HomeMy WebLinkAbout1985-048-04/02/1985-APPROVING THE REPORT OF THE DIRECTOR OF PUBLIC WORKS ON THE ESTIMATES, COSTS, AND ASSESSMENTS FOR RO RESOLUTION 85- 48
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 ROSSBOROUGH SPECIAL IMPROVEMENT DISTRICT NO. 85 ,
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, heretofore the Council of the City of Fort Collins,
Colorado (the "Council" ) , began proceedings to establish the
Rossborough Special Improvement District No . 85 (the "District" )
by the acceptance of the Petition of Tri Trend, Inc. (the
"Petitioner" ) , and by the Resolution of the Council adopted on the
2d day of April , 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
2d day of April, 1985; and
WHEREAS, the Council has examined such preliminary plans ,
estimate of costs, maps and other documents, and has found and
does hereby find the same to be sufficient; 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:
Section 1. That the report, preliminary plans and specifica-
tions, map an3 estimate of the probable total cost as prepared by
the Director of Public works and heretofore filed with the City
Clerk and presented to the Council on this 2d day of April , 1985,
for the District, be and the same hereby are, accepted, approved ,
and adopted.
Section 2. That the improvements to be constructed in said
Districct shall be constructed in two phases and shall consist
generally of street, sanitary sewer, water, and storm drainage
improvements , the nature and location of said improvements being
more specifically described in Resolution 85- 47 and the
District Engineering Report on file with the City Clerk.
Section 3. That the following amount or proportion of the
total probab e cost of the District improvements shall be paid by
the City at large and not by assessments against property in the
District, to wit: the estimated amount of $58,680.00 representing
the cost of sanitary sewer and a portion of street oversizing in
Phase I of the District , and an additional estimated amount of
$17,464. 00 representing the cost of a portion of street oversizing
in Phase II of the District.
Section 4. That the estimated total cost of the street,
street'lig ng, water, sanitary sewer, and storm drainage
improvements in Phases 1 and 2 of the District, including without
limitation the cost of planning, engineering, constructing, or
otherwise acquiring the improvements (and excluding legal and
advertising costs , interest during construction , and until assess-
ments are made by ordinance against the properties benefited and
other costs to the District) as shown by the estimate of probable
total cost, as made by the Director of Public Works, is
$1 ,978,020.00. The estimated 'amount or proportion of the total
cost to be paid by other than special assessments is $76, 144.00.
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 ,901 ,876.00) upon the completion of the improvements
shall be apportioned in an assessment roll against each lot to be
assessed, which assessment roll shall include additional assess-
ments 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.
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Such assessment shall be a lien until paid in the several amounts
assessed against each lot. The cost of acquiring, constructing,
or otherwise installing the improvements in the District shall be
assessed against those lots owned by the Petitioner and in the
manner set forth in the Petition for the District on file with the
City Clerk. Each assessment shall be sufficient to cover the
portion of the total cost of the improvements to be defrayed by
special assessments .
Section 5. The entire unpaid principal of the assessment
against each lot within the District , toqether 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 lot, 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 lot shall continue to be a lien thereon.
Section 6. 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 to which interest rate shall not exceed
eighteen percent ( 18% ) per annum.
Section 7. That on the 2d day of April , 1985, and again on
the 16th day of April, 1985, at the hour of 6 : 30 p.m. or as soon
thereafter as the matter may b6 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 8. That the Petitioner in said District has waived
all notic—a 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 2nd day of April 1985.
mayor
ATTEST:
t►i
City Clerk -
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