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Home My WebLink About1994-10-03 EC MEMOt • • • MEMORANDUM TO: Chuck Esterly, Director of Public Works FROM: Lou Ellis, City Clerk DATE: October 3, 1994 SUBJECT: SPECIAL ASSESSMENT DISTRICT HB 94-1286 House Bill 94-1286 clarified procedures for both TABOR and coordinated elections. The Bill permits the vote, on assessment bonds , to occur either within the assessment district itself or throughout the municipality or county in which the assessment district is located. (State Statute 29-8-129 (5) and (6) attached). This may be in conflict with our Charter, Section 108 (attached). Please let me know if I can be of further assistance. cc: Dan Brotzman, Assistant City Attorney Frank Gryglewicz, Director of Financial Services Rick Kahm, Engineering Manager Linda Wilks, Department Specialist : of Colo- 1ry duties in district Jlice offi- :ers' com- as if they I. I. joctrines mty , city nnify its 1 section i, are on 1t a judg- mmitted es serves :iys from :Ticer. In demnify e person or more demnity p·~i e public for any ·e nt that liability ace offi- :h liabil- irse the iey fees pproval )r other :ompro- ji'"ision If such 1 cover- 1undred mndred (except 1 excess ;hall be to the 1d only ;hall be 59 Underground Conversion of Utilities 29-8-129 deemed to condone the conduct of any p eace officer who uses excessive force or who \"iolates the statutory or constitutional rights of any person . Source: L. 88: (1) amended, p. 723, § 5 , effective July I. Annotator·s note. For further annotations dealing "ith public entity liability, immunity, and duty of care. see § § 24-10-106 and 24-10-106.5. Decision to remo\'e intoxicated driver from roadway. The case annotated under this catchline in the 1986 replacement vo lume was reversed in Leake v. Cain, 710 P.1d I 52 (Colo. I 986). ARTICLES Underground Conversion of Utilities 29-8-119. Issuance of bonds. 29-8-129. Issuance of bonds. ~l) After the expiration of thirty days from the effective date of the resolution levyi ng the assessments. the governing body may borrow money and issue negotiable interest-bearing bonds in a principal amount not exceeding the unpaid balance of the assessme nts levied. The bonds shall be authorized b y resolution of the governing body. The reso- lution shall prescribe the form of said bonds , the manner of their execution , which may be effected b y the use of the facsimile signatures of the officers of the governing body in accordance with the laws of the state in effect at the time of their execution, shall provide for the terms thereof, including the maximum net effective interest rate for the issue of bonds. and may direct that the bonds shall be sold at public or private sale at or below par. The bonds shall not be sold at a price such that the net effective interest rate of the issue of bonds exceeds the maximum net effective interest rate authorized. (5) In connection with the issuance of bonds pa yab le solely from special assessments , the governing body ma y provide for the submission of the ques- tion of issuing such bonds to the registered electors eligible to vo te on the question. For local improvement districts created by the governing body of any county pursuant to this article, the governing body may provide that all registered electors of the county shall be eligible to vote on the question or that only registered electors who are owners of property within or residents of the district shall be eligible to vote. For local improvement districts created by the governing body of any city or town pursuant to this article , the govern- ing body may provide that all registered electors of the city or town shall be eligible to vote on the question or that only registered electors who are owners of property within or residents of the district shall be eligible to vote. (6) In connection with the issuance of bonds payable from special assess- ments which are additionally secured by a pledge of any other funds of the county, city, or town, the governing body may provide for the submission of the question of issuing the bonds to all registered electors of the county, city, or town. Source: L. 87: (1) amended, p. 325, § 72, effective July 1. L. 94: (1) amended and (5) and (6) added, p . 