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3. For the ten-year period beginning on January 1, 2024, <br />there is hereby levied, and there shall be collected and <br />paid, an additional sales tax of one -eighths of one percent <br />(0.125%) of the purchase price of tangible personal <br />property at retail or the furnishing of services, as <br />authorized at the November 7, 2023 election. <br />B. Subsection D of Section 3.20.600 of the Louisville Municipal Code is <br />hereby amended to read as follows (words added are underlined; words deleted <br />are stricken through): <br />Sec. 3.20.600. Sales tax —Capital improvement fund. <br />D. Revenues from the temporary % 0.375 percent sales tax <br />imposed for the ten-year period beginning on January 1, 2024 2014 shall <br />be used exclusively for the following purposes: <br />1. one-half of such revenues shall be used for acquisition <br />of land in and around the city for open space buffer <br />zones, trails, wildlife habitats, wetlands preservation <br />and fit a parks; and for the development, <br />construction, operation and maintenance of such open <br />space zones, trails, wildlife habitats, and wetlands aPA <br />ems. <br />2. one-half of such revenues shall be used for acquisition <br />of land in and around the city for parks; and for the <br />development, construction, operation and <br />maintenance of parks. <br />C. Section 3.20.600 of the Louisville Municipal Code is hereby amended <br />by the addition of a new subsection F to read as follows: <br />Sec. 3.20.600. Sales tax —Capital improvement fund. <br />F. Revenues from the 0.125 percent sales tax approved at the <br />November 7, 2023 election shall be used exclusively for open space <br />acquisition, irr,ont, restoration, preservation, protection, and <br />maintenance, and mitigation of wildfires in open space areas. <br />Section 2. Total City sales tax revenues are estimated to increase by up to <br />$1,500,000 in the first full year in which the sales tax provided for in this ordinance is in <br />effect. However, the revenues from said sales tax may be collected and spent, regardless <br />of whether said revenues, in any year after the first full year in which said sales tax is in <br />effect, exceed the estimated dollar amount stated above, and without any other limitation <br />or condition, and without limiting the collection or spending of any other revenues or funds <br />Ordinance No. 1854, Series 2023 <br />Page 4of7 <br />