HomeMy WebLinkAbout2001-103-08/21/2001-SUBMITTING A CITIZEN- INITIATED ORDINANCE TO A VOTE OF THE REGISTERED ELECTORS OF THE CITY AT THE SPr
RESOLUTION 2001-103
OF THE COUNCIL OF THE CITY OF FORT COLLINS
SUBMITTING A CITIZEN-INITIATED ORDINANCE
TO A VOTE OF THE REGISTERED ELECTORS OF THE CITY
AT THE SPECIAL MUNICIPAL ELECTION OF NOVEMBER 6,2001
WHEREAS,under Article X,Section 1 of the Charter of the City of Fort Collins,the
registered electors of the city have the power to propose a measure to the Council,and if the Council
fails to adopt a measure so proposed,then to adopt or reject such ordinance or resolution at the polls;
and
WHEREAS,an initiative petition authorizing the issuance of sales and use tax revenue
bonds,the proceeds of which shall be used to finance and/or refinance the costs of a new main
library and the acquisition of land and/or the design and construction of improvements for a new
branch library has been submitted to the City,and the City Clerk has certified said petition as
sufficient for submission of the initiated ordinance to a vote of the people at a special municipal
election;and
WHEREAS,the City Clerk has presented said petition to the City Council as provided in
Article X,Section 5(f)(4)of the City Charter;and
WHEREAS,under Article X,Section 1(e)of the City Charter,upon presentation of an
initiative petition certified as to sufficiency by the City Clerk,the Council shall either adopt the
citizen-initiated ordinance without alteration within thirty (30)days or submit said citizen-initiated
ordinance in the form petitioned for,to the registered electors of the city at the next special
municipal election to be held within one-hundred twenty (120)days,unless any other regular or
special city election is to occur within said period,in which case the initiative measure shall be
consolidated with such other election;and
WHEREAS,in accordance with Article X,Section 20 of the constitution of the State of
Colorado,the City Council is required to submit said citizen-initiated ordinance to a vote of the
registered electors of the City;and
‘WHEREAS,heretofore,the Council has called a special municipal election to be held on
November 6,2001 in conjunction with the Larimer County Coordinated Election.
NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1.That there is hereby submitted to the registered electors of the City of Fort
Collins at the Special Municipal Election to be held on Tuesday,November 6,2001,the following
proposed citizen-initiated ordinance:
C..C
CITIZEN-INITIATED ORDINANCE NO.3,2001
AUTHORIZING AN INCREASE IN CITY DEBT BY NOT MORE THAN $36,100,000
IN PRINCIPAL AMOUNT,WITH A REPAYMENT COST OF NOT MORE THAN $76,000,000
TOTAL PRINCIPAL AND INTEREST,BY THE ISSUANCE OF SALES AND USE TAX
REVENUE BONDS,PAYABLE FROM THE CITY’S SALES AND USE TAXES AND
OTHER LEGALLY-AVAILABLE FUNDS,THE PROCEEDS OF WHICH BONDS SHALL BE USED
TO FINANCE AND/OR REFINANCE THE COSTS OF A NEW MAIN LIBRARY IN THE
DOWNTOWN AREA,WITHOUT REGARD TO LOCATION LIMITATIONS CONTAINED IN
PEOPLE’S ORDINANCE NO.I AS ADOPTED BY THE VOTERS AT THE APRIL 8,1975 ELECTION,
AND ACQUISITION OF LAND AND/OR DESIGN AND CONSTRUCTION OF IMPROVEMENTS
FOR A NEW BRANCH LIBRARY
WHEREAS,it has been twenty-seven years since the citizens of the City of Fort Collins (“City”)approved a
one-cent tax for library,performing arts and museum capital projects;and
WHEREAS,in the past twenty-two years,the population of the City has nearly doubled,and the current needs
of the citizens of the City can no longer be met by the existing performing arts,library and museum facilities;and
WHEREAS,in 1997 the citizens of the City approved the extension of the Choices 95 Capital Projects Sales
and Use Tax,which included funding for land acquisition and/or initial design of both a new performing arts center and
a new main library;and
WHEREAS,a proposed new main library has been considered and endorsed by the Library Board and The
Friends of the Library;and
WHEREAS,the proposed library facilities will provide enhanced educational and intellectual opportunities
for all of the citizens of the City,and such facilities will substantially contribute to the City’s quality of life and
economic prosperity;and
WHEREAS,the cost of a proposed new main library and the cost of the land for a new branch library,
including operation and maintenance costs of the new main library are proposed to be funded by an increase in the
City’s sales and use tax rate on all taxable items except food for a twenty (20)year period commencing January 1,2002;
and
WHEREAS,due to the immediacy of the need and the length of time required to design and construct a new
main library,City sales and use tax revenue bonds should be issued in order to allow design and construction of such
facility to commence as soon as possible.
NOW,THEREFORE,BE IT ORDAINED AS FOLLOWS:
SECTION 1.That City debt shall be increased by not more than $36,100,000,with a repayment cost of
not more than $76,000,000 total principal and interest,by the issuance of sales and use tax revenue bonds in a principal
amount of $36,100,000 payable from the City’s sales and use taxes,including proposed increases therein,and other
legally-available funds (the “Bonds”).The Bonds shall be issued,dated and sold at such time or times as may be
necessary and prudent to effect the provisions of this Ordinance,and the Bonds shall mature,bear interest and be
callable for redemption prior to maturity,with or without a premium,as may be determined by the City Council in such
ordinances.
