HomeMy WebLinkAbout07237ORDINANCE NO. 7237
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD SPECIAL
IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY MADE IN 2004 FOR
THE 2005 BUDGET YEAR
WHEREAS, the City of Pueblo's budget for fiscal year 2005 has been prepared and
approved in accordance with the provisions of Article 7 of the Charter of the City of Pueblo, and
WHEREAS, the 2004 net assessed valuation of all taxable property in the Bandera
Boulevard Special Improvement Maintenance District as certified by the Pueblo County Assessor is
$963,250 and
WHEREAS, the maximum allowed property tax revenue for fiscal year 2004 pursuant to
section 20(7)(c) or Article X of the Colorado Constitution is estimated to be $4,816. NOW
THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1 _
The City Council as the governing body of the Bandera Boulevard Special Improvement
Maintenance District does hereby fund and determine that the maintenance expenses of the
Bandera Boulevard Special Improvement Maintenance District during the 2005 Fiscal Year are
estimated to be $4,816 and, there is hereby made, set and levied a tax of 5.00 mills upon each
dollar of the total assessed valuation of all taxable real property located within the Bandera
Boulevard Special Improvement Maintenance District on the assessment date to meet the cost of
maintenance and reserve requirements for fiscal year 2005.
SECTION 2.
The City Council of the City of Pueblo does hereby fix and certify to the County
Commissioners of Pueblo County, Colorado the following mill levy imposed by this Ordinance upon
each dollar of the total valuation for assessment of all taxable real property located within the
Bandera Boulevard Special Improvement Maintenance District on the assessment date:
Gross Mill Levy 5.00 mills
SECTION 3.
The City Clerk is hereby directed to deliver a certified copy of this Ordinance, together with
a Certificate of Tax Levies, form DLG 70, properly completed by the Director of Finance, to the
County Commissioners of Pueblo County, Colorado, and the Division of Local Government
immediately after passage of this Ordinance.
SECTION 4.
All increase to the District's net fund balance shall constitute and be considered "reserve
increases" and therefore a part of the district's 2004 fiscal year spending. All 2004 year -end
balances shall constitute and be considered "reserves" and all subsequent expenditures and
transfers from such reserves shall be excluded from the district's fiscal year spending within the
meaning of Article X, Section 20 (2)(e) of the Colorado Constitution.
SECTION 5.
This Ordinance shall become effective upon final passage.
INTRODUCED November 22, 2004
BY Michael Occhiato
W. 1k r72 37
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Background Paper for Proposed
ORDINANCE
AGENDA ITEM #W
DATE: NOVEMBER 22, 2004
DEPARTMENT: CITY MANAGER'S OFFICE
DAVID J. GALLI, CITY MANAGER
TITLE
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD
SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL
LEVY MADE IN 2004 FOR THE 2005 BUDGET YEAR
ISSUE
This ordinance sets the mill levy for the property tax with the Bandera Boulevard Special
Improvement Maintenance District to be assessed and collected for use in the 2005 budget.
RECOMMENDATION
Approval of the ordinance.
FINANCIAL IMPACT
a9
The levy is set at 5.00 mills. It is estimated to collect $4,816 of property tax on an assessed
value of $963,250.