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HomeMy WebLinkAbout1995-019-02/07/1995-CITIZEN INITIATED ORDINANCE FOSSIL CREEK COMMUNITY PARK PARKS AND ICE ARENA REGULAR CITY ELECTION SA RESOLUTION 95-19 OF THE COUNCIL OF THE CITY OF FORT COLLINS SUBMITTING A CITIZEN INITIATED ORDINANCE TO A VOTE OF THE REGISTERED ELECTORS OF THE CITY AT THE REGULAR CITY ELECTION OF APRIL 4, 1995 WHEREAS, under Article X, Section 1 of the Charter of the City of Fort Collins, the registered electors of the city have the power to propose a measure to the Council, and, if the Council fails to adopt a measure so proposed, to adopt or reject such ordinance or resolution at the polls; and WHEREAS, an initiative petition pertaining to a Citizen Initiated Ordinance (the "Citizen- Initiated Ordinance")for an increase in the City's sales and use tax and the issuance of sales and use tax revenue bonds for the purposes of developing the Southwest Community Fark%Youth Sports Complex and Fossil Creek Community Park, constructing an ice arena and covered activities center and acquiring water rights necessary for such purposes, has been filed with the City Clerk(the "City Clerk") of the City; and WHEREAS, the City Clerk has presented said petition to the City Council as provided in Article X, Section 4(g)(4) of the City Charter; and WHEREAS, under Article X, Section 1(c) of the City Charter, upon presentation of an initiative petition certified as to sufficiency by the City Clerk, the Council shall either adopt the Citizen Initiated Ordinance without alteration within thirty (30) days or refer said Citizen Initiated Ordinance in the form petitioned for, to the registered electors of the city at a municipal election; and WHEREAS, under Article X, Section 20 of the Colorado Constitution, ballot issues increasing taxes or authorizing the issuance of debt must be referred to the electorate, and the Council does not have the option to adopt the measure in lieu of submitting it to the ballot; and WHEREAS, the City Council desires to refer-said-Citizen-initiated-Ordinance to-a vote-of the registered electors of the City at the next regular election; and WHEREAS, a regular municipal election is scheduled to be held on Tuesday, April 4, 1995. NOW, THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS: Section 1. That there is hereby submitted to the registered electors of the City of Fort Collins at the Regular Municipal Election to be held in the several precincts of the City on Tuesday, April 4, 1995, the Citizen Initiated Ordinance set out as follows: CITIZEN INITIATED ORDINANCE NO. 1, 1995 PARKS AND ICE ARENA AN ORDINANCE AUTHORIZING AN INCREASE IN CITY OF FORT COLLINS DEBT BY $30,775,000 WITH A REPAYMENT COST OF UP TO $73,694,200 (SUCH AMOUNT BEING THE TOTAL PRINCIPAL AND INTEREST THAT COULD BE PAYABLE OVER THE MAXIMUM LIFE OF SAID DEBT) BY THE ISSUANCE OF REVENUE BONDS IN A PRINCIPAL AMOUNT OF $30,775,000, AT A NET EFFECTIVE INTEREST RATE NOT TO EXCEED 8.0 PERCENT PER ANNUM AND WITH A MATURITY DATE NOT TO EXCEED 25 YEARS FROM THE DATE OF ISSUANCE, FOR THE PURPOSES OF: 1)THE DEVELOPMENT, EMPHASIZING YOUTH SPORTS, OF THE SOUTHWEST COMMUNITY PARK/YOUTH SPORTS COMPLEX AS REFERRED TO IN ORDINANCE NO. 9,1989 [INCLUDING THE FOLLOWING FEATURES IN ADDITION TO ANY OTHER APPROPRIATE IWROVEMENTSDEEMED-NECESSARY BY THE CITY COUNCIL: BIKE TRAIL; GROUP PICNIC AND PLAY AREA, POND; 8 FULL-SIZED- SOCCER FIELDS ` ITTH 2 BEING LIGHTED; 6 FULL-SIZED BASEBALL FIELDS WITH 4 BEING LIGHTED; 4 BASKETBALL COURTS WITH 2 BEING LIGHTED; 4 LIGHTED TENNIS COURTS; STORAGE AND MAINTENANCE BUILDINGS; PARKING], THE DEVELOPMENT OF FOSSIL CREEK COMMUNITY PARK, [INCLUDING THE FOLLOWING FEATURES IN ADDITION TO ANY OTHER APPROPRIATE IMPROVEMENTS DEEMED NECESSARY BY THE CITY COUNCIL: GROUP PICNIC AND PLAY AREA; POND; 2 LIGHTED FULL-SIZED SOCCER FIELDS; 2 LIGHTED FULL-SIZED BASEBALL FIELDS;BETWEEN 2 AND 4 LIGHTED BASKETBALL COURTS; BETWEEN 2 AND 4 LIGHTED TENNIS COURTS; STORAGE AND MAINTENANCE BUILDINGS;PARKING], AND THE CONSTRUCTION OF A SECOND ICE ARENA ADJACENT TO THE EXISTING EDORA POOL AND ICE CENTER [INCLUDING THE FOLLOWING FEATURES IN ADDITION TO ANY OTHER APPROPRIATE IMPROVEMENTS DEEMED NECESSARY BY THE CITY COUNCIL: OLYMPIC-SIZED HOCKEY/FIGURE SKATING ARENA SEATING NOT FEWER THAN 5,000 SPECTATORS; LOCKER AND DRESSING FACILITIES;ADEQUATE LOBBY AND MAINTENANCE AREA; CONCESSION AREA; PARKING] AND OF A COVERED FACILITY HOUSING BASKETBALL COURTS AND VOLLEYBALL COURTS AS WELL AS INDOOR SPORTS PRACTICE AREA, ALL-PURPOSE ROOMS, AND RELATED FEATURES, SUCH COVERED FACILITY TO BE LOCATED AT THE. DISCRETION OF