The following definitions apply to this article:
ALL YEARLY SAVINGS PASSED ON AS REDUCTIONS TO EACH CUSTOMER BILL IN DOLLAR AMOUNTS AS EQUAL AS POSSIBLE: Enterprise fees, rates, and charges as established in the regular course of business after consideration of relevant financial factors, including any savings resulting from the phaseout of enterprise payments to the City.
ASSET: A tangible or intangible thing of value regardless of whether the thing of value provides direct or measurable benefits to the City or the enterprise. "Asset" includes, but is not limited to: a) cash and other funds; b) services, including studies and reports, provided by consultants, c) police and fire services consumed or made available, d) street and traffic services consumed or made available, e) all other City services used, consumed or made available, f) memberships in organizations that provide technical advice and services, and g) any other thing that confers value or is intended to confer value. "Asset", as the term relates to a specific enterprise, includes only the proportional share of the total cost of an asset that is allocated to the enterprise by way of the budget adopted by City Council.
CITY: The municipal government of the City of Colorado Springs, Colorado. For purposes of this article only, "City" does not include enterprises of the City.
CONSIDERATION: Anything of value, and includes any direct or indirect service, benefit, cash, or other tangible or intangible asset, regardless of whether or how the service, benefit, or other tangible or intangible asset can be measured. Consideration may be measured, in whole or in part, by the amount of taxes that would have been paid by the enterprise if the enterprise were a taxable entity. The determination of consideration is administrative in nature.
ENTERPRISE: A business function that: a) qualifies as an "enterprise" under Colorado Constitution article X, section 20(2)(d), b) qualifies as an "enterprise" under Charter subsection 7-90(b)(5), and c) is classified as an enterprise by the City. Enterprise includes the municipal enterprises, Colorado Springs Utilities, and MHS Enterprise.
GIFT: A benefit or a transfer of an asset without consideration. "Gift" includes the transfer of funds made solely because an enterprise is exempt from the obligation to pay taxes. "Gift" does not include a transfer of funds if the funds are held in a fiduciary capacity. "Gift" does not include the transfer of funds to the general revenues of the City of the remaining surplus of the net earnings of Colorado Springs Utilities if the transfer is authorized in the annual budget and appropriation ordinance adopted by City Council, as provided in Charter subsection 6-40(b). "Gift" does not include a transfer of funds to satisfy an obligation existing as of the date Issue 300 became effective, or a transfer of funds required by law. "Gift" does not include a transfer of funds for the purpose of making an investment, or a transfer of funds that represents a return on an investment. "Gift" does include payments and subsidies.
HEREAFTER: Following immediately in sequence of time or order. For purposes of interpreting Issue 300, the prohibition against all loans, gifts or subsidies between an enterprise and the City shall become effective from and after the required publication of the initiated ordinance in accord with City Charter subsection 12-60(b)(2)(i).
LOAN: The undertaking of a financial obligation of the City by an enterprise, or the undertaking of a financial obligation of an enterprise by the City, where the undertaking extends past the fiscal year. "Loan" does not include the undertaking of an obligation that extends past the fiscal year if the obligation is secured with adequate present cash reserves irrevocably pledged and held for all future payments.
PAYMENT: The transfer of assets or other benefits without equivalent consideration.
SUBSIDY: Providing funds or things of value for the purpose or with the knowing effect of augmenting the resources of another entity. (Ord. 10-27; Ord. 15-68)
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