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HomeMy WebLinkAbout125 - 12/15/1992 - AMENDING CITY CODE PROVIDING FOR IMPOSITION OF 0.25% SALES AND USE TAX ON ALL TAXABLE ITEMS EXCEPT F ORDINANCE NO. 125, 1992 OF THE COUNCIL OF THE CITY OF FORT COLLINS AMENDING SECTION 25-75(a) OF THE CODE OF THE CITY OF FORT COLLINS TO PROVIDE 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 ACQUIRING, CONSTRUCTING, ENHANCING AND MAINTAINING TRAIL SYSTEMS, WILDLIFE AND OTHER NATURAL AREAS, TO BE EFFECTIVE JANUARY 1, 1993 WHEREAS, the City of Fort Collins ("the City") has heretofore enacted a comprehensive retail sales and use tax, which enactment is codified in Chapter 25, Article III, of the Code of the City ("the Code") ; and WHEREAS, the amount of such tax imposed by the Code is contained in Section 25-75(a) thereof; and WHEREAS, on September 1, 1992, by Resolution 92-104, the Council of the City referred to the qualified electors of the City a citizen-initiated proposed quarter-cent increase in such tax to be levied for a five (5) year period, beginning January 1 , 1993, and ending December 31, 1997, the proceeds of which would be used for the acquisition, construction, enhancement and maintenance of trail systems, wildlife habitat and other natural areas to benefit of the citizens of the City; and WHEREAS, on November 3, 1992, the qualified electors of the City approved the imposition of such additional tax. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that Section 25-75(a) of the Code be, and the same hereby is, amended to read in its entirety as follows: Section 25-75. Rate of tax. (a) The amount of tax hereby levied is three (3) 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, 1997, and the proceeds of which shall be placed in the capital projects fund of the city for the construction of certain capital projects as determined by the Choices 95 Executive Committee and approved by the City Council . Another 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. Another 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 the acquisition, construction, enhancement and maintenance of trail systems, wildlife habitat and other natural areas to benefit the citizens of the City of Fort Collins. Introduced, considered favorably on first reading, and ordered published this 17th day of November, A.D. 1992, and to be presented for final passage on the 15th day of December, A.D. 1992. ' or AT'"TTE�ES��T:�� . �� City Cle Passed and adopted on final reading this 15th day of December, A.D. 1992. Mayor ATTEST: City Clerk ki