TC Council Packet 10-26-2004STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON 1
NOTICE IS HEREBY GIVEN THAT A WORK SESSION OF THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO, WILL BE HELD OCTOBER 26 2004, AT 4:00 PM AT THE
AVON MUNICIPAL BUILDING LOCATED AT 400 BENCHMARK ROAD, AVON, COLORADO
FOR THE PURPOSE OF DISCUSSING AND CONSIDERING THE FOLLOWING:
4:00 PM - 4:30 PM 1) Council Committee Updates: - Council members are assigned to
several committees and update their progress.
Discussion about Committee Appointments (Councilor Brown)
4:30 PM - 5:00 PM 2) Projected Development & Water Rights Analysis (Norm Wood) -
Review Projected Future Development Analysis and Projected Water
Right Requirements to Serve Potential Development
5:00 M - 5:20 PM 3) Staff Updates
a. Update on Loading and Delivery Activity on Metcalf Road
(Jeff Layman)
b. Community Development Updates (Tambi Katieb)
c. Wildridge Open House Update (Norm Wood)
d. Business License Update (Patty McKenny)
Consent Agenda Questions
AND SUCH OTHER BUSINESS AS MAY COME BEFORE THE COUNCIL. THIS MEETING IS
OPEN TO THE PUBLIC.
TOWN OF AVON, COLORADO
BY: Patty McKenny, Town Clerk
Estimated times are shown for informational purposes only, subject to change without
notice.
Comments from the public are welcome.
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
OCTOBER 22, 2004:
? Avon Municipal Building, Main Lobby
? Alpine Bank, Main Lobby
? Avon Recreation Center, Main Lobby
? City Market, Main Lobby
Avon Council Meeting. 04.10.26
V
FINANCIAL MATTERS
October 26, 2004
1. YTD Building Revenue Report Actual vs Budget - September 2004
2. Detail-Real Estate Transfer Taxes - September 2004
3. Accomodations Tax Worksheet Actual vs Budget - August 2004
4. Sales Tax Worksheet Actual vs Budget - August 2004
ACCOUNTING PERIOD: 9/04 TOWN OF AVON
REVENUE STATUS REPORT
SELECTION CRITERIA: orgn.fund="10" and revledgr.account in ("52201","52203","52204","54202","54203")
FUND-10 GENERAL FUND
ACCOUNT - - - - - TITLE
52201
BUILDING PERMITS
52203
PLUMBING PERMITS
52204
MECHANICAL PERMITS
TOTAL
LICENSES AND PERMITS
54202
SUBDIVISION REVIEW FEES
54203
DESIGN REVIEW FEES
TOTAL
CHARGES FOR SERVICES
TOTAL GENERAL FUND
PAGE 1
BUDGET
RECEIPTS
RECPERIOD EIVABLES
REVENUE TO DATE
BAL TO B E
YTD/
COLLECTED
BUD
150,000.00
12,000.00
20,613.36
1
898
13
.00
102,563.11
47,436.89
68.38
12,000.00
,
.
11855.19
.00
00
12,575.57
-575.57
104.80
174,000.00
24,366.68
.
.00
12,582.63
127
721
31
-2.63
8
4.86
10
,
.
46,2
78.69
73.40
94,000.00
20,000.00
18,388.77
2
017
50
.00
55,751.38
38'248.62
59
31
114,000.00
,
.
20,406.27
.00
00
21,867.50
-1,867.50
.
109.34
.
