HomeMy WebLinkAbout09371
ORDINANCE NO. 9371
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA
BOULEVARD SPECIAL IMPROVEMENT MAINTENANCE
DISTRICT PROPERTY TAX MILL LEVY MADE IN 2018 FOR THE
2019 BUDGET YEAR
WHEREAS, the Bandera Boulevard Special Improvement Maintenance District’s budget
for fiscal year 2019 has been prepared and approved, and
WHEREAS, the 2018 net assessed valuation of all taxable property in the Bandera
Boulevard Special Improvement Maintenance District as certified by the Pueblo County Assessor
is $6,604,513, and
WHEREAS, the maximum allowed property tax revenue for the fiscal year 2019 pursuant
to section 20(7) of Article X of the Colorado Constitution is estimated to be $19,814; 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 2019.
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 increases to the District’s net fund balance shall constitute and be considered “reserve
increases” and therefore a part of the district’s 2018 fiscal year spending. All 2018 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.
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 7.
This Ordinance shall become effective upon final passage.
INTRODUCED November 12, 2018
BY: Ed Brown
MEMBER OF CITY COUNCIL
APPROVED:
PRESIDENT OF CITY COUNCIL
ATTESTED BY:
ACTING CITY CLERK
PASSED AND APPROVED: November 26, 2018
City Clerk’s Office Item # R-3
Background Paper for Proposed
Ordinance
COUNCIL MEETING DATE: November 12, 2018
TO: President Christopher A. Nicoll and Members of City Council
CC: Sam Azad, City Manager
VIA: Brenda Armijo, Acting City Clerk
FROM: Sam Azad, City Manager
SUBJECT: AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD
SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL
LEVY MADE IN 2018 FOR THE 2019 BUDGET YEAR
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 2019
budget.
PREVIOUS COUNCIL ACTION:
None.
BACKGROUND:
The City Council as the governing body of the Bandera Boulevard Special Improvement
Maintenance District, for the purpose of meeting maintenance and reserve expenses of the
District, through this Ordinance sets and levies a tax of 3.000 mills upon taxable real property
located within the Bandera Boulevard Special Improvement Maintenance District.
FINANCIAL IMPLICATIONS:
By approval of the voters within the District, the levy is fixed at 5.000 mills. However, the Bandera
Boulevard Special Improvement Maintenance District Advisory Committee 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 $19,814 in property taxes on an assessed
valuation of $6,604,513.
BOARD/COMMISSION RECOMMENDATION:
Approval of this Ordinance.
STAKEHOLDER PROCESS:
The Bandera Boulevard Special Improvement Maintenance District Advisory Committee met in
September of 2018 to discuss the 2019 operations and budget of the District. The Advisory
Committee recommended the mill levy remain at 5.000 mills, with a temporary credit of 2.000
mills for a net mill levy of 3.000 for 2018 to be collected in 2019.
ALTERNATIVES:
Not applicable.
RECOMMENDATION:
Approval of this Ordinance.
Attachments:
Proposed Ordinance.