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ORDINANCE NO. 1575 SERIES 2010 AN ORDINANCE IMPOSING A THREE AND ONE -HALF PERCENT USE TAX UPON THE USE, STORAGE, DISTRIBUTION OR CONSUMPTION OF ANY ARTICLE OF TANGIBLE PERSONAL PROPERTY OR TAXABLE SERVICES PURCHASED, LEASED OR RENTED FROM SOURCES OUTSIDE THE CITY ON WHICH THE CITY SALES TAX HAS NOT BEEN PAID AND UPON RENTAL OF STORAGE SPACE WITHIN THE CITY AND, IN CONNECTION THEREWITH, MAKING AMENDMENTS TO THE LOUISVILLE MUNICIPAL CODE TO ALLOCATE PORTIONS OF THE USE TAX REVENUES FOR OPEN SPACE AND HISTORCIAL PRESERVATION PURPOSES, PRESCRIBE EXEMPTIONS FROM THE USE TAX, AND ADOPT OTHER AMENDMENTS CONCERNING THE ADMINISTRATION AND COLLECTION OF THE USE TAX; AND PROVIDING FOR THE SUBMISSION OF THE ORDINANCE TO A VOTE OF THE REGISTERED ELECTORS AT A SPECIAL ELECTION TO BE HELD NOVEMBER 2, 2010 Section 1. The following ordinance of the City of Louisville, Colorado, is hereby adopted to read: 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 (the "City Charter and WHEREAS, Article XX of the Colorado Constitution grants plenary power to home rule cities to levy and collect taxes within the City limits; and WHEREAS, pursuant to voter authorization, the City has previously adopted a permanent use tax of three percent (3.00 which tax is upon the privilege of using or consuming within the City, construction and building materials purchased at retail for use in connection with commercial, industrial or other nonresidential construction or building projects, and upon the privilege of storing, using or consuming within the City, any motor and other vehicles, purchased at retail on which registration is required; and WHEREAS, pursuant to voter authorization at the November 5, 2002, election, the City has also increased the rate of such use tax by three- eights of one percent (0.375 such additional tax to be imposed for a ten -year period commencing January 1, 2004 and the revenues therefrom to be collected, retained and spent exclusively for the acquisition of land in and around the City of Louisville for open space buffer zones, trails, wildlife habitats, wetlands preservation and future parks; and for the development, construction, operation and maintenance of such open space zones, trails, wildlife habitats, wetlands and parks; and WHEREAS, the City Council finds and determines that the City is in need of additional revenues; and 1