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HomeMy WebLinkAbout1987- 8 Amending Chapter 3.48 Land Transfer Tax of the Vail Municipal Code to Provide That the Tax Rate of One Percent Shall Not Be Increased Until Such Increase is Approved by a Vote of the Registered Electors of the Town.' +~ ~ ~,~'j• ORDINANCE N0. 8 Series of 1987 ~~~~~~~~ eeox......~.~.~ r~ c ~..~,,.,~,.~ SOF~N~~f: r I~1~ ,:,I.t3LLlf E1lGl.E CIY. ft 1_CUf2DI`r'± ;~~~~~ Ifl ~~ ~~'~~• AN ORDINANCE AMENDING CHAPTER 3.48 LAND TRANSFER TAX OF THE MUNICIPAL CODE OF THE TOWN OF VAIL TO PROVIDE THAT THE TAX RATE OF ONE PERCENT SHALL NOT BE INCREASED UNTIL SUCH INCREASE IS APPROVED BY A VOTE OF THE REGISTERED ELECTORS OF THE TOWN; PROVIDING THAT THE PROCEEDS OF THE TAX SHALL BE USED FOR THE IMPROVEMENT AS WELL AS THE ACQUISITION OF REAL PROPERTY; PROVIDING THAT THE PROCEEDS OF THE TAX MAY BE USED FOR ACQUIRING LAND LOCATED ONLY WITHIN THE TOWN OF VAIL OR cONTIGUOU5 TO THE TOWN BOUNDARIES AND PROVIDING THAT THE TAX MAY BE USED TO CONSTRUCT EiUILDINGS WPIICH ARE INCIDENTAL TO PARK, RECREATION OR OPEN SPACE LAND; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Land Transfer Tax Ordinance presently provides that the funds received by the Town pursuant to the tax shall be subject to appropriation for acquiring real property for parks, recreation, apes space and/ar similar purposes; and WHEREAS, the Town Council has received input from the general public that it ~ makes sense to use the Trarsfer Tax not only for the acquisitinn of open space, recreation and park land, but also for the improvement of such land; and WHEREAS, the Town Council wishes to restrict its right to increase the tax rate without approval of the registered voters; and WHEREAS, the Tawn Council believes that such an amendment would benefit the welfare of the community. NOW, THEREFORE, be it ordained by the Town Council of the Town of Vail, Colorado, that: Section 1. Section 3.48.040 Amount payable, subparagraph 8, is hereby amended "~~~cl fo l i ows : ~ ~~ ,~~~;~., , 8. Where the consideration shal l exceed five hundred dollars ~'~ ~0), ,.tFte- and`';.. Transfer Tax payable shall be one (1) percent of the consideration,`:t,he proc:de~d5 0~;~/~ . •, ,.,, ~ which tax shall be earmarked for acquisition AND IMPROVEMENT of real p~ropd',n~t<y=•...~~ ~~w " ~, 6 including paying ~nc~dentai costs and the principle of and interest on any borrowing fnr the acquisition, such property to be located either within or without the limits of the Town OR CONTIGUOUS THERETO. NO INCREASE IN THE ONE (I.} PERCENT TAX RATE ESTABLISHED BY THIS ORDINANCE SHALL BE LEVIED AFTER THE PASSAGE OF THE EFFECTIVE DATE OF THIS ORDINANCE UNTIL SUCH TAX RATE INCREASE SHALL HAVE BEEN APPROVED BY A MAJORITY OF THE REGISTERED ELECTORS VOTING AT A REGULAR OR SPECIAL ELECTION." ~ • • Section 2. Section 3.48.090 Land Transfer Tax Fund is hereby repealed and reenacted with amendments to read as follows: "A. All funds received by the Town pursuant to this Chapter shall be deposited in the .and Transfer Tax Fund, which fund is hereby created. The fund shall be subject to appropriation only for the following purposes: acquiring and improving real property, far parks, recreation, open space and/or similar purposes and the construction of buildings which are incidental to park, recreation and open space land, including paying incidental costs and the princip]e of and interest on any borrowing for such acquisition, improvement and construction. 