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HomeMy WebLinkAbout129 - 10/18/1983 - AMENDING CHAPTER 16 OF THE CITY CODE RELATING TO THE ORGANIZATION OF IMPROVEMENT DISTRICTS ORDINANCE NO. 129 , 1983 OF THE COUNCIL OF THE CITY OF FORT COLLINS AMENDING CHAPTER 16 OF THE CODE OF THE CITY WHEREAS , the Council has determined that certain amendments are necessary and desirable with respect to the provisions of Chapter 16 of the Code of the City in order to better facilitate the formation, manage- ment and administration of such special improvement districts to enable such districts to be established upon flexible terms and conditions . NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that Chapter 16 of the Code of the City be amended in the following particulars: Section 1. That Section 16-6(A) be amended to provide as follows: §16-6 Organizing improvement districts. A. Before ordering any improvements to be constructed pursuant to this Chapter, the City Council shall , by resolution , approve the plans, specifications, map and estimate of the Director of Public Works. Such resolution or a resolution to be subsequently adopted shall determine the amount or pro- portion of the total cost, if any, to be paid by a method other than assessments against property in the district, the estimated number of annual installments (not to exceed twenty) , the rate of interest to be charged on unpaid in- stallments, the property to be assessed for the improvement, the method of making such assessments and the date when the Council will hold a hearing and consider the ordering by ordinance of the proposed improvement. In establishing the rate of interest to be charge on unpaid installments, the Council may provide that the interest rate will be the interest rate payable on bonds to be issued by the district. In such event, a maximum interest rate shall be established by the Council , and the rate of interest charged on unpaid installments shall not exceed such maximum rate. Section 2. That Section 16-8 of the Code of the City be amended to provide as follows: §16-8 Maximum Cost of Improvements. The total cost of the improvements shall not exceed by more than ten percent (10%) the amount of the estimate of the Director of Public Works for the cost of the improvement, unless the Council shall find and determine that the public interest re- quires the. making or acquisition of the improvement or any part thereof at such higher cost. The foregoing limitation on maximum cost for improvements shall not apply when all the owners of property to be assessed in a district expressly waive the limita- tion in writing. Section 3. That Section 16-9 of the Code of the City be amended by the deletion of the word "Engineer" and the addition in place thereof of the words "Director of Public Works, or designated representative." Section 4. That Section 16-16 of the Code of the City be amended to provide as follows: §16-16 Existing Improvements. A. If any piece of real estate in the district has existing improvements conforming or approximately conforming to the general plan of the City Council , the City may accept the same in whole or in part or make necessary changes so that the same shall conform to the general plan and such conform- ing improvements shall be excluded from the District, without assessment to the property benefited by such improve- ments. B. In a district formed upon the petition of one hundred percent (100%) of the property owners, the City may also purchase existing improvements at the owners' cost as veri- fied by the City, and include the purchase price in the cost of the district for the purpose of determining the amount of the assessments. Section 5. That Section 16-17(A) of the Code of the City be amended to provide as follows: §16-17 . Statement of cost; preparation of assessment roll . A. Upon the completion of any local improvement and acceptance thereof by the City Council , the Director of Finance shall prepare a statement showing the whole cost of the improve- ment, including: (1) actual construction costs (2) engineering costs (3) acquisition costs of (a) existing improvements and (b) rights-of-way (4) interest accruing on bonds issued to pay the cost of improvements up to the date when such costs will be assessed (5) legal fees, publication, administration, financing, and other incidentals incurred in connection with the im- provements (not to exceed 20% of actual construction, engineering, and acquisition costs) (6) cost of collection, making the assessment and certifying the same to the County Treasurer for collection (not to exceed 7% of the actual construction, engineering, and acquisition costs) ." -2- Section 6. That Section 16-27.1 of the Code be amended by the addi- tion of the following sentence: Notwithstanding the foregoing, no such division of land or reallocation shall result in an assessment being made against publicly owned lands or rights-of-way or against open areas , greenbelts, or similar lands when such lands are vested in fee ownership separate from that of the adjacent improvements benefitting therefrom. Section 7 . That Section 16-29 of the Code of the City be amended to provide as follows: §16-29. Calling of bonds for redemption. Whenever there are available funds in a district, the Director of Finance may call in and pay a suitable number of. District Bonds outstanding by giving notice in such a manner as may be provided in the proceedings authorizing the bonds. On the date designated on the Notice of Redemption, interest on the bonds so called shall cease. . The notice shall specify by number the bonds called, and such calls shall be made in the manner provided in the proceedings authorizing the bonds. The Director of Finance shall call in and pay District Bonds in a timely manner so that the available funds would not cause the bonds to be "arbitrage bonds" under Section 103(c) of the Internal Revenue Code of 1954, as amended, and the regulations prescribed thereunder. Section 8. That Section 16-38 of the Code be amended by the addition of the following sentences: Any of the provisions of this Chapter not expressly waived in writing under this or other sections may be waived through agreement between or among the City and the affected property owners. In order to be effective, such, waiver must be in writing, and signed by the owners of all properties in the district which are to be assessed, and the City Manager. The authorization for such an agreement shall be contained within the Ordinance establishing the district. Introduced, considered favorably on first reading, and ordered pub- lished this 4th day of October, A.D. 1983, and to be presented for final passage on the 18th day of October, A 1983. Ma or ' ATTEST: 441k)N� . City Clerk -3- Passed and adopted on final reading by the Council of the City of Fort Collins at a regular meeting held this 18th day of October, A.D. 1983. Ma r ATTEST: City Clerk -4-