77,618.88
36,381.12
68.09
288,000.00
44,772.95
.00
205,340.19
82,659.81
71.30
TOTAL REPORT 288,000.00 44,772.95
.00 205,340.19 82,659.81 71.30
Town of Avon
Real Estate Transfer Tax
Calendar Year 2004
Purchaser Name Property Amount Received
August Balance Forward 1,346,081.73
Kim Georgen Christie Lodge Timeshare 160.00
Holiday Christie Lodge Timeshare 17.52
Holiday Christie Lodge Timeshare 5.98
Title Comp Rockies Christie Lodge Timeshare 70.00
Title Comp Rockies Christie Lodge Timeshare 130.00
Title Comp Rockies Christie Lodge Timeshare 70.00
Title Comp Rockies Christie Lodge Timeshare 170.00
1st American Heritage Falcon Pointe Timeshare 80.00
1 st American Heritage Falcon Pointe Timeshare 10.00
1 st American Heritage Falcon Pointe Timeshare 90.00
Title Comp Rockies Lakeside Terrace 714.90
Daniel & Robyn Ritsch Lot 12 Blk 2 BMBC 19,000.00
Eric Lea & Sara Paulson Beaver Bench Condo A-11 1,050.00
Charles & Vicky Greer Trust Avon Lake Villas 0-2 4,750.00
Title Comp Rockies Mtn. Vista 4-34 12,027.80
Title Comp Rockies Mtn. Vista 4-35 7,178.30
Title Comp Rockies Mtn. Vista 4-36 8,937.90
Title Comp Rockies Mtn. Vista 4-37 4,878.80
Title Comp Rockies Mtn. Vista 4-28 6,388.50
Title Comp Rockies Mtn. Vista 4-29 5,248.70
American National Bank Avon Medical Center 35,000.00
Angela Nilsen & Daryle Bogenrief Barrancas M-39 1,160.00
Laurie Esserman & Paul Nowak Brookside 102 12,580.00
Yoshio & Yumiko Fukui Sunridge A-210 3,980.00
Christine Barton & David Smith Sunridge II N-204 2,940.00
Ben & Jennifer Daly Sunridge II N-202 $2,500.00
Jack & Mary Wolfe Season @ Avon 510 950.00
Martin M Golembiewski Sherwood Meadows I B-1 2,310.00
Kara & Inok Paik Big Sky Townhomes 4 $9,100.00
Stephen R. Elicker Sagehill Townhomes C 4,680.00
Richard & Ann Haydu Canyon Run H-102 9,300.00
James & Janie Garel Canyon Run H-101 9,400.00
Joseph & Deane Raley Canyon Run A-101 9,900.00
Kurt Soukup LLC Lot 70 Mtn. Star $25,000.00
Geoffrey & Jennifer Voss 2479 Old Trail Road A $3,300.00
David A & Julie Ozog 2290 Old Trail Road B 9,700.00
David & Brook Portman Wildcat Ridge Townhomes 7 5,350.00
Nima Patel Lot 105-B Blk 1 Wildridge 7,250.00
Peter & Pamela Warren Lot 16 Blk 3 Wildridge 15,400.00
Patricia & Tom Guetz - Sonja White Lot 53 Blk 2 Wildridge 13,500.00
Total September Revenue 254,278.40
Town of Avon
Real Estate Transfer Tax
Calendar Year 2004
Purchaser Name
Property Amount Received
Total YTD Revenue 1,600,360.13
Total 2004 Budget 1,350,000.00
Variance, Favorable (Unfavorable) $ 250,360.13
TOWN OF AVON
`
ACCOMMODATIONS TAX WORKSHEET
Actual vs. Budget
Actual .Collections
"
-7 7
1999
2000
2001
70MCAk,
2002
Budget
YTD Collections
% of change
Januar
2003
2004
2004
Variance
from 2003
y
February
$ 41,102.99
3
$ 24,753.92
$ 35,913.75 $
33,569.05 $ 33
098
93
$
March
6,985.03
32,158.10
42,137.63
,
.
40
888
10
35,334.04
$ 49,606.71 $
14,272.67
49.87%
April
42,018.24
42,385.82
55,435.56
,
.
46,317.21
56
372
30
49,444.93
52,217.57
2,772.64
12
74%
May
11,609.15
10,166.11
11
12,152.00
,
.
71,438.85
12
536
40
76,262.98
55,303.58
(20,959.40)
.
-22
59%
June
6,117.50
5,712.
6,749.18
,
.
12,755.91
8
424
93
13,617.29
11,836.96
(1,780.33)
.
-7
20%
July
14,958.28
15,610.67
15,630.07
,
.
4,077.14
13
301
20
4,352.46
8,380.80
4,028.34
.
105
56%
August
21,120.57
21,769.19
22,567.70
,
.
