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<br />SECTIO.SIX <br /> <br />Final Two Organizational Alternatives <br /> <br />the people of the valley that use the roadways over these washes as well as the adjacent property <br />owners. <br /> <br />Capital Design and Construction <br /> <br />Capital design and construction would be <br />another function of the selected organization. <br />Again, the program would be targeted at <br />large, multi-jurisdictional projects that have a <br />valley-wide impact. Unlike the three <br />previous types of activities, the capital <br />program involves the creation of <br />infrastructure, which will have to be owned <br />and maintained by a public entity. There are <br />basically two choices here: the new <br />organization can own and maintain the <br />facility, or the facility can be transferred to <br /> <br />the jurisdiction where it is constructed. If the <br />facility is not transferred, the new organization <br />becomes a land and facility owner with all the <br />attendant responsibilities, including, but not limited to, obligation to maintain <br />(Facilities include ponds, culverts, storm sewer pipes, and other infrastructure <br />stormwater conveyance or detention.) <br /> <br /> <br />Orchard Avenue Major Storm Sewer <br />Construction, Summer 1999 <br /> <br />facilities. <br />used for <br /> <br />6.2 TABOR ISSUES <br /> <br />The 1992 Taxpayers' Bill of Rights (TABOR) amendment to the Colorado constitution sharply <br />limits the amount of money the state government can collect from taxpayers and spend each <br />year. The limit, which applies to each Colorado local government, holds the maximum annual <br />percentage change in fiscal year spending to inflation in the prior calendar year plus annual local <br />growth. "Local growth" is defined as the net percentage change in actual value of all real <br />propeny in a local government from construction of taxable property improvements minus <br />destruction of similar improvements, and additions to, minus deletions from, taxable real <br />property. <br /> <br />The completion of the activities described above by a unified valley-wide organization for the <br />benefit of the local entities does not impact the TABOR requirements for each entity. In the case <br />of transferal, the transfer does not impact the jurisdiction's TABOR limitations, because TABOR <br />only applies to funding, not property. TABOR is only impacted if funds, not property, are <br />transferred. Therefore the benefits of providing services such as studies, management, <br />regulatory review, operations and maintenance and capital projects would not impact the <br />TABOR limits of the jurisdictions receiving the benefits. <br /> <br />Another possible activity or role for the new organization is the transfer of funds to the other <br />entities for support in carrying out their local drainage and flood control programs. This transfer <br />of funds does impact the TABOR limitations of an entity. If the entities do not want the TABOR <br />impacts associated with the fund transfers, they would need to create Water Activity Enterprises <br /> <br />URS <br /> <br />T:\PROJEC1S\22236022_GAAND_VALLEY\SUB_OO\e.OJ:>ROJ_DElIV\FINAl REPORT\F\NAL REPT REV 4.DOC'19-JUL-03\\ 6-3 <br />