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HomeMy WebLinkAbout2013-01 New Section 2-1-4 Long Range Capital ProgramORDINANCE NO. 1 SERIES 2013 AN ORDINANCE ADDING A NEW SECTION 2 -1-4 TO THE VAIL TOWN CODE, TO ENSURE ADEQUATE FUNDING FOR THE TOWN'S LONG - RANGE CAPITAL PROGRAM WHEREAS, the Town of Vail, in the County of Eagle and State of Colorado (the "Town "), is a home rule municipal corporation duly organized and existing under laws of the State of Colorado and the Vail Town Charter; WHEREAS, on November 6, 2012, the registered electors of the Town of Vail voted to amend Section 9.4 of the Vail Town Charter, relating to the Town's long -range capital program; WHEREAS, Section 9.4 of the Vail Town Charter now requires that each annual budget include a long -range capital program, with the percentage of revenues to be allocated to the, long -range capital program as established by ordinance of the Town Council; and WHEREAS, to ensure adequate funding for the Town's long -range capital program, the Council determines that certain aspects of the former Section 9.4 of the Vail Town Charter should be adopted by ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. The Vail Town Code is hereby amended by the addition of the following new Section 2 -1 -4: 2 -1-4: CAPITAL PROGRAM: Pursuant to Section 9.4 of the Vail Town Charter, each annual budget shall include a long -range capital program. To ensure adequate funding for the long -range capital program, at least thirty -eight percent (38 %) of all sales tax revenues received by the Town shall be used for capital improvements, open space acquisition, or open space improvements, or for the payment of debt service to finance the same, unless otherwise approved by not less than five (5) affirmative votes of the Town Council. Section 2. The Town Council hereby finds, determines and declares that this ordinance is necessary and proper for the health, safety and welfare of the Town of Vail and the inhabitants thereof. Section 3. The amendment of any provision of the Town Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceeding as commenced under or by virtue of the provision Ordinance No. 1. Series of 2013 amended. The amendment of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. Section 4. All bylaws, orders, resolutions and ordinances, or parts thereof, inconsistent herewith are repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, theretofore repealed. INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON FIRST READING this 1St day of October, 2013 and a public hearing for second reading of this Ordinance set for the 15th day of October, 2013, in the Council Chambers of the Vail Municipal Building, Vail, Colorado. ATTEST: am agel, Actin own lerk ••••••.Andrew P. Da , ayo . SEAL READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED this 15th day of October, 2013. Andrew P. Daly, yor ATTEST: T mmy Na I, Acting wn Clerk •�;'�. . EA L. RA 2 Ordinance No. 1. Series of 2013