PROJC01676

• Contract/PO #: C153677
• Contractor Name: Rangely, Town of
• Contract Type: Loan
• Water District: 0
• County: Rio Blanco
• Bill Number: SB 80-67
• Loan Projects - Doc Type: Contract Documents

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RESOLUTION # 9~~-/71

A RESOLUTION OF THE BOARD OF TRUSTEES OF THE TOWN OF RANGELY
SUMMARIZING EXPENDITURES AND REVENUES FOR THE GENERAL FUND, WATER
FUND, GAS FUND, WASTEWATER FUND, CONSERVATION TRUST FUND, AND
RANGELY DEVELOPMENT CORPORATION FUND, AND ADOPTING FOR SAID FUNDS
BUDGETS FOR THE FISCAL YEAR BEGINNING JANUARY 1, 1994, AND ENDING
DECEMBER 31, 1994.

WHEREAS, the Town Council of the Town of Rangely directed the
Town Manager to prepare and submit a proposed budget in
accordance with State law; and

WHEREAS, said budget, after due and proper notice, was open for
public inspection at the Municipal Building and ample opportunity
was given for public input; and

WHEREAS, the appropriation of expenditures in said budget has
been balanced by estimated revenues as required by State law;

WHEREAS, the provisions of Article X, Section 20 of the Colorado
State Constitution, said Article and Section commonly known as
Amendment one, impact said budget;

Section 3. That all unencumbered cash at the end of the 1993
fiscal year in the Conservation Trust Fund and in the General
Fund after the designation of emergency reserves are designated
general reserves effective 12/31/93, the exact amount of said
general reserves subject to adjustment based on actual 1993
fiscal year revenues and expenditures;

Section 4, That said Board retains the right and authority to
amend the amount of said general reserves by returning all or a
portion to unencumbered cash in order to phase the designation of
such cash into general reserves, thereby maintaining more
realistic spending limits, if future interpretations of or court
rulings on Amendment One should allow said phasing.

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