Title
Ordinance No. 15-54 adopting Articles of Amendment to the Articles of Incorporation of The City of Colorado Springs Public Facilities Authority
Body
From:
Kara Skinner, Chief Financial Officer
Summary:
The City of Colorado Springs created The City of Colorado Springs Recreation Authority in 1989 to purchase or otherwise acquire real estate for public purposes. In 2000, the name of the authority was changed to The City of Colorado Springs Public Facilities Authority, and in 2011, the authority's Articles of Incorporation were amended to reflect changes in the membership of its Board of Directors resulting from the voter-approved change in the City's form of government in 2010.
Earlier this year, the Board of Directors of the Public Facilities Authority recognized that the Articles of Incorporation needed further clarification as to the membership of the Authority's Board of Directors, and thus unanimously adopted further amendments that are reflected in the attached Articles of Amendment. In order for the amendment to the Articles of Incorporation to be effective, the amendment must be approved by an affirmative vote of a majority of the members of City Council by ordinance.
Previous Council Action:
In 1988, City Council adopted Ordinance 88-270 directing the creation of The City of Colorado Springs Recreation Facilities Authority. Pursuant to that ordinance, the authority was incorporated in 1989. In 2000, the Articles of Incorporation were amended to change the name of the authority to The City of Colorado Springs Public Facilities Authority. In 2011, City Council passed Ordinance 11-29, authorizing the amendment of the Articles of Incorporation to reflect the changes in the authority's Board of Directors to reflect the change in the form of government.
Background:
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Financial Implications:
N/A
Board/Commission Recommendation:
The Board of Directors of The City of Colorado Springs Public Facilities Au...
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