Downtown Development Authority Mail Ballot Election - November 7, 2006 - Senate Bill 03-139 (§ 1-7-908, C.R.S.) Notice
Colorado Springs Downtown Development Authority by the City of Colorado Springs
NOTICE IS HEREBY GIVEN by Kathryn M. Young, the Designated Election Official for the proposed Colorado Springs Downtown Development Authority (the "Authority") by the City of Colorado Springs of information required under Section 1-7-908, Colorado Revised Statutes. The Authority has not yet been created.
| General Fund and Debt Service Fund Information for the proposed Authority | |||
| Year | Revenues | Expenditures | Ending Balance |
| 2002 | $0 | $0 | $0 |
| 2003 | $0 | $0 | $0 |
| 2004 | $0 | $0 | $0 |
| 2005 | $0 | $0 | $0 |
| 2006 (estimated) | $0 | $0 | $0 |
Short Term Debt Information
As the proposed Authority has not been created, the Authority has not had any Short Term Debt in any of the last four fiscal years and does not expect to have any during the current fiscal year.1
Emergency Reserve
The proposed Authority emergency reserve required by Section 20(5) of Article X of the Colorado Constitution has not been funded, as the Authority has not been created.
Financial Information Review
As the proposed Authority has not been created, the Authority does not have audited or estimated financial statements for the last four fiscal years, does not have any management letters that have been made public and provided to the Authority by its auditors in connection with the preparation of its audits for the last four fiscal years, and does not have a budget for the current fiscal year. As none of these documents exist, there is no location to review the documents.
Ordinance Authorizing Election
A copy of Ordinance 06-135 authorizing the election concerning the Colorado Springs Downtown Development Authority is available for viewing on this website and available for public inspection at the office of the City Clerk during regular business hours.
1 Short-term debt means debt or other financial obligation for cash-flow purposes that has a term of not more than one year.
