Ordinance 2021-1810 - Laserfiche WebLink

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OR TO REFUND SUCH DEBT AT A HIGHER OR LOWER INTEREST RATE (OR TO CREATE A RESERVE FOR SUCH PURPOSES); (2) SUCH DEBT SHALL BE A LIMITED TAX GENERAL OBLIGATION OF THE CITY, MAY BE EVIDENCED BY BONDS, NOTES, CONTRACTS OR LOAN AGREEMENTS AND SHALL BE PAYABLE FROM A PROPERTY TAX MILL LEVY NOT TO EXCEED 5.450 MILLS AND ALSO FROM EXISTING CITY SALES AND USE TAXES AS DETERMINED BY THE COUNCIL AND FROM OTHER AVAILABLE REVENUE OF THE CITY; (3) SUCH DEBT SHALL BE SOLD IN ONE OR MORE SERIES, ON TERMS AND CONDITIONS AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE CITY MAY DETERMINE, INCLUDING PROVISIONS FOR SALE OF THE BONDS AT A PRICE ABOVE OR BELOW PAR, AND FOR REDEMPTION OR PREPAYMENT PRIOR TO MATURITY, WITH OR WITHOUT PAYMENT OF A PREMIUM NOT TO EXCEED 3.00%; AND SHALL THE CITY BE AUTHORIZED TO INCREASE SUCH MILL LEVY BEGINNING IN TAX COLLECTION YEAR 2022 AND ANNUALLY THEREAFTER TO OFFSET PROPERTY TAX REFUNDS OR ABATEMENTS OR REDUCTIONS IN THE PERCENTAGE OF ACTUAL VALUATION USED TO DETERMINE ASSESSED VALUATION; AND SHALL THE EARNINGS FROM THE INVESTMENT OF THE PROCEEDS OF SUCH DEBT, SUCH SALES AND USE TAX REVENUES AND SUCH PROPERTY TAX REVENUES BE COLLECTED, RETAINED, AND SPENT 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? Section 4. The City Council may submit additional ballot issues or other measures to appear on the ballot of the election by the adoption of appropriate resolutions or ordinances as required by law. Section 5. The election shall be conducted as a part of a coordinated mail ballot election. Pursuant to C.R.S. Section 31-10-102.7, the City will utilize the requirements and procedures of the Uniform Election Code of 1992, articles 1 to 13 of title 1, C.R.S., as amended, in lieu of the Colorado Municipal Code of 1965, article 10 of title 31, C.R.S., as amended. The City Clerk is hereby appointed as the designated election official of the City for purposes of performing acts required or permitted by law in connection with the election. Section 6. Because the election will be held as part of the coordinated mail Ordinance No. 1810, Series 2021 Page 3 of 6