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HomeMy WebLinkAboutordinance.council.043-85RECORD OF PROCEEDINGS 100 Leaves FARM 50 C. F XOECK EL 0. 0. B L. CO. ORDINANCE NO. 43 (Series of 1985j_ AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO, REPEALING AND REENACTING ARTICLE VII, CHAPTER 19, OF THE MUNICIPAL CODE OF THE CITY OF ASPEN, COLORADO, TO PRESCRIBE METHODS AND PRO- CEDURES FOR THE MAKING OF LOCAL PUBLIC IMPROVEMENTS, ASSESSING THE COST THEREOF, ISSUING BONDS FOR THE COSTS OF CONSTRUCTING AND/OR INSTALLING SUCH IMPROVEMENTS, INCLUDING THE COSTS INCIDENTAL THERETO, AND PRESCRIBING OTHER PROCEDURES AND REGULATIONS IN CONNECTION THEREWITH WHEREAS, pursuant to Section 10.7 the City Council desires to repeal and reenact Article VII, Chapter 19, of the Municipal Code of the City of Aspen, Colorado, in order to prescribe the method of making local public improvements, assessing the cost thereof, of .issuing bonds for the cost of constructing or installing such improvements, including the costs incidental thereto, and pre- scribe other procedures and regulations in connection therewith. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO: Section 1 That Article VII, Chapter 19, of the Municipal Code of the City of Aspen, Colorado, be and the same is hereby repealed and reenacted, said Article VII to read as follows: "ARTICLE VII IMPROVEMENTS, LOCAL PUBLIC Sec. 19-150. City to contract. Sec. 19-151. Contract. Sec. 19-152. Assessment of property. Sec. 19-153. Initiation of improvements. Sec. 19-154. Rules of petition. Sec. 19-155. Public notice of proposed improvement. Sec. 19-156. Hearing of advertised proposed improvements. Sec. 19-157. Formation. Sec. 19-158. Approval. Sec. 19-159. Owners of abutting real estate. Sec. 19-160. Statement of expenses; apportionment; notice of hearing on assessments. Sec. 19-161. Complaints. Sec. 19-162. Assessment roll. Sec. 19-163. Lien against property. Sec. 19-164. Assessment; due and payable. Sec. 19-165. Default of payment. Sec. 19-166. Failure to pay. FORM 50 C. F. XOECKEL B. B. & L. LB. RECORD OF PROCEEDINGS 100 Leaves Sec. 19-167. Sale of unpaid assessments. Sec. 19-168. Bonds. Sec. 19-169. Payment of bonds. Sec. 19-170. Surplus and deficiency. Sec. 19-171. Improvements. Sec. 19-172. Legal proceedings. Sec. 19-173. Definitions. Sec. 19-150. City to _contract. The City shall have the power to contract for, construct or install special or local public improvements; to assess the cost thereof wholly or in part against the property specially benefited; to make and contract for a local public improve- ment and to pay from any lawful fund that portion of the cost which is general public benefit; and to accept contributions or grants-in-aid to supply the whole or any part of the cost apportioned to the City or to accept and apply such contribu- tion or grants-in-aid wholly or in part to the credit of the appropriate public improvement district. Sec. 19-151. Contract. (a) Where the cost of local public improvements is to be assessed wholly or in part upon the property benefited, the improvements shall be constructed by independent contract or contracts, subject to the requirements of this section. All such contracts shall be let by the City Manager with the approval of the City Council to the lowest reliable and responsible bidder after publi- cation of notice to bidders once a week for two (2) con- secutive weeks by two (2) insertions in a newspaper of general circulation within the City and such other news- paper or newspapers as may be designated by the City Council. The right to reject any and all bids shall be reserved. No contract shall be made without bond for its faithful performance with sufficient surety or sure- ties thereon. (b) Upon notice and for substantial cause, the work under such contracts may be immediately suspended or termi- nated by the City Council or the City Manager. (c) The City Manager may impose such conditions upon bidders as the City Manager may deem appropriate. (d) Upon default in the performance of any contract the City Manager may advertise and let a contract for the uncom- pleted work in a like manner and without further ordin- ance and may charge the cost thereof to the original contractor upon his contract, and when a deficiency shall in such case occur, the City Manager, with the approval of the City Council, may advance the amount thereof out of any available funds in the City and recover the same by suit on the original contract and bond. 2 I M 10 L. F..01=L S. B, . L CO. RECORD OF PROCEEDINGS 100 Leaves Sec. 19-152. Assessment of property_ When the cost of a local improvement is to be assessed wholly or in part upon the property benefited, the cost shall be assessed in proportion to benefits received. The assessments may be in proportion as the frontage of each lot or tract of land is to the frontage of all the lots and lands so improved, may be in proportion as the area of each piece of real estate in the district is to the area of all the real estate in the district, may be set by the establishment of zones based upon the proximity of each zone to the improve- ment to be made, may be borne equally by the total number of platted sites in a residential development without computing the common areas as a site, or may be established by any other method that will result in assessments being equitable in proportion to benefits,received. All costs for any improvement may be spread to all properties in the improve- ment district. If, at the time of the passage of the ordin- ance authorizing any improvement, any piece of real estate has the whole or any part of the proposed improvement con- forming to the general plan and acceptable to the City Engi- neer, the existing improvement may be adopted in whole or in part, or necessary changes thereof may be made to make the same conform to the general plan, and the owner of