HomeMy WebLinkAbout160 - 12/20/1988 - SUBMITTING A PORPOSED CHARTER AMENDMENT TO A VOTE OF THE REGISTERED ELECTORS CONCERNING SPECIAL ASSE ORDINANCE NO. 160, 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
SPECIAL ASSESSMENT SECURITIES
IN SPECIAL IMPROVEMENT DISTRICTS
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. 7
Section 20.5(d) of Article V of the Charter of the City is
hereby amended to read as follows:
"Section 20.5. Special assessment securities.
(d) Whenever three-fourths (3/4) of the securities issued for
a special or local improvement district have been paid and
cancelled and for any reason the remaining assessments are not
paid in time to redeem the final securities for the district, the
city shall pay, if so provided in the ordinance authorizing
issuance of the bonds, the securities when due and levy
additional ad valorem taxes necessary therefor and reimburse
itself by collecting the unpaid assessments due the district. "
Section 2. The following ballot language is hereby adopted for
submitting Proposed Charter Amendment No. 7 to the registered voters at
said election:
PROPOSED CHARTER AMENDMENT NO. 7
Amendment to Article V, Section 20.5(d) of the City Charter
regarding special assessment funds, eliminating the City's
mandatory guarantee of the last 25% of special assessment
securities. The pledge would apply only if so ordained by the
City Council in the bond ordinance for the district.
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.
�l
Mayor�
TTEST:
City Clerk
Passed and adopted on final reading this 20th day of December, A.D.
1988.
t
Mayor
TT
City Clerk