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<br />:- - <br /> <br />r <br /> <br />TOWN OF NORWOOD <br />BOARD OF TRUSTEES <br /> <br />RESOLUTION: fi0112 SERIES 1995 <br /> <br />RATIFICATION OF NORWOOD WATER COMMISSION AS <br />WATER ACTIVITY ENTERPRISE FUND <br /> <br />WHEREAS, the Board of Trustees of the Town of Norwood (the "Town") <br />_ hereby finds, determines, and declares that it is necessary and desirable to <br />ratify the 'Town's establishment in 1993 of the Town of Norwood Water Activity <br />Enterprise Fund (the "Norwood Water Commission"); and <br /> <br />WHEREAS, CR.S. 9 37-45.1-101 et gg., enacted into law on March 30, 1993, <br />clarifies the terms and conditions under which a municipality may establish a <br />Water Activity Enterprise Fund. <br /> <br />NOW, THEREFORE, BE IT RESOLVED, that the Board of Trustees of the Town <br />hereby ratifies the establishment of the Town of Norwood - Water Activity <br />Enterprise, the Norwood Water Commission, created for the purpose of pursuing <br />and continuing water activities in connection with the provision of water to the <br />Town and the rural Wright's Mesa area, including water acquisition and the <br />construction, operation, repair, and replacement of water facilities; and <br /> <br />BE IT FURTHER RESOLVED, that, pursuant to and in accordance with Article <br />45.1 of Title 37, C.R.S., the governing body of the Norwood Water Commission is <br />as set forth in the agreement among the Town of Norwood, the Wright's Mesa <br />Rural Water System and the San Miguel Water Conservancy District dated <br />December 23, 1992; and <br /> <br />BE IT FURTHER RESOLVED, that the Norwood Water Commission is entitled <br />to exercise all powers, authority, rights, and responsibilities which are <br />exercisable by it in accordance with Article 45.1 of Title 37, C.R.S., and other <br />applicable law; and <br /> <br />BE IT FURTHER RESOLVED, that all assets and liabilities of the Norwood <br />Water Commission shall be accounted for in the Town of Norwood - Water Activity <br />Enterprise Fund; and <br /> <br />BE IT FURTHER RESOLVED, that the Board of Trustees of the Town ratifies <br />the authorization of the transfer of assets, liabilities and contractual rights to <br />the Norwood Water Commission in accordance with Article 45.1 of Title 37, C.R.S.; <br />and <br /> <br />BE IT FURTHER RESOLVED, the Board of Trustees of the Town ratifies the <br />authorization of the Norwood Water Commission to borrow funds for water <br />acquisition and the operation, repair, replacement and construction of Norwood <br />Water Commission facilities. <br /> <br />APPENDIX A <br />