HomeMy WebLinkAboutR14-028 Open Space Preservation Reserve Fund •
Commissioner TA. s moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
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RESOLUTION NO.2014- V (�
RESOLUTION ESTABLISHING THE OPEN SPACE
PRESERVATION RESERVE FUND
WHEREAS, in 2002, Eagle County residents voted to create a dedicated funding
source (the"Open Space Tax") for open space acquisition and maintenance(the"Open Space
Program"); and
WHEREAS,by 2014,the Open Space Program had acquired many properties
throughout Eagle County that require maintenance; and
WHEREAS,the Open Space Tax supporting the Open Space Program is scheduled to
expire in 2025,unless extended by the a vote of Eagle County residents; and
WHEREAS,the Eagle County Open Space Advisory Committee recommends Eagle
County designate a portion of the Open Space Tax for long-term maintenance of land acquired
through the Open Space Program and associated recreational infrastructure ("Open Space
Property")through the establishment of a preservation reserve fund(the "Reserve Fund"); and
WHEREAS,the Eagle County Open Space Advisory Committee recommends that
$100,000 of the Open Space Tax be designated for the Reserve Fund for 2014; and,thereafter,
for each year that the Open Space Tax is in effect. The Open Space Advisory Committee
recommends the Reserve Fund contain at least$1,200,000 by 2025.
WHEREAS,the Reserve Fund may not be used for maintenance of Open Space Property
until such point and time that the Open Space Program Tax, or some other similar dedicated
funding mechanism, ceases to exist; and
WHEREAS, future contributions to the Reserve Fund must be approved through the
Eagle County annual or supplemental budget process.
NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT,the Board of Commissioners of the County of Eagle State of Colorado (the
"Board")hereby directs the Open Space Department, with assistance from the Eagle County
Finance Department,to establish a dedicated Reserve Fund for long-term stewardship and
maintenance of Eagle County Open Space Property; and
THAT,the Board hereby approves the designation of$100,000 to the Reserve Fund in
2014 and for each year thereafter that the Open Space Tax is in effect; and
THAT,any and all interest earned on funds held in the Reserve Fund must be retained
within the Reserve Fund; and
THAT, funding of the Reserve Fund for 2014 and for subsequent years must be approved
through the Eagle County annual or supplemental budget process.
THAT,the Board of County Commissioners finds determines and declares that this
Resolution is necessary for the public health safety and welfare of the citizens of the County of
Eagle, State of Colorado.
MOVED,READ AND ADOPTED by the Board of Cory ty Commissioners of the County of
Eagle, State of Colorado, at its regular meeting held the 0 day of April, 2014.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
ATTEST: OF f,Ac
°C; 1°C" 4 :4 : I Z..s /
iop
Clerk to the B B. d of °tow° r`an .. Ryan
County Commissioners /ha' an
14.x`-►'. �� �` Rt,ry i� / !/ :Le 11
Lev 1I /` . /Ar
athy C s dler-Henry
Commis suer
Sara . Fisher
Commissioner
2
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Commissioner b LAC-10- seconded adoption of the foregoing resolution. The roll having
been called,the vote was as follows:
Commissioner Ryan IA
Commissioner Chandler-Henry S
Commissioner Fisher 04-0
The Resolution passed by /U vote of the Board of County Commissioners of the County of
Eagle, State of Colorado.
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