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RESOLUTION NO. 20 SERIES 2009 A RESOLUTION ENACTING PROVISIONS RELATED TO ADMINSTRATION AND USES OF THE HISTORIC PRESERVATION FUND, AND ESTABLISHING REQUIREMENTS AND PROCEDURES APPLICABLE TO THE FUNDING OF INCENTIVES FOR HISTORIC PRESERVATION PURPOSES 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 Charter; and WHEREAS, at the November 4, 2008 election, the voters approved a ballot issue to levy an additional one-eighth of one percent (1/8%) sales tax, collected for aten-year period commencing January 1, 2009, with the net proceeds of such one-eighth percent sales tax to be collected, retained and spent exclusively for historic preservation purposes within historic Old Town Louisville; and WHEREAS, by Ordinance No. 1544, Series 2008, the City established the historic preservation fund as a special revenue fund to account for revenues derived from the historic preservation tax; and WHEREAS, City Council by this resolution desires to enact additional provisions related to administration and uses of the historic preservation fund; and WHEREAS, City Council by this resolution further desires to establish requirements and procedures applicable to the funding of incentives for historic preservation purposes; and WHEREAS, the City of Louisville Historic Preservation Commission has reviewed at public meetings the provisions hereof regarding the historic preservation fund and funding of historic preservation incentives, and has recommended adoption of such provisions; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: In order to facilitate the purposes of 2008 Louisville Ballot Issue 2A and Ordinance No. 1544, Series 2008, the following provisions shall be enacted: Section 1. Historic Preservation Fund: There exists a "Historic Preservation Fund" ("HPF") in the City of Louisville, as established by Ordinance 1544, Series 2008. a. The HPF shall be funded by: