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02 <br />111111444 <br />October 25, 1974 <br />To the Honorable Mayor & City Council <br />City of Louisville, Colorado <br />Ladies & Gentlemen: <br />Submitted herewith is the proposed budget for the fiscal year <br />1975. All the specific requirements of the State statutes of <br />Colorado relating to Municipal budgeting have been met by the <br />document as presented. <br />Provision has been made for all bond and interest payments, <br />as well as, all obligations relating to the leasing of vehicles, <br />equipment and buildings. The debt position of the City is detailed <br />and summarized in the budget. The State of Colorado sets the <br />General Obligation bond limit at three (3) percent o-f the City's <br />actual valuation, which for budget year 1975 is $13,156,133 per- <br />mitting a debt limit of $394,683, after deducting the amount out- <br />standing on the Pool Bond issue which is $98,000, we have an avail- <br />able debt limit of $296,683. <br />(Outstanding water bonds do not apply to the bond limit.) <br />