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<br />RESOLUTION NO.7 - SERIES 2003 <br /> <br />A RESOLUTION RATIFYING A WATER ACTIVITY ENTERPRISE OF THE TOWN <br />OF COAL CREEK AND RATIFYING CERTAIN ACTIONS TAKEN BY THE <br />BOARD OF TRUSTEES. <br /> <br />WHEREAS, the Town of Coal Creek (the "Town"), in the County of Fremont and State <br />of Colorado, is a municipal corporation duly organized and existing under the <br />Constitution and the laws of the State of Colorado; and <br /> <br />WHEREAS, the Town has provided water services within its service area and has <br />historically operated its facilities as a government-owned business; and <br /> <br />WHEREAS, the Board of Trustees has determined and hereby determines that it is in the <br />best interest of the Town and its customers to establish a water activitY enterprise <br />pursuant to 37-45.1-101 et seq. Colorado Revised Statutes (the "Enterprise ACt") that <br />shall be operated as an enterprise within this meaning of Article X, Section 20 of the <br />Colorado Constitution (the "Amendment"); and <br /> <br />WHEREAS, the Board of Trustees has determined that the establishment of the <br />Enterprise will be in the best interests of its customers and promote the health, safety, <br />prosperity, secUrity and general welfare of those customers. <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF'IJfE <br />TOWN OF COAL CREEK, COLORADO IN THE COUNTY OF FREMONT ANt> <br />STATE OF COLORADO: <br /> <br />Section 1. Definitions. All terms used herein shall have the meanings in the <br />Enterprise Act unless otherwise defined herein. <br /> <br />Section 2. Enterprise Declaration. The Board of Trustees hereby finds <br />and determines that it has historically provided and will continue to provide water <br />services by means of the Town's water enterprise in conformity with all applicable'" <br />Colorado laws. The Board of Trustees further (I) recognizes and confirms that the <br />enterprise is an "enterprise" within the meaning of the Amendment and the Enterprise <br />Act, and (II) declares its intent that the Enterprise be operated and maintained so as to <br />exclude its aC9-vities from the application of the Amendment. <br /> <br />Section 3. Governimr Board. The Board of Trustees shall coi:1stitute the <br />governing board of the Enterprise (the "Governing Board"). The Governing Board shall <br />conduct the business of the enterpriseiIi. the same manner and follow the same <br />procedures as the Board ofTiustees. All official business of the Enterprise shall be <br />conducted at regularly scheduled or special meetings of the Board of Trustees. The <br />record of the proceedings of the Governing Board may be incorporated in the minutes of <br />the Board of Trustees meeting and shall not be required to be recorded separately. No <br />