Loading...
HomeMy WebLinkAbout047 - 09/03/1970 - RELATING TO THE CREATION AND ORGANIZATION OF STREET LIGHTING IMPROVEMENT DISTRICT NO. 3 ORDINANCE NO. 47, 19701 BEING AN ORDINANCE RELATING TO THE CREATION AND ORGANIZATION OF STREET LIGHTING IMPROVEMENT DISTRICT NO. 3, PROVIDING FOR THE CONSTRUCTION OF IMPROVEMENTS THEREIN, AND AUTHORIZING THE ISSUANCE OF BONDS TO PAY THE�,COSTS OF CONSTRUCTION THEREOF WHEREAS, heretofore written petitions were duly filed and presented to the City Council requesting the creation of a special improvement district for the purpose of installing artificial street lighting; and WHEREAS, the City Council has, pursuant to said petitions, received the necessary reports and given the notice required, all as specified 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 improvement district under and by virtue of the provisions of Chapter 15 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended, to be known as Street Lighting Improvement District No. 3, said District to be comprised of the following described property: Part of the NW; of Section 24, Township 7 North; Range 69 West of the 6th P. M. , more particularly described as follows: Lots 1 through 9, Bristol Subdivision; Lots 10 through 36, BristolREsubdivision; Lots 8 and 9, Glantz Subdivision; Lots 12 and 13, M. L. Deines Subdivision; Lots 3 through 8, Flinn's Resubdivision of Block 3 of Gray-Strecker Subdivision; Lot 5 and Lots 7 through 16, Block 2, Gray-Strecker Subdivision; Lots. 3 through 8, Block 1, Gray-Strecker Subdivision; Lots 4, 5, 6 and the South 124 feet of Lot 7, Justice Place; Lots 27 through 38 of Persons Resubdivision; Lots 1 through 6 and Lots 10 through 18 of Block 1 and Lots 1 through 9 and Lots 14 through 18 of Block 2 of Alpert Subdivision; Lots 1 through 7 of Orchard Park First Filing and Lots 8 through 17 of Orchard Park Second Filing; Lots 8 and 9 and Lots 2 and 3 of Kessler Subdivision; also begin at a point 300 feet West of the SE corner of the SW', of NE; of NWa of Section 24, Township 7 North, Range 69 West of the 6th P. M. , thence West 359 feet, more or less, to the West line of the SW', of NE; of N1N,, thence North 662 feet, more or less, to. the North line of SW; of NE; of NW4, thence East along said North line 359 feet, more or less, thence South 662 feet, more or less, to point of beginning; also begin 150 feet West of the SW corner of SE4 of NE; of NW4 of Section 24, Township 7 North; Range 69 West of the 6th P. M. , thence North 195 feet, thence East 365 feet, thence South. 195. feet, . thence West 365 feet to point of beginning; also begin at the SW corner of the Wz of NE', of NE', of NW; of Section 24,.Township 7 North; Range 69 West of the 6th P. M. , thence North 182 feet, thence East 210 feet, thence South 182 feet, thence West 210 feet to beginning; also begin at the NE corner of the SE; of NW; of Section 24, Township 7 North, Range 69 West of the 6th P. M. , thence West 1,636.50 feet, thence South 50 feet, thence East 1,636.50 feet, thence North 50 feet to beginning; also begin at the SE corner of NE; of NW; of Section 24, Town- ship 7 North, Range 69 West of the 6th P. M. , thence North 229.45 feet, thence East 164.77 feet, thence South 229.45. feet, thence West 164.77 feet to beginning; also beginning at a point which bears North 473.71 feet from the SE corner of NE; of NW', of Section 24, Township 7 North, Range 69 West of the 6th P. M. , thence North 657.51 feet, thence East 185.00 feet, thence South 657.51 feet, thence West 185.00 feet to beginning. Section 2. That the improvements to be constructed shall consist of installation of artificial street lighting improvements within the boundaries of the District, all as more fully set forth in the map, plans and specifications heretofore submitted by the City Engineer and accepted by the City Council by resolution on the 2nd day of July, 1970. Section 3. That the total cost of the improvements in said District, exclusive of the cost of collection, legal and advertising, engineering, financing, interest and other incidentals shall not exceed the City Engineer's estimate heretofore accepted of $3,984.00 and that of said total cost one-half (z) of the same, plus the cost of collection, legal and advertising, engineering, financing, interest and other incidentals, shall be assessed against the assessable frontage on streets in the District for a maximum assess- ment of Eleven ,Cents. ($:11) per abutting, foot. _ The amount set forth.-above to be "assessed shall be assessed against the owners of property in said District abutting upon the streets set forth above on the basis of the frontage of said property abutting said streets at the amounts set forth. above, and the remaining balance of the cost of said improvements not to.be assessed shall be paid by the City of Fort Collins. Such assessments shall be madein accordance with the provisions of Chapter 15 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended. Section 4. That the City Council has pursuant to notice duly mailed and published, all 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 the City Council further finds that all requirements of the ordinance of the City of Fort Collins respecting the petitions and improvements have been observed and complied with 'in all respects, and it is hereby ordered that the improvements of Street Lighting Improvement District No. 3 as provided for in the map, plans and specifications heretofore adopted by the City. Council be and they are hereby ordered and constructed. Section S. For the purpose of paying- the costs of said improvements, bonds of the City of Fort Collins in the iggregate..principal amount of not to'exceed .