Resolution 2006-30 - Laserfiche WebLink

Home Browse Search

WITHIN THE CITY CONSTRUCTION AND BUILDING MATERIALS PURCHASED AT RETAIL FOR USE IN CONNECTION WITH NEW RESIDENTIAL CONSTRUCTION OR NEW RESIDENTIAL BUILDING PROJECTS, SUCH TAX BEING AT THE RATE OF 3.375% FOR THE PERIOD OF JANUARY 1, 2007 THROUGH DECEMBER 31, 2013, AND THEREAFTER AT THE RATE OF 3.0%, SUCH USE TAX TO COMMENCE JANUARY 1,2007 AND TO BE UPON SUCH BASE AND SUBJECT TO SUCH EXEMPTIONS, WAIVERS AND CREDITS, AND COLLECTION AND ENFORCEMENT PROCEDURES, AS CITY COUNCIL MAY PRESCRIBE BY ORDINANCE, WITH THE NET PROCEEDS OF SUCH USE TAX TO BE COLLECTED, RETAINED AND SPENT FOR PURPOSES DETERMINED BY THE CITY COUNCIL; AND SHALL THE CITY BE PERMITTED TO COLLECT, RETAIN AND EXPEND ALL REVENUES DERIVED FROM SUCH USE TAX AS A VOTER-APPROVED REVENUE CHANGE AND AN EXCEPTION TO LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? YES - NO - Section 2. The City Council may submit additional ballot issues or other referred measures to appear on the ballot of the November 7, 2006 regular municipal election by the adoption of an appropriate resolution or ordinance as required by law. Section 3. City Council hereby finds and states that it is City Council's intent that if such ballot issue is approved by the registered electors at the November 7, 2006, election, then the revenues derived from such use tax shall be deposited or applied in the following manner: A. Revenues from the temporary % percent use tax imposed for the ten-year period beginning on January 1, 2004 shall be used exclusively for the acquisition of land in and around the city for open space buffer zones, trails, wildlife habitats, wetlands preservation and future parks; and for the development, construction, operation and maintenance of such open space zones, trails, wildlife habitats, wetlands and parks. B. One-third of the net revenue from the permanent 3.0 percent use tax shall be deposited to the City's capital improvement fund and used solely for the following purposes (and such revenue is pledged to the capital improvement fund): to provide capital improvements or to pay debt service on bonds or other obligations issued for the purpose of providing capital improvements, including without limitation, the payment of all costs associated with the construction, installation, acquisition, provision, design, completion, improvement, replacement and financing of capital 3 - ,