3.5.116: OFFICERS AUTHORIZED TO TAKE ACTION:

The officers of the City are authorized and directed to take all action necessary or appropriate to effectuate the provisions of this chapter. (Ord. 2771; 1968 Code §12-92; Ord. 01-42)

3.5.117: PROVISIONS SUPERSEDED:

Colorado Revised Statutes section 31-20-106 is superseded. (Ord. 3631; 1968 Code §12-94; Ord. 01-42)

3.5.118: LIABILITY DURING CONSTRUCTION OF PUBLIC IMPROVEMENTS:

When any contractor, subdivider or any person other than the City, commences the construction of any public improvement, public liability for the condition and maintenance of public improvement shall be that of the contractor, subdivider or other person undertaking construction until the public improvement, upon completion, has been inspected by the City Engineer for compliance with City specifications, and accepted by the City. Nothing shall be construed to limit the liability of the City, its employees or agents, for its or their own acts in regard to any improvement between commencement of contracts and acceptance by the City. (Ord. 4020; 1968 Code §12-95; Ord. 91-36; Ord. 01-42)

PART 2 LOCAL IMPROVEMENT DISTRICT FUNDING

SECTION:

3.5.201: Issuance Of Bonds

3.5.202: Form Of Bond And Payment From Assessments

3.5.203: Bonds Not Debt Of City

3.5.204: Bonds Not Invalid Due To Defect

3.5.205: Bond Maturities

3.5.206: Bonds Negotiable

3.5.207: Bonds, Registration; Change Of City Officers

3.5.208: Use Of Bond Proceeds

3.5.209: Call Bonds; Procedure

3.5.210: Excess Funds

3.5.211: City May Pay Preliminary Expenses; Repayment From Bond Proceeds

3.5.212: Loans

3.5.201: ISSUANCE OF BONDS:

   A.   Public improvement bonds of the City may be issued to pay for local improvements ordered by City Council under the provisions of this chapter.

   B.   These bonds may be sold in any manner approved by the City Council. Bonds and bond proceeds may be used for defraying the costs for services, labor, supplies and materials acquired by the City in constructing the improvements and administering the local improvement district.

   C.   Bonds may be delivered to the contractor or contractors in payment for all or part of the amounts due to the contractor or contractors. Bonds shall be accepted for the bond's principal amount. The Council may require in the advertising for bids or RFPs and in the contract documents that the contractor must accept bonds in payment of all or part of the contract price. (Ord. 2771; 1968 Code §12-62; Ord. 82-34; Ord. 01-42)