City Council Agenda and Packet 2003 11 18

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Louisville City Council Meeting November 4, 2003 Page 8 of 11 Mayor Davidson opened the public hearing and called for Staff presentation. Police Chief Bruce Goodman reviewed the Colorado Department of Transportation prepared and adopted a 2003 Revised Edition of the Model Traffic Code for Colorado. He explained the 2003 Edition of the "Model Traffic Code" enables the City of Louisville to adopt uniform statewide ordinances for enforcement of traffic. He noted certain modifications and addition were included in the ordinance, such as speed limit changes, and some qualifications requested by the Municipal Judge. Mayor Davidson asked if anyone in the audience wished to speak for or against Ordinance No. 1428, Series 2003, and hearing none, closed the public hearing. MOTION: Council member Keany moved that Council adopt Ordinance No. 1428, Series 2003, seconded by Mayor Pro Tem Sisko Roll call vote was taken. The motion passed by a vote of 6-0. Absent: Council member Brown. ORDINANCE NO. 1430, SERIES 2003 - AN ORDINANCE AMENDING SECTIONS 2.76.060 AND 2.76.150 OF THE LOUISVILLE MUNICIPAL CODE, PROVIDING FOR THE DISTRIBUTION OF FUNDS RECEIVED FROM THE SALE OF CEMETERY LOTS - 2nd reading - public hearing (published Daily Camera 10/25/03) f- w ~ \J ~ a.. Mayor Davidson called for City Attorney introduction. City Attorney Light read Ordinance No. 1430, Series 2003. Mayor Davidson opened the public hearing and called for Staff presentation. Deputy City Manager Julie Boyd explained the City of Louisville's Municipal Code establishes a "cemetery perpetual care fund" and revenues from the sales of cemetery lots are deposited into that fund. The money in the fund is restricted to investments with the interest proceeds available to augment money budgeted from the General Fund for cemetery capital and maintenance expenses. This assures that there will always be money available to care for the cemetery. The expected cash balance as of January 1,2004 in the Perpetual Care Fund is $518,872. Boyd explained there are a number of capital items included in the five-year Capital Improvement Programs that will require funding above that available. Approval of Ordinance No. 1430, Series 2003 will allow a change in the current financial policy with a portion (50%) of the revenues received by the City from the sale of lots to be used for caring for the cemetery. Cemetery lots sales vary from year to year, but recently have brought in about $24,000 annually, which would make about $12,000 available for capital improvements. Although this will not be sufficient to fund the needed improvements, it will help offset some expenses. The remaining 50% of lot sales revenue will continue to be reserved in the perpetual care fund. All money currently in the perpetual care fund would remain in that fund, and be subject to its restri ctions. 8