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HomeMy WebLinkAbout091 - 08/07/1979 - PROVIDING FOR THE EXTENSION OF A ONE PERCENT INCREASE IN THE SALES AND USE TAX FROM MARCH 31, 1980, ORDINANCE NO 91, 1979 BEING AN ORDINANCE PROVIDING FOR THE EXTENSION OF A ONE PERCENT INCREASE IN THE SALES AND USE TAX FROM MARCH 31 , 1980, THROUGH DECEMBER 31 , 1981 WHEREAS, on February 20, 1973, the qualified electors of the City of Fort Collins, in a special election, approved an increase in the general City sales tax from 1% to 2110, and WHEREAS, it was the express intent of the voters of the City of Fort Collins that the revenues derived from the aforementioned sales and use tax increase should be utilized for certain designated capital improvements, and WHEREAS, as the result of unanticipated increases in construction costs, inflation, and significant increases in operation and maintenance expenses for certain designated capital improvements, there is insufficient revenue projected to be derived from the additional 1% increase in sales and use tax heretofore imposed to complete all of the designated projects, particularly an indoor swimming pool and ice rink complex, and WHEREAS, upon the request of the Council of the City of Fort Collins, a special committee known as Designing Tomorrow Today was reactivated for the purpose of considering means and financial methods by whicn the Capital Improvements program could be completed and the ownership and operation costs associated with the Capital Improvements projects could bp ')aid and the Designing Tomorrow Today committee has recommended to the Council of the City of Fort Collins that the one percent increase in the sales and use tax be continued until December 31 , 1981 , in order that the original Capital Improvements program may be completed, and in order that costs associated with the operation and maintenance of the capital projects may be paid, and WHEREAS, it appearing to the Council of the City of Fort Collins that an extension of the sales and use tax increase is both necessary and proper, and WHEREAS, it further appears to the Council of the City of Fort Collins that the question of the extension of the sales and use tax increase is an integral part of the budget and appropriation process of the City of Fort Collins in that proper management of the financial affairs of the City requires that revenues be accurately ascertained prior to the passage of the annual appropriation ordinance and that, as a consequence, this ord- inance in addition to being the levying of a tax, should, for all intents and purposes, be considered to be an integral part of the budgeting and appropriation process and it is therefore the express intent of the Council of the City of Fort Collins that revenues derived from the extension of this sales and use tax shall be utilized to complete the swimming pool and ice rink complex to be located at Edora Park in the City of Fort Collins at an estimated cost of $a million NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS, COLORADO, as follows Section 1 That that certain increase in sales and use tax approved by the voters of the City of Fort Collins on February 20, 1973, as re- flected in Chapter 104 of the Code of the City of Fort Collins, be, and it hereby is, extended until December 31 , 1981 , ano further that in order to implement the extension of said increase, the following sect- ions of Articles 1 and 2 of Chapter 104, being a part of the Sales and Use Tax ordinance currently in effect shall remain in effect until December 31 , 1981 Article 1 Article 2 §104-12 (M) §104-23 (B) §104-13 (A) §104-24 (M) §104-14 (A) §104-25 (D) §104-14 (B) §104-41 §104-20 Section 2 This ordinance and the tax herein imposed shall be in effect from April 1 , 1980, until December 31 , 1981 , unless sooner changed or repealed by ordinance of the City Council Thereafter the percentage of sales and use tax specified in the above referenced sections of Chapter 104, shall automatically revert to one percent (1%) or to such different amount as may be established by ordinance nereafter enacted by tfre Council Nothinq herein contained shall be construed as restricting the power of the City Council to enact any other ordinance or measure levying a tax of any kind including a sales and/or use tax Section 3 That revenues derived from said extension of the sales and use tax shall be utilized to complete the swimming pool and ice rink coriplex to be located at Edora Park in the City of Fort Collins at an estimated cost of $4 million to pay operation and maintenance costs associ- ated with the ice rink and srirmminq pool complex, and further to pay any costs associated ,rith projects included in the original Seven Year Capital Improvement Program -2- F Section 4 That revenue derived from said extension of the sales and use tax may be used in payment of or pledged in support of any bonds issued to finance the costs of any capital improvement or acquisition set forth in Section 3 of this Ordinance, provided that nothing herein shall be construed to limit the authority of the City to pledge any other or all resources of the City in support of any such bonds Section 5 That it is the intent of the Council of the City of Fort Collins that any extensions of the sales and use tax beyond December 31 , 1981 , shall first be submitted to the qualified electors of the City for approval of such extension Introduced, considered favorably on first reading and ordered pub- lished this24th day of July , A D 1979, and to be presented for final passage on the 7th day of August A D 1979 Ma ATTEST City Clerk Passed and adopted on final reading this 7th day of u us t A D 1979 r ATTEST i y Clerk -3-