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City Council Finance Committee <br />Meeting Minutes <br />04/01/19 <br />Page 2 of 8 <br />Finance Committee Member Lipton approved the February 18, 2019 meeting <br />minutes as presented. <br />PUBLIC COMMENTS ON ITEMS NOT ON THE AGENDA <br />None. <br />RECREATION CENTER SALES AND USE TAX AND TABOR ISSUES <br />Mr. Nick Cotton -Baez from the City Attorney's Office presented ballot language for <br />review by the Finance Committee Members as requested at its February 18, 2019 <br />meeting. Examples were provided that would refund the excess tax collected but <br />retain the existing tax rate, and that would not refund the excess but would retain <br />the existing rate. Other examples of ballot language from the cities of Boulder, <br />Fort Collins and Manitou Springs were also provided. <br />Finance Committee Chairperson Maloney stated his preference to keep the excess <br />tax collected and retain the existing tax rate. Chairperson Maloney stated that the <br />City's ballot language should be straight -forward. <br />Finance Committee Members and staff discussed the pros and cons of having two <br />separate questions, and that if the measure did not pass, the excess revenue <br />would need to be refunded and the tax rate reduced. Mr. Cotton -Baez stated that <br />the City would have until December 31, 2019 for any refund. <br />Finance Committee Member Lipton stated he felt it important to review the 1Q <br />2019 financial performance for the Recreation Center and extrapolate those <br />findings to determine if the revenue and expense projections made are still <br />appropriate, and if it is necessary to ask to keep the excess tax. Chairperson <br />Maloney stated that there are still plenty of unfunded mandates, sun -blocking <br />needs for the 2nd floor of the Recreation Center, and other items that the excess <br />money can be invested in. <br />City Manager Heather Balser stated that the 1st reading of the ballot language is <br />scheduled for the 2nd City Council meeting in July. Manager Balser stated that she <br />would have a time -line schedule for ballot items distributed to Council, and that the <br />Bond Council will also need to review the ballot language. <br />The Finance Committee requested this item be brought back for the May 2019 <br />meeting. <br />3 <br />