City Council Agenda and Packet 2000 10 17

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RESOLUTION N0.61 SERIES 2000 A RESOLUTION ENCOURAGING CITIZENS TO VOTE `NO' ON STATE INITIATIVE AMENDMENT 21 ON NOVEMBER 7, 2000. WHEREAS, the City Council for the City of Louisville has instituted an annual budgeting process that complies with the Taxpayers Bill of Rights (TABOR) and effectively utilizes the revenues that aze generated by the taxpayers of Louisville; and WHEREAS, if Amendment 21 is approved, the City will experience a total tax reduction of $1,684,570; resulting in decreased revenues of $1,333,593 in the General Fund, $251,589 in the Capital Projects Fund, and $99,388 in the Conservation Trust -Land Acquisition Fund; and WHEREAS, if Amendment 21 is approved, the City will experience revenue reductions of $1.96 million in 2002, $2.39 million in 2003, $2.55 million in 2004 and $2.71 million in 2005 based upon the tax cuts that are required by the provisions of Amendment 21 in future years; and WHEREAS, the lost revenues in these amounts will have a direct and significantly negative impact on the City's ability to provide capital improvements and services for the citizens and businesses in Louisville in 2001 and future years; and WHEREAS, if Amendment 21 is approved, city services such as recreational programs, library, parks and trails, and staffing to provide services would be reduced; and WHEREAS, if Amendment 21 is approved, such capital improvements such as streets, parks, trails, open space purchases, and drainage facilities would be reduced; and WHEREAS, if Amendment 21 is approved, it would impose automatic, multiple, and permanent tax cuts, and in ever increasing amounts each year in perpetuity; and WHEREAS, if Amendment 21 is approved, city events such as the 4''' of July Celebration and the Fall Festival (Labor Day) would he eliminated. 1