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HomeMy WebLinkAbout2001-017-02/06/2001-SUBMITTING A BALLOT ISSUE TO THE REGISTERED ELECTORS OF THE PROPOSED THE RIDGE SPECIAL IMPROVEMENT DRESOLUTION 2001-17 OF THE COUNCIL OF THE CITY OF FORT COLLINS SUBMITTING A BALLOT ISSUE TO THE REGISTERED ELECTORS OF THE PROPOSED THE RIDGE SPECIAL IMPROVEMENT DISTRICT NO.93 AS PART OF THE REGULAR CITY ELECTION ON APRIL 3,2001 WHEREAS,Chapter 22,Article III of the City Code empowers the City to establish special improvement districts,and sets forth procedures and requirements for forming and organizing special improvement districts and providing for the improvements to be constructed thereby,and for the assessment of costs associated with those improvements;and WHEREAS,the Council has received petitions from property owners in the area (the “Petitioners”)of the proposed THE RIDGE SPECIAL IMPROVEMENT DISTRICT NO.93,more specifically described on Exhibit “A”,attached hereto and incorporated herein by this reference (the “District”),requesting that the Council initiate proceedings for the creation of a special improvement district for the purpose of acquiring,constructing,and installing street pavement,curb,gutters,street lighting,storm drainage,an irrigation ditch crossing and other necessary appurtenances in the City of Fort Collins,Colorado,as more particularly described below (the “Improvements”);and WHEREAS,on this same date,the Council has approved Resolution 2001-16,Accepting the Petitions of Property Owners Regarding the Initiation of The Ridge Special Improvement District No.93;Stating the Need For,and the Location of the Improvements to Be Made;Describing the Area to Be Assessed for the Same;and Directing the Director of Community Planning and Environmental Services to Prepare and Present to the City Council the Necessary Information For the Formation of Said District;and WHEREAS,Article X,Section 20 of the Colorado Constitution (“TABOR”),requires voter approval in advance for the creation of any multiple-fiscal year direct or indirect debt,except when certain specified exceptions apply;and WHEREAS,in order to finance the acquisition,construction,and installation of the Improvements,the Petitioners have proposed the issuance of special assessment bonds payable solely from special assessments levied against properties located within the proposed District,to finance the costs of acquiring,constructing and installing the Improvements consistent with the purposes of the proposed District;and WHEREAS,in order to issue such special assessment bonds,the City is required to obtain the approval of a majority of the electors of the proposed District,as defined in Section 31-25- 501(1.7),Colorado Revised Statutes,that is,those persons registered to vote in the general elections in the State of Colorado and either residing the proposed District or owning (or married to a person owning)taxable real or personal property within the proposed District;and r WHEREAS,Article X,Section 3 of the Charter of the City of Fort Collins provides that the Council may,without petition therefor,submit any question to the vote of the people at a regular or special election;and WHEREAS,a regular municipal election is scheduled to beheld on Tuesday,April 3,2001, and a local ballot issue pursuant to TABOR may properly be placed on the ballot as part of that regular municipal election;and WHEREAS,the purpose of this Resolution is to exercise the Council’s authority to submit to the vote of the electors of the proposed District,a ballot issue regarding the proposed issuance by the City of special assessment bonds payable solely from special assessments levied against properties located within the proposed District,to finance the costs of acquiring,constructing and installing the Improvements consistent with the purposes of the proposed District. 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 electors of the proposed District,as defined in Section 3 1-25-501(1.7),C.R.S.,at the next regular City election to be held on April 3, 2001,the following ballot issue: CITY-INITIATED BALLOT ISSUE FOR THE ISSUANCE OF SPECIAL ASSESSMENT BONDS FOR THE PROPOSED THE RIDGE SPECIAL IMPROVEMENT DISTRICT NO.93 SHALL CITY OF FORT COLLINS DEBT BE INCREASED BY NOT MORE THAN $1,100,000 IN PRINCIPAL AMOUNT,WITH A REPAYMENT COST OF NOT MORE THAN $2,024,000 TOTAL PRINCIPAL AND INTEREST,BY THE ISSUANCE OF SPECIAL ASSESSMENTBONDS,PAYABLESOLELYFROMSPECIALASSESSMENTS LEVIED AGAINST PROPERTIES LOCATED WITHIN THE PROPOSED CITY OF FORT COLLINS,COLORADO,THE RIDGE SPECIAL IMPROVEMENT DISTRICT NO.93,TO FINANCE THE COST OF ACQUIRING,CONSTRUCTING AND INSTALLING STREET IMPROVEMENTS,INCLUDING EARTHWORK,RECONSTRUCTION,ASPHALT PAVING,CURBS AND GUTTERS,DRAINAGE,STREET LIGHTING,AN IRRIGATION DITCH CROSSING AND OTHER NECESSARY,INCIDENTAL OR APPURTENANT PROPERTIES OR FACILITIES,SUCH BONDS TO MATURE,BEAR INTEREST AND BE CALLABLE FOR REDEMPTION PRIOR TO MATURITY,WITH OR WITHOUT A PREMIUM,AS MAY LATER BE DETERMINED BY THE CITY COUNCIL? _YES ____NO 2 C C Section 2.That the City Clerk is hereby directed to accept comments submitted in favor of and in opposition to the foregoing ballot measure from those persons eligible to vote thereupon through the end of the business day on February 16,2001,in accordance with Section 1-7-901, C.R.S.,and to summarize any such comments received in accordance with Section 1-7-903,C.R.S. Passed and adopted at a regular meeting of the Council of the C~yof Fort Collins held this 6th day of February,A.D.2001.V Mayor ATTEST: Ciflk~~ 3 r Exhibit “A” The Ridge Special Improvement District No.93 All of the property located within the plat of The Ridge P.U.D.,a plat of record with the Clerk and Recorder of Larimer County,located in the East Half of Section 3 Township 6 North,Range 69 West of the Sixth Principal Meridian,City of Fort Collins,Larimer County,Colorado,excepting Lot 21,Lot 22 and Tract ‘H”,together with all of the property located within the plat of The Amended Plat of Lot 21,Lot 22,And Tract “H”of The Ridge P.U.D.,a plat of record with the Clerk and Recorder of Larimer County,located in the East Half of Section 3 Township 6 North,Range 69 West of the Sixth Principal Meridian,City of Fort Collins,Larimer County, Colorado. 4