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<br /> improvements of every character. <br /> C. Two-thirds of the net revenue from the permanent 3.0 percent use tax shall <br /> be deposited to the city's general fund or any other fund or account as may <br /> be designated by the city council, and used for any municipal purpose. <br /> It is further the intent that if the ballot issue set forth in Section 1, above, is approved by the <br /> registered electors at the November 7, 2006, election, then the City Council shall have the <br /> authority, with the exception of the revenues subject to subsection A, above, to waive or reduce <br /> the amount of use tax otherwise due and payable to the City pursuant to such approved ballot <br /> issue and to enter into agreements for the sharing or crediting of revenues from such use tax if <br /> city council determines that such waiver, reduction, sharing or credit is in the best interests of the <br /> city. <br /> Section 4. The officers and employees of the City are hereby authorized and directed <br /> to take all necessary and appropriate action to effectuate the provisions of this Resolution in <br /> accordance with Colorado law. <br /> Section 5. Pursuant to C.R.S. Section 31-10-102.7, the City will utilize the <br /> requirements and procedures of the Uniform Election Code of 1992, articles 1 to 13 of title 1, <br /> C.R.S., as amended, in lieu of the Colorado Municipal Election Code of 1965, article 10 of title <br /> 31, C.R.S., as amended, with respect to the regular municipal election to be held on November 7, <br /> 2006, and such election shall be conducted as part of a coordinated mail ballot election. <br /> PASSED AND ADOPTED this 18th day of July, 2006. <br /> Charles L. Sisk, Mayor <br /> ATTEST: <br /> Nancy Varra, City Clerk <br /> 4 <br />