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HomeMy WebLinkAbout029 - 04/07/1966 - RELATING TO THE CREATION AND ORGANIZATION OF CONSOLIDATED STORM SEWER IMPROVEMENT DISTRICT NO 14 ORDINANCE NO 299 19660 BEING AN ORDINANCE RELATING TO THE CREATION AND ORGANIZATION OF CONSOLIDATED STORM SEWER IMPROVEMENT DISTRICT NO 14, 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 requesting the creation of a special improvement district for the purpose of installing a storm sewer system in certain property more particularly described below, 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 19589 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 Chapter 15 of the Code of Ordinances of the City of Fort Collins, Colorado, 19580 as amended, to be known as Consolidated Storm Sewer Improvement District No 14, said District to comprise the following described property, situate in the County of Larimer, State of Colorado, to-wit Beginning 825 0 South from the NE corner of Section 15 Township 7 North Range 69 West of the 6th P M thence N 89 40 W 660 0 to the SW corner of the Ray L Randleman Subdivision in the City of Fort Collins, thence West 20 6 to the NW corner of Lot 4 of the C W Johnson Subdivision in the City of Fort Collins, thence South 110 0 to the NE corner of Lot 3 of the said C W Johnson Subdivision thence West 112 9 to the NW corner of Lot 3 of the C W Johnson Subdivision, thence North 90 0 , thence West 303 5 to the NW corner of Lot 24 Alvin L Miller Subdivision in the City of Fort Collins thence North 20 0 thence West 104 5 and thence South 165 0 thence West 460 0 thence S 00 20 E 5 0 thence West 400 69 to the SW corner of Lot 12 The Miller Brothers Second Subdivision which point is also the East right of way line of the Larimer County Canal No 2 thence in a southerly direction following the East right of way line of Larimer County Canal No 2 to a point which is S 89 54 28 E 334 08 from the NW corner of the SEk of Section 15 Township 7 North, Range 69 West thence N 89 54 28 W 60 0 to the NE corner of the Ninth Fairview Subdivision thence S 6 03 10 E 120 06 thence S 4 51 40 E 430 59 , thence S 20 30 40 E 182 24 , thence S 52*10 00 E 288 00 to the NW corner of the Second Fairview Subdivision, thence S 80 00 E 44 0 thence N 80 45 E 361 26' thence S 53030 41 E 86 47 to the NE corner of Lot 8 Block 8 of the Second Fairview Subdivision thence N 24 47 20 E 61 30 to the NW corner of Lot 1 of the Tenth Fairview Subdivision thence S 53 30 41 W 36 05 thence S 10*30 00 E 130 35 thence S 02 12 W 215 55 to the NW corner of Lot 11 Block 7 Fairview Subdivision, First Filing thence S 07 16 E 141 14 , thence S 02 22 E 346 44 to the SW corner of Lot 2 Block 6 of the Eighth Fairview Subdivision thence S 07 26 10 E 101 06 thence S 62 17 30 E 149 27 thence S00 02 30 E 111 53' to the SW corner of N� of SEk of SEk of Section 15, Township 7 North Range 69 West of the 6th P M , thence S 89 29 30 E 497 98 thence S 230 33 , thence E 500 00 , thence N 2 8 , thence E 330 0 to the East line of Section 15 Township 7 North Range 69 West of the 6th P M , thence North along said section line 549 19 thence S 89 53 14 E 663 78 to the SE corner of The Campus Gardens Addition, thence N 00 00'37 W 331 28 thence N 89 53 49 W 483 78 to a point which is 1 324 65 North and 180 0 East from the SE corner of Section 15, Township 7 North, Range 69 West thence North 1324 65 to a point 180 0 East from the West -I- corner of Section 15, Township 7 North Range 69 West of the 6th P M thence North 1303 6 to the South right of way line of Laurel Street, thence West 180 0 thence North 519 3 to the point of beginning excepting therefrom any of the above described property not within the limits of the City of Fort Collins Section 2 That the improvements to be constructed shall consist of the installation of a storm 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 One Hundred Thirty Thousand Forty-five and 34/100 Dollars ($130,045 34), exclusive of the cost of collection, legal and publication, engineering, financing, interest and other incidentals, and that the City at large shall pay 10 617 of the total cost of such improvements, and that the remaining 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 $ 021, 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 -2- be made the following charges seven per cent (77) of the total cost for cost of collection and of making the assessments and certifying the same for collection, two per cent (27) of the total cost for legal and publication and engineering, and in addition there shall be charged interest at the rate of six per cent (67) per annum on the total cost of construction during the period of construction 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 ordinancesof 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 Storm Sewer Improvement District No 14 as set forth in the map, plans and specifications heretofore adopted by the City Council be constructed