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HomeMy WebLinkAbout2001-071-05/15/2001-APPROVING THE PRELIMINARY REPORT, ETC. FOR HARMONY HALF ACRES SPECIAL IMPROVEMENT DISTRICT NO. 92 RESOLUTION 2001-71 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE PRELIMINARY REPORT OF THE DIRECTOR OF COMMUNITY PLANNING AND ENVIRONMENTAL SERVICES FOR HARMONY HALF ACRES SPECIAL IMPROVEMENT DISTRICT NO. 92, DETERMINING THE NUMBER OF ANNUAL INSTALLMENTS,THE INTEREST RATE TO BE CHARGED ON UNPAID INSTALLMENTS, THE PROPERTY TO BE ASSESSED FOR THE IMPROVEMENTS, THE ASSESSMENT METHOD AND THE DATE WHEN THE COUNCIL WILL HOLD A HEARING AND CONSIDER THE ORDERING BY ORDINANCE OF THE PROPOSED IMPROVEMENTS WHEREAS, Chapter 22, Article III of the City Code empowers the City of Fort Collins, Colorado (the "City") to establish special improvement districts, and sets forth procedures and requirements for forming and organizing special improvement districts and providing for the improvements to be constructed thereby and for the assessment of costs associated with those improvements; and WHEREAS,heretofore the City Council(the"Council")of the City began proceedings to establish Harmony Half Acres Special Improvement District No. 92 (the 'District") by the acceptance of the Petitions of affected property owners in the area (the 'Petitioners") through its adoption of Resolution 2000-14,on February 6,2001, which directed the Director of Community Planning and Environmental Services to prepare and present to the Council preliminary plans and specifications for the proposed District improvements, an estimate of the probable total cost of those improvements, and a map of the District; and WHEREAS, the Director of Community Planning and Environmental Services,pursuant to Resolution 2001-14,has made his report and has presented the details and specifications for the proposed District to the Council on the 15th day of May, 2001 (the "Report"); and WHEREAS, the Council has examined such plans, estimate of costs, maps and other documents, and has found and does hereby find the same to be sufficient; and WHEREAS, the Council desires to proceed with the process for the formation of the District. NOW,THEREFORE,BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That the Report, including the plans and specifications, map and estimate of the probable total cost as prepared by the Director of Community Planning and Environmental Services and heretofore filed with the City Clerk and presented to the Council on this 15th day of May, 2001, for the District, are hereby accepted, approved, and adopted. Section 2. That the nature and location of the District improvements (the "Improvements")to be assessed against property in the District shall be as set forth in the Petitions, Resolution No. 2001-14, and the Report. Section 3. That the estimated total cost of the Improvements in the District, including without limitation the cost of acquiring,planning,engineering,and constructing the Improvements (but excluding legal and advertising costs, interest during construction and until assessments are made by ordinance against the properties benefitted,financing costs, and other incidental costs to the District), as shown by the estimate of probable total cost,made by the Director of Community Planning and Environmental Services,is One Hundred Sixty-Five Thousand Five Hundred Ninety- Three Dollars ($165,593). Section 4. That the property to be assessed in the District(the"Property")shall include the following: All of the property located within the plat of Harmony Half Acres, a plat of record with the Clerk and Recorder of Larimer County, located in the Southeast Quarter of Section 31,Township 7 North,Range 68 West of the Sixth Principal Meridian, City of Fort Collins, Larimer County, Colorado, excluding Lot 20 and Lot 21. Section 5. That the total actual cost to the District, upon the completion of the Improvements, shall be apportioned in an assessment roll against each lot, tract, or parcel of land to be assessed, which assessment roll shall include the cost of the Improvements together with additional assessments for legal and advertising costs, interest during construction and until assessments are made by ordinance against the properties benefitted, financing costs, and other incidental costs to the District. Assessments shall be levied by an assessing ordinance. Such assessments shall be a lien until paid in the several amounts assessed against each lot, tract or parcel of land. The cost of the Improvements, together with all costs incurred in formation and financing of the District, shall be assessed in equal amounts against all lots, tracts or parcels of lands in the District,irrespective of the size of each such lot,tract or parcel,or the amount of street footage adjacent to the same. The total of all aggregated assessments shall be sufficient to cover the portion of the total costs of the District to be defrayed by such special assessments. Section 6. If any such lot, tract or parcel is divided into smaller parcels or other property interests, the assessment against such lot, 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 lot, tract or parcel as the size of such smaller parcel or other property interest bears to the original size of the lot, tract or parcel. 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 lot, tract or parcel, or portion thereof, if such lot, 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 lot, 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 twelve percent (12%) per annum. Section 8. That on the 19th day of June, 2001, at the hour of 6:00 p.m. or as soon thereafter as the matter may be heard in the Council Chambers of the City Hall of the City of Fort Collins at 300 LaPorte Avenue in 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. Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 15th day of May, A.D. 2001. Mayor ATTEST: City Clerk