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ORDINANCE NO. 1515 SERIES 2007 AN ORDINANCE REPEALING CHAPTER 3.12 OF THE LOUISVILLE MUNICIPAL CODE CONCERNING TAX R>E;LIEF FOR THE ELDERLY, AND MAHING AMENDMENTS TO THE C[TX'S WATER USE REBATE PROGRAM FOR QUALIFYING SENIORS WHEREAS, pursuant to Ordinance No. 430, Series 1973, the City previously established a program for financial assistance payments to qualifying residents of the City; and WHEREAS, such program was amended by Ordinance No. 768, Series 1982, Ordinance No. 815, Series 1983, and Ordinance No. 1459, Series 2004, and the provisions of the program are codified in Chapter 3.12 of the Louisville Municipal Code; and WHEREAS, such program consists of limited financial assistance payments to qualifying residents of an amount equal to a designated portion of the ad valorem property taxes levied by the City and actually paid on ithe dwelling owned or rented by such qualifying resident; and WHEREAS, in order to more effectively focus assistance payments on Louisville residents whose income may not be sui;ficient to meet basic needs, the City Council finds that it is appropriate to discontinue this financial assistance payment program as set forth in Chapter 3.12 of the Louisville Municipal Code, which discontinuance will result in a savings of general revenues otherwise expended for the; program; and WHEREAS, the City Council finds that discontinuance of such City-funded financial assistance payment program will not result in any increase in the City's mill levy, any increase in property taxes paid by residents, or .any increase in property tax revenues collected and paid over to the City by the County treasurer, anti that discontinuance of such program will not result in a net tax revenue gain within the meaning of Article X, Section 20 of the Colorado Constitution; and WHEREAS, the City Council by this Ordinance desires to make certain amendments to the City's "water rebate program" .and to recodify such program into the Chapter 13.12 of the Louisville Municipal Code; NOW THEREFORE BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLOFtAI)O: Section 1. Chapter 3.12 of the Louisville Municipal Code is hereby repealed in its entirety. No payments shall be made pursuant to Chapter 3.12 of the Louisville Municipal Code from and after the effective date of this Ordinance. Section 2. Ordinance No. 430, Series 1973, Ordinance No. 768, Series 1982, Ordinance No. 815, Series 1983, and Ordinance No. 1459, Series 2004, are hereby repealed, it 1