such real estate shall, when the assessment is made, be credited with the amount which is saved by reason of adopting or adapting such existing improvement. Sec. 19-153. Initiation of improvement. Where the cost of a local public improvement is to be assessed wholly or in part upon the property benefited, the improvement may be initiated by the owners of more than fifty percent (50%) of the area of the proposed district including at least fifty percent (50%) of the landowners residing in the district or may be initiated by order of the City Council without receiving a petition therefor, subject, however, to protest by the landowners of more than fifty percent (50%) of all property benefited and constituting the basis of the assessment as the City Council may determine. Sec. 19-154. Rules of petition. (a) Petitions for a proposed improvement shall describe the real property owned by each signer being benefited by the proposed improvement; shall state the nature and location of the proposed improvement and the proposed maximum unit cost thereof, which unit cost shall be exclusive of the costs of collection of the assessments, of other incidentals and all interest on any bonds issued in payment of construction and other costs from the time of issuance of said bonds to the time that interest commences on assessments; shall authorize the advertising of the proposed improvement for remon- strances if a preliminary, informal estimate of the City Engineer indicates that the cost of the proposed improvement will not exceed by more than ten percent (10%) the maximum unit cost set forth in the petition; shall state that the petitioners will not challenge the formation of the district or the imposition of assess- ments for reasons other than errors in mathematical com- putations; and shall authorize an increase of the pro- posed maximum unit cost by not more than ten percent 3 RECORD OF PROCEEDINGS 100 Leaves FOP. R C. F...E=L B. 6. 8 L. CD. (10%) thereof and the assessment of such increase if the estimate of the City Engineer determines that such increase is necessary. (b) All signatures on petitions shall be subscribed and acknowledged in the manner provided by law for acknow- ledgement of deeds of conveyance of real estate; pro- vided, however, that the signature of any owner or owners of real property may be attached to a petition by their agents duly authorized by power of attorney accom- panying the petition. No petitioner, his heirs or assigns, shall be permitted to withdraw from a petition after such petition has been filed with the City Manager unless the proposed improvement is not advertised for remonstrances within nine (9) months from the filing of the petition with the City Manager, and any petitioner who fails to withdraw prior to advertising shall be deemed to have waived his right to withdraw. Sec. 19-155. Public notice of proposed improvement. (a) In all cases where the cost of local public improvements is assessed wholly or in part upon property benefited, public notice of the proposed improvements, either indi- vidually or in groups, and of a hearing or hearings on the proposed improvements shall be given by publication in one issue of a newspaper of general circulation in the City, the publication to be at least fifteen (15) days prior to the date of the hearing. The same notice of hearing shall be mailed by first class mail to the owners of record of all real estate within the proposed district who are to be assessed for the cost of improve- ments, as such owners of record are determined by refer- ence to the current records in the office of the County Assessor as such records are kept by that official for the purpose of performing the function of County Asses- sor. (b) The mailed notice shall be made on or about the date of publication of the notice of hearing. The notices shall specify the kind of improvements which are proposed; the property to be included within the district and benefited by the proposed improvements; the proposed method or methods of assessment; the manner of payment therefor including the proposed number of annual installments; the date, place, and time for hearing written remonstrances to the proposed improvements; and that a map and schedule showing the approximate cost of the improvements as provided by the estimates of the City Engineer are on file and can be seen and examined by any interest person at the office of the City Clerk or other designated place before the date of the hear- ing. Sec. 19-156. Hearin of advertised_proposed_improvements. (a) On the day and at the time and place specified in the notice, the City Manager shall conduct a hearing for the purpose of considering the desirability of and the need for the proposed improvements. If for any reason the hearing is postponed and not held until a later hour or 4 F.R. 10 G F. HOMLI l B. 9. ® L CO. RECORD OF PROCEEDINGS 100 Leaves date, written remonstrances to a proposed improvement shall be accepted up to the opening of the postponed hearing session. Otherwise, such written remonstrances must be filed prior to the date and hour of the original hearing. (b) All written remonstrances to a proposed improvement shall be subscribed and acknowledged in the same manner as is required for petitions for proposed improvements. No person who has signed his name for an improvement shall be permitted to sign a remonstrance to the same improvement unless such person has regularly withdrawn from such petition as herein provided. (c) If a duly executed, written remonstrance is timely filed by persons constituting the owners of the property to be assessed for more than fifty percent (50%) of the pro- posed improvements, the proposed improvements to such property shall not be ordered. (d) After the hearing and subject to the foregoing limita- tions, the City Manager shall enter an order approving those improvements which