HomeMy WebLinkAbout1995 Ordinance No. 040, .....
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ORDINANCE NO . t/o
SERIES OF 1995
BY AUT HORI TY
COUNC IL BILL NO . 42
I NTRODUCED BY COUNC IL
MEMBER HATHAWAY
AN ORDI NAN CE SU BMIT'rlNG ro A VOTE OF THE REG ISTERED ELECTORS OF
THE CITY OF EN GLEWOOD AT THE NEXT GENERAL MUN ICIPAL ELECTION A
QUESTION RELATING TO T HE ISSUANC E OF BONDS AND AUTHO RIZ AT ION OF A
PROPERTY TA.X INC R EASE TO PAY FOR THE P URCHASE OF FIR E EQUIPME NT.
WHEREAS , this bill for on ordin ance would subm it to th e registered voters of th e City of
Englewood a bal1ot questi on reg ardi ng the issuance or debL to fin ance for th e purchase ~f
fi re equipment in order t.o de li ve r t he services requ ested by the co mmunity ; nnd
WH EREAS . the De portm ent of Sa fety Se n •ices has de velo p d a majo r a ppnrotu o
re pl a ce men t schedule fo r purchase and divestit ure of fi re trucks on a regu lo r a nd
a nticipated basis: and
WHEREAS. the oldest fir e vehicle pre s ently in t he nee t is a 19i3 Pie rce Telesqui rt th at
was semi-refurbished SC\'Cr al years ago , but was due fo r replace me nt in 1993: a nd
\VHEREAS. ba sed on de mographics a nd antici pa ted co n stru ction activ~wes over th e next
fe w years, the Fire Divi s ion h as dete rm ined th at future rep ln ce ment of a B lnrge fir e
pumpe rs s hould be on a regular basis. with the prefe rred model bei ng a
pumpe r/tanke r/aerial co mbinatio n : and
WHEREAS , th e pu mp er/tanke r/ae ria l co mbin at io n provides th e greatest fl exibili ty an d
ope rational effecti\·eness fo r th e ty pe of u rb an fire fi ghting threat s end emic to Engl ewood :
a n d
WHER E . ..\S . Safety Services is request ing tha t a major a pp a ratus cap ital equ ipm ent
re pl ace ment fund be in stitut ed to avoid th e necessity fo r future one-ume fund a llocation s;
and
WHERE AS , funding wo uld the n be co rrelated to the vehic le replaceme nt sch edu le, and a
regula r turn ove r in the flee t co u ld be mo re eas ily ecco mplisl•etl:
:-io w, TH EREFORE , BE IT ORDAIX ED BY TH E CITY COU'\C IL OF TH E CIT Y OF
ENGL EWOOD , COLORA OO, AS FOLLO WS :
~. Pur suant to the provisions of la w t he Ci ty of Englewood hereby s ubmi ts for a
vo te of the re g ister t d electo rs of the City of Englewood at the 1995 Gene ral Mu nici pal
Elec t ion the following ballot ques tion :
S HALL THE CITY OF E:-IG I,EW OO D DEBT BE INC RE AS ED S-100 ,000 WI TH A
REPAV:-IE XT COST OF $600 ,000 AN D S HALL T HE CIT Y OF ENGLEWOOD'S TAX ES
BE 1:-I CREASED S65,000 ANNUA LL Y FOR TH E PAYMENT OF SL'C H DEBT , AL L FOR
T HE PURCHAS E OF FIR E EQ UIP~!DiT, BY TH E ISS UANCE AND PAYME!'.T OF
B01'DS PAYAB LE FR O~! SUC H CITY TA.XE S OR OTH ER R:::V ENUES AS TH C CITY
COUNC IL MAY DETERMI NE. WHI CH BONDS SHALL BE SU BJECT TO
f.EDEMPTION, WI TH OR WITHOUT Pi-RMIUM , Al'iD BE ISSU ED AT SUC H
MAXIMUM INTE REST RATE , DATE D AN D SOLD AT SUCH TIME OR TIMES AND IN
SUC H MANNE R AND CONT AINI NG SUCH TE RMS NOT INCONS ISTENT
HEREWITH, AS '!'HE CITY COUNCIL MAY DETERMI NE , WHICH AUTHORIZATIO N
SHALL INCLUDE AU ·:'H ORIZATIO N TO REF UN D SUCH BONDS AND REFUNDING
BONDS WIT HOUT ADllIT IO NAL VOTE R APPROVAL ; AND IN CONNECTION
TH:lREWITH IF DETERM!!'IE D BY THE CITY COUNC IL (I) SHALL THE CITY'S AD
VA LOREM PROPE RTY TAXES BE INC Rl:ASED IN ANY YEAR IN AN AMOUNT
SUFF ICI.ENT TO PAY THE PRI NC IP AL OF, PREMIUM , IF Ai.VY , AND INTEREST ON
SUC H BO NDS WHEN DUE , WITH OUT LIMIT AT ION AS TO RATE OR AJ\101.JN'I' OR
• .\."'<Y OT ' ER CON DITIO N, AND (II) SHAL L THI : PROCEE DS OF SUCH BO NDS, THE
REVE NUES FROM SUC H TAXES AND Ai.VY EA RNINGS FROM THE INVESTME:-11'
OF SUC H PROCEEDS AND RE VENUES BE CO LLE CTED AN D SPENT WITH OUT
LIM ITATI ON BY ANY REVENUE OR SP ENDI NG LIMITS, AND WITHOUT
AFFECTI NG THE DISTRICT'S ABILITY TO COLLECT OR SPE ND A,,W OTHER
REV EN UES OR FUN DS, UNDER ARTI CLE X, SEC'f!ON 20 OF THE CO LORAD O
CONS TIT UTI0:-1 OR ANY OTHE R LAW?
