Title
A resolution authorizing the City of Colorado Springs, by and through its enterprise, the Colorado Springs Municipal Airport, to accept charitable funds from the Pikes Peak Community Foundation, deposited by private foundations and others for the purpose of lessening the City's burden by way of significantly and tangibly developing, promoting and accommodating air commerce, air travel and air transportation at Colorado Springs Airport.
Body
From:
Dan Gallagher, Aviation Director
Summary:
Attached is a resolution to authorize the City of Colorado Springs, by and through its enterprise, the Colorado Springs Municipal Airport, to accept charitable funds from private foundations and others to be deposited into and held by the Pikes Peak Community Foundation, for the purpose of lessening the City's burden by way of significantly and tangibly developing, promoting and accommodating air commerce, air travel and air transportation at Colorado Springs Airport. Additionally, the resolution authorizes the City of Colorado Springs to accept charitable funds from any foundation, organization, person, group or entity for the purpose of lessening the City's burden, as long as there are no unacceptable conditions.
Previous Council Action:
N/A
Background:
The Internal Revenue Service ("IRS") permits tax exempt charitable donations to governmental entities so long as such grants lessen the burdens of the particular government. The City of Colorado Springs Municipal Airport ("Airport") is a governmental function that provides public air transportation. The enterprise is intended to be a self-sustaining governmental-owned business supporting that public purpose and may issue its own revenue bonds. Accordingly, the City is responsible for the Airport and has taken on the burden to ensure it is financially viable and effective for the benefit of community. With the support of charitable foundations the burdens of the City would be lessene...
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