Ordinance 1994-1157 - Laserfiche WebLink

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WHEREAS, the extension of the City's use tax, for a nine-year period, to the use or consumption of construction and building materials purchased at retail for use in connection with residential construction or residential building projects, is an appropriate means of deriving revenue for purposes furthering the acquisition, improvement, or expansion of the School District's educational facilities serving the citizens of Louisville and their school-age children, which purposes may include but are not limited to acquisition of land within the boundaries of the City of Louisville, upon which to construct a new high school; and WHEREAS, residential construction has been subject to a capital improvement fund fee, to assist in paying the costs to the City of residential growth; however, revenues from that fund are not contemplated to be used for any purposes relating to the acquisition, improvement, or expansion of educational facilities; and WHEREAS, because the City must comply with the Constitution and laws of the State of Colorado, it is necessary to submit the extension of the use tax provided for herein to the voters for approval, and it is also necessary to have voter approval to allow funds collected through such use tax extension to be reserved for and carried over to subsequent years; and WHEREAS, at the November 2, 1993 election, the registered voters of the City approved Ordinance No. 1119 ( Series 1993), providing for a three-eighths percent ( 3/8 % ) use tax, on non- residential construction or building projects, for the acquisition of land in and around the City for open space buffer zones, trails, wildlife habitats, wetlands preservation and future parks, and the Ci ty Council believes that the revenues from the three-eighths percent use tax on residential construction and building materials imposed pursuant to this Ordinance No. 1157 should be used for such purposes during the remainder of the ten-year period during which such three-eighths percent use tax is in effect. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: A. Section 3.20.140 of the Louisville Municipal Code is amended to read as follows: 3.20.140 Use Tax - Imposed. A. There is imposed and there shall be paid and collected a use tax: 1. UPON upon the privilege of using or consuming within the city construction or AND building materials purchased at retail for use in connection with commercial, industrial or 2