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HomeMy WebLinkAbout007 - 04/23/1927 - RELATING TO THE CREATION OF NORTH COLLEGE AVENUE IMPROVEMENT DISTRICT NO. 26 (EMERGENCY ORDINANCE) ORDINANCE NO. , 1927, BEING AN EMERGENCY ORDINANCE RELATING TO ��_E CREATION OF NORTH COLLEGE AVENUE IMPROVENIENT DISTRICT NO. 26, PROVIDING FOR THE CONSTRUCTION OF IMPROVEMENTS THEREIN, AND AUTHORIZING THE ISSUANCE OF BONDS TO PAY THE COST OF CONSTRUCTION THEREOF. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF KRT COLLINS Section 1. That pursuant to a petition lily filed and presented to the City Council on the 26th day of February, A. D.19279 which said petition was duly and regularly signed by the owners of more than one-third of the frontage in the proposed district, as evidenced by a resolution of the City Council duly passed and adopted on the 26th day of February, A. D. 1927, there is hereby created and organized an improvement district under and by virtue of the provisions of Ordinance No. 7, 1921, relating to local public improvements, passed and adopted April 2, 1921, as amended by 6rdinance No. 9, 1926, to be known as North College Avenue Improvement District No. 26, comprising the lots and blocks and lands abutting on said North College Avenue as follows, to-wit : Lots 1 to 21 inclusive in Block 22, and Lots 1 to 20 inclusive in Block 14, being a portion of North College Avenue between Laporte Avenue and Maple Street, for a width of approximately thirty (30) feet in the center of the block on North College Avenue between said Laporte Avenue and Maple Street , in the City of Fort Collins, Colorado. Section 2. That the said petiticai prayed for the improvement of the said district by grading, paving,and draining where necessary, of the street area in said proposed district for: a width of approximately thirty (30) feet in the center of the block on North College Avenue between said Laporte Avenue and Maple Street , said paving to consist of reinforced concrete paving the same as has already been installed in other permanent improvement districts within the corporate limits of the City of Fort Collins , which said petition was made and filed under the provisions of Ordinance No, 7, 1921, as -1- amended by Ordinance No. 9, 1926, and that the plans and specifications, together with the map prepared by the City Engineer be and the same are hereby adopted"'as the map, plans and specifications for said district, and said work of construction of said improvements is hereby ordered to be clone in a:eoordanoe therewith, as provided by law, together with the estimated cost of the construction of said improvements amo-unting to $6522.65 , the cost per front foot is estimated at $6,36356 and the estimated cost of a lot 50 feet by 1.40 feet is $318,18, and which amount of $6522.65 includes the cost to be assessed against the property owners for the i mpr ovement of the said district , and all to be assessed against the owners of lots and land in said district abutting upon said improvements, vhen completed; and accepted, in aecor dance with the provisions of Sections 7 and 8 of Ordinance No, 7, 1921, as amended by Ordinance No, 9, 19&6. Section 3. That pursuant to the requirements of the resolittion of the City Council duly adopted on the 12th day of March, A. D. 1927, due notice was given to the owners of property to be assessed, by due and lawfal publi oat ioh in the Fort Collins Express- Courier, a daily newspaper of general circulation in the City of Fort Collins, for a period as required by law, as shown by the proof of publication on file in the office of the City Clerk, which said notice was to the owners of the property to be assessed and designated the kind of improvements. proposed, the number of installments and the time in which the cost would be payable, the rate of interest on the unpaid and deferred installments, the extent of the district improved, together vd.th the probable cost per front foot, as shovm by the estimat a of the City Engineer and to the further effect that on the 23rd day of April,, A. D. 1927, at eight o 'clock A. M. in the Council Chamber in the City Hall of the City of Fort Collins, the City Council would hear and determine all complains .2— and objeetions that might be made and filed in writing concerning the proposed improvements by the owner of any real estate to be assessed, that in pursuance of the said notice the said City Council did sit to hear complaints at said meeting held on the 23rd day of April, A. D. 1927, and that no complaints in writing concerning the proposed improvementa had then and there been filed with the City Clerk. Section 4, The City Council finds that all the require- ments of the statute