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<br />TO: <br />FROM: <br /> <br />DATE: <br /> <br />SUBJECT: <br /> <br />COUNCIL COMMUNICATION <br />MAYOR AND CITY COUNCIL <br /> <br />WILLIAM A. SIMMONS, CITY MANAGER <br /> <br />July 26,2003 <br /> <br />Ordinance No. 1424, Series 2003 - An Ordinance Providing For The Extension For A <br />Ten-Year Period Beginning On January 1, 2004, Of The City's 3.0 Percent Use Tax <br />Upon The Use Or Consumption Of Residential Construction And Building Materials <br />Purchased At Retail, For Purposes Of Furthering The Acquisition, Construction, <br />Improvement, Or Expansion Of Capital Facilities Owned By The City Or The Boulder <br />Valley School District Re-2 Located Within The City And Benefitting Youth Within <br />The Community; And Providing For The Submission Of The Ordinance To A Vote <br />Of The Registered Electors At The Regular Municipal Election To Be Held <br />November 4, 2003- Public Hearing And Second Reading <br /> <br />ORIGINATING DEPARTMENT: City Manager's Office <br /> <br />SUMMARY: <br />Attached is Ordinance No. 1424, Series 2003, setting an election question which would <br />allow the City to continue to receive a 3% use tax on purchase of building materials for <br />residential property, the revenues of which would be used to fund youth-related <br />activities. This ordinance would continue the use tax previously approved by the I- <br />Louisville voters in 1994, and commonly referred to as the "school tax". The use tax was W <br />originally approved to generate funding for a new high school (Monarch) to be built in ~ <br />Louisville. Since that school was constructed, the purposes for the use tax have been \J <br />expanded and funding has been provided for playground equipment, technology, < <br />auditorium equipment and other items. The ballot question would reflect this change in a.. <br />intent for the use tax, allowing expenditures "for purposes determined by the city council <br />to further the acquisition, construction, improvement, or expansion of capital facilities, <br />capital projects or equipment which are located within the City, which are owned by the <br />City or the Boulder Valley School District RE-2, and which benefit youth within the <br />community". Because the question expands the scope for which the tax revenues can <br />be used, the question is referred to as a new tax rather than a continuation, in <br />accordance with TABOR requirements. The existing use tax will end December 31, <br />2003. If approved, the continuation of the tax will sunset after ten years. <br /> <br />IE <br /> <br />SUBJECT <br /> <br />AGENDA ITEM <br /> <br />Ordinance No. 1424, Series 2003 - Ordinance No. 1424, Series 2003 - An <br />Ordinance Providing For The Extension For A Ten-Year Period Beginning <br />On January 1, 2004, Of The City's 3.0 Percent Use Tax Upon The Use Or <br />Consumption Of Residential Construction And Building Materials <br />Purchased At Retail, For Purposes Of Furthering The Acquisition, <br />Construction, Improvement, Or Expansion Of Capital Facilities Owned By <br />The City Or The Boulder Valley School District Re-2 Located Within The City <br />And Benefitting Youth Within The Community; And Providing For The <br />Submission Of The Ordinance To A Vote Of The Registered Electors At The <br />Regular Municipal Election To Be Held November 4, 2003- Public Hearing <br />And Second Reading 2nd reading - public hearing (published Daily Camera <br />7/13/03, 7/20/03, 7/23/03) 58 <br />