Title
A resolution submitting to the registered qualified electors of the City of Colorado Springs, Colorado, at the general municipal election conducted by mail ballot to be held on Tuesday, April 4, 2017, the question of retaining and spending up to $6,000,000 of the estimated 2016 fiscal year revenue above the 2016 fiscal year revenue and spending limitations, and a like amount of any excess revenue in fiscal year 2017, as a voter approved revenue change, with any excess revenue in fiscal years 2016 and 2017 beyond this $6,000,000 revenue change to be refunded to taxpayers; providing for the form of the ballot title and text; providing for certain matters with respect to the election; and providing the effective date of this resolution.
Presenter:
Mayor John Suthers
Kara Skinner, CFO
Body
Summary:
This Resolution refers a ballot question to the qualified registered electors of the City at the April 4, 2017 general municipal election. The ballot question asks the voters whether the City may retain and spend up to $6 million of revenues received by City during each of fiscal years 2016 and 2017 which may exceed the amounts otherwise allowed in those years to be retained and spent under City Charter ? 7-90 and Colorado Constitution Article X, ? 20, known as the Taxpayers' Bill of Rights or "TABOR", provided that the funds may only be used for stormwater improvements located within and benefitting the City of Colorado Springs. A list of the stormwater projects which, revenues permitting, will be funded with this revenue is attached to the Resolution as Exhibit "A". These projects are needed to meet the City's obligations under the federal Clean Water Act, its MS4 discharge permit and/or the Intergovernmental Agreement between the City and Pueblo County dated April 27, 2016. The authorization to use up to this amount of excess revenue received during the two years would be a voter approved revenue and spending change exempt from otherwise applicable ...
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