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(a) In accordance with and through the provisions of this section, the golf enterprise, through its governing body, is authorized to issue bonds or other obligations payable solely from the revenues derived or to be derived from the functions, services, benefits or facilities of such enterprise or from any other available funds of such enterprise. Such bonds or other obligations shall be authorized by ordinance, adopted by the governing body of the golf enterprise in the same manner as other ordinances of the City. Such bonds or other obligations may be issued without voter approval provided that, during the fiscal year of the city preceding the year in which the bonds or other obligations are authorized, the golf enterprise received under ten percent of its annual revenue in grants or, during the current fiscal year of the City, it is reasonably anticipated that such enterprise will receive under ten percent of its revenue in grants. Nothing in this section shall be construed so as to require voter approval where such approval is not otherwise required by the constitution and laws of the state or the Charter of the City.

(b) The terms, conditions, and details of the bonds, or other obligations, and the procedures related thereto shall be set forth in the ordinance authorizing the bonds or other obligations. The bonds or other obligations may be sold at public or private sale in accordance with the provisions of the City Charter. Each bond, note, or other obligation issued under this section shall recite in substance that the bond, note, or other obligation, including the interest thereon, is payable from the revenues and other available funds of the golf enterprise pledged for the payment thereof. Notwithstanding any other provision of law to the contrary, such bonds or other obligations may be issued to mature at such times as are authorized by the City Charter, shall bear interest at such rates, and shall be sold at, above, or below the principal amount thereof, all as shall be determined by the governing body of the golf enterprise. Notwithstanding anything in this section to the contrary, in the case of shortterm notes or other obligations maturing not later than one year after the date of issuance thereof, the governing body of the golf enterprise may authorize enterprise officials to fix principal amounts, maturity dates, interest rates, and purchase prices of any particular issue of such shortterm notes or obligations, subject to such limitations as to maximum term, maximum principal amount outstanding, and maximum net effective interest rates as the governing body of the golf enterprise shall prescribe. Refunding bonds of the golf enterprise shall be issued as provided in C.R.S. tit. 11, art. 5(C.R.S. § 11-56-101 et seq.). The powers provided in this section to issue bonds or other obligations are in addition and supplemental to and not in substitution for the powers conferred by any other law, and the powers provided in this section shall not modify, limit, or affect the powers conferred by any other law either directly or indirectly. Bonds, notes, or other obligations may be issued pursuant to this section without regard to the provisions of any other law. Insofar as the provisions of this section are inconsistent with the provisions of any other law, the provisions of this section shall control with regard to any bonds lawfully issued pursuant to this section.

(c) Any pledge of revenue or other funds of the golf enterprise shall be subject to any limitation on future pledges thereof contained in any ordinance of the governing body of the golf enterprise or of the city authorizing the issuance of any outstanding bonds or other obligations of the golf enterprise or the city payable from the same source. Bonds or other obligations separately issued by the city and the golf enterprise but secured by the same revenues or other funds shall be treated as having the same obligor and as being payable in whole or in part from the same source. (Code 1979, § 29-134)