HomeMy WebLinkAboutRESOLUTION 32-93RESOLUTION 32-93
WHEREAS,Amendment one (TABOR Amendment)to the State
Constitution was approved by the electors of the State on November
3,1992;and
WHEREAS,Section 7(b)of the Amendment provides for spending
limits that will not allow fiscal year spending in excess of
spending in the prior year,subject to adjustments for inflation
and local growth;and
WHEREAS,Section 2(e)of the Amendment defines “fiscal year
spending”to include all expenditures and reserve increases;and
WHEREAS,the Town of Estee Park has unspent 1993 revenues and
desires to fund from said revenues the Town’s Reserve for Future
Expenditures so that such reserves may be utilized in future fiscal
years by the Town of Estes Park.
NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE
TOWN OF ESTES PARK,COLORADO:
1.Any revenues not expended in fiscal year 1993 shall be
deemed to be part of and included in the Reserve for Future
Expenditures for the fiscal year 1993.
2.Any funds in the Reserve for Future Expenditures may be
used for any lawful purpose.
3.The funds so reserved shall be considered a “reserve
increase”and therefore,a part of 1993 “fiscal year spending”
within the meaning of Article X,Section 20(2)(e)of the Colorado
Constitution (TABOR Amendment).
4.Expenditures from the Reserve for the Future
Expenditures shall be as directed by the Board of Trustees of the
Town of Estes Park.
INTRODUCED,READ MTD PASSED THIS 3AJ DAY
________________
1993.
TOWN OF ESTES PARK
By:-,..C
Mayor
ATTEST:
Town Clerk
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