HomeMy WebLinkAboutOrdinance 2008-1420
CITY OF WHEAT RIDGE, COLORADO
INTRODUCED BY COUNCIL MEMBER BERRY
Council Bill No. 16-2008
Ordinance No. ---1.!l?O
Series of 2008
TITLE: AN ORDINANCE SUBMITTING A BALLOT ISSUE TO THE
VOTERS OF THE CITY AT THE NOVEMBER 4, 2008
SPECIAL ELECTION, CONCERNING THE AUTHORIZATION
OF GENERAL OBLIGATION BONDS TO FINANCE
NEIGHBORHOOD FLOOD CONTROL AND STORM
DRAINAGE IMPROVEMENTS
WHEREAS, the City Council ("Council") of the City of Wheat Ridge,
Colorado ("City") has the authority to refer ballot issues to the electorate; and
WHEREAS, the Council wishes to refer a ballot issue concerning the
issuance of general obligation bonds for the purpose of financing certain drainage
and flood control improvements; and
WHEREAS, the Council wishes to set the title for the same.
NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WHEAT RIDGE, COLORADO:
Section 1. Ballot issue referred.
The following ballot issue is hereby referred to the electorate of the
City at the November 4, 2008 election:
SHALL THE CITY OF WHEAT RIDGE DEBT BE INCREASED
$9,255,000, WITH A REPAYMENT COST OF UP TO $19,000,000
AND SHALL CITY TAXES BE INCREASED UP TO $760,000
ANNUALLY FOR PURPOSE OF FINANCING
· NEIGHBORHOOD FLOOD CONTROL AND STORM DRAINAGE
IMPROVEMENTS
BY THE ISSUANCE AND PAYMENT OF GENERAL OBLIGATION
BONDS, WHICH BONDS SHALL MATURE, BE SUBJECT TO
REDEMPTION, WITH OR WITHOUT PREMIUM, AND BE ISSUED,
DATED AND SOLD AT SUCH TIME OR TIMES, AT SUCH PRICES (AT,
ABOVE OR BELOW PAR) AND IN SUCH MANNER AND CONTAINING
SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE CITY
COUNCIL MAY DETERMINE; SHALL AD VALOREM PROPERTY
TAXES BE LEVIED IN ANY YEAR, WITHOUT LIMITATION AS TO
RATE AND IN AN AMOUNT SUFFICIENT TO PAY THE PRINCIPAL OF,
PREMIUM, IF ANY, AND INTEREST ON SUCH BONDS; AND SHALL
ANY EARNINGS FROM THE INVESTMENT OF THE PROCEEDS OF
SUCH TAXES AND BONDS (REGARDLESS OF THE AMOUNT)
CONSTITUTE A VOTER APPROVED REVENUE CHANGE, AND AN
EXCEPTION TO THE REVENUE AND SPENDING LIMITS OF ARTICLE
X, SECTION 20 OF THE COLORADO CONSTITUTION?
Yes:
No:
Section 2. Ballot Title Set. The ballot title for the election is hereby set as
follows: the text of the ballot issue referred in Section 1 of this Ordinance.
Section 3. Challenaes to ballot title and content. For purposes of C.R.S. S
1-11-203.5 and s 31-10-1308(2), this Ordinance shall serve to set the title and
content of the ballot issue set forth herein. Any petition to contest the form or
content of the ballot title must be filed with the Jefferson County District Court
and a copy served on the City Clerk within five days after the title of the ballot
issue is set by the City Council upon final adoption of this Ordinance on second
reading.
Section 4. Safetv Clause. The City Council hereby finds, determines, and
declares that this Ordinance is promulgated under the general police power of the
City of Wheat Ridge, that it is promulgated for the health, safety, and welfare of
the public and that this Ordinance is necessary for the preservation of health and
safety and for the protection of public convenience and welfare. The City Council
further determines that the Ordinance bears a rational relation to the proper
legislative object sought to be attained.
Section 5. Effective Date. This Ordinance shall take effect immediately
upon adoption at second reading, as permitted by the Charter.
INTRODUCED, READ, AND ADOPTED on first reading by a vote of 6-1 on
this 11'" day of August, 2008, ordered published in full in a newspaper of general
circulation in the City of Wheat Ridge and Public Hearing and consideration on final
passage set for August 25, 2008, at 7:00 o'clock p.m., in the Council Chambers,
7500 West 29th Avenue, Wheat Ridge, Colorado, and that it take effect
immediately upon adoption on second reading.
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READ, ADOPTED AND ORDERED PUBLISHED on second and final reading by
a vote of 8 to 0 , this 25th day of August, 2008.
SIGNED by the Mayor on this 25th day of August
/
ATTEST:
Michael Snow, City Clerk
First Publication: August 14, 2008
Second Publication: August 28, 2008
Wheat Ridge Transcript
Effective Date: August 25, 2008
Jerri
,2008.
AP~AS To :orm
%~~
Gerald E. Dahl, City Attorney
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