HomeMy WebLinkAbout05978ORDINANCE NO. 5978
AN ORDINANCE AMENDING CHAPTER 4, TITLE XIV OF THE
1971 CODE OF ORDINANCES TO CONTINUE THE THREE AND
ONE -HALF PERCENT SALES AND USE TAX RATE FOR A FIVE
YEAR PERIOD FROM JANUARY 1, 1997 THROUGH DECEMBER
31, 2001; DEDICATING THE REVENUES FROM A ONE -HALF
PERCENT SALES AND USE TAX RATE FOR JOB CRATING
CAPITAL IMPROVEMENT PROJECTS WITHIN THE CITY AND
THE PUEBLO MEMORIAL AIRPORT BOUNDARIES; CREATING
A SPECIAL FUND FOR THE DEPOSIT OF SUCH REVENUES;
FINDING AND DETERMINING THAT THE EXPENDITURE OF SUCH
REVENUES FOR JOB CREATING CAPITAL IMPROVEMENT PROJECTS
IS A PUBLIC PURPOSE AND MUNICIPAL FUNCTION; AND
PROVIDING FOR OTHER MATTERS RELATING THERETO
BE IT ORDAINED BY THE PEOPLE OF PUEBLO, THAT: (brackets indicate matter deleted;
underscoring indicates matter added)
SECTION 1
Section 85, Chapter 4, Title XIV of the 1971 Code of Ordinances of the City of
Pueblo (a portion of Section 13 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, 5668 and
5810) is hereby amended by making the following changes to subsections (e) and (f):
(e) Notwithstanding the three percent rate provision of paragraph (a) of this
section 14 -4 -85, for the period January 1, 1992 through December 31, [1996,] 2001,
the rate of tax imposed pursuant to section 14- 4 -85(a) shall be three and one -half
percent.
(f) The revenues from the additional one -half percent sales and use tax rate
imposed by sections 14- 4 -63(b) and 14- 4 -85(e) 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 "1992 to
2001 Sales and Use Tax Capital Improvement Projects Fund" (the "Fund "). The moneys
in the Fund shall be used solely for job creating capital improvement projects
within the City and the Pueblo Memorial Airport boundaries at such times and in such
amounts and for such capital improvement projects as the City Council shall
determine. The City Council may, in anticipation of the collection of the revenues
from the additional one -half percent sales and use tax rate, and subject to the
Colorado Constitution, issue revenue bonds payable solely from the moneys in the
Fund for the purpose of financing such capital improvement projects. The City
Council may transfer the income from the investment of moneys in the Fund to the
Capital Improvement Fund created by Section 7 -16 of the Charter. The unappropriated
balance of the Fund on December 31, 2006 shall be transferred to said Capital
Improvement Fund.
SECTION 2
Section 63 of Chapter 4, Title XIV of the 1971 Code of Ordinances of the City of
Pueblo (Section 20 of Ordinance No. 2189 approved by a vote of the People on November 8,
1955, as amended by Ordinances Nos. 3160, 3474, 4734, 5170, 5314, 5668, and 5810) is
hereby amended by making the following changes to subsection (b):
(b) Notwithstanding the three percent rate provision of this section 14 -4 -63,
for the period January 1, 1992 through December 31, [ 1996, ] 2001, the rate of tax
imposed pursuant to this section 14 -4 -63 shall be three and one -half percent.
SECTION 3.
The people of Pueblo do hereby find, determine and declare that the expenditure of
revenues from a one -half percent sales and use tax for job creating capital improvement
projects within the City and the Pueblo Memorial Airport boundaries will promote the
public peace, health, safety and welfare and that the expenditure of such revenues for
job creating capital improvement projects is a public purpose and municipal function
notwithstanding that such expenditure may, directly or indirectly, aid, assist or benefit
private persons, corporations or other entities. The City Council is authorized and
directed to establish by Ordinance the criteria, standards, rules and regulations for the
appropriation and expenditure of such revenues for job creating capital improvement
projects with the City and the Pueblo Memorial Airport boundaries and none of the
revenues shall be appropriated or expended except in conformity therewith.
SECTION 4.
All ordinances relating to sales and 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 the 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
registered electors of the City voting thereon at the General Municipal Election to be
held Tuesday, November 7, 1995.