TC Ord. No. 25-16 Amending Ordinance 25-14 Relating to Financing the Acquisition of Certain Real Property for Town Purposesn
Avon
COLORADO
ORDINANCE NO.25-16
AN ORDINANCE OF THE TOWN COUNCIL OF THE TOWN OF AVON
AMENDING ORDINANCE NO. 25-14 FINALLY ADOPTED AND
APPROVED ON AUGUST 12, 2025, RELATING TO FINANCING THE
ACQUISITION OF CERTAIN REAL PROPERTY FOR TOWN PURPOSES
AND THE SUPPORTING PUBLIC IMPROVEMENTS NEEDED IN
CONNECTION THEREWITH, AND APPROVING THE EXECUTION
AND DELIVERY BY THE TOWN OF A SITE LEASE AGREEMENT, A
LEASE PURCHASE AGREEMENT, AND RELATED DOCUMENTS, AND
DECLARING AN EMERGENCY.
WHEREAS, the Town of Avon, Eagle County, Colorado (the "Town") is a duly organized and
existing home rule municipality of the State of Colorado, created and operating pursuant to Article
XX of the Constitution of the State of Colorado and the home rule charter of the Town (the
"Charter"); and
WHEREAS, pursuant to Chapter XIV of the Charter, the Town is authorized to enter into one or
more leases or lease -purchase agreements for land, buildings, equipment and other property for
governmental or proprietary purposes; and
WHEREAS, the Town is authorized by Article XX, Section 6 of the Colorado Constitution, its
Charter, and part 8 of Article 15 of title 31, Colorado Revised Statutes ("C.R.S."), to enter into
rental or leasehold agreements in order to provide necessary land, buildings, equipment and other
property for governmental or proprietary purposes; and
WHEREAS, the members of the Town Council of the Town (the "Council") have been duly
elected, chosen and qualified; and
WHEREAS, on August 12, 2025, the Council adopted Ordinance No. 25-14 (the "Original
Ordinance") approving the execution and delivery of a Site Lease (the "Site Lease"), a Lease
Purchase Agreement (the "Lease"), and other documents relating thereto in order to finance the
cost of the acquisition of certain real property and the building located thereon for Town purposes
(the "Project"); and
WHEREAS, in order to finance the Project, a Trustee, as defined in the Original Ordinance, would
execute and deliver certain Certificates of Participation (the "Certificates"), the proceeds of which
would be utilized by the Trustee to prepay its obligation to lease certain leased property of the
Town under the Site Lease, subject to certain parameters set forth in the Original Ordinance; and
WHEREAS, the Original Ordinance provided that Certificates would be sold to investors at a
purchase price of not less than 100% of the principal amount of the Certificates; and
WHEREAS, such purchase priced did not account for the Certificates being sold as taxable
certificates, which would necessitate a lesser purchase price to account for the Certificates being
Ord 25-16: AMENDING ORDINANCE 25-14 RELATING TO FINANCING OF 15 SUN RD
08/26/2025
Page 1 of 3
sold to investors for the principal amount of the Certificates, less an underwriter's discount, with
no original issue premium; and
WHEREAS, the Town has determined that Section 5(e) of the Original Ordinance be amended;
and
WHEREAS, pursuant to Section 6.6 of the Charter, because of the urgent need for the financing
of the Project, the Council has determined that an emergency exists and that adoption of this
Ordinance as an emergency measure is necessary for the immediate preservation of the public
peace, health, safety and welfare. This Ordinance, which amends the Original Ordinance, shall be
effective on the same day as the Original Ordinance, which such Original Ordinance was not
approved as an emergency ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
AVON, COLORADO the following:
Section 1. Definitions. Unless otherwise defined herein, all terms used herein shall have the
same meaning as in the Original Ordinance.
Section 2. Amendments.
Section 5(e) — Supplemental Act; Parameters is hereby amended as follows (strike
through indicates language removed, double underline indicates additional language):
(e) the purchase price of the Certificates shall not be less than 440-9T% of the
aggregate principal amount of the Certificates; and
Section 3. Ratification. All action heretofore taken (not inconsistent with the provisions of
this Ordinance) by the Council, the officers of the Town and otherwise taken by the Town directed
toward the Bonds or the amendment of the Original Ordinance, is hereby ratified, approved and
confirmed. Except as amended hereby, the provisions of the Original Ordinance are hereby
ratified, approved and confirmed.
