HomeMy WebLinkAbout07922ORDINANCE NO. 7922
AN ORDINANCE LEVYING AND CERTIFYING THE
BANDERA BOULEVARD SPECIAL IMPROVEMENT
MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2008 FOR THE 2009 BUDGET YEAR
WHEREAS, the City of Pueblo's budget for fiscal year 2009 has been prepared and
approved in accordance with the provisions of Article 7 of the Charter of the City of Pueblo,
and
WHEREAS, the 2008 net assessed valuation of all taxable property in the Bandera
Boulevard Special Improvement Maintenance District as certified by the Pueblo County
Assessor is $6,954,220 and
WHEREAS, the maximum allowed property tax revenue for fiscal year 2009
pursuant to section 20(7)(c) or Article X of the Colorado Constitution is estimated to be
$34,771. 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, for the purpose of meeting maintenance expenses of
the District, does hereby make, set and levy 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 2009.
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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.
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All increase to the District's net fund balance shall constitute and be considered
"reserve increases" and therefore a part of the district's 2008 fiscal year spending. All 2008
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.
BY Randy Thurston
Councilperson
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INTRODUCED November 10, 2008
PASSED AND APPROVED: November 24, 2008
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Background Paper for Proposed
ORDINANCE
AGENDA ITEM 9 20
DATE: NOVEMBER10, 2008
DEPARTMENT: OFFICE OF THE CITY MANAGER
DAVID J. GALLI, CITY MANAGER
DOUGLAS M. FITZGERALD, ASSISTANT CITY MANAGER
TITLE
AN ORDINANCE LEVYING AND CERTIFYING THE BANDERA BOULEVARD
SPECIAL IMPROVEMENT MAINTENANCE DISTRICT PROPERTY TAX MILL LEVY
MADE IN 2008 FOR THE 2009 BUDGET YEAR
ISSUE
This ordinance sets the mill levy for the property tax within the Bandera Boulevard Special
Improvement Maintenance District to be assessed and collected for use in the 2009 budget.
RECOMMENDATION
Approval of the Ordinance.
FINANCIAL IMPACT
By approval of the voters within the District, the levy is fixed at 5.00 mills. It is estimated to
collect $34,771 of property tax on an assessed value of $6,954,220.