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<br />WHEREAS, the Boulder County Clerk and Recorder will conduct the election on <br />November 4, 2003 as a coordinated mail ballot election pursuant to the Uniform Election Code <br />of 1992, as amended; and <br /> <br />WHEREAS, the City Council finds it is in the best interest of the City to refer a TABOR <br />ballot issue to a vote of the registered electors of the City at the November 4, 2003, municipal <br />election pursuant to Article X, Section 20 of the Colorado Constitution. <br /> <br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br /> <br />Sedion 1. The regular municipal election of the City to be held on November 4, <br />2003, shall be held and conducted as part of a coordinated mail ballot election to be conducted by <br />the Boulder County Clerk and Recorder in accordance with the Uniform Election Code of 1992, <br />as amended. <br /> <br />Sedion 2. Pursuant to applicable provisions of the laws of the State of Colorado and <br />the City of Louisville Home Rule Charter, the City Council hereby submits to the registered <br />electors of the City, at such regular City election to be held on November 4, 2003 (the <br />"election"), the ballot issue specified in Section 3 of this ordinance. <br /> <br />SHALL CITY OF LOUISVILLE DEBT BE INCREASED $7,405,000, WITH A <br />REPAYMENT COST OF $12,004,020; AND SHALL CITY OF LOUISVILLE <br />TAXES BE INCREASED $586,400 ANNUALLY, OR BY SUCH LESSER <br />AMOUNT AS MAY BE NECESSARY TO PAY SUCH DEBT; SUCH DEBT <br />AND TAXES TO BE FOR THE PURPOSE OF CONSTRUCTING A NEW CITY <br />OF LOUISVILLE LIBRARY, TO INCLUDE ALL NECESSARY LAND, <br />EQUIPMENT, FURNISHINGS, IMPROVEMENTS AND INCIDENTALS FOR <br />SUCH LIBRARY; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF <br />BONDS OR BONDS ISSUED TO REFUND SUCH BONDS; SUCH TAXES TO <br />CONSIST OF AN ADDITIONAL AD VALOREM PROPERTY TAX MILL <br />LEVY NOT TO EXCEED 1.581 MILLS BEGINNING JANUARY 1,2004 AND <br />CONTINUING FOR TWENTY YEARS THEREAFTER FOR THE PURPOSE <br />OF REPAYMENT OF SUCH DEBT; SUCH BONDS TO BE SOLD IN ONE <br />SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE <br />MAXIMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT <br />COSTS, ON TERMS AND CONDITIONS AS THE CITY COUNCIL MAY <br />DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE <br />BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A <br /> <br />I- <br />w <br />~ <br />\J <br />< <br />a.. <br /> <br />Sedion ~. The following ballot issue, certified in substantially the form set forth <br />below, is hereby referred to the registered electors of the City and shall appear on the ballot of the <br />City of Louisville regular election to be held on November 4,2003: <br /> <br />2 <br />