HomeMy WebLinkAbout062 - 05/01/2018 - AMENDING SECTION 26-392 OF CITY CODE REGARDING THE ELECTRIC UTILITY ENTERPRISE (WITHDRAWN FROM CONSIWITHDRAWN FROM CONSIDERATION ON FIRST READING
5/1/2018
ORDINANCE NO. 062, 2018
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING SECTION 26-392 OF THE CODE OF THE CITY OF
FORT COLLINS REGARDING THE ELECTRIC UTILITY ENTERPRISE
WHEREAS, City Code Section 26-392(a) provides that the City’s electric utility
constitutes an enterprise of the City and authorizes the City Council, acting ex officio as the board
of the enterprise, to issue revenue bonds or other obligations (including refunding securities)
payable solely from the net revenues derived from the enterprise and provides for the enterprise
board to adopt its ordinances issuing those bonds and obligations in the same manner as City
Council adopts its ordinances; and
WHEREAS, the City Council, acting ex officio as the board of the enterprise, has
historically interpreted and implemented City Code Section 26-392(a) by the Mayor acting as the
president of the enterprise board, the Mayor Pro Tem acting as the vice president of the enterprise
board, the Financial Officer acting as the treasurer of the enterprise board and the City Clerk acting
as the secretary of the enterprise board; and
WHEREAS, City Code Section 26-392(c) authorizes the enterprise to exercise certain
powers in furtherance of its purposes, including the power to hold meetings concurrently with
regular or special meetings of the City Council; and
WHEREAS, the City Council, acting ex officio as the board of the enterprise, has
historically interpreted and implemented City Code Section 26-392(c) calling for meetings
concurrently with regular of special meetings of the City Council by noticing and holding
enterprise board meetings on the same date and immediately following a regular of special meeting
of the City Council; and
WHEREAS, City Code Section 26-398 authorizes the electric utility enterprise to acquire,
construct, provide, fund and contract as necessary to provide telecommunication facilities and
services in the City, and to take such other actions as may be necessary for the proper
administration of said facilities and services, including the authority to issue revenue and refunding
securities and other debt obligations in the manner and to the full extent authorized in Section 7(b)
of Charter Article XII and in Code Section 26-392 to fund the electric utility's provision of
telecommunication facilities and services; and
WHEREAS, in response to repeated citizen objections to the manner in which the Council,
acting ex officio as the board of the enterprise, has historically interpreted and implemented these
Code provisions, the City Council desires to clarify and confirm, by amending City Code Section
26-392(a) to expressly so state, that the officers of the enterprise are the City’s Mayor (as board
president), Mayor Pro Tem (as board vice-president), Financial Officer (as board treasurer) and
City Clerk (as board secretary) and that such officers have the same authority to execute to the
enterprise’s ordinances, debt obligations and other instruments as they have when acting in their
City offices under the Charter, this Code, City Council ordinances and resolutions, and applicable
state law; and
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WHEREAS, the City Council also desires to amend City Code Section 26-392(c) to
provide that enterprise board meetings may be held at any time upon the provision of public notice
as required for meetings of the City Council.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That Section 26-392(a) of the Code of the City of Fort Collins is hereby
amended to read as follows:
Sec. 26-392. - Utility considered a city-owned enterprise.
(a) The utility shall constitute an enterprise of the City which may, by ordinance of the
City Council, acting ex officio as the board of such enterprise, issue its own revenue bonds
or other obligations (including refunding securities) on behalf of the City, which revenue
bonds or other obligations shall be payable solely from the net revenues (including special
assessments) derived from the operation of the enterprise. Such revenue bonds or other
obligations may be additionally secured by mortgages on or security interests in any real
or personal property of the City used in the operation of the enterprise. The ordinance
issuing any such revenue bonds or other obligations shall be adopted in the same manner
and shall be subject to referendum to the same extent as ordinances of the City Council.
The officers of the enterprise shall be the mayor as president, the mayor pro tem as vice
president, the financial officer as treasurer and the city clerk as secretary. These officers
shall have the same authority and duties with respect to the enterprise as they have when
acting as officers of the City, including without limitation, the authority to sign the
enterprise’s ordinances, resolutions, revenue bonds or other obligations, and other
instruments.
. . . .
Section 3. That Section 26-392(c) of the Code of the City of Fort Collins is hereby
amended to read as follows:
. . . .
(c) The enterprise shall also be authorized to have and exercise the following powers in
furtherance of its purposes: to hold meetings upon the call of the mayor as president (or the
mayor pro tem as vice president in the case of incapacity or unavailability of the mayor) or
the City Manager, after public notice provide in the manner required for concurrently with
regular or special meetings of the City Council; to have and use a seal; to issue its revenue
bonds for purposes related to the electrical utility system in the manner in which City
revenue bonds may be issued; to pledge any revenues of the City's electrical utility system
to the payment of such revenue bonds and to pay such revenue bonds therefrom; to enter
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into contracts relating to the electrical utility system in the manner in which City contracts
may be entered into; to make representations, warranties and covenants relating to the
electrical utility system on behalf of the City; to exercise rights and privileges of the City
relating to the electrical utility system; and to bind the City to perform any obligation
relating to the electrical utility system other than any multiple-fiscal year direct or indirect
debt or other financial obligation of the City without adequate present cash reserves
pledged irrevocably and held for payments in all future years.
Introduced, considered favorably on first reading, and ordered published this 1st day of
May, A.D. 2018, and to be presented for final passage on the 15th day of May, A.D. 2018.
__________________________________
Mayor
ATTEST:
_____________________________
City Clerk
Passed and adopted on final reading on this 15th day of May, A.D. 2018.
__________________________________
Mayor
ATTEST:
_____________________________
City Clerk