HomeMy WebLinkAbout066836125101 Substituted Conv
ORDINANCE NO. 6683
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, 2002 THROUGH
DECEMBER 31,2006; 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,] 2006 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] 2006 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] 2010 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,] 2006 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 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.
-2-
gECTION 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.
SEC 11 l� 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.
4ECTION 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.
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
6, 2001.
Approved by the Voters at the November 6, 2001 General Municipal Election
For the Ordinance 10,406
Against the Ordinance 6,246