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Louisville City Council Meeting <br />July 2, 2002 <br />Page 5 <br /> <br />from the second reading of the ordinance and will not change the practical effect of the <br />question. <br /> <br />Simmons noted that previous debt service schedules discussed with Council used an <br />interest rate of 5.25%. He stated that the bond, if approved, would begin in December of <br />2002, and end in December 2022. <br /> <br />ORDINANCE NO. 1392, SERIES 2002 - AN ORDINANCE SUBMITTING TO <br />THE REGISTERED ELECTORS AT THE NOVEMBER 5, 2002 SPECIAL <br />ELECTION, TWO BALLOT ISSUES CONCERNING AN INCREASE IN THE <br />CITY SALES AND USE TAX AND THE ADOPTION OF A LODGING TAX - 1st <br />reading - set public hearing 7/16/02 <br /> <br />Davidson called for City Attomey introduction. <br /> <br />City Attorney Light read Ordinance No. 1392, Series 2002. <br /> <br />Deputy City Manager Julie Boyd reviewed Ordinance No. 1392, which sets two ballot <br />questions. The sales tax is addressed in the first question and the new lodging tax would <br />be addressed in second question. She pointed out that the total revenue needed for the <br />operations of the expanded facilities is approximately $685,000 annually, with $250,000 <br />generated from a 3.0% lodging tax and the remaining $435,000 from sales tax. She <br />reported that the City Attorney has suggested alternative language for the sales <br />tax/lodging ballot question that would tie in the operation of the recreation center, library <br />and outdoor swimming pool to the bond question. <br /> <br />Keany asked when the ballot title would be set. City Attorney Light explained that the <br />question is the ballot title. <br /> <br />Keany asked if there is a period when the public can protest the ballot title. Light stated <br />that after July 16, 2002 there would be a protest period, after which, the City Clerk would <br />certify the ballot contents to the County Clerk. <br /> <br />MOTION: Sisk moved that Ordinance No. 1392, Series 2002, as revised, be sent out for <br />publication and a public hearing be set for July 16, 2002, seconded by Brown. All in <br />favor. Levihn excused. <br /> <br />RESOLUTION NO. 24, SERIES 2002, A RESOLUTION APPROVAL A FINAL <br /> SUBDIVISION PLAT FOR THE LOVRIEN SUBDIVISION <br /> <br />Davidson called for Staff presentation. <br /> <br />Principal Planner Ken Johnstone reviewed that; Resolution No. 24, Series 2002 is the <br />approval of a final subdivision plat for the Lovrien subdivision. He explained that it is a <br /> <br /> <br />