The City Council further finds that the improvements to be constructed will benefit certain property not within the improvement district as defined above and not within the city limits of the City of Fort Collins and that these circumstances warrant the lowering of the amount of assessment against property in the District and the payment by the City at large of 10 617 of the total cost of the District Section 5 For the purpose of paying the costs of said improvements, bonds of the City of Fort Collins in the aggregate principal amount of not to exceed One Hundred Forty-two Thousand Five Hundred Fifty-eight and 27/100 Dollars ($142,558 27) 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, 19669 shall bear the name of Consolidated Storm Sewer Improvement District No 14 of the City of Fort Collins, Colorado, and shall bear interest at the rate of six per cent (6%) per annum, payable semi-annually, said interest to be evidenced by coupons attached to the principal bond and attested by the fac- simile signature of the Deputy City Clerk, which said bonds shall be in denomi- nations of not more than One Thousand and No/100 Dollars ($1,000 00) each, and -3- 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 shall sell said bonds 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 Con- solidated Storm Sewer Improvement District No 14 and the funds so collected shall be used only for the payment of the work of construction of said improve- ments 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 ten (10) 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 general 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 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 -4- UNITED STATES OF AMERICA STATE OF COLORADO CITY OF FORT COLLINS CONSOLIDATED STORM SEWER IMPROVEMENT DISTRICT NO 14 BOND No $12000 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 ONE THOUSAND AND NOIIOO DOLLARS in lawful money of the United States of America, at the office of the Director of Finance of said City, on the first day of November, 1976, 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- annu,fally, on the first day of May and the first 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 constructed in Consolidated Storm Sewer Improvement District No 14, 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, 19580 as amended, which provides as follows 4J "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 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 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 bondholder 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 Consolidated Storm Sewer Improvement District No 14, 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 here- after 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, City, County, Town or School tax, or other lien shall extinguish the perpetual lien of such assessments herein provided to be made -5- 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 Storm Sewer Improvement District No 14, the making of said local improve- ments 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 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 first day of November, 1966 Mayor Countersigned SEAL Director of Finance Deputy City Clerk (Form Coupon) No $30 00 On the first day of , A D 19 , unless the bond to which this coupon is attached has been called for pri— or redemption, the City of Fort Collins will pay to bearer THIRTY AND N01100 DOLLARS in lawful money of the United States of America, at the office of the Director of Finance of Fort Collins, Colorado, being six (6) months interest on its local improvements bond, dated November, 1966, in Consolidated Storm Sewer Improvement District No 14 (Facsimile Signature) Deputy 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 Consolidated Storm Sewer Improvement District No 14, including six (6) months' interest on the unpaid principal, to advertise for -6- 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 here- tofore adopted, which advertisement shall be twice published in an official newspaper in the City Said publications are to be at least a week apart, and the date for opening of bids shall be not less than ten (10) days after first publication and bids received under said advertisement shall be submitted to the Council for approval or rejection Advertisements for bids shall comply with the requirements and be in accordance with the provisions of 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 com- pleted 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 hereinabove set forth Section 10 This ordinance shall be irrepealable until the indebted- ness 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 17' day of March, A D 19669 and to be presented for final passage on the 7' day of April, A D 1966 Yor ATTEST �P__ City C1 rk .7. Passed and adopted on final reading this 7b1 day of April, A D 1966 ;��/ H� 4LO� Mayor ATTEST City Clerk -8-