|
|
|
 |
REQUEST FOR COUNCIL ACTION
ORDINANCE: O-2005-26
SUBJECT: Placing a Sales Tax Issue on the Ballot
RECOMMENDATION: Approval
SUMMARY AND BACKGROUND OF SUBJECT MATTER:
As a result of multiple, extensive meetings by the City Council and the public, the City Council has expressed its consensus to place on the November 1, 2005 regular municipal election a ballot issue seeking a sales and use tax rate increase from two percent to three percent, effective January 1, 2006. Food is exempted from this tax increase. In addition, revenues from the sales and use tax rate increase are earmarked as follows: 50% of the increase shall be used for public safety purposes, maintenance and construction of streets and park and recreation purposes. The balance of the new revenue generated from the tax increase shall be used to maintain city services and an emergency fund balance. The provision, "emergency fund balance" does not relate to, nor is it intended to be, controlled by the emergency reserve provision which is set forth in Article X, Section 20 of the Colorado Constitution. In addition, the City shall temporarily waive the sales tax rate increase at three existing retail centers that have established a Public Improvement Fee in order to pay for public improvements. This waiver may be rescinded by City Council action in the future.
FUNDING SOURCE: General Fund
DATE OF STUDY SESSIONS: July 11, 2005, July 18, 2005 and August 1, 2005
DATE OF FIRST READING: July 25, 2005
DATE OF SECOND READING: August 8, 2005
ORIGINATED BY: Lakewood City Council
STAFF PERSON RESPONSIBLE: Michael J. Rock, City Manager, 303-987-7050
DOCUMENTS ATTACHED: Ordinance 2005-26
Exhibit A
Exhibit B
Exhibit C
Map
SUBMITTED BY:
Michael J. Rock, City Manager
REVIEWED BY:
Joni Inman, Director Mayor and City Manager's Office
 |
||
Americans with Disability Act (ADA) Notice |
||