respecting the petition for said improvementa and the resolutions and notices required by law to be given in respect thereto before the adoption of an ordinance ordering sail improvements have been observed and complied with in all respects , and it is hereby ordered that the improvement of North College Avenue Improvement District No. 26 as provided for in the map, plans and specifications heretofore adopted by the City Council, an& approved in this ordinance, be ani they are hereby ordered to be constructed. Section 5. For the purpose of paying the cost of said improvements, bonds of the City of Fort Collins are hereby authorized to be issued by the Commissioner of Finance and Ex- Offioio Treasurer of the City of Fomt Collins, which said bonds shall bear date at such times as may be fixed by the City Treasurer after the work of improvement has been commenced in said d 3s trict, but said date shall be uniform for all bonds issued, and in such form as may be approved by the City Come it after submission by the Commissioner of Finance , said bonds shall bear the name of NortYA College Avenue Improvement District No. 26 of the City of Fort Collins, and shall be payable in twenty (20) annual installments, five (5%) per cent thereof payable in each and every year during said period, and shall bear interest at the rate of four and three- quarters (4-3/4%) per cent per annum, payable semi-ananally, said -3- interest to be evidenced by coupons attached to the prine ipal bond and attested by the fac simile signature of the City Clerk, which said bonds shall be in denominations of "r, ✓ e Hundred ( 4zj o o 0, ` ) Dollars each. Each cf said bonds shall be subscribed by the Commissioner of Safety and Ex-Officio Mayor, countersigned by the Commissioner of Finance and Etc-Officio City Treasurer, and attested by the City Clerk with the corporate seal of tha City, and registered with the City Treasurer, and shall be delivered from time to time as required for the payment of the work herein provided. Said bonds shall be redeemable out of the moneys collected on account of the assessments made for said/improvements; all moneys collected from said assessments or from the sale of bonds for said improvements shall be Credited to North College Avenue Improvement District No. U, and the funds so collected shall only be used for the payment of the work of CQistructi. on. of said improvements and the interest thereon. Said bonds shall be numbered from 1 to /-�/ inclusive, and shall be redeemable consecutively, according to number and in the order of issuance. Said bonds shall only be issued and delivered by the City Treasurer on estimates and order of the City Engineer signed and approved by the Commissioner of Safety and Ex-Officio May&r, when said estimates have been duly audited and approved by the City Council and ordered paid. All of said bonds shall be absolutely due and payable twenty (20 ) years after the date cf issue, but shall be subject to call and payment at any time pri&r thereto, as provided in Section 27 of Ordinance No. 7, 1921, as amended by Ordinance No, 9, 1926. Pursuant to the power and authority contained in Section 29 of Ordinance No, 7, 1921, the payment of all the bonds issued by virtue of this ordinance is hereby guaranteed by the City of Fort Collins. Section 6. Said bonds and the coupons attached thereto shall be in substantially the following form: -4- UNITED STATES OF AMERICA STATE OF COLORADO CITY OF FORT COLLINS NORTH COLLEGE AVENUE Il,PROMTENT DISTRICT NO. 26 No. . The City of Fort Collins, in the County of Larimer, aml State of Colorado, for value received, acknowledges itself indebted and hereby promises to lay to the bearer hereof, the sum of Dollars in lawful money of the United States, at the office of the City Treasurer of said City, on the day of , 19 , subj eet to call and payment ; however, at any time prior eto, as provided in the amendment of Section 1 of Article XVII of the City Charter , passed and adopted April 6, 1920, and Ordinance No. 7, 1921,rel4ting to local public improvements, as amended by Ordinance No, 9, 1926, with interest thereon from date until payment at the rate of four and three-quarters (4-3/4%) per cent per annum, payable semi-annually, on the day of , 19 , and the day o 19 ,tithe o ffi ce the City Treasurer of the City of Fort Collins , upon presentation and surrender of the annexed coupons s they severally become due. This bond is issued for the purrpose of paying the cost of the local improvement in North College Avenue Improvement District No. 26, by virtue of and in full conformity- with the amendment t� Section I of Article XVII of the City Charter, passed and adopted April 61, 1920, and Ordinance