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EPURA RESOLUTION 265
0000RESOLUTIONNO.265ARESOLUTIONOFTHEESTESPARKURBANRENEWALAUTHORITYOBLIGATINGCERTAINUNSPENTBUDGETEDREVENUESANDRESERVEFUNDINCREASESANDAUTHORIZINGANDAPPROPRIATINGOFTHESEACTIONSWHEREAS,ArticleXSection20totheStateConstitutionwasapprovedbytheelectorateoftheStateonNovember3,1992;andWHEREAS,theConstitutiondefines“fiscalyearspending”toincludeallexpendituresandreserveincreasesexceptreservetransfersorexpendituresandotheritems;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunspentcontractualobligations;andWHEREAS,theEstesParkUrbanRenewalAuthorityhasunobligatedfundbalancesin199$anddesirestoestablishpursuanttotheprovisionsofSection2(e)ofArticleXSection20non-emergencyrevenueincreasessothatsuchrevenuesmaybeutilizedinfuturefiscalyearsforthepurposespecifiedintheColoradoUrbanRenewallaw,otherapplicablelawsandtheEstesParkDowntownRedevelopmentProgramasamendedormaybeamended;andWHEREAS,alegalissueapparentlyexistsastowhethertheprovisionsofArticleXSection20andtheconfusionanddifficultywithinterpretationofcertainprovisionsofArticleXSection20,theAuthorityisneverthelesscommittedtocomplyingwithArticleXSection20asitpresentlyunderstandsandingoodfaithinterpretsArticleXSection20.THEREfORE,BEITRESOLVEDBYTHEESTESPARKURBANRENEWALAUTHORITYTHAT:Section1:EstesParkUrbanRenewalAuthorityreservesallremainingfundbalancesorcashintheGeneralfundfor199$asnon-emergency“reserveincreases”forfutureoperationsandcapitalprojectsoftheAuthority. Section:AnyandallAuthorityfundsand/orrevenuesnotexpendedinthefiscalyear1998shallbedeemedtobepartofandincludedintherespectiveReservefundsforthefiscalyear1999.Section3:Notwithstandingtheforegoing,anyandallyearendfundbalancesshallbeconsidereda“reserveincrease”andthereforeapartofthe1999“fiscalyearspending”withinthemeaningofArticleXSection2O(2)(e)oftheColoradoConstitution.Section4:ExpendituresfromtheReservefundshallbeasdirectedbytheBoardofCommissioners.Section5:Ifanyclause,sentence,sectionorpartofthisResolutionortheapplicationthereofshallforanyreasonbeadjudgedbyacourtofcompetentjurisdictioninvalid,suchjudgmentshallnotaffect,impairorinvalidatetheremainderofthisResolution,oritsapplicationthereofADOPTEDthisdayofDecember1998.ESTESPARKURBANRENEWALAUTHORITY/7///9/i,v/ijChairman/ATTE-#‘//-ecretary