HomeMy WebLinkAbout174 - 12/19/2000 - APPROPRIATING PRIOR YEAR USE TAX CARRYOVER RESERVES FOR THE MANUFACTURERS USE TAX REBATE PROGRAM ORDINANCE NO. 174, 2000
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR USE TAX CARRYOVER RESERVES
FOR THE MANUFACTURERS USE TAX REBATE PROGRAM
WHEREAS, in March 1996, City Council approved a temporary rebate program for use
tax paid on manufacturing equipment; and
WHEREAS, that program has since been modified and continued, most recently for the
year 2000 (for tax year 1999) by Ordinance No. 178, 1999; and
WHEREAS, the goal of this program is to support the local economic base by providing
modest tax relief to manufacturing concerns located in Fort Collins; and
WHEREAS, in early 2000, thirty-three applications were sent to qualified manufacturers
for rebates for the 1999 tax year; and
WHEREAS, the City has received thirteen applications requesting rebates of 1999 use
taxes for a total of approximately$329,135 to be returned to the manufacturers; and
WHEREAS, the money to rebate these funds is available in the Sales and Use Tax fund
Use Tax Carryover Reserve; and
WHEREAS, Article V, Section 9, of the Charter of the City of Fort Collins permits the
City Council to appropriate by ordinance at any time during the fiscal year such funds for
expenditure as may be available from reserves accumulated in prior years, notwithstanding that
such reserves were not previously appropriated.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS that there is hereby appropriated for expenditure from the Sales and Use Tax
Fund Use Tax Carryover Reserve, the sum of THREE HUNDRED TWENTY-NINE
THOUSAND ONE HUNDRED AND THIRTY FIVE DOLLARS ($329,135) for the
Manufacturer's Use Tax Rebate Program.
Introduced, considered favorably on first reading, and ordered published this 21st day of
November, A.D. 2000, and to be presented for final passage on the 1 ay of December, A.D.
2000.
Mayor
.ATTEST:
City Clerk
Passed and adopted on final reading this 19th day of December, A.D. 2000.
Mayor
ATTEST:
City Clerk