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HomeMy WebLinkAboutResolution 4893 Creating SID 745, Improvements to North Ferguson Avenue and West Oak Street 8 RESOLUTION NO. 4893 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN, MONTANA, RELATING TO SPECIAL IMPROVEMENT DISTRICT NO. 745; CREATING THE DISTRICT FOR THE PURPOSE OF PURCHASING CERTAIN LOCAL IMPROVEMENTS IN AND ABOUT NORTH FERGUSON AVENUE BETWEEN WEST OAK STREET AND BAXTER LANE AND WEST OAK STREET BETWEEN DAVIS LANE AND NORTH FERGUSON AVENUE,AND FINANCING THE COSTS THEREOF AND INCIDENTAL THERETO. WHEREAS, on the 21 st day of May, 2018, the City Commission (the "Commission") of the City of Bozeman, Montana (the "City") adopted Commission Resolution No. 4892 (the "Resolution of Intention"), stating its intent to create Special Improvement District No. 745 (the "District") to finance the costs of various improvements within the District as described therein (the "Improvements"); and WHEREAS, as set forth in the Resolution of Intention, the Commission committed other revenue sources to the costs of the project; and WHEREAS, on May 27, 2018 and June 3, 2018, the City Clerk did publish a Notice of Passage of the Resolution of Intention to Create SID No. 745 in accordance with Sect. 7-12-4106, MCA, and mailed said notice to each person, firm, or corporation or the agent of the person, firm or corporation having real property within the proposed District; and WHEREAS, the Bozeman City Commission conducted a public hearing on protests submitted to the creation of the District on June 18, 2018 and did pass on all such protests having Page 1 of 5 Resolution 4893,Creation of SID 745 found the written protests not sufficient to bar the Commission from proceeding with creation of the District. NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of Bozeman, Montana, as follows: Section I Passage of Resolution of Intention. This Commission, on May 21, 2018, adopted the Resolution of Intention, pursuant to which this Commission declared its intention to create the District, under Montana Code Annotated, Title 7, Chapter 12, Parts 41 and 42, as amended, for the purpose of paying costs of certain local improvements within the District described generally therein(the"Improvements"), and paying costs incidental thereto, including costs associated with the creation and administration of the District. Section 2 Notice of Passage of the Resolution of Intent and Public Hearing on Protests.Notice of passage of the Resolution of Intention was duly published and mailed in all respects in accordance with law, and on June 18, 2018,this Commission conducted a public hearing on written protests submitted by property owners against the creation of the District and the making of the Improvements. The public hearing occurred on the date of the first regular meeting of the Commission following the expiration of the period ending 15 days after the first date of publication of the notice of passage of the Resolution of Intention (the "Protest Period"). Section 3 Protests. Within the Protest Period,protests were filed with the City Clerk by the only property owner within the district, representing 100%percent of the total costs of the Improvements to be assessed against properties in the District, as proposed. The Commission hereby finds that the protest is invalid on the basis that a waiver of right to protest creation of a special improvement Page 2 of 5 Resolution 4893,Creation of SID 745 district was executed by the then-owner of the property in consideration of receiving approval for annexation of the property on October 19,2001. That property owner specifically waived for itself, and its successors and assigns, the right to protest the creation of one or more special improvement districts for street improvements including paving, curb/gutter, signals, sidewalk, and storm drainage facilities to Baxter Lane, Davis Lane/Fowler Road, Deadman's Gulch Road, Ferguson Road and Oak Street; trunk water main and appurtenances to serve the property; trunk sewer mains and sewage lift stations to serve the property; or to make any written protest against the size or area or creation of the district to be assessed in response to a duly passed resolution of intention to create one or more special improvement districts which would include the property. The waiver was recorded with the Gallatin County Clerk and Recorder's Office on November 14, 2001, Document No. 2053095. Section 4 Creation of the District; Insufficiency of Protests. The Commission hereby creates the District on the terms and conditions set forth herein and otherwise in accordance with the Resolution of Intention, as modified hereby. The protests against the creation of the District or the making of the Improvements filed during the Protest Period are hereby found to be insufficient. The findings and determinations made in the Resolution of Intention, including, without limitation, those relating to benefits conferred, assessment methodology, cost of improvements,method of financing, and costs associated with the creation and administration of the District,are hereby ratified and confirmed. The Commission finds the Improvements preserve public safety and provide public benefit by expanding the transportation system, improving transportation system connectivity and traffic flow,providing pedestrian ramps and traffic control signage, and providing through lanes and drive approaches for those who reside along these streets or use these streets to access their residences, businesses, places of work and recreation. The Commission further finds the Improvements especially benefit the property in the District by providing for the construction of all street facilities required by the Bozeman Municipal Code. In addition,the Improvements to West Oak Street and North Ferguson Avenue adjacent to the Park improve public safety, especially for users of the Park, by the installation of through lanes, sidewalks,parking lot approaches,pedestrian ramps and crosswalks,traffic Page 3 of 5 Resolution 4893, Creation of SID 745 control signage and pavement striping. West Oak Street had no sidewalk adjacent to the Park, so the installation of a sidewalk there is an improvement to the Park that will especially benefit its pedestrian users by improving pedestrian safety and access to the Park by pedestrians. The construction of North Ferguson Avenue adj acent to the Park, along with installation of sidewalk and other related improvements, benefits the Park and especially benefits Park users by improving safety and adding to accessibility. Section 5 Purchase of Improvements. 5.01. Declaration of Intent. The City reasonably expects to purchase the Improvements using the proceeds of a bond or warrant drawn against the District in an estimated maximum aggregate principal amount of$903,424.65 after the date of payment of the costs of the Improvements. All reimbursed expenditures shall be capital expenditures, a cost of issuance of the bond or warrant, or other expenditures eligible for reimbursement. The Commission intends to assess the District over a three year period in an amount equal to the principal of$903,424.65 plus simple interest at an.annual rate as allowed by Montana Code Annotated sect. 7-12-4189. 5.02. Budgetary Matters. As of the date hereof, there are no City funds reserved, allocated on a long-term basis or otherwise set aside (or reasonably expected to be reserved, allocated on a long-term basis or otherwise set aside) to provide permanent financing for the expenditures related to the Improvements, other than pursuant to the bond or warrant. The statement of intent contained in this resolution, therefore, is determined to be consistent with the City's budgetary and financial circumstances as they exist or are reasonably foreseeable on the date hereof. 5.03. Payments. The City's financial officer shall be responsible for making the payments described in the Resolution of Intention being generally the transfer of the appropriate amount Page 4 of 5 Resolution 4893, Creation of SID 745 of proceeds of the bond or warrant to reimburse the source of temporary financing used by the City to make prior payment of the costs of the Improvements. Each payment shall be evidenced by an entry on the official books and records of the City maintained for the bond or warrant or the Improvements and shall specifically identify the actual original expenditure being paid. PASSED,ADOPTED, AND APPROVED by the City Commission of the City of Bozeman, Montana, at a regular session thereof held on the 22nd day of April, 2019. YNTHIA US Mayor ATTEST: B Z ROBIN CROUGH City Clerk 9 •• 1883 • • tlgTr . . •Ito N co APPR ED AS TO RM: GRE&SfLLIVAN City Attorney Page 5 of 5