City Council Minutes 2004 01 06 - Laserfiche WebLink

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Louisville City Council Meeting January 6, 2004 Page 9 of 12 Mayor Pro Tem Sisk stated the City has worked to comply with Senate Bill 15, and suggested Council look at development on a case-by-case basis. He urged Council to support the ordinance. Terry O'Connor stated there are cases when a building may be partially occupied and the use of the balance of the building is not determined. He asked how it would be assessed, and suggested it should not be assessed at all. He presented an example of CTC putting a new road through 104th, which benefits the City, but at the expense of the developer. Jon Lee voiced his concern the Impact Fee would have a negative affect on commercial development. Mayor Davidson called for public comment and hearing none, closed the public hearing. City Attorney Light requested the letters from Koebel & Company and Mr. Jon Lee, and the arterial street map be made a part of the record. Mayor Davidson ordered the record reflect the admission of the letters and the arterial map. MOTION: Mayor Pro Tem Sisk moved that Council approve Ordinance No. 1436, Series 2003, seconded by Council member Van Pelt. Roll call vote was taken. The motion passed by a vote of 6-1. Mayor Davidson voted no. ORDINANCE NO. 1437, SERIES 2004 - AN EMERGENCY ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF LOUISVILLE COLORADO LIMITED TAX GENERAL OBLIGATION LIBRARY BONDS - 1st reading - public hearing) Mayor Davidson called for City Attorney introductions. City Attorney Sam Light read Ordinance No. 1434, Series 2004. Mayor Davidson opened the public heating and called for Staff presentation. Charlene Laus reviewed that Ordinance No. 1437, Series 2004 is an emergency ordinance and authorizes the issuance of City of Louisville Colorado Limited Tax General Obligation Library Bonds. The ordinance is specifically for the issuance of the bonds that were approved by the voters at the November 2003 election for the construction of the new library and is being presented as an emergency ordinance so that the sale and closing can occur as soon as the necessary documents are completed. She explained the debt market is experiencing very low interest rates at this time and Staff believes it is in the best interest of the citizens of Louisville to take advantage of low rates and not delay the sale of the bonds. She explained the ordinance authorizes the City Manager or Finance Director to proceed with the sale of the bonds and accept the sale as long as the final terms are within the parameters set in the ordinance. The main parameters are as follows: Principal Amount of Bonds not to exceed $7,405,000, Maximum Net Effective