$2,072.00 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, 1970. Said bonds shall bear the name of Street Lighting Improvement District No. 3 of the City of Fort Collins, Colorado, and shall bear interest at the rate of :six per cent (60) per annum, payable semiannually; said interest to be evidenced by coupons attached to the principal bond and attested by the facsimile signature of the 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 City Clerk, 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 Street Lighting Improvement District No. 3 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 according 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 three (3) 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 in 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 general State; County, City, Town of School taxes and no sale of such property to enforce any general State, County, City, Town or School tax or other lien, shall extinguish the perpetual lien of such assessments herein provided to be made. Section 6. Said bonds and coupons attached thereto. shall be substantially in the following forms: -2- L UNITED STATES OF AMERICA STATE OF COLORADO CITY. OF FORT COLLINS STREET LIGHTING IMPROVEMENT DISTRICT NO. 3 BOND No. $500.00 The City of Fort Collins, in the County of Larimer and State of Colorado, for value received, acknowledges 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 1st day of November, 1973, 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, as amended, withtnterest thereon from date until payment, payable semiannually, on•.the 1st day of May and 1st day of November at the office of the Director of Finance of the City of'Fort Collins, upon presentation and surrender of the annexed coupons as they severally become due. This bond is issued for the purpose of paying the cost of local improvements con- structed in Street Lighting Improvement District No. 3 in said City, consisting of the installation of artificial street lighting 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 out- standing, by giving notice for five (5) days in an official newspaper published in the City. At the expiration of thirty (30) days from the first publication of such notice, interest on the bonds so called shall cease. The notice shall specify by number the bonds called and all such bonds shall be paid in numerical order. The holder of any such bonds may at any time furnish his post office address to the City Clerk, and in such event, a copy of the publication shall be mailed by the City Clerk to the bond- holder at such address, within ten (10) days after the date of publication." This bond is payable out of the proceeds of special assessments to be levied upon the real property, situate. in said Street Lighting Improvement District No. 3, 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 by said assessing ordinance, together with all interest thereon and penalties for default in the payment thereof, and all costs- in collecting the same, shall, from the date of the final publication of the assessing ordinance hereafter to.be.adopted, constitute a perpetual lien on a parity with the tax lien for general State, County, City, Town, or School tax, and no' sale of such property to enforce any general State, County, City, Town 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 Street Lighting Improvement District No. 3, 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. -3- IN TESTIMONY WHEREOF, the said City of Fort Collins has caused this bond to be sub- scribed by its .Mayor, countersigned by its Director of Finance, and attested by its City Clerk, under the seal of said City, and the interest coupons hereto attached to be attested by the facsimile signature of the Di1 ,"city C- erkn:.- as of the 1st day of November, 1970. (SEAL) ATTEST: May " COUNTERSIGNED: City Clerk Director of Finance (Form Coupon) No. $15.00 On the 1st 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 DOLLARS in lawful money of the United Stateso£ America, at the office of the Director of Finance of Fort Collins, Colorado, being six months' interest on its local improvement bond, dated November 1, 1970, issued for the installation of artificial street lighting in Street Lighting Improvement District No. 3, attached to bond. No. (Facsimile Signature) City Clerk 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 Street Lighting Improvement District No. 3, including six 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. Upon the taking effect of this ordinance, the Mayor is hereby authorized and empowered to advertise for bids for the construction of said improvements in accordance with the map, plans and specifications heretofore adopted, which advertisement shall be twice published in an official newspaper published in the City. Said advertisement for bids shall be published as provided in Section 15-60 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended, and in conformance with said section shall contain provision reserving the right to reject any or all bids. All bids received under said advertisement shall be submitted to the Council for approval or rejection. In the event no bids are received or all bids rejected by the Council, then the Council may again advertise for bids without further ordinance or may order the materials purchased and the work done under the supervision and control of the City Engineer as provided in Section 15-60 of the Code of Ordinances of the City of Fort Collins, Colorado, 1958, as amended. Section. 9. 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. -4- Section 10. 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. Introduced, considered favorably. on first reading, and ordered published this 13th day of August, A. D. 1970, and to be presented for final passage on the 3rd day of September, A. D. 1970. Mayo ATTEST: City Clerk Passed and adopted on final reading this 3rd day of September, A. D. 1970. Ma, ATTEST: City Clerk / -5-