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HomeMy WebLinkAbout023 - 07/02/1964 - RELATING TO THE CREATION AND ORGANIZATION OF CONSOLIDATED IMPROVEMENT DISTRICT NO. 58 cMLWICi; NO, 23 , 1964 DING AH amru ►CE REIA1'1 U" go THE C.LrAfICU AND OMANIZATIU; Ole' CCUSOLIIIATU, ) 11 'AOV.&XT DIST-ICT H0. 58, PauvnING FOi THE CONSTIUCTION OF I Ti0VR- MTS THrjt= AND AUTHO UZIl'SO ME I83UANCS' OF BM-MS TO SAY THE COSTS OF C0K3T4Tr%,TI0N TH340? WIMU S heretofore o+rittea petitions werel duly filed and presented I to the City Council requesting the creation of a special improvement district for the purpose of improving certain streets and alleys by grading and sur- facing the sam with asphalt surfacing and bor installing curb and gutter where necessary, and WHEa=. the City Council bass pursuant to said petitions, received the necessary reports and given the notice required,i all as specified in Chapter 15 of the Coda of Ordinances of the City of; Fort Collins, Colorado, 1958s as amended, and MMULS certain remonstrances bave bees filed is connection Frith the foriation of the district, and WHEIE0 the City Council finds that circumstances warrant that the property consisting of the W 275 feet of W. Prospect Street on the North side thereof should be excepted from the assessments of said district and further finds that the property fronting on Hawking Street from Cherry Street to Sycamore Street should be excluded from said district, and 6eAroU&S the City Council has determined that the other remonstrances which have been properly filed with the City Clerk should be overlooked, and W r.iW the City Council is of the opinion that it is is the best interest of the City of Fart Collins to forms said special improvement district. Now, THEMM-0$ BE IT =A= DY THE C=GIL OF THE CITY OF FOIT COLLINSi Section 1. That there is hereby crested and organised an Improve- ment district under and by virtue of the provisions of the Chapter 15 of the Carle of Ordinances of the City of Fort Collins, dolorado, 1958, as amended, to be kamn as Consolidated Improvement District Ho. 58, oopprised of all the pro- porty fronting on the following streets and all.eyet Maple Street from Whitcomb Street to Grant Streets Parker Street from College Aveauo to Remington Streets Prospect Strout fro*i the Last boundary of Lot 22 in Blevins Subdivision and the Last boundary of Lot 85 in Arthur C. Sheeley Third Subdivision to Shields Street, ercent the N side of the W 275 feat thereof which it herewith excepted from the as$oS3ment9; Sycamore Street from railroad tracks to Sherwood Street; Alley in Block 104 from Ns Alley to ►aas4n Street; Alloy in Block 123 from Plum Street to Locust Street; Last Allay in Block 143 from Plum Street to Locust Street; Alley in Columbine Court Second Subdivision from Columbine Street to Maple Street; Section 2. That the improvements to be constructed shall consist of the improve qent of the above named streata and alleys by grading and asphalt surfacing the same, and where necessary b,f installing curb and gutter all as more fully sat forth in the snap, plans and specifications heretofore submit» i ted by the City 'AVinaer and accented by the City Council by resolutions on the 23rd day of April, 1964, Section 3• That the total cost of such improvements shall not exceed the City Et�inaer's estimate heretofore accepted of Fifty Three Thousand E1.Zht Hundred Forty Five Dollars and Hinety-eight Cents ($53,845,98) and that said total cost shall be assessed 4gainst the assessable frontage on the streets and alleys !.A said district based on the zuMber of feat of said properties abutting on said streets and alleys at the following rates: PATIO ASS:231AUIT PL$ Sj-jSP�*,:T ABUPTI240 FOOT �, Maple Street fro-nCfiitcomb Street to Grant Street $3.90 rjarver 5traet from College AvMue to le in�toi Street 3.90 Prospect Street fross the Fast bettdrj of Lot 22 in Blolrin3 oubdivision and the nest bourdary of Lot 85 in Arthur C. Sheelcy Third Subdivision to yzields 3trest$ except the N side of the W 27$ feet thereof which is herewith exeepted from the asses:smonts 5.00* Sycamore Street from railroad tracks to Sherwood Street 4.90 Alle,r in Block 104 ,from N 3 Alley to Hason Street 1.55 Alley in Block 128 from Fl.un Street to Locust Street 1.85 Last Alloy in Block 148 from Plum Street to Locust Street 1.85 Alloy in Columbine Court Second Subdivision from Colu=ine Street to raple Street 1.85 *Prise shown based on improvement of entire street. In some areas on Prospect Street a portion of the improvemnts have been installed and in these area the cost per abutting foot will. be $2.00; in addition, curb and gutters vthere not inatalled shall be Install at a cost -2- to be assessed against the abutting properties of $2 05 per abutting lineal foot To said cost to be assessed shall be added i0eree necessary, the cost of hater and sewer services to be installed :he amo. nt set forth above to be aosassed shall be assessed against the miners of property in said district abutting upon streets and alleys sot forth above on the basis of the frontage of said property abutting said streets i and all.ejs at the amounts set forth above for gradil430 pavement, and curb and gutter and the cost of sewer and eater connections where required shall be added to the assessnants against the proper„tr