HomeMy WebLinkAboutOrdinance 1555CITY OF WHEAT RIDGE, COLORADO
INTRODUCED BY COUNCIL MEMBER POND
Council Bill No. 10
Ordinance No. 1555
Series of 2014
TITLE: AN ORDINANCE SUBMITTING A BALLOT QUESTION TO THE VOTERS
OF THE CITY AT THE NOVEMBER 4, 2014 ELECTION, CONCERNING AN
INCREASE IN THE SALES AND USE TAX RATE AND REVENUE BONDS
TO FINANCE PUBLIC WORKS AND PARKS AND RECREATION
INFRASTRUCTURE PROJECTS
WHEREAS , the City Council of the City of Wheat Ridge , Colorado has the
authority to refer ballot questions to the electorate pursuant to Section 6 .3 of the Home
Rule Charter and CRS 31-11-111 ; and
WHEREAS , the Council wishes to refer a ballot question concern ing an increase
in the City's sales and use tax rate to pay revenue bonds issued for the purpose of
financing various public works and parks and recreation infrastructure projects .
NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF WHEAT RIDGE, COLORADO:
Section 1. Ballot question referred.
The following ballot question is hereby referred to the electorate of the City at the
November 4 , 2014 election:
SHALL THE CITY OF WHEAT RIDGE TAXES BE INCREASED BY UP TO $6 .4
MILLION ANNUALLY IN THE FIRST FULL FISCAL YEAR , AND BY WHATEVER
ADDITIONAL AMOUNTS ARE RAISED ANNUALLY THEREAFTER, BY INCREASING
THE RATE OF SALES AND USE TAX LEVIED BY THE CITY BY ONE PERCENT
(1.0%), AND SHALL CITY OF WHEAT RIDGE DEBT BE INCREASED BY UP TO $40
MILLION , WITH A MAXIMUM REPAYMENT COST NOT TO EXCEED $68.5 MILLION ,
WITH THE PROCEEDS OF SUCH DEBT AND SUCH TAXES TO BE USED FOR:
• CRITICAL FACILITY , INFRASTRUCTURE AND ECONOMIC DEVELOPMENT
PROJECTS TO ALLOW WHEAT RIDGE TO OPERATE, MAINTAIN AND
IMPROVE ROADS , BRIDGES AND STORM WATER AND FLOOD PLAIN
DRAINAGE SYSTEMS
• CONSTRUCTION , INSTALLATION , OPERATION AND MAINTENANCE OF
PARKS AND RECREATION IMPROVEMENTS INCLUDING REVITALIZATION
OF ANDERSON PARK TO IMPROVE ITS OVERALL EFFECTIVENESS AND
EFFICIENCY AS A MULTI-GENERATIONAL FAMILY ACTIVITY PARK
INCLUDING IMPROVEMENTS TO THE OUTDOOR POOL AND FACILITIES
AND THE ANDERSON RECREATION BUILDING ,
SUCH IN CREASE IN THE SALES AND USE TAX RATE TO BEGIN ON JANUARY 1,
2015; SUCH DEBT TO BE SO LD IN ONE OR MORE SERIES AT A PRICE ABOVE ,
BELOW OR EQUAL TO T HE PRINCIPAL AMOUNT OF SUCH DEBT AND ON SUCH
TERMS AND CONDITIONS AS THE CITY MAY DETERMINE , INCLUDING
PROVISIONS FOR REDEMPTION OR REFUNDING OF THE DEBT PRIOR TO
MATURITY WITH OR WITHOUT PAYMENT OF PREMIUM OF NOT TO EXCEED
3.0%, AND SHALL THE CITY BE AUTHORIZED TO ISSUE DEBT TO REFUND THE
DEBT AUTHOR IZED IF AFTER THE ISSUANCE OF SUCH REFUNDING DEBT THE
TOTAL OUTSTANDING PRINC IPAL AMOUNT OF ALL DEBT ISSUED PURSUANT
TO THIS QUESTION DOES NOT EXCEED THE MAXIMUM PRINCIPAL AMOUNT
AUTHORIZED AND IF ALL DEBT ISSUED PURSUANT TO THIS QUESTION IS
ISSUED ON T ERMS THAT DO NOT EXCEED THE REPAYMENT COSTS
AUTHOR IZED IN THIS QUESTION ; AND SHALL THE REVE NUES RA ISED BY SUCH
SALES AND USE TAX RATE INCREASE AND PROCEEDS OF SUCH DEBT, ANY
OTHER REVENUE USED TO PAY SUCH DEBT, AND INVESTMENT INCOME
THEREON , BE COLLECTED AND SPENT BY THE CITY AS A VOTER-APPROVED
REVENUE CHANGE PURSUANT TO ARTICLE X , SECTION 20 OF THE COLORADO
CONSTITUTION?
Sec t ion 2. Safety Clause . The City Council hereby finds , determines, and
declares that this Ordinance is promulgated under the general police power of the City
of Wheat Ridge , that it is promulgated for the health , safety , and welfare of the public
and that this Ordinance is necessary for the preservation of health and safety and for
the protection of public convenience and welfare . The City Council further determines
that the Ordinance bears a rational relation to the proper legislative object sought to be
attained .
Secti o n 3. Sever abi lity; Conflicting Ordi nances Repea led. If any section ,
subsection or clause of this Ordinance shall be deemed to be unconstitutional or
otherwise invalid , the validity of the remaining sect ions, subsections and clauses shall
not be affected thereby . All other ord inances or parts of ordinances in conflict with the
provisions of this Ordinance are hereby repealed .
Section 4. Effective Da t e . Th is Ordinance shall take effect immediately upon
adoption at second reading , as permitted by the Charter
INTRODU CED , RE AD , AND A DOPTED on first reading by a vote of 7 to 0 on
this 11th day of August, 2014 , ordered published in full in a newspaper of general
circulation in the City of Wheat Ridge and Public Hearing and consideration on final
passage set for August 25 , 2014 , at 7:00 o'clock p.m ., in the Council Chambers , 7500
West 29th Avenue , Wheat Ridge , Colorado .
READ , A DOPTE D A ND ORDERED PUBLISHE D on se cond and final reading by
a vote of 8 to 0 , this 25 th day of August , 2014 .
SIGNED by the Mayor on this 25th day of _.......;A=u=g=us:;..;:t:__ ____ , 2014 .
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ATIEST:
Ar2::l,[?;/;)_d)k '
Gerald E. Dahl , City Attorney
Fi rst Publ ication : August 14, 2014
Second Publ ication : August 28, 2014
Wheat Ridge Transcript
Effective Date: Au gust 25. 2014
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