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RESOLUTION NO. 69 <br />SERIES 2017 <br />A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR <br />2017, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF <br />LOUISVILLE, COLORADO FOR THE 2018 BUDGET YEAR <br />WHEREAS, the City Council of the City of Louisville has adopted the <br />annual budget for the 2018 budget year in accordance with the Local <br />Government Budget Law, on November 6, 2017; and <br />WHEREAS, the amount of money necessary to balance the budget for <br />general operating purposes from property tax revenue is $3,315,910; and <br />WHEREAS, the amount of money necessary from property tax revenue to <br />balance the budget for the estimated debt service payments for the approved <br />2004 General Obligation Library bonds is $575,679; and <br />WHEREAS, the amount of money necessary from property tax revenue to <br />balance the budget for the estimated debt service payments for the approved <br />2017 General Obligation Recreation Center Bonds is $1,781,406; and <br />WHEREAS, the 2017 net valuation for assessment for the City of <br />Louisville as certified by the County Assessor is $639,643,203; and <br />WHEREAS, the City of Louisville is exempt from the statutory property tax <br />revenue limitation (5.5% limit) due to the voter approval of Ballot Issue 2A on <br />November 6, 2001; and <br />WHEREAS, the City of Louisville is exempt from the fiscal year spending <br />limitation imposed by Article X, Section 20, to the Colorado Constitution, <br />approved by the voters on November 3, 1992, due to the voter approval of Ballot <br />Issue 2A on November 6, 2001. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br />THE CITY OF LOUISVILLE, COLORADO: <br />SECTION 1. That for the purpose of meeting all general operating expenses of <br />the City of Louisville during the 2018 budget year, there is hereby levied a tax of <br />5.184 mills upon each dollar of the total valuation for assessment of all taxable <br />property within the City for the year 2017. <br />SECTION 2. That for the purpose of meeting payments for bonded indebtedness <br />of the City of Louisville during the 2018 budget year, there is hereby levied a tax <br />of 3.685 mills upon each dollar of the total valuation for assessment of all taxable <br />property within the City for the year 2017. <br />Resolution No. 69, Series 2017 <br />Page 1 of 2 <br />51 <br />