City Council Minutes 2019 06 11 - Laserfiche WebLink

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City Council Meeting Minutes June11 2019 Page 14 of 15 Therefore, should the voters not approve the City retaining the revenues exceeding the estimates, the City will need to refund the revenue collected above the $575,000 estimate for the new tax ($270,795) plus the amount the City's 2018 fiscal year spending with the tax increase exceeded the estimate in the TABOR notice ($4,662,787) but the amount of refund would be capped at the total revenue collected for the 0 15% tax in 2018 ($845,795) Additionally, a rate reduction would be applied in future years, this would likely result in the rate being reduced -to 0 0% At the April 1st Finance Committee meeting, members reviewed two alternative TABOR ballot issues The first would seek voter approval to retain excess revenues received from the 2016 sales and use tax increase and retain the 0 15% rate increase The second would seek voter approval to retain the 0 15% rate increase, but not retain revenues in excess of the revenue estimates set forth in the 2016 Tabor notice (which would provide a refund of $845,795) The Committee supports the Council referring the first proposed alternative to the voters asking for no refund and retaining the 0 15% rate increase Councilmember Maloney moved to use the Finance Committee recommendation of no refund and retain the rate, Councilmember Stolzmann seconded Voice vote all in favor CITY ATTORNEY'S REPORT City Attorney Kelly stated there is a PUC hearing this week on the quiet zone application COUNCIL COMMENTS, COMMITTEE REPORTS, AND IDENTIFICATION OF FUTURE AGENDA ITEMS Councilmember Loo reminded people the Business Forum is on Thursday at 8 am She added the Parks board will be sending Council a memo about various discussion points on the subdivision landscape entries They are also working on the park naming Mayor Muckle stated Metro Mayors and MCC meetings have discussed issues of TABOR and Gallagher and discussion about possible regional taxing for infrastructure Councilmember Stolzmann added there are other options being explored Councilmember Keany noted Louisville hosted the Boulder County Consortium of Cities last week. Deputy City Manager Davis stated communities are working to push the quiet zohe issues on all fronts ADJOURN Members adjourned at 10 42 pm