HomeMy WebLinkAbout190 - 12/07/1999 - APPROPRIATING PRIOR YEAR RESERVES FOR THE 1998 MANUFACTURERS USE TAX REBATE PROGRAM ORDINANCE NO. 190, 1999
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES
FOR THE 1998 MANUFACTURER'S USE TAX REBATE PROGRAM
WHEREAS, in March 1996, City Council approved a temporary program for the rebate of
use tax paid on manufacturing equipment; and
WHEREAS, in June 1998, the Council adopted Ordinance No. 109, 1998, continuing the
rebate program for 1998; 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 1999, twenty-seven (27) applications were sent to qualified
manufacturers who paid use tax in 1998; and
WHEREAS,staff has received eleven(11)applications requesting a rebate and has approved
rebates totaling approximately $424,717 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 FOUR HUNDRED TWENTY-FOUR THOUSAND SEVEN
HUNDRED AND SEVENTEEN DOLLARS ($424,717) for the 1998 Manufacturer's Use Tax
Rebate Program.
Introduced and considered favorably on first reading and ordered published this 16th day of
November,A.D. 1999,and to be presented for final passage on the 7th day of December,A.D. 1999.
Mayor
ATTEST:
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City Clerk
Passed and adopted on final reading this 7th day of December, A.D. 1999.
Mayor
ATTEST:
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City Clerk