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Page 3 <br />A. The completion of South Boulder Road from <br />Washington Avenue to McCaslin Boulevard <br />B. An aggressive street repair and maintenance <br />program including chip sealing, street <br />reconstruction and repair, and overlays <br />C. Commencement of storm drainage program <br />D. Continuation of street/sidewalk repair and <br />maintenance program <br />E. Replacement of cemetery waterline <br />F. Traffic signal installation at McCaslin Blvd. <br />and South Boulder Road <br />G. Tree and street median improvements <br />H. Upgrading of existing ballfields <br />I. Irrigation system for Pirates Park <br />Provisions have been made for all bond and interest payments <br />as well as obligations relating to land payments and leasing of <br />vehicles, equipment and buildings. The 1987 Budget details the <br />debt position of the City. The General Obligation Bond limit for <br />Louisville set by the State of Colorado is three percent (3%) of <br />the City's actual valuation. In 1986 this valuation is <br />$247,226,160 thereby permitting a debt limit of $7,416,785. The <br />City currently has no outstanding General Obligation debt and <br />none is proposed for Budget Year 1987. <br />Finally, the proposed 1987 Budget is geared for the <br />effective and efficient delivery of City services. Even though <br />several positions have been eliminated in the 1987 Budget, every <br />effort will be made to ensure the same levels of service as in <br />previous years. <br />I thank the Mayor and City Council for the time, effort and <br />interest expended in developing the 1987 Budget. I would also <br />like to thank the Department Heads and other members of the City <br />staff who assisted in the preparation of the budget. And I would <br />like to specifically acknowledge the extra effort expended by <br />Finance Director Sharon Asti-Caranci and her staff. <br />Respectfully, <br />Terry L. Hundley <br />City Administrator <br />pf <br />