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<br />_. _.JUG-27~99 FRI 10:07 AM <br /> <br />. Fax:3038663558 <br />LVLD eER ~ POWER <br /> <br />Dee 22 '99 <br />FAX NO. 9709"00 <br /> <br />15:44 <br /> <br />P.03 <br />P. 3 <br /> <br />body of the Enterprise and of the BntClprise. The Ma.yor of the City sball serve as President ofthc <br />2nterprise; tl\e City Clcr't $ball &m'G II S~IUY of the Bntetpri.slI; the D~uty City Manager shall <br />fieEVe as the Treasurer or~e Enterprise; and the City Attamey sha115erve IS the Attomey oflhe <br />Bntef1)rin, <br /> <br />Section 4. pawer.J f}f ~n~sl!l. lbe El'Llerpftse shall bave and may ex~iso the <br />followins powers in fL1t1hmnce or its Wa~ Aeti\lities pUrPOSeS: to hold meetings wncumntly <br />with regular or special meetings of the Council, '0 adopt orcliDam:es in '&he UllMer in whicb Ci\y <br />otc1inanCClIDa.y be IdClpted; to issUe revenue baDA1J in the manner in which City rweftue bcmds may <br />be issued, withOUt weer apptowl in advance; to pledge idlY rlJ\'enues amved or to be derived from <br />\he functions. setYice.s, beuC6.\lor facilities atthe Water Aetiviri.es of tile City or any other availab!o <br />lunds or tbe Rntsrprise to the pa.ymcnt of 5Ueh mven\Jc bonds and to pay such revenue bonds <br />thereii'am; to enter into contraCtS re1atiftg to 1hc: Viaer system of die City (the 'System" in the <br />manner in whiGh City contractJl may be entered into~ to make xeprca=tatiou. wananties and <br />covenants on behalf of tho City and to bind the City m perform my obligation IClIIing to the System <br />other than my mul'tiple-fiSQ! year direct or indirect debt or ather finlDcial obligaUOG of.1he City <br />withC)ut adcq,uate pra8llteash reserves pledged irrevo~ly and hetel for psyments in all mture yeara~ <br />to have and use a seal; to sue and be sued in its 0Wl1 DamS and to enrcise 1I!l)' of the City's teas! <br />authority relating to Wr41:r AcU..ities. Notwithstanding the foregoiol, the :Enterprise may not levy <br />a tax that is subjo:& to m. X, . 20(4) of the Colondo ConstihlUOn. . <br /> <br />Section s. 'PnwerB lletained by CitY. The City sba1l t.O!lti.ftue to O'tllll the assets ordle <br />Systcm~ a~re and QOnvcy properties constituting partofthe S)'1lem; mmage. operate BDd maintain <br />the SyJtcm; employ and discharge thel of!cers.ltlmagm and. emplo~ gffb~ System; k~ boob <br />and RCOMs relating to lhl: S)'Jtcm; invest and rumas8 fUnds. budget and approptilte revenues and <br />mcpen.dilures of tbe system; award and execute eontracts and make ~enailUles ~\ating to the <br />System: fa.lldjust and collect wat~ rates, fees., tolls ad chargee and tap fees and pll5cribc tulcs <br />aod flgulations ~lating let the S)'Ilem. lhe City may 81so borrow mOft.cy. i:lsUI bonds or eftta' i!lta <br />ether rmancial obllgllioos relating to the System lllr provided in the Colorado Constitution ami <br />statutes. <br /> <br />Section 6. O\l.ts.~ndinupd Future Obliptiom., hly pledg~ of the net reoienuel or <br />th~ Sy~ shan b~ subjC:C11O ~y limitations OD furme pledges tbereofconUiDeG in any ordiu&Dcc <br />oflhe Council autho~ UlV i$$UilI'lce otoutst:mcling bonds Of other o'bligatiOJlS oCthe City payabls <br />&am tho same SOU%OI or sources. All bonds or other obligalions issued by oIdiD.aUce of the CmmCil <br />payable from the net revenues of the system.and all revenue bonos or other obligations issaed by <br />ordinance of the governing body of the Entetprlse payable solely from thl n.et r~ues of the <br />System shall be \tcau:d 8S having the lame obligor and as being payable in whale or in part from the <br />same source or SOlUGea. <br /> <br />Seet.ion 7. ID"'~istf:rIt Provisions, /urJ ineoaaiztency belWeen the provisions ot"this <br />Ordinsmc:e and tholo ohhe Ad. is intended by the Council. To tho C'Xc=t of1ft)' sud1 iDconsis~y <br />the provisions oftbis Ord~ shaU be deeEned lDIde plJmJant to the hotnD rule dDner OfIhCi City <br />and ahall supersede to the c;"tcn~ permitted by law the conflictins provisioas oftbe Act. <br /> <br />2 <br />