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<br />\ <br /> <br />. <br /> <br />. <br /> <br />which enterprise shall include and consist of all existing facilities, services and <br />properties owned, or hereafter acquired, by the Town of Georgetown for the <br />provision of water and/or wastewater services to customers within or without the <br />boundaries of the Town of Georgetown. The W&S Enterprise is authorized and <br />empowered to establish or acquire, or continue to provide, raw or treated water <br />resources and water and wastewater treatment facilities, and shall possess all of the <br />powers, rights and duties as may be provided or permitted to a water activity <br />enterprise under state law and/or the ordinances of the Town of Georgetown, <br />including the power to enter into contracts with the Colorado Water Conservation <br />Board and Colorado Water Resources and Power Development Authority for loans <br />and other financial assistance related to water activity enterprise functions. <br /> <br />13.40.020. Governing body. The governing body ofthe W &S Enterprise <br />shall be the Board of Selectmen for the Town of Georgetown and, except as <br />otherwise provided in this chapter, shall be subject to all of the applicable laws, rules <br />and regulations pertaining to the Board of Selectmen. Whenever the Board of <br />Selectmen is in session, the governing body for the W &S Enterprise shall also be <br />deemed to be in session. It shall not be necessary for the governing body to meet' <br />separately from the regular and special meetings ofthe Board of Selectmen, 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 <br />governing body may conduct its affairs in the same manner and subject to the same <br />laws which apply to the Board of Selectmen for the same or similar matters; except <br />that in accordance with Section 37-45,1-104(2), C.R.S., the governing body may <br />authorize the issuance of bonds by adoption of a resolution. <br /> <br />13.40.030. Maintenance of enterprise status. The W &S Enterprise shall <br />at all times and in all ways conduct its 3ffairs so as to continue to qualify as a water <br />activity enterprise within the meaning of Section 37-45.1-102, C.R.S., and as an <br />enterprise within the meaning of Article X, Section 20 of the Colorado Constitution. <br />Specifically, but not by way of limitation, the W&S Enterprise shall not be <br />authorized to accept or receive ten percent (10%) or more of its annual revenue in <br />grants from all Colorado state and local governments combined, and shall maintain <br />separate and distinct records and funds respective to its expenditures and revenues. <br /> <br />13.40.040. Issuance of bonds-other indebtedness. A. The W&S <br />Enterprise is empowered and authorized to issue and reissue bonds, notes and other ' <br />forms of indebtedness payable from revenues derived, or to be derived, from the <br />operation of enterprise facilities and through the delivery of services, or from any <br />other funds available to the enterprise. The issuance of all debt shall be approved and <br />undertaken by written resolution at a public meeting preceded by notice. The terms, <br />conditions and details of any bonds, notes or other debt, and the refunding thereof, <br />shall be set forth in the resolution authorizing any such indebtedness and shall, as <br /> <br />2 <br />