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<br />City Council Finance Committee <br />Meeting Minutes <br />12/14/09 <br />Page 2 of 3 <br /> <br />LETTERS REGARDING COLORADO DIVERSIFIED TRUST <br /> <br />The Finance Director provided copies of letters to the Committee sent by the <br />Office of the Mayor to State Representative Jared Polis and Senators Michael <br />Bennet and Mark Udall requesting their support of HR 467 which would require <br />Treasury Secretary Geithner to use TARP funds to purchase the Lehman <br />securities held by local governments. <br /> <br />The Committee also approved payment of $222.70 to the Boulder County <br />Treasurer's Office for coordinating assistance on behalf of 150 local governments <br />in these efforts. <br /> <br />The letters can be located on the City's website at www.louisvilleco.qov. <br /> <br />UPDATE ON BANKING SERVICES RFP <br /> <br />The Finance Director updated the Committee on pre-bid conference with <br />prospective bidders and that 6 banks submitted Letters of Intent. <br /> <br />Mayor Sisk recused himself from the meeting during these discussions. <br /> <br />A listing of the banks that will be submitting proposals for review can be located <br />on the City's website at www.louisvilleco.qov. <br /> <br />SALES TAX REPORT FOR THE PERIOD ENDED OCTOBER 31, 2009 <br /> <br />The Tax Manager presented the October 31,2009 Sales Tax Report. The report <br />and the corresponding narrative can be located on the City's website at <br />www.louisvilleco.qov. The Tax Manager provided the Committee with <br />information on the 2010 tax rate and vendor fee changes approved by other <br />cities, counties and special districts for the first half of 2010. <br /> <br />The Committee discussed the benefits of a consumer use tax during which some <br />concerns were expressed, including: allowing a base exemption, offering <br />assistance to small business owners, and in the event of passage, that the City <br />implement a streamlined process that would be as business friendly as possible. <br /> <br />REVENUE TREND DASHBOARD - DECEMBER 11, 2009 PROJECTIONS <br /> <br />The Finance Director presented current trend analysis and projections for various <br />revenue sources summarized in a revenue trend "dashboard" report. This report <br />can be located on the City's website at www.louisvilleco.qov. <br /> <br />FINANCIAL STATEMENTS FOR THE PERIOD ENDING NOVEMBER 30,2009 <br /> <br />3 <br />