15,501.57
435
21
73 1
16,548.36
19,906.06
3,357.70
.
28.41%
September
16,452.89
1
17,093.13
19,873.96
.
.
9,458.30
17,483.54
15
787
15
20,772.28
22,059.52
1,287.24
13.
October
0,300.61
12, 810.60
13,059.89
,
.
13, 041.26 10
596
31
16,853.23
18,552.96
1,699.73
52%
17.52%
November
7,258,18
9,139.51
7,065.21
,
.
9,998.17 9
602
87
11, 311.86
-100.00%
December
7,889.97
10,233.40
7,592.38
,
.
10,582.27 9
999
25
10,251.33
-100.00%
25,606.29
32,309.50
29,964.55
,
.
32,498.49 41
756
98
10,674.48
-100.00
,
.
44,576.75
%
Total
$ 241,419.70
$ 234,142.22
$ 268
141
88 $
-100.00%
,
.
270,131.44 $ 290,390.47
$ 310,000.00
$ 237,864.16 $
4
678
59
°
,
.
8.89
/s
Monthly Collections for August.
$20,000
$18,000 4
$16,000
$14,000
$12,000
$10,000
$ 8,000
$6,000
$4,000
$2,000
1999 2000 2001
2002 2003 2004
Year
TOWN OF AVON
SALES TAX WORKSHEET
Actual vs. Budget
(Includes In-Lieu-of Pymt W/O Garts, Pier One, and Office Depot)
Actuai ~ ;ollections
Budget
YTD Collections
% of change
1999
2000
2001
2002
2003
2004
2004
Variance
from 2003
January
$ 384,939.69
$ 359,721.88
$ 408,217.16
$ 411,790.30
$ 416,475.94
$ 398,954.20
$ 420,006.90
$ 21
052
70
0
85%
February
397,323.16
397,291.59
401,384.50
400,493.88
436,108.60
413,476.12
430,505.15
,
.
17
029
03
.
-128%
March
474,933.06
457,053.94
503,411.30
482,084.42
493,056.54
455,599.51
480,906.90
,
.
25
307
39
-2
46%
April
302,864.19
337,087.43
344,079.71
289,326.67
311,212.23
321,092.50
318,381.70
,
.
(2
710.80)
.
2
30%
May
265,405.35
286,191.36
317,331.11
299,677.89
292,634.62
307,350.97
281,130.42
,
(26
220.55)
.
-3
93%
June
395,755.68
398,869.89
393,695.61
355,084.11
363,268.64
359,597.70
356,204.60
,
(3,393.10)
.
-1.94%
July
395,954.38
415,978.51
434,867.02
399,046.84
337,933.65
340,857.86
405,404.21
64
546.35
19
97%
August
366,648.94
400,447.52
421,012.61
391,457.32
345,842.34
346,707.77
392,889.17
,
46
181.40
.
13
60%
September
364,432.54
375,400.90
356,264.03
335,782.58
329,048.03
334,285.33
-
,
-
.
-100.00%
October
295,541.62
320,796.00
361,688.95
318,052.07
307,335.55
318,224.99
-
-
-100.00%
November
320,335.28
329,170.99
333,024.51
321,486.88
291,050.42
306,179.17
-
-
-100.00%
December
564,813.35
607,777.58
615,165.05
679,811.56
650,822.07
572,295.88
-
-
-100.00%
Total
$ 4,528,947.24
$ 4,685,787.59
$ 4,890,141.56
$ 4,684,094.52
$ 4,574,788.63
$ 4,474,622.00
$ 3,085,429.05
$ 141,792.42
2.97%
Monthly Collections for August
$450,000.00 '
-
$400,000.00
$350,000.00
$300,000.00
$250,000.00 E
_ x
$200,000.00
$150,000.00
$100,000.00
$50,000.00
5-
1999
2000
~'x`t
-fir
" Z'e
s
31
2001 2002 2003 2004
Year
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Jacquie Halburnt
Date: October 21, 2004
Re: Council Committees
Discussion: Michael Brown would like to discuss the reappointment of his council
committees prior to his departure from Council. His committees include
-Channel 5
-WCTB
-Regional Air Council
Page 1 of 1
Patty McKenny
From: RON WOLFE [rcwolfe@vail.net]
Sent: Wednesday, October 20, 2004 8:45 AM
To: Larry Brooks
Cc: Patty McKenny
Subject: OSAC
Larry, attached is my memo to Council and you requesting consideration for reappointment to the OSAC. Perhaps
this should be on the next meeting agenda under committee updates. Buz may want to put this off until the next
council is seated.
