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HomeMy WebLinkAbout08196 ORDINANCE NO. 8196 AN ORDINANCE AMENDING CHAPTER 4, TITLE XIV OF THE PUEBLO MUNICIPAL CODE AUTHORIZING THE CITY TO USE A PORTION OF THE THREE AND THREE-TENTHS PERCENT (3.3%) OF THE CITY’S SALES AND USE TAX REVENUE WHICH WAS PREVIOUSLY RETAINED BY THE RETAILERS WHO COLLECT SUCH TAX, FOR THE PURPOSE OF REMODELING, RESTORING AND MAINTAINING THE HISTORIC MEMORIAL HALL, INCLUDING, WITHOUT LIMITATION, PAYING THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON REVENUE BONDS ISSUED BY THE URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO FOR SUCH PURPOSE OR ANY BONDS ISSUED TO REFINANCE SUCH BONDS, AND PROVIDING OTHER MATTERS RELATING THERETO BE IT ORDAINED BY THE PEOPLE OF PUEBLO, that: (Brackets indicate matter being deleted; underscoring indicates new matter added) SECTION 1. Section 14-4-17 of Chapter 4, Title XIV of the Pueblo Municipal Code (a portion of Ordinance No. 2189 approved by a vote of the People on November 8, 1955, as amended by Ordinance Nos. 3160, 3474, 4235, 4734, 5170, 5314, 5668 and 5810) is hereby amended to read as follows: Sec. 14-4-17. Collection Fees Notwithstanding Sections 14-4-1 and 14-4-85 of this Chapter, three and three-tenths percent (3.3%) of the revenues derived from the taxes imposed by this (the "Vendor Fees") Chapter shall be deposited and placed in a special fund hereby created pursuant to Section 7-21 of the Charter of the City to be known as and all Vendor the "Collection Fee Fund." The moneys in the Collection Fee Fund Fees now existing or generated in the future shall be used solely for one or more of the following purposes in such amounts and proportions as the City Council shall netthe Pueblo determine: (1) paying the operation and maintenance expenses of [ Convention Center a civic center and hotel complex within the Urban Renewal ] Authority of the City; (2) paying the principal of, premium, if any, and interest on [] Pueblo, Colorado revenue bonds of the Urban Renewal Authority of the City [ initial construction of the Pueblo Convention Center issued to finance the civic ] center and hotel complex and other improvements or any bonds issued to [] remodeling, restoring and maintaining the refinance such bonds; and/or (3) historic Memorial Hall including, without limitation, paying the principal of, premium, if any, and interest on revenue bonds of the Urban Renewal Authority of Pueblo, Colorado issued for such purpose or any bonds issued to refinance such bonds and/or (4) reimbursing retailers for the costs incurred in collecting and remitting the sales and use tax revenues to the City. The City Council is authorized to pledge irrevocably all or any part of the moneys in the [] ,and/or Collection Fee Fund for the purposes set forth in clauses (1) and/or(2) (3) above. SECTION 2. Section 14-4-17 of the Pueblo Municipal Code (Ordinance No. 2189 approved by a vote of the People on November 8, 1955, as amended by Ordinance Nos. 3160, 3474, 4235, 4734, 5170, 5314, 5668, and 5810), as amended, will promote the public peace, health, safety and welfare and the expenditure of such revenues for the purposes set forth in said Section 14-4-17 is a public purpose and municipal function notwithstanding such expenditure may, directly or indirectly, aid, assist or benefit private persons, corporations or other entities. SECTION 3. All ordinances relating to sales and use taxes heretofore adopted, amended or implemented shall remain in full force and effect except as the same have been previously amended or repealed or as the same may be amended by this Ordinance. SECTION 4. All ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent of such inconsistency. This repealer shall not be construed to revive any ordinance, or part thereof, heretofore repealed. SECTION 5. If any section, subsection, paragraph, clause or other provision of this Ordinance for any reason is invalid or unenforceable, the invalidity or unenforceability of such section, subsection, paragraph, clause or other provision shall not affect any of the remaining provisions of this Ordinance. SECTION 6. This Ordinance shall become effective upon majority vote in favor thereof by the registered electors of the City voting thereon at the Special Municipal Election to be held Tuesday, November 2, 2010. Election Results: November 2, 2010 YES 20,645 NO 10,510