Ordinance 2003-1423 - Laserfiche WebLink

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WHEREAS, the Boulder County Clerk and' Recorder will conduct the election on November 4, 2003 as a coordinated mail ballot election pursuant to the Uniform Election Code of 1992, as amended; and WHEREAS, the City Council finds it is in the best interest of the City to refer a TABOR ballot issue to a vote of the registered electors of the City at the November 4, 2003, municipal election pursuant to Article X, Section 20 of the Colorado Constitution. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: Section 1. The regular municipal election of the City to be held on November 4, 2003, shall be held and conducted as part of a coordinated mail ballot election to be conducted by the Boulder County Clerk and Recorder in accordance with the Uniform Election Code of 1992, as amended. ~. Pursuant to applicable provisions of the laws of the State of Colorado and the City of Louisville Home Rule Charter, the City Council hereby submits to the registered electors of the City, at such regular City election to be held on November 4, 2003 (the "election"), the ballot issue specified in Section 3 of this ordinance. Section 3. The following ballot issue, certified in substantially the form set forth below, is hereby referred to the registered electors of the City and shall appear on the ballot of the City of Louisville regular election to be held on November 4, 2003: SHALL CITY OF LOUISVILLE DEBT BE INCREASED $7,405,000, WITH A REPAYMENT COST OF $12,004,020; AND SHALL CITY OF LOUISVILLE TAXES BE INCREASED $586,400 ANNUALLY, OR BY SUCH LESSER AMOUNT AS MAY BE NECESSARY TO PAY SUCH DEBT; SUCH DEBT AND TAXES TO BE FOR THE PURPOSE OF CONSTRUCTING A NEW CITY OF LOUISVILLE LIBRARY, TO INCLUDE ALL NECESSARY LAND, EQUIPMENT, FURNISHINGS, IMPROVEMENTS AND INCIDENTALS FOR SUCH LIBRARY; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS OR BONDS ISSUED TO REFUND SUCH BONDS; SUCH TAXES TO CONSIST OF AN ADDITIONAL AD VALOREM PROPERTY TAX MILL LEVY NOT TO EXCEED 1.581 MILLS BEGINNING JANUARY 1, 2004 AND CONTINUING FOR TWENTY YEARS THEREAFTER FOR THE PURPOSE OF REPAYMENT OF SUCH DEBT; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MAXIMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT COSTS, ON TERMS AND CONDITIONS AS THE CITY COUNCIL MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A