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ORDINANCE NO. as j
<br />AN ORDINANCE OF THE TOWN OF JORNSTOWN, COLORADO,
<br />FORMALLY REESTABLISWNG THE "TOWNOFJO$NSTOWN WATER
<br />ACTIVI'T'Y ENTERPRISE"; REPEALING ALL ORDINANCES OR OTHER
<br />ACTS IN CONFLICT HEREWITH; AND DECLARING AN EMERGENCY.
<br />WHEREAS, the Town of Tohnstown (the "Town"), in the County of Weld and State of
<br />Colorado (the "State "), is a municipal corporation duly organized and existing under the laws
<br />of the State; and
<br />WHEREAS, pursuant to the provisions of Title 35, Article 31, Part 4, Colorado Revised
<br />Statutes the Town is authorized to operate and maintain water and sewerage facilities consisting
<br />of any one or more: (i) works and improvements used in and as a part of the collection,
<br />treatment, or distribution of water for the beneficial uses and purposes for which the water has
<br />been or may be appropriated; and (ii) of the various devices used in the collection, treatment,
<br />or disposition of sewage or industrial wastes of a liquid nature or storm, flood, or surface
<br />drainage waters, respectively; and
<br />WHEREAS, pursuant to the provisions of TitJ Ie 35, Article 31, Part 4, Colorado Revised
<br />Statutes the Town has its own bonding capacity for the construction reconstruction,
<br />lease, improvement, betterment, or extension of any A r facilities or sewer facilities; and
<br />W ]UREAS, pursuant to the provisions of Tit1e' 37, Article 45, 1, Colorado Revised
<br />Statutes (the "Water Activity Law% State and local goverlm. gntal entities which have their own
<br />bonding capacity under applicable law are authorized; (i) to establish or continue to maintain
<br />water activity enterprises for the purpose of pursuing or continuing water activities, including
<br />the constriction, operation, repair, and replacement of water or wastewater facilities; and (ii)
<br />to issue or reissue bonds, notes, or other obligations payable from the revenues derivecj or to
<br />be derived from the function, service, benefits, or facility or from any other available funds of
<br />the enterprise, the terms and conditions of such bonds or other obligations to be as set forth in
<br />the resolution authorizing the same and, as nearly as practicable, as provided in Part 4 of Article
<br />35 of Title 31, C.R.S„ relating to the issuance of water and sewer bonds; and
<br />WHEREAS, in order to qualify as a water activity enterprise under the Water Activity
<br />Law, the enterprise must consist of a government water activity business owned by a
<br />governmental entity such as the Town, which enterprise receives under 10 of its annual
<br />revenues in grants from all Colorado state and Iocal governments combined, and which is
<br />authorized to issue its own revenue bonds; and
<br />WHEREAS, the Town has heretofore determined and undertaken to combine, operate,
<br />and maintain its water facilities and sewer facilities as a single public utility and income
<br />producing project (the "System ") and accounts for the financial operations of the System in the
<br />APPENDIX 1 TO CONTRACT #C 153719
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