Denver Revised Municipal Code ch. 39, art. VI — WINTER PARK | Denver Revised Municipal Code (Supp. No. 147, Update 3: codified through Ordinance No. 0852-26, enacted July 13, 2026) — City of Denver

Denver Revised Municipal Code § 39-153 Administration of the Winter Park trust.

Sec. 39-153. - Administration of the Winter Park trust. There is created hereby a trust to be known and titled the "Winter Park Trust for Parks and Recreation" ("trust") having the following described attributes, powers, restrictions, and characteristics, and such others as implied or conferred by law not inconsistent herewith: (a) General purpose and use. The purpose of this trust is to provide funds to the department of parks and recreation ("department") of the City and County of Denver ("city") for the use and benefit of the department with respect to expenditures for parks and recreational purposes that are in addition to, and not in lieu of or in substitution for, annual appropriations customarily made to the department by the mayor and city council for such expenditures. The corpus of the trust, including investment earnings and returns thereon, (the "trust fund") may not be lent, pledged, or hypothecated for any purpose whatsoever, except in ways consistent with the investment policies of the manager of finance as limited by and described in the Charter of the city. (b) Source of assets. The source of the trust funds derives primarily from proceeds payable to the city under the terms and conditions set forth in that certain amended and supplemented agency agreement ("agency agreement") by and between Winter Park Recreational Association, a nonprofit corporation of Colorado ("association"), and the city. Supplemental Agreement No. VII to the agency agreement, located at City Clerk Filing No. 65734-L and approved and authorized by Ordinance No. 798, Series of 2002, which amends and restates the agency agreement in its entirety and which authorizes the execution of a lease and operating agreement and an option agreement which are attached as exhibits to Supplemental Agreement No. VII, identifies certain proceeds payable to the city which will be received as assets of the trust. These trust funds shall be for the use of the department, endowing perpetually the trust and vesting immediately in the trust upon receipt. Other funds or property coming into the trust shall be similarly devoted to the department and restricted in use. (c) Transfer of assets to trust. The city shall transfer to the trust the trust funds as they are received, together with income and profits thereon, if any. Other persons or entities may contribute to or fund the trust, also, with the prior approval of the mayor and city council, with any other sums of money or property that may be donated or transferred to the city or the trust, either pursuant to the settlement of this trust or consistent with the purposes, conditions, and limitations thereof, to be held, nevertheless, solely for the uses and purposes set forth in this trust and none other. (d) Investment and application of trust assets and income. (1) The trust funds, consisting of the corpus of the trust may be commingled with other funds of the city and reinvested and accumulated for the benefit of the department, or partially reinvested and accumulated, all in the discretion and judgment of the manager of finance; provided, however, that trust funds must be segregated from other city funds for accounting purposes and inure only to the benefit of the department for its purposes and exclusive uses as described in this article. (2) The trust funds shall be managed, but not invested which duty shall be that of the manager of finance, by a board of trustees (the "trustees") in accordance with the requirements of this section. After receipt of the trust funds by the city and its deposit by the manager of finance into the trust account established hereby, fund No. 56530 of the fund plan of the city's fiscal code (section 20-18 of the Code), the trustees shall, on or before the last Monday of September of each year, meet to determine whether: (A) The trust funds specified in subsection (b) of this section have been received; (B) The city has met the maintenance-of-effort requirements described in section 39-154 of the Denver Revised Municipal Code; and (C) The proceeds from prior disbursements of the trust have been appropriated to the department for purposes not inconsistent with this article. Upon affirmative findings for (B) and (C) above, the trustees shall, on or before the last Monday of September of each year, initiate journal vouchers, or such other documentation as may be prescribed by the manager of finance, to direct and authorize the transfer of trust funds to the "Winter Park parks and recreation capital fund," Fund No. 30001 of the city's fund plan, or its successor fund (section 20-18 of the Code), in order to meet or partially meet appropriations made from Fund No. 30001 pursuant to the annual budget adopted by the city for exclusively parks and recreation purposes. Funds in the trust from other sources shall also be transferred on or before the last Monday of September of each year to Fund No. 30001. Should the trustees find that, under (A) above, the specified trust funds have not been received, the trustees shall refer forthwith the matter to the city attorney for appropriate action. (e) Good faith duty of trustees. Provided that they act in good faith in carrying out the provisions of the trust, trustees shall not be responsible or accountable for errors in judgment in managing the trust or in making decisions regarding the provisions of this trust. (f) Procedures for conducting and managing trust. The trustees shall act by majority vote. Determinations or findings of the trustees shall be summarized in written minutes of the meeting at which the decision is made. Meetings at which determinations or findings are made shall be open to the public. The minutes shall be kept by the manager of the department and be open for public inspection. (g) Custody of assets. In order to secure and maintain the trust funds, the trustees shall rely upon the custodial and investment services of the manager of finance of the city, who shall serve without fee. (h) Appointment and removal of trustees. The trustees shall consist of three (3) voting members, all of whom shall be appointed from either the public or private sector by the mayor of the city and, upon confirmation by the city council, serve terms of four (4) years. Vacancies shall be filled promptly by the mayor for the unexpired term of the trustee vacating the position. Trustees may succeed themselves in office upon re-appointment. Until vacancies are filled, the trustees may not conduct business. A trustee may be removed from the board by the mayor, for good cause, including but not limited to, a breach of fiduciary duty such as self-dealing, mismanagement or misuse of trust assets, failure to properly account for trust assets, and having interests in conflict with or adverse to the trust. Inability to serve adequately as a trustee shall likewise be grounds for removal. Each trustee must accept the terms and conditions of this trust in order to serve, and by accepting the appointment does thereby agree to the terms and conditions thereof. (i) Gifts irrevocable and trust irrevocable. Proceeds, payments, gifts, and settlements received by the city to the credit of the trust under this section shall be irrevocable. If it is determined by the Internal Revenue Service that the city or the trust is not exempt from the payment of income tax upon its income or gain derived from the trust or that donors to the trust are not entitled to charitable deductions for income tax purposes for contributions (but not annual payments) made thereto in the manner and to the full extent provided by the Internal Revenue Code of 1986, as amended, then such gifts and apportioned earnings thereon, as remain in the trust fund at the time of such determination and before their transfer to the Winter Park parks and recreation capital fund shall be returned by the trustees to the donor thereof, or, should that be impractical, given to a qualified tax exempt charitable organization selected by trustees to carry out best the purposes of this trust. Proceeds and payments shall be received and spent in accordance with this article. This trust shall not terminate, but shall remain and continue irrevocable, and may be amended by ordinance to comply with requirements of the Internal Revenue Code and regulations promulgated thereunder necessary for it to be a tax-exempt trust. (Ord. No. 905-94, § 1, 11-14-94; Ord. No. 797-02, § 1, 9-30-02; Ord. No. 775-07, § 74, 12-26-07)

