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HomeMy WebLinkAbout030 - 06/24/1965 - RELATING TO THE CREATION AND ORGANIZATION OF CONSOLIDATED SANITARY SEWER IMPROVEMENT DISTRICT NO 53 ORDINANCE NO 3_, 1965, BEING AN ORDINANCE RELATING TO THE CREATION AND ORGANIZATION OF CONSOLIDATED SANITARY SEWER IMPROVEMENT DISTRICT NO 53, PROVIDING FOR THE CONSTRUCTION OF IMPROVE14ENTS THEREIN AND AUTHORIZING THE ISSUANCE OF BONDS TO PAY THE COSTS OF CONSTRUCTION THEREOF ' WHEREAS, heretofore written petitions were duly filed requesting the creation of a special improvement district for the purpose of installing a sanitary sewer system in Buckingham Place Addition to the City of Fort Collins, Colorado, and WHEREAS, the City Council has received the necessary reports and given the notice required, all as set forth in Chapter 15 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended, and WHEREAS the City Council is of the opinion that it is in the best interests of the City of Fort Collins to form said special improvement district NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS: Section 1 That there is hereby created and organized an improve- ment district under and by virtue of the provisions of the Chapter 15 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended, to be known as Consolidated Sanitary Sewer Improvement District No 53, comprising the following property in the City of Fort Collins All of Buckingham Place Addition to the City of Fort Collins, Colorado Section 2 That the improvements to be constructed shall consist of the installation of a sanitary sewer system benefiting the above described property Section 3 That the total cost of such improvements shall not exceed the City Engineer's estimate heretofore accepted of Seventeen Thousand Eight Hundred Seventy-Six and 40/100 Dollars ($17,876 40), exclusive of the cost of collection, legal and advertidng, engineering, financing, interest and other incidentals; and that said total cost shall be assessed upon all the lots and lands in said district in proportion as the area of each piece of real estate in the district is to the area of all the real estate in the district, exclusive of streets and alleys in the district; and that the maximum cost per square foot on property in the district shall be $ 039 exclusive of the cost of engineering, legal and publication, interest during construction and collection, and that in addition to said cost per square foot there shall be made the following charges seven per cent (77) of the total cost for engineering, five per cent (5%) of the total cost for legal and publication, seven per cent (77) of the total cost for cost of collection and of making the assessments and certifying the same for collection, and also there shall be charged interest at the rate of six per cent (6%) per annum on the total cost of construction during the period of construction In addition, there shall be added to the assessment for any lot on which there is constructed a dwelling the amount of One Hundred Seventy-Five and No/100 Dollars ($175 00), being the plant investment fee required for connecting to the system as provided in the Ordinances of the City / Section 4 That the City Council has, pursuant to notice duly made as provided in Chapter 15 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended, considered all complaints and objections made and filed in writing by the owners of any real estate to be assessed or any persons interested, and expressly finds that all requirements of the ordinance of the City of Fort Collins respecting local improvements and assessments have been observed and complied with in all respects and it is hereby ordered that the improvements of Consolidated Sanitary Sewer Improve- ment District No 53 as set forth in the map, plans and specifications heretofore adopted by the City Council be constructed Section 5 For the purpose of paying the costs of said improvements,b bonds of the City of Fort Collins in the aggregate principal amount of not to exceed $36,000 00 are hereby authorized to be issued by the Director of Finance of the City of Fort Collins, which bonds shall bear date of November 1, 1965, shall bear the name of Consolidated Sanitary Sewer Improvement -2- District No 53 of the City of Fort Collins, Colorado, and shall bear interest at the rate of 6% per annum, payable semi-annually, said interest to be evi- denced by coupons attached to the principal bond and attested by the facsimile signature of the Deputy City Clerk, which said bonds shall be in denominations of not more than $500 00 each, and each of said bonds shall be subscribed by the Mayor, countersigned by the Director of Finance and shall have the corporate seal of the City affixed thereto, attested by the Director of Finance, and said bonds shall be registered with the Director of Finance and shall be delivered from time to time as required for the payment of the work herein provided, or the Council, in its discretion, may sell said bonds to pay such costs in cash, and said bonds shall be sold to the highest and best bidders for cash, but in no event for less than par, and in all cases to the best advantage of the City Said bonds shall be redeemable out of the moneys collected on account of the assessments made for said improvements, and all moneys collected from said assessments or from the sale of bonds for said improvements shall be credited to the bonsolidated Sanitary Sewer Improvement District No 53 and the funds so collected shall be used only for the payment of the work of construction of said improvements and the interest, collection costs and other incidental expenses thereon Said bonds shall be numbered consecutively and shall be redeemable consecutively accord- ing to number and in the order of issuance, and the Director of Finance shall preserve the records concerning the issuance of said bonds in a suitable book kept for said purposes All of said bonds shall be absolutely due and payable twenty (20) years from date of issue, and shall be subject to call and payment at any time prior thereto All assessments made pursuant to this ordinance together with all interest thereon, penalties for default in payment thereof, and all costs of collecting the same shall from the date of final publication of the assessing ordinance hereafter to be adopted, constitute a perpetual lien on the property therein assessed on a parity with the tax lien for gen- eral State, County, City, Town or School taxes, and no sale of such property to enforce any general State, County City, Town or school tax