Section 4. Repealer. All bylaws, orders, resolutions and ordinances, or parts thereof,
inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repealer
shall not be construed to revive any such bylaw, order, resolution or ordinance, or part thereof,
heretofore repealed. All rules of the Council, if any, which might prevent the final passage and
adoption of this Ordinance as an emergency measure at this meeting of the Council be, and the
same hereby are, suspended.
Section 5. Severability. If any section, subsection, paragraph, clause or other provision of this
Ordinance for any reason is invalid or unenforceable, the invalidity or unenforceability of such
section, subsection, paragraph, clause or other provision shall not affect any of the remaining
provisions of this Ordinance.
Ord 25-16: AMENDING ORDINANCE 25-14 RELATING TO FINANCING OF 15 SUN RD
08/26/2025
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Section 6. Emergency Declaration. By reason of the Town's need to complete the Project
to provide for the immediate preservation of public health, safety and welfare of its citizens, the
further need to acquire financing to complete the Project with the limited availability of the
property, the Council declares that this Ordinance is necessary for the immediate preservation of
the public peace, health and safety, and that this Ordinance shall be in full force and effect on the
same date as the Original Ordinance.
Section 7. Effective Date and Disposition. After its passage by the approval of five (5)
members of the Council, this Ordinance shall be recorded, published and posted and authenticated
by the signature of the Mayor and the Town Clerk as required by the Town Charter. This
Ordinance shall become effective at the same time as the Original Ordinance.
Section 8. Publication by Posting. The Town Clerk is ordered to publish this Ordinance in
accordance with Chapter 1.16 of the Avon Municipal Code.
INTRODUCED, APPROVED, PASSED AS AN EMERGENCY ORDINANCE, AND
ORDERED PUBLISHED IN FULL on August 26, 2025.
[SEAL]
BY:
4"" 4/
mra N. Underwood, Mayor
APPROVED AS TO FORM:
Nina Williams, Town Attorney
i
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Ord 25-16: AMENDING ORDINANCE 25-14 RELATING TO FINANCING OF 15 SUN RD
08/26/2025
Page 3 of 3
STATE OF COLORADO )
COUNTY OF EAGLE ) SS.
TOWN OF AVON )
I, Miguel Jauregui Casanueva, the Town Clerk of the Town of Avon, Colorado (the
"Town"), do hereby certify:
I, the duly elected, qualified, and acting Town Clerk of the Town of Avon, Colorado (the
"Town"), do hereby certify that:
(1) The foregoing pages are a true, correct and complete copy of an ordinance (the
"Ordinance") that was introduced, approved as an emergency on first reading and ordered
published in full in accordance with the Town Charter (the "Charter") by the Town Council at a
regular meeting thereof held on August 26, 2025.
(2) The Ordinance was duly moved and seconded, and the Ordinance was approved on
first reading as an emergency, at the meeting of August 26, 2025, by an affirmative vote of five
(5) members of Town Council as follows:
Councilmember
Voting "Yes"
Voting -No"
Absent
Abstaining
Tamra Underwood
Rich Carroll
r0
Chico Thuon
✓
Lindsay Hardy
V
Ruth Stanley
Gary Brooks
Kevin Hyatt
✓
(3) The members of the Town Council were present at such meetings and voted on the
passage of such Ordinance as set forth above.
(4) The Ordinance was authenticated by the signature of the Mayor, sealed with the
Town seal, attested by the Town Clerk, and recorded in the minutes of the Town Council.
(5) There are no bylaws, rules or regulations of the Town Council that might prohibit
the adoption of the Ordinance.
(6) Notice of the meeting of August 26, 2025, the form attached hereto as Exhibit A
was posted at the Town Hall, the Avon Recreation Center and the Avon Library not less than 24
hours prior to such meeting in accordance with law, which notice included the title of the ordinance
only and the time, date and place of the public hearing, and notified that the full text of the
ordinance is available for public inspection at Avon Town Hall during normal business hours and
on the Town of Avon official website.
Ord 25-16: AMENDING ORDINANCE 25-14 RELATING TO FINANCING OF 15 SUN RD
08/26/2025
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4h
(7) OnAU41 2025, the Ordinance was published by title in the Vail Daily, a
newspaper of general circulation in the Town, in accordance with the Charter and Chapter 1.16.010
of the Avon Municipal Code. Affidavit of publication is attached hereto as Exhibit B.
WITNESS my hand and the seal of the Town affixed on A 2q", 2025.
