City Council Minutes 1987 11 05 - Laserfiche WebLink

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By Roll Call Vote, Ordinance #943 was adopted unanimously. RESOLUTION #30 - LEVYING GENERAL PROPERTY TAXES Rautenstraus read in its entirety Resolution #30, "A Resolution levying General Property Taxes for the Year 1987, to help defray the costs of government for the City of Louisville, Colorado for the 1988 Budget Year." Hundley explained that at the October 6th Council Meeting, City staff shared with Council the dilemma over the 1987 property tax mill levy. At that time, Council tabled Resolution #30 in order to determine the legality and appropriateness of setting the mill levy at 4.908 mills versus the 4.644 mills requested by the Colorado Division of Local Government. By certifying the higher mill levy, this would generate $32,445 more in property tax revenue than the lower level mill levy of 4.644. Attorneys for Boulder County have indicated they would certify whatever mill levy the City :requests. They do not feel that the Division of Local Governments request is based firmly on statutory law. Adoption of Resolution #30 will levy 4.504 mills in the General Fund with revenues of $545,64CI, and levy .404 mills in the Capital Improvement Fund with revenues of $48,920. Adoption of the lowE~r mill levy of 4.644 mills would reduce total revenuE~s by $32,445. Hundley explained thiat because of the reassessment this year, the City is allowed to increase the property tax mill levy no more than 5.5~. That means that the revenue that is generated can not increase more than _`i.5~ exclusive of growth. Szymanski stated that in "good faith" staff and council went througl-i the entire budget process based upon the 4.908 mills and feels that this should be the mill levy that the City should certify for the 1988 Budget. Mayor Fauson moved i~hat Resolution #30 be adopted. Szymanski seconded. By Roll Call Vote, Resolution #30 was adopted unanimously. RESOLUTION #33 - DYER ROAD ANNEXATION PETITION Rautenstraus read iri its entirety Resolution #33, "A Resolution of the City Council of the City of Louisville finding substantial comliance of an annexation petition filed by 1007 Corporation and initiating annexation proceedings for certain property and establishing a time for a public hearing to determine if the proposed annexation complies with statutory requirements."