THE CITY COUNCIL IN THE SOUTHWEST COMMUNITY PARK/YOUTH SPORTS COMPLEX, IN FOSSIL CREEK COMMUNITY PARK, OR ADJACENT TO THE SECOND ICE ARENA; AND (2) THE PURCHASE OF ANY WATER RIGHTS NECESSARY OR DESIRABLE TO MAINTAIN OR ENHANCE THESE AREAS OR TO SERVE THE IMPROVEMENTS FINANCED BY THE BONDS; SUCH BONDS TO BE ISSUED, DATED AND SOLD AT SUCH TIME OR TIMES AND IN SUCH MANNER AND TO CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE CITY COUNCIL MAY DETERMINE, WHICH AUTHORIZATION SHALL INCLUDE AUTHORIZATION TO REFUND SUCH BONDS AND REFUNDING BONDS WITHOUT ADDITIONAL VOTER APPROVAL; IN CONNECTION THEREWITH AUTHORIZING THE DEBT TO BE PAID AND RETIRED AND SUCH FACILITIES TO BE MANAGED AND MAINTAINED BY INCREASING THE CITY OF FORT COLLINS SALES AND USE TAX BY ONE QUARTER PERCENT FOR A 25 YEAR PERIOD FROM JULY 1, 1995 TO AND THROUGH JUNE 30, 2020, ON ALL ITEMS EXCEPT FOOD; IN CONNECTION THEREWITH AUTHORIZING THE PROCEEDS OF SUCH BONDS AND REFUNDING BONDS AND THE REVENUES FROM SUCH TAXES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES TO BE COLLECTED AND FULLY EXPENDED FOR SUCH PURPOSES, NOTWITHSTANDING ANY LIMITATION OR CONDITION CONTAINED IN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW, AND WITHOUT LIMITING THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS BY THE CITY OF FORT COLLINS UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW; VESTING THE RESPONSIBILITIES FOR COLLECTION, MANAGEMENT, INVESTMENT AND EXPENDITURE OF THE BOND PROCEEDS AND TAX REVENUES IN THE CITY COUNCIL AND SUCH DEPARTMENTS OF THE CITY AS THE COUNCIL DESIGNATES. WHEREAS, support of the citizens of Fort Collins exists for development of the Southwest Community Park/Youth Sports Complex and the Fossil Creek Community Park, and for the construction of a second ice arena and covered activities center; and WHEREAS, the need exists in the City of Fort Collins for said parks and facilities; and WHEREAS, the City of Fort Collins has developed a Parks and Recreation Master Plan, and the said facilities are in furtherance of The Plan; and WHEREAS, said facilities and improvements will provide the City's citizens, particularly its youth, enhanced opportunities to participate safely in constructive and healthy activities; and WHEREAS, the high standard of living and continued economic prosperity of the City depend on providing adequate parks and recreational facilities for public benefit; and WHEREAS, the said facilities and improvements are resources which benefit all members of the Fort Collins community; and WHEREAS, the Council of the City of Fort Collins is authorized to enact ordinances for the increase of the City's bonded indebtedness and for the levy and collection of additional sales and use taxes to retire such indebtedness and to manage and maintain the facilities financed thereby, pursuant inter alia to Article V of the Charter of the City of Fort Collins, and Chapter 25, Article III, Sections 25-71 - 25-240, inclusive, of the Code of the City, and has done so in the past; and WHEREAS, the improvement and construction of said facilities and the management and maintenance thereof can appropriately be funded by increasing the City's bonded indebtedness by $30,775,000, to be paid and retired by increasing the City sales and use tax by one quarter percent on all items, except food, for a 25 year period, from July 1, 1995 to and through June 30, 2020. NOW, THEREFORE, BE IT ORDAINED AS FOLLOWS: Section 1. City of Fort Collins debt shall be increased by $30,775,000 with a repayment cost of up to $73,694,200 (such amount being the total principal and interest that could be payable over the maximum life of said debt) by the issuance and payment of revenue bonds in a principal amount $30,775,000, at a net effective interest rate not to exceed 8.0 percent per annum and with a maturity date not to exceed 25 years from the date of issuance. Such bonds shall be issued, dated and sold at such time or times and in such manner and to contain such terms, not inconsistent herewith, as the City Council may determine, which authorization shall include authorization to refund such bonds and refunding bonds without additional voter approval. Section 2. In connection with the afore-described increase in the City of Fort Collins debt,the Fort Collins sales and use tax shall be increased by one quarter percent on all items, except food, for a 25 year period from July 1, 1995 to and through June 30, 2020. Such increase in sales and use tax is anticipated to result in additional revenue of between $3,000,000 and $9,500,000 per annum during the period of its collection, and shall