HomeMy WebLinkAbout1985-212-11/05/1985-APPROVING THE REPORT OF THE DIRECTOR OF FINANCE FOR GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87 A RESOLUTION 85- 212
OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE REPORT OF
THE DIRECTOR OF PUBLIC WORKS ON THE ESTIMATES, COSTS, AND ASSESS-
MENTS FOR THE GREENBRIAR SPECIAL IMPROVEMENT DISTRICT NO. 87,
APPROVING THE DETAILS AND SPECIFICATIONS FOR SUCH PROPOSED
DISTRICT, DETERMINING THE AMOUNT OR PROPORTION OF THE TOTAL COST
TO BE PAID BY A METHOD OTHER THAN ASSESSMENT AGAINST PROPERTY IN
THE DISTRICT, THE NUMBER OF INSTALLMENTS, AND THE. TIME WITHIN
WHICH THE COST OF THE IMPROVEMENTS ASSESSED AGAINST THE PROPERTY
IN THE DISTRICT WILL BE PAYABLE, THE RATE OF INTEREST TO BE
CHARGED ON UNPAID INSTALLMENTS, THE PROPERTY TO BE ASSESSED FOR
THE IMPROVEMENTS, THE METHOD OF MAKING SUCH ASSESSMENTS, AND THE.
DATE WHEN THE COUNCIL WILL HOLD A HEARING AND CONSIDER THE
ORDERING BY ORDINANCE OF THE PROPOSED IMPROVEMENTS.
WHEREAS, the Council of the City of Fort Collins, Colorado
( the "Council" ) , has begun proceedings to establish the Greenbriar
Special Improvement District No . 87 (the "District" ) by the
acceptance of the Petition of the affected property owner in the
area, First Interstate Bank of Fort Collins, N.A. , the
( "Petitioner" ) , and by Resolution of the Council adopted on the
5th day of November, 1985, directing the Director of Public
Works to prepare and present to the Council a map of the District,
plans and specifications of the proposed District improvements ,
and estimate of probable total cost thereof; and
WHEREAS, the Director of Public works, pursuant to said
Resolution, has made his report and has presented the details and
specifications for the proposed District to the Council on the
5th day of November, 1985; and
WHEREAS, the Council has examined such report, estimate of
costs, maps and other documents, and does hereby approve and
accept the same; and
WHEREAS, the Petitioner has waived all notice requirements
and certain other procedural requirements pursuant to Chapter 16
of the Code.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE. CITY OF
FORT COLLINS:
oection 1 . That the report, plans and specifications , map
and estimate of the probable total cost as prepared by the
Director of Public Works, filed with the City Clerk, and presented
to the Council on this 5th day of November , 1985, for the
District, be and the same�F'iereby are, accepted , approved , and
adopted.
Section 2. That the improvements to be constructed in said
District shall consist generally of street, curb and gutter,
sidewalk, street lighting, water line, sanitary sewer line, storm
drainage, and landscaping improvements (the "Improvements" ) , said
Improvements being more specifically described in Resolution 85-211
and in the District Engineerinq Report on file with the City
Clerk.
Section 3. That the property to be assessed in the District,
is set ort on Exhibit "A" attached hereto and incorporated
herein by reference (the "Property" ) .
Section 4. That the method of assessment for the cost of the
Improvements shall be as set forth on Exhibit "B" attached hereto
and by this reference made a part hereof.
Section 5. That the estimated total cost of the Improvements
in th District , including, without limitation , the cost of
planning, engineering, constructing, or otherwise acquiring the
Improvements; ( and excludinq legal and advertising costs , interest
during construction, and until assessments are made by ordinance
against the properties benefited and other costs to the District)
as shown by the estimate of probable total cost, approved by the
Director of Public Works , is $1 ,673,828. The amount or proportion
of the estimated total cost to be paid by the City at large and
not by special assessments is $254,303. The foregoing shall
constitute the maximum obligation of the City, notwithstanding
that costs might exceed estimates heretofore submitted, unless
appropriation is made therefor.
