Commitments:
The County has agreed to provide funding to Foothills-Gateway
Rehabilitation Center, Inc. (which provides education of mentally
retarded and seriously handicapped persons) as long as funds are
available to be appropriated, payable at $175,000 annually. The
County has paid Foothills-Gateway $1,050,000 since the inception
of the agreement in 1992.
Contingencies:
In November 1992, the voters of Colorado approved
Amendment 1, commonly known as the Taxpayer's Bill of Rights (TABOR),
which adds Section 20 to Article X of the Colorado Constitution.
TABOR contains tax, spending, revenue and debt limitations which
apply to the State of Colorado, all local governments and special
districts as defined by the amendment. County management believes
it is in compliance with the provisions of TABOR. However, TABOR
is complex and subject to interpretation. Many of the provisions
will require judicial interpretation. Accordingly, the possibility
exists that our interpretation of certain TABOR provisions may
subsequently be revised which could result in a potential refund
of revenue unless voters approve retention of such revenue.
The County is currently the defendant in several pending lawsuits. Legal counsel is of the opinion that potential claims against the County resulting from such litigation not covered by insurance do not pose a threat of significant liability to the County.