Ordinance 1989-0981 - Laserfiche WebLink

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immediate need for additional revenue, ( ii) that the rate of City sales taxation should be increased from 2.00% to 3.00%, (iii) that said increase, being one-third (1/3 ) of the revenues generated by said 3.00% sales tax, should be pledged and deposited to a sales tax capital improvement fund to be used solely for the purposes set forth herein, (iv) that the City should impose a 3.00% use tax as set forth herein, and (v) that certain other changes should be made to the City's sales tax legislation in order to conform to changes in state law; and WHEREAS, this ordinance shall be submitted to the registered electors of the City for approval or rejection at a special municipal election to be held on March 21, 1989; and WHEREAS, the County of Boulder (the "County" ) has not adopted a resolution proposing a sales or use tax for the County as to which the election has not yet been held; and WHEREAS, the 3.00% sales and use tax provided for herein, if approved and imposed, would not result in the imposition of a total sales or use tax by the state of Colorado, the County, and the City in excess of 7%; BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. Sales Tax Definitions. For the purpose of Sections 1 through 7, inclusive, of this ordinance (the "Ordi- nance"), words not otherwise defined herein shall have the meanings set forth in ~39-26-102, C.R.S. , as it currently exists or may hereafter be amended, and said definitions are incorporated herein by this specific reference. Section 2. General Provisions. (a) There is hereby imposed on the sale of tangible personal property at retail or the furnishing of services as pro- vided in ~29-2-105 (1) (d) , C.R.S. , a sales tax equal to three percent (3.00%) of the gross receipts (the "Sales Tax"). The tangible personal property and services taxable under this Ordinance shall be the same as the tangible personal property and - 3 -