Laserfiche WebLink
Metadata
Document management portal powered by Laserfiche WebLink 9 © 1998-2015 Laserfiche. All rights reserved.
WHEREAS, such use tax is set to expire January 1, 2004; and <br /> <br /> WHEREAS, the extension of such use tax, for a ten-year period beginning January 1, 2004, <br />to the use or consumption of construction and building materials purchased at retail for use in <br />connection with residential construction or residential building projects, is an appropriate means of <br />deriving revenue for purposes of furthering acquisition, construction, improvement or expansion of <br />capital facilities, capital projects or equipment which are located within the City, which are owned <br />by the City or the School District, and which benefit yoUth within the community; and <br /> <br /> WHEREAS, residential construction with the City has been subject to certain fees to assist <br />in paying the costs to the City of residential growth; however, revenues from such fees are not <br />available or are insufficient for purposes relating to the acquisition, construction, improvement, and <br />expansion of capital facilities, capital projects or equipment benefiting youth within the community <br />and located within the City and owned by the City or the School District; and <br /> <br /> WHEREAS, Article X, Section 20 of the Colorado Constitution, also referred to as the <br />Taxpayer's Bill of Rights ("TABOR") requires voter approval for any extension of an expiring <br />tax, and the spending of certain funds above limits established by TABOR; and <br /> <br /> WHEREAS, because the City must comply with the Constitution and laws of the State of <br />Colorado, it is necessary to submit a TABOR ballot issue concerning the extension of the use tax <br />provided for herein to the voters for approval, and it is also necessary to have voter approval to <br />allow funds collected through such use tax extension to be reserved for and carried over to <br />subsequent years; and <br /> <br /> WHEREAS, TABOR requires that the City submit ballot issues, as defined in TABOR, <br />to the City's registered electors on specified election days before action can be taken on such <br />ballot issues; and <br /> <br /> WHEREAS, the City will hold a regular municipal election on November 4, 2003, as a <br />coordinated mail ballot election, and such date is one of the election dates at which TABOR <br />ballot issues may be submitted to the registered electors of the City; and <br /> <br /> WHEREAS, it is in the best interest of the City and its citizens to submit the registered <br />electors of the City the question of extending for ten years the City's residential use tax upon <br />residential construction for the purpose of furthering the acquisition, construction, improvement, <br />and expansion of capital facilities, capital project or equipment benefiting the youth of the <br />community, as further stated in this ordinance. <br /> <br /> NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br /> <br /> A. Subsection B of Section 3.20.300 of the Louisville Municipal Code, regarding <br />the use tax levy, is amended to read as follows: <br /> <br />2 <br /> <br /> <br />