HomeMy WebLinkAboutordinance.council.017-86 ORDINANCE NO. _~_~__
(Series of 1986)
AN ORDINANCE REPEALING ORDINANCE NO. 25 (SERIES OF 1983) WHICH
ORDINANCE AMENDED ORDINANCE NO. 16 (SERIES OF 1970) SO AS TO
REQUIRE THAT SEVENTY-FIVE PERCENT (75%) OF THE "SIXTH PENNY SALES
TAX REVENUES" BE EXPENDED ONLY ON OPEN SPACE LAND ACQUISITION OR
CAPITAL IMPROVEMENTS FOR PUBLIC RECREATION AND OPEN SPACE PURPOSES
OR FOR THE INDEBTEDNESS THEREFOR
WHEREAS, Ordinance No. 25 (Series of 1983) amended Section 7
of Ordinance No. 16 (Series of 1970) by adding the following
language:
"For the purposes of this ordinance, the foregoing term
'municipal purposes' shall be defined as follows:
'Seventy-five percent (75%) of all revenues from sales tax,
park dedication fees, rents payable to the land fund, sale of
- assets purchased by the land fund, and future bond proceed-
ings for a fiscal year ending December 31 shall be allocated
or expended for open space acquisition, capital improvements
for open space/outdoor recreation use, and all debt service
guaranteed by this sales tax prior to November 15, 1983.
No more than twenty-five percent (25%) of all revenues from
sales tax, park dedication fees, rents payable to the land
fund, sales of assets purchased by the land fund, and future
bond proceeds for a fiscal year ending December 31 shall be
expended for open space, park and mall maintenance, overhead
allocation, one-third (1/3) of the food sales tax rebate, and
capital improvements that are not directly for open space
impr ov em ent.
All land fund monies expended for land acquisition shall only
be for land located within the boundaries of the City, or
contiguous thereto if annexation is completed coincident with
such acquisition.
Nothing herein shall affect or impair the pledge of any part
of the revenues from this 'sixth penny sales tax' to any bond
or other obligation of the City of Aspen issued prior to the
effective date of this ordinance amendment, or the refunding
thereof, or the expenditure of proceeds of such bonds or
obligations or the payments of debt service and other pay-
ments required pursuant to such indebtedness. All debt ser-
vice, expenditure of bond proceeds, or indebtedness payments
or obligations referred to herein shall include costs of
issuance of the debt and all payments required pursuant to
the indebtedness including funded or capitalized interest,
reserve funds and refunding costs.'"
and,
WHEREAS, the City Council, upon the advice and recommendation
of the City Manager, desires to repeal Ordinance No. 25 (Series of
1983), so as to delete the above-referenced amendment and reestab-
lish Ordinance No. 16 (Series of 1970), the same as if Ordinance
No. 25 had not been enacted.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE
CITY OF ASPEN, COLORADO:
Section 1
That Ordinance No. 25 (Series of 1983) be and the same is
hereby repealed; and Ordinance No. 16 (Series of 1970) shall and
hereby is reestablished to read the same as if Ordinance No. 25
(Series of 1983) had not been enacted.
Section 2
If any section, subsection, sentence, clause, phrase or
portion of this ordinance is for any reason held invalid or
unconstitutional by any court of competent jurisdiction, such
portion shall be deemed a separate, distinct and independent
provision and such holding shall not affect the validity of the
remaining portions thereof.
Section 3
Nothing in this ordinance shall be construed to affect any
right, duty or liability under any ordinances in effect prior to
the effective date of this ordinance, and the same shall be con-
tinued and concluded under such prior ordinance.
Section 4
A public hearing on the ordinance shall be held on the ~__
day of ~'~<~-H , 1986, at 0100 Lone Pine Road,
Aspen, Colorado. ~
INTRODUCED, READ AND ORDERED ~Dublished as provided by law of
the City Council of the City of Aspen on the I~ day of
....
William L. Stirllng
_. ATTEST:
Kathryn S. ~och, City Clerk
FINALLY adopted, passed and approved this day of
ATTEST:
Kathryn S/~/Koch, City Clerk
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