HomeMy WebLinkAbout08286ORDINANCE NO. 8286
AN ORDINANCE LEVYING AND CERTIFYING THE
BANDERA BOULEVARD SPECIAL IMPROVEMENT
MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2010 FOR THE 2011 BUDGET YEAR
WHEREAS, the Bandera Boulevard Special Improvement Maintenance District’s
budget for fiscal year 2011 has been prepared and approved, and
WHEREAS, the 2010 net assessed valuation of all taxable property in the
Bandera Boulevard Special Improvement Maintenance District as certified by the
Pueblo County Assessor is $7,296,179 and
WHEREAS, the maximum allowed property tax revenue for fiscal year 2011
pursuant to section 20(7)(c) or Article X of the Colorado Constitution is estimated to be
$36,481. NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
The City Council as the governing body of the Bandera Boulevard Special
Improvement Maintenance District, for the purpose of meeting maintenance expenses
of the District, does hereby make, set and levy a tax of 5.000 mills upon each dollar of
the total assessed valuation of all taxable real property located within the Bandera
Boulevard Special Improvement Maintenance District on the assessment date to meet
the cost of maintenance and reserve requirements for fiscal year 2011.
SECTION 2.
The City Council of the City of Pueblo does hereby fix and certify to the County
Commissioners of Pueblo County, Colorado the following mill levy imposed by this
Ordinance upon each dollar of the total valuation for assessment of all taxable real
property located within the Bandera Boulevard Special Improvement Maintenance
District on the assessment date:
Gross Mill Levy 5.000 mills
SECTION 3.
The City Clerk is hereby directed to deliver a certified copy of this Ordinance,
together with a Certificate of Tax Levies, form DLG 70, properly completed by the
Director of Finance, to the County Commissioners of Pueblo County, Colorado, and the
Division of Local Government immediately after passage of this Ordinance.
SECTION 4.
All increase to the District’s net fund balance shall constitute and be considered
“reserve increases” and therefore a part of the district’s 2010 fiscal year spending. All
2010 year-end balances shall constitute and be considered “reserves” and all
subsequent expenditures and transfers from such reserves shall be excluded from the
District’s fiscal year spending within the meaning of Article X, Section 20 (2)(e) of the
Colorado Constitution.
SECTION 5.
This Ordinance shall become effective upon final passage.
INTRODUCED: November 8, 2010
BY: Judy Weaver
COUNCILPERSON
PASSED AND APPROVED: November 22, 2010
Background Paper for Proposed
ORDINANCE
DATE: AGENDA ITEM # R-6
November 8, 2010
DEPARTMENT:
OFFICE OF THE CITY MANAGER
JERRY M. PACHECO, CITY MANAGER
JENNY M. EICKELMAN, ASSISTANT CITY MANAGER
TITLE
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD
SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2010 FOR THE 2011 BUDGET YEAR
ISSUE
This ordinance sets the mill levy for the property tax within the Bandera Boulevard
Special Improvement Maintenance District to be assessed and collected for use in the
2011 budget.
RECOMMENDATION
Approval of the Ordinance.
FINANCIAL IMPACT
By prior approval of the voters within the District, the levy is fixed at 5.000 mills. It is
estimated to generate $36,481 in property taxes on an assessed valuation of
$7,296,179.