served by said connections i such assessments shall be made in 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 oursuant to notice duly wailed and p.blished all as provided in Chapter 1,5 of the Mode of Ordinances in the pity of Fort Collins, Colorado, 19581, as amended, considered all complaints and objections made and tiled in writing by the owners of any real estate to be assessed or any persona interested and the Uity Council further finds that all requirements of the ordinance of the City of Fort Collins respecting the petitions and imnrove*wnts have been observed and complied with in all respects and it is hereby ordered that the improvownts of the Consolidated Improvement District No 58 as provided for in the mar), plans and specifications heretofore adopted by the City Council be and thoy are here2V ordered to be constructed Section 5 For the purpose of paying the costs of said iVrovements, bonds of the City of wort Collins in the aggregata principal amount of not to eyceed $53..845 A 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, 1964 Said bonds shall bear the name of Consolidated Iumrove-lent District No 58 of the City of fort Collins, Colorado, and shall bear interest at the rate of 5� per annu% parable semi-annually; said interest to be evidenced by coupons attached to the principal bond and attested by the facsim" signature of the Deputr City Clerk, which said bonds shall be in denominations of not more than $110DO OD each, and each of said bonds shall be subscribed by the Mayor, counter- signed bf the D-rector of Finance and shall have the corporate seal of the City at4.ixea tnereto, attested by the Delaty City Clari , and said bonds shall be registered wirh the M-ector of 7inarrao and shall be delivered from time to tins as required for the payment of the Maori herein provided, or the Co ncil, in its discretion, say sell said bonds to paf such costs in cash,, and said bond., shall be sold to the highest and best biddars or rush, but in no event for less t,-= par, and in all czaas to tho beet advantage of the City Said bonds shall be rodesaable out of the monefa collected on account of the assess g-uts made Lar said improver-ants, and all monefs collected .from said assessments or fr" the sale o; bonds for said improve-aents shall be credited to the Consolidated Improve -eat District No 53 and the funds no collected 811sall. be used onl f for the paymnt of the work of construction of said improvements and the .interest, collection costs and other incidental expenses thereon Said bonds small be numbered conse- cutively and &411 be redeemable consecutively acmding to awnber and in the ord3r of issuance, acid the Director of I'lrance shall preserve the retards cow corning the issuance of said bonds in a suitable boon kept for said purposes All of said bonds shell be absolutely due and payable ten (l0) years hose sate of issue, and shall be subject to call and payment at anY timer prior thereto All assessments made pursuant to this ordinance together with all interest thereon, penalties for deiault in payment thereof, and all coats in collecting the sans Shall from the date of final publication of the assessing ordinance hrrcal�ter to be adooted, constitute a ,)arpatual Len on the properV therein assessed on a parity with the tax Lien for general. State, County, City, Town or School taxes and no sale of' such provt�rty to enforce wV general State, County, City, Town or School tax or other lion, shall extinguish the perpetual lien of such assessments herein provided to be made Section 5 Said bonds and coupons attached thereto shall be sub- stantially in zhe following formst MtITDD STAT.:a or AU MCA. 01130 IDAT D IIMOVM-fir DISTs'tICT NO 53 BOND l Ho $1,000 City of Fort Collins, in the County to Tarimer and State of Colorado, for value recaived* ao4awledgss itself indebted and hereby promises to pay to the beaisr hereof, tho sum of aa" MOMA,T DOMMS in latrful won,-y of the baiten States of America, at the office of the Director of rinance of said City, on the lot day of Hovember,, 1974p subject to call and paj-rsnt, hoaevcr, at arry tmw psfor thereto, as provided in the City Cha-ter, and Article 15 o: the Code of Cidinances of the City of Fort Collins, Colorado, as arteac ed, with interest tiercon from data until pag-mcnt, pa7abla seii-ann.ully, on the 1st day of 1my and 1st dray of November at the office of the Director of Finance of thi City of rort Collins, ipoa presentation and surrender of zhe annexed voupons as they sevatrally become due. This bond is issued for the purpose of paring the cost of local i=rove- meitts constructed in Consolidated I-prove-mat District No 53, in said Gi.ty, con- sisting of the grading and surfacing of certain streets and alloys with ssnhalt z tr_ac.ung and b f installing curb and gutter ana water and seu-er connocw.Lons where necessary by virtue and in full conformity with the Charter and ordinances o: the City of eort Collins Mi.s bond shall bo cal?aable at arW time b, the Diroctnr of riannee of the City of Fort Collins as provided in Section 15-79 of the Code of Oriinances of the City of r rt Collins, Colorado, 195ds as amaaded, Mich provides a.3 _ollOWsr " lionaver there are available funds in the City Treasury tharefo-e, it shall be the duty of the Director of Finance to call in and pay