HomeMy WebLinkAbout1984-083-05/15/1984-ADOPTING THE REPORT OF THE DIRECTOR OF PUBLIC WORKS IN THE ESTIMATES, COSTS AND ASSESSMENTS FOR THE RESOLUTION 84- 83
OF THE COUNCIL OF THE CITY OF FORT COLLINS ADOPTING THE REPORT OF
THE DIRECTOR OF PUBLIC WORKS ON THE ESTIMATES, COSTS, AND ASSESS-
MENTS FOR THE CUNNINGHAM CORNER SPECIAL IMPROVEMENT DISTRICT NO.
82 , 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
Cunningham Corner Special Improvement District No . 82 (the
"District" ) by the acceptance of the Petitions of affected prop-
erty owners in the area (the "Petitioners" ) and by acceptance of
the Resolution of the Council adopted on the 15th day of
May , 1984, 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 costs 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
15th day of May , 1984 ; and
WHEREAS the Council has examined such preliminary plans ,
estimate of cost, maps and other documents , and has found and does
hereby find the same to be sufficient; 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 :
Section 1. That the report , preliminary plans and specifica-
tions , map and 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 15th day of May, 1984,
for the District be , and the same hereby are, accepted , approved ,
and adopted.
Section 2. That the location and nature of the District
improvements to be assessed against property within the District
shall be as set forth in the Petitions for the District on file
with the City Clerk.
Section 3. That the following amount or proportion of the
total probable 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 amount of $209,577.91 representing the cost
of oversizing in the District.
Section 4. That the estimated total cost of the street,
water, sanitary sewer, and storm drainage improvements in the
District , including without limitation , the cost of planning,
enqineering, constructing, or otherwise acquiring the improve-
ments; and excluding 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 , as made by the Director of
Public Works , is $988,688. 10 . The estimated amount or proportion
of the total cost to be paid by other than special assessments is
$209,577. 91 .
The balance of the estimated total cost in the district
( i .e . , $779, 110 . 19 ) , 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 additional assessments to cover the costs of legal
and advertising, interest during construction and until assess-
ments are made by ordinance against the properties benefited, 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 acquiring , constructing, or
otherwise installing the improvements in the District shall be
assessed against those lots , tracts , or parcels of land owned by
the Petitioners as set forth in the Petitions for the District on
file with the City Clerk. Each assessment , in proportion to the
benefits against the property specially benefited, shall be
sufficient to cover the portion of the total cost of the improve-
ments to be defrayed by special assessments.
-2-
Section 5. 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
has 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 transferer 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 6. Said assessments shall be payable in not more
than 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 7. That on the 15th day of May, 1984, at the hour of
5 :30 P.M. , or as soon thereafter as the matter may come on for
hearing 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 or any interested persons .
Section 8. That the Petitioners in said District have waived
all notice requirements pursuant to Chapter 16 of the Code of the
City of Fort Collins.
-3-
Passed and adopted at a regular meeting of the Council of the
City of Fort Collins this 15th day of May, 1984.
Mayor
ATTEST:
CitmykC&
-4-