HomeMy WebLinkAbout200 - 12/18/2001 - APPROPRIATING PRIOR YEAR USE TAX CARRYOVER RESERVES FOR THE MANUFACTURERS USE TAX REBATE PROGRAM ORDINANCE NO. 200, 2001
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR USE TAX CARRYOVER RESERVES
FOR THE MANUFACTURER'S USE TAX REBATE PROGRAM
WHEREAS, in March 1996, the City Council originally approved a temporary rebate
program for use tax paid on manufacturing equipment; and
WHEREAS, the City Council extended that temporary program on an annual basis
through tax year 1999, and in December 2000, adopted Ordinance No. 173, 2000, approving the
rebate program for tax years 2000 and 2001; 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 2001, thirty-seven (37) applications were sent to qualified
manufacturers for rebates for the 2000 tax year; and
WHEREAS, the City has received thirteen (13) applications requesting rebates of 2000
use taxes for a total of approximately $498,020 to be returned to the manufacturers through the
rebate program; 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 NINETY-EIGHT
THOUSAND TWENTY DOLLARS ($498,020) for the Manufacturer's Use Tax Rebate
Program.
Introduced, considered favorably on first reading and ordered published this 20th day of
November, A.D. 2001, and to be presented for final passage on the 18th day of December, A.D.
2001. /
Mayor
TTEST:
City Clerk
Passed and adopted on final reading this 18th day of December, A.D. 2001.
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Mayor E_
ATTEST(:
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City Clerk