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WHEREAS, pursuant to and as required by the Constitution and laws of the State <br />of Colorado, it is necessary to have voter approval of a TABOR ballot issue concerning the <br />imposition of the sales tax provided for herein, and it is also necessary to have voter <br />approval to allow funds collected through such sales tax to be reserved for and carried over <br />to subsequent years; and <br />WHEREAS, TABOR requires that the City submit ballot issues, as defined in <br />TABOR, to the City's registered electors on specified election days; and <br />WHEREAS, the City will hold a special municipal election on November 4, <br />2008, to be conducted as part of the coordinated general election, and such date is one of <br />the election dates at which TABOR ballot issues may be submitted to the registered <br />electors of the City; and <br />WHEREAS, City Council finds it is in the best interest of the City and its citizens <br />to submit to the registered electors of 'the City the question of imposing, for aten-year <br />period commencing January 1, 2009, aone-eighth of one percent (0.125%) sales tax for <br />historic preservation purposes, as further stated in this resolution. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF LOUISVILLE, COLORADO: <br />Section 1. The following ballot issue, certified in substantially the form set <br />forth below, is hereby referred to the registered electors of the City and shall appear on <br />the ballot of the City of Louisville special municipal election to be held on November 4, <br />2008: <br />SHALL CITY OF LOUISVILLE TAXES BE INCREASED $340,000 IN <br />2009 (FIRST FULL FISCAL YEAR INCREASE) AND ANNUALLY <br />THEREAFTER IN SUCH Al`/IOUNTS AS ARE RECEIVED EACH <br />YEAR FROM THE LEVY OF AN ADDITIONAL SALES TAX OF <br />ONE-EIGHTH OF ONE PERCENT (0.125%); WITH SUCH TAX TO <br />COMMENCE ON JANUARY 1, 2009 AND EXPIRE DECEMBER 31, <br />2018, WITH THE NET P:E~OCEEDS OF SUCH ONE-EIGHTH <br />PERCENT SALES TAX TO BE COLLECTED, RETAINED AND <br />SPENT EXCLUSIVELY FOR THE FOLLOWING PURPOSES WITHIN <br />HISTORIC OLD TOWN LOUISVILLE, WHICH AREA INCLUDES <br />THE "HISTORIC OLD TOWN OVERLAY DISTRICT" AND <br />"DOWNTOWN LOUISVILLE" AS DEFINED BY THE CITY ZONING <br />MAP AND ORDINANCES, II~~r ORDER TO PRESERVE THE UNIQUE <br />CHARM AND CHARACTER OF HISTORIC OLD TOWN <br />LOUISVILLE THAT IS A VITAL PART OF OUR IDENTITY AS A <br />COMMUNITY: <br />1. PROVIDE INCF',NTIVES TO PRESERVE HISTORIC <br />RESOURCES, INCLUDING FUNDING OF PROGRAMS TO <br />