No.7, 1921, relating to local public improvements, as amended by Ordinance No, 9, 1926. This bond is payable out of the proceeds and spmeial assessments to be levied upon the real property situatee in the City of Fort Collins in said North College Avenue Improvement Dis;triet No. 26, ealneially 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 apportiazed to said real estate and to be assessed by an ordinance of said city, said lien having priority over all other liens , except other bonds heretofore issued by said City, and the lien of general taxes, but payment of said bonds is guaranteed by the City of Fort Collins as provided by ordinance; and 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 Ergineer, and the contract price of said improvements, nor the amount authorized by law; and it is further certified and recited that every requirement of law relating to the creation of said North College Avenue Improvement District No. 26, the making of said local i npr ovement 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 b e em 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 Fit Collins has eausea this bond to be subscribed by its Commissioner of Safety and Ent-Offieio Mayor, countersigned by its Commissioner of Finance and Ex- Offieio City Treasurer , and attested by its City Clerk under the -5- seal of said City, and the interest coupons thereto attached to be attested by the fae simile signature of the City Clerk at of the day of , 19 Commissioner of Safetyand Ex-Officio or COUNTERSIGITED. Commissioner of Finance and Ex-Ofricio City Treasurer . ATTEST City Clerk, (Form of Coupon) NO, On the clay of , 19 , the ify of Fort Collins w3l pay tot the tearer Dollars in lawful money of the United S a es at the offiee o e Treasurer of Fort Collins, Colorado, being six months' interest cm its local improvement bond dated , 19 , issued for the construction of the local improvementown as orth College Avenue Improvement Distriat No. 26, provided this bond shall not have been heretofore paid. Attached to Bond No. city Clerk, Section 7, The Commissioner of Finance and Ex-Offieio Treasurer is hereby authorized and directed to have printed a sufficient number of bonds of the denominaticam of F v e Hundred/( Dollars each numbered from l to inclusive , as is required to meet the estimated cost of said improvements as herein provided, ani when said bonds shall have been duly prepared, they shall be retained by the City Treasurer to be issued and delivered from time to time as hereinbef ore provided. Section 8. Whenever considered prudent by the City Treasurer he is hereby authorized and empowered, whenever ±kinds may be in his hands to the credit of North College Avenue Improvement District No. 26, including six months ' interest on the unpaid principal, to advertise for five days in the official newspaper of said city, and call in a suitable number of bonds of skid district for payment, and at the expiration of -6- thirty days from the first publication, interest cn said bon-Is so called shall cease. The notice shall specify the bondis so called by number, and all bonds so issued shall be called and paid in their numerical order. Section 9. Upon the taking effect of this ordinance,, the Commissioner of Safety and Ex-Offiaio Mayor is hereby authorized and empowered to advertise for bids? foar the construction of said improvements in accordance with the map, plans and specifications heretofore adopted. which advertisement shall not be less than ten days in the official newspaper published in the City of Fort Collins, and all bids received under said advertisement shall be submitted to the City Council for approval or rejection, and no contract shall be awarded in excess of the City Engineer 's estimate of the cost of said improvements . After the contract is awarded for the construction the City Council shall require a bond for the :ftithful performance of the same of not less than the full contract price, with sufficient surety or sureties to be approved by the Commissioner of Safety and Ex-Officio Mayor, and the work of aonstruotion when so awarded under said contract shall be under the general control of the Commissioner of Public Works and in the immediate charge, control and supervision of the City Engineer, whose decision in all matters of dispute respecting com- plianoe with this ordinance , and the contract made thereunder , an(k the plans and specifications shall be final and binding upon all parties thereto. When said contract is awarded it shall contain a clause to the effect that it is suboect to the provisions of the charter and of the laws under which the City of Fort Collins exists and of this ordinance , and the provisions