St. Louis City Ordinance 67794
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INTRODUCED BY ALDERMAN LEWIS REED, STEPHEN J. CONWAY
An ordinance relating to public safety; providing, in the event of the approval by the voters of the sales tax submitted by Ordinance ___ (Board Bill 351, Committee Substitute) for the use of the proceeds of such tax..
BE IT ORDAINED BY THE CITY OF ST. LOUIS, AS FOLLOWS:
SECTION ONE: (a) In the event of the approval by the voters of the sales tax20submitted by Ordinance ___ (Board Bill 351, Committee Substitute), the annual proceeds of such tax shall be initially deposited in a City Public Safety Protection Sales Tax Fund and shall be dedicated to and used for the following purposes, commencing with the fiscal year beginning July 1, 2008, and each fiscal year thereafter:
(i) Five Million Five Hundred Thousand Dollars ($5,500,000) for police pensions, which shall be deposited in a special account within the City Public Safety Protection Sales Tax Fund named the Public Safety Pension Trust Sub-Account;
(ii) Five Million Five Hundred Thousand Dollars ($5,500,000) for firefighters’ pensions, which shall be deposited in the Public Safety Pension Trust Sub-Account;
(iii) Three Million Four Hundred Thousand Dollars ($3,400,000), which shall remain in the City Public Safety Protection Sales Tax Fund and shall be used for salary increases for firefighters, police and civilian employees of the police department in the fiscal year beginning July 1, 2008, and shall be used in subsequent fiscal years to maintain such salaries at such increased levels;
(iv) Two Million Six Hundred Thousand Dollars ($2,600,000), which amount shall remain in the City Public Safety Protection Sales Tax Fund and shall be used for a portion of the costs of compensating and providing benefits, including pension funding for that number of new police officers, if established by the board of police commissioners as provided by law, which would result in a police force of approximately One Thousand Four Hundred (1,400) officers, and in subsequent fiscal years the same amount for payment of a portion of the cost of compensation and benefits, including pension funding, for such new police officers or their replacements; and
(v) One Million Dollars ($1,000,000) shall be allocated annually for crime prevention programs to be administered by resolution of the St. Louis Board of Aldermen with approval of the Public Safety Committee and overseen by the City’s public safety department.
(b) All amounts deposited in the Public Safety Pension Trust Sub-Account and all interest earned on the funds deposited in such Public Safety Pension Trust Sub-Account shall be used for the purpose of funding (i) first, that portion of the debt service of the St. Louis Municipal Finance Corporation’s Taxable Leasehold Revenue and Refunding Bonds (City of St. Louis, Missouri, Lessee), Series 2007 (Pension Funding Project) or any subsequent bonds issued or any subsequent series of bonds refunding or refinancing any of the foregoing bonds that is allocable to the payment from bond proceeds of actuarially required contributions to the Police Retirement System (“PRS”) and Firemen’s Retirement System (“FRS”), and (ii) second, any additional actuarially required contributions to PRS and FRS.
(c) If the amounts of such tax received or estimated to be received in any fiscal year are less than Eighteen Million Dollars ($18,000,000) (a “shortfall”), then payments for the purposes listed in subparagraph (a) (iii) and (iv) of this Section shall be reduced pro rata by amounts equal to the shortfall.
(d) All interest earned on the funds deposited in such Public Safety Protection Sales Tax Fund shall be retained in such Fund and may be appropriated solely for the operation of public safety departments pursuant to Section 92.500 RSMo.
(e) Any amounts of such tax received or estimated to be received in any fiscal year in excess of Eighteen Million Dollars may be appropriated solely for the operation of public safety departments pursuant to Section 92.500 RSMo.
|1ST READING||REF TO COMM||COMMITTEE||COMM SUB||COMM AMEND|
|2ND READING||FLOOR AMEND||FLOOR SUB||PERFECTN||PASSAGE|
|ORDINANCE||VETOED||VETO OVR||SIGNED BY MAYOR|
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