[SEAL]
L_
Ord 25-16: AMENDING ORDINANCE 25-14 RELATING TO FINANCING OF 15 SUN RD
08/26/2025
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EXHIBIT A
Avon
C 0 L 0 R A D 0
Notice of Regular Avon Town Council Meeting
August 26, 2025 at 05:00 p.m. MST
HYBRID MEETING Attend In -Person or Virtually
The Avon Town Council meeting will broadcast on High Five
Access Media (Channel 5) and online at www.highfivemedia.orq.
EITHER JOIN IN PERSON:
Avon Town Hall, 100 Mikaela Way, Avon CO 81620
OR JOIN VIRTUALLY VIA PHONE OR ZOOM:
Call 346.248.7799. Enter meeting ID: 818 2918 4823
Please go to the Town of Avon website, www.Avon.org and click
on the Meeting Bar on the top of the Avon home page to find the
link for meeting registration. You can also find the agenda and
meeting packet materials for the Council meeting under
Government > Avon Town Council > Agendas, Packets &
Materials.
Posted by Brenda Torres, Deputy Town Clerk on August 18, 2025 at the Avon Town Hall,
Avon Recreation Center, Avon Public Library, Avon Elementary School and at www,avon.org
Expected print dimensions of advertisement:
Width: 3.96 in., Height: 5.26 in.
Newspaper page size: Width: 10.00 in., Height: 14.00 in.
Publisher may wrap or break notice between pages,
EXHIBIT B
Avo n
NOTICE OF ADOPTION OF EMERGENCY ORDINANCE NO. 25-
16, AMENDING ORDINANCE NO. 25.14 FINALLY ADOPTED
AND APPROVED ON AUGUST 12, 2025, RELATING TO
FINANCING THE ACQUISITION OF CERTAIN REAL PROPERTY
FOR TOWN PURPOSES AND THE SUPPORTING PUBLIC
IMPROVEMENTS NEEDED IN CONNECTION THEREWITH, AND
APPROVING THE EXECUTION AND DELIVERY BY THE TOWN
OF A SITE LEASE AGREEMENT, A LEASE PURCHASE
AGREEMENT, AND RELATED DOCUMENTS, AND DECLARING
AN EMERGENCY.
The Town of Avon hereby provides notice of final adoption of Ordinance 25-16 on August 26, 2025. The full
text of Ordinance 25.16 is available for inspection at the office of the Tam Clerk in the Avon Town Hall during
normal business hours and can be viewed on the Town of Avon's official website, www.avon.oro. Ordinance
25-16 is subject to the penalty provisions set forth in the following Avon Municipal Code sections:
7.04.170 - Penalties. Any person violating any of the provisions of the Development Code shall be subject to the
penalties contained in Chapter 1.09 of this Municipal Code. Any remedies provided for in this Section shall be
cumulative and not exclusive and shall be in addition to any other remedies provided by law. The imposition of any
penalty under this Development Cade shall rat preclude the Town or affected property owner from instituting any
appropriate action or proceeding to require compliance with the provisions of this Development Code.
1.09.030 - Minimum civil penalties.
(a) Any person found responsible for a violation of this Code authorized to be prosecuted as a civil infraction shall pay
a civil fine of not more than two thousand six hundred fifty dollars ($2,650.00) plus costs, damages and expenses,
the amount of the fine and the charging of cosh, damages and expenses to be in the discretion of the Court
except as follows:
(1) Any person found guilty, after trial or settlement, of any provisions of this Code designated as a civil
infraction, when the date of the offense iswithin three hundred sixty-five (365) days of the date of a prior
violation of the Cade, shall be fined not less than tree hundred dollars (E3(10.00), plus any additional
penalties assessed under this Chapter.
(2) Any person found guilty, after trial or settlement, ofany provision of this Code designated as a civil infraction
for a third or subsequent time, when the date of the offense is within three hundred sixty-five (365) days of
the dale of the prior violation of this Code, shall be fined not less than sox hundred dollars ($600.00), plus
any additional penalties assessed under this Chapter.
TOWN OF AVON, COLORADO
By: ?jrft( Oymts Date Posted:0812712025
Brenda Torres, Deputy Town Clerk
Posted at the Avon Town Hall, Avon Recreation Center, and Avon Public Library and published in a
newspaper of general circulation in the Town of Avon in accordance with Avon Municipal Code 1.16.010.
PUBLISHED IN THE VAIL DAILY ON FRIDAY. A UGUST 29. 2025.
ORD. 25-16 EMERGENCY FINAL ORD PASSAGE - Page 2 of 2