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HomeMy WebLinkAbout1993-15 Establishing Support for Amendent One and or the Tabor Amendmenty '3 RESOLUTION NO. 1s SERIES OF 1993 A RESOLUTION ESTABLISHING VAIL TOWN CQUNCIL'S SUPPORT i=OR AND URGING VOTER APPROVAL OF BALLOT QUESTION N0. rt WHICH, IF APPRt~VEO tav THE voTERS, WILL REMOVE THE REVENUE RESTRICTIONS OF ARTIGLE X, SECTION 2Q, WHICH iS COMMONLY KNOWN AS AMENDMENT ONE AND/OR THE TABOR AMENDMENT. WHEREAS, passage of Ballot Question No. 1 will not increase taxes. It allows only for spending of already existing revenues. WHEREAS, Vail Town Council has engaged in considerable study and review of Vail's economy and the effects of revenue limitation as required by Amendment One; and WHEREAS, Amendment One's restrictions as they pertain to revenue limitation do not coincide with Vail's resort based economy and such annual fluctuations as can be experienced in Vail's resort based economy; and WHEREAS, this ballot question will resolve the issue of the Town of Vail being able to continue to provide current services at current tax levels; and WHEREAS, this revenue restriction could impact negatively an Town of Vail services and could require reduced service levels; and WHEREAS, legal interpretations are diverse and unclear making the impact of revenue limitation impossible to evaluate; and WHEREAS, Vail took advantage of refinancing debt in 1992 to take on additional necessary capital projects between 1993 and 1996 and such reduction in debt service may not be considered fiscal year spending; and, therefore, revenue res#rictions in Amendment One may require a reduction in revenues and consequently a reduction in capital projects or other services; and r , ~ commercial property that would produce significant increase in the Real Estate Transfer Tax that revenue may have to be returned to the taxpayer, thereby limiting the Town's ability to purchase open lands; and WHEREAS, being a resort based economy it is important the Town of Vail be able to collect and reinvest the revenues generated through visitor spending; and WHEREAS, other than allowing the Town of Vail to collect and expend the full revenues generated, all the other restrictions of Amendment One remain in effect including requiring voter approval of all new taxes and tax rate increases, voter approval for new or additional Town of Vail debt, all ad valorem property tax restrictions remain in place, there can be no increase or imposition of a new Real Estate Transfer Tax, and all election requirements remain in effect. NOW, THEREFORE, be it resolved by the Town Council of the Town of Vail, Colorado: 1. The Town Counci! fully supports and recognizes the need to remove revenue imitation as set forth in Ballot Question No. 1. 2. The Town Council urges voter approval of Ballot Question No. 1 to allow the collection and expenditure of full revenues which will allow service levels to remain consistent and at the level expected by Town of Vail residents, visitors, and employees. 3. This resolution shall take effect immediately upon its passage. INTRODUCED, READ, APPROVED AND ADOPTED this 9th day of November, i 993. Marg~Fet A. Osterfoss, Mayor ATTEST: Holly L. McCutcheon, Town Clerk n O X N m Q 2 0 2 0 o ~ p O Qa ~ N Q. p a N G p. O 3 O O ~ 0 0Q Q p O S m 0 c 0 0 fl o : #~~ ~~r~ ~ y~ ~~~ g~~ a~~~~~ 3 ~ ~ ~ fl. ~ 3 ~ ^ ~" p ~ m m n ~ Q~ p ~ y~ cD c Z m cD Q ~ ~ m ~ ~ p '~ ~ -a- ~ O tpU ~ o ~ o D O C7N ~ p Q~ p p '* { ~ m ~ T N `~ ~ ~• ~ m ~ ~ ~m ~ ~ D p x ~ ~ ~ p ~' a ~ 9. z O ~ Q ~~,. O~~ Q h n nrt ~~ m ~ D 6 p' ~~~ O Q~ ~ a. H Z O p' ~ C3 ~ ~ ~ ~ ~ ~ (~D ~ ~ p ~ ..r .sv g o x O ~ ~ ~ ~ ~ O ~ ~ ~; cD Z ~ ~ '< -+ w p ~ ~ N cn O N a~ ~~ ~~ m p y -< ~ p ~ Q a o ~ ~ D ~ ~ Q p ~ 70 Q Y- y ~ ~ ~ a ~ ~ ~ p. ~ ~ Q O Q°naa~~~°~a~Q,~o O 3 ~ ~ m ~ ° ~ ~ ~ o ~ Q ~ o ~ Q ~ ci o m ~, ~ ~ ~ o c p ~ ~ •r a o ~~ (~p,wam~ o~,c ~ f~? p 0~ 3 ~ Q~ ~ C p a ~ ~ ~ ~ ~ m ~ O Q ~ ~ ~ p p N ~ ~ Q~ o o Q 5 p aO . ~ O ~ ~ ~p t~D ~; ~ ~ ~ ~ ~ D __.. Q p ~ cp O .~ ~ O ~ Z Q 0 0 ~. ~ 3 Q~ o~ m m Z y ~ o?~ m Q m o a a ~ m ~ ~ ~ Q `n ~ ~ f~ Q a m ~~ Q Q° Q 7 p ° Q c~ ~ p ~ vs o~~~ ~~~~~.av~~ H a m m ~ Q ~'. o o ~, o~ 3~ ~~ 3 0 p. Q o fl. ~ m N a~ Q m~ 5~ v 3' ~' 7L m a ~