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<br />. -..-....... - "n"".,,_. .'-IV-.' . "..;.; <br /> <br />3035.8.. <br /> <br />303-868-3558;# 3 <br /> <br />election, all pursuant to and in accordance with 529-2-111, Colo- <br />rado Revised Statutesl and <br />WHEREAS, the Board of Trustees of the Town has deter- <br />mined to provide for the creation of a capital improvement fund to <br />be funded with certain portions of the proceeds of the Town's 1% <br />sales tax and with certain portions of the Town's 3.55' share of <br />the proceeds of the 2' County sales tax, to be \lsed to provide <br />capital improvements or to pay debt service on bonds or other ob- <br />ligations of the Town issued ta provide capital improvements! and <br />WHEREAS, it is necessary to submit auch proposal to the <br />registered electors of the Town before this Ordinance shall become <br />effectivel <br /> <br />BE IT ORDAINED BY THE BOARD OF TRUSTEES Of THE TOWN OF <br />IGNACIO, COlORADO: <br />SecHon 1. oefini ticms. As \lsed herein, the follow! nl/ <br />capitalized terns shall have the respective meaninl/s set forth <br />below, unless the context indicates otherwise I <br />County I La Plata County, Colorado <br />Fund t the "TOwn of Ignacio Sales TAX Capital Improve- <br />ment Fun<1" created by Section 2(a) hereof. <br />OnHnance: this Ordinance NC). 87, a<1opted February 23, <br /> <br />1984, <br /> <br />Net Pledged Revenue: with respect to any particular <br />calendar year, the amounts of pledged Revenue to be deposited to <br />the Net pledged Reven\le Account and the Reserve Account pursuant <br />to Section 2(b) FIRST and SECOND hereof. <br />!I'd Pledged Revenue Account: the sccount of the F\lnd to be <br />funded in the manner and amount' set forth in Section 2 hereof. <br />Reserve Accountl the account of the Fund to be funded <br />in the manner An<1 amounts set forth in Section 2 hereof. <br />Pledged RevenUe: all of the proceedS of the 1% sales <br />tu presently imposed by the Town pursuant to 529-2-101 .!! seq., <br />C.R,S., on the sale or purchase of tangible personal property 601d <br />at retAil or the furnis~ing of services within the <br /> <br />- 3 - <br />