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RESOLUTION 24-94
CCRESOLUTION24-94WHEREAS,AmendmentOne(TABORAmendment)totheStateConstitutionwasapprovedbytheelectorsoftheStateonNovember3,1992;andWHEREAS,Section7(b)oftheAmendmentprovidesforspendinglimitsthatwillnotallowfiscalyearspendinginexcessofspendingintheprioryear,subjecttoadjustmentsforinflationandlocalgrowth;andWHEREAS,section2(e)oftheAmendmentdefines“fiscalyearspending”toincludeallexpendituresandreserveincreases;andWHEREAS,theTownofEstesParkhasunspent1994revenuesanddesirestofundfromsaidrevenuestheTown’sReserveforFutureExpendituressothatsuchreservesmaybeutilizedinfuturefiscalyearsbytheTownofEstesPark.NOW,THEREFORE,BEITRESOLVEDBYTHEBOARDOFTRUSTEESOFTHETOWNOFESTESPARK,COLORADO:1.Anyrevenuesnotexpendedinfiscalyear1994shallbedeemedtobepartofandincludedintheReserveforFutureExpendituresforthefiscalyear1994.2.AnyfundsintheReserveforFutureExpendituresmaybeusedforanylawfulpurpose.3.Thefundssoreservedshallbeconsidereda“reserveincrease”andtherefore,apartof1994“fiscalyearspending”withinthemeaningofArticleX,Section20(2)(e)oftheColoradoConstitution(TABORAmendment)4.ExpendituresfromtheReserveforthematureExpendituresshallbedirectedbytheBoardofTrusteesoftheTownofEstesPark.INTRODUCED,READ,ANDPASSEDTHIS________DAYOF__________/LmJi’.1994.TOWNOFESTESPARKBy:___________________________________MayorATTEST:TownClerk C0