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WHEREAS, it is the desire of the Council to limit the amount of debt to $51,420,000, which is expected to be sufficient to provide bond proceeds in an amount sufficient to fund approximately $50 million in funds to construct the Projects; and WHEREAS, it is the desire of Council to minimize the use of property taxes to repay the bonds and to maximize other sources of revenue such as sales and use tax revenue and LRC revenue, Council intends to use internal funds; and WHEREAS, in order to limit the size of the Project, it is necessary and in the best interest of the City that the Council prioritize the Projects and provide for their funding with the intent to complete all 6 in some manner within the $50 million construction budget and maximizing the leveraging of internal funds beyond bond proceeds. NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. In order to minimize the amount of property tax mill levy to be imposed on taxpayers of the City, the Council hereby affirms its current intent to utilize approximately $1.5 million of available sales and use tax revenue annually which may increase based upon annual budgetary appropriations to contribute to the annual repayment amount of any debt issued for the construction of the Project. Such amounts are subject to annual appropriation by the Council. Section 2. In order to minimize the amount of property tax mill levy to be imposed on taxpayers of the City, the Council hereby affirms its current intent to utilize between $1,250,000 and $3,000,000 annually until 2032 received from the LRC pursuant to the terms of the Cooperation Agreement to contribute to the annual repayment amount of any debt issued for the construction of the City/LRC Projects. Section 3. The Council hereby determines that the Projects shall be funded and constructed in the following order of priority; provided, however, that the Council acknowledges that changed circumstances, construction costs, availability of bond proceeds and other factors may impact this order, and that hereafter, if the Council deems necessary, one or more of the following projects may not be completed or may be replaced by a different project; and this priority list may change based on the amount of funding received by the LRC and other sources. 1. Grade separated pedestrian/bicycle crossing located in proximity to intersection of Main Street and South Boulder Road. 2. Grade separated pedestrian/bicycle crossing located in proximity to the intersection of CO State Highway 42 and Short Street. 3. Grade separated pedestrian/bicycle crossing located in proximity to the Powerline Trail and Dillon Road crossing. 4. Grade separated pedestrian/bicycle crossing located in proximity to intersection of Via Appia and South Boulder Road Resolution No. 53, Series 2021 Page 2 of 3