be in addition to and distinct from all other sales and use taxes levied and collected pursuant to the Code of the City of Fort Collins. The tax revenues shall be used to pay and retire the afore-described increase in the City's debt incurred through the bond issue and to manage and maintain the facilities financed thereby. In order to ensure lasting availability of monies for management and maintenance of the facilities financed by the bonds, the City Council shall establish a separate trust fund for that purpose and shall do all that may be prudent and reasonable to ensure that as great an amount of the tax revenues as possible is deposited as nonexpendable principal into the trust fund as soon as possible each year during the period in which the tax is levied; the fund principal shall be appropriately invested, with the income thus derived to be used for management and maintenance of the parks and facilities developed and constructed under this Ordinance. Section 3. The proceeds realized by this bond issue shall be used specifically for the development of the Southwest Community Park/Youth Sports Complex as referred to in Ordinance 9,1989 on the approximate 103 acre parcel of land purchased by the City in January, 1994 for that purpose [including the following features in addition to any other appropriate improvements deemed necessary by the City Council: bike trail; group picnic and play area; pond; 8 full-sized soccer fields with 2 being lighted; 6 full-sized baseball fields with 4 being lighted; 4 basketball courts with 2 being lighted; 4 lighted tennis courts; storage and maintenance buildings; parking], the development of Fossil Creek Community Park on the approximate 100 acre parcel of land purchased by the City in February, 1982- for that purposes [including-the following- features in addition-to any other appropriate improvements deemed necessary by the City Council: group picnic dn&play area; pond; 2 lighted full-sized soccer fields; 2 lighted full-sized baseball fields; between 2 and 4 lighted tennis courts;between 2 and 4 lighted basketball courts; storage and maintenance buildings; parking], and the construction ofa-second ice arena adjacent to the existing-Edora-Pool-and-ice Center[including the following features in addition to any other appropriate improvements deemed necessary by the City Council: Olympic-sized hockey/figure skating arena seating not fewer than 5,000 spectators; locker and dressing facilities; adequate lobby and maintenance area; concession area; parking] and a covered facility housing basketball courts and volleyball courts as well as indoor sports practice areas, all-purpose rooms, and related features, such covered facility to be located at the discretion of the City Council in the Southwest Community Park/Youth Sports Complex, in Fossil Creek Community Park, or adjacent to the second ice arena. A portion of the bond proceeds shall be retained and used to purchase any water rights necessary or desirable to maintain or enhance these areas or to serve improvements installed in such areas. A portion of the bond proceeds shall be retained and used to pay for all costs associated with the bond issue. The City Council is hereby authorized to expend the bond proceeds and tax revenues in the ways provided herein. Section 4. Because of the previous voter approval of the Youth Sports Complex component for the Southwest Community Park, there shall be an emphasis on youth sports in the programming and scheduling of the facilities in said park once it is developed. The approximate 70 acres of land adjacent to the Southwest Community Park on its west side which was purchased concurrent with the park site shall remain natural open space and not be part of the park's development, and the City in its design of the park shall, wherever feasible, seek to prevent undue disturbance of the natural open space area caused by the park. The City shall endeavor to locate primarily Passive Uses (as that term is used in the current Fort Collins Park and Recreation Master Plan), in addition to necessary parking areas and streets, in the northwest portion of the Southwest Community Park north and west of the line of treesin the Spring Creek drainage�vay. The City- shall also endeavor to locate lighted baseball fields and lighted soccer fields in such a way as will minimize glare and intrusive disturbance from field light as it may affect neighborhoods near the Southwest Community Park/Youth Sports Complex and Fossil Creek Community Park, and all field lighting in such areas shall be of the high technology, "directional" type. Section 