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EPURA RESOLUTION 181
00RESOLUTIONNO.181ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYESTABLISHINGANON-EMERGENCYRESERVEFUNDANDRESERVEFUNDINCREASESANDAUTHORIZINGTHETRANSFEROFFUNDSTOTHERESERVEFUNDWHEREAS,Amendment1tothestateconstitutionwasapprovedbytheelectorateofthestateonNovember3,1992;andWHEREAS,Section7(b)oftheAmendmentprovidesforspendinglimitsthatwouldnotallowfiscalyearspendinginexcessofthespendingintheprioryear,subjecttoadjustmentsforinflationandotherconsiderations;andWHEREAS,Section2(e)oftheAmendmentdefines“FiscalYearSpending”toincludeallexpendituresandreserveincreasesexceptreservetransfersorexpendituresandotheritems;andWHEREAS,EPURAhasunallocatedfundbalancesin1992anddesirestoestablishpursuanttotheprovisionsofSection2(e)ofAmendment1non—emergencyreserveincreasessothatsuchreservesmaybeutilizedinfuturefiscalyearsforthepurposesspecifiedintheColoradoUrbanRenewalLaw,otherapplicablelawsandtheEstesParkDowntownRedevelopmentProgram,asamendedorasmaybeamended.THEREFORE,BEITRESOLVEDBYTHEBOARDOFCOMMISSIONERSOFTHEESTESPARKURBANRENEWALAUTHORITYTHAT:Section1.EPURAherebyreserves$515,000andanyothercashorfundbalanceintheGeneralFundfor1992fortheEstesParkUrbanRenewalAuthorityNon—EmergencyReserveFundforfutureoperationsandcapitalprojectsoftheAuthority.Section2.FundbalancesintheDebtServiceFundisreservedfordebtserviceincompliancewiththeIndenturesofTrustforallexistingbondissues.Section3.ThefundsintheNon-EmergencyReserveFundmaybeusedforanylawfulpurposeprovidedforbutnotlimitedtotheColoradoUrbanRenewalLaw,allotherapplicablelawsandtheEstesParkDowntownRedevelopmentProgram,asamendedorasmaybeamended.Section4.Anyfunds,includingbondproceeds,notexpendedinthefiscalyear1992shallbedeemedtobepartofandincludedintheNon—EmergencyReserveFundforthefiscalyear1992. 00Section5.Notwithstandingtheforegoing,anyandallyearendfundbalancesshallbeconsidereda“reserveincrease”andthereforeapartof1992“fiscalyearspending”withinthemeaningofArticleX,Section20(2)(e)oftheColoradoConstitution(Amendment1of1992).Section6.ExpendituresfromtheNon—EmergencyReserveFundshallbeasdirectedbytheBoardofCommissionersoftheAuthority.Section7.Ifanyclause,sentence,section,orpartofthisResolutionoftheapplicationthereofshallforanyreasonbeadjudgedbyacourtofcompetentjurisdictioninvalid,suchjudgementshallnotaffect,impairorinvalidatetheremainderofthisResolution,oritsapplicationthereof.Adoptedthis17thdayofDecember1992.Attest:Secetary-