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shall be collected and paid, an additional sales tax of one -eighth of one percent of <br />the purchase price of tangible personal property at retail or the furnishing of <br />services, as authorized at the November 4, 2008 election. <br />B. Subsection D of Section 3.20.600 of the Louisville Municipal Code is hereby <br />amended to read as follows (words added are underlined; words deleted are stFieken <br />through) <br />Sec. 3.20.600. Sales tax —Capital improvement fund. <br />D. Revenues from the temporary % percent sales tax imposed for the <br />ten-year period beginning on January 1, 2014 208 shall be used exclusively for <br />the acquisition of land in and around the city for open space buffer zones, trails, <br />wildlife habitats, wetlands preservation and future parks; and for the development, <br />construction, operation and maintenance of such open space zones, trails, wildlife <br />habitats, wetlands and parks. <br />Section 2. Total City tax revenues are estimated to increase by up to $1,500,000 in <br />the first full year in which the sales tax provided for in this ordinance is in effect. However, the <br />revenues from said sales tax may be collected and spent, regardless of whether said revenues, in <br />any year after the first full year in which said sales tax is in effect, exceed the estimated dollar <br />amount stated above, and without any other limitation or condition, and without limiting the <br />collection or spending of any other revenues or funds by the City of Louisville, under Article X, <br />Section 20 of the Colorado Constitution or any other law. <br />Section 3. This ordinance shall not take effect unless and until a majority of the <br />registered voters voting at the special municipal election on November 6, 2012 vote "yes" in <br />response to the following ballot title: <br />SHALL CITY OF LOUISVILLE TAXES BE INCREASED $1,500,000 IN 2014 <br />AND THEN ANNUALLY BY WHATEVER ADDITIONAL AMOUNTS ARE <br />RAISED THEREAFTER FROM THE CONTINUATION OF THE SALES TAX <br />OF 0.375 PERCENT BEGINNING JANUARY 1, 2014 AND EXPIRING TEN <br />YEARS AFTER SUCH DATE; WITH THE NET PROCEEDS OF SUCH SALES <br />TAX TO BE COLLECTED, RETAINED AND, SPENT EXCLUSIVELY FOR <br />THE ACQUISITION OF LAND IN AND AROUND THE CITY OF LOUISVILLE <br />FOR OPEN SPACE BUFFER ZONES, TRAILS, WILDLIFE HABITATS, <br />WETLANDS PRESERVATION AND FUTURE PARKS; AND FOR THE <br />DEVELOPMENT, CONSTRUCTION, OPERATION AND MAINTENANCE OF <br />SUCH OPEN SPACE ZONES, TRAILS, WILDLIFE HABITATS, WETLANDS <br />AND PARKS; AND SHALL THE CITY BE PERMITTED TO COLLECT, <br />RETAIN AND EXPEND ALL REVENUES DERIVED FROM SUCH SALES <br />TAX AS A VOTER -APPROVED REVENUE CHANGE AND AN EXCEPTION <br />TO LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, <br />ordinance No. 1617, Series 2012 <br />Page 3 of 5 <br />