A. Utilities is authorized to execute its business contracts in the name "Colorado Springs Utilities". Utilities' business contracts executed in the name "Colorado Springs Utilities" shall be deemed to have been executed by the City of Colorado Springs on behalf of its Utilities enterprise and shall be legally enforceable by the City or Utilities against third parties and by third parties against the City or Utilities to the same extent that would occur if the business contracts had been executed by the City of Colorado Springs on behalf of its Utilities enterprise. Furthermore, all contracts executed in the name of "Colorado Springs Utilities" shall be interpreted or construed by any reviewing court as having been executed by the City of Colorado Springs on behalf of its Utilities.
B. The Chief Executive Officer is authorized to execute all business contracts entered into by Utilities and all other contracts and agreements. The Chief Executive Officer may delegate this signatory authority by Utilities Enterprise Policy to staff reporting to the Chief Executive Officer and may provide by Utilities Enterprise Policy for the further delegation of this signatory authority. The Chief Executive Officer shall not have the authority to execute contracts or financial instruments that encumber or pledge the funds or other assets of the City of Colorado Springs, other than those of the Utilities, or otherwise affect the full faith and credit, of the City of Colorado Springs.
C. Notwithstanding the provisions of section 1.2.313 of this Code, related to the Mayor's powers and duties with respect to City contracts, the Mayor shall not have the duty or power to execute or sign business contracts entered into by Utilities, provided, however, that the Mayor may sign bonds, financial contracts and related documents entered into by Utilities as a ministerial function pursuant to section 4-10 of the City Charter. (Ord. 98-173; Ord. 01-42; Ord. 14-21; Ord. 18-42)