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HomeMy WebLinkAbout1984-095-06/05/1984-ADOPTING THE REPORT OF THE DIRECTOR OF PUBLIC WORKS IN THE ESTIMATES, COSTS AND ASSESSMENTS FOR THE RESOLUTION 84 - 95 OF THE COUNCIL OF THE CITY OF FORT COLLINS ADOPTING THE REPORT OF DIRECTOR OF PUBLIC WORKS ON THE ESTIMATES , COSTS AND ASSESSMENTS FOR THE HORSETOOTH ROAD SPECIAL IMPROVEMENT DISTRICT NUMBER 83 , APPROVING THE PLANS , ESTIMATE , MAP AND SPECIFICA- TIONS OF SUCH PROPOSED DISTRICT, DETERMINING THE AMOUNT OR PROPORTION OF THE TOTAL COST TO BE PAID BY A METHOD OTHER THAN BY ASSESSMENT AGAINST PROPERTY IN THE DISTRICT, THE PROPERTY TO BE ASSESSED FOR THE IMPROVEMENTS , THE METHOD OF MAKING SUCH ASSESS- MENTS , THE ESTIMATED NUMBER OF ANNUAL INSTALLMENTS , THE RATE OF INTEREST TO BE CHARGED UPON UNPAID INSTALLMENTS AND THE DATE WHEN THE COUNCIL WILL HOLD A HEARING AND CONSIDER THE ORDERING BY ORDINANCE OF THE PROPOSED IMPROVEMENTS . WHEREAS , the City Council by Resolution 84- gq directed the Director of Public Works to make a complete survey of the proposed Horsetooth Road Special Improvement District Number 83 , including the preparation of a map , plans and specifica- tions and an estimate of the costs of improvements in the proposed district ; and WHEREAS , the Director of Public Works has made his report and has presented the details and specifications for the proposed district; and WHEREAS , the Petitioners have waived all notice and all 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: 1 . The report, plans, specifications, map and estimate of the probable total cost as presented by the Director of Public Works for said district be and the same hereby are accepted and approved. 2. - The improvements to be constructed shall consist of the improvements described in the engineering report for the Horse- tooth Road Special Improvement District No. 83 , prepared and submitted by Shiloh, Inc. , dated May 9 , 1984 and submitted by the Director of Public Works and accepted by the council by Resolution 84- 95 3 . The total estimated cost of the improvements is $988 , 920. 00 including incidental costs, which incidental costs are estimated at $223 , 920. 00. 4 . The following estimated amount or proportion of the total costs of such improvements shall be paid by the City at large and not by assessments against a property in the district to wit : A. Oversizing and extension of the New Mercer Box culvert: $443 , 700. 00. B. Estimated payment of an amount for improvements adjacent to the Southside Baptist Church: $19 ,413 .90. S . The location and nature of the district improvements to be assessed against a property within the district shall be as set forth in the Master Agreement on file with the City Clerk. 6 . The estimated total cost of the street and storm drainage improvements in the district, including without limita- tion, the cost of engineering, constructing, or otherwise acquir- ing the improvements ; and excluding legal and advertising costs, planning, interest during construction, and until assessments are made by ordinance against the properties benefitted and other costs to the district, as shown by the estimate of probable total costs , as made by the Director of Public Works is $765 ,000. 00. The estimated amount or proportion of the total cost to be paid by other than special assessments is : $443 , 700 for oversizing and bridge extension and $19 ,413 .90 for the improvements adjacent to the Southside Baptist Church. The balance of the estimated total cost in the district upon completion of the improvements shall be apportioned in an assessment role against each lot, tract or parcel of land to be assessed, which assessment role shall inlcude additional assessments to cover the costs of legal and advertis- ing, interest during construction and until assessments are made by ordinance against the properties benefitted, and other inciden- tal 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 owners as set forth in the Master Agreement for the district on file with the City Clerk. Each assessment , in proportion to the benefits against a property specially benefitted, shall be sufficient to cover the portion of the total cost of the improvements to be defrayed by special assessments. 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 -2- against each such smaller parcel or other property interest shall bear the same ratio to the original assessement 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 transferor is not paying such assessment or reallocated assessement 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. 8 . Said assessments shall be payable in not more than 15 equal annual installments with the interest on the unpaid install- ments to be the same as the interest rate payable on the bonds which interest rate shall not exceed eighteen percent ( 18%) per annum. 9 . That on July 17 , 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 improve- ments by the owners of any real estate to be assessed or any interested persons. Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 5th day of June, 1984. ll�.fL Mayor TTEST : 2 City Clerk -3-