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RESOLUTION 15-92
U0RESOLUTION15-92-WHEREAS,onNovember3,1992,thevotersoftheStateofColoradoapprovedanamendmenttotheStateConstitution,knownasAmendment1;andWHEREAS,Section5ofsaidAmendmentrequiresthattheTownofEstesParkreservefor1993andlateryearsupto3%ofthefiscalyearspending,excludingbondeddebtservice;andWHEREAS,Section2(e)includes“reserveincreases”withinfiscalyearspendingoftheTownofEstesPark;andWHEREAS,theTownofEstesParkherebywishestoestablish,pursuanttotheprovisionsofSection5ofAmendment1,anEmergencyReserve;andWHEREAS,theTownofEstesParkherebywishestoestablish,pursuanttotheprovisionsofSection2(e)ofAmendment1,reserveincreasesinordertoestablishaReserveforFutureOperations,MaintenanceandCapitalProjectswithincertainFundsoftheTownofEstesPark.NOW,THEREFORE,BEITRESOLVEDbytheBoardofTrusteesoftheTownofEstesPark,Colorado:1.Thata3%ReserveforEmergencybeestablishedintheCatastrophicLossFundintheamountof$485,000.2.ThataReserveforFutureOperations,MaintenanceandCapitalProjectsbeestablishedintheCatastrophicLossFundintheamountof$620,000.3.ThataReserveforFutureOperations,Maintenance,andCapitalProjectsbeestablishedintheLightandPowerFundintheamountof$535,000.4.ThataReserveforFutureOperations,Maintenance,andCapitalProjectsbeestablishedintheWaterFundintheamountof$265,000.DATEDthis8thdayofDecember,1992.TOWNOFESTESPARKATTESTMayor:;a>61TownClerk