HomeMy WebLinkAbout2004-007 - Imposition of One-Half of One Percent Sales Tax• ~ .~
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BILL N0.2004-07
ORDINANCE N0.2004-07
AN ORDINANCE AUTHORIZING THE IMPOSITION OF A ONE-HALF OF ONE
PERCENT SALES TAX ON ALL RETAIL SALES WITHIN THE CITY FOR THE
PURPOSE OF FUNDING CAPITAL IMPROVEMENTS TO BE EFFECTIVE
UPON APPROVAL BY A MAJORITY OF THE QUALIFIED VOTERS
IN THE APRIL 6, 2004 GENERAL ELECTION
WHEREAS, the City and its staff have reviewed and studied the imposition of a one-half of
one percent sales tax on all retail sales in the City of Riverside for the purpose of funding capital
improvements, and have presented the findings of such studies and reviews to the Board of
Aldermen; and
WHEREAS, Missouri Revised Statutes Section 94.577 authorizes certain municipalities to
impose a sales tax of one-half of one percent on all retail sales made in such municipality which are
subject to taxation under the provisions of Missouri Revised Statutes Sections 144.010 to 144.525,
for the purpose of funding capital improvements; and
WHEREAS, the Board of Aldermen has reviewed and examined the issue of imposing a
one-half of one percent sales tax on all retails sales within the City subject to taxation under the
provisions of Missouri Revised Statutes Sections 144.010 to 144.525, for the purpose of funding
capital improvements, and deems adoption and imposition of such tax to be advisable and in the
City's best interests for the promotion of the health, safety and welfare of the residents of the City;
and
WHEREAS, Missouri Revised Statutes Section 94.577 states that no ordinance imposing a
sales tax under the provisions of Section 94.577 is effective unless the governing body of the
municipality submits to the voters of the municipality, at a municipal or state general, primary or
special election, a proposal to authorize the governing body of the municipality to impose such tax,
and further provides that no ordinance imposing such a tax is effective until a majority of the votes
cast on the proposal by the qualified voters voting thereon are in favor of the proposal; and
WHEREAS, the Board of Aldermen desires to submit to the qualified voters of the City at
the Apri16, 2004 general election the question of whether to impose such tax.
NOW, THEREFORE, BE IT ORDAINED by the Board of Aldermen of the City of
Riverside, Missouri, as follows:
Section 1. The City of Riverside shall impose aone-half of one percent sales tax on all
retail sales made within the City which are subject to taxation under the provisions of Missouri
Revised Statutes Sections 144.010 to 144.525, for the purpose of funding capital improvements,
including the operation and maintenance of capital improvements (the "Capital Improvements Sales
Tax"), such Capital Improvements Sales Tax to expire and terminate upon that date which is fifteen
(15) years after the date on which the Capital Improvements Sales Tax is imposed.
Section 2. The Capital Improvement Sales Tax shall not be imposed, and this Ordinance
shall not be effective, unless and until: (a) the City submits to the voters of the City, at the April 6,
2004 special election, a proposal to authorize the governing body of the municipality to impose the
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Capital Improvement Sales Tax; and (b) a majority of the votes cast on the Capital Improvement
Sales Tax proposal by the qualified voters voting thereon are in favor of the proposal.
Section 3. The ballot of submission concerning the Capital Improvement Sales Tax
proposal shall read as follows:
Shall the municipality of Riverside impose a sales tax of one-half
of one percent for the purpose of funding capital improvements
which may include the retirement of debt under previously
authorized bonded indebtedness, such sales tax to expire and
terminatE upon that date which is fifteen years after the effective
date of the sales tax?
[]YES []NO
If you are in favor of the question, place an "X" in the box
opposite "Yes". If you are opposed to the question, place an "X"
in the box opposite "No".
Section 4. All revenue received by the City from the Capital Improvement Sales Tax
authorized by Missouri Revised Statute Section 94.577 and this Ordinance shall be deposited in a
special trust fund and shall be used solely for capital improvements, including the operation and
maintenance of capital improvements, for so long as the Capital Improvement Sales Tax shall
remain in effect. Once the Capital Improvement Sales Tax authorized by Missouri Revised Statute
Section 94.577 and this Ordinance is abolished or is terminated or expires, all funds remaining in
the special trust fund shall be used solely for the maintenance of the capital improvements made
with revenues raised by the Capital Improvement Sales Tax authorized by Missouri Revised Statute
Section 94.577 and this Ordinance. Any funds in the special trust fund which are not needed for
current expenditures may be invested by the City in accordance with applicable laws relating to the
investment of other municipal funds.
Section 5. The sections, paragraphs, clauses, and phrases of the Ordinance are severable
and if any portion of the Ordinance is declared unlawful by the valid judgment, decree, or
injunction order of a court of competent jurisdiction, such ruling shall not affect any of the
remaining phrases, clauses, sentences, paragraphs, and sections of the Ordinance and all provisions
of the Ordinance not specifically declared to be unlawful shall remain in full force and effect.
Adopted and passed this day of January, 2004.
MAYOR OFT CITY OF RIVERSIDE
ATTES .
C Y CLERK
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