HomeMy WebLinkAbout140 - 01/05/1993 - REPEALING AND REENACTING CITY CODE FOR SALE OF TAX SALE CERTIFICATE OF PURCHASE FOR SPECIAL IMPROVEM ORDINANCE NO. 140 , 1992
OF THE COUNCIL OF THE CITY OF FORT COLLINS
REPEALING AND RE-ENACTING SUBSECTION (c) OF
SECTION 23-111 OF THE CODE OF THE CITY OF FORT COLLINS
RELATING TO THE REQUIREMENTS AND NOTICE PROVISIONS
FOR THE SALE OF A TAX SALE CERTIFICATE OF
PURCHASE HELD BY THE CITY FOR SPECIAL
IMPROVEMENT DISTRICT ASSESSMENTS
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS THAT subsection
(c) of Section 23-111 of the Code of the City is hereby repealed and re-enacted
to read as follows:
Sec. 23-111. Authorization to sell real property.
(c) With respect to the sale of a certificate of purchase
obtained by the city pursuant to Section 22-97, if such certificate
of purchase is to be sold and assigned for less than its face value,
the City Council must authorize such sale and assignment in
accordance with Section 23-111(a) . Prior to City Council approving
such sale, however, the city must give notice to all persons having
any interest in the property for which the certificate of purchase
was issued or having any interest in the proceeds of the proposed
sale. Such notice shall be given by publication once each week for
two (2) successive weeks in an official newspaper published in the
city. Written notice shall also be given by mail within ten (10)
days after the first publication, postage prepaid, first class mail ,
to all governmental taxing units having taxes or other claims
against the property, and to the last known address of all record
interest holders in the property. In addition, if such sale and
assignment will , in the judgment of the Financial Officer, impair in
any way the payment of any principal or interest owing under the
bonds which are paid with assessments collected from the property
described in the certificate of purchase, then such written notice
shall also be given to the bondholders. Notice to bondholders shall
be mailed, in the case of registered instruments, to those names and
addresses which are recorded on the registration books of the city
or, in the case of bearer instruments, to those names and addresses
which may be otherwise known to the city. The date of sale of any
certificate of purchase for which notice is required under the
provisions of this Section shall be not less than thirty (30) days
nor more than forty-five (45) days after the date of first
publication of the notice. Notwithstanding the foregoing, the
city' s Financial Officer may sell certificates of purchase without
notice or formal approval by the City Council when such sale is made
in the manner and on the terms provided in Section 22-97.
Introduced, considered favorably on first reading, and ordered published
this 15th day of December, A.D. 1992, and to be presented for final passage on
the 5th day of January, A.D. 1993. '
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 5th day of January, A.D. 1993.
JIV An o
Mayor
ATTEST:
City Clerk
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