The URL can be used to link to this page

Home My WebLink About2003 Ordinance No. 031• • • ORDINANCE NO . X SERIES OF 2003 BY AUTHORITY COUNCIL BILL NO . 26 INTRODUCED BY COUN CIL MEMBER GARRETT AN ORDINANCE OF THE CITY OF ENGLEWOOD , COLORADO , CREATING THE "ENGLEWOOD HO USING REHABILITATION ENTERPRISE FUND " IN RESPONSE TO CHANGES TO ARTICLE X. SEC';JO N 20 (TABOR) OF THE STATE OF COLORADO . WHEREAS, the City of Englewood Housing Rehabilitation Enterpris e fund has operated in practice as an enterpri se fund in the past but has not been officially designated as su ch; and WHEREAS , this action is taken to comply with Ar,cle X, Section 20 (TABOR), of the Colorado State Constitution; and WHEREAS, under TABOR, the issuance of debt or other financial obligations of an enterprise is not restricted ; and WHEREAS, it is tl1e intent of the City :o continue the operation of the Englewood Housing Rehabilitation Program as an enterprise within the meaning of TABOR. WHEREAS, pursuant to Article X, Section 20, of the Colorado Constitution ("TABOR"), an "enterprise" is a govcmmeot~owned business authorized to issue its own revenue bonds and receiving under IO% of annual revenue in grants from all Colorado state and loca l governments combined. NOW, THEREFORE , BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ENGLEWOOD , COLORAUO, THAT: Section I. There is hereby established the "Englewood Housing Rehabilitation Enterprise Fund" (The Enterprise). The Enterpri se shall consist of the business represented by the City 's Home Rehabilitation Fund Program located at !000 Englewood Parkway , Englewood , Colorado 80110. The Enterprise shall have all of the authority, powers, rights , obligations and duties as may be provided or permitted by the Charter and the Co lorado Con st itution and as may further be prescribed by ordinance of the City . Sec tion 2. Governing Body . The Governing Dody ofThe Enterpri se shall be the City Council of the City and sh all be subject to all the applicable laws , rule s, and regulati ons pertaining to the City Council. Whenever the City Council is in ses sion, the Governing Body shall also be deemed to be in session . It shall not be nece ssary for the Governin r Body lo meet separatel y from the regular an d speci al mee tings of Ci ty Council, nor shall it be .,ece ssary for the Governing Body to specifica ll y announce or acknowled ge tha t action s taken hcrcUy arc taken by Lht · qveming Body of The Enterpri se. The Govern ing r 1dy may conduct it s affa irs in the same ma. ,er and subject to the same laws that appl y to City Council for the same or simil ar matters. Section 3. Maintenance of Enterprise Status . The Enterprise shall al all tim es and in all ways conduct its 1fTairs so as to co ntinue to qualify as an "Enterprise" within th e meuning of TABOR . ~pecifi ,:all y, but not by way of limitation , The Enlerprl ,e is not authori zed to and sh all 10 b iii not receive ten percent (10%) or more of it s annu al revenu e in gran ts from all Colorud o state and loca l governments combined . Section 4. Iss uance of Bonds. The Enterprise is authorized to iss ue bonds, note s, or other obligat ions payable from the re ve nue s derived or to be derived from the enterprise, in accordance with the Chart er. The City Council may also authorize the issuance of su ch bond s, note s, or other ob li gati ons in acco rdance wit h the Charter and, in so doing , shall be deemed to be acting 1s both the Governing Body and the City Council. Section 5. Ratification and Approval of Prior Actions. All actions he re tofore taken by th e officers of the City and members of the Council not inconsistent with the provisions of this Ordinance relat ing to the operation or creation of The Enterprise are hereby ratified , approved , and confinned. Section 6. Repealer . All orders, byl aws, ordinances, and reso lutions of the City, or parts thereof, inconsistent with or in conflict with this Ordinance are hereby repealed to the extent only if of such inconsistency or conflict. Section 7. Se verability. If any sectio n, paragraph, clause, or provision of this Ordinance shr:· 'or any reaso n be held to be invalid or une nforceable , the invalidity or unenforceability cf th iJ iu ·tion, raragraph, clause or provision shall not affect any remaining provisions of this Ordi.ns. ~ice, the intent being that the same are severable. Section 8. Recording aud Authentication . Upon adoption hereof, this Ordinance shall be recorded in a book ke pt fo r the purposes and shall be authenticated by the signature of th e Mayor and City Clerk . Section 9. Effective Date. This Ordinance shall take effect thirty days afte r the publication following final passage . 2003. Introduced , read in full , and passed on first reading on the 1• day of April , 2003 . Published as a Bill for an Ordinance on the 11 • day of April, 2003 . Read by title and passe d on fi nal reading on the 21" day of April, 2003 . Published by ti tle as Ordinance No . _;;i._, Series of 2003, on the 25• da y of April, ~' Loccrishia A. Ellis, City Clerk ... •,I ·"' • • • • • • I, Loucrishia A. Ellis, City Clerk for th e City of Englewood , Colorado, hereby certi~ the above and foregoing is a true copy of the Ordinance passed on final re ing and published by title as Ordinance No. _Jj___, Series uf2003 . • • COU NCIL COMMUN ICATIO N Da te Age nd a It em Sub ject Ap ri l 7, 2003 10 a ii Bill for an Ordinance Creating th e City of Englew<>od H o using Rehabili tation Enterprise Fund In itiated By I Staff Source Dr•1artment of Fin an ce and Administra tive Services Frank Grvelewicz, Direc tor COU NCIL GO AL AN O PRE VIOU S COUNCIL ACTIO N Coun cil approved Ordinance 2u, Series of 1993 on final reading M ay 3, 1993 c reat in g the Storm Water Ent erpris e Fund. Counci l approved Ordinance 57, Series of 1993 o n final rea din g D ece mber 20, 1993 creating the Englewood Municipal Golf Course Enterprise Fund. Counci l adopted Ordinance 78, Seri es of 199 7 o n September 15, 1997 reaffirmi ng th e estab lishment of th e Water Utility Enterprise . RECOMMENDED ACTIO N Staff recommends Council approve th e att ac hed bill fo r ordinance crea tin g th e City of Englewood Housing Rehabilitation Ent erpris e Fund . BA CKGROU ND, ANALYSI S, ANO ALTE RNA',l VES IDENTIFIED The City of Eng lewood Housing Rehabilitati on Ent erpr ise Fund has o p erated as an enterprise in th e past, hut has n ot offic iall y designated itself as su ch. Th e res t o f th e Ci ty's enterpris e funds ha ve taken thi s acti on in response to changes to Articl e X, Sec tion 20 (TABOR ) of th e State constitution. N o oth er altern atives w ~r e id entifi ed. FIN AN CI AL IM PA CT Thi s ac tion should not impact th e City of Er,glewood's fi nanc ial co ndition. usr OF ATTAC HMEN TS Pr op ose d bill fo r an ordin ance