A. Enterprise Operations: Patty Jewett Golf Course and Valley Hi Golf Course are each individual golf course enterprise operations of the City of Colorado Springs. The Manager shall operate the enterprises to ensure:
1. The enterprises remain self-sustaining government owned businesses which may issue revenue bonds;
2. The enterprises continue to receive over seventy five percent (75%) of annual nondebt revenue from nongovernment sources;
3. The enterprises continue to receive under ten percent (10%) of annual revenues in grants from all Colorado State and local governments combined; and
4. The City complies with the terms, conditions and restrictions of the deed of William Kennon Jewett, dated June 14, 1919, conveying the Patty Jewett Golf Course property to the City.
B. Accountability:
1. All claims against the enterprise operations shall be in accord with chapter 1 of this Code.
2. In accord with the provisions of chapter 1 of this Code, the City Auditor shall have those duties and responsibilities imposed by City Council to ensure the public accountability of the enterprise operations.
C. Contracts:
1. The Manager is authorized to execute all necessary contracts and agreements in the name of the enterprises. Business contracts executed in the name of the enterprises shall be deemed to have been executed by the City of Colorado Springs on behalf of the enterprises and shall be legally enforceable by the City or the enterprises against third parties and by third parties against the City or enterprises to the same extent that would occur if the business contract had been executed by the City of Colorado Springs on behalf of its enterprises. In addition, all contracts executed in the name of the enterprises shall be interpreted or construed by any reviewing court as having been executed by the City of Colorado Springs on behalf of its enterprises.
2. The Manager is authorized to execute all enterprise contracts and agreements except those which by the City Charter, this Code or other controlling law are required to be executed by a municipal officer of the City. The Manager may delegate signatory authority by administrative regulation to staff reporting to the Manager and may provide by administrative regulation for the further delegation of signatory authority.
3. Real or personal property donated to or acquired by the enterprises shall be held in the name of the City of Colorado Springs. (Ord. 01-42)