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Town's Water Works Operating Fund, Water Capital Fund, and Sewer Revenue Bond Fund; and <br />WHEREAS, pursuant to Resolution 5 -94 of the Town the System has been and continues <br />to be operated as a "water activity enterprise" within the meaning of the Water Activity Law; <br />and <br />WHEREAS, it is the intent of the Town to. continue the operation of the System as a <br />water activity enterprise, and to reaffirm the "Town of Johnstown Water Activity Enterprise" <br />under the Water Activity Law; <br />BE IT ORDAINED By THE BOARD OF TRUSTEES OF THE TOWN OF <br />J'OHNSTOWN, COLORADO: <br />Section 1. Amendment of the 4funicipal Code. The Johnstown Municipal Code of <br />Ordinances shall be amended, by the addition of Section 13 -2, to read as follows: <br />Section 13-2. Town of J'obmstown, Water Activity Enterprise <br />(a) There is hereby established, pursuant to the terms and provisions of the Water <br />Activity Law, Title 37, Article 45.1, Colorado Revised Statutes (the "Water Activity <br />Law "), the 'Town of Johnstown Water Activity Enterprise" (the "Enterprise "). The <br />Enterprise shall consist of the business r�p`rft;nted by all of the Town's water and sewer <br />facilities and properties, now owned Ar her�mfter•acquited, whether situated within or <br />without the Town boundaries, including Ali'presei:4 or i fture improvements, extensions, <br />enlargements, betterments, repla ent4, or add ifioasIthereof or thereto (the "System "). <br />The Enterprise shall have all of ale authority, powers, rights, obligations, and duties as <br />may be provided or permitted by the Water Activity Law and the Colorado Constitution, <br />and as may be further prescribed by ordinance or resolution of the Town. <br />(b) The goveming body of the Enterprise (the "Governing Body ") shall be the Board <br />of Trustees of the Town, and shall be subject to all of the applicable Iaws, rules, and <br />regulations pertaining to the Board. Whenever the Board is in session, the Governing <br />Body shall also be deemed to be in session. It shall not be necessary <br />Body to meet separately from the regular and special meetings of the oBoard nor shall <br />it be necessary for the Governing Body to specifically announce or acknowledge that <br />actions taken thereby are taken by the governing body of the Enterprise. The Governing <br />Body may conduct its affairs in the same manner and subject to the same laws which <br />apply to the Board for the same or similar matters; provided that for purposes of §37- <br />45.1- 104(2), C.R.S. , the Governing Body shall authorize the issuance of bonds by <br />adoption of an ordinance. <br />(c) The Enterprise shall at all times and in all ways conduct its affairs so as to <br />continue to qualify as a "water activity enterprise" within the meaning of §37- 45.1 -102, <br />C.R.S., and as an "enterprise" within the meaning of Article X, Section 20, Colorado <br />