Title
A resolution submitting to the registered qualified electors of the City of Colorado Springs, Colorado, at the coordinated election conducted by mail ballot to be held on Tuesday, November 3, 2020, the question of retaining and spending all revenues received in 2019 and 2020, and resetting the revenue and spending limitations for later years based thereon, as voter approved revenue changes; providing for the form of the ballot title; providing for certain matters with respect to the election; and providing the effective date of this resolution.
Presenter:
Mayor John Suthers
Wynetta Massey, City Attorney
Charae McDaniel, Chief Financial Officer
Body
Summary:
This Resolution refers a ballot question to the qualified registered electors of the City at the November 3, 2020 coordinated election which also constitutes a special municipal election. The ballot question asks the voters whether the City may retain and spend all revenues received in 2019 and 2020, which in 2019 exceeded, and which in 2020 might exceed, amounts otherwise allowed to be retained and spent under the City Charter ? 7-90 and Colorado Constitution Article X, ? 20, known as the Taxpayers' Bill of Rights or "TABOR". It would also reset the revenue and spending limitations for later years based thereon, as voter-approved revenue changes. The Resolution also directs City staff to do all things required in connection with having the ballot measure presented to the voters.
Background:
Under Charter ? 7-90 (g), the City's authorized change in fiscal year spending and property tax revenues are both limited to inflation plus City growth, and any voter approved changes. Under Colo. Const. Art. X, ? 20 (7) (b), City spending is similarly limited to inflation plus local growth and any voter approved revenue changes. The Finance Department has determined that the City's 2019 revenues have exceeded or will be determined to exceed these limitations by approximately $1.9 million, and tha...
Click here for full text