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e ~ <br />Rev. 4/84 <br />8_~l_Revenue_Securities_ <br />ATTACHMENT B <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 avai 1 abl a proce sales ta;;, use tax , or <br />other excise tax, or; <br />d. Any part or combi n' ~s i rces. <br />B_ ~'? Industrial Revenue F3onds: <br />------------------------------ <br />Industrial revenue bonds may be issued as provided by Colorado <br />Statute. <br />8_=T_Bonds for_Special_or Local Improvements 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. TI-iis 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, for <br />ATTACHMENT B <br />8-B <br />