8. For the purposes of this Chapter, building shall mean any structure having a roof supported by columns or walls, or any other enclosed structure for the housing of persons, animals, or property." Section 3. If any part, section, subsection, sentence, clause, nr phrase of this ordinance is fior any reason held to be invalid, such decision shall not affect the va]idity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one ar more parts, sections, subsections, sentences, clauses or phrases be declared invalid. Section 4, The Town Council hereby finds, determines and declares that this ordinance is necessary and proper far the health, safety and welfare of the Town of Vail and the inhabitants thereof. Section 5. The repeal or the repeal and reenactment of any provision of the Vail Municipal Code as provided in this ordinance shall not affect any right which has accrued, any duty imposed, ar~y violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under or by virtue of the provision repealed or repealed and reenacted. The repeal of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. INTRODEJCED, REAq AND APPROVED ON FIRST READING THIS 3rd day of March , 1987, and a public hearing shall be held on this ordinance an the 3rd day of March X987, at 7:30 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. _Z_ ~~ G ~.. r. Ordered published in full this 3rd ATTEST,,; ~~ ,~ - . , ~-~u~~ ~~~:. Pamal a.1,~Aft; 8randmeyer, Tow~h C1 erk day of March , 1987. ~~ ~~ ~ Paul ~ R: Jahn`~'~r~, Mayor INTRODUCED, READ AND APPROVED ON SECOND READING AND ORDERED PUBRISHED in full this 17th day .n1=~...~ March .i ,, ~~C~ , .~~ ~ ~`~-P~u~ R. John,~ton, Mayor ATTEST: Pamela ;,9. , .;Brandmeyer~own Clerk 1987. _3_ c ~ ~ o. o ~ ~ °~°~o~oo~'m O ~ ~ o ~. ~ ~ ~ ~~° ~ °~o~~ ~ O N ~ ~ d v ~ m ~ ~ O o' ~ ° ^ m ° ~ ~ ~, o ~ ~ ~° N ~ c~ o-°°-~~°o~o N• ~ p a B ~ ~ ~~~~~ ~ ~~o ~ ~ ~ ~. 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I m-. .~ ~j ] t0 wm~-~ m m am]ncnw._-t 7~wmm ] p a y ~ a n ~ n j' ~ ° ro <~ ~ O ~ t9 ~ ~ C ° ° o nm 00 3Rm c_~_.ba ~.' a-~ -~C ~~O aO mZ C]-<ry]O ~y ARV. 6gm7 ° 4 I my' m-+ I ~ c0 3ty~(~ n m°~oawm°~~~ °~a ~m <d -m oa m°~ ~ .~ ~ moyo d 7J ~ - V m~ C JJ _ ro •C ui, n] O ro~ N w 0 ° a J O o~ a °w^'°° a~ ~ ~ a m~ °O ~ ~ ~~ v-~ 'w~0 y m c ~ ~ m ao °' N ] ~ ] ~ d m ~p- n]r- a 1 m ~T V7 QO ~ t-at ~~m0 rmn n 9?3mq.C7Z mm-<a~7~e a. m=:a -nw~ ~.. Public Notice.. ~ ~;r -'.'bRpiNAI't4E NO. ~..•..-,.p-. __~,,._.~., ia~ '~ Serlafao1.18B7r~~~`.' ~~ AN ORDINANCE AMENpIIJG CHAPTER 3.4E LAND TggNSFER Tqx OF TH6 MUNIC€PAL COQE OF THE TOWN OF.VAIC TOPROVIOE ' .THAT THE Tex AtE•OF~p CEN7~; ; PROOF OF Pt18LICATION STATE Of COLORADO ) )) 55. coulvrv of FAGLE ALLIJN RNOX __ do solemn) I, ___.