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ORDINANCE NO. 1810 <br />SERIES 2021 <br />AN ORDINANCE SUBMITTING TO THE REGISTERED ELECTORS OF THE CITY <br />AT THE NOVEMBER 2, 2021 REGULAR MUNICIPAL ELECTION A BALLOT ISSUE <br />CONCERNING INCREASES IN CITY DEBT AND PROPERTY TAXES FOR THE <br />PURPOSE OF CONSTRUCTING TRANSPORTATION IMPROVEMENTS, AND <br />AUTHORIZING OTHER ACTIONS REGARDING THE CONDUCT OF SUCH <br />ELECTION <br />WHEREAS, the City of Louisville (the "City"), is a Colorado home rule municipal <br />corporation duly organized and existing under laws of the State of Colorado and the Charter for <br />the City of Louisville, Colorado (the "City Charter"); and <br />WHEREAS, the members of the City Council of the City (the "City Council") have <br />been duly elected and qualified; and <br />WHEREAS, Article X, Section 20 of the Colorado Constitution, also referred to as the <br />Taxpayer's Bill of Rights ("TABOR") requires voter approval for any new tax, any increase in <br />any tax rate, the creation of any debt, and the spending of certain funds above limits established <br />by TABOR; and <br />WHEREAS, pursuant to Article 12 and Section 4-8 of the City Charter, the City may <br />authorize the issuance of bonds, the imposition of new taxes and the increase of a tax rate by <br />ordinance and upon approval of the registered electors of the City; and <br />WHEREAS, the City Council has determined the interest of the City and the public <br />interest and necessity demand and require the acquisition and construction of certain <br />transportation improvements, as described in the ballot question set forth in Section 3 hereof, all <br />at a cost estimated at approximately $51,420,000 (the "Project"); and <br />WHEREAS, the City Council is of the opinion that the City should incur debt and <br />increase the City's property tax mill levy for the payment of such debt, as further stated in this <br />ordinance; and <br />WHEREAS, TABOR requires that the City submit ballot issues, as defined in TABOR, <br />to the City's registered electors on specified election days before action can be taken on such <br />ballot issues; and <br />Ordinance No. 1810, Series 2021 <br />Page 1 of 6 <br />