the City Manager considers proper and disapproving those proposed improvements which the City Manager considers improper. (e) All proceedings by the City Manager may be modified or rescinded wholly or in part at any time prior to the passage of the ordinance authorizing the improvements, provided that no substantial change in the district, preliminary plans, specifications, or estimates shall be made after the publication of notice to property owners except the deletion of improvements and property from the proposed district, and provided further that the City Manager shall have the right to make minor changes to the time, plans, specifications, or estimates con- cerning the proposed improvements at any time before the improvements are complete. Any objections to the regu- larity, validity, or correctness of the proceedings and instruments taken, adopted, or made prior to the date of said hearing shall be deemed to be waived unless pre- sented by remonstrance at the time and in the manner herein specified. Sec. 19-157. Formation. Upon fulfillment of the hearing requirements of this article, the City Engineer shall combine into suitable construction units those proposed local improvements which have been approved by the City Manager following said hearing. Each construction unit, whether or not composed of contiguous parcels, shall constitute a special or local public improve- ment district, or shall be combined into a single district with multiple construction phases and shall be so referred to hereinafter. In the formation of such special improvement district or districts, the City Engineer shall make such com- bination as, in the City Engineer's judgment, will make for efficiency in construction and which will result in the lowest possible construction cost. For each such special improvement district, the City Engineer shall submit to the City Manager the following: 5 ka FORM 50 C. F. XORCKEL B. B. 8 L. CO. RECORD OF PROCEEDINGS 100 Leaves (1) A detailed estimate of the total cost of the improve- ments exclusive of the costs of collection, incidentals, interest on bonds, and costs of bond issuance; (2) A detailed estimate of the cost of each major type of improvement included within the district exclusive of the costs of collection, incidentals, interest on bonds, and costs of bond issuance; (3) The estimated time of construction; (4) Full details and specifications for the construction of the proposed improvements, which details and specifica- tions shall permit and encourage competition among bid- ders; and (5) A map showing the real property to be assessed for the cost of construction and that portion, if any, which is either to be paid by the City or otherwise not assessed for the improvements. Sec. 19-158. Approval. (a) Whenever the City Manager approves a special improvement district following the procedures set forth herein, the City Manager shall cause to be prepared and submitted to the City Council an ordinance authorizing the creation of the district and the construction of the proposed improvements. (b) The finding by ordinance of the City Council that said improvements were duly ordered after notice duly given and after hearing duly held as required pursuant to this article, that a petition was presented, that the peti- tion was subscribed by all or the required number of owners, or that a remonstrance was or was not filed shall be conclusive of the facts so stated in every court or tribunal. Sec. 19-159. Owners of abutting real estate. Before beginning construction, the City Manager may order the owners of the abutting real estate to connect their several premises with the gas, water and sewer mains or with any other conduits in the street or alley adjacent to their pre- mises. In case of a failure or refusal by the owners of the abutting real estate to make the ordered connections, such connections shall be made incidental to the authorized con- struction and the cost thereof shall be assessed upon the appropriate abutting real estate. Sec. 19-160. on ass es; a000rtio (a) Upon completion of any local improvement, upon comple- tion from time to time of any part thereof and upon acceptance thereof by the City Manager, or when the total cost of any improvement or of any such part there- of can be definitely ascertained either prior to or after commencement of construction, the City Manager shall cause to be prepared a statement showing the whole N FORM 50 G F. NOECN EL B. B. & L CO. RECORD OF PROCEEDINGS 100 Leaves cost of the improvement and the portion thereof, if any, to be paid by the City, including an amount not exceed- ing six percent (6%) additional for the cost of inspec- tion, collection, and other incidentals and also includ- ing interest on the bonds issued to the time of payment of the first installment of the assessments, apportion- ing said costs, after deducting the amount, if any, to be paid by the City, upon each lot or tract of land to be assessed for same, which statement shall be filed in the office of the City Clerk. In determining the whole cost of the local improvement, there shall be included therein, without limitation of the generality of the foregoing, the cost of constructing or otherwise acquir- ing such improvements or property and rights -of -way therefor, contingencies, engineering and clerical ser- vices, supplies, inspection, processing, collection of assessments, advertising, printing, interest on bonds until interest on assessments commences to defray such, fiscal services, legal services, and other incidental and administrative costs. (b) The City Clerk shall give notice that the assessment roll has been completed and of a hearing on .the assess- ment roll by publication in one issue of a newspaper of general circulation in the City, the publication to be at least fifteen (15) days prior to the date of the hearing. The same notice of hearing shall be