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HomeMy WebLinkAboutordinance.council.008-85 ORDINANCE NO. 8 AN ORDINANCE LEVYING A SPECIAL ASSESSMENT AGAINST THE REAL PROPERTY LOCATED WITHIN THE CITY OF ASPEN, COLORADO, SPECIAL IMPROVEMENT DISTRICT NO. I; PROVIDING FOR THE METHOD OF PAYING SAID SPECIAL ASSESSMENT; APPROVING AND DIRECTING THE EXECUTION AND DELIVERY OF AN AGREEMENT WITH RESPECT THERETO; RATIFYING ACTION HERETOFORE TAKEN IN CONNECTION WITH SAID LEVY; PROVIDING OTHER MATTERS RELATING THERETO; AND PROVIDING THE EFFECTIVE DATE HEREOF. h~EREAS, the City of Aspen in the County of Pitkin and State of Colorado (the "City") is a municipal corporation duly organized and existing as a home rule city under Article XX of the Constitution of the State of Colorado; and WHEREAS, the City Council of the City (the "Council"), pursuant to Ordinance No. 46 ("Ordinance No. 46"), which was passed and adopted as amended on final reading on September 12, 1983, did create and establish within the corporate limits of the City a local improvement district known and designated as City of Aspen, Colorado, Special Improvement District No. 1 (the "District"), for the purpose of making certain local public improvements in the District in the nature of landscaping, road improvements, lighting improvements and drainage improvements (the "Improvements"); and WHEREAS, the total cost of the Improvements was $525,000, including costs for final design plans, bond issuance and incidental expenses, and, pursuant to Ordinance No. 46, $100,000 of such costs are to be paid by the City due to the general benefits conferred upon it, and $425,000 of such costs are to be assessed against benefited property within the District; and WHEREAS, pursuant to Ordinance No. 46, the City did issue and sell its fully registered bonds, without c~pons, designated as "City of Aspen, Colorado, Special Improvement District No. 1, Special Assessment Local Improvement Bonds" (the "Bonds") in the aggregate principal amount of $525,000, for the purpose of financing the cost of the Improvements and paying all proper incidental expenses and costs of issuance related to the Bonds; and WHEREAS, the construction of the Improvements has been substantially completed with the result that special benefits have been and will be conferred upon the real property within the District; and WHEREAS, pursuant to the Charter of the City (the "Charter") and Ordinance No. 46, an assessment may be levied by ordinance against the real property so benefited within the District after the construction of the Improvements has been completed; and -2- WHEREAS, the Council desires to levy such an assessment pursuant to the Charter and within the parameters of Ordinance No. 46. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO: Section 1. That all action not inconsistent with the provisions of this Ordinance heretofore taken by the City, the Council and the officers of the City, directed toward the making of the Improvements and the levy of an assessment against the real property benefited thereby within the District be, and the same hereby is, ratified, approved and confirmed. Section 2. That the Council hereby finds and determines that the Improvements have been substantially completed and that the real property located within the District has been and will continue to be specially benefited thereby. Section 3. That, in order to defray, in part, the cost of construction and installation of the Improvements and the administrative costs of the City, the Council does hereby assess and levy the sum of $405,000 on and against the real property located within the District, which is more particularly described as follows: Smuggler Mobile Home Park, as depicted on that Final Subdivision Plat of the Smuggler Mobile Home Park, recorded in Plat Book 13, Page 25, in the records of the Pitkin County Clerk and Recorder's Office. -3- Section 4. That said assessment shall be due and payable to the Director of Finance of the City (the "Director of Finance"), on behalf of the City, without demand, within thirty (30) days after publication of this Ordinance follow- ing its final passage. Alternatively, said assessment shall be paid to the Director of Finance in ten (10) annual installments equal to 81~ of the principal coming due on the Bonds in each year, with interest on the unpaid balance, payable on said annual installment dates, at a maximum rate of 12.5~ per annum as follows: Date Principal Interest Total December 1, 1985 $40,500 $50,625 $ 91,125 December 1, 1986 40,500 45,562 86,062 December 1, 1987 40,500 40,500 81,000 December 1, 1988 40,500 35,437 7~,937 December 1, 1989 40~500 30,375 70,875 December 1, 1990 40,500 25,312 65,812 December 1, 1991 40,500 20,250 60,750 December 1, 1992 40,500 15,187 55,687 December 1, 1993 40,500 10,125 50,625 December 1, 1994 40,500 5,062 45,562 Section 5. That the Mayor of the City is hereby authorized to execute and deliver, and the City Clerk of the City is hereby authorized to attest, for and on behalf of the City, an Agreement with respect to the manner of payment of the foregoing assessment to allow the property owner to pay the same on a monthly basis, in substantially the form presented to the Council at this meeting, but with such modifications thereof as are consistent with the terms and -4- provisions of this Ordinance and with Ordinance No. 46, and which the Mayor shall approve; the execution of such Agreement by the Mayor being conclusive evidence of the approval on behalf of the City of the terms and provisions thereof. Section 6. That all ordinances, resolutions, bylaws and regulations of the City, in conflict wi~h this Ordinance, are hereby repealed to the extent only of such inconsistenc~. This repealer shall not be construed to revive any ordinance, resolution, bylaw or regulation, or part thereof, heretofore repealed. ~': Section 7. That if any section, paragraph, clause or provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenfo~ceability of such section, paragraph, clause or provision shall not affect any of the remaxning provisions of this Ordinance. Section 8. That in accordance with Section 4.10 of the Charter, the Council shall hold a public hearing on this ordinance, before final passage, at : __.m., on , 1985, at the City Hall, 130 South Galena, Aspen, Colorado. Section 9. That this ordinance, after its final passage, shall be numbered and recorded, and the adoption and publication shall be authenticated by the signature of the -5- Mayor and the City Clerk and by the certificate of publication following final passage. INTRODUCED at a regular meeting of the Council on the /~ day of ~_~ 1985, and passed by a vote of ~-~ FOR and O AGAINST and ordered published in full in The PASSED ON FINAL READING, following a public hearing, by a vote of ~ FOR and d~ AGAINST, on the o~ day of ~ 1985, and ordered published by title in The Mayor / / Attest: City Clerk/ -6-