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HomeMy WebLinkAbout005 - 04/09/1927 - RELATING TO THE CREATION OF WEST MOUNTAIN AVENUE IMPROVEMENT DISTRICT NO. 24 (EMERGENCY ORDINANCE) ORDINANCE NO. 6�9 1927, BEING All EMERGENCY ORD=CE RELATING TO THE CREATION OF WEST MOUNTAIN AVENUE IMPROVEMENT DISTRICT NO, 24, PROVIDING FOR THE CONSTRUCTION OF IMPROVEMENTS THEREIN, AND AUTT-DRIZING THE ISSUANCE OF BONDS TO-PAY THE COST OF CONSTRUCTION THEREOF. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF-FORT COLLINS Section 1. That pursuant to a petition duly filed and presented to the City Council on the 3rd day of July, A. D. 19269 which said petition was duly and regularly signed by the owners of more than one-third of the frontage in the proposed distret, as evidenced by a resolution of the City Council duly passed and adopted on the 3rd day of July, A. D. 1926, 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 Ordinance No, 9, 1926, to be known as West Mountain Avenue Improvement District No. 24, aomprising all the property fronting on said West Mountain Avenue, or abutting thereon, from the end of the present paving on the North side of West Mountain Avenue to the City limits at Larimer County Canal No. 2, in the City of Fort Collins, Colorado, Section 2. That the said petition prayed for the improvement of said district by grading, paving, guttering, curbing and drainage where neoessary, paving to consist of reinforced concrete paving, which said petition was made and filed under the provisions of Ordina.noe No, 7, 1921, as amended by Ordinance No, 9, 1926, and that the plans and specif iaations, together vdth 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 constraotion of said improvements is hereby ordered to be done in Gaoeordanoe -1- therewith, as provided by law, together with the estimated oost of the construction of said improvements amounting to $15,497.76 for the paving, the cost per front foot is estimated at $13.875, inter- section rate is $0,647 and the cost of a lot 50 feet by 190 feet is $726,139 the total estimated cost for drainage is $19520.24, the rate per square foot for drainage is,-$0.018 and the cost of a lot 50 feet by 190 feet is $173,76 and the total estimated cost of the district complete $17,018.000 and which amount of $17,018,00 includes the cost to be assessed against the property owners for the improvement of the said district, and all to be assessed against the owners of lots and lands in said district abutting upon said improvements, when completed and aoceptad, in accordance with the provisions of Seeticns 7 and 8 of Ordinance No. 7, 1921, as amended by Ordinance No, 9, 1926. Section 3. That pursuant to the requirements of the resolution of the City Council du],y adopted on the 26th day of February, A. D. 1927, due notice was given to the owners of property to be assessed, by due and lawfal publication 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 noticze 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 with the probable cost per front foot and per dquare foot , as shown by the estimate: of the City Engineer , and to the farther effect that on the 9th 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 complaints and objections that might be made and filed in writing concerning the proposed improvements by the ow er 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 9th day of April, A. D. 1927, and that no complaints in writing concerning the proposed improvements had then and there been filed with the City Clerk. Section 4. The City Council finds that all the requirements of the statute respeetirg the petiticn for said improvements and the resolutions ail notices required by law to be given in respect thereto before the adoption cf an ordinance ordering said improvements have been obserxed~and complied with in all respects,,�and it is hereby ordered that the improvement of West Mountain Avenue Improvement District No. 24 as provided for in the map, plans and speeificsations heretofore adopted by the City Council, and approved in this ordinance, be and is hereby cr dered 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-Offieio Treasurer of they City of Fort Collins , which said bonds shall bear date ab such times as may be fixed by the City Treasurer after the work of improvement has been commamed in said district, but said date shall be uniform for all bonds issued, and in such form as may be approved by the City Council after submission by the Commissioner of Finance, said bonds shall bear the name of West Mountain Avenue Improvement District No. 24 of the City of Fort Collins , and shall be payable in twenty (20) annual installments, five (5%) per cent thereon payable in each and every year 8br3.rg said period, and shall bear and three-fourths interest at the rate of four,(44%)per sent 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 City Clerk, which said bonds shall be in denominations of f, ✓e A 00 Hundred ($�_�) Dollars each. Each of said bonds shall be subscribed by the Commissioner of Safety and Ex-Offieio Mayor, countersigned by the Commissioner of Finance and Ex-Offielo City Treasurer, and attested by the City Clerk with the corporate seal of the 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 West Mountain Avenue Improvement District No. 24, and the funds so collected shall only be used for the payment of the work of acnstraction of said improvements and the interest thereon. Said bonds shall be numbered from 1 to inclusive, and shall be redeemable cnnsecutively, 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 Coftissioner cf Safety and Ex-Offioio Mayor, 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 of issue, but shall be subject to call arxt payment at any time prior thereto, as provided in Section 27 of Ordirame 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: UNITED STATES OF AMERICA STATE OF COLORADO CITY OF FORT COLLINS WEST MOUNTAIN AVENUE IMPROVEMENT DISTRICT NO, 24 No, The City of Fort Collins' 3 he County of Larimer, and State of Colorado, for value received, acknowledges itself indebted and .4- hereby promises to pay to the bearer hereof the sum of Dollars in lawful money of the United States, at the office of WF=y Treasurer of said City, on the day of , 19 , subject to (tall and paymeme-lff; however, at any time prior thereT6, as provided in the amendment of Seetinn 1 of Article XVII of the City Charter, passed and adopted April 6, 1920, and Ordinance No. 7, 1921, relating to local public improvements, as amended by Ordinance �T�.