HomeMy WebLinkAbout05314ORDINANCE NO. 5314
AN ORDINANCE AMENDING CHAPTER 4, TITLE XIV OF
THE 1971 CODE OF ORDINANCES RELATING TO SALES
AND USE TAX; PROVIDING FOR AN INCREASE IN THE
SALES AND USE TAX RATE BY ONE -HALF PERCENT
FROM THREE PERCENT TO THREE AND ONE -HALF
PERCENT FOR A FIVE YEAR PERIOD; PLEDGING THE
REVENUES FROM SUCH SALES AND USE TAX INCREASE
FOR CAPITAL IMPROVEMENT PURPOSES AT PUEBLO
MEMORIAL AIRPORT; AND PROVIDING FOR OTHER
MATTERS RELATING THERETO
BE IT ORDAINED BY THE PEOPLE OF PUEBLO, COLORADO, that:
(brackets indicate material deleted, underscoring indicates
material added)
S FrT T C)N 1 .
Subsections (b) and (d), Section 85, Chapter 4, Title XIV of
the 1971 Code of Ordinances (a portion of Section 13 of Ordinance
No. 2189 approved by vote of the People on November 8, 1955, as
amended by Ordinance Nos. 3160, 3474, 4235 and 5170) is hereby
amended to read as follows:
(b) Notwithstanding the three percent rate provisions
of paragraph (a) of this Section 14 -4 -85 for the period
January 1, [1985) 1987 through December 31, [1986] 1991, the
rate of tax imposed pursuant to this Section shall be three
and one -half percent.
(d) The additional one -half percent sales and use tax
imposed by Section 14- 4 -63(a) and 14- 4 -85(b) of this Chapter,
together with interest (thereon) and penalties with respect
thereof, shall, upon collection and receipt by the City, be
deposited and placed in a special fund to be known as "Sales
and Use Tax Capital Improvement Fund" to be used solely for
capital improvement purposes at Pueblo Memorial Airport
including, without limitation, the aviation, commercial and
industrial areas thereof. The City Council.may, in anticipa-
tion of collection of the revenues from the sales and use tax
increase, issue revenue bonds payable solely from the Sales
and Use Tax Capital Improvement Fund for the purpose of
financing such capital improvements at Pueblo Memorial
Airport. The City Council may transfer the income from the
investment of moneys in the Sales and Use Tax Capital
Improvement Fund to the Capital Improvement Fund created
under Section 7 -16 of the Charter.
SECTION 2
Subsection (a) of Section 63 of Chapter 4, Title XIV of the
1971 Code of Ordinances (a portion of Section 20 of Ordinance No.
2189 approved by vote of the People on November 8, 1955, as
amended by Ordinance Nos. 3160, 3474, 4734 and 5170) is amended to
read as follows:
(a) Notwithstanding the three percent rate provision of
Section 14 -4 -63 of this Chapter, for the period January 1,
[1985) 1987 through December 31, [1986) 1991 the rate of tax
imposed pursuant to this Section shall be three and one -half
percent. s
SECTION 3
All ordinances relating to sales and use taxes heretofore
adopted, amended or implemented, including without limitation
Ordinance Nos. 2189, 3160, 3450, 3474, 4235, 4573, 4734, 5022 and
5170 shall remain in full force and effect except as the same have
been previously amended or repealed or as same may be amended by
this Ordinance.
grr'PTnM d _
All ordinances, or parts thereof, inconsistent herewith are
hereby repealed to the extent of such inconsistency. This
repealer shall not be construed to revive any ordinance, or part
thereof, heretofore repealed.
CRrTTnM r%-
If any section, subsection, paragraph, clause or other pro-
vision of this Ordinance for any reason is invalid or unenforce-
able, the invalidity or unenforceability of such section,
subsection, paragraph, clause or other provision shall not affect
any of the remaining provisions of this Ordinance.
Ewa
CFrTTnN A_
This Ordinance become effective at 12:00 o'clock A.M.
(midnight) December 31, 1986 upon majority vote in favor thereof
of the qualified electors of Pueblo voting thereon at the General
Election to be held Tuesday, November 4, 1986.
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