mailed by first class mail to the owner of each property to be assessed for the cost of the improvements. The mailed notice shall be made on or about the date of the publi- cation of the notice of hearing. The notices shall spe- cify that said improvements have been or are about to be completed and accepted or that a contractor has or is about to be selected for the work and that the cost of the improvements can now be ascertained; the whole costs of the improvements; the portion, if any, to be paid by the City; the share apportioned to each lot or tract of land; that any complaints or objections which may be made in writing by the property owners or any citizen to the City Council and filed in writing on or prior to the date and hour of the hearing will be heard and deter- mined by the City Council before the passage of any ordinance assessing the cost of said improvements; and the date and place where such complaints or objections will be heard. Any complaint or objection to the regu- larity, validity, or correctness of the proceedings or of said proposed apportionment or of any assessment based thereon and the amount thereof levied on each tract and parcel of land shall be deemed waived unless presented in writing at the time and in the manner here- in specified. Sec. 19-161. Complaints. At the time specified in the notice or at a properly adjourned time, the City Council, sitting as a Board of Equalization, shall hear and determine all written complaints and objections filed with the City and may confirm the appor- tionment proposed or make any modifications which may seem equitable and just. After the consideration of all com- plaints and objections to the apportionment, if any change in 7 ram, .-•, FORM 50 C. F. XOECKEL B. B.8 L. CO. RECORD OF PROCEEDINGS 100 Leaves the apportionment shall be made by the Council, it shall cer- tify such change to the City Manager, who shall prepare a new apportionment and an assessing ordinance in accordance there- with and shall transmit same to Council. The assessing ordinance shall assess the cost of the improvement against the real estate to be assessed in the district in the propor- tion finally determined. The passage of the assessing ordin- ance shall be prima facie evidence of the fact that the pro- perty assessed is benefited in the amount of the assessment and that the assessments have been lawfully made. Sec. 19-162. Assessment roll. The City Clerk shall from said assessing ordinance prepare a local assessment roll in book form showing in suitable columns each piece of real estate assessed, the amount of the assessment, the amounts of each installment of principal and interest if, pursuant to this article, the same is payable in installments and the date when such installments will become due, with suitable columns for use in case of payment of the whole amount or of any installment or penalty, and the City Clerk shall deliver the same duly certified to the Finance Director for collection. Sec. 19-163. Lien against proper_ (a) From the date of the final publication of the assessing ordinance all assessments made pursuant thereto shall be a lien in the several amounts assessed against each lot or tract of land, and such assessments shall have prior- ity over all other liens except general taxes. As to any subdivisions of any real estate assessed pursuant thereto, the assessments in each case shall be a lien upon all the subdivisions in proportion to their respec- tive areas. No delays, mistakes, errors, defects or irregularities in any act or proceeding authorized here- in shall prejudice or invalidate any final assessment, but the same shall be remedied by subsequent or amended acts or proceedings as the case may require, and when so remedied, the same shall take effect as of the date of the original act or proceeding. (b) If in any court of competent jurisdiction any final assessment is set aside for irregularity in the proceed- ings or for any other reason, then the Council, upon notice as required in the making of an original assess- ment, may make a new assessment in accordance with the provisions herein. Sec. 19-164. Assessment; due and payable; (a) Without demand, all assessments shall be due and payable within thirty (30) days after the publication of the assessing ordinance after its passage, provided that the City Council may provide that, at the election of the owners, such assessments may be paid in not more than fifteen (15) equal annual installments, which install- ments with interest in all cases on the unpaid portion of such assessment, shall be payable annually with interest at a rate as determined by the City Council on the unpaid assessment. The number of installments, 0 RECORD OF PROCEEDINGS 100 Leaves FORM 50 B. F. HOf LKEL B. B.8 L. L1 periods of payment and rate of interest shall be deter- mined and fixed by the City Council in the assessing ordinance. Payment may be made to the City Treasurer at any time within thirty (30) days after the publication of the assessing ordinance after its passage, and an allowance of five per centum (5%) for costs of collec- tion may be made on all payments during said period of thirty (30) days. (b) Failure to pay the whole assessment within the said period of thirty (30) days shall be conclusively con- sidered and held as an election on the part of all per- sons interested, whether under disability or otherwise, to pay in such installments. The election of any person to pay in installments shall be conclusively considered and held a waiver of any and all right to question the power or jurisdiction of the City to construct the improvements, the quality of the work, the regularity or sufficiency of the proceedings or the validity or cor- rectness of the assessment. (c) The owner of any piece of real estate not in default as to any installment or payment may at any time pay the whole unpaid principal