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ORDINANCE NO 1778 SERIES 2019 AN ORDINANCE SUBMITTING TO THE REGISTERED ELECTORS AT THE REGULAR ELECTION TO BE HELD NOVEMBER 5, 2019 A BALLOT ISSUE TO ALLOW THE CITY OF LOUISVILLE TO KEEP REVENUES THAT OTHERWISE WOULD BE REFUNDED, TO CONTINUE TO COLLECT THE TAX AT THE PREVIOUSLY APPROVED RATE, AND TO SPEND ALL REVENUES COLLECTED FOR OPERATING AND MAINTAINING THE LOUISVILLE RECREATION/SENIOR CENTER AND POOL FACILITIES AT MEMORY SQUARE PARK WHEREAS, the City of Louisville (the "City") is a Colorado home rule municipal corporation duly organized and existing under laws of the State of Colorado and the City of Louisville Home Rule Charter (the "City Charter"), and WHEREAS, the members of the City Council of the City (the "City Council") have been duly elected and qualified, and WHEREAS, at the November 8, 2016 election, the registered voters of the City of Louisville approved a TABOR ballot issue concerning the imposition of an additional sales and use tax, which commenced January 1, 2018, the net proceeds of which additional sales and use tax have been and are currently being used for operating and maintaining the Louisville Recreation/Senior Center and pool facilities at Memory Square Park; and WHEREAS, pursuant to Article X, Section 20 of the Colorado Constitution, also referred to as the Taxpayer's Bill of Rights ("TABOR"), the City was required to include in the election notice mailed to the voters an estimate of revenues expected to be received from the tax increase in the first full fiscal year of collection, and an estimate of fiscal year spending if the tax were not imposed, and WHEREAS, pursuant to TABOR Section 3(c), "Except by later voter approval, if a tax increase or fiscal year spending exceeds any estimate for the same fiscal year, the tax increase is thereafter reduced up to 100% in proportion to the combined dollar excess, and the combined excess revenue refunded in the next fiscal year", and WHEREAS, the City Council desires to refer to the voters at the November 5, 2019 regular election a TABOR ballot issue to allow the City to keep revenues that otherwise would be refunded for exceeding estimates included in the election notice mailed to voters for the 2016 voter -approved 0 15 percent increase in sales and use tax, whether or not such revenues have been spent, and continue to collect the tax at the previously approved rate, and spend all revenues collected for operating and maintaining the Louisville Recreation/Senior Center and pool facilities at Memory Square Park. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO Ordinance No. 1778, Series 2019 Page 1 of 3