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2007-46
A RESOLUTION
APPROVING THE SECOND AMENDED AND RESTATED SERVICE PLAN FOR FOSSIL RIDGE METROPOLITAN DISTRICT NO. 1, FOSSIL RIDGE METROPOLITAN DISTRICT NO. 2 AND FOSSIL RIDGE METROPOLITAN DISTRICT NO. 3
WHEREAS, on August 28, 2006, the City Council adopted Resolution 2006-46, a Resolution Approving the Amended and Restated Service Plan for Fossil Ridge Metropolitan District No. 1, Fossil Ridge Metropolitan District No. 2 and Fossil Ridge Metropolitan District No. 3 (the "2006 Resolution"); and
WHEREAS, the Districts desire to amend and restate the Amended and Restated Service Plan approved by the 2006 Resolution for the following purposes:
1. Two parcels of land are expected to be included within the Districts' boundaries. Inclusion of these properties will provide revenue for increased expenditures for public improvements which will be paid for by bonds issued by the Districts.
2. Bonding limits are being increased for public improvements to accommodate increased costs.
3. Flexibility is being provided to use a mix of General Obligation and Revenue Bonds to accomplish District construction of public improvements.
4. The deadline for approval of a Service Plan Amendment for Fossil Ridge District No. 4 is being extended to December 31, 2008. District No. 4 will be used for future phases of construction as they are needed; and
WHEREAS, notice of a public hearing before the City Council was duly published
in the Denver Post, a newspaper of general circulation within the City of Lakewood,
on August 7, 2007, and on the City of Lakewood website from August 16 to August
22, 2007, and the same was submitted to the Colorado Division of Local Government
as required by law, and on August 3, 2007, notice of said public hearing was
sent to the property owners within the proposed Districts, to the petitioners,
to the governing body of each existing municipality or special district which
has levied an ad valorem tax within the next preceding tax year and which has
boundaries within a radius of three miles of the proposed Districts' boundaries;
and
WHEREAS, pursuant to the provisions of part 2 of article 1 of title 32, Colorado
Revised Statutes, the City Council of the City of Lakewood held a public hearing
on August 27, 2007 regarding the Second Amended and Restated Service Plan; and
WHEREAS, the City Council has considered the Second Amended and Restated Service Plan for the Districts and all other testimony and evidence presented at the public hearing; and
WHEREAS, it appears that the Second Amended and Restated Service Plan should be approved without modification.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Lakewood, Colorado that:
SECTION 1. The above and foregoing recitals are incorporated herein by reference and, in addition to the materials formally submitted in connection with the public hearing and testimony presented at such public hearing, were considered by the City Council in making its decision.
SECTION 2. The City Council finds and determines that all of the requirements of part 2, article 1, title 32, Colorado Revised Statutes, relating to the filing of the Second Amended and Restated Service Plan have been fulfilled and that notice of the public hearing before City Council was given in the time and manner required by the laws of the State of Colorado.
SECTION 3. The City Council further finds and determines as follows:
(a) There is a sufficient existing and projected need for organized service in the area to be served by the Districts;
(b) The existing service in the area to be served by the Districts is not adequate for present and projected needs;
(c) The Districts are capable of providing economic and sufficient service to the area within their proposed boundaries;
(d) The area to be included in the Districts has and will have the financial ability to discharge the proposed indebtedness on a reasonable basis;
SECTION 4. The Second Amended and Restated Service Plan is hereby approved without condition.
SECTION 5. A certified copy of this Resolution shall be filed in the records of the City.
SECTION 6. If any section, paragraph, clause or provision of this Resolution shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of any such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution.
SECTION 7. This Resolution shall be in full force and effect upon its passage and approval.
INTRODUCED, READ AND ADOPTED by a vote of 11 for and 0 against at a regular meeting of the City Council on August 27, 2007, at 7 o'clock p.m. at Lakewood Civic Center, 480 South Allison Parkway, Lakewood, Colorado.
Stephen A. Burkholder, Mayor
ATTEST:
Margy Greer, City Clerk
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