City of Colorado Springs - File #: 15-00703

• File #: 15-00703
• Version: 3
• Type: Ordinance
• Status: Mayor's Office
• File created: 11/4/2015
• In control: City Council
• On agenda: 1/26/2016
• Final action: 1/26/2016
• Title: Ordinance No. 16-3 amending Ordinance No. 15-86 (2016 Appropriation Ordinance) for a Supplemental Appropriation to Adopt the Budget and Appropriate Monies in the Amount of $50,000,000 for the Road Repair, Maintenance and Improvements Sales and Use Tax Fund for the Sole Purpose of Road Repair, Maintenance, and Improvements

Date	Ver.	Action By	Action	Result
1/26/2016	3	City Council	finally passed	Pass
1/12/2016	2	City Council	approved on first reading	Pass
12/7/2015	1	Council Work Session	referred

Title
Ordinance No. 16-3 amending Ordinance No. 15-86 (2016 Appropriation Ordinance) for a Supplemental Appropriation to Adopt the Budget and Appropriate Monies in the Amount of $50,000,000 for the Road Repair, Maintenance and Improvements Sales and Use Tax Fund for the Sole Purpose of Road Repair, Maintenance, and Improvements

Body
From:
Kara Skinner, Chief Financial Officer

Summary:
The attached ordinance is a supplemental appropriation to adopt the 2016 budget and appropriate monies in the amount of $50 million for the Road Repair, Maintenance, and Improvements Sales and Use Tax Fund for the sole purpose of road repair, maintenance, and improvements.

At the November 3, 2015, special municipal election, voters of the City approved Ballot Question 2C authorizing a temporary additional levy of zero point six two percent (0.62%) in City sales and use tax dedicated solely to road repair, maintenance, and improvements.

Previous Council Action:
On August 25, 2015, City Council passed Resolution No. 83-15 approving the referral and placement of an issue on the November 3, 2015 ballot asking for voter approval to increase the City's sales and use tax by 0.62% for five years, which is dedicated solely to road repair, maintenance, and improvements. The original 2016 Budget was approved by City Council on November 24, 2015, per Ordinance No. 15-86. On December 8, 2015, Council adopted Ordinance No. 15-96 adding a new part to the City Code to establish the Road Repair, Maintenance, and Improvements Sales and Use Tax Fund (Road Tax Fund).

Background:
By voter approval, the City of Colorado Springs is authorized to temporarily increase its sales and use tax by 0.62% (6.2 pennies on a $10 purchase) for five years to fund only road repairs and improvements, and be permitted to retain all such revenues generated and to expend the same only for road repairs and improvements, exempt from spending and revenue limitations. As approved, the...