Ron
10/21/2004
TO: Honorable Mayor DATE: Oct 20, 2004
Town Council
Town Manager
FROM: Ron Wolfe
SUBJECT: Eagle County Open Space Advisory Committee
My term on the OSAC ends in November and I request that the Town
of Avon favorably consider nominating me another term. I served a
shortened one year term as part of the establishment of a staggered
board; a new term will be for a full three years.
During the past year I have been the Committee Chair and have been
instrumental in establishing the OSAC rules and protocol and in
achieving the committee's.goals. As possible preservation projects
come closer to the Town, I believe that I can reinforce the interests of
Avon and help achieve what the Council and citizens want.
With your nomination the Board of County Commissioners will consider
my reappointment.
COMMUNITY DEVELOPMENT
DEPARTMENT
(970) 328-8730
FAX: (970) 328-7185
Email: comdev@eaglecountyus
www.eaglecountyus
Mr. Larry Brooks, Manager
Town of Avon
P.O. Box 975
Avon, CO 81620
October 14, 2004
Dear Mr. Brooks,
Pursuant to Eagle County Board of County Commissioners Resolution 2003-148, the
term for Ron Wolfe, the Town of Avon's representative on Eagle County's Open Space
Advisory Committee, will expire in November of this year.
Ron currently serves as the Committee Chair, and has been instrumental in helping the
group reach many goals this past year. We have contacted him (copy of letter attached)
and suggested that he contact you with an indication of his intent. The next term for the
Town's representative on the Committee will last three years.
We would ask that a nomination for the Town of Avon's Open Space Advisory
Committee representative be submitted for the Board of County Commissioner's
consideration no later than November 16th, 2004. Thank you for your help in this matter,
and for your continued support of Eagle County's Open Space Program. If you have any
questions please don't hesitate to call me at (970) 328-8751.
Sincerely,
Cliff Simonton
Eagle County Planner
Cc Open space file
Mr. Ron Wolfe
Eagle County Building, 500 Broadway, P.O. Box 179, Eagle, Colorado 81631-0179
COMMUNITY DEVELOPMENT
DEPARTMENT
(970) 328-8730
FAX: (970) 328-7185
Email: comdev@eaglecounty.us
www.eaglecounty.us
EAGLE COUNTY
Mr. Ron Wolfe
P.O. Box 1985
Avon, CO 81620
October 14, 2004
Dear Ron,
According to Eagle County Board of County Commissioners Resolution 2003-148, your
appointment as the Town of Avon's representative on Eagle County's Open Space
Advisory Committee (OSAC) will expire in November of this year.
A full term on the Open Space Advisory Committee is three (3) years. If you desire to
continue, please supply your Town Administrator with a "letter of intent" at your earliest
convenience. The Town will be asked to designate their selection for continued
representation on this committee no later than November 16, 2004. Once received,
nominations will be forwarded to the Board of County Commissioners for their
consideration.
Thank you for your hard work and commitment this past year. If you have any questions
please don't hesitate to call me at (970) 328-8751.
Sincerely,
Cliff Simonton
Eagle County Planner
Cc Open space file
Town of Avon
Eagle County Building, 500 Broadway, P.O. Box 179, Eagle, Colorado 81631-0179
MEMORANDUM
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norman Wood, Town Enginee
Date: October 21, 2004
Re: Projected Development & Water Rights Analysis
SUMMARY: The following information has been developed to evaluate water
right requirements for different potential levels of development as the Town moves
forward in the coming years. This evaluation is an attempt to address the domestic water
consumption in the Town as well as to provide adequate water for landscape irrigation,
lake evaporation, lake operation and maintenance (refilling). We have also tried to
address the concerns or requirements expressed by the Upper Eagle Regional Water
Authority (UERWA) staff in developing this analysis.
