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Operational Impacts of Capital Outlay As can be seen from the listing above, most of the capital outlay planned for 2010 is related to replacing or maintaining current equipment and infrastructure. There are no new property acquisitions or new facilities. There are relatively few new additions to the City’s infrastructure. Therefore, the operational impacts of the capital outlay planned for 2010 is minimal. Additional maintenance costs due to capital outlay budgeted for in 2010 are projected at less than $50,000 per year. As shown in the next chart, the City also classifies expenditures by service categories, or programs. Compliance with Taxpayer Bill of Rights (TABOR) Amendment In November 1992, Colorado voters approved an amendment to the State Constitution providing tax and spending limitations on local governments. Following the approval of TABOR, several ballot issues have been presented to the citizens of Louisville that impact the limitation: 1993 – Open space tax approved. 1994 – Open space bond issue and the use tax on residential building materials were approved. 1996 – Authorization was given for the City to receive and expend all sales and use tax revenues, exempting these revenues from the TABOR limitation. 1997 – A revenue-sharing intergovernmental agreement was approved, exempting these revenues from the TABOR limitations. 1998 – The City Council, by ordinance, declared the Golf Course Fund an enterprise under the TABOR definition. 1999 – Authorization to keep and spend the revenues collected and received during 1998 and each subsequent year from fees, state and local grants, developer contributions, intergovernmental revenues and payments in lieu of land dedications. 2001 – Approval allowing the City to keep the excess property taxes collected in 2000 and exempts all future property taxes from the TABOR limitations. 2002 – Approval of a new Lodging Excise Tax in the amount of 3% and exempting these revenues from the TABOR limitations. ïë