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ORDINANCE NO. 1502 SERIES 2006 AN ORDINANCE AMENDING ORDINANCE NO. 1412, SERIES 2003 TO INCLUDE STORMWATER ACTIVITIES WITHIN THE CITY OF LOUISVILLE WATER AND W ASTEW ATER ACTIVITY ENTERPRISE WHEREAS, the City of Louisville (the "City") is a home rule municipal corporation duly organized and existing under the City's Charter adopted pursuant to Article XX ofColorado Constitution and the laws ofthe State of Colorado; and WHEREAS, Section 20 of Article X of the Colorado Constitution provides that "enterprises" as defined therein are exempt from all provisions thereof; and WHEREAS, by Ordinance No. 1412, Series 2003, the City designated and established the City's then-existing water and wastewater activity enterprises as a single water and wastewater activity enterprise; and WHEREAS, City Council by this Ordinance desires to formally include within such water and wastewater activity enterprise the City's stormwater activities; and WHEREAS, pursuant to Title 37, Article 45.1, C.RS. (the "Water Activity Law"), state and local govemmental entities that have their own bonding capacity under applicable laws are authorized: (i) to establish or continue to maintain water activity enterprises for the purpose of pursuing or continuing water activities; and (ii) to issue or reissue bonds, notes, or other obligations payable from the revenues derived or to be derived from the function, service, benefits, or facility or from any other available funds of the enterprise, the terms and conditions of such bonds or other obligations to be as set forth in the resolution authorizing the same and, as nearly as practicable, as provided in Part 4 of Article 35 of Title 31, C.RS., relating to water and sewer revenue bonds; and WHEREAS, Title 37, Article 45.1, C.RS. defines water activity to include the provision of stormwater services; and WHEREAS, the City Council finds that it would be in the public interest to expressly recognize and include within the existing water and wastewater activity enterprise the stormwater activities of the City; and WHEREAS, the City Council finds and declares that the authority of Senate Bill 93-130, adding Article 45.1 to Title 37, C.RS., is in addition to all other authority provided by law and that the City Council has the authority to utilize other policies and procedures for operating or continuing its stormwater activities as enterprise activities within the meaning of Section 20 of Article X of the Colorado Constitution; and WHEREAS, the City of Louisville has its own bonding authority under various provisions ofthe Colorado Constitution, Colorado Revised Statutes, and its home rule Charter;