HomeMy WebLinkAbout08809ORDINANCE NO. 8809
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA
BOULEVARD SPECIAL IMPROVEMENT MAINTENANCE
DISTRICT PROPERTY TAX MILL LEVY MADE IN 2014 FOR
THE 2015 BUDGET YEAR AND RESCINDING ORDINANCE NO.
8792
WHEREAS, the Bandera Boulevard Special Improvement Maintenance District’s budget
for fiscal year 2015 has been prepared and approved, and
WHEREAS, the 2014 net assessed valuation of all taxable property in the Bandera
Boulevard Special Improvement Maintenance District as certified by the Pueblo County
Assessor is $6,623,115, and
WHEREAS, the net mill levy of 3.000 mills is expected to generate the amount of
$19,869 in property tax revenue. The maximum allowed property tax revenue for fiscal year
2014 pursuant to section 20(7) of Article X of the Colorado Constitution is estimated to be
$33,115. 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 2015.
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 2014 fiscal year spending. All 2014 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.
Due to the time constraints associated with certifying mill levies to the Board of
Commissioners and the requirement that the Certificate of Tax Levies be filed on or before
December 15, 2014, good cause exists for the passage of this Ordinance as an emergency
ordinance pursuant to Section 3-20 of the City Charter.
SECTION 7.
Ordinance No. 8792, passed by the City Council on November 24, 2014, shall be and
hereby is rescinded.
SECTION 8.
The officers and the staff of the City are directed and authorized to perform any and all
acts consistent with the intent of this Ordinance to effectuate the policies and procedures
described herein.
SECTION 9.
This Ordinance shall become effective upon final passage on December 8, 2014.
INTRODUCED: December 8, 2014
BY: Ami Nawrocki
PASSED AND APPROVED: December 8, 2014
City Clerk’s Office Item # S-1
Background Paper for Proposed
Emergency Ordinance
COUNCIL MEETING DATE: December 8, 2014
TO: President Stephen G. Nawrocki and Members of City Council
CC: Sam Azad, City Manager
VIA: Gina Dutcher, City Clerk
FROM: Daniel C. Kogovsek, City Attorney
SUBJECT: AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD
SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL
LEVY MADE IN 2014 FOR THE 2015 BUDGET YEAR AND RESCINDING
ORDINANCE NO. 8792
SUMMARY:
The attached 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 2015
budget. The mill levy is set at 5 mills with a temporary tax credit of 2 mills, resulting in a 3 mill
assessment.
PREVIOUS COUNCIL ACTION:
Ordinance No. 8792, which originally assessed a mill levy of at 5 mills with a temporary tax
credit of 2 mills, resulting in a 3 mill assessment was passed by Council on first reading on
November 10, 2014. On November 24, 2014, on second reading, Ordinance No. 8792 was
amended to provide for a 1 mill temporary tax credit and a net assessment of 4 mills.
BACKGROUND:
This Ordinance restores the temporary tax credit of 2 mills which will result in a net assessment
of 3 mills.
FINANCIAL IMPLICATIONS:
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 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 $ 19,869 in property taxes on an assessed valuation of $6,623,115.
BOARD/COMMISSION RECOMMENDATION:
Approval of this Ordinance.
STAKEHOLDER PROCESS:
The Bandera Boulevard Special Improvement Maintenance District Advisory Committee met on
September 5, 2014 to discuss the 2015 operations and budget of the District. The Advisory
Committee recommended the mill levy remain at 5 mills with a temporary credit of 2 mills for a
total mill levy of 3 mills for 2014 collected in 2015.
ALTERNATIVES:
Not applicable.
RECOMMENDATION:
Approval of this Ordinance.
Attachments:
Proposed Ordinance.