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ORDINANCE NO. 1391 SERIES 2002 AN ORDINANCE CALLING A SPECIAL ELECTION FOR NOVEMBER 5, 2002, TO BE CONDUCTED AS A COORDINATED ELECTION, AND SUBMITTING TO THE REGISTERED ELECTORS OF THE CITY A BALLOT ISSUE CONCERNING INCREASES IN CITY DEBT AND PROPERTY TAXES FOR THE PURPOSE OF CONSTRUCTING, EXPANDING AND RENOVATING RECREATIONAL AND CULTURAL FACILITIES WHEREAS, the City of Louisville (the "City"), is a Colorado home rule municipal corporation duly organized and existing under laws of the State of Colorado and the City Charter (the "City Charter"); and WHEREAS, the members of the City Council of the City (the "City Council") have been duly elected and qualified; and WHEREAS, Article X, Section 20 of the Colorado Constitution, also referred to as the Taxpayer's Bill of Rights ("TABOR") requires voter approval for any new tax, any increase in any tax rate, the creation of any debt, and the spending of certain funds above limits established by TABOR; and WHEREAS, pursuant to Article 12 and Section 4-8 of the City Charter, the City may authorize the issuance of bonds, the imposition of new taxes and the increase of a tax rate by ordinance and upon approval of the registered electors of the City; and WHEREAS, the City Council is of the opinion that the City should issue bonds and increase the City's property tax mill levy for the payment of such bonds, as further stated in this ordinance; and WHEREAS, TABOR requires that the City submit ballot issues, as defined in TABOR, to the City's registered electors on specified election days before action can be taken on such ballot issues; and WHEREAS, November 5, 2002, is one of the election dates at which TABOR ballot issues may be submitted to the registered electors of the City pursuant to TABOR; and WHEREAS, the Boulder County Clerk and Recorder will conduct the election on November 5, 2002 as a coordinated election pursuant to the Uniform Election Code and, in particular, C.R.S. Section 1-7-116; and