ORDINANCE NO. 20-62
AN ORDINANCE AMENDING MULTIPLE SECTIONS UNDER PART 11 (ROAD REPAIR, MAINTENANCE, AND IMPROVEMENTS SALES AND USE TAX FUND) TO ARTICLE 6 (CITY FUNDS) OF CHAPTER 1 (ADMINISTRATION, PERSONNEL AND FINANCE) OF THE CODE OF THE CITY OF COLORADO SPRINGS 2001, AS AMENDED, REGARDING THE ROAD REPAIR, MAINTENANCE, AND IMPROVEMENTS SALES AND USE TAX FUND
 
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF COLORADO SPRINGS:
   Section 1.     Section 1102 (Purpose of the Fund) of Part 11 (Road Repair, Maintenance, and Improvements Sales and Use Tax Fund) of Article 6 (City Funds) of Chapter 1 (Administration, Personnel, and Finance) of the Code of the City of Colorado Springs 2001, as amended, is hereby amended as follows:
1.6.1102:  PURPOSE OF THE FUND:
 
At the November 3, 2015, special municipal election, the voters of the City approved a ballot question authorizing a temporary additional levy of sixty-two one-hundredths percent (0.62%) in City sales and use tax dedicated solely to road repair, maintenance and improvements and constituting a voter approved revenue change exempt from spending and revenue limitations, said temporary tax levy expires on December 31, 2020
 
At the November 5, 2019, special municipal election, the voters of the City approved a ballot question authorizing a five (5) year extension of the temporary additional levy in the decreased amount of fifty-seven one-hundredths percent (0.57%) in City sales and use tax dedicated solely to road repair, maintenance and improvements and constituting a voter approved revenue change exempt from spending and revenue limitations. 
 
   Section 2.   Section 1103 (Source of Revenue) of Part 11 (Road Repair, Maintenance, and Improvements Sales and Use Tax Fund) of Article 6 (City Funds) of Chapter 1 (Administration, Personnel, and Finance) of the Code of the City of Colorado Springs 2001, as amended, is hereby amended as follows:
1.6.1103:  SOURCE OF REVENUE:
   
The source of revenue for the fund shall be the revenue generated by the additional temporary levy of sixty-two one-hundredths percent (0.62%) in City sales tax and use tax during the period from January 1, 2016 through December 31, 2020 and fifty-seven one-hundredths percent (0.57%) in City sales and use tax which during the period from January 1, 2021 through December 31, 2025. will increase the sales and use tax levy from a two and five-tenths percent (2.5%) City sales and use tax rate to a three and twelve one-hundredths percent (3.12%) City sales and use tax rate.
 
   Section 3.   Section 1106 (Temporary Sales and Use Tax and Fund Repeal) of Part 11 (Road Repair, Maintenance, and Improvements Sales and Use Tax Fund) of Article 6 (City Funds) of Chapter 1 (Administration, Personnel, and Finance) of the Code of the City of Colorado Springs 2001, as amended, is hereby amended as follows:
1.6.1106:  TEMPORARY SALES AND USE TAX AND FUND REPEAL:
 
Unless extended by a vote of the electors of the City of Colorado Springs, the temporary sales and use tax levy for road repair, maintenance and improvements of sixty-two one-hundredths percent (0.62%) fifty-seven one-hundredths percent (0.57%) shall expire on December 31, 20205, exactly five (5) years from the date of its implementation on January 1, 201621. The fund shall expire on December 31, 20205, after all monies in the fund have been expended or all outstanding contract obligations payable by the fund have been satisfied, whichever last occurs.
 
Section 4.     This ordinance shall be in full force and effect from and after its final adoption and publication as provided by Charter with an effective date of January 1, 2021.
   Section 5.     Council deems it appropriate that this ordinance be published by title and summary prepared by the City Clerk and that this ordinance be available for inspection and acquisition in the office of the City Clerk.
   Introduced, read, passed on first reading and ordered published this 22nd day of September 2020.
 
 
Finally passed: October 13th 2020         ________________________________
                     Council President
Mayor’s Action:
 
Approved on ______________________.      
Disapproved on _____________________, based on the following objections:
 
_______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________
 
 
________________________________   
Mayor
 
Council Action After Disapproval:
 
Council did not act to override the Mayor’s veto.
Finally adopted on a vote of ________________, on ________________.
Council action on __________________ failed to override the Mayor’s veto.
 
                     ________________________________
                     Council President
 
ATTEST:
 
_________________________________
Sarah B. Johnson, City Clerk