of his assessment with the inter- est to the time the next installment of interest or principal becomes due and payable. (d) The owner of any divided or undivided interest may pay his share of any assessment. Sec. 19-165. Default of payment_ At the expiration of said thirty -day period provided in Sec- tion 19-164, the Finance Director shall return the local assessment roll to the City Clerk, thereon showing all pay- ments made thereon with the date of each payment. Said roll shall be certified by the City Clerk and shall be delivered by the City Clerk to the Pitkin County Treasurer with a war- rant for the collection of the same. The City Clerk shall obtain a receipt from the County Treasurer for the same. The County Treasurer shall receive payment of all assessments appearing upon the assessment roll with interest. In case of default in the payment of any installment of principal or interest when due, the County Treasurer shall advertise and sell any and all property concerning which such default is suffered for the payment of the whole of the unpaid assess- ments with interest and penalties thereon. Said advertise- ments and sales shall be made at the same time and in the same manner under all the same conditions and penalties and with the same effect as are provided by general law for sales of real estate in default of payment of general taxes. Sec. 19-166. Failure to pay. Failure to pay any installment, whether of principal or interest, when due shall cause the whole of the unpaid prin- cipal to become due and payable immediately, and the whole amount of the unpaid principal and accruing interest shall thereafter draw additional interest at the rate of one and one-half percent (1.5%) per month or fraction of a month until the day of sale, but at any time prior to the date of FORM EO G F. XOECI(EL 0. B. H L CO. RECORD OF PROCEEDINGS 100 Leaves sale the owner may pay the amount of all delinquent principal installments and accrued interest with additional interest at one and one-half percent (1.5%) per month or fraction of a month, as aforesaid, and thereupon shall be restored to the right thereafter to pay in installments in the same manner as if default had not been suffered. No statute of limitations shall apply until the last installment of assessments becomes due and payable. Sec. 19-167. Sale of unpaid assessments. (a) At any sale by the County Treasurer of any real estate in the City for the purpose of paying any special assessments for local improvements, the Finance Direc- tor, having the written authority from the City Council, may purchase such real estate without paying for the same in cash and shall receive a certificate of purchase from the County Treasurer in the name of the City. Such certificates shall be received and credited at their face value, with all interest and penalties accrued, on the account of the assessments in pursuance of which the sale was made. The certificates may thereafter be sold by the Finance Director for the best price obtainable at public sale, at auction or by sealed bids in the same manner and under the same conditions as is hereinafter provided in respect to the sale of property owned by the City. The proceeds, in the event that all bonded indebtedness incurred in payment for said local improve- ments has not been discharged in full or any other por- tion of the assessment against the property has not been paid in full, shall be credited to the fund created by the ordinance for the payment of such bonds, or, in the event that all bonded indebtedness incurred in payment for said local improvements has been discharged in full and that any other portion of the assessment against the property has been paid in full, the proceeds shall be credited to the special surplus and deficiency fund pro- vided for by Section 19-168 of this article. Any assignments shall be without recourse, and the sale and assignment of City`s right to receive sale proceeds shall operate as a lien in favor of the purchaser and assignee as provided by law in the case of sale of real estate in default of payment of general taxes. (b) Cumulatively with all other remedies, the City, being the owner of the property by virtue of a tax deed or being the owner of property otherwise acquired in satis- faction or discharge of the liens represented by such certificates of sale, may sell such property for the best price obtainable at public sale, at auction or by sealed bids. Such sale shall be after public notice by the Finance Director to all persons having or claiming any interest in the property to be sold or the proceeds of such sale, such public notice to be by publication once a week for three (3) consecutive weeks by three (3) insertions in a newspaper of general circulation within the City. Such notice shall describe the property and state the time, place and manner of receiving bids and 10 RECORD OF PROCEEDINGS 100 Leaves FORM 50 C. F. H06CKE4 B. B. H L. CO. the time fixed for sale, which shall be not less than twenty (20) days after the first publication. The City may reject any and all bids. Any interested party, at any time within ten (10) days after receipt of bids for the sale of property, may file with the City Manager a written protest as to the sufficiency or the amount of any bid made or the validity of the proceedings for the sale. If such protest shall be denied, such person within ten (10) days thereafter may commence an action in a court of competent jurisdiction to enjoin or restrain the City from completing the sale. If no action is commenced, all protests or objections to the sale shall be deemed to have been waived, and the City shall then convey the property to the successful bidder by quit claim deed. (c) In addition to all other remedies the City, when it is the holder of a certificate of purchase, may bring a civil action for the foreclosure thereof joining as