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Home My WebLink About09372 ORDINANCE NO. 9372 AN ORDINANCE LEVYING AND CERTIFYING THE SOUTHPOINTE SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY MADE IN 2018 FOR THE 2019 BUDGET YEAR WHEREAS, the SouthPointe 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 SouthPointe Special Improvement Maintenance District as certified by the Pueblo County Assessor is $4,265,649, 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 $21,328; NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The City Council as the governing body of the SouthPointe 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 SouthPointe Special Improvement Maintenance District on the assessment date. 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 SouthPointe 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 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 5. 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 6. 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-4 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 SOUTHPOINTE 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 SouthPointe 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 SouthPointe Special Improvement Maintenance District, for the purpose of meeting maintenance expenses of the District, through this Ordinance sets and levies a tax of 5.000 mills upon taxable real property located within the SouthPointe Special Improvement Maintenance District. FINANCIAL IMPLICATIONS: By approval of the voters within the District, the levy is fixed at 5.000 mills. It is estimated to generate $21,328 in property taxes on an assessed valuation of $4,265,649. BOARD/COMMISSION RECOMMENDATION: Approval of this Ordinance. STAKEHOLDER PROCESS: The SouthPointe Special Improvement Maintenance District Advisory Committee met in June of 2018 to discuss the 2019 operations and budget of the District. The Advisory Committee recommended the mill levy remain at 5.000 mills for 2018 to be collected in 2019. ALTERNATIVES: Not applicable. RECOMMENDATION: Approval of this Ordinance. Attachments: Proposed Ordinance.