-. _ -,----------~..___ y swear fha! I am Publ_is_]ier. Cho of THE VAfL TRAIL: That The same is a weekly newspaper printe3d, In whale or in part and published En thg County of Faglr~, State of Colorado, and has a general clrcutaflon 1h©lefn; that said nowspap~r has bean published continuottsfy anc i uninterruptedly in said County of Eagie for a period of more than fitly-two cons©cullvo weeks L1ex! prior 1o Iho first publication of the annexed legal notice or advnrlEsomenl; !ha! said newspaper has been admitted io the Unl#ed 5tptes malls as second class matter under the provisions of the Acf of March 3.1879, or any amendments thereof, and that said newspaper #s a weekly newspaper duly qualified for publishing legal notices and advertisements within the meaning of the laws of 1i~e State of Colorado. That the annexed legal notice or advertisement was published In the regular and entire issue of every nurnber of said waekiy newspaper for the period of ~ - consecutlve Insertions; and That the f}TSt publication of said notice was In the Issue of said newspaper dated ._ _-..~~~r t'~ ~ ~ A.©. 19 ~ and That the last publication of said netted was in the Issue of said newspaper dated _ _ -----~_._. _~_.--.-. A.U. 19 _____ ~~ In witness whereof I have hereunto set my hcnd this 2~ day of Subscribed and sworn to bef~e me, a notary publl¢:! and e Coun of Eagle. State of Colorado, this 2~` _.day of . +"'i~~~ ------ A D. ~9 ~~ Ivty commission expklos ___ .C_ 1.--~.. ~_ ~..~~ THE WHEREAS. the Lantl Transler FA%grdinence presently praWtles Ihe1 the runtls receivetl by Ihw Town pursuant lolhe lax shall be sublact to appropnar'~on for acquirrng real properly for parks. rocrnatdon, open space antl/or s{miler purposes: and WHEREAS. the Town Council has receivetl ~npm hem h+e general pubbc roar d axes sense Iv use the Transrer Tax not only for the arquis~t'~nn BI open space, r9crea€ion and park land, bU1818n for the impfoy0rpanl n} 9eph land: and ' !a'E WHEREAS, the Town Council. W'shes [p restrict its right to increa§e [he lax rate wilheul anaroval 01 the rag stared voters; antl ' WHEREAS. the Town Caundl believes [hat such an amentlmenl would hanefp the welfare al the COmmanily. ~ •... `.S NOw, THEFlEFORE, BE•fi ORDAINED BY `,~ THE TOWN COUNCIL bF~FHE TOWN. OF ' VAiL, COLORADO, THAT, -' SECTION 1. - 3eclfon 5.48.044] Ameun[ Pey able. euhparegraph B, la hereby amended to read as, lollows~, ~ ' "B. where the consltleretlan shed esceetlnve hundred dohars IE50oh 1hs Land Tranarer Tax peyahle shall hA-bne Qt). ercenr aF the conaltlerelipn, Rte proceeds bl which tae shall _ be armark ad for aCgUl9itlOn~ANp IMPROVEMENT pl real ~prpper[y inc{uding ' paying inCidenl0l C0a[s and the principle Of and inlarear on 4ny borrowing tar the acquiaihon,,. such property to ba Iccaicd ekher wirhkn or without ihe'~Elmi[s dl 'the.'TOwn'OR~' CON7IG000S.THERETO. NO INCREASE IN THE ONE rtl PERCENT-TA%RATE~ EBTABL15HE0 BY THIS ORDINANCE SHALL BE LEV€EO AFTER~THE PASSAGE OF THEE EFFEGTlVE DATE OP t7N13 6RbrNANCE, UNTIL SUCH TAX RATE INCREASE SHALL HAVE BEEN APPROVEQ BY A MAJORITY 6F_ YHE REGISTEREp ELECTORS VPTINp AT A ' REGVLAR GR SPECIAL ELECTION:' : ,. 