RESOLUTION NO. 06-13

A RESOLUTION SETTING A TITLE AND SUBMITTING TO THE ELECTORATE ON APRIL 2, 2013 A MEASURE TO RETAIN AND SPEND REVENUES AS DEFINED BY ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION

RECITALS.

In 1992, the Colorado electorate amended the Colorado Constitution by the passage of the “Taxpayers Bill of Rights” (TABOR Amendment). The Amendment requires, among other things that any time fiscal year revenues exceed the limitation imposed by the Amendment for the fiscal year then the local government must refund the revenues above the allowed limit unless the voters approve otherwise.

A significant portion of the City’s general government revenue is derived from sales tax paid by visitors, shoppers and tourists. Because the City is principally funded by sales tax, the tax burden on City residents is reduced. Sales tax funding of municipal services provides a means of sharing the cost of services among all users. Sales tax will be the primary source of revenues subject to the limits imposed by the TABOR Amendment.

Approval of the ballot question would allow the City of Grand Junction to retain and spend current sales and property tax revenue to pay for continued investment in transportation improvements in the City, including completion of the beltway project known as the Riverside Parkway (“Parkway”) with the 29 Road interchange at I-70 on the East, 29 Road, 24 Road and renovation of North Avenue and Horizon Drive.

In 2007 the voters approved the use of TABOR restricted tax money for the Parkway and transportation system improvements; approval of the April 2, 2013 ballot question will allow the continued use of that money for additional transportation projects. The ballot question does not repeal any TABOR provisions; voter approval of the ballot question will not increase taxes or tax rates and any future debt or tax increases will be required to have a vote.

NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF GRAND JUNCTION THAT:

1.  The ballot question will maximize resources for the continued investment in transportation improvements.

2.  Principal and interest from all retained excess revenues will be budgeted by the City and allocated solely for planning, design and construction of transportation improvements.

3. The following question be submitted to the registered electors on Tuesday,

April 2, 2013.

City of Grand Junction Referred Measure B

“WITHOUT ANY INCREASE IN TAXES OR DEBT (UNLESS THE VOTERS AUTHORIZE ANY INCREASE IN THE FUTURE), SHALL THE CITY OF GRAND JUNCTION, COLORADO BE AUTHORIZED TO RETAIN ALL REVENUES OVER THE AMOUNTS WHICH THE CITY IS PERMITTED TO COLLECT UNDER ARTICLE X, SECTION 20 (ALSO KNOWN AS THE TABOR AMENDMENT) OF THE COLORADO CONSTITUTION TO PAY ALL OR ANY PORTION OF THE COSTS OF THE DESIGN AND CONSTRUCTION OF STREET, SIDEWALK, PATH AND HIGHWAY TRANSPORTATION IMPROVEMENTS KNOWN AND REFERRED TO AS THE BELTWAY, THE INTERCHANGE AT I-70 AND 29 ROAD, 29 ROAD, 24 ROAD AND HORIZON DRIVE FROM 27 ½ ROAD TO THE AIRPORT AND NORTH AVENUE FROM 1ST STREET TO 29 ROAD; PROVIDED THAT ONCE THE COSTS OF SUCH TRANSPORTATION IMPROVEMENTS HAVE BEEN PAID IN FULL THE REVENUE LIMITS OF TABOR SHALL AGAIN APPLY TO THE CITY?”

YES

NO

Adopted this 16^th day of January, 2013.


                         

           President of the Council

ATTEST:

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City Clerk