Loading...
HomeMy WebLinkAbout008 - 01/17/1989 - PROVIDING FOR THE IMPOSITION OF A TWENTY-FIVE HUNDREDTHS PERCENT (0.25%) SALES AND USE TAX ON ALL TA ORDINANCE NO. 8, 1989 OF THE COUNCIL OF THE CITY OF FORT COLLINS PROVIDING FOR THE IMPOSITION OF A TWENTY-FIVE HUNDREDTHS PERCENT (0.25%) SALES AND USE TAX ON ALL TAXABLE ITEMS EXCEPT FOOD FOR THE PURPOSE OF OBTAINING FUNDS FOR THE MAINTENANCE OF THE CITY'S STREET SYSTEM, TO BE EFFECTIVE JULY 1, 1989 WHEREAS, heretofore, the City of Fort Collins has enacted a comprehensive retail sales and use tax, which enactment is codified in Chapter 25, Article III of the Code of the City of Fort Collins (the "Code") ; and WHEREAS, the amount of such tax presently imposed by the Code, as contained in Section 25-75(a) thereof, includes a twenty-five hundredths percent (0.25%) tax for necessary capital projects, which tax shall expire at midnight on June 30, 1989; and WHEREAS, the City street system constitutes a substantial asset of the City and the City's investment therein must be protected through adequate maintenance of the street system, which maintenance is of critical importance to the preservation of the public safety and welfare; and WHEREAS, the generation of revenue through the imposition of a new sales and use tax on all taxable items except food is an appropriate mechanism for raising revenue for street maintenance purposes; and WHEREAS, upon the expiration of the existing tax for necessary capital projects, it is necessary and desirable that such new twenty-five hundredths percent (0.25%) sales and use tax on all taxable items be imposed, commencing July 1, 1989, for the purpose of raising revenues for the maintenance of the City street system. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That Section 25-75(a) of the Code of the City of Fort Collins is hereby amended to read as follows: (a) The amount of tax hereby levied is two and seventy-five one-hundredths (2.75) percent of the purchase price of tangible personal property or taxable services . Twenty-five one-hundredths (0.25) percent of such amount is a tax which shall expire at midnight on December 31, 1989, and the proceeds of which shall be placed in the capital projects fund of the city for the pool and ice rink facility. An additional twenty-five one-hundredths (0.25) percent is a tax which shall expire at midnight on December 31, 1997, and the proceeds of which shall be used for the purpose of street maintenance. Adopted 1/17/89 and Referred to Voters at 3/7/89 City Election Section 2. That the Council of the City of Fort Collins shall authorize, by ordinance, the appropriation and expenditure of sales and use tax revenues collected pursuant to this Ordinance. Section 3. That the amendment to Section 25-75(a) of the Code set forth herein shall take effect at 12:01 a.m. on July 1, 1989. Section 4. That, except as provided herein, all other provisions of Chapter 25 of the Code shall remain in full force and effect until otherwise rescinded or modified by action of the Council of the City of Fort Collins. Introduced, considered favorably on first reading, and ordered published this 3rd day of January A.D. 1989, and to be presented for final passage on the 17th day of January A.D. 1989. Mayor ATTEST: t Q City Clerk Passed and adopted on final reading his l7th day of January, A.D. 1989. Mayor ATTEST: City Clerk 0 ORDINANCE NO. 8, 1989 OF THE COUNCIL OF THE CITY OF FORT COLLINS PROVIDING FOR THE IMPOSITION OF A TWENTY-FIVE HUNDREDTHS PERCENT (0.25%) SALES AND USE TAX ON ALL TAXABLE ITEMS EXCEPT FOOD FOR THE PURPOSE OF OBTAINING FUNDS FOR THE MAINTENANCE OF THE CITY'S STREET SYSTEM, TO BE EFFECTIVE JULY 1, 1989 WHEREAS, heretofore, the City of Fort Collins has enacted a comprehensive retail sales and use tax, which enactment is codified in Chapter 25, Article III of the Code of the City of Fort Collins (the "Code") ; and WHEREAS, the amount of such tax presently imposed by the Code, as contained in Section 25-75(a) thereof, includes a twenty-five hundredths percent (0.25%) tax for necessary capital projects, which tax shall expire at midnight on June 30, 1989; and WHEREAS, the City street system constitutes a substantial asset of the City and the City's investment therein must be protected through adequate maintenance of the street system, which maintenance is of critical importance to the preservation of the public safety and welfare; and WHEREAS, the generation of revenue through the imposition of a new sales and use tax on all taxable items except food is an appropriate mechanism for raising revenue for street maintenance purposes; and WHEREAS, upon the expiration of the existing tax for necessary capital projects, it is necessary and desirable that such new twenty-five hundredths percent (0.25%) sales and use tax on all taxable items be imposed, commencing July 1, 1989, for the purpose of raising revenues for the maintenance of the City street system. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS as follows: Section 1. That Section 25-75(a) of the Code of the City of Fort Collins is hereby amended to read as follows: (a) The amount of tax hereby levied is two and seventy-five one-hundredths (2.75) percent of the purchase price of tangible personal property or taxable services. Twenty-five one-hundredths (0.25) percent of such amount is a tax which shall expire at midnight on December 31, 1989, and the proceeds of which shall be placed in the capital projects fund of the city for the pool and ice rink facility . An additional twenty- five one-hundredths (0.25) percent is a tax which shall expire at midnight on December 31, 1997, and the proceeds of which shall be used for the purpose of street maintenance. Section 2. That the Council of the City of Fort Collins shall authorize, by ordinance, the appropriation and expenditure of sales and use tax revenues collected pursuant to this Ordinance. Section 3. That the amendment to Section 25-75(a) of the Code set forth herein shall take effect at 12:01 a.m. on July 1, 1989. Section 4. That, except as provided herein, all other provisions of Chapter 25 of the Code shall remain in full force and effect until otherwise rescinded or modified by action of the Council of the City of Fort Collins. Section 2. That Ordinance No. 8, 1989, of the Council of the City of Fort Collins is referred to the registered electors of the City of Fort Collins at the next regular election to be held on March 7, 1989, in substantially the following form: Approved at the Regular City Election on March 7, 1989. ATTEST(: 4itiia. . City Clerk