ORDINANCE NO. 2458

AMENDING ARTICLE II. SECTION 35(b) OF CHAPTER 24, AND ARTICLE III, SECTION 77(3) OF CHAPTER 24, OF THE CODE OF ORDINANCES OF THE CITY OF GRAND JUNCTION, COLORADO

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION:

1. That Article II, Section 35(b) of Chapter 24 of the Code of Ordinances of the City of Grand Junction be amended to read as follows:

Section 24-35(b). The applicant for a new license must post a cash bond equal to the licensee's estimate, approved by the finance director, of the sales tax payment for two (2) months, or if the license is for less than two (2) months, the estimated sales tax payment for the lesser period. If for twelve consecutive months the licensee has been in compliance with all of the provisions of this Chapter 24 (including, but not limited to timely filing and payment of sales taxes during said 12 consecutive months), upon request of the licensee, the bond will be refunded or cancelled and returned to the applicant. Charitable organizations and organizations not for profit shall not be subject to bond provisions. If, for any three consecutive filing periods a licensee, whose initial bond has been refunded or cancelled, is not in compliance with all the provisions of this Chapter, such licensee shall post a bond as required in the first sentence of this subsection (a), which may be thereafter refunded or cancelled in accordance with the second sentence of this subsection (b).

2. Article III, Section 77(3) of Chapter 24:

Section 24-77(3) is amended by deleting the words "that established by the state commissioner of banking pursuant to Section 39-21-110.5, C.R.S." and inserting in place thereof the words "one and one-half percent (1 1/2%) per month".

PASSED and ADOPTED this 20th day of December, 1989.

R.T. Mantlo

____________________

President of the Council

Attest:

Neva B. Lockhart, CMC

____________________

City Clerk

I HEREBY CERTIFY that the foregoing ordinance, being Ordinance No. 2458, was introduced, read, and ordered published by the City Council of the City of Grand Junction, Colorado, at a regular meeting of said body held on the 6th day of December, 1989, and that the same was published in The Daily Sentinel, a newspaper published and in general circulation in said City, at least ten days before its final passage.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the official Seal of said City this 21st day of December, 1989.

Neva B. Lockhart

____________________

Neva B. Lockhart, CMC

City Clerk

Published: December 8, 1989

Published: December 22, 1989

Effective: January 21, 1990