C150152 Contract

• Contract/PO #: C150152
• Contractor Name: New Castle, Town of
• Contract Type: Loan
• Water District: 39
• County: Garfield
• Loan Projects - Doc Type: Contract Documents

e. To set rates, fees, and charges for servioes provided by the Enterprise;

f. To enter into contnlcts relating to this water and sewer system service in the manner
in which Town contracts may be entered imo;

~. To make representations, warranties, and covenants on behalf oftbe Town. and to
bind the Town to perfonn any obligation relating to the water and sewer system and
service, other than any multiple-fiscal year direct or indirect debt or other financial
obligation of the Town. without adequate present cash reserves piedged irrevocably
and held for payments in all future years.

The powers and authority specifically conferred herein shall not modify, limit, or restrict the
powers conferred on the Enterprise by any other law directly or indirectly affecting the water and
sewer activities of the Enterprise., except as e)Cp1"essly provided herein. The Enterprise shall have no
power which adversely atr~'"b lh~ :;l81U9 oftbc EntGrprisc for purposes oftJ1e application ofT ABOll.

.!Section 8. Taxes. In no event shall the Enterprise have the power to levy or assess any taX
which is subject to TABOR or to direct the Town to exercise it's taXing power>> on bdudC oCthe
Enterprise.

Section 9. Gnmts. The Enterprise shall not accept or receive any revenue in grantS (as
defined in the Act) from any state or local government, unless expressly authorized by the Board of
Tmstees.

Section 10, Contracts, All contracts relating to W8ler activities shall be approved by the
governing body of the ];nterprises and executed by Rnterpri!J.e officers. Any pre-existing contract
relating to sanitation activities shall be considered as having been approved by the governing body.
All contracts relating to water activities sball be implemented and discharged by the Bntetprise, unless
otherwise provid~d by Lhc: Board ofT~.

Section 11. Revenue. All revenue for water activity services and facilities provided by the
Enterprise. including rates. fees, tolls., eharges, pa.yments for services to the Town., and aU other
income of the Enterprise shall be collected, used, and expended for water activity pwposes as
determined by the governing body in accordance with and as set forth in the fiscal budget of tbe
Enterprise adopted pursuant to law. Rates for water activity services and facilities provided by the
Enterprise shall be established by the governing body, approved by the Board of Trustees, and
collected and enforced in accordance with state law.

SectiOILJ 2. Rntef1lrise Fund. An Enterprise fund sball be established to separately account
for nl1 revenue and egpendirures of the EnteIpnse. The Enterprise Mall prepare an annual budget and
perform an annual audit which may be included in the budget or audit oftbe Town. All budgets,
reports. audits., and financial operations of the Bnterprise shall confonn to and be prepared in
accordance with generally-accepted accounting principles a.pplicable to governmental (enterprise)
units and other requirements of srate law.

Section 13. Miscellaneous. Nothing set forth in this Ordinance shall be construed to limit
the authority of the governing body or,the Enterprise to utilize other policies or procedures for
operating or continlling the Enterprise in confonnance with the Am: and TABOR, except as otherwise