These assumptions were used to develop the following Table:
1) System Loss: We have used a 7% system loss rate in the following calculations.
We believe this is slightly high based on the percentages of the Avon system in
the High and Low Pressure Zones in the overall system. The difference is
relatively small and the system loss rate can be expected to increase in the future,
as the system grows older.
(Consumption: 0.069435/Ac-Ft/SFE)
2) Town of Avon available water rights in an average year is based on:
Total Water Rights 448.00 Ac-Ft
Lake Evaporation 42.39 Ac-Ft
Non-Potable Irrigation 19.58 Ac-Ft
Available for Domestic Consumption 386.03 Ac-Ft
3) Potential Development Range - 3114 SFE's to 5167 SFE's
a) Existing Development - July 31, 2004 3,114 SFE's
b) Current Zoning Less Undeveloped Rights
in Existing Development 4,139 SFE's
C) Possible Zoning Revisions of Existing Developed
and Undeveloped Properties 4,513 SFE's
d) Maximum Allowable Development Under
Current Zoning 4,793 SFE's
e) Maximum Development to Current Zoning Plus
Potential Rezoning Opportunities 5,167 SFE's
l:AEngineering\Water\Water Rights\Dev-Water Rights summary-Memo-2 Doc
4) Nottingham Lake Operation & Maintenance (Refilling): Les Botham, the Town's
Water Engineer has recommended that at least 40 Ac-Ft be available for refilling
the lake in the event it is drawn down for maintenance or some other purpose.
The 40 Ac-Ft would allow the lake to be refilled completely over a three-year
period under normal water right related conditions. Les's recommendation and
supporting Table and Graph are attached. Water Rights not required for Domestic
Consumption, Non-Potable Irrigation or Lake Evaporation will be available to the
Town of Avon for refilling Nottingham Lake on an emergency basis.
TABLE 1
Demand Analysis for Projected Development
1 2 3 4 5
Projected Water
Development Required
SFE's Ac-Ft
3114 216.22
4139 287.39
4513 313.36
4793 332.80
5167 358.77
Water
Available
Ac-Ft
386.03
386.03
386.03
386.03
386.03
Supply
per Contingency
Demand
(3/2) (3-2)
% Ac-Ft
179 169.81
134 98.64
123 72.67
116 53.23
108 27.26
CONCLUSIONS:
The 448 Ac-Ft of consumptive use water rights currently owned by the Town is sufficient
to meet, on an average basis, the basic water requirements of the Town. It is not
sufficient to provide the recommended 40 Ac-Ft for refilling Nottingham Lake at the
highest potential level of development and is somewhat shy of the desired cushion for the
two highest potential levels of development.
We believe this provides the basis for an amendment to the current Amended and
Restated Water Lease between the Town and UERWA with these general provisions:
A. The Town will Lease the entire currently owned 448 Ac-Ft of consumptive use
water rights to UERWA;
1:1rigineering\Water\Water Rights\Dev-Water Rights Summary-Memo-2. Doc 2
B. UERWA will agree that the 448 Ac-Ft of consumptive use water rights is
adequate to provide water service to all development within the Town's
Augmentation Plan Area up to 5167 SFE's;
C. UERWA will allow the Town to use any of the water rights not required for the
then current level of domestic service plus lake evaporation and non-potable
irrigation as noted above (See Column 5 in Table 1);
TOWN MANAGER COMMENTS:
L\Engineering\Water\Watcr Rights\Dev-Water Rights Summary-Memo-2. Doc 3
Lake Recommendation
From: Les Botham [botham@lrcwe.com]
Sent: Thursday, September 23, 2004 1:27 PM
To: Norman Wood
Cc: Mary L. Presecan EIT; Gary Greer
subject: Recommendation on how much water to "reserve for the operation
of Nottingham Lake"
Norm:
Attached are two pdf attachments that summarize our analysis and provide our
recommendation for how much of the 448 acre feet of fully consumable
augmentation credits Avon should reserve for "operation of Nottingham Lake."