SECTION 2.That the proceeds of the Bonds,together with investment earnings thereon,shall be used to
finance and/or refinance the acquisition,design,construction,reconstruction,installation and equipment of a new main
library ofapproximately 100,000 square feet in the downtown area and site improvements without regard to the location
limitations of People’s Ordinance No.I as adopted by the voters in the April 8,1975 election,at an approximate design
and construction cost of $33,400,000 (the “New Main Library”),and acquisition of land for a new branch library at an
r
approximate acquisition cost of$1,500,000 at a location to be determined by the City Council or,in the event land for
such new branch library is dedicated to the City or otherwise acquired by the City from other funding sources,such
money shall be used for design and/or construction costs of such new branch library (the “New Branch Library”).Site
improvements for the New Main Library may include on-site and/or off-site parking facilities at an approximate design
and construction cost of $1,000,000 for all parking facilities.Nothing herein shall prevent the City Council from
enhancing the scope or design of the New Main Library,including the provision of additional off-site parking facilities,
or increasing the cost thereof unless such enhancement or increase in cost would impair the City’s ability to fully fund
all of the components of the New Main Library as described herein.
SECTION 3.That any earnings from the investment of such proceeds may be collected and expended for
the purposes specified herein,notwithstanding any limitation or condition contained in Article X,Section 20 of the
Colorado Constitution or any other law,and without limiting the collection or spending of any other revenues or funds
by the City under Article X,Section 20 of the Colorado Constitution or any other law.
SECTION 4.That this Ordinance is contingent upon the concurrent passage by the voters of a citizen-
initiated or City Council-referred ordinance authorizing an additional twenty-nine one-hundredths percent(0,29%)City
sales and use tax (i.e.29~on a $100 purchase)to fund the costs of performing arts,library and museum facilities.If
such concurrent citizen-initiated or City Council-referred ordinance does not pass,this Ordinance,even if approved by
the voters,shall not become effective.
Section 2.That the foregoing proposed citizen-initiated ordinance is hereby submitted
to the registered electors ofthe City ofFort Collins at said special municipal election in substantially
the following form:
r C
CITY OF FORT COLLINS
BALLOT ISSUE —
PROPOSED CITIZEN-INITIATED ORDINANCE NO.3,2001
SHALL CITY OF FORT COLLINS DEBT BE INCREASED BY NOT MORE THAN $36,100,000
IN PRINCIPAL AMOUNT,WITH A REPAYMENT COST OF NOT MORE THAN $76,000,000
TOTAL PRINCIPAL AND INTEREST,BY THE ISSUANCE OF SALES AND USE TAX
REVENUE BONDS,PAYABLE FROM THE CITY’S SALES AND USE TAXES,INCLUDING
PROPOSED INCREASES THEREIN,AND OTHER LEGALLY AVAILABLE FUNDS,THE
PROCEEDS OF WHICH BONDS,TOGETHER WITH INVESTMENT EARNINGS THEREON,
SHALL BE USED TO FINANCE AND/ORREFINANCE THE ACQUISITION,CONSTRUCTION
AND INSTALLATION OF
•ANEWMAIN LIBRARY WITHOUT REGARD TO LIMITATIONS CONTAINED IN
ORDINANCENO.1,1975,AND
•LAND FOR A NEW SOUTHEAST BRANCH LIBRARY,
TOGETHER WITH ANY OTHER NECESSARY OR INCIDENTAL PROPERTIES,FACILITIES
AND COSTS,SUCH BONDS TO MATURE,BEAR INTEREST AND BE CALLABLE FOR
REDEMPTION PRIOR TO MATURITY,WITH OR WITHOUT A PREMIUM,AS MAY BE
DETERMINED BY THE CITY COUNCIL,SUCH BONDS TO BE ISSUED PURSUANT TO
SUCH ORDNANCES OF THE CITY COUNCIL AS MAY BE NECESSARY AND PRUDENT TO
EFFECT THE PROVISIONS HEREOF,AND IN CONNECTION THEREWITH SHALL THE CITY
OF FORT COLLINS BE AUTHORIZED TO RECEIVE AND EXPEND SALES AND USE TAXES,
OTHER LEGALLY AVAILABLE FUNDS AND INVESTMENT EARNINGS THEREON EN
AMOUNTS EQUAL TO SUCH PRINCIPAL,INTEREST AND PREMIUM FOR THE PURPOSE
OF PAYING THE SAME,NOTWITHSTANDING ANY APPLICABLE LIMITATION ON
REVENUES AND EXPENDITURES,INCLUDING THE LIMITATIONS SET FORTH IN
ARTICLE X,SECTION 20 OF THE COLORADO CONSTITUTION,ALL IN ACCORDANCE
WITH CITIZEN-INITIATED ORDINANCE NO.3,2001?
____YES
NO
Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 21st
day of August,A.D.2001.
TTEST:
~fl~k %LA
City Clerk