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ORDINANCE NO. 1539 SERIES 2008 AN ORDINANCE OF THE CITY iCOUNCIL OF THE CITY OF LOUISVILLE, COLORADO, CONSENTING TO THE IMPROVEMENT OF PROPERTIES WITHIN THE CITY BY THE COUNTY OF BOULDER, COLORADO, FOR RENEWABLE ENERGY SYSTEMS AND ENERGY EFFICIENCY PROJECTS; AND PROVIDING AN EFFECTIVE: DATE. WHEREAS, pursuant to Part 6 of Article 20 of Title 30, Colorado Revised Statutes, as amended (the "Act"), Boulder County is authorized to initiate a local improvement district for the purpose of encouraging, accommodating, and financing Renewable Energy Improvements and Energy Efficiency Improvements (both as defined in the Act); and WHEREAS, the County desires to encourage, accommodate and provide financing for Renewable Energy Improvements and Energy Efficiency Improvements ("RE/EEI") in the County (the "Project") and accordingly expects to initiate a local improvement district to be known as Boulder County Clean Energy Options Local Improvement District (the "District") pursuant to the Act for the purpose of accomplishing the Project, including paying all costs necessary and incidental thereto; and WHEREAS, the City Council of the City of Louisville, Colorado, (the "Council") finds as follows: • coal and natural gas are the principal sources of generation of commercial quantities of electric energy for the power grid in the western United States, and home and business consumption accounts for 73% of the overall usage of electric energy; and • although new building codes can impact energy usage in new structures, there is a vast quantity of existing sfiuctures with many years of remaining life before replacement, and these structures are not very energy efficient by today's standards, nor do they have renewable energy systems installed to provide some or all of their electric energy needs; and • if the United States is serious about moving away from fossil fuels in order to limit the greenhouse gas effect leading to global warming, the existing occupied building stock must be retrofitted with energy efficiency materials and modalities, and significant progress towards provision of alternative electric energy for use in these structures must take place very soon; and • solving this problem will require creative ways of financing that will provide incentives for property owners to seek to install RE/EEI now rather than later; and • existing homeowners, acid to a certain extent business property owners, are highly leveraged on their properties currently. Even if there is equity available to further