YES KO __
~-If the majority of the regi s e red electors voting at said e lect ion vo te yes fo r sa id
proposition the Ci ty Council shall at the earli est practical e nd lawfu l time adopt an
ordinance conforming to the affirmative vote of the maj o rit y of said registe red e lectors
vo ting in th e e lection .
lifai.lm.1 . If a majority of the registered electors of the Ci ty of Englewood vote no for said
proposi ti on the City Co uncil s hall reevaluate th e method in wh ich fi re servic es a re provi ded
in Englewood.
Introduced. read in fu ll . und pa ssed on fi r st reading on th e 17th day of July, 1195.
Publi shed as a Bill fo r an Ordinonce on the 20th day of July, 1995.
Ren d by Litle and passed on final reading on the ith dny of August, 1995 .
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Publi sh ed by titl e as Ordinance No .7.i2, Ser ie s of 1995 , on the 10th doy of August, 1995.
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Loucri sh ia A. Ellis , City Cle rk
I. Lou crishia A. Elli s, City Clerk of the Ci ty of Englewo,d , Co lorado , hereby certify that
the above and foregoin g is a true co p;t_of the Ordinance passed on final readi ng and
~·"•··· ., ,,,,, .. ''""'"" ,,. lil '"'" ., "" ~ C!t:.
Loucrishia A. Ellis
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COUNCIL COMMUNICATION
Date Agenda Item Subject
July 17, 1995 11 a iv Proposed Bill For An
Ordinance Regarding
Submission To A Vote Of The
Registered Electors Of The
City Of Englewood
Regarding Proposed Debt
Issuance For Fire Eauioment.
Initiated By I Staff Source
Department of Financial Services Frank Gryglewicz , Director
COUNCIL GOAL AND PREVIOUS COUNCIL ACTION
The approval to incur debt for the purchase of fi re equipment would increase the overall
emergency preparedness of the City of Englewood. This bill fer an ord inance would submit to
the registered voters of the C ity of Englewood for the issuance of $400,000 of bonded debt to
finance the purchase of fire equipment. The vote would also ask for authorization to impose
a property tax to pay the debt serv ice on the proposed bond issue. This issue was addressed
at the Study Session 011 June 19, 1995 .
RECOMMENDED ACTION
Staff recommends Council appro~e the attached bill for an ord inance submittin g to a vote of
the registered voters of the City of Englewood to issue debt arid the authority to increase the
property tax levy for repaym ent of the bonded debt over the term of the bonds.
BACKGROUND, ANALYSIS, AND ALTERNATIVES IDENTIFIED
The C ity of Englew ood Charter :·equires a majority affirmative vote of the registered electors to
issue general obli gation debt (Art ic le X , Part Ill , Se ction 104). The passage of Amendment 1
(TABOR) requires the use of tightly cons tructed language in the ballot qu~ti on.
C ity staff agrees that this is rn appropriate use of th e C ity 's bonding capacity. The staff feels
th at since property owners are directly benefitled by having modern fire fighting equ ipment to
facilitate safety se rvices activities , an increa se in property tax would be the most equitable
revenue source for debt re payment.
ANANCIAL IMPACT
The estimated cost of this equipment is $400,000. If bonding is approved, debt service
collections and payments will be made from a separate debt service fund. Therefore, no
direct imriact on existing City resources will be felt.
LIST OF ATTACHMENTS
Proposed bill for an ordinance
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