Loading...
HomeMy WebLinkAbout1984-136-09/04/1984-APPROVING THE PRELIMINARY ENGINEERING REPORT OF THE DIRECTOR OF PUBLIC WORKS FOR THE HEART SPECIAL I RESOLUTION 84- 136 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROVING THE PRELIMINARY ENGINEERING REPORT OF THE DIRECTOR OF PUBLIC WORKS FOR THE HEART SPECIAL IMPROVEMENT DISTRICT NO. 84, DETERMINING THE ESTIMATED AMOUNT OR PROPORTION OF THE TOTAL COST TO BE PAID BY A METHOD OTHER THAN ASSESSMENT AGAINST DISTRICT PROPERTY, THE NUMBER OF ANNUAL INSTALLMENTS, THE INTEREST RATE TO BE CHARGED ON UNPAID INSTALL- MENTS, THE PROPERTY TO BE ASSESSED FOR THE IMPROVEMENT, THE ASSESS- MENT METHOD, 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 Heart Special Improvement District No. 84 ( the "District" ) by the acceptance of the Petition of the affected property owners in the area ( the "Peti- tioners" ) and by the Resolution of the Council adopted on the 4th day of September , 1984, directing the Director of Public Works to prepare and present to the Council a map of the District, preliminary plans and specifications of the proposed District im- provements, and an estimate of the probable total cost thereof ; and WHEREAS, the Director of Public Works, pursuant to said Resolu- tion, has made his report and has presented the preliminary plans and specifications for the proposed District to the Council on the 4th day of September, 1984; and WHEREAS, the Council has examined such preliminary plans and specifications, cost estimate, maps and other documents, and ap- proved the same; and WHEREAS, the Council acknowledges that the design of the proposed District improvements is preliminary in nature and will be finalized and the final Engineering Report of the Director of Public Works filed with the City Clerk at a future date; and WHEREAS, the Petitioners have waived all notice requirements and certain other procedural requirements pursuant to Chapter 16 of the City Code. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS AS FOLLOWS : Section 1. The preliminary 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 4th day of September , 1984, for the District be, and hereby are, accepted, approved and adopted. Section 2. The nature and location of the District improvements to be assessed against property in the District shall be as set forth in the Petition and preliminary Engineering Report for the District on file with the City Clerk. Section 3. The estimated total cost of the street, water, sanitary sewer, storm drainage and irrigation ditch improvements in the District, excluding the estimated engineering, legal and adver- tising costs, interest during construction and until assessments are made by ordinance against the properties benefited, and other incidental costs as shown in the estimate of probable total cost as made by the Director of Public Works is $1, 019, 000 . 00 . Section 4-.- The--amount or proportion of the estimated total probable cast of the District-improvements to-be paid by -the City at large and not. by assessments against District property is estimated to be $139, 420 . 00, representing the estimated cost of oversizing in the District. Section 5. The balance of estimated total probable cost which is not to be paid by the City at large (presently estimated to be $879, 580. 00) shall be apportioned upon completion of the improve- ments and approval and acceptance of the same by the City in an assessment roll against each lot, tract or parcel of land to be assessed, which assessment roll shall include additional assess- ments to cover the costs of engineering, legal , advertising, inter- est 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 assessment ordinance. Such assessments shall be a lien until paid in the respective amounts assessed against each lot, tract, or parcel of land. The cost of acquiring, constructing or otherwise installing the improvements of the District shall be assessed against those lots, tracts or parcels of land owned by the Petitioners, as set forth in the Petition for the District on file with the City Clerk. Section 6 . The cost of the District improvements shall be assessed upon the District properties in such proportion as the respective properties' front footage abutting John F. Kennedy Park- way and Troutman Parkway (as the interior District streets ) bears to such abutting front footage of all properties in the District. Section 7. 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 any assessment or reallocated assessment, as the case may be, together with interest accruing thereon to the next assessment interest payment date shall be immediately due and payable by the seller or transferor thereof prior to the sale or transfer of any 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 -2- 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 lien thereon. Section 8 . Said assessments shall be payable in not more than fifteen ( 15) equal annual installments with interest on the unpaid installments to be the same as the interest rate payable on the District bonds, which interest rate shall not exceed 18% per annum. Section 9. On the 4th day of September, 1984 , at the hour of 5: 30 p.m. or as soon thereafter 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 10. The Petitioners in said District have waived all notice requirements pursuant to Chapter 16 of the Code of the City of Fort Collins. Passed and adopted at a regular meeting of the City Council held this 4th day of September 1984 . Mayor ATTEST: Q//�J &VU4560 City Cl