The purpose of this chapter is to implement Charter Chapter
XI, which was enacted by the voters via the initiative process. Because the language added to the Charter contains certain ambiguities, the City Commission, in consultation with the proponents and drafters of the initiative, adopts the following provisions to clarify how Charter Chapter
XI is to be implemented.
(Ord. 1215-A § 1, 2017)
For purposes of this chapter and Charter Chapter
XI, unless the context requires otherwise, the following definitions apply:
"City or any of its agencies"
means the City of Warrenton and any of its constituent departments,
boards, or commissions but it does not include separate legal entities
such as the Warrenton Urban Renewal Agency.
"Combined tangible asset value"
means the amount of money that a City-owned system, operation
or infrastructure would bring if offered for sale by the City and
was bought by another who desired but was not obliged to buy the system,
operation or infrastructure. The Commission may determine this amount
through the use of appraisals or other commonly used valuation methods.
"Gross value of any income stream"
means the total amount of money the City generates on an
annual basis in exchange for providing a service to the public through
the use of a system, operation or infrastructure.
"Leasehold interest"
means any temporary right to exclusive possession of City-owned real property for a stated and definite period of time that the City provides to another person or entity through a lease, provided that for the purposes of Charter Chapter
XI, a leasehold interest does not include:
1.
Any lease of a term less than 25 years;
2.
Any lease which includes an option or similar provision, or
any combination thereof, which, if exercised, would cause the overall
term to be less than 25 years; or
3.
Any lease containing a renewal provision or provisions, which,
if exercised, would cause the overall term of the lease to be less
than 25 years.
"Real market value"
means:
1.
For real property, the real market value is equal to the amount
of money that the property would bring if offered for sale by one
who desired but was not obligated to sell, and was bought by one willing
but not obliged to buy. The Commission may determine this amount through
the use of appraisals or other commonly used real property valuation
methods such as the expert opinion of a realtor. Real property the
City may not sell due to statutory or other restrictions, such as
a street vacation or real property with a title that contains a reversion
clause if no longer used for a public purpose has no real market value.
2.
For leasehold interests, the real market value is equal to the
amount of money that the City as lessor could acquire for the leasing
of City-owned real property to another who desired but was not obliged
to lease the real property. This amount will be calculated by multiplying
the dollar value of the monetary payments the lessee is obligated
to pay per term by the number of terms in the lease.
"System, operation, or infrastructure"
means the combined parts of a total and complete framework
of either personal property or improvements to real property when
such personal property or improvements to real property are owned
and used by the City to supply a public service. Examples of a system,
operation or infrastructure include but are not limited to bridges,
roadways, water and sewer systems, electrical systems, dams and sanitation
equipment. A system, operation or infrastructure does not include
any individual or distinct parts of a system, operation or infrastructure
such as a single garbage truck that is part of the City's sanitation
system or a pump or pipe that is part of the City's water or sewer
systems. Such individual or distinct parts would constitute tangible
physical assets.
"Tangible physical asset"
means City-owned personal property but does not include real
property or any system, operation or infrastructure.
"Value"
means:
1.
For any tangible physical asset, the value is equal to the amount
of money that a City-owned tangible physical asset would bring if
offered for sale by the City and was bought by another who desired
but was not obliged to buy the tangible physical asset. The Commission
may determine this amount through the use of appraisals or other commonly
used valuation methods.
2.
For any contractual right or interest, the value is equal to
the amount of money that the contractual right or interest would bring
if offered for sale by the City and was bought by another who desired
by was not obliged to buy the contractual right or interest. The Commission
may determine this amount through the use of appraisals or other commonly
used valuation methods.
(Ord. 1215-A § 1, 2017)
For the purposes of calculating the value of $100,000.00 in
2014 dollars, the City shall increase $100,000.00 by three percent
annually until the applicable year in question.
(Ord. 1215-A § 1, 2017)
The invalidity of a section or subsection of this chapter shall
not affect the validity of the remaining sections or subsections.
(Ord. 1215-A § 1, 2017)