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Hundley stated unequivocally that "there is no <br />budget crisis in the City of Louisville for the <br />1987 Budget year. The City can and will operate <br />within the existing revenues for its on-going <br />operations." "However, the City's Capital <br />Improvement Fund does need help just to maintain <br />the City's infrastructure. It has made matters <br />worse that we have lost $100,000 in revenue <br />sharing funds this year (used in the past for <br />street sweepers, dump trucks, and other <br />equipment)." Hundley stated that any increase <br />proposed is to make up for this loss of revenue <br />and other need CIP projects. <br />Hundley outlined the items of major importance <br />provided for in the proposed 1987 Budget which <br />includes increasing the City's revenues through a <br />marginal increase in property taxes and a proposed <br />use tax (which must be approved by the voters at <br />an election to be held in early 1987). Without <br />these increases to the City's revenue, key <br />projects would have to be eliminated including <br />storm drainage, street repair and maintenance, <br />parks and trails systems, etc. <br />Hundley stated that the net affect of the increase <br />in revenues would be to eliminate the growth <br />dependency in the General Fund entirely, reduce <br />the City's dependency in the CIP and provide <br />additional revenues to complete needed City-wide <br />projects. Major projects the City will be <br />initiating this year include the construction of a <br />new water storage tank needed to provide better <br />service to existing residents in Louisville as <br />well as to meet further demands in the future, the <br />completion of the new wastewater treatment plant, <br />the completion of So. Boulder Rd. from Washington <br />to McCaslin, street repair and chip sealing, the <br />commencement of a storm drainage project, <br />replacement of the cemetery water line and the <br />installation of traffic signals at McCaslin and <br />So. Boulder Rd. <br />Hundley concluded by statingthat the 1987 Budget <br />that Council developed is geared toward efficient <br />and effective delivery of services to Louisville <br />residents. <br />Mayor Pro Tem Mohr asked for any public comments <br />regarding the proposed 1987 Budget. None. <br />Anderson stated that the patience by staff in <br />helping Council with the preparation of the budget <br />was greatly appreciated. Anderson feels that the <br />level of service for the residents and employees <br />6 <br />