Ordinance 2003-1412 - Laserfiche WebLink

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~. Establishment of Ente~rise. (a) There is hereby recognized, established and designated the "City of Louisville Water and Wastewater Activity Enterprise (the "EnterpriSe"). The Enterprise shall consist of the business represented by all of the City's water, wastewater and sewer facilities and properties, now owned or hereafter acquired, whether situated within or without the City boundaries, including all present or future improvements, extensions, enlargements, betterment, replacements, or additions thereof or thereto. The Enterprise shall have all of the authority, powers, rights, obligations, and duties as may be provided or permitted by the laws of the State, and the Colorado Constitution, and as may be further prescribed by ordinance or resolution of the City. (b) The Enterprise shall continue to be a wholly owned business of the City of Louisville and shall not be combined with any municipal activity enterprise owned by another district. The Enterprise may continue to conduct the activities and provide the services as provided for in the ordinances of the City and the regulations adopted pursuant thereto. This paragraph shall not limit the authority of the Enterprise to contract with any other person or entity, including other districts or enterprises. Section 3, Governing Body, (a) The governing body of the Enterprise (the "governing body") shall be the City Council of the City of Louisville, and shall be subject to all of the applicable laws, rules, and regulations pertaining to the City Council. Whenever the City Council is in session, the governing body shall also be deemed to be in session. It shall not be necessary for the governing body to meet separately from the regular and special meetings and worksessions of the City Council, nor shall it be necessary for the governing body to specifically announce or acknowledge that actions taken thereby are taken by the governing body of the Enterprise. The governing body may conduct its affairs in the same manner and subject to the same laws which apply to the City Council for the same or similar matters; provided that in accordance with §37-45.1-104(2), C.R.S., the governing body may authorize the issuance of bonds by adoption of a resolution or an ordinance. (b) The governing body of the Enterprise may exercise the City's legal authority relating to water and wastewater activities, but no enterprise may levy a tax which is subject to Section 20(4) of Article X of the Colorado Constitution. Section 4. Maintenance of Enterprise Status. The Enterprise shall at all times and in all ways conduct its affairs so as to continue to qualify as a "water activity enterprise" as defined in §35-45.1-102, C.R.S., and as an "enterprise" as defined in Article X, Section 20 of the Colorado Constitution. Specifically, but not by way of limitation, the Enterprise is not authorized to and shall not receive ten percent or more of its annual revenue in grants from all Colorado state and local governments combined. Section .~, Issuance of lqonds, The Enterprise maintained pursuant to this ordinance, through the City Council of the City of Louisville, may issue or reissue revenue bonds, notes, or other obligations payable solely from the revenues derived or to be derived from the functions, 3