Resolution 2025-76 - Laserfiche WebLink

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leaves the Board, and the three new members are appointed and qualified, five vacant positions will remain. Exhibit 3 provides additional information concerning the Directors. Future appointments shall be made by the City Council in accordance with the previously approved operating plans. DESCRIPTION OF IMPROVEMENTS AND SERVICES Historical Background The BID's organizational petition, first operating plan and budget (dated May 1, 2000) and the Organizational Ordinance (including approval of that operating plan and budget, the ordinance being dated August 15, 2000) contemplated that the BID would promptly hold a TABOR (defined below) financial election. The Board's organizational meeting, following all required notices, was held on August 28, 2000 at which time various administrative tasks were performed. The TABOR election was held in November 2000. However, activity in the BID essentially stopped after the November 2000 election because the authority to levy a tax was not passed by a majority of the electors of the District who voted in the election (the vote was tied, opposition coming from anti -tax sentiment and a property exclusion that was approved prior to the organization of the District). Since that time, the Board, with volunteer assistance, has worked to maintain the BID in the hope that `someday,' it might come in handy, particularly if it could be funded and operated as an `enterprise' as defined in TABOR, which does not require an election. `Someday' has arrived, because the BID can fund and operate the Ice Rink as an enterprise, and can obtain the insurance required by the Ice Rink Agreement. Ice Rink Enterprise By approval of this Operating Plan, the City authorizes the BID to enter into and to perform the Ice Rink Agreement as an "Enterprise" as defined in Colo. Const. Art. X, Sec. 20(2)(d)("TABOR"), which states: "Enterprise " means a government -owned business authorized to issue its own revenue bonds and receiving under 10% of annual revenue in grants from all Colorado state and local governments combined. The first requirement to qualify as an `Enterprise' is that there be a `government owned business.' Pursuant to C.R.S. Section 31-25-1207(5), upon organization, "The district shall be a quasi -municipal corporation and political subdivision of the state with all powers and responsibilities thereof." Therefore, the BID is a government. Under C.R.S. Section 31-25-1212, the BID has broad powers to enter contracts, provide services, and operate improvements. The BID is hereby authorized to perform the business of operating the Ice Rink. DN 4257652.1