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RESOLUTION NO. 48 SERIES 2005 A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 2005, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF LOUISVILLE, COLORADO FOR THE 2006 BUDGET YEAR. WHEREAS, the City Council of the City of Louisville has adopted the annual budget for the 2006 budget year in accordance with the Local Government Budget Law, on November 1,2005; and WHEREAS, the amount of money necessary to balance the budget for general operating purposes from property tax revenue is $2,044,453; and WHEREAS, the amount of money necessary from property tax revenue to balance the budget for the estimated debt service payments of the approved bonded debt is $601,820; and WHEREAS, the 2005 valuation for assessment for the City of Louisville as certified by the County Assessor is $394,377,557; and WHEREAS, the City of Louisville is exempt from the statutory property tax revenue limitation (5.5% limit) due to the voter approval of Ballot Issue 2A on November 6,2001; and WHEREAS, the City of Louisville is exempt from the fiscal year spending limitation imposed by Article X, Section 20 to the Colorado Constitution, approved by the voters on November 3, 1992, due to the voter approval of Ballot Issue 2A on November 6,2001. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: SECTION 1. That for the purpose of meeting all general operating expenses of the City of Louisville during the 2006 budget year, there is hereby levied a tax of5.184 mills upon each dollar ofthe total valuation for assessment of all taxable property within the City for the year 2004. SECTION 2. That for the purpose of meeting payments for bonded indebtedness of the City of Louisville during the 2006 budget year, there is hereby levied a tax of 1.526 mills upon each dollar of the total valuation for assessment of all taxable property within the City for the year 2004. SECTION 3. That the City Clerk is hereby authorized and directed to immediately certify to the County Commissioners of Boulder County, Colorado, the mill levies for the City of Louisville as herein above determined and set. PASSED AND ADOPTED this 15t day of November 2005.