5. The bonds shall be issued without delay after April 4, 1995. In order to avoid any potential increases in cost due to delay, the development of the Southwest Community Park/Youth Sports Complex and of the Fossil Creek Community Park, and the construction of the ice arena and the covered activities facility, shall commence as soon as funds become available and shall be prosecuted diligently until completion. Section 6. The proceeds and revenues accrued shall be maintained in separate funds and shall be used specifically for the purposes set forth in Sections 2 and 3 of this document. The responsibility for collection, management, investment and expenditure of all funds shall be vested in the City Council and such departments of the City as the Council designates. The City Council is authorized to enact such further legislation and to enter into such agreements as are necessary or desirable to carry out the purposes of this Ordinance. Section 7. The proceeds of these bonds and refunding bonds and the revenues from these taxes, and any earnings from the investment of such proceeds and revenues, may be collected and fully expended for the purposes specified herein, notwithstanding any limitation or condition contained in Article X, Section 20 of the Colorado Constitution or any other law, and without limiting the collection or spending of-any other revenues or funds by the City ot-Fort Collins under Article X, Section 20 of the Colorado Constitution or any other law. Section S. The City of Fort Collins shall pay all costs associated with the April 4, 1995 election on this citizen initiative. The City Clerk shall comply with all requirements under applicable law relating to conduct of the election, including without limitation providing any required notices and ballot issue summaries. Section 2. The ballot title for the question concerning the debt and tax increases proposed in the Citizen-Initiated Ordinance shall appear as follows: --------------------------------------------------------------------------- CITIZEN INITIATED ORDINANCE NO. 1, 1995 PARKS AND ICE ARENA SHALL CITY OF FORT COLLINS DEBT BE INCREASED BY THE PRINCIPAL AMOUNT OF NOT MORE THAN$30,775,000,WITH A REPAYMENT COST OF UP TO $73,694,200, TOTAL PRINCIPAL AND INTEREST, BY THE ISSUANCE OF REVENUE BONDS PAYABLE SOLELY FROM THE SALES AND USE TAX DESCRIBED BELOW AT A NET EFFECTIVE INTEREST RATE NOT TO EXCEED 8.0% PER ANNUM AND WITH A MATURITY DATE NOT TO EXCEED 25 YEARS FROM THE DATE OF ISSUANCE, CALLABLE FOR REDEMPTION WITH OR WITHOUT A PREMIUM, AS MAY BE DETERMINED BY THE CITY COUNCIL, FOR THE PURPOSE OF FINANCING AND/OR REFINANCING THE DEVELOPMENT OF THE SOUTHWEST COMMUNITY PARK/YOUTH SPORTS COMPLEX, THE DEVELOPMENT OF FOSSIL CREEK COMMUNITY PARK; THE CONSTRUCTION OF A SECOND ICE ARENA AND A COVERED ACTIVITIES CENTER, AND THE ACQUISITION OF WATER RIGHTS TO MAINTAIN OR ENHANCE THESE AREAS; AND IN CONNECTION WITH THE BOND ISSUE SHALL CITY OF FORT COLLINS TAXES BE INCREASED BY $4,000,000 IN THE FIRST FULL FISCAL YEAR AND BY SUCH ADDITIONAL AMOUNTS AS MAY BE GENERATED ANNUALLY THEREAFTER.FROM A SALES AND USE TAX OF ONE QUARTER OF ONE PERCENT (0.25%) FOR A 25-YEAR PERIOD BEGINNING JULY 1, 1995 AND ENDING JUNE 30, 2020, ON ALL ITEMS EXCEPT FOOD, TO BE USED TO PAY AND RETIRE THE BONDS AND TO MANAGE AND MAINTAIN THE FACILITIES FINANCED BY THE BONDS; AND SHALL THE CITY OF FORT COLLINS BE AUTHORIZED TO COLLECT AND SPEND THESE BOND PROCEEDS AND TAX REVENUES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES FOR THE PURPOSES DESCRIBED ABOVE WITHOUT LIMITING THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS OF THE CITY OF FORT COLLINS, NOTWITHSTANDING ANY LIMITATION OR CONDITION CONTAINED IN ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW, ALL AS PROVIDED IN CITIZEN INITIATED ORDINANCE NO. 1, 1995? FOR THE ORDINANCE AGAINST THE ORDINANCE ---------------------------------------------------------------------------- Section 3. That City Clerk shall cause a ballot issue notice to be mailed to the registered electors of the City as prescribed by Article X, Section 20 of the Colorado Constitution and by Part 9 of Article 7 of Title 1, Colorado Revised Statutes, as amended. Section 4. If any section, subsection, paragraph, clause or other provision of this Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability thereof shall not affect any of the remaining sections, subsections, paragraphs, clauses or provisions of this Resolution. Passed and adopted at a regular meeting of the Council of the City of Fort Collins this 7th day of February, A.D. 1995. ayor ATTEST: City Clerk