Ordinance 2003-1412 - Laserfiche WebLink

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WHEREAS, as a home rule municipality of the State of Colorado, the City of Louisville has its own bonding authority under various provisions of the Colorado Constitution, the Colorado Revised Statutes, and its home rule Charter; and WHEREAS, the City's water and wastewater activity enterprise receives under ten percent of its annual revenue in grants from all Colorado state and local governments combined. NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE, COLORADO: ~ection 1. of the City Council lncorporalion. The foregoing recitals are incorporated herein as findings requires: Definiticms, As used in this ordinance, unless the context otherwise (a) "Grant" means the cash payment of public funds made directly to a municipal activity enterprise by the state or a local governmental entity or district, including the City of Louisville, which cash payment is not required to be repaid. "Grant" does not include public funds paid or advanced to a municipal activity enterprise by the state or local governmental entity or district, including the City of Louisville, in exchange for an agreement by a municipal activity enterprise to provide service including the provision of water, the collection and treatment of wastewater, the capacity of project works, materials, or other water or wastewater activities; nor does "grant" include refunds made in the current or next fiscal year, gifts, any payments directly or indirectly from federal funds or earnings on federal funds, collections from another government, pension contributions by employees and pension fund earnings, reserve transfers or expenditures, damage awards, or property sales. (b) "Water and wastewater activity" includes but is not limited to the diversion, storage, carriage, delivery, distribution, collection, treatment, use, reuse, augmentation, exchange, or discharge of water or wastewater (including but not limited to sewage and liquid industrial waste), or both, and including the provision of wholesale or retail water or wastewater services and the acquisition of water or water rights. (c) "Water and Wastewater Activity Enterprise" means that water and wastewater activity business wholly owned by the City of Louisville which receives under ten percent of its annual revenues in grants from all Colorado state and local governments combined and which is authorized to issue its own revenue bonds pursuant to this ordinance or any other applicable law. (d) amended. "District" shall have the meaning set forth in Section 37-45.1-102, C.R.S., as 2