They can also be used to evaluate other scenarios that you may wish to
inquire about.
our analysis consists of computing how many years it would take to fill
Nottingham Lake (from empty) given the amount of water reserved, and the
amount of water that could be stored in priority under the Benchmark Lake
storage water right.
Based on our analysis, we recommend that the Town of Avon reserve 40 acre
feet for operation of the lake. with this amount, the reservoir could
completely fill to 125 acre feet in 3.1 years without any contribution from
the storage water right. If 20, 40, or 60 acre feet could be stored in
priority under the storage right, the time to fill would be reduced to 2.6,
2.1, and 1.6 years respectively, our analysis includes a number of
important assumptions, including no seepage out of the reservoir. All of
the assumptions are spelled out in the Notes and Assumptions section at the
bottom of the Table. The table and chart can be used to estimate the
filling times for other combinations of reserved water and storage in
priority.
Something else to consider is whether the lake would have to fill completely
to be acceptable aesthetically. It may be that a less-than-full lake would
be acceptable in an emergency. For instance, if the Town was to determine
that a reservoir filled to 80 acre feet would be acceptable, the filling
times at the 40 acre foot reservation level would be 2.0, 1.5. 1.0, and 0.5
years; these correspond to 0, 20, 40, and 60 acre feet contributions from
the storage water right.
I hope this information is useful in your decision on how to proceed with
the Authority. I am available to talk with you and Gary Greer, if and when
you think it appropriate.
Sincerely,
Leslie H. Botham, Principal
Leonard Rice Engineers, Inc.
2000 Clay Street, suite 300
Denver, CO 80211-5119
Phone- (303) 455-9589
mailto:Botham@LRCWE.com
Fax- (303)455-0115
Cell- (303) 594-4821
Page 1
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Town of Avon- Job 269AMD05 Preliminary September 23, 2004
Volume of Water
Years to Fill Nottingham Reservoir If No Seepage Occurs",b,c,d,e
Reserved for
Considering the
Range of Volumes Reserved for Its Operationf
Operation of the
and
C
id
i
R
f
ons
er
ng a
ange of Volumes that Could be Diverted in Priority During the Filling Period
Reservoir
,
Acre Feet/Year
Volume of
Water That Can Be Diverted in Pr
iority Under the Storage Water Right (W-3582) During the Filling
-
Time', Acre Feet
0
10
20
30 40'
50 60, 70, 80 90
100
110
120
125
1
125:
1115~~
105
95 5
75' 65,
55 45' 35
25
15
5
0
2
63
58
53
48 43,
38
3311 28 231 18:
13
8
3
0
3
42
38
35',
32, - 28
25 22 18 15 12
8
5
2
0
4
31
29
26
24 21
-
19
16 141 11 9
6
4
1
-0
5
25
23
21
19 17
15 11! 11 - 9 - 7.
-5
3
1
-0
10
13
12
11
10 9
81 7 6 5 3.5
2.5
1.5
0.5
0
15
8
8
7
-
6 57r
5.0 4.3 3.7 3.0 2.3
1.7
1.0
0
3
0
20
6.3
5.8
5.3
i
4.8 4.31
-
3.81- 3.3II 2.8 2.3 1.8.
1.3
0.8
.
0
3
0
30
4.2
_
.
3.8
3.5
_
3.2 2.81
2.5
2 1.8 1.5 1.2
0.8
0.5
.
0.2
0
40
.1
3
2.9
r
2.6
2.4 2 1
-
- 1
.4 1.1 0.91
1.9'_ 1.S I 1.4
0.6
0.4
0.1
0
50
60
2.5
2.1
2.3:
1
9
2.1
1
8 !
1.9' 1.7i
1
1
6 1
4
1.5 1.1
J 0.9 0.7
'
0.5
0.3
0.1
0
0
.8
-
.
1.6
.
1 5
.
.
~
1.4 1.2.
-
_
0.6
,
_0.9I 00.9.8 0.8
0.6 0.5:
0.4
.4 .4
0.3
.2
0.1
0
1 1
0
0
80
1.6
1.4
1.31!