a suitable ate I�-,r op arV bo-"s outsLanding, by giving notice for five (5) days in an of_ieial ner•spaper published in the City. At the expiration of Thirty (30) d-,s fro-n the i�xst Dualicabion o° such notice, interest on the bonds so called shall ceaso The notice shall specify by number the bonds called and all such boil sreall be paid in numerical order. The holder of anV such oo-sds W at any tine furnish his postoft"ice address to the CiV Clerk, and in such anent, a copy of We ptwlica ion bholl be mailed by the City Clerk to the bondholder at such address, within ton (10) days after the dates of publication " This band is payable out of the proceeds of special assess wnts to be to ied upon tho real property, situate in said Consolidated Irnnrovement District No 0. esr>ecially bener.itod by said inprovements, and the amount at the assess. no is so to be wane upon true real eo"te in slid di strict for the nays^nt tnoreof, wi'h accrued into eat, is a liar upon the said real estate in the respective a-counts to oe .-)portioned to said real estaov and to be assessed by an ordinance of said City, and the lien created by said assessing ordinance, together anth all inteeresL Vhuresan ana penalties for oetaulz in the IkV=nt thereof, and all costs in collecting the same, shall., from the cats of the t'inal publication of the assassin; ordinance hereafter to ba adopted, constitute a perpat of lien on a nwwirity with the tax liven for general State, County,, City, or School tax and no sale of such pronarty to enforce any General State, County, City, or xhool tax, or other lien stall 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 o, the City wngineeer, or the contract price for said imrovenents, or the account authorized by law; and 2.t is further certified and recited that every requirement of lass relating to the creation of said Consolidated Improvevent District No y8, the making of said local improvenents and the issuance of this bond, has bziea Sully eakolied srlth by the proper oiUcers od said City, and that all conditions required to exist and all things required to bo doss precedent to and in the issuance of this bond to reader the same lawful and valid, have happened and been properly done and performed and did exist in regular and due time, form and scanner as required by law 33 T%TItMY 1MSOF, the said City of Fort Collins has caused this bond to be suoscirb©d b,- its YaWor, countersigned V its Director of rinance, and attested by its Deputy City Clerk, under the seal of said City, and the interest coupons hereto attached to be attested by the facsim" signature of the Director of Finance as of the lst day of V*vwftr, 1954* or (KAL) COUNT tSSCaiEDt ATTr"M i Director of Finance Deputy er (Form Coupon) No ! $30 00 On the lat day of A D. 19 s unless the band to which this counon is attache as been called for priox redemptioat, the City of Fort Collins yil.l pay to bearer, (THL= AND NOAM DMLMS) in lairful money- of the United States of America: at the office of tho Director of Finance of Fort Collins, Colorado, being six months' interest, on its local improvement bond, dated November, 1964, issued for the grading and surfacing of certain streets and alleys with asphalt surfacing and by installing curb and gutter and water and sewer co=actions thers necessary in Consolidated Improvement District No 58. i PIo (Facsimile Signature) •,•,•'—•�••�. D rector or r nce 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 Icmprovement District No 58, 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 psymut and at the expiration of thirty (30) days frost the tfirst publication, interest on said bonds so called shall ceasee The notice shall specify the bonds so called by number of all bonds so Issued shaU be called and paid in their numerical order Section 8 Upon the taking effect of this =finance, the Mayor is herebp authorized and empowered to advertise for bids for the construction of said Inprwa tents In accordance with the step* plat and specifications hereto- _6- fore adopted, which advertisement shall be twico published in an official news- pacer published in the City Said publications are to be at least a week apart, and the W13 Par opooiM of bids shall be not leas than ten (10) days after first publication and bids received under said sdvertiasr� tt shall. be submitted to the Council for apn*oval or refection. Advertisaments for bids shall co=ly with the requirements and be in accordance with the provisions of Section 15-60 of the Codre I of 0-dinances of the City a: Fort Collins, Colorado, 1958, as amended Section 9 When the improvements herein authorised have been c%Tleted and the soma approved and accepted by the City of cart Collins,, the costs as :et fowth above shall be assessed upon real prerjerty, iri the District all as heroin befo-9 set forth Section 10 This ordinance shall be Srrepealable until the indebtedness i herein provided for, whenever the saw shalll, be creIated, shall have been du3,,f paid: satisfied and discharged as herein provided, Introduced, considered favorably on first reading and ordered published this llth day of June, A, D , 3964j and to be pressnted for final passage on the 2nd day of July, A, D , 39� i r AT1,AOT s *Passed and adopted on final reading this 2nd flay of July, A D , 19=4 t � vc+ Y� ATTIZT t Y