HomeMy WebLinkAbout06566As Amended August 28, 2000
ORDINANCE NO. 6566
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 THREE YEAR PERIOD FROM JANUARY 1, 2002 THROUGH
DECEMBER 31, 2004; DEDICATING THE REVENUES FROM A ONE -HALF
PERCENT SALES AND USE TAX RATE FOR JOB CREATING 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, 5810 and 5978) 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,
[2001] 2004 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] 2004 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] 2008 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 Ordinance Nos. 3160, 3474, 4734, 5170, 5314,
5668, 5810, and 5978) 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, [2001] 2004 the
rate of tax imposed pursuant to this section 14 -4 -63 shall be three and one -half
percent.
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The people of Pueblo do hereby find, determine and declare that the expenditure
of revenues from a one -half percent sales and use tax rate 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 within 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 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 the same may be amended by this Ordinance.
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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.
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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.
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This Ordinance shall become effective upon majority vote in favor thereof by the
registered electors of the City voting thereon at the Special Municipal Election to be held
Tuesday, November 7, 2000.