Ordinance 1985-852 - Laserfiche WebLink

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ORDINANCE NO. 852 AN ORDINANCE OF THE CITY OF LOUISVILLE, COLORADO, CONCERNING THE IMPOSITION OF A 2 1/2% CITY SALES TAX ON THE SALE OF TANGIBLE PERSONAL PROPERTY AT RETAIL OR THE FURNISHING OF SE RVICES, AND THE IMPOSITION OF A 2 1/2% CITY USE TAX ON THE PRIVILEGE OF STORING, USING, OR CONSUMING IN THE CITY CONSTRUCTION AND BUILDING MATERIALS AND MOTOR AND OTHER VEHICLES ON WHICH REGISTRATION IS REQUIRED: TO CREATE A CAPITAL IMPROVEMENT FUND TO BE FUNDED HITH 33% OF THE PROCEEDS OF THE 2 1/2% SALES AND USE TAX: AND TO PROVIDE FOR THE SUBMISSION OF THIS ORDINANCE FOR APPROVAL AT A SPECIAL ELECTION OF THE REGISTERED ELECTORS OF THE CITY ON FEBRUARY 19, 1985. WHEREAS, pursuant to Chapter 3.20 of the Municipal Code of the City of Louisville, Colorado (the "Code"), the City of Louisville (the "City") presently imposes a 2% sales tax on the sale of tangible personal property at retail or the fUlnishing of services: and WHEREAS, pursuant to S29-2-101 et ~., C.R.S, such 2% sales tax can be increased only upon the approval of the registered electors of the City at a regular or special election: and WHEREAS, pursuant to S29-2-101 et seq., C.R.S., the City may impose a use tax on the pr iv ilege of storing, us i ng , and consuming in the City any construction and building materials and motor and other vehicles on which registration is required, pur- chased at retail, upon the approval of the registered electors of the City at a regular or special election: and WHEREAS, pursuant to ~29-2-111, Colorado Revised Statutes, the City may create a sales and use tax capital improve- ment fund fOl. the deposit of all or any of the revenue from the City sales or use tax, or both, to be used solely to provide capital improvements, subject to the approval of the registered electors of the City: and - 2 - If