2006 BUDGET (353 pgs) - Laserfiche WebLink

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L. The City of Louisville will continue to provide for the Community's health and safety by maintaining or enhancing basic services, including, but not limited to roads, water, sewer, storm drainage and police services. M. The City of Louisville will continue to remain true to a rich heritage that values excellence in education, celebrates cultural diversity, supports a broad spectrum of arts, and respects the natural environment. Compliance with TABOR Amendment In November 1992, Colorado voters approved an amendment to the State Constitution providing tax and spending limitations on local governments. Following the approval of TABOR, several ballot issues have been presented to the citizens of Louisville that impact the limitation. These include: 1993 - Open space tax approved. 1994 - Open space bond issue and the use tax on residential building materials were approved. 1996 - Authorization was given for the City to receive and expend all sales and use tax revenues, exempting these revenues from the TABOR limitation. 1997 - A revenue -sharing intergovernmental agreement was approved, exempting these revenues from the TABOR limitations. 1998 - The City Council, by ordinance, declared the golf course and enterprise under the TABOR definition. 1999 - Authorization to keep and spend the revenues collected and received during 1998 and each subsequent year from fees, state and local grants, developer contributions, intergovernmental revenues and payments in lieu of land dedications. 2001 - Approval allowing the City to keep the excess property taxes collected in 2000 and exempts all future property taxes from the TABOR limitations. 2002 - Approval of a new Lodging Excise Tax in the amount of 3% and exempting these revenues from the TABOR limitations. 2002 - Extension of the open space tax for another ten years beginning on January 1, 1994 and ending on December 31, 2013 and exempting these revenues from the TABOR limitations. 2003 - Library bond issue and the additional mill levy not to exceed 1.581 were approved. 2004 - No TABOR ballot issues were presented to the Citizens of Louisville in the 2004 election. The City of Louisville's 2006 budget reflects compliance with the provisions of the TABOR Amendment. Under the TABOR Amendment, all taxes (except as previously noted), licenses and permits, charges for services, fines and forfeitures, and miscellaneous revenue (except developer contributions and payments in lieu of land dedications) are part of the limitation calculation. Transfers into the fund and debt viii