Loading...
8198 - SUBMITTING to the registered electors of the City of Boulder at the special municipal coordinated election to be held on Tuesday, November 7, 2017, the question of authorizing the city council to increase the sales and use tax by up to 0.3 cents on1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 ORDINANCE 8198 AN ORDINANCE SUBMITTING TO THE ELECTORS OF THE CITY OF BOULDER AT THE MUNICIPAL COORDINATED ELECTION TO BE HELD ON TUESDAY, NOVEMBER 7, 2017, TO APPROVE THE BALLOT TITLE FOR THE NOVEMBER 7, 2017 ELECTION TO AUTHORIZE THE INCREASE OF THE DEBT OF THE CITY TO FUND CAPITAL IMPROVEMENT PROJECTS IN THE CITY OF BOULDER FROM A 0.3 PERCENT SALES AND USE TAX, WITHOUT INCREASING TAXES; SETTING FORTH THE BALLOT TITLE; AND SETTING FORTH RELATED DETAILS. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO: Section 1. A municipal coordinated election will be held in the city of Boulder, county of Boulder and state of Colorado, on Tuesday, November 7, 2017. Section 2. The official ballot shall contain the following ballot title, which shall also be the designation and submission clause for the issue: Ballot Question No. Debt Authority for Community Culture and Safety Tax For Capital Improvements SHALL CITY OF BOULDER DEBT BE INCREASED UP TO $26,000,000 WITH A REPAYMENT COST OF UP TO $29,000,000 (SUCH AMOUNT BEING THE TOTAL PRINCIPAL AND INTEREST THAT COULD BE PAYABLE OVER THE MAXIMUM LIFE OF THE DEBT) TO BE PAID FROM THE EXTENSION OF THE COMMUNITY CULTURE AND SAFETY SALES AND USE TAX OF 0.3 CENTS, IF SEPARATELY APPROVED; SUCH DEBT TO BEAR INTEREST AT A NET EFFECTIVE RATE NOT TO EXCEED 4.002 PERCENT PER ANNUM AND HAVE A MATURITY DATE NOT LATER THAN FOUR YEARS FROM THE DATE ANY SUCH DEBT IS ISSUED, SUCH DEBT TO BE SOLD AT SUCH TIME AND IN K:\CCCO\o-8198 3rd Rdg (Capital Bond) 9.5-2675.docx SUCH MANNER AND TO CONTAIN SUCH TERMS, NOT INCONSISTENT HEREWITH, AS THE CITY COUNCIL MAY DETERMINE, WITH THE PROCEEDS OF SUCH DEBT AND EARNINGS THEREON BEING USED TO FUND THE FOLLOWING CITY CAPITAL IMPROVEMENT PROGRAM PROJECTS OTHERWISE PAYABLE FROM SAID SALES AND USE TAX; • RELOCATION OF FIRE STATION #3; • LIBRARY - NORTH BOULDER BRANCH; • CITYWIDE RADIO INFRASTRUCTURE REPLACEMENT; • FOURMILE CANYON CREEK GREENWAYS IMPROVEMENTS - 19TH TO BROADWAY; • SCOTT CARPENTER POOL REPLACEMENT; AND • PUBLIC ART; WITH ANY REMAINING PROCEEDS OF SUCH DEBT AND ALL EARNINGS THEREON BE USED TO FUND CITY CAPITAL IMPROVEMENT PROJECTS THAT ARE DESCRIBED 1N ORDINANCE 8197 WITH ANY REMAINING FUNDS TO BE APPROPRIATED BY THE BOULDER CITY COUNCIL TO FUND CAPITAL IMPROVEMENT PROGRAM PROJECTS; AND IN CONNECTION THEREWITH, SHALL ANY EARNINGS FROM THE INVESTMENT OF THE PROCEEDS OF SUCH DEBTS AND THE REVENUES FROM SUCH TAX EXTENSION CONSTITUTE A VOTER APPROVED REVENUE CHANGE AND AN EXCEPTION TO THE REVENUE AND SPENDING LIMITS OF ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION? FOR THE MEASURE AGAINST THE MEASURE Section 3. If this ballot measure is approved by the voters. the Charter shall be so amended, and the City Council may adopt any necessary amendments to the Boulder Revised Code to implement this change. Section 4. If any section, paragraph, clause, or provision of this ordinance shall for any reason be held to be invalid or unenforceable, such decision shall not affect any of the remaining provisions of this ordinance. The tax established by this measure is intended to be authorized K:\CCCO\o-8198 3rd Rdg (Capital Bond) 9.5-2675.docx 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 under any lawful means of taxation, including license taxation pursuant to city of Boulder Charter Section 122. Section 5. This ordinance is necessary to protect the public health, safety, and welfare of the residents of the city, and covers matters of local concern. Section 6. The city council deems it appropriate that this ordinance be published by title only and orders that copies of this ordinance be made available in the office of the city clerk for public inspection and acquisition. INTRODUCED, READ ON FIRST READING, AND ORDERED PUBLISHED BY TITLE ONLY this 1St day of August 2017. Suzanne Jones Mayor Attest: Ly nnet e Beck City Clerk READ ON SECOND READING, AMENDED AND PASSED this 15th day of August 2017. Attest: Lynn Beck City Clerk K:ICCCO10-8198 3rd Rdg (Capital Bond) 9.5-2675.docx Suzanne Jones Mayor 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 READ ON THIRD READING, PASSED AND ADOPTED this 5th day of September, 2017. Attest: yL________1. Lynzl e Bec City Clerk K:\CCCO\o-8198 3rd Rdg (Capital Bond) 9.5-2675.docx if AL y‘.; Suzanne Jones Mayor