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Howard moved that Council approve Resolution No. 54, Series 1992, <br />with the following conditions: <br /> <br />1.) <br /> <br />The Special Review Use be restricted to the St. Louis <br />Church organization; <br /> <br />2.) <br /> <br />the use be allowed for 24 months, with possibility of <br />extension, but no guarantee of extension; <br /> <br />3.) <br /> <br />the use terminate upon completion of the new St. Louis <br />daycare center west of Grant; and <br /> <br />4.) <br /> <br />the applicant replace the old driveway ramp with vertical <br />curb and gutter. <br /> <br />Seconded by Hornbostel. <br />7-0 vote. <br /> <br />Roll call was taken. <br /> <br />Motion passed by a <br /> <br />ORDINANCE NO. 1081, SERIES 1992 - PROHIBITING FINANCING OF REAL OR <br />PERSONAL PROPERTY FOR GOVERNMENTAL OR PROPRIETARY PURPOSES THROUGH <br />LEASE-PURCHASE OR LONG-TERM I~ASE AGREEMENTS - 1ST READING - SET <br />PUBLIC HEARING (9/1/92) <br /> <br />Griffiths read by title only Ordinance No. 1081, Series 1992, "An <br />ordinance prohibiting financing of real or personal property for <br />governmental or proprietary purposes through lease-purchase or <br />long-term lease agreements." <br /> <br />Susan Griffiths, City Attorney, commented that Council requested <br />that this Ordinance be drafted to reflect various discussions among <br />the Council. The essence of it is to do exactly as the Title says, <br />to prohibit financing of real or personal property through lease- <br />purchase agreements or long-term lease agreements. It could be <br />amended at some time in the future, but it would take action by <br />ordinance of the City Council to amend it. It exempts from the <br />application of the Ordinance any lease-purchase or long-term lease <br />agreements that are currently in effect in the City. It also <br />exempts future such agreements, which are entered into for the <br />purposes of supplying water. That's an exemption that's consistent <br />with the Colorado Constitution, which exempts such kinds of <br />financing from the long-term debt provisions of the Constitution. <br /> <br />Howard thought that Council had a provision that was similar to <br />this already in the City's Financial Handbook. <br /> <br />Davidson stated that there is one in the Financial Policy that is <br />not an ordinance. Therefore, nothing really prevents anyone from <br />violating it, which has been frequently done in the past. He felt <br />that the passage of the new Bond Issue to refinance the lease- <br />purchases allows the City to get out of the lease-purchase <br />business. Lease-purchases were an effort by prior Councils to get <br />around the requirement that a public vote be held before the City <br /> <br />6 <br /> <br /> <br />