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HomeMy WebLinkAbout10328ORDINANCE NO. 10328 AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY MADE IN 2022 FOR THE 2023 BUDGET YEAR WHEREAS, the Bandera Boulevard Special Improvement Maintenance District's budget for fiscal year 2023 has been prepared and approved; and WHEREAS, the 2022 net assessed valuation of all taxable property in the Bandera Bouldvard Special Improvement Maintenance District as certified by the Pueblo County Assessor is $7,960,981; and WHEREAS, the tax revenue for the fiscal year 2023 is estimated to be $39,805; NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: SECTION 1. The City Council 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 2023. 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 Bandera Boulevard Special Improvement Maintenance District on the assessment date: Gross Mill Levy 5.000 mills SECTION 3. The City Clerk 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 2023 fiscal year spending. All 2023 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 authorized to perform any and all acts consistent with the intent of this Ordinance to implement the policies and procedures described herein. SECTION 6. This Ordinance shall become effective on the date of final action by the Mayor and City Council. Action by City Council: Introduced and initial adoption of Ordinance by City Council on November 14, 2022. Final adoption of Ordinance by City Council on November 28, 2022 . President of City Council Action by the Mayor: ☒ Approved on December 5, 2022 . □ Disapproved on based on the following objections: _ Mayor Action by City Council After Disapproval by the Mayor: □ Council did not act to override the Mayor's veto. □ Ordinance re-adopted on a vote of , on □ Council action on _______ failed to override the Mayor’s veto. President of City Council ATTEST City Clerk City Clerk's Office Item # R2 Background Paper for Proposed Ordinance November 14, 2022 COUNCIL MEETING DATE: TO: President Heather Graham and Members of City Council CC: Mayor Nicholas A. Gradisar VIA: Marisa Stoller, City Clerk FROM: Nicholas Gradisar, Mayor SUBJECT: AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY MADE IN 2022 FOR THE 2023 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 2023 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 5.000 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. The mill levy of 5.000 mills is estimated to generate $39,805 in property taxes on an assessed valuation of $7,960,981. BOARD/COMMISSION RECOMMENDATION: Approval of this Ordinance. STAKEHOLDER PROCESS: The Bandera Boulevard Special Improvement Maintenance District Advisory Committee met in October of 2022 to discuss the 2023 operations and budget of the District. The Advisory Committee recommended the mill levy remain at 5.000 mills with no temporary credit, for 2022 to be collected in 2023. ALTERNATIVES: Not applicable. RECOMMENDATION: Approval of this Ordinance. ATTACHMENTS: None