or other lien -3- shall extinguish the perpetual lien of such assessments herein provided to be made Section 6 Said bonds and coupons attached thereto shall be sub- stantially in the following forms UNITED STATES OF AMERICA STATE OF COLORADO CITY OF FORT COLLINS CONSOLIDATED SANITARY SEWER IMPROVEMENT DISTRICT N06 53 BOND No $500 The City of Fort Collins, in the County of Larimer and State of Colorado, for value received, adknowledges itself indebted and hereby promises to pay to the bearer hereof, the sum of FIVE HUNDRED DOLLARS in lawful money of the United States of America at the office of the Director of Finance of said City, on the lat day of November 1985, subject to call and payment, however at any time prior thereto, as provided in the City Charter, and Article 15 of the Code of Ordinances of the City of Fort Collins, Colorado 1958, as amended, with interest thereon from date until payment payable semi- annually, on the 1st day of Holy and lat day of November at the office of the Director of Finance of the City of Fort Collins, upon presentation and surren- der of the annexed coupons as they severally become due This bond is issued for the purpose of paying the cost of local improvements constructed in Consolidated Sanitary Sewer Improvement District No 53, by virtue and in full conformity with the Charter and ordinances of the City of Fort Collins This bond shall be callable at any time by the Director of Finance of the City of Fort Collins, as provided in Section 15-79 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended, which provides as follows "Whenever there are available funds in the City Treasury therefor, it shall be the duty of the Director of Finance to call in and pay a suitable number of any bonds outstanding, by giving notice for five (5) days in an official newspaper published in the City At the expiratioti of thirty (30) days from the first publication of such notice, interest on the bonds so-celled shall cease The notice shall specify by number the bonds called and all such bonds shall be paid in numerical order The holder of such bonds may at any time furnish his postoffice address to the City Clerk, and in such event, a copy of the publication shall be mailed by the City Clerk to the bondholder at such address, within ten (10) days after the date of publication n This bond is payable out of the proceeds of special assessments to be levied upon the real property, situate in said Consolidated Sanitary Sewer Improvement District No 53, especially benefited by said improvements, and the amount of the assessments so to be made upon the real estate in said district for the payment thereof, with accrued interest, is a lien upon the said real estate in the respective amounts to be apportioned to said real estate and to be assessed by an ordinance of said City, and the lien created -4- ok by said assessing ordinance, together with all interest thereon and penalties for default in the payment thereof, and all costa in collecting the same, shall, from the date of the final publication of the assessing ordinance here- after to be adopted constitute a perpetual lien on a parity with the tax lien for general State County, City or School tax, and no sale of such property to enforce any general State, City, or County, or School tax, or other lien shall extinguish the perpetual lien of such assessments herein provided to be made It is hereby certified and recited that the total issue of bonds of said City for said District, including this bond, does not exceed the estimate of the City Engineer, or the contract price for said improvements, or the amount authorized by law, and it is further hereby certified and recited that every requirement of law relating to the creation of said Consolidated Sanitary Sewer Improvement District No 53, the making of said local improvements and the issuance of this bond, has been fully complied with by the proper officers of said City, and that all conditions required to exist and all things required to be done precedent to and in the issuance of this bond to render the same lawful and valid, have happened and been properly done and performed and did exist in regular and due time, form and manner as required by law IN TESTIMONY WHEREOF, the said City of Fort Collins has caused this bond to be subscribed by its Mayor, countersigned by its Director of Finance, and attested by its Deputy City Clerk, under the seal of said City, and the interest coupons hereto attached to be attested by the facsimile signature of the Deputy City Clerk as of the lat day of November, 1965 Mayor (SEAL) Countersigned Director of Finance Deputy City Clerk (Form Coupon) No $15 00 On the lst day of , A D , 19 , unless the bond to which this coupon is attached has been called for prior redemption, the City of Fort Collins will pay to bearer, (FIFTEEN AND NO/100 DOLLARS) in lawful money of the United States of America at the office of the Director of Finance of Fort Collins, Colorado, being six months' interest on its local improvements bond, dated November, 1965, in Consolidated Sanitary Sewer Improve- ment District No 53 No (Facsimile Signature) Deputy City Clerk -5- Section 7 Whenever considered prudent by the Director of Finance he is hereby authorized and empowered whenever sufficient funds may be in his hands to the credit of Consolidated Sanitary Sewer Improvement District No F53 including six (6) months interest on the unpaid principal to advertise for five (5) days in the official newspaper of said City and call in a suitable number of bonds of said District for payment and at the expiration of thirty (30) days from the first publication interest on said bonds so called shall cease The notice shall specify the bonds so called by number and all bonds so issued shall be called and paid in their numerical order Section 8 When the improvements herein authorized have been completed and the same approved and accepted by the City of Fort Collins the costs as set forth above shall be assessed upon the real property in the District all as hereinbefore set forth Section 9 This ordinance shall be irrepealable until the indebtedness herein provided for whenever the same shall be created shall have been duly paid satisfied and discharged as herein provided r � Introduced, considered favorably on first reading and ordered published this 13th day of May, A D 19659 and to be presented for final passage on the 24th day of June, A D 1965 yor ATTEST /Z City Clem Passed and adopted on final reading this 24th day of June, A D 1965 1 mayor / ATTEST l/ �2 City C erk -7-