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ORDINANCE NO. 20
(SERIES OF 2018)
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO,
AMENDING THE CITY CHARTER OF THE CITY OF ASPEN BY AMENDING
SECTION 10.5, TO ALLOW A DULY CREATED ENTERPRISE TO ISSUE REVENUE
BONDS IN AN AMOUNT NOT IN EXCESS OF$10,000,000 WITHOUT SUBMISSION TO
THE ELECTORATE CONSISTENT WITH THE PROVISIONS OF THE COLORADO
CONSTITUTION KNOWS AS THE TAXPAYER BILL OF RIGHTS(TABOR).
WHEREAS, the City Council desires to amend the City of Aspen Home Rule Charter to
allow enterprise funds to issue bonds without submission to the electorate consistent with the
provisions of the Colorado Constitution knows as the Taxpayer Bill of Rights(TABOR), and;
WHEREAS, Article XX, Section 10 of the Colorado Constitution authorizes home rule
municipalities to amend their home rule charters through such procedures as may be enacted by
the state general assembly; and
WHEREAS, the state legislature has enacted Section 31-2-210, C.R.S., which section sets
forth the procedures for amending a city's home rule charter requiring the adoption of an
ordinance, including a ballot title for the proposed amendment, and submission of the proposed
amendment to the electorate; and,
WHEREAS, Section 13.10 of the City Charter of the City of Aspen authorizes amendments
to the City Charter in the manner prescribed by the state constitution.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY OF ASPEN CITY
COUNCIL THAT:
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Section 1'
Section 10.5 of Article X of the Home Rule Charter of the City of Aspen is hereby amended by
adding at the end of the last sentence thereof the following:
and provided further, however, that revenue bonds for a duly created enterprise in
an amount not in excess of$10,000,000 may be issued without an election.
Section 2.
This ordinance shall not affect any existing litigation and shall not operate as an abatement of
any action or proceeding now pending under or by virtue of the ordinances repealed or amended
as herein provided, and the same shall be conducted and concluded under such prior ordinances.
Section 3.
If any section, subsection, sentence, clause, phrase, or portion of this ordinance is for any reason
held invalid or unconstitutional in a court of competent jurisdiction, such portion shall be deemed a
separate, distinct and independent provision and shall not affect the validity of the remaining
portions thereof.
Section 4•
This ordinance shall become effective only upon approval of the electorate of the City of Aspen at
the municipal election to be held on November 6, 2018, of a ballot question in substantially the form
that follows:
CITY OF ASPEN REFERENDUM NO.
AMENDMENT TO CITY CHARTER — TO ALLOW A DULY CREATED
ENTERPRISE TO ISSUE REVENUE BONDS IN AN AMOUNT NOT IN EXCESS
OF $10,000,000 WITHOUT SUBMISSION TO THE ELECTORATE CONSISTENT
WITH THE PROVISIONS OF THE COLORADO CONSTITUTION KNOWS AS
THE TAXPAYER BILL OF RIGHTS (TABOR).
Shall Ordinance No. 20, Series of 2018, be approved? Ordinance No. 20, Series of
2018, if approved, amends section 10.5 of the City of Aspen Home Rule Charter to
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allow a duly created City enterprise to issue revenue bonds in an amount not in excess
of$10,000,000 without submission to the electorate consistent with the provisions of
the Colorado Constitution knows as the Taxpayer Bill of Rights(TABOR).
Yes/For[]
No/Against[]
Section 5:
A public hearing on this ordinance shall be held on the 27`h day of August,at a meeting of the Aspen
City Council commencing at 5:00 p.m. in the City Council Chambers, Aspen City Hall, Aspen,
Colorado, seven(7) days prior to which a public notice of the same was published in a newspaper of
general circulation within the City of Aspen.
INTRODUCED, READ AND ORDERED PUBLISHED FOR SECOND READING as
provided by law,by the City Council of the City of Aspen on the 13`h day of August,2018.
Attest:
Linda Manning,City Clerk Steven Skadron,Mayor
FINALLY adopted, passed and approved this 27`x'day of August 2018.
Attest:
Linda Manning, City Clerk Steven Skadron,Mayor
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