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HomeMy WebLinkAbout07724ORDINANCE NO. 7724 AN ORDINANCE AMENDING TITLE I OF THE PUEBLO MUNICIPAL CODE BY THE ADDITION OF CHAPTER 11 THERETO RELATING TO THE SALE, TRANSFER AND LEASE OF REAL AND PERSONAL PROPERTY BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: (brackets indicate matter being deleted, underscoring indicates new matter being added) SECTION 1 Title I of the Pueblo Municipal Code is hereby amended by the addition of the following Chapter 11 relating to the sale, transfer and lease of real and personal property: Chapter 11 Sale, Purchase and Lease of Real and Personal Property Sec. 1 -11 -1. Legislative intent. All matters referred to in this Chapter are expressly and specifically declared to be local and municipal matters under Article XX of the Colorado Constitution. This Chapter is adopted pursuant to the provisions of said Article XX and it is hereby intended that the provisions of this Chapter shall supercede and preempt all Colorado statutory provisions, if any, in conflict herewith. 11 -11 -2. Definitions. As used in this Chapter, unless the context otherwise requires: (a) "Lease purchase agreement" means any installment purchase agreement for the purchase of real or personal property which requires payments during more than one fiscal year or any agreement for the lease or rental of real or personal property which requires payments during more than one fiscal year and under which title to the property may be purchased for a specified purchase price or may be transferred at the end of the term for nominal or no additional r.nnsidern inn "Management agreement" means any agreement with a third person to manage and operate any real property, together with facilities thereon, owned by the City. Sec 1 -11 -3. Powers of the City Council. (a) The City Council has the power by ordinance to sell and dispose of public buildings, real property used for park purposes, or other real property used for any governmental purpose upon such terms and conditions as the City Council may determine provided the City Council finds and determines that such sale and disposition is in the best interest of the City. to dedicate or abandon streets, alleys or other public highways. The City Council has the power by resolution adopted at any regular meeting of the City Council, upon such terms and conditions as the City Council may determine: to sell and dispose of any real or personal property, or any combination thereof, owned by the City, including land acquired from the federal government, except real property used for any governmental purpose which shall be by ordinance. to lease any real or personal property, or any combination thereof, together with facilities thereon, owned by the City, including entering into management agreements therefor. to purchase, acquire or lease real or personal property, or any combination thereof, for any governmental or proprietary purpose. to enter into lease- purchase agreements in order to provide necessary land, buildings, equipment and other property for any governmental or proprietary purpose, provided. however. that a. payments required under any lease- purchase agree -ment in any subsequent fiscal year shall be contingent upon funds for that purpose being appropriated and budgeted. b. the duration of any lease- purchase agreement, including all optional renewal terms, shall not exceed the weighted average useful life of the assets being financed. In the case of a lease- purchase agreement involving both real property and other property, the lease- purchase agreement shall provide that the real Property involved shall be amortized over a period not to exceed its weighted average useful life and the other property shall be separately amortized over a period not to exceed its weighted average useful life. This provision shall not prevent the City from releasing property from a lease- purchase agreement pursuant to an amortization schedule reflecting the times when individual pieces of property have been amortized. (c) The provisions of section 1- 11 -3(b) above shall not prevent the City Council from exercising any of the powers therein specified by ordinance. Sec. 1 -11 -4. Prior transactions. All sales. purchases. transfers. deeds of convevance. and leases of real or personal property, or any combination thereof, including lease- purchase agreements and management agreements approved by City Council in compliance with the provisions of this Chapter on or before January 28, 2008, and executed by the President of the City Council. or in his or her absence or disabilitv. by the Vice - President of the Citv Council. are herebv confirmed and ratified SECTION 2 If any provision of this Ordinance or the application thereof to any person or circumstances is held invalid, such invalidity shall not affect other provisions or applications of this Ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this Ordinance are declared to be severable. SECTION 3. This Ordinance shall become effective upon final passage and approval. INTRODUCED January 14, 2008 BY Judy Weaver Councilperson or-a. 1 [ ID � 0 Background Paper for Proposed ORDINANCE DATE: January 14, 2008 DEPARTMENT: Law Department TITLE AGENDA ITEM # AN ORDINANCE AMENDING TITLE I OF THE PUEBLO MUNICIPAL CODE BY THE ADDITION OF CHAPTER 11 THERETO RELATING TO THE SALE, TRANSFER AND LEASE OF REAL AND PERSONAL PROPERTY ISSUE Should the City Council approve the ordinance? RECOMMENDATION Approve the ordinance. BACKGROUND The practices and procedures of the City relating to sale, purchase and lease of real and personal property including lease- purchase and management agreement should be codified and included in the Pueblo Municipal Code. Chapter 11 of Title I authorizes the City Council by Ordinance to sell and dispose of public buildings and real property used for any governmental purpose and to dedicate or vacate streets. All other sales, purchases and leases of real or personal property including lease- purchase and management agreement may be approved by Resolution. The sale, purchase and lease of real and personal property owned or acquired by the City are declared to be local and municipal matters. Chapter 11 of Title I combines the City's practices and procedures in one location for easy reference and consistent use. FINANCIAL IMPACT None.