1188, § 83, effective July 1. • HOME RULE CHARTER transferred to other funds. The ordinances creating Special Funds may provide for annual, periodic, or continuing appropriations from such funds. The ordinances providing for the issuance of revenue bonds may provide that they be issued in such form that principal and interest thereon may be payable out of special funds. Special funds derived from sources other than the proceeds of truces may be used for making any public improvement. Fiscal and budgetary rules may exempt Special Funds from allotment procedure. All Special Funds shall be audited annually by the independent auditor. 103: LAND AND IMPROVEMENTS RECORD The City Treasurer shall institute and maintain a record, indexed as to legal description, of all land and improvements in which the City has a record interest. Such record shall indicate the conveyance or other instrument by which the City acquired its interest and shall be referenced to the records in the office of the County Recorder . PART Ill. BONDED INDEBTEDNESS 104: GENERAL OBLIGATION BONDS Indebtedness and obligations of the City shall be incurred and limited as provided in Article XI of the Constitution of the State of Colorado applicable to towns and cities except as otherwise provided in this Charter. Council shall have power to issue general obligation bonds of the City for any public capital purpose. upon majority vote of the registered electors of the City voting thereon at a special election ; provided, however, that water extension and water improvement bonds may be issued without an election upon determination to that effect by Council. The total outstanding general obligation indebtedness of the . City, other than for water bonds, shall not at any time exceed three percent (3%) of the assessed valuation of the taxable property within the City as shown by the last preceding assessment for tax purposes . Water bonds shall mature and be payable as provided by the ordinance authorizing the issuance of said bonds. (Amended 11 -2 -65 ; 11-4-69; 11-5-91) 105 : REVENUE BONDS The City may issue revenue bonds as now or hereafter provided by Statutes of the State of Colorado for municipalities of every class . 106: REFUNDING BONDS C26 1291 • 1 • HOME RULE CHARTER Council may authorize, by ordinance, without an election, issuance of refunding bonds for the purpose of paying outstanding bonds of the City. 107 : SPECIAL OR LOCAL IMPROVEMENT DISTRICT BONDS -ISSUANCE The City shall have power to construct or install special or local improvements of every character within designated districts in the City by : (a) Order of the Council; or (b) On petition of a majority of the property owners in the designated district. Subject, in either event, to protest by the owners of the frontage or area to be assessed . Right to protest and notice of public hearing shall be given as provided by Council by ordinance. All protests shall be considered but if the public welfare warrants, Council shall have final decision . Such improvements shall confer special benefits on the real property within the said districts and general benefits to the City-at-large . The Council shall by ordinance , prescribe the method and manner of making such improvements, of assessing the cost thereof, and issuing and paying bo;1ds for costs and expenses of constructing or installing such improvements . 108 : SPECIAL OR LOCAL IMPROVEMENT DISTRICT BONDS - SPECIAL SURPLUS AND DEFICIENCY FUND Whenever a Public Improvement District has paid and cancelled four-fifths (4/5) of its bonds outstanding, and for any reason the remaining assessments are not paid in time to take up the final bonds of the district and interest thereon, then the City shall pay said bonds when due and interest due thereon, and reimburse itself by collecting the unpaid assessments due said district. (Amended 11-6 -73) 109 : SPECIAL OR LOCAL IMPROVEMENT DISTRICT BONDS - GENERAL BENEFITS -SPECIAL FUND The Special Surplus and Deficiency Fund. which has been created and is presently maintained as additional security for the payment of principal and interest of outstanding bonds of the City for Special Improvement Districts, shall continue to be maintained in the proportion that the amount on deposit in the Special Fund as of the effective date of this Charter Amendment bears C27 1291 From:. CHUCK. E Date: 9/30/94 4:21 PM Prior'ity: Normal TO: r.ou. E .. CHUCK.E LINDA.W RICK.K Subject: NEW LAWS -------------------------------Message Contents ------------------------------- • • LOU, CHUCK R. TELLS US THERE IS A NEW LAW, 94-1286, THAT DEALS WITH SPECIAL DISTRICT ELECTIONS. CAN YOU BRIEF US ON WHAT THE LAW SAY'S? THANKS, CHUCK E •