of Ordinance No. % 1921, relating to local public improvements, as amended by Orch-nance No, 9, 1926, and that the agreed payments shall not exceed the estimate of the City -7- Engineer and the amount appropriated, and that upon ten (10) days notice the work under said contract, without cost or claim against the City of Fort Collins , may be suspended for substantial cause and upon complaint of any owner of real estate to be assessed for the improvements, that the improvements are not being constructed in accordance with the contract, then the City Count it may consider the complaint and make such order as may be just , and its decision shall be final. When said contract is awarded it shall also contain a provision as to the manner of payment - whether the same shall be made in bonds of the said district to be accepted by the contractor at par, or whether payment shall be made to the contractor in money, all at the opticm of the City Council. The City Council shall have the right to reject any and all bids, which may be made by any person or persons for the eonstruetion of said improvements, and when in the judgment of the City Council it shall be deemed to the best interests of said City of Fort Collins, the said City Council is hereby authorized and empowered to provide for doing such work by hiring parties by the day and to arrange for purchasing the necessary materials to do such work under the direction, supervision and control of the Commissioner of Public works and the City Engineer acting for said city. Section 10. When the said public improvements in North College Avenue Improvement District No. 26 shall have been completed and the same approved by the City Engineer and recommended for acceptance by said officer, and duly accepted by the City Council of the City of Fort Collins, the cost thereof shall be assessed upon the lots or tracts off' land abutting upon said North College Avenue Improvement District No. 26 in proportion as the frontage of✓each lot or tract of land is to the frontage of all the lots or tracts of land so improved, which assessments when so reported by the City Engineer and approved by the City Council shall be assessed against the property in said improvement district by an ordinance to be adopted as provided by law, Section 11, In the event that the contractor shall be paid in bonds, then for the purpose of paying for engineering and other cl6rical -8-- expenses and the cost of inspection, upon the approval of the City Council, the Commissioner of Safety and Ex-Offieio Mayor is authorized to advertise for not less tnan ten days in the official newspaper of said city, and sell sufficient of said bonds to pay for the engineering and other clerical expense, including the cost of inspection, and in the event that the work is ordered to be done by the Commissioner of Public Works by day labor, may sell thb entire bond issue at not less than par , wh.Lch said bonds shall not bear interest to exceed four and three-quarters (4-3/4%) per cent per annum to be paidsomi-annually, evidenced by coupons bearing the fac simile signature of the City Clerk, all in accordance with Section 27 of Ordinance No. 7, 1921, as amended by Ordiname No. 9, 1926. Section 12, This ordinance shall be irrepealable unt i 1 the indebtedness herein provided for, whenever the same shall be created, shall have been duly paid, satisfied and discharged asfherein provided. Section 13, 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 upon its passage and publication, under and by virtue of the authority contained in Sections 6 and 7 of Article IV of the City Charter. Introduced, read at length and adopted by the unanimais vote of all the members of the City Count it this 23rd day of April, A. D. 1927* omm ssi ner of Saf 71an d�=-Offinfo Mayor ATTEST CiV er STATE OF COLORADO ) COUNTY OF LARIMER ) SS. I, A. J. ROSENOW, City Clerk of the City of Fort Collins, do hereby certify and declare that the foregoing ordinance consisting of thirteen (13) sections was duly proposed and read at length at a regular meeting of the City Council held on the 23rd day of April, A:�D.192% and was du]y adopted and ordered published lin the; Fort Collins Express-Courier, a daily newspaper and the offiaial newspaper of the City of Fort Collins by the unanimous vote of all the 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 of the City of Fort Collins and thereafter and on to-wit the ZS wday of April, A. D. 1927, said Ordinance No. __ z was duly published in the Fort Collins Express-Courier, a daily newspaper published in the City of Fort Collins, Colorado, IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said City, thia day of April, A. R. 1927. City Clerk. .10-