The balance of the total cost in the District ( i .e. , esti-
mated at $1 ,419, 525 ) upon the satisfactory completion of the
Improvements shall be apportioned in an assessment roll aqainst
each -lot, tract , or parcel of land to be assessed in accordance
with Exhibit "B" attached hereto, which assessment roll shall
include additional assessments to cover the costs of legal and
advertising, interest during construction and until assessments
are made by ordinance against the properties benefited , and other
incidental costs of the District. Assessments shall be levied by
an assessing ordinance. Such assessments shall be a lien until
paid in the respective amounts assessed aqainst each lot , tract,
or parcel of land. The total of all aggregated assessments shall
be sufficient to cover the portion of the total cost of the
Improvements to be defrayed by special assessments.
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Section 6. After any such tract or parcel is divided into
smaller parcels or other property interests , the assessment
against such tract or parcel shall be reallocated , so that the
assessment against each such smaller parcel or other property
interest shall bear the same ratio to the original assessment
against such tract or parcel as the proportionate interest in such
smaller parcel or other property interest bears to the interest in
sellable land in such original tract or parcel as so divided into
smaller parcels or other property interests . The entire unpaid
principal of such assessment or reallocated assessment, as the
case may be, together with interest accruing thereon to the next
assessment interest payment date, except to the extent that
interest on the bonds to be issued by the City for the District
have been capitalized through such date, shall be immediately due
and payable by the seller or transferor thereof prior to the sale
or transfer of any such tract or parcel , or portion thereof, if
such tract or parcel shall have been divided as aforesaid , unless
the purchaser or transferee thereof shall acknowledge , in writing,
receipt of notice that the seller or transferor is not paying such
assessment or reallocated assessment in full prior to such sale or
transfer and that such assessment or reallocated assessment
against such tract or parcel , or portion thereof, as the case may
be, shall continue to be a lien thereon .
Section 7. Said assessments shall be payable in not more
than fifteen ( 15 ) equal annual installments with the interest on
the unpaid installments to be the same as the interest rate
payable on the bonds which interest rate shall not exceed
eighteen percent ( 18% ) per annum.
Section 8. That on the 5th day of November , 1985, at the
hour of 630 p.m, or as soon ti—ereafter as the matter may be heard
in the Council Chambers of the City Hall , City of Fort Collins ,
Colorado, the Council will consider the ordering by ordinance of
the proposed improvements and hear all complaints and objections
that may be made and filed in writing concerning the proposed
improvements by the owners of any real estate to be assessed and
any other interested persons.
Section 9. That the Petitioner in said District has waived
all notice requirements pursuant to Chapter 16 of the Code of the
City of Fort Collins .
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PASSED AND ADOPTED at a regular meeting of the Council of the
City of Fort Collins this 5th day yyof /�November, 1985.�,L�
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ATTEST:
City Clerk
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EXHIBIT "A"
LEGAL DESCRIPTION OF DISTRICT PROPERTY
All of the Replat of Greenbriar Subdivision , City of Fort
Collins, County of Larimer, State of Colorado, according to the
plat thereof recorded August 15, 1985 at Reception Number 85040230
in the records of the Larimer Countv, Colorado, Clerk and
Recorder's office , EXCEPTING Tract "A" thereof; and Tracts "0" and
"P" of the plat of Gre'enTriar Subdivision ( "Greenbriar" ) , City of
Fort Collins, County of Larimer, State of Colorado, according to
the plat thereof recorded April 2, 1979 in Book 1940 at Paae 283