defendants all persons having or claiming any interest in the property or the proceeds of foreclosure sale and all governmental units having taxes or other claims against said property and all unknown persons having or claiming interest in said property. Any number of certificates may be foreclosed in the same proceeding. In such proceedings the City, as plaintiff, shall be entitled to all relief provided by law in actions for adjudication of rights with respect to real property. (d) The proceeds of any such sale of property shall be credited to the appropriate special assessment fund or to the surplus and deficiency fund as hereinabove pro- vided. The City shall deduct therefrom the necessary expenses in securing deeds and taking procedures for the sale or foreclosure. Sec. 19-168. Bonds. Special assessment bonds of the City may be issued for the purpose of paying all or such portion of the cost of any improvement constructed or to be constructed under the provi- sions of this article as may be assessed against the property specially benefited. Such bonds may be issued of such date and in such form as may be prescribed by the City Council, bearing such interest as may be determined by the City Coun- cil, bearing the name of the district improvement and payable to the bearer or registered owner in a sufficient period of years after the date thereof to cover the period of payment provided, but subject to call as provided in Section 19-169 of this article and in convenient denominations in multiples of one thousand dollars ($1,000.00) each. The bonds may be issued for all or any portion of the amount to be assessed against the property specially benefited, and the assessments to be collected on the real property specially benefited may be allocated for the improvements that were paid for by the issuance of such special assessment bonds and for the ser- vices or improvements that were provided by the City or its designee and for which the City or its designee is being reimbursed. All such bonds shall be issued on estimates or contract amounts approved by the City Council and such bonds shall be sold to the best advantage of the City at either 11 f.P. 10 C. 1. NOKL Vl .... & L CO. RECORD OF PROCEEDINGS 100 Leaves public or private sale, and the Finance Director shall pre- serve a record of the same in a suitable book kept for that purpose. All such bonds may be in registered or bearer form, with or without interest coupons, be subject to such condi- tions for transfer, be subject to provisions for conversion as to denominations or to bearer or registered form, be made registrable or payable, or both, by the Finance Director or other officers of the City, or by a trustee, registrar, pay- ing agent or transfer agent within the United States of America, be issued, transferred, and registered by such book entry, be in such denomination or denominations, bear such dates, signatures, and authentications, and be held in cus- tody by a depository within the United States of America, all as may be determined by the City in the ordinance authorizing the issuance of such special assessment bonds. Payment at designated due dates or in installments may be required by the authorizing proceedings to be by check, draft, or other medium of payment, and need not be conditioned upon presenta- tion of any bond or coupon. Signatures may be manual or fac- simile, but each bond shall bear at least one (1) manual sig- nature, which may be that of an official of the City or of the trustee, registrar, or transfer agent. Such bonds shall be payable out of the moneys collected on account of the assessments made for such improvements, out of the surplus and deficiency fund referred to in Section 19-170 of this article, or out of any other fund established as additional security for the bonds. All moneys collected from such assessments for any improvements shall be applied for the payment of the bonds issued until payment in full is made of all of the principal, premium, if any, and interest on the bonds. However, if a portion of the assessments is being used to reimburse the City or its designee for its cost in providing the improvement, the allocation of the assessment as to payment of the principal, premium, if any, and interest on the bonds, and the reimbursement to the City or its desig- nee, shall be made pursuant to the authorizing ordinance. Sec. 19-169. Payment of bonds. Whenever considered prudent by the Finance Director, and whenever funds may be in the Finance Director's hands to the credit of the improvement district exceeding six (6) months' interest on the unpaid principal, the Finance Director shall, after publication of notice once in one (1) issue of a news- paper of general circulation within the City, call in a suit- able number of such bonds for payment. At the expiration of thirty (30) days from the first publications of such notice, interest on the bonds so called shall cease. The notice shall specify by number the bonds so called, and all such bonds shall be paid in their regular numerical order. The holder of any bonds may at any time furnish his or her post office address to the Finance Director, and in such case a copy of said advertisement shall be mailed by the Finance Director to the holder of the bonds at said address on or prior to the first day of said publication. If applicable, if there are funds to the credit of the improvement district that are allocated toward the reimbursement to the City in an amount exceeding six (6) months' interest on the unpaid prin- cipal amount for those improvements provided by the City, the Finance Director shall transfer that amount to the City to be applied toward the principal amount due the City for reim- 12 <O • RECORD OF PROCEEDINGS 100 Leaves FORM 5C. F. XOE CK EL 9. B.8 L. CO. bursement. Notice for bonds which are in registered form shall be given by mailing notice to