HomeMy WebLinkAbout159 - 12/20/1988 - SUBMITTING A PROPOSED CHARTER AMENDMENT TO A VOTE OF THE REGISTERED ELECTORS CONCERNING PAYMENTS IN ORDINANCE NO. 159, 1988
OF THE COUNCIL OF THE CITY OF FORT COLLINS
SUBMITTING A PROPOSED CHARTER AMENDMENT TO
A VOTE OF THE REGISTERED ELECTORS OF THE
CITY OF FORT COLLINS CONCERNING
PAYMENTS IN LIEU OF TAXES ON ACCOUNT
OF THE CITY UTILITIES
WHEREAS, Article IV, Section 8 of the Charter of the City of Fort
Collins provides that the Charter may be amended as provided by the laws of
the State of Colorado; and
WHEREAS, Section 31-2-210, C.R.S. , provides that Charter amendments
may be initiated by the adoption of an ordinance by the Council submitting
a proposed amendment to a vote of the registered electors of the City of
Fort Collins; and
WHEREAS, the Council desires to submit certain proposed Charter
amendments to the registered voters of the City at the next regular City
election to be held on March 7, 1989.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1 . The following proposed Charter amendment shall be submitted
to the registered voters of the City at the next regular City election to
be held on March 7, 1989:
PROPOSED CHARTER AMENDMENT NO. 6
Section 6 of Article XII of the Charter of the City is hereby
amended to read as follows:
"Section 6. Municipal utility rates and finances.
The Council shall by ordinance from time to time fix, establish,
maintain, and provide for the collection of such rates, fees, or
charges for water and electricity, and for other utility services
furnished by the city as will produce revenues sufficient to pay
the cost of operation and maintenance of the city's utilities in
good repair and working order; to pay into the general fund in
lieu of taxes on account of the City-owned utilities such amount
as may be established by the Council by ordinance; to pay the
principal of and interest on all bonds of the city payable from
the revenues of the City's utilities; to provide and maintain an
adequate working capital fund for the day-to-day business
operations of said utilities; to provide and maintain an adequate
fund for the replacement of depreciated and obsolete property and
for the extension, improvement, enlargement and betterment of
said utilities; to pay the interest on and principal of any
general obligation bonds issued by the city to extend or improve
said utilities. The provisions hereof shall be subject at all
times to the performance by the city of all covenants and
agreements made by it in connection with the issuance, sale, or
delivery of any bonds of the city payable out of the revenues
derived from the operation of its utilities, whether such revenue
bonds be heretofore or hereafter issued.
All net operating revenues of the city's utilities shall be held
within the respective utility's fund and may be expended only for
renewals, replacements, extraordinary repairs, extensions,
improvements, enlargements and betterments to such utility, or
other specific utility purpose determined by the Council to be
beneficial to the ratepayers of said utilities."
Section 2. The following ballot language is hereby adopted for
submitting Proposed Charter Amendment No. 6 to the registered voters at
said election:
PROPOSED CHARTER AMENDMENT NO. 6
Amendment to Article XII, Section 6 of the City Charter,
regarding municipal utility rates and finances, allowing a
payment in lieu of taxes to the General Fund on account of the
City-owned utilities to be established by ordinance.
FOR THE AMENDMENT
AGAINST THE AMENDMENT _
Introduced, considered favorably on first reading, and ordered
published this 15th day of November, A.D. 1988, and to be presented for
final passage on the 20th day of December, A.D. 1988.
Mayor
TTEST:
City Clerk
Passed and adopted on final reading this 20th d of December, A.D.
1988.
Mayor
TTEST:
City Clerk