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Winter Park Water and Sanitation District <br /> ' NOTES TO FINANCIAL STATEMENTS <br /> (continued) <br /> December 31, 2010 and 2009 <br /> The District's management believes it is in compliance with the provisions of TABOR. <br /> However, TABOR is complex and subject to interpretation. Many of the provisions, <br /> ' including the interpretation of how to calculate Fiscal Year Spending limits and <br /> qualification as an Enterprise will require judicial interpretation. <br /> ' In November 2007, a majority of the District's electors authorized the District to collect, <br /> retain, and expend each year all revenues it receives, in fiscal year 2008 and <br /> thereafter, from all sources, as a voter approved revenue change and without regard to <br /> spending, revenue raising, or other limitation contained within Article X, Section 20 of <br /> the Colorado Constitution, the property tax revenue limitation of Section 29-1-301, <br /> Colorado Revised Statues, or any other law. <br /> 1 <br /> 1 <br /> ' 23 <br />