Title
AN ORDINANCE AMENDING THE 2014 BUDGET OF THE CITY OF COMMERCE CITY, COLORADO BY THE RECOGNITION OF THE SALES AND USE TAX REVENUE BONDS, SERIES 2014 IN THE AMOUNT OF $78,000,000 FOR THE CONSTRUCTION, INSTALLATION, OPERATION AND MAINTENANCE OF PARKS, RECREATION, AND ROADWAY IMPROVEMENTS AND THE AUTHORIZATION OF THE EXPENDITURE THEREOF.
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Summary and Background Information:
On November 6, 2013 , City voters authorized to increase the rate of sales and use tax levied by the City by an additional 1.0% commencing January 1, 2014, and to issue debt in an amount not to exceed $166,000,000. On June 5, 2014, the city issued the first tranche of $78,000,000 in Sales and Use Tax revenue bonds.
Staff Responsible (Department Head): Sheryl Carstens
Staff Member Presenting: Sheryl Carstens
Financial Impact: $78,000,000
Funding Source: Sale & Use Tax Revenue Bonds
Staff Recommendation: I move to approve Ordinance 2035