the registered owner by first class mail not more than thirty (30) days and not less than fifteen (15) days prior to the date fixed for redemp- tion. Sec. 19-170. Surplus and deficiency_ (a) Where all outstanding bonds have been paid in a special improvement district and any monies remain to the credit of said district, they shall be transferred to a special surplus and deficiency fund, and whenever there is a deficiency in any improvement district fund to meet the payments of outstanding bonds and interest due thereon, the deficiency shall be paid out of said surplus and deficiency fund. Whenever a special improvement dis- trict has paid and canceled three -fourths (3/4) of its bonds issued and for any reason the remaining assess- ments are not paid in time to take up the remaining bonds of the district and the interest due thereon, and there are not sufficient monies in the special surplus and deficiency fund, then the City shall pay said bonds when due and the interest due thereon, and shall reim- burse itself by collecting the unpaid assessments due said district. (b) In consideration of general or special benefits con- ferred on the City at large from the construction or installation of improvements in special or local improvement districts, the City Council may levy annual taxes on all taxable property within the City at a rate not exceeding four (4) mills in any one (1) year, to be disbursed as determined by the City Council for the pur- pose of paying for such benefits, for the payment of any assessment levied against the City itself in connection with bonds issued for special or local improvement dis- tricts, or for the purpose of advancing money to main- tain current payments of interest and equal annual pay- ments of the principal amount of bonds issued for any special or local improvement district hereinafter cre- ated. The proceeds of such taxes shall be placed in a special fund and shall be disbursed only for the purpose specified herein; provided however, that in lieu of such tax levies the City Council may annually transfer to such special fund any available monies of the City, but in no event shall the amount transferred in any one (1) year exceed the amount which would result from a tax levied in such year as herein limited. (c) As additional security for any bonds issued for special or local improvement districts, the City Council may establish a separate reserve fund for said issue of bonds to be used for the purpose of advancing money to help maintain current payment of interest and equal annual payments of the principal amount of such bonds. Moneys to be placed in such a reserve fund shall be allocated from any legally available monies of the City, including temporary or permanent advances of cash or other security provided by one or more property owners. Upon the payment in full of the principal and interest on the bonds for which the reserve fund was established, 13 FOgM 50 C. F. NO ECK EL B. B. 8 L G0. RECORD OF PROCEEDINGS 100 Leaves the monies remaining in the reserve fund, if established from City monies, shall be returned to the City to be used for any lawful purpose as the City Council shall designate; provided however, that if the reserve fund was established from bond proceeds, the moneys in such reserve fund shall be first allocated to the final prin- cipal and interest payment on the bonds. (d) As additional security for any bonds issued for special or local improvement districts, the City Council may, in its discretion, provide, or require one (1) or more pro- perty owners who own property within the district to provide audited financial statements, appraisals, and/ or a letter of credit or other credit enhancement issued by a bank or other financial institution acceptable to the City, to be used for the purpose of advancing money to help maintain current payment of assessments of the property owner or owners providing the letter of credit, or, in the event the letter of credit is provided by the City, to help maintain current payments of principal of and interest on such bonds. Sec. 19-171. Improvements. (a) The improvements authorized by this article may consist of grading, paving, curbing, guttering, parking, land- scaping, street lighting, or traffic signalization for or otherwise improving the whole or any part of any street or alley or public easement in the City or any one or more of said improvements, including the recon- struction, replacement, renewal, or extension of the same and the acquisition of property and rights -of -way therefor. In the case of grading and curbing only, the improvements may include the necessary crosswalks. Water, storm drainage, and sanitary sewer systems may be included in street improvements. System and off -site appurtenances, such as booster pump stations incidental to such facilities, may also be included. Improvements may also consist of any local improvement and renewals or extensions thereof which benefit the land abutting on, touching, or otherwise concerning such improvements, such as interchanges, trails, pedestrian amenities, utility upgrading and undergrounding, public transporta- tion facilities, sidewalks, signage, landscaping, public parks, public golf courses, and other public facili- ties. (b) If improvements consist of the construction of district sewers or storm sewers, the costs of district storm sewers may be assessed on all of the land in said storm sewer district respectively in proportion as the area of each piece of land in the district or in the part improved is to the area of all the land in the district, or by any other method that will result in the assess- ments be equitable in proportion to the benefits received. Such storm drains may be made, contracted for, or constructed in sizes larger than required by a local improvement district, and the City may pay from any lawful fund that portion of the cost that may be in excess of the cost required by the district. Upon the extension at a later time of the mains or submains to an 14 FORM 10 L. 1. XOE=1 9. ,. 