HomeMy WebLinkAbout05810ORDINANCE NO. 5810
AN ORDINANCE AMENDING CHAPTER 4, TITLE XIV OF THE 1971
CODE OF ORDINANCES TO REALLOCATE THE USE OF THE THREE
AND THREE- TENTHS PERCENT PORTION OF THE CITY'S SALES AND
USE TAX REVENUES PRESENTLY BEING RETAINED BY THE
RETAILERS WHO COLLECT SUCH TAX ON BEHALF OF THE CITY;
DEDICATING THE REVENUES FROM SUCH THREE AND THREE -
TENTHS PERCENT PORTION OF THE CITY'S SALES AND USE TAX TO
THE PAYMENT OF THE OPERATION AND MAINTENANCE EXPENSES
OF A PROPOSED CIVIC CENTER AND HOTEL COMPLEX WITHIN THE
BOUNDARIES OF THE URBAN RENEWAL AUTHORITY OF PUEBLO,
COLORADO, TO THE PAYMENT OF THE PRINCIPAL OF, PREMIUM, IF
ANY, AND INTEREST ON REVENUE BONDS OF THE URBAN RENEWAL
AUTHORITY OF PUEBLO, COLORADO ISSUED IN THE AGGREGATE
PRINCIPAL AMOUNT OF $9,500,000 TO FINANCE SUCH CIVIC CENTER
AND HOTEL COMPLEX AND OTHER IMPROVEMENTS, OR ANY BONDS
ISSUED TO REFINANCE SUCH BONDS, AND /OR TO THE
REIMBURSEMENT OF RETAILERS FOR THEIR COSTS INCURRED IN
COLLECTING AND REMITTING THE SALES AND USE TAX REVENUES
TO THE CITY; CREATING A SPECIAL FUND FOR THE DEPOSIT OF
SUCH REVENUES; FINDING AND DETERMINING THAT THE
EXPENDITURE OF SUCH REVENUES FOR A CIVIC CENTER AND
HOTEL COMPLEX IS A PUBLIC PURPOSE AND MUNICIPAL FUNCTION;
AND PROVIDING OTHER MATTERS RELATING THERETO
BE IT ORDAINED BY THE PEOPLE OF PUEBLO, THAT: (Brackets indicate matter
deleted; underscoring indicates matter added)
SECTION 1
The first sentence of Section 86, Chapter 4, Title XIV of the 1971 Code of Ordinances
of the City of Pueblo (Section 12 of Ordinance No. 2189 approved by a vote of the People on
November 8, 1955, as amended by Ordinances Nos. 3160, 3474, 4235, 5170, 5314 and 5668)
is hereby amended to read as follows:
Every retailer, also herein called vendor, shall, irrespective of the provisions of
Section 14 -4 -85 be liable and responsible for the payment of an amount equivalent
to the rate of tax imposed by Section 14 -4 -85 of this Chapter on all sales made
by him of commodities or services specified in Section 14 -4 -61 and shall, before
the twentieth day of each month, make a return to the Director of Finance for the
preceding calendar month and remit an amount equivalent to the rate of tax
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imposed by Section 14 -4 -85 of this Chapter on such sales to the Director of
Finance [, less three and three - tenths percent of such tax to cover the vendor's
expense in the collection and remittance of such tax] .
SECTION 2
Chapter 4, Title XIV of the 1971 Code of Ordinances of the City of Pueblo (a portion
of Ordinance No. 2189 approved by a vote of the People on November 8, 1955, as amended by
Ordinances Nos. 3160, 3474, 4235, 5170, 5314 and 5668) is hereby amended by the addition
of the following new section:
14 -4 -17: COLLECTION FEES
Notwithstanding Sections 14 -4 -1 and 14 -4 -85 of this Chapter, three and
three- tenths percent of the revenues derived from the taxes imposed by this
Chapter shall be deposited and placed in a special fund hereby created pursuant
to Section 7 -21 of the Charter of the City to be known as the "Collection Fee
Fund" (the "Collection Fee Fund "). The moneys in the Collection Fee Fund shall
be used solely for one or more of the following purposes in such amounts and
proportions as the City Council shall determine: (1) paying the he operation and
maintenance expenses of a civic center and hotel complex within the Urban
Renewal Authority of Pueblo Colorado (2) paving the principal of premium
if any, and interest on revenue bonds of the Urban Renewal Authority of Pueblo
Colorado issued to finance the civic center and hotel complex and other
improvements, or any bonds issued to refinance such bonds. and /or (3)
reimbursing retailers for their costs incurred in collecting and remitting the sales
and use tax revenues to the City. The City Council is authorized to pledge
irrevocably all or any part of the moneys in the Collection Fee Fund for the
purposes set forth in clauses (1) and /or (2) above.
SECTION 3
The People of Pueblo do hereby find, determine and declare that the expenditures of
revenues from the three and three- tenths percent of the City's sales and use tax revenues
deposited to the Collection Fee Fund established pursuant to Section 14 -4 -17 of Chapter 4, Title
XIV of the 1971 Code of Ordinances of the City of Pueblo (Ordinance No. 2189 approved by
a vote of the People on November 8, 1955, as amended by Ordinance Nos. 3160, 3474, 4734,
5170, 5314 and 5668) will promote the public peace, health, safety and welfare and the
expenditure of such revenues for the purposes set forth in said Section 14 -4 -17 is a public
purpose and municipal function notwithstanding such expenditure may, directly or indirectly,
aid, assist or benefit private persons, corporations or other entities.
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SECTION 4
All ordinances relating to sales and use taxes heretofore adopted, amended or
implemented 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.
SECTION 5
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.
SECTION 6
If any section, subsection, paragraph, clause or other provision of this Ordinance for any
reason is invalid or unenforceable, the invalidity or unenforceability of such section, subsection,
paragraph, clause or other provision shall not affect any of the remaining provisions of this
Ordinance.
SECTION 7
This Ordinance shall become effective upon majority vote in favor thereof by the eligible
electors of Pueblo voting thereon at the General Municipal Election to be held Tuesday,
November 2, 1993.
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