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RESOLUTION NO. 43 <br /> SERIES 2003 <br /> <br />A RESOLUTION CREATING A NEW CAPITAL PROJECTS FUND TO ACCOUNT <br />FOR THE COSTS ASSOCIATED WITH THE CONSTRUCTION OF A NEW LIBRARY <br />FACILITY, THE ISSUANCE OF BONDED DEBT TO OFFSET THE CONSTRUCTION <br />COSTS OF THE NEW LIBRARY, AND THE REVENUES AND PAYMENTS <br />REQUIRED FOR PAYMENT OF THE BONDED DEBT <br /> <br />WHEREAS, the voters approved Ballot Issue 2B on November 4, 2003, approving the issuance <br />of debt and the imposition of a mill levy for the payment of such debt for the construction of a <br />new library facility in the City of Louisville; and <br /> <br />WHEREAS, Council desires to create a capital projects fund to account for the costs associated <br />with the construction of a new library, the issuance of the bonded debt to offset the construction <br />cots of the new library, and the revenues and payments required for payment of the bonded debt,. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />LOUISVILLE, COLORADO: <br /> <br />That a capital projects fund shall be created, entitled the Library Capital Construction <br />Fund. <br /> <br />That all revenues received from the imposition of the approved mill levy and the issuance <br />of bonded debt, and expenses incurred for the construction of a new library facility, will <br />be accounted for in the Library Capital Construction Fund. <br /> <br />PASSED AND ADOPTED this 2nd day of December, 2003. <br /> <br />N~cy Va~ra, City Clerk <br /> <br />Tom Davidson, Mayor <br /> <br /> <br />