HomeMy WebLinkAbout07181ORDINANCE NO. 7181
AN ORDINANCE AMENDING CHAPTER 4, TITLE XLV OF
THE PUEBLO MUNICIPAL CODE TO REALLOCATE THE
USE OF THE THREE AND THREE - TENTHS PERCENT
PORTION OF THE CITY'S SALES AND USE TAX REVENUES
WHICH WERE PREVIOUSLY BEING RETAINED BY THE
RETAILERS WHO COLLECT SUCH TAX ON BEHALF OF
THE CITY TO COVER THEIR EXPENSES IN COLLECTING
AND REMITTING SUCH TAX; AUTHORIZING THE CITY
COUNCIL TO DEDICATE THE REVENUES FROM SUCH
THREE AND THREE - TENTHS PORTION OF THE CITY'S
SALES AND USE TAX TO THE PAYMENT OF THE
PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON THE
URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO
( "AUTHORITY ") REVENUE BONDS IN THE AGGREGATE
PRINCIPAL AMOUNT OF $9,500,000 ISSUED TO FINANCE
THE INITIAL CONSTRUCTION OF THE PUEBLO
CONVENTION CENTER AND HOTEL COMPLEX, OR ANY
BONDS ISSUED TO REFINANCE SUCH BONDS, TO THE
PAYMENT OF THE NET OPERATING AND MAINTENANCE
EXPENSES OF THE PUEBLO CONVENTION CENTER, TO
THE FINANCING, ACQUISITION AND CONSTRUCTING OF
PARKING FACILITIES, TO ASSIST IN THE FINANCING,
ACQUISITION, CONSTRUCTION AND EQUIPPING OF A
HEALTH DEPARTMENT FACILITY, TO THE PAYMENT OF
THE PRINCIPAL OF, PREMIUM, IF ANY, AND INTEREST ON
THE AUTHORITY'S REVENUE BONDS IN A PRINCIPAL
AMOUNT NOT TO EXCEED $12,000,000 TO FINANCE AN
EXPANSION OF THE PUEBLO CONVENTION CENTER AND
RELATED IMPROVEMENTS AFTER ENCUMBERING ALL
TAX ALLOCATION REVENUES OF THE AUTHORITY TO
THE PAYMENT OF 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 SUCH PURPOSES IS A PUBLIC
PURPOSE AND MUNICIPAL FUNCTION; AND PROVIDING
OTHER MATTERS RELATING THERETO
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that: (Brackets
indicate matter being deleted; underscoring indicates new matter being added.)
SECTION 1.
Chapter 4, Title XIV of the Pueblo Municipal Code (a portion of Ordinance No.
2189 approved by a vote of the People on November 8, 1955, as amended by
Ordinance Nos. 3160, 3474, 4235, 5170, 5314, 5668 and 5810 ) is hereby amended to
read as follows:
Sec. 14 -4 -17. Collection fees.
Notwithstanding Sections 14 -4 -1 and 14 -4 -85 of this Chapter, three and three
tenths percent (3.3 %) 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 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
operation and maintenance expenses of a civic center and hotel complex within the
Urban Renewal Authority of the City; (2) paying the principal of, premium, if any, and
interest on revenue bonds of the Urban Renewal Authority of the City 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.] (1) paving the
principal of, premium, if any, and interest on the Urban Renewal Authority of
Pueblo, Colorado ( "Authority ") revenue bonds in the aggregate principal amount
of $9,500,000 issued to finance initial construction of the Pueblo Convention
Center and hotel complex, or any bonds issued to refinance such bonds, (2)
Paying the net operating and maintenance expenses of the Pueblo Convention
Center, (3) financing the acquisition and construction of parking facilities, (4)
assist in the financing, acquisition, construction and equipping of a health
department facility, (5) paving the principal of, premium, if any, and interest on
the Authority's revenue bonds in a principal amount not to exceed $12,000,000 to
be issued to finance an expansion of the Pueblo Convention Center and related
improvements after encumbering all tax allocation revenues of the Authority to
the payment of such bonds, or any bonds issued to refinance such bonds, and /or
(6) 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] any and
all of the purposes set forth in clauses [(1) and/or (2) ] (1). (2). (3), (4) and (5) above
SECTION 2.
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 XLV of the Pueblo Municipal Code (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 7181 ) 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.
SECTION 3:
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 4:
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 5:
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 6:
This Ordinance shall become effective upon majority vote in favor thereof by the
registered electors of Pueblo voting thereon at the Special Municipal Election to be held
Tuesday, November 2, 2004.
November 2, 2004 Election Results
FOR THE ORDINANCE 16274
AGAINST THE ORDINANCE 23988