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CITY fL\LL 749 MAIN STREET <br />October 30, 1973 <br />To the Honorable Mayor and City. Council <br />City of Louisville, Colorado <br />.1_ SVILL <br />I_OU[SVILLE, COLORADO 5002-4 <br />PHONE 666-655_ <br />Submitted herewith is the proposed budget for the fiscal year 1974. <br />.All the specific requirements of the State of Colorado relating to the <br />City's budget have been met by this document as presented. Provision has <br />been made for all bond and interest payments. The debt position of the <br />City is detailed and summarized in the budget. The State of Colorado sets <br />the general obligation bond limit at 3% of the City's actual valuation. <br />The actual valuation of the City for budget year 1974 is $11, 496,500, <br />pe.di.tting a debt limit of $344,895. After deducting the amount outstanding <br />on the Pool Bond issue, which is $100,000, we have an available debt <br />limit of $244,895. <br />The major sources of revenue are Water and Sanitation charges, <br />Water and Sanitation Tap Fees, Federal Grants and Revenue Sharing, Building <br />Permits and Contractors Licenses, General Property and Gross Receipts Taxes; <br />as well as two new anticipated revenue sources, the Service Expansion <br />Fee, and the Use Tax provision of the Sales Tax, if the issue passes. <br />This budget adequately provides for the necessary maintenance and <br />capital improvement.programs of the City. Items of major importance <br />provided for, are as follows: <br />