Ord 1560 - AMENDING CHAPTER 15 OF THE TOWN CODE. RELATING TO CONSTRUCTION TAX.i
ORDINANCE NO. 1560
AN ORDINANCE AMENDING CHAPTER 15 OF THE
TOWN CODE. RELATING TO CONSTRUCTION TAX.
THE TOWN COUNCIL OF THE TOWN OF LOS GATOS HEREBY ORDAINS:
SECTION 1
Section 15 -76 of the Town Code is hereby amended to add to that section
the following:
" Section 1 -76 Tax Rates
Effective July 1, 1983, and thereafter,
(a) Capital Improvement Tax:
$.18 for each square foot of building addition or alterations
which increases floor area of an existing building;
(b) Underground Utility Tax:
$.18 for each square foot of building addition or alterations
which increases floor area of an existing building.
(c) Park Fund Tax:
$.04 for each square foot of building addition or alterations
which increases floor area of an existing building."
SECTION 2
Section 15 -82 of the Town Code is hereby amended as follows:
" Section 15 -82 Use of Revenues
Revenues derived from levy of the tax under the provisions of this
article shall be used in the following manner:
(a) The tax collected pursuant to Section 15 -76 as a capital improve-
ment tax shall be used only for the acquisition of land for public purposes and
for the construction, renovation, remodeling, furnishing or refurnishing of
capital improvements.
(b) The tax collected pursuant to Section 15 -76 as an underground
utility tax shall be used only for the conversion of existing overhead utility
lines to underground.
(c) The tax collected pursuant to Section 15 -76 as a Parks Fund Tax
shall be deposited in the Public Parks Fund of the Town for uses as provided
for in that Fund."
SECTION 3
This ordinance takes effect 30 days after the date it is adopted. Within
15 days after this ordinance is adopted, the Town Clerk shall cause it to be
published once in a newspaper of general circulation published and circulated
in the Town.
This ordinance was introduced at a regular meeting of the Town Council
of the Town of Los Gatos on N 15 1982, and V op Md by the
con inue
following vote as an ordinance of the Town of Los Gatos at a /regular meeting
of the Town Council on December 7 , 1982.
AYES: COUNCILMEMBERS Joanne Benjamin,
Terrence J. Daily, Thomas J.
Ferrito, MarLyn J. Rasmussen and
Mayor .Brent 11. Ventura
NOES: COUNCILMEMBERS None
ABSENT: COUNCILMEMBERS None
ABSTAIN: COUNCILMEMBERS None
SIGNED:
MAYOR OF THE TO N OF LOS GATOS
ATTEST:
C2,4, Oe V
CLERK F -HE TOWN OF LOS GATOS
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