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<br />ORDINANCE NO. 1119 <br />SERIES 1993 <br /> <br />AN ORDINANCE IMPOSING A TEMPORARY SALES AND USE TAX <br />INCREASE FOR THE ACQUISITION OF LAND FOR OPEN SPACE <br />BUFFER ZONES, TRAILS, WILDLIFE HABITATS, WETLANDS <br />PRESERVATION AND FUTURE PARKS. <br /> <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, <br />COLORADO: <br /> <br />Section 1. The following ordinance of the City of <br />Louisville, Colorado, is hereby adopted to read: <br /> <br />WHEREAS, the residents of Louisville currently desire the <br />acquisition of land for open space, and <br /> <br />WHEREAS, the residents of Louisville recognize the importance <br />of planning, both financially and geographically, for open space to <br />balance our remaining planning areas, and <br /> <br />WHEREAS, the City of Louisville must comply with the <br />Constitution of the State of Colorado, it is necessary to have <br />voter approval to allow funds collected through a city tax to be <br />reserved for and carried over to subsequent years, and <br /> <br />WHEREAS, a sufficient number of qualified electors of the City <br />of Louisville, Colorado have signed this petition, the City of <br />Louisville shall adopt the following: <br /> <br />AN ORDINANCE TO INCREASE THE CITY OF LOUISVILLE'S SALES <br />AND USE TAX BY 3/8% TO GO INTO EFFECT ON JANUARY 1, 1994 <br />AND EXPIRE 10 YEARS FROM THAT DATE; THIS INCREASE WILL <br />PRODUCE APPROXIMATELY $500,000 DOLLARS IN THE FIRST YEAR <br />OF ADOPTION, THE CITY OF LOUISVILLE SHALL BE ENTITLED TO <br />COLLECT AND SPEND THE REVENUES FROM SUCH TAX INCREASE <br />WITHOUT LIMITATION OR CONDITION UNDER ARTICLE X, SECTION <br />20 OF THE COLORADO CONSTITUTION. THIS SALES AND USE TAX <br />PERCENTAGE INCREASE WILL BE USED EXCLUSIVELY FOR THE <br />ACQUISITION OF LAND, THIS LAND WILL BE PURCHASED IN AND <br />AROUND THE CITY OF LOUISVILLE FOR OPEN SPACE BUFFER <br />ZONES, TRAILS, WILDLIFE HABITATS, WETLAND PRESERVATION <br />AND FUTURE PARKS, WHERE AND WHEN DEEMED COST EFFECTIVE, <br />THE CITY OF LOUISVILLE MAY ENTER INTO THESE PURCHASES OF <br />LAND IN COOPERATION WITH OTHER GOVERNMENT AGENCIES, THIS <br />ORDINANCE ENACTED BY A VOTE OF THE ELECTORS OF THE CITY <br />OF LOUISVILLE WILL ALLOW UNUSED MONIES GAINED FROM THIS <br />TAX INCREASE TO BE CARRIED OVER TO SUBSEQUENT YEARS IN <br /> <br />1 <br />