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defined in C.R.S. § 31-25-1203(2)or will be classified as commercial property <br /> as defined in C.R.S. § 31-25-1203(2) after such sale or lease, the buyer(s) or <br /> lessee(s), as the case may be, shall be required to execute and file a petition or <br /> petitions for inclusion with the City in accordance with the provisions of C.R.S. <br /> § 31-25-1220,requesting that such property be included within the boundaries <br /> of the Central City Business Improvement District ("District"). All property <br /> included within the District shall thereafter be subject to the levy of taxes for <br /> the payment of its proportionate share of any indebtedness of the District <br /> outstanding at the time of inclusion, as required by C.R.S. § 31-25-1220. This <br /> section shall not apply to any properties in Clear Creek County. <br /> Section 2. Section 8-7-130 of the Municipal Code is hereby amended to read in full as <br /> follows, with strikethrough text showing deletions and bold,underlined text showing additions: <br /> Sec. 8-7-130. City annexation or inclusion in Central City Business <br /> Improvement District. <br /> Prior to commencement of construction of any access improvements authorized <br /> pursuant to a validly issued access permit,the property owner(s)of the properly <br /> for which such access improvements are constructed, as well as the property <br /> owner(s) of any property directly or indirectly using such access (all of such <br /> property collectively, the "benefited property"): (1) shall, if such benefited <br /> property is not located within Clear Creek County, execute a petition or <br /> petitions for annexation containing all information required by the Municipal <br /> Annexation Act of 1965, C.R.S. §§ 31-12-101 et seq., and complying with all <br /> applicable provisions of Article I of Chapter 15 of the Municipal Code, <br /> requesting that the property described in the petition or petitions be included <br /> within the municipal boundaries of the City; and (2) may shall, if such <br /> benefited property is not located within Clear Creek County and is classified as <br /> commercial property as defined in C.R.S. § 31-25-1203(2)or will be classified <br /> as commercial property as defined in C.R.S. § 31-25-1203(2) once access is <br /> granted,be required to execute and file a petition or petitions for inclusion with <br /> the City in accordance with the provisions of C.R.S. § 31-25-1220, requesting <br /> that the property described in the petition or petitions be included within the <br /> boundaries of the District. All property included within the District shall <br /> thereafter be subject to the levy of taxes for the payment of its proportionate <br /> share of any indebtedness of the District outstanding at the time of inclusion, <br /> as required by C.R.S. § 31-25-1220. This Section shall not apply to any <br /> properties in Clear Creek County. <br /> 2 <br />