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2013 <br /> OPERATING PLAN AND BUDGET FOR THE <br /> MAIN STREET LOUISVILLE BUSINESS IMPROVEMENT DISTRICT <br /> INTRODUCTION <br /> The Main Street Louisville Business Improvement District ("BID") was organized by <br /> • City of Louisville Ordinance Number 1342, Series 2000 on August 15, 2000 ("Organizational <br /> Ordinance"). <br /> By state statute, specifically Section 31-25-1211, C.R.S., by September 30 of each year, <br /> the BID is required to submit an operating plan and budget to the City for review and approval. <br /> Over the years, the Board has held a series of Board meetings to discuss the future of the <br /> BID, the possibility of a TABOR election, and inclusion of additional property in the District; <br /> however, the District has not undertaken substantive activity in the last year and is in the process <br /> of considering its future plans and options. The District would like to remain in a holding pattern <br /> until its plans become more clear. <br /> OPERATING PLAN CONTENTS <br /> Pursuant to the provisions of the Business Improvement District Act, Section 31-25- <br /> 1201, et seq., Colorado Revised Statutes, as amended, the Operating Plan is to specifically <br /> identify: <br /> (1) the composition of the Board of Directors, <br /> (2)the services and improvements to be provided by the District, <br /> (3)the taxes, fees,and assessments to be imposed by the District, <br /> (4)the estimated principal amount of the bonds to be issued by the District, and <br /> (5)such other information as the City may require. <br /> Each of these five items is described below. <br /> COMPOSITION OF THE BOARD OF DIRECTORS <br /> Under the Organizational Ordinance,the Board of Directors of the District was appointed <br /> by the City Council. All Board members must, by law, be electors of the District. The current <br /> members of the Board of Directors are: <br /> 43 <br />