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/, -~) .} ORDINANCE 429 AN ORDINANCE REPEALING ORDINANCE 417 CONCERNING THE ERIE FLOOD CONTROL PUBLIC WORKS PROJECT AND ADOPTING A NEW ORDINANCE ON A FLOOD CONTROL PUBLIC WORKS PROJECT WHEREAS, it has been determined by the Board of Trustees that proper flood control and drainage is necessary for the protection of the health, safety, and welfare of its citizens, and~ WHEREAS, the Board of Trustees finds that adequate flood control and drainage will protect propertY in the Town of Erie, and~ WHEREAS, floOd control and drainage improvements are public works, and; WHEREAS, the Board of Trustees finds that an opportunity exists to complete a flood control public works project using funding from State Energy Impact Assistance and Colorado Water Conservation Board's construction funds, and; WHEREAS, a new savings will be prOVided to Erie citizens upon completion of the flood control public works project and funding assistance thereof because the 100 ~ year flood hazard will be essentially eliminated from coal Creek. NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN OF ERIE, COLORADO. SECTION 1. FUNDS That a fund is created entided "Public Works". Funds formerly collected in the Drainage Fund will be deposited into said new fund. Erie municipal flood control and drainage revenues and expenditures, authorized by the Erie Board of Trustees, will be transacted through this fund. All revenues and fund balances will be used exclusively to repay the Colorado Water Conservation Board loans. Year end fund balances shall be retained in this fund for annual or reallocation by the Town of Erie with a cwce endorsement. In the event the year end fund balance exceed a one year advance payment balance, the Town may wish to allocate these funds to operation and maintenance activities. SECTION 2. PUBLIC WORKS FEE A monthly fee will hereby be assessed to all eXisting and future business and residential households having a water tap, regardless EXHIBIT B