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HomeMy WebLinkAbout019 - 12/11/1936 - PROVIDING THAT THE PROCEEDS OF ANY SPECIAL ASSESSMENTS LEVIED ON ACCOUNT OF CURBING AND GUTTER INSTA ORDINANCE NO 19 1936 BEING AN EMERGENCY ORDINANCE PROVIDING THAT THE PROCEEDS OF ANY SPECIAL ASSESSMENTS LEVIED ON ACCOUNT OF CURBING AND GUTTER INSTALLATION IN CONSOLIDATED IMPROVEMENT DISTRICT NO 41 OF THE CITY OF FORT COLLINS, BE APPLIED SOLELY TO THE PAYMENT OR REDEMP- TION OF ANY BONDS HEREAFTER ISSUED IN THE NAME OF CONSOLIDATED IMPROVEMENT DISTRICT NO 41 WHEREAS, by proceedings taken in conformity with and pursuant to Ordinance No 7 of 1921, there was created a special improvement district of the City of Fort Collins known and designated as Consolidated Improvement District No 41, which district was created for the purpose of surfacing the streets within the boundaries of said district with a two and one-half inch mat composed of earth, gravel, sand and oil, in such proportions and combined in such manner as was specified in the specifications of the City Engineer, and for the further purpose of ordering in of curbing and gutters along said streets so to be improved in conformity with the ordinances of said city, and WHEREAS, some question arose relative to the validity of the proceedings in so far as the same related to the order- ing in of curbing and gutters and, in order to obviate said question, further proceedings were taken pursuant to and in full conformity with Ordinance No 6 of 1930, wherein and whereby the construction of said curbing and gutters and the levying of assessments upon the abutting property to defray the cost of the same, were authorized; and WHEREAS, a question has now arisen whether said supplementary proceedings so taken pursuant to Ordinance No 6 of 1930, are sufficient to permit the City of Fort Collins to issue special assessment bonds, payable out of the special assessments so authorized; and WHEREAS, the City of Fort Collins proposes to issue its special improvement bonds in the name of Consolidated Improvement District No 41; and WHEREAS, it is desirable that said bonds, when issued, be payable not only out of the special assessments levied to defray the cost of surfacing the streets within said district, but also out of the special assessments levied upon the property in said district abutting upon the streets which have been curbed and guttered pursuant to the proceedings here- inabove described: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT COLLINS: 1 That any special assessments levied upon any real property in the City of Fort Collins pursuant to that cer- tain resolution of the City Council of the City of Fort Collins duly passed, adopted and approved on the 8th day of May, 1936, when collected, are hereby ordered to be deposited by the City Treasurer to the credit of Consolidated Improvement Dis- trict No 41 of the City of Fort Collins, in the same manner and with the same effect as any otherfUnds derived from any other assessments are deposited to the credit of such account 2 That the proceeds of any such special assessments, when so deposited by the City Treasurer, shall be used and applied by him in the same manner as any other funds in said account, for the payment of the principal and interest upon or the redemption of any bonds hereafter issued by the City of Fort Collins in the name of Consolidated Improvement Dis- trict No 41 2 3 Any bonds hereafter issued by the City of Fort Collins in the name of Consolidated Improvement District No 41, are hereby declared to be payable out of the proceeds of any such special assessments; provided, however, that nothing herein contained shall be construed to prevent the payment of said bonds out of any other funds required by law to be deposited in the account of Consolidated Improvement District No 41 4 The proceeds of any such special assessments are hereby appropriated to the payment of the principal and interest upon, or the redemption of, any bonds hereafter issued by the City of Fort Collins in the name of Consolidated Improvement District No 41 5 This ordinance shall be irrepealable until all bonds issued in the name of Consolidated Improvement District No 41 of the City of Fort Collins have been paid or redeemed 6 In the opinion of the City Council an emergency exists for the preservation of the public health, peace and safety, and this ordinance shall take effect on its passage and publication, under and by virtue of the authority con- tained in Sections 6 and 7 of Article IV of the city charter Introduced, read at length and adopted by the unanimous vote of all the members of the City Council, this lath day of December, 1936 Co sioner Safety and -officio Mayor (SEAL) Attest: City Clerk 3 STATE OF COLOPD00 ) ss County of Larimer ) I I D McINTYRE City Clerk of the City of Fort Collins do hereby certify and declare that the foregoing Ordinance consisting of six (6) sections was duly proposed and read at length at a regular meeting of the City Council held on the llth day of December , A D 1936 , and was duly ado-oted and ordered published in the Fort Collins Express- Courier, a daily newspaper and the official newspaper of the City of Fort Collins by the unanimous vote of all members of the City Council as an emergency ordinance in accordance with the provisions of Sections 6 and 7 of Article IV of the City Charter and thereafter and on to-wit the 15th day of December A D 1936 said Ordinance No 1— was duly published in The Fort Collins Express-Courier a daily news- paper published in the City of Fort Collins Colorado IN WITNESS T'MREOF I have hereunto set my hand ana affixed the seal of said City, t'Zis 15th day of December I- D 193o City Clerk