City Council Agenda and Packet 2003 07 26 SP

Home Browse Search

WHEREAS, the extension of such use tax, for a ten-year period beginning January 1, 2004, to the use or consumption of construction and building materials purchased at retail for use in connection with residential construction or residential building projects, is an appropriate means of deriving revenue for purposes of furthering acquisition, construction, improvement or expansion of capital facilities which are located within the City, which are owned by the City or the School District, and which benefit youth within the community; and WHEREAS, residential construction with the City has been subject to certain fees to assist in paying the costs to the City of residential growth; however, revenues from such fees are not available or are insufficient for purposes relating to the acquisition, construction, improvement, and expansion of capital facilities benefiting youth within the community and located within the City and owned by the City or the School District; and WHEREAS, Article X, Section 20 of the Colorado Constitution, also referred to as the Taxpayer's Bill of Rights ("TABOR") requires voter approval for any extension of an expiring tax, and the spending of certain funds above limits established by TABOR; and WHEREAS, because the City must comply with the Constitution and laws of the State of Colorado, it is necessary to submit a TABOR ballot issue concerning the extension of the use tax provided for herein to the voters for approval, and it is also necessary to have voter approval to allow funds collected through such use tax extension to be reserved for and carried over to subsequent years; and I- w ~ \J < a.. WHEREAS, TABOR requires that the City submit ballot issues, as defined in TABOR, to the City's registered electors on specified election days before action can be taken on such ballot issues; and WHEREAS, the City will hold a regular municipal election on November 4, 2003, as a coordinated mail ballot election, and such date is one of the election dates at which TABOR ballot issues may be submitted to the registered electors of the City; and WHEREAS, it is in the best interest of the City and its citizens to submit the registered electors of the City the question of extending for ten years the City's residential use tax upon residential construction for the purpose of furthering the acquisition, construction, improvement, and expansion of capital facilities benefiting the youth of the community, as further stated in this ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: A. Subsection B of Section 3.20.300 of the Louisville Municipal Code, regarding 2