Attachment B - Resolution 317 Mill Levy

Special Meeting, October 23, 2025 · item 2B: Consideration of the following pertaining to the 2026 budget of the City of Boulder Downtown Commercial District Fund (formally known as the… · 3 pages

This is the text extracted from the file, without its layout, tables, or images. Use the original for anything that matters.

RESOLUTION 317

A RESOLUTION ESTABLISHING THE 2025 CITY OF BOULDER DOWNTOWN COMMERCIAL DISTRICT (FORMERLY KNOWN AS THE CENTRAL AREA GENERAL IMPROVEMENT DISTRICT) PROPERTY TAX MILL LEVY FOR PAYMENT OF EXPENDITURES, IN PART, OF THE DISTRICT DURING THE FISCAL YEAR 2026, BEGINNING JANUARY 1, 2026; AND SETTING FORTH RELTATED DETAILS THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO, ACTING AS THE BOARD OF DIRECTORS OF THE CITY OF BOULDER DOWNTOWN COMMERCIAL DISTRICT (FORMERLY KNOWN AS THE CENTRAL AREA GENERAL IMPROVEMENT DISTRICT), HEREBY FINDS AND RECITES THAT: A.

WHEREAS, the City Council of the City of Boulder, Colorado, acting as the

Board of Directors (the “Board”) of the City of Boulder Downtown Commercial District (formerly known as the Central Area General Improvement District) (the “District”) has prepared and adopted a budget for the District for the 2026 fiscal year; and B.

WHEREAS, the Board has reviewed the projected expenditures of the District for

2026; and C.

WHEREAS, the Board has considered all sources of revenue of the District; and

WHEREAS, the Board has determined that there will not be sufficient revenues

produced by the facilities operated by the District along with income from investment to cover expenses of operation and debt service and that a tax levy of 3.674 mills should therefore be imposed; and

WHEREAS, the preliminary assessed valuation information received from the

county under Article X, Section 20 of the Colorado Constitution indicates that the growth limit in the District for 2026 property taxes is 2.384%; and F.

WHEREAS, to conform with the county information, a mill levy credit of 6.316

mills is necessary for a total of 3.674 mills to be assessed upon each dollar of assessed valuation of all taxable property within the area of the District. BASED ON THE FINDINGS MADE IN THIS RESOLUTION, ABOVE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BOULDER, COLORADO, ACTING AS THE BOARD OF DIRECTORS OF THE CITY OF BOULDER DOWNTOWN COMMERCIAL DISTRICT (FORMERLY KNOWN AS THE CENTRAL AREA GENERAL IMPROVEMENT DISTRICT), THAT: Section 1. Effective at 12:00 midnight on December 31, 2025, there is hereby levied for the year of 2025, to be collected in 2026, a tax of 3.674 mills upon each dollar of the total assessed valuation of all taxable property within the area of the District. The levy includes the following components: General Operating and Debt Less: Mill Levy Credit Net Mill Levy

9.990 (6.316) 3.674

Section 2. The Secretary of the District is directed to certify the within levy to the County Assessor, Boulder County, Colorado.

ADOPTED this 23rd day of October 2025.

_______________________________ Chair Attest: _________________________________ Secretary