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RESOLUTION NO. 37, Series 2002 <br /> <br />A RESOLUTION OF INTENT OF THE CITY COUNCIL OF THE CITY OF <br />LOUISVILLE, COLORADO REGARDING THE USE OF AN EXCISE TAX <br />ON SHORT TERM LODGING REVENUES SHOULD BALLOT ISSUE 2C <br />BE APPROVED AT THE NOVEMBER 5, 2002 SPECIAL MUNICIPAL <br />ELECTION. <br /> <br /> WHEREAS, <br />short-term lodging, <br />the City limits, and <br /> <br />the City of Louisville is experiencing significant growth in <br />as evidenced by the construction of hotels and motels within <br /> <br /> WHEREAS, the City Council of the City of Louisville has adopted an <br />ordinance referring a ballot question to the registered electors of the City at the <br />November 5, 2002 Special Municipal Election which would impose an excise tax <br />on the leasing or renting of hotel and motel rooms, and <br /> <br /> WHEREAS, it is anticipated that the sales and use tax revenues <br />generated by this and other future development will cause the revenue and <br />expenditures limitations of Article X, Section 20 of the Colorado Constitution, <br />commonly known as "TABOR", to be exceeded, and <br /> <br /> WHEREAS, TABOR Section 7(d) permits voter-approved revenue <br />changes as an offset to such excess revenues, and <br /> <br /> WHEREAS, in the first year it is estimated that $ 250,000 in excess <br />revenue would be subject to refund, and <br /> <br /> WHEREAS, the City Council of the City of Louisville believes it <br />appropriate to inform the registered electors of the Council's intent concerning <br />the purposes for which the additional revenues will be used. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of <br />Louisville, Colorado. <br /> <br /> Section 1. It is the intent of the City Council that, should Ballot Issues 2A, <br />2B and 2C be approved at the November 5, 2002 Special Municipal Election, the <br />revenues received from the excise tax will be used for the following purposes: <br /> <br />· The increased operating and maintenance costs anticipated as a <br /> result of larger and improved facilities for the Louisville Library; and <br /> <br />The increased operating and maintenance costs anticipated as a <br />result of larger and improved facilities at the Louisville <br />Recreation/Senior Center. <br /> <br /> <br />