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Background Paper for Proposed
ORDINANCE
DATE: AGENDA ITEM # R-5
NOVEMBER 11, 2013
DEPARTMENT:
OFFICE OF THE CITY MANAGER
SAM AZAD, CITY MANAGER
JENNY EICKELMAN, INTERIM DEPUTY CITY MANAGER
TITLE
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD
SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2013 FOR THE 2014 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
2014 budget.
RECOMMENDATION
Approval of the Ordinance.
FINANCIAL IMPACT
By approval of the voters within the District, the levy is fixed at 5.000 mills. However,
the advisory committee of the District has recommended that a temporary credit of
2.000 mills be given to reduce the amount of revenue being collected. There is
currently a surplus fund balance in excess of anticipated needs plus contingencies. The
net mill levy of 3.000 mills is estimated to generate $19,073 in property taxes on an
assessed valuation of $6,357,555.
ORDINANCE NO. 8664
AN ORDINANCE LEVYING AND CERTIFYING THE
BANDERA BOULEVARD SPECIAL IMPROVEMENT
MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2013 FOR THE 2014 BUDGET YEAR
WHEREAS, the Bandera Boulevard Special Improvement Maintenance District’s
budget for fiscal year 2014 has been prepared and approved, and
WHEREAS, the 2013 net assessed valuation of all taxable property in the
Bandera Boulevard Special Improvement Maintenance District as certified by the
Pueblo County Assessor is $6,357,555, and
WHEREAS, the net mill levy of 3.000 mills is expected to generate the amount of
$19,073 in property tax revenue. The maximum allowed property tax revenue for fiscal
year 2013 pursuant to section 20(7) of Article X of the Colorado Constitution is
estimated to be $31,788; 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 2014.
SECTION 2.
A temporary tax credit expressed in mill levy equivalents of 2.000 is hereby
approved and certified.
SECTION 3.
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
Temporary Property Tax Credit -2.000 mills
Net Mill Levy 3.000 mills
SECTION 4.
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 5.
All increase to the District’s net fund balance shall constitute and be considered
“reserve increases” and therefore a part of the district’s 2013 fiscal year spending. All
2013 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 6.
This Ordinance shall become effective upon final passage.
INTRODUCED: November 11, 2013
BY: Ami Nawrocki
PASSED AND APPROVED: November 25, 2013