HomeMy WebLinkAbout2006-105-10/17/2006-ADOPTING A REVENUE ALLOCATION FORMULA TO DEFINE THE CITY OF FORT COLLINS CONTRIBUTION TO THE POUDRE RESOLUTION 2006-105
OF THE COUNCIL OF THE CITY OF FORT COLLINS
ADOPTING A REVENUE ALLOCATION FORMULA TO DEFINE THE
CITY OF FORT COLLINS' CONTRIBUTION TO THE POUDRE FIRE
AUTHORITY BUDGET FOR THE YEAR 2007 FOR OPERATIONS AND MAINTENANCE
WHEREAS, the City of Fort Collins (the "City") entered into an Intergovernmental
Agreement dated December 22, 1981, with the Poudre Valley Fire Protection District (the
"District"), creating the Poudre Fire Authority(the "Authority"); and
WHEREAS,the Authority provides fire protection services to all properties within the city
limits,and the City has a continuing commitment to provide funding to the Authority to accomplish
the provision of these public safety services; and
WHEREAS, as a part of the Intergovernmental Agreement, the City's contribution for
maintenance and operation costs is based on a "revenue allocation formula" which is set annually
based upon a percentage of sales and use tax revenues, excluding sales and use tax revenue which
must be spent on specific projects, and a portion of the operating mill levy of the City's property
taxes available for operations; and
WHEREAS, with the adoption of Article X, Section 20 of the Colorado Constitution (on
November 2, 1992), the Council determined that the City's contribution to the Authority, as
determined by the revenue allocation formula, should be proportionately reduced, if necessary, if
City revenues exceed the estimated annual percentage increase in revenues that the City would be
permitted to retain under Article X, Section 20; and
WHEREAS,the City's contribution to the Authority for 2007 operating and maintenance cost
has been so calculated and adjusted.
NOW,THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that the following revenue allocation formula is hereby adopted to determine the City's
contribution to the Poudre Fire Authority for the year 2007:
REVENUE ALLOCATION FORMULA
The City will contribute to the Poudre Fire Authority a sum equal to .303 of one cent
of the City's 2.25 cent sales and use tax rate applicable to sales and use tax revenues
(excluding sales tax revenue which must be spent on specific projects) and a sum
equal to 67.09 percent of the operating mill levy of the City's property taxes to
provide for maintenance and operation costs of the Poudre Fire Authority. But the
contribution shall be proportionately reduced if City revenues exceed the estimated
annual percentage increase in revenues that the City would be permitted to retain
under Article X, Section 20 of the Colorado Constitution.
Passed and adopted at a regular meeting of the Co,,W ci of the City of Fort C ins this 17th
day of October, A.D. 2006. 4
n
Mayor
A'17EST:
City Clerk �0 —