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ORDINANCE NO. 1412 SERIES 2003 AN ORDINANCE DESIGNATING AND ESTABLISHING THE CITY OF LOUISVILLE WATER AND WASTEWATER 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 of Colorado Constitution and the laws of the 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. 1167, Series 1994, and Ordinance No. 1168, Series 1994, both effective January 1, 1995, the City designated and established its water activity enterprise and its wastewater activity enterprise as enterprises; and WHEREAS, the City Council by this Ordinance desires to designate and establish such water and wastewater enterprises as a single water and wastewater activity enterprise; and WHEREAS, pursuant to Title 37, Article 45.1, C.R.S. (the "Water Activity Law"), state and local governmental entities which 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.R.S., relating to water and sewer revenue bonds; and WHEREAS, the City Council finds and determines that it operates a water activity enterprise and a wastewater activity enterprise; and WHEREAS, pursuant to the Water Activity Law and other applicable law, the existing water activity enterprise and wastewater activity enterprise of the City may be combined and operated as a single water and wastewater activity enterprise; and WHEREAS, the City Council finds that it would be in the public interest to combine such enterprises as a single enterprise and to expressly recognize such activities as an enterprise within the meaning of said Section 20 of Article X; and WHEREAS, the City Council finds and declares that the authority of Senate Bill 93-130, adding Article 45.1 to Title 37, C.R.S., 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 a water and wastewater activity enterprise for any other lawful purposes; and