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HomeMy WebLinkAbout09949 ORDINANCE NO. 9949 BE IT ORDAINED BY THE PEOPLE OF THE CITY OF PUEBLO, that (brackets indicate matter being deleted; underscoring indicates new matter being added): SECTION 2. Section 14-4-85 of Chapter 4, Title XIV of the Pueblo Municipal Code, as amended, (a portion of Section 13 of Ordinance No. 2189 approved by a vote of the People on November 8, 1955, as amended by Ordinance Nos. 3160, 3474, 4235, 5170, 5314, 5668, 5810, 5978, 6683, 7464, 8197, 8902, 9141 and 9764) is hereby amended by the addition of the new sections (i) and (j) to read as follows: Sec. 14-4-85. Schedule; tax added to price. . . . (i) Notwithstanding the three percent or the three and one-half percent or the three and seven-tenths percent rate provisions of this Section, the rate of tax previously imposed pursuant to Subsections 14-4-85 (a), (e) and (g) shall be increased by one-half percent (.5%) for five years, from January 1, 2022 through December 31, 2026. Pursuant to the foregoing increase, the rate of tax imposed pursuant to this Section for the period January 1, 2022 through December 31, 2022, shall be four and two-tenths percent (4.2%). For the period January 1, 2023 through December 31, 2026, the rate of tax imposed pursuant to this Section shall be four percent (4.0%). (j) The revenues from the additional one-half percent (.5%) sales and use tax rate imposed by Sections 14-4-63(4) and 14-4-85(i) of this Chapter, including interest and penalties with respect thereof, shall upon collection and receipt by the City, be deposited and placed in a special fund hereby created to be known as the “Sales and Use Tax Streets, Roads and Bridges Projects Fund" (the "Fund"). The moneys in the Fund shall be used solely for the streets, roads and bridges in the City; SECTION 3. Section 14-4-63 of Chapter 4, Title XIV of the Pueblo Municipal Code (Section 20 of Ordinance No. 2189 approved by a vote of the People on November 8, 1955, as amended by Ordinance Nos. 3160, 3474, 4734, 5170, 5314, 5668, 5810, 5978, 6683, 7464, 8197, 8902, 9141 and 9764) is hereby amended by the addition of the new section (4) to read as follows: Sec. 14-4-63. Storage, consumption and use tax schedule. . . . (4) Notwithstanding the three percent or the three and one-half percent or the three and seven-tenths percent rate provisions of this Section, the rate of tax previously imposed pursuant to the above provisions of this Section shall be increased by one-half percent (.5%) for five years, from January 1, 2022 through December 31, 2026. Pursuant to the foregoing increase, the rate of tax imposed pursuant to this Section for the period January 1, 2022 through December 31, 2022, shall be four and two-tenths percent (4.2%). For the period January 1, 2023 through December 31, 2026, the rate of tax imposed pursuant to this Section shall be four percent (4.0%).