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RESOLUTION NO. 54 <br />SERIES 2024 <br />A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR <br />2024, TO HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE CITY OF <br />LOUISVILLE, COLORADO FOR THE 2025 BUDGET YEAR <br />WHEREAS, the City Council of the City of Louisville has adopted the annual <br />budget for the 2025 budget year in accordance with the Local Government Budget <br />Law, on November 4, 2024; and <br />WHEREAS, the amount of money necessary to balance the budget for <br />general operating purposes from property tax revenue is $5,168,562; and <br />WHEREAS, the amount of money necessary from property tax revenue to <br />balance the budget for the estimated debt service payments for the approved 2017 <br />General Obligation Recreation Center Bonds is $1,368,000; and <br />WHEREAS, the 2024 preliminary net valuation for assessment for the City <br />of Louisville as certified by the County Assessor is $994,841,440; 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, approved <br />by the voters on November 3, 1992, due to the voter approval of Ballot Issue 2A <br />on November 6, 2001. <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE <br />CITY OF LOUISVILLE, COLORADO: <br />SECTION 1. That for the purpose of meeting all general operating expenses of the <br />City of Louisville during the 2025 budget year, there is hereby levied a tax of 5.184 <br />mills upon each dollar of the total valuation for assessment of all taxable property <br />within the City for the year 2024. <br />SECTION 2. That for the purpose of meeting payments for bonded indebtedness <br />of the City of Louisville during the 2025 budget year, there is hereby levied a tax <br />of 1.375 mills upon each dollar of the total valuation for assessment of all taxable <br />property within the City for the year 2024. <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. 54, Series 2024 <br />Page 1 of 2 <br />