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RESOLUTION NO. 1388
series of 1994
TITLE:
A RESOLUTION OF THE CITY OF WHEAT RIDGE CREATING AN
EMERGENCY RESERVE UNDER ART. X, SECTION 20 OF THE
COLORADO CONSTITUTION FOR THE 1993 FISCAL YEAR
Colorado
November
WHEREAS, an amendment to Article X, section 20 of the
Constitution was approved by the Colorado voters at the
3, 1992, general election; and
WHEREAS, such amendment contains spending, revenue, debt,
mill levy limitations, and emergency reserve requirements for local
governments; and
WHEREAS, "fiscal year spending" as used in Article X,
section 20, of the Colorado Constitution for fiscal year 1993 will
not be determined until the completion of the City's annual audit
in Spring 1994; and
WHEREAS, the 1% emergency reserve for 1993 required by
Article X, section 20 of the Colorado Constitution is calculated on
"fiscal year spending" for 1993; and
WHEREAS, in attempting to comply with the Article X,
section 20, the City does not waive and is specifically preserving
any rights and responsibilities it may have under Article XX of the
Colorado constitution, its home rule charter, and any otherlaw.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the
city of Wheat Ridge that:
1. In order to comply with the provisions of Article X,
Section 20 of the Colorado Constitution, a 1% emergency reserve of
1993 "fiscal year spending" is hereby established.
2. The specific amount of the 1993 emergency reserve
will be determined as a part of the audit process for 1993 upon the
official establishment of "fiscal year spending" for 1993.
DONE AND RESOLVED this
10th
day of January
, 1994
~~
Dan Wilde, Mayor
ATTEST:
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Wanda Sang, city-~lerk
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