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EPURA RESOLUTION 257
RESOLUTIONNO.257ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYOBLIGATINGCERTAINUNSPENTBUDGETEDREVENTJESANDRESERVEFtJNDINCREASESANDAUTHORIZINGANDAPPROPRIATINGOFTHESEACTIONSWHEREAS,ArticleXSection20totheStateConstitutionwasapprovedbytheelectorateoftheStateonNovember3,1992;andWHEREAS,theConstitutiondefines“fiscalyearspending”toincludeallexpendituresandreserveincreasesexceptreservetransfersorexpendituresandotheritems;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunspentcontractualobligations;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunobligatedfundbalancesin1997anddesirestoestablishpursuanttotheprovisionsofSection2(e)ofArticleXSection20non-emergencyrevenueincreasessothatsuchreservesmaybeutilizedinfuturefiscalyearsforthepurposespecifiedintheColoradoUrbanRenewallaw,otherapplicablelawsandtheEstesParkDowntownRedevelopmentProgramasamendedormaybeamended;andWHEREAS,alegitimatelegalissueexistsastowhethertheprovisionsofArticleXSection20applytotheAuthority,whichissuemaynotberesolvedbycourtrulingortheirlegalprocessesintheforeseeablefuture;andWHEREAS,incontinuationofunresolvedmattersoftheApplicationofArticleXSection20andtheconfusionanddifficultywithinterpretationofcertainprovisionsofArticleXSection20,theAuthorityisneverthelesscommittedtocomplyingwithArticleXSection20asitunderstandsandingoodfaithinterpretsArticleXSection20atthistime.NOW,THEREFORE,BEITRESOLVEDBYTHEESTESPARKURBANRENEWALAUTHORITYTHAT:Section1:EstesParkUrbanRenewalAuthorityreservesallremainingfundbalancesorcashintheGeneralFundfor1997asnon-emergency“reserveincreases”forfutureoperationsandcapitalprojectsoftheAuthority.Section2:AnyandallAuthorityfundsand/orrevenuesnotexpendedinthefiscalyear1997shallbedeemedtobepartofandincludedintherespectiveReserveFundsforthefiscalyear1998. aSection3:Notwithstandingtheforegoing,anyandallyearendfundbalancesshallbeconsidereda“reserveincrease”andthereforeapartofthe1998“fiscalyearspending”withinthemeaningofArticleXSection20(2)Ce)oftheColoradoConstitution.Section4:ExpendituresfromtheReserveFundshallbeasdirectedbytheBoardofCommissioners.Section5:Ifanyclause,sentence,sectionorpartofthisResolutionortheapplicationthereofshallforanyreasonbeadjudgedbyacourtofcompetentjurisdictioninvalid,suchjudgmentshallnotaffect,impairorinvalidatetheremainderofthisResolution,oritsapplicationthereof.ADOPTEDthis3rddayofDecember1997ESTESPARKURBANRENEWALAUTHORITYATTEST:-ecretary