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EPURA RESOLUTION 248
CRESOLUTIONNO.248ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYOBLIGATINGCERTAINUNSPENTBUDGETEDREVENUESANDRESERVEFUNDINCREASESANDAUTHORIZINGANDAPPROPRIATINGOFTHESEACTIONSWHEREAS,ArticleXSection20totheStateConstitutionwasapprovedbytheelectorateoftheStateonNovember3,1992;andWHEREAS,theConstitutiondefinesfiscalyearspending”toincludeallexpendituresandreserveincreasesexceptreservetransfersorexpendituresandotheritems;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunspentcontractualobligations;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunobligatedfundbalancesin1996anddesirestoestablishpursuanttotheprovisionsofSection2(e)ofArticleXSection20non-emergencyrevenueincreasessothatsuchreservesmaybeutilizedinfuturefiscalyearsforthepurposespecifiedintheColoradoUrbanRenewallaw,otherapplicablelawsandtheEstesParkDowntownRedevelopmentProgramasamendedormaybeamended;andWHEREAS,alegitimatelegalissueexistsastowhethertheprovisionsofArticleXSection20applytotheAuthority,whichissuemaynotberesolvedbycourtrulingortheirlegalprocessesintheforeseeablefuture;andWHEREAS,incontinuationofunresolvedmattersoftheApplicationofArticleXSection20andtheconfusionanddifficultywithinterpretationofcertainprovisionsofArticleXSection20,theAuthorityisneverthelesscommittedtocomplyingwithArticleXSection20asitunderstandsandingoodfaithinterpretsArticleXSection20atthistime.NOW,THEREFORE,BEITRESOLVEDBYTHEESTESPARKURBANRENEWALAUTHORITYTHAT:Section1:EstesParkUrbanRenewalAuthorityreservesallremainingfundbalancesorcashintheGeneralFundfor1996asnon-emergency“reserveincreases”forfutureoperationsandcapitalprojectsoftheAuthority.Section2:AnyandallAuthorityfundsand/orrevenuesnotexpendedinthefiscalyear1996shallbedeemedtobepartofandincludedintherespectiveReserveFundsforthefiscalyear1997. Section3:Notwithstandingtheforegoing,anyandallyearendfundbalancesshallbeconsidereda“reserveincreaseTIandthereforeapartofthe1996Tfiscalyearspending”withinthemeaningofArticleXSection20(2)Ce)oftheColoradoConstitution.Section4:ExpendituresfromtheReserveFundshallbeasdirectedbytheBoardofCommissioners.Section5:Ifanyclause,sentence,sectionorpartofthisResolutionortheapplicationthereofshallforanyreasonbeadjudgedbyacourtofcompetentjurisdictioninvalid,suchjudgmentshallnotaffect,impairorinvalidatetheremainderofthisResolution,oritsapplicationthereof.ADOPTEDthis4thdayofDecember1996.ESTESPARKURBANRENEWALAUTHORITY/ChairmanATTEST:Secretary