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EPURA RESOLUTION 202
RESOLUTIONNO.202ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYESTABLISHINGNON-EMERGENCYRESERVEFUNDSANDRESERVEINCREASESANDDESIGNATINGMIDAUTHORIZINGTHEUSEOFCERTAINSUCHFUNDSWHEREAS,ArticleXSection20totheStateConstitutionwasapprovedbytheelectorateoftheStateonNovember3,1992;andWHEREAS,theConstitutiondefines“fiscalyearspending”toincludeallexpendituresandreserveincreasesexceptreservetransfersorexpendituresandotheritems;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunspentfinancialcontractualobligationsforfiscalyear1993;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasfundbalancesin1993anddesirestoestablish,pursuanttotheprovisionsofSection2(e)ofArticleXSection20,non—emergencyreserveincreasessothatsuchreservefundsmaybeutilizedinfuturefiscalyearsforcontractualobligations,thepurposesspecifiedintheColoradoUrbanRenewalLaw,otherapplicablelawsandtheEstesParkDowntownRedevelopmentProgramasamendedormaybeamended;andWHEREAS,alegitimatelegalissueexistsastowhethertheprovisionsofArticleXSection20applytotheAuthority,whichissuemaynotberesolvedbycourtrulingsortheirlegalprocessesintheforeseeablefuture;andWHEREAS,inconsiderationofthesaidunresolvedmattersoftheapplicationofArticleXSection20andtheconfusionanddifficultywithinterpretationofcertainprovisionsofsame,theAuthorityisneverthelesscommittedtocomplyingwithArticleXSection20asitunderstandsandingoodfaithinterpretstheconstitutionalprovisionatthistime.NOW,THEREFORE,BEITRESOLVEDBYTHEESTESPARKURBANRENEWALAUTHORITYTHAT:Section1:EPURAherebyestablishesareservefundof$32,600forobligatedcostsassociatedwiththeWesternMobileconstructioncontractfortheStanleyHistoricDistrictRoadforworkthatwasnotcompletedin1993.Section2:EPURAherebyestablishesareservefundof$37,000forobligatedcostswiththeDesignStudiosWestcontractassociatedwiththeTownofEstesParkComprehensivePlan. 0Section3:EPURAherebyestablishesareservefundof$29,600forobligatedworkassociatedwiththeColoradoHistoricGrantforTheStanleyHotel.Section4:EPURAherebyestablishesareservefundof$3,000forcontractualworkwithGaryKileandAssociatesassociatedwitharchitecturalworkontheRiverwalkproject.Section5:EPUPAherebyestablishesareservefundforallremainingfundbalancesorcashintheGeneralFundfor1993asnon—emergency“reserveincreases”forfutureoperations,administrativecosts,capitalprojectsandallotherlegalactivitiesoftheAuthority.Section6:AnyandallAuthorityfundsand/orrevenuesnotexpendedinthefiscalyear1993shallbedeemedtobepartofandincludedintherespectiveReserveFundsforthefiscalyear1993.Section7:Notwithstandingtheforegoing,anyandallyearendfundbalancesshallbeconsidereda“reserveincrease”andthereforeapartof1993“fiscalyearspending”withinthemeaningofArticleXSection20(2)e)oftheColoradoConstitution.Section8:ExpendituresfromtheReserveFundsshallbeasdirectedbytheBoardofCommissioners.Section9:Ifanyclause,sentence,sectionorpartofthisResolutionortheapplicationthereofshallforanyreasonbeadjudgedbyacourtofcompetentjurisdictioninvalid,suchjudgementshallnotaffect,impairorinvalidatetheremainderofthisResolution,oritsapplicationthereof.ADOPTEDthis16thdayofDecember,1993.ESTESPARKURBANRENEWALAUTHORITYATTEST:rmanSecretary