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<br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Whereas <br /> <br />Resolution No. 37, Series 2005 <br />A Resolution Expressing Support for the Passage of Referenda C & D <br />The Colorado Economic Recovery Act <br /> <br />The recent recession, combined with the September II attacks, caused our <br />state revenues to drop 16 percent, forcing Colorado to cut $1 billion in <br />spending the past three years, and; <br /> <br />Without immediate relief, state officials would have to start making even <br />more massive cuts next year in funding for schools, roads and healthcare, <br />even as the state's growing population creates demands for more spending; <br />and <br /> <br />Colorado must remain competitive with other states in seeking new jobs and <br />investment from companies that demand good roads and schools whenever <br />they expand their operations; and <br /> <br />The State of Colorado will need $3.1 billion over the next five years to <br />restore services that have been cut, ranging from Medicaid to higher <br />education to strategic transportation projects, and; <br /> <br />The Colorado Economic Recovery Act proposes asking voters at the <br />November 2005 Coordinated Election to forgo their TABOR taxpayer <br />refunds for five years and let the state earmark that money for education, <br />health care, transportation and retirement plans for fire and police, and; <br /> <br />In the sixth year, 2011, if revenue exceeds the amount the state can spend on <br />these services, the first $100 million will pay bonding obligations for <br />construction and other needs, including schools and roads, and; <br /> <br />In 2011, the income tax rate would drop from 4.63 percent to 4.5 percent <br />and remain there every year there is a TABOR refund, and; <br /> <br />Together, we must help Colorado recover from our ongoing budget <br />challenges, and; <br /> <br />The City of Louisville will benefit from the passage of C & D by the <br />allocation of significant transportation funding for U.S. 36 improvements <br />including $31M for U.S. 36 high priority improvements along with funding <br />for education, healthcare, and police and fire retirement plans, and; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />LOUISVILLE, COLORADO: <br />