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L <br />City of Louisville <br />749 Main Street Louisville, Colorado 80027 666 - 6565 <br />October 2, 1979 <br />Mayor John P. Waschak <br />City Council Members <br />City of Louisville <br />749 Main Street <br />Louisville, Colorado 80027 <br />Dear Sirs: <br />Submitted herewith is the proposed Budget for the fiscal year 1980. <br />The specific requirements of the State of Colorado relating to Munici- <br />pal Budgeting have been met by this document as presented. <br />Provision has been made for all bond and interest payments as well <br />as obligations relating to land payments and the leasing of vehicles, <br />equipment and buildings. The debt position of the City is detailed <br />and summarized in the budget. The General Obligation Bond limit is <br />set by the State of Colorado at three (3%) percent of the City's <br />actual valuation, which for the budget year 1980 is $51,596,900 per- <br />mitting a debt limit of $1,547,907 after deducting the amount out- <br />standing on the Pool Bond issue which is $60,000, we have an available <br />debt limit of $1,487,907. Water and Sewer Bonds do not apply to this <br />limit. <br />The major sources of revenues reflected in this budget are: <br />1. Property Taxes <br />2. Sales Taxes <br />3. Service Expansion Fees <br />4. Charges for Service Fees <br />5. Construction Permits <br />6. Federal and State Grants <br />7. Water Charges and Tap Fees <br />8. Sewer Charges and Tap Fees <br />This budget does not provide for many programs, that in my opinion, <br />the City needs. <br />I <br />