9ECTiON 2. - ' Secbon 3.48.090 LandFransfer Tea Fund is hereby repealed -antl raenac led with , arnentlmenls tp reatl es follows: ~'-' "A. All funds iecelyad 6y the Town pureuedf ~', In 7his.Ghacter shall. ba.denoalletl In the Land 'perks,'rBCrAAtldn:'iipdn~-ipdcd';airtllM?almhar; purposes antl' Ihd-'tdnilrucSfan'bl-bulldlnps- whlcn are mcreantal ro park,-recroallan antl open space.lantl, inciuding paying inpidenlel Costs and 1h¢ prinplplte AL antl infem€peaLan any ~'andrawn auction Cil~'~hgtji8lflptt lf~ 3pf n?a t ,~ ~ 9 Far fns pwpoeea of tlji.~flaprar plrlldrn" ` 8h811 maAM1~'snylG,'iStrpYl f tae s p nrlad by cordd hi riJJ~~ FYe App+ e'en lased atlydctura~tthtl'1t~Q~~~bad !'Animals or praPe lY ~bY'`.Y+77i;"r~kf~;•'+': .. r :'~BEGTEON 3- Il~anypar~.`8ecllun;~~ subsection, senlenea.dauaa orp raee.rol this ~~ drdinance is for any reason'Neld,td EA IpvaliQ :,~ each decision shall not arfecl lheValltlny of (he.~; ' `remainin3 porliona al rhis'ordinencb:•antl'Ihe I - Town Coundl hereby dedArea.ll woAld~hava.. _____~..,__.......... e., e.~n .,ad ceA:nn. is IAU39S 6r phree9a, be QeFtara6 f?4aIM; ~~ F, ,";;y~ }'. ~~SECTION 4 The TOird COUhdll',h-ra0y'~i ~~,'llnds. :determlppes And;tlacfarea's that-1hiq,+, `-, ortllndnce -Is n9cessary':8rid proper for.-the ~~ .: NAallh. agilely and weifa B'.bl the Tdwil,ol Veil.' - ~ ~ pod the iphabifanla lhefeof., - t'~ 1, SEGYION 5i' The'repoal m the rbpeal,add " ' reenactment of~Ahy proWSldA pY the ,=Ve+l ' Municipal Cbtle ea provided In Ihle grdlnSipca ' ,• shall not AlFecl any right Yrhlcrl, ha~~eccruedr5r ';:,any duly Imposed, an~,vlolaugq{lfiAitlcCUfred. ! ' ~I{rfar o the,--eFiec ive.•datn;-he•eoL":'any ` ' praseculipn ptlmmapcedrner any diher action ~. ' ~~or pmceedinga as eammarSced'under'or by. ' 4t'virluaol fho p5ailaldn fapaalar{pfrepsalad 0nd „reenaaep. The.repdaboF any prrivislUd narehy ~' "shah not revlue any pmvielan ar any ordinance - '"previously '-repealed ortsuparsaded:'unlASe .' s,eapresaly s[aletl herein.) ':4',i~'•,•wFr~~::-' ~~ ~~~,'.lNTR000CEb, AEAQ ANd~APPROVEd ON.;., FIRST READING ANd ORQEREOPU¢LISHEDa,~ : gNCE IN FULL 1Ns 3rd day of March, 1987 and `x 'A public hearing shell beheld An this rortllhancd n'. ;~pn [he 171h day of March,:1967 a1 73D p.m In .the CauhcU Gha lie a cr the Valli Municlpxl ~.; ~'9ulld ng VpB,, CAloredo ip~b~i;:s_ I•+"' .. i,. s TOA'N OF VAIL `~ 1 r ~,-. 1,fi dq lahnalvn ,.ATFEST - ;:PamelaA.-e[andmeyer, - lr`;, ' 'Tawn Clefk~;i~ f. i; ay ~+ •~' ~. !S ~~ INTROrTUCEa, RFJ50 ANd APPROVEd 6N '~ ',SECONp REAtrIN6 ANd ORQEREQ-' ~.' PUBLISHEQ OyCE IN pULL.tnie F71h tlay o! g~ March; €987. ~-,;. ~~? ' _" TOWN OF VAIL `;' ~',~€ y '~' pain R-Jahnsson ~ "ATTEST - ~ p ~ ~ ` r~=Pa elaA Brendmayef-F:'~~`v,l ~i~1ti •'Tawn Clerk i-- PublishedTh The Vdil Trail ~;~` ~:fi~ i5 C3 x on March 20, kBBl •,1 :-° ,