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The Tabor Amendment excludes activities or funds considered to be "enterprises." The <br />classification of an "enterprise" under Tabor Amendment is based on three criteria: (1) The <br />entity be considered a government owned business; (2) the entity be authorized to issue <br />its own revenue bonds; (3) the entity receive under 10% of its annual revenue in grants <br />from all Colorado and local governments combined. The 1998 Tabor calculations <br />represent the exclusion of the City's water utility fund and sewer utility fund, as approved <br />by Ordinance No. 1167 and 1168, Series 1994 declaring these funds as "enterprises" <br />under the Tabor Amendment definition. <br />Summary <br />The 1998 budget is funded by a stable revenue stream, and addresses quality of life issues <br />as well as fiscal responsibility. The Council has focused on projects such as street <br />improvements, beautification, trails, and underpasses, as well as early debt retirement that <br />will benefit the citizens of Louisville well into the future. <br />In closing, I would like to recognize the Director of Finance, Dianne Ray, and the staff of <br />the Finance Department for their effort in preparing the 1998 budget. The staff of the City <br />of Louisville is committed to ensuring that Louisville is the best and safest place to live and <br />work. <br />Respectfully submitted, <br />A.( <br />William A. Simmons <br />City Administrator <br />