in the records of the Larimer County, Colorado, Clerk and
Recorder's office; and also that part of Willox Lane right-of-way
dedicated on the Replat of Sandcreek Villaqe P.U.D. , City of Fort
Collins, Colorado and on the plat of Greenbriar from Bramblebush
Street to Redwood Street, according to the recorded plat thereof;
all of the above property being more particularly described as
follows :
A tract of land situate in the North 1/2 of the North-
east 1/4 of Section 1 , Township 7 North , Range 69 West
of the 6th P.M. , City of Fort Collins , County of Larimer,
State of Colorado which considering the North line of
the said Northeast 1/4 as bearing S 890 56 ' 14" E and
with all bearings contained herein relative thereto is
contained within the boundary lines which beqin at a
point on the East line of the said Northeast 1/4 which
bears S 000 04 ' 13" E 190.00 feet from the Northeast
corner of said Section 1 and runs thence S 00° 04 ' 13" E
1124.24 feet to the Southeast corner of the said North '
1/2; thence N 89° 50 ' 18" W 2599.75 feet along the South
line of said North 1/2 to the Southwest corner of Tract
"P" , Greenbriar Subdivision, City of Fort Collins , County
of Larimer, State of Colorado, thence N 00° 00 ' 23" W
1309 .75 feet to a point on the North line of the said
Northeast 1/4 ; thence S 89° 56 ' 14" E 99. 04 feet; thence
-along the Northeasterly line of Willox Lane along the
arc of a 355. 89 foot radius curve to the riqht a distance
of 308 .92 feet, the long chord of which bears S 510 27 ' 01"
E 299. 31 feet and again S 26° 35 ' E 413 . 56 feet; thence
along the arc of a 15.00 foot radius curve to the left a
distance of 23. 56 feet, the lonq chord of which bears
S 71° 35 ' E 21 . 21 feet; thence N 63' 25 ' E 46.85 feet;
thence along the arc of a 677. 21 foot radius curve to
the left a distance of 357. 54 feet, the long chord of
which bears N 48' 17 ' 30" E 353 .40 feet, thence along
the arc of a 430.00 foot radius curve to the right a
distance of 277.43 feet, the long chord of which bears
N 510 39 ' E 272.64 feet; thence N 16° 00 ' 40" W 142.28
feet to a point on the North line of the said Northeast
1/4 ; thence S 89° 56 ' 14" E 1284. 57 feet along the said
North line; thence S 470 26 ' 45" E 162.90 feet; thence
S 570 23 ' 50" E 148. 66 feet; thence S 890 56 ' 14" E 50. 00
feet to the point of beginning, excepting therefrom Tract
"A" of the Replat of Greenbriar Subdivision, City of Fort
Collins , County of Larimer, State of Colorado, according
to the recorded Plat thereof , and containing an area of
49 .0529 acres more or less.
EXHIBIT B
District costs , except those to be paid by the City at large ,
shall be allocated against the property in the District on a net
acreage basis determined as follows :
( 1 ) Parcel A
Legal Decription: The Replat of Greenbriar Subdivision, City
of Fort Collins, County of Larimer, State of Colorado.
Parcel A consists of a 17. 75 net acre tract of land zoned and
platted for single family residences and a 22 acre tract of land
dedicated to the City for development of a park site , for a com-
bined total acreage of 39. 75 net acres ( i .e. exclusive of dedi-
cated street riqhts-of-way and storm detention areas) or seventy-
four percent ( 74% ) of total District net acreaae. The residential
lots within the 17. 75 acre .single family residential area of
Parcel A shall be assessed seventy-four percent ( 74% ) of the total
assessable District cost so that the assessment aqainst each lot
assessed shall be equal to that assessment made against each other
lot within said single family area.
( 2 ) Parcel B
Legal Description : Tracts 0 & P of the Plat of Greenbriar
Subdivision, City of Fort Collins , County of Larimer, State
of Colorado.
Parcel B consists of approximately 13.88 net acres ( i .e .
exclusive of dedicated street rights-of-way) of property zoned as
Planned Residential equalling twenty-six percent ( 26% ) of total
District net acreage . The property located within Parcel B shall
be assessed twenty-six percent ( 26% ) of the total assessable
District cost so that the assessment against each square foot
assessed in Parcel B shall be equal to that assessed against each
other square foot in Parcel B.