Ordinance 2005-1474 - Laserfiche WebLink

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C, Except as for those revenues subject to subsection A of this section, the city council shall have the authority by resolution to waive or reduce the amount of use tax otherwise due and payable to the city pursuant to section 3.20,300, and to enter into agreements for the sharing or crediting of revenues from the tax imposed by said section 3.20.300, if city council determines that such waiver, reduction, sharing or credit is in furtherance of a public purpose and the best interests of the city, Section 2. Total City tax revenues are estimated to increase by up to $800,000 in the first full year in which the use tax provided for in this ordinance is in effect. However, the revenues from said tax may be collected and spent, regardless of whether said revenues, in any year after the first full year in which said use tax is in effect, exceed the estimated dollar amount stated above, and without any other limitation or condition, and without limiting the collection or spending of any other revenues or funds by the City of Louisville, under Article X, Section 20 of the Colorado Constitution or any other law. Section 3. This ordinance shall not take effect unless and until a majority of the registered voters voting at the regular municipal election on November 1, 2005 vote "yes" in response to the following ballot title: SHALL CITY OF LOUISVILLE TAXES BE INCREASED $800,000 IN 2006 AND THEN ANNUALLY BY WHATEVER ADDITIONAL AMOUNTS ARE RAISED THEREAFTER BY THE IMPOSITION OF A USE TAX UPON THE PRIVILEGE OF USING, STORING, DISTRIBUTING, OR CONSUMING WITHIN THE CITY ANY ARTICLE OF TANGIBLE PERSONAL PROPERTY OR TAXABLE SERVICES PURCHASED, LEASED OR RENTED FROM SOURCES INSIDE OR OUTSIDE THE CITY, SUCH TAX BEING AT THE RATE OF 3.375% OF THE PURCHASE PRICE THEREOF FOR THE PERIOD OF JANUARY I, 2006 THROUGH DECEMBER 31, 2013, AND THEREAFTER AT THE RATE OF 3,0% OF THE PURCHASE PRICE THEREOF, SUCH USE TAX TO COMMENCE JANUARY 1, 2006, ALL IN ACCORDANCE WITH ORDINANCE NO 1474, SERIES 2005, 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 4