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<br />\ <br /> <br />. <br /> <br />. <br /> <br />nearly as may be practicable, be issued pursuant to procedures substantially the same <br />as those set forth in Part 4 of Article 35 of Title 31, C.R.S.; except that the purposes <br />for which the W &S Enterprise may incur indebtedness shall not be so limited, and <br />except that such indebtedness may be sold at public or private sale. Notwithstanding <br />any other provision of law to the contrary, bonds, notes and other obligations may <br />be issued to mature at such times not to exceed forty years from their respective issue <br />date. <br /> <br />B. The Board of Selectmen may also authorize the issuance of <br />bonds, notes or other obligations in accordance with this chapter and in doing so shall <br />be deemed to be acting as both the governing body for the enterprise and the Board <br />of Selectmen. <br /> <br />13.40.050. Enterprise revenue, rates and charges. Revenues collected <br />by the W &S Enterprise for services rendered or provided through enterprise <br />activities, including revenue raised through charges, rates and fees, shall not <br />constitute or be deemed a tax, and shall not be subject to limitations as set forth in ' <br />Sections 20(4) and (7) of Article X of the Colorado Constitution. <br /> <br />13.40.060. Ratification and approval of prior actions. All actions <br />heretofore taken by the Board of Selectmen and officers of the Town of Georgetown <br />relating to the establishment and/or operation of the W&S Enterprise, and not <br />inconsistent with the provisions of this chapter, are hereby ratified, approved and <br />confirmed. <br /> <br />Section Two <br /> <br />This ordinance shall not have any effect on existing litigation and shall not operate as an <br />abatement of any action or proceeding now pending under or by virtue of any ordinance repealed <br />or amended as herein provided, and the same shall be construed and concluded under such prior <br />ordinances. <br /> <br />Section Three <br /> <br />The provisions of this ordinance are severable and the invalidity of any section, phrase, <br />clause or portion ofthe ordinance as determined by a court of competent jurisdiction shall not affect <br />the validity or effectiveness of the remainder of the ordinance. <br /> <br />INTRODUCED, READ, APPROVED AND ORDERED PUBLISHED AND/OR <br />POSTED ON FIRST READING on the 24t:h1ayof November ,1998. <br /> <br />3 <br />