Denver Revised Municipal Code § 39-154 Budgeting Winter Park trust funds.

Sec. 39-154. - Budgeting Winter Park trust funds. (a) Procedure. The manager of the department of parks and recreation shall, as part of the manager's preparation of the proposed annual capital budget for the department, submit projects and estimated costs for projects suitable to funded from the Winter Park parks and recreation capital fund, Fund No. 30001 of the fund plan. Before submitting the annual budget for the department to the mayor, the manager shall, in accordance with charter section 2.4.3, receive the comments of, and recommendations for amendments to such budget by, the board of parks and recreation. The budget and management office, with the consent of the manager, will make the final assignment of projects to be funded by the Winter Park parks and recreation capital fund. (b) Maintenance of effort. In preparing the list of projects whose cost is to be paid or partially paid from the Winter Park parks and recreation capital fund, consideration may be given to the recommendations and proposals for use of funds available for capital projects from appropriations from other sources, including but not limited to the capital improvement fund (Fund No. 31000) and the state conservation trust fund (Fund No. 35000), so that these sources may also be reviewed in conjunction with the annual budget by the board of parks and recreation; provided, however, that with respect to maintenance-of-effort requirements, the budget and management office shall determine that funds to be appropriated from the Winter Park parks and recreation capital fund will be used in addition to annual appropriations customarily made to the department for capital projects from the capital improvement fund (Fund No. 31000) as measured by an amount equal to the average of appropriations from 1990 to 1994, which was $1,305,140. This represents the five budget years preceding the creation of the Winter Park parks & recreation capital fund. This amount of $1,305,140 will be increased or decreased by the cost of living combined for the years 1995 through the year preceding the year of appropriation as measured by the cumulative Consumer Price Index for the Denver Metropolitan Statistical Area (or the smallest statistical region for which an index is available that includes the City and County of Denver) as prepared by the Bureau of Labor Statistics of the United States Department of Labor. (c) Projects. For fiscal year 2002 and fiscal years thereafter, the first three million dollars ($3,000,000) received from the Winter Park Recreational Association for use in the Winter Park parks and recreation capital fund may be budgeted for any type of park and recreation capital project approved in accordance with this section. For all trust funds thereafter received from sources specified in section 39-153(b) of this Code, said funds will be appropriated and expended for the repair, rehabilitation, or replacement of previously constructed or installed capital assets of the department of parks and recreation. (Ord. No. 905-94, § 1, 11-14-94; Ord. No. 797-02, § 2, 9-30-02)