HomeMy WebLinkAbout07498ORDINANCE NO. 7498
AN ORDINANCE AMENDING SECTION 14 -4 -85 OF CHAPTER
4, TITLE XIV OF THE PUEBLO MUNICIPAL CODE, AS
AMENDED, RELATING TO AUTHORIZED USES OF REVENUE
FROM THE HALF -CENT SALES AND USE TAX AND IMPOSING
REQUIREMENTS ON THE EXPENDITURE THEREOF
BE IT ORDAINED BY THE PEOPLE OF PUEBLO, that: (brackets indicate matter
deleted, underscoring indicates matter added)
SECTION 1
Section 14 -4 -85 of Chapter 4, Title XIV of the Pueblo Municipal Code, as
amended, is hereby amended by the addition of a new subsection (g) thereto, to
read as follows:
(g) The revenues from the additional one -half percent sales and use
tax rate imposed by subsection 14 -4 -6312 and subsection (e) above shall also
be subject to the following and may be expended for the following purposes:
1. An Office of Economic Development is hereby created as
a city department. Among other functions the department would
provide a single point of entry for economic development. The
department will be responsi -ble for creating a comprehensive
economic development plan, which would include tourism, small
business development, quality of life issues and the needed
infrastructure to complement the new businesses that are recruited.
The office will provide quarterly accountability reports to City Council
and create a venue for public input and support.
2. Wages and benefits proposed by each newly recruited
company will be detailed and included in the economic assistance
contract entered into by each company. Mandatory_ provisions shall
be included in each such contract, which will require the company to
reimburse the city for assistance provided in the event of any material
default by the company, including failure to pay agreed wage rates.
3. Companies receiving assistance with half -cent tax
revenues will be required to make good faith efforts to utilize local
suppliers and sub - contractors in the development and establishment of
their new business, unless not available.
4. The records of the Office of Economic Development shall
be public records subject to disclosure and inspection in accordance
with provisions of the Colorado Open Records Act. The custodian of
such records may refuse public inspection of confidential, privileged or
otherwise non- discloseable records only in accordance with said Act.
5. Private Economic Development Companies would be
restricted to recruitment and marketing, all other negotiations would
take place with the City Council or at the direction of City Council with
office of Economic Development.
6. Implement a code of ethics prohibiting members of any
entity which receives city funding for or operational purposes and whose
sole objective is recruitment and marketing for economic
development, from engaging in solicitation of services to a recruited
company.
7. Administrative expenses of the new office of Economic
Development shall be funded by up to 4% of total revenues generated
by the half -cent sales tax. The director would be hired and supervised
by the Pueblo City Manager.
SECTION 2
This amendment to Section 14 -4 -85 of Chapter 4, Title XIV of the Pueblo
Municipal Code, as amended, 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 on Tuesday, November 7, 2006.