+ ��1�9��6 ith interest thereon from date until payment at the rake of"ft�Y laffier cent per annum, payable semi-annually, on the day off- 4 , 19 , and the day of , 19 at he office of the i y-- Treasurer of the City of Fort Cons, 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 the looal improvement in West Mountain Avenue Improvement District No. 24, by virtue of and in full conformity with the amendment to Section l./of Article XVII of the City Charter, passed and adopted April 6, 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 special assessments to be levied upon the real property situate in the City of Fort Collins in said West Mountain Avenue Improvement District No. 24, especially benefitted 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 , said lien having priority over all other liens, except other bonds heretofore issued by said City, and the lien of gene-Lal 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 Engineer, 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 West Mountain Avenue: Improvement District No. 24, the making of said local improvement and the issuance of this bos3., has been fully complied with by the proper officers of said cityl 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, In Testimony Whereof, The said City of Fort Collins has caused this bond to be subderibed by its Commissioner of Safety and Ex-Offieio Mayor, countersigned by its Commissioner of Finance and Ex-Offie io City Treasurer, and attested by its City Clerk under the seal of said city, and the interest coupons thereto attached to be attested by the fac simile signatume of the City Clerk as of the day of , 192 Commissioner of a e y and Ex-Offieio Mayor Countersigned. Commissioner of Finance and M-c-Officio City Treasurer* ATTEST. city Clerk, -5- (Form of Compon) No. On the day of , 192 , the 0ity of Fort Coll-ins wild pay to the bearer Dollars in lawful money of the United States at the office of the y Treasurer of Fort Collins, Colorado, being six months ' interest on its local improvement bond dated , 192 , issued for the construction of the looaJL improvemen ovin as at Mountain Avenue Improvement District No. 24, provided this bond shall not have been heretofor a paid. Attached to Bond No, City Clerk, Section 7, The Commissioner of Finance and Ex-Offioio Treasurer is hereby authorized and directed to have printed a sufficient �- • o0 number of bonds of the denomination of /-,� Hundred ( Nt oo ) Dollars each numbered from l to .5- inclusive, as is required to meet the estimated cost of said improvements as herein provided, and 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 hereinbefore provided. Section 8. Whenever considered prudent by the City Treasurer he is hereby authorized and empowered, whenever fends may be in his hands to the credit of West Mountain Avenue- Improvement District No. 24, including sax 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 said district for payment,, and at the expiration of thirty 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 as issued shall be stalled and paid in their numerical order. Section 9. Upon the taking effect of this ordinance, the Commissioner of Safety and Ex-Officio 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 not be less than ten -6- 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 ftLithful 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- Offioro Mayor, and the work of oonstruotion 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 supervisicn of the City/Engineer , whose decision in all matters of dispute respecting aompliancre with this ordinance, and the contract made thereunder, and the plans and specifications shall be final and binding upon all parties thereto. When said enntraet is awarded it shall contain a clause to the effect that it is subj eat to the pro- visions 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. 7, 1921, relating to local public improvements, as amended by Ordiname No. 9, 1926; and that the agreed payments shrill not exceed the estimate of the City Engineer and the amount appropriated, and that upon ten (10) days not lee the work under scald oo ntraet, without cost or claim against the City of Fort Collins, may be suspended for subst ant ial cause and upon complaint of any owner of real esta 6e to be assessed for the improvements, that the iTnp roveme nta are not being oonstrmoted in accordance with the contract, then the City Council may consider the complaint and make such order as mRLy 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 daid district to be accepted by the contractor at par, or vdiether payment shall be made to the contractor in money , all at the option of the City Council. -7— The City Council shall have the right to reject any and all bids which may be made by any person or persons for the construction 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 oity. Section 10. When the said public improvements in Test Mountains Avenue Improvement District No. 24 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 of land abutting upon said West Mountain Avenue Improvement District No. 24 in proportion as the frontage and area: of each lot or tract of land is to the frontage and area 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 ord.inarae 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 clerical expenses and the cost of inspection, upon the approval of the City Council, the Commissioner of Safety and Ex-Offioio Mayor is authorized to advertise for not less than 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 the .8- entire bond issue at not less than par , which said bonds shall not bear and thr e-fourths interest to exceed four/ (44%) per cent per annum to be paid aemi-anm,ally, avidenoed by coupons bearing the fac simile signature of the City Clerk, all in accordance with Section 27 of Ordimnoe No. 7, 1921 , as amended by Ordinance No, 9, 1926, Section 12. 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. 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 adoptdd by the unanimous vote of all the members of the City Council this 9th day of April, A. D. 1927, ommis toner o e n - cio or ATTEST. City Clerk. -9- STATE OF COLORADO ) SS. COUNTY OF LARIMER ) I, A. J. ROSENOW, City Clerk of the City of Fort Collins , do hereby certify and declare that tba 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 9th day of April, A. D. 1927, and was duly adopted 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 the members of the City Conncil, 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 /.2 day of April, 1927, said Ordinance No. S was duly published in the Fort Collins Express-Courier, a daily hewspaper published in the City of Fort Collins, Colorado , IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said City this day of April, A. D. 1927. Clerk, -10-