1. CO. RECORD OF PROCEEDINGS 100 Leaves area not included within the district for which mains or submains were made and contracted for, the City may assess the amount paid by the City as a lien upon the real property benefited by the oversized construction and extension of the mains and submains. (c) If improvements consist of district interchanges, land- scaping, parks, or recreational facilities, the cost of the improvement may be assessed on all of the land in said district respectively in proportion as the area of each piece of land in the district or in the part improved is to the area of all the land in the district, or by the establishment of zones based upon the proxim- ity of each zone to the improvement to be made, or by any other method that will result in the assessments being equitable in proportion to the benefits received. Sec. 19-172. Legalproceedings. No action or proceeding at law or in equity to review any acts or proceedings or to question the validity or enjoin the performance of any act or the issuance or collection of any bonds or the levy or collection of any assessments authorized herein or for any other relief against any acts or proceed- ings done or had pursuant hereto or under the provisions of the Charter of the City of Aspen with reference hereto, whether based upon illegalities, irregularities or jurisdic- tional defects, shall be maintained unless commenced within thirty (30) days after the performance of the act or the pas- sage of the resolution or ordinance complained of, or else be thereafter perpetually barred. Sec. 19-173. Definitions. (a) In all proceedings authorized or required by this arti- cle, figures may be used instead of words, and it shall not be necessary in improvement districts to designate each piece of real estate in the district separately, but general descriptions and quantities may be used except in the assessment rolls, and the cost may be stated as being a probable amount per front foot or per square foot or per lot of a given size, and proportion- ate amounts for other lots or when a different rule of assessment is provided, then as being subject to such rule. (b) As used in this article, the following terms shall have the meanings indicated: "Engineer" - includes the City Engineer and/or any engi- neer or firm of engineers or corporation engaged in the practice of engineering, which may be under contract with the City with respect to local public improvements contracted for or installed pursuant to this article as may be designated by the City Engineer. "City Manager" - includes the City Manager's authorized representative, when such authority has been given by a written order of the City Manager or, in the absence of the City Manager, the City Engineer. 15 W RECORD OF PROCEEDINGS 100 Leaves FORM 50 C. F. XOECKU B 0. B L CO. "Real Estate" - all lands, whether platted or unplatted, regardless of lot or land lines. Lots, plots, blocks, and other subdivisions may be designated in accordance with any recorded plat thereof, and unplatted lands may be designated by any definite description. "Public or Local Improvements" - shall mean and include any improvement which may be authorized by the City Council pursuant to the provisions of this article which serve a municipal purpose, and which confer a special benefit upon the real property within the district, including, but not limited to, the grading, paving, curbing, guttering, drainage, parking or otherwise improving the whole or any part of any street, alley, or streets and alleys, of the City and the construction, installation or improvement of any sidewalks, water mains, sewers, sewage disposal works, appliance for artificial lighting, landscaping, signage, recreational or other public facilities, parks, pedestrian amenities, trails, utility upgrading and undergrounding, public transportation facilities, parkways and off-street park- ing facilities, and all appurtenances, extensions or renewals thereof." Section 2 If any section, subsection, sentence, clause, phrase or por- tion of this ordinance is for any reason held invalid or unconsti- tutional in a court of competent jurisdiction, such portion shall be deemed a separate, distinct and independent provision and shall not affect the validity of the remaining portions thereof. Section 3 A public hearing on the ordinance shall be held on the 1121 day of _ . 1985, in the City Council Chambers, Aspen City Hall, Aspen, Colorado. INTRODUCED, READ AND ORDERED published as provided by law by the City Council of the City of Aspen, Colorado, at its regular meeting held at the City of Aspen on o2rp , 1985. William L. Stirling, Mayor 16 RECORD OF PROCEEDINGS 100 Leaves E ORM 50 C. F. HOECk EL B. B. & 1. Cp. ATTEST: Kathryn S Koch, City Clerk FI LLY adopted, passed -and approved this _Z� day of 1985. William L. Stirl ng,-Mayor ATTEST: Kathryn S och, City Clerk 8D/7C 17 RECORD OF PROCEEDINGS 100 Leaves FORM SO C. F. NOECNEL 0. 0. & L. CO. STATE OF COLCRADO COUNTY OF PITKIN CERTIFICATE I, Kathryn S. Koch, City Clerk of Aspen, Colorado, do hereby certify that, the above and foregoing ordinance was introduced, read in full, and passed on first reading at a regular meeting of the City Council of the City of Aspen on r 1985, and published in the Aspen Times, a weekly newspaper of general circulation published in the City of Aspen,Colorado, in its issue of 1985, and was finally adopted and approved at a regular meeting of the City Council on 1985, and ordered published as Ordinance No. }3 , Series of 1985, of said City as provided by law. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of said City of Aspen, Colorado this c�:92 A-"d day of 1985. za��Z_� 2z�' Kathryn Se/Koch, City Clerk Deputy City Clerk