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rr <br />L ~. <br />ATTACHMENT B <br />Rev. 4/84 <br />8.'?1 Revenue Securities: <br />------------------------ <br />~~ ~,:, <br />Fruita City Charter <br />The Council may, by ordinance, issue securities made payable <br />solely from revenues other than property ta:;es. These securities <br />include, but are not limited to, those payable from revenues <br />derived from: <br />a. The operation of the project or capital improvement <br />acquired or bettered with the proceeds; <br />b. Any other projects or improvements; <br />c. The available proceeds of any sales ta;:, use tax, or <br />other excise tax, or; <br />d. Any part or combi i n uch Sources. <br />B_2~_Industri al Revenue b ~,/ <br />---------------------- <br />Industrial revenue bonds may be issued as provided by Colorado <br />Statute. <br />B.C~ Bonds_for_Seecial_or_Local Im~rov_ements Districts: <br />-----'---- ----- --------------- <br />Subject to the approval of the owners of more than half of the <br />property in the area concerned the Council may, by ordinance, <br />contract for or construct special or local improvements within <br />specified districts of the City. The Council shall determine the <br />methods of assessing the cost of these improvements. The Council <br />may provide a special surplus and ,deficiency fund. This fund <br />shall provide separate adcounting for any surplus or deficiency <br />after the bonds for a district are completely paid. Any surplus <br />may be applied to any other special improvements. <br />In addition, in consideration of general benefits <br />conferred on the City at large from construction or installation <br />of improvements in special or local improvements districts, fur <br />ATTACHMENT B <br />8-S <br />