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RESOLUTION NO. 68 <br /> SERIES 2010 <br /> A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR <br /> 2010, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF <br /> LOUISVILLE, COLORADO FOR THE 2011 BUDGET YEAR. <br /> WHEREAS, the City Council of the City of Louisville has adopted the <br /> annual budget for the 2011 budget year in accordance with the Local <br /> Government Budget Law, on November 1, 2010; and <br /> WHEREAS, the amount of money necessary to balance the budget for <br /> general operating purposes from property tax revenue is $2,313,528; and <br /> WHEREAS, the amount of money necessary from property tax revenue to <br /> balance the budget for the estimated debt service payments of the approved <br /> bonded debt is $681,027; and <br /> WHEREAS, the 2010 net valuation for assessment for the City of <br /> Louisville as certified by the County Assessor is $446,282,400; and <br /> WHEREAS, the City of Louisville is exempt from the statutory property tax <br /> revenue limitation (5.5% limit) due to the voter approval of Ballot Issue 2A on <br /> November 6, 2001; and <br /> WHEREAS, the City of Louisville is exempt from the fiscal year spending <br /> limitation imposed by Article X, Section 20, to the Colorado Constitution, <br /> approved by the voters on November 3, 1992, due to the voter approval of Ballot <br /> Issue 2A on November 6, 2001. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br /> THE CITY OF LOUISVILLE, COLORADO: <br /> SECTION 1. That for the purpose of meeting all general operating expenses of <br /> the City of Louisville during the 2011 budget year, there is hereby levied a tax of <br /> 5.184 mills upon each dollar of the total valuation for assessment of all taxable <br /> property within the City for the year 2010. <br /> SECTION 2. That for the purpose of meeting payments for bonded indebtedness <br /> of the City of Louisville during the 2011 budget year, there is hereby levied a tax <br /> of 1.526 mills upon each dollar of the total valuation for assessment of all taxable <br /> property within the City for the year 2010. <br /> SECTION 3. That the City Clerk is hereby authorized and directed to immediately <br /> certify to the County Commissioners of Boulder County, Colorado, the mill levies <br /> for the City of Louisville as herein above determined and set. <br /> Resolution No. 68, Series 2010 <br /> Page 1 of 2 <br />