_
I
061 0.4:!
0.3
0.2
0.1
0
90
1.4
1.3
'
1.21:
1.1 0.9_
-
0.8
0.5i - 0
0.7 0.61
$
0.3
0.2
0
1
0
99.83
1.3
1.2
1.11
1.01
0.9
-
0.5' 4'-
0.8 0.
0.6
0.4
- -
0.3
0.2:
.
0.1
0
0
Notes and Assumptions: Bolded values indicate data presented on the attached Chart.
The volume of reservoir is assumed to be 125 acre feet. 3.1 = Example given on the Chart.
e Reservoir seepage is not considered in this analysis. Including it would increase the time required to fill the reservoir over the values shown on this table.
c This analysis does not consider any restriction in rate of flow due to the capacity of the Nottingham Ditch or any other facility.
Evaporation: As the reservoir fills, all of its evaporation will be augmented by the 52.40 acre feet of fully consumable credits already committed to the Authority. Avon
therefore compensates for evaporation by storing a portion of the augmenting credits in amounts equal to the evaporation. Therefore, the "reserved" and "in-priority" water
fills the reservoir with no additional charge for evaporation.
Pumping for Irrigation: Water pumped out of the lake for irrigation is supplied by, and should be accounted under, Avon's direct flow water right "Avon Metropolitan Municipal
e!,! Water System," which is also fully augmented by water already committed to the Authority. When Avon pumps from the lake for for irrigation, the water is not charged
against storage.
f The range of possible "reservations" is from 0 to 99.83 acre feet (448 available - 348.17 already committed to the Authority).
9 The range considered in this table is four 0 to 125 acre feet, the size of the reservoir.
-rui thratC! ~tVfnr" h it ion cif "to rF
a^~~
Leonaro trice Engineers, Inc. ( Printed 9/23/2004 ) File: RefillNottinghamResxls, Tab: Table
6
MEMORANDUM
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Jeff Layman, Chief of Police
Date: October 21, 2004
Re: Loading and Delivery Activity on Metcalf Road
Summary:
Some concern has been expressed periodically regarding the loading and delivery
activities along Metcalf Road. That concern has typically centered on the inconvenience
imposed on other drivers who must stop to avoid trucks turning, backing or parking on or
near the street. Another obvious concern is the safety of all motorists in the area.
The Avon Police Department has not received any complaints about this activity in the
past six months from the general public. A couple of Avon Town Council members,
however, have noted concerns.
In response to these periodic complaints, the Avon Town Council has considered special
legislation to regulate loading and delivery in the area. The Avon Police Department has
surveyed businesses in the area to try to understand the scope of the problem. Through
these surveys, we had determined that there were fewer than ten trucks a week that
service these businesses. The last of these surveys was conducted approximately two
years ago.
It should be noted that many of the buildings in the area were not designed in such a way
to accept deliveries for the trucks that provide service. Although some loading docks are
present, they are so close to Metcalf that the street must be used as a backing corridor. At
least one dock cannot be consistently used as designed because people who work in the
building park in the driveway. There does not seem to be an easy resolution.
As you know, we have directed our officers to strictly enforce ordinances relating to
trucks blocking traffic on Metcalf.
Previous Council Action:
Once previous councils have heard these survey results, they have elected not to enact
any special legislation, citing the belief that the problem does not warrant that level of
effort. Additionally, the Model Traffic Code provides us with all the legislation we need
to enforce traffic regulations on Metcalf Road.
Discussion:
Our purpose in bringing this to your attention is to discuss a range of alternatives that
may be useful in resolving this issue and what effort council members would like to see
expended. Each of the alternatives may have its own set of issues.
The first step in this process is to determine whether the problem is of enough
significance to devote the time and effort needed to resolve it. If so, there are several
approaches that could be used.
Strict Enforcement: The police department could continue to ticket all drivers found to
be violating town ordinances. The police have to be made aware
of violations and/or potential violations at the time they were
occurring. This might require posting a police officer in that area
continually. Currently, there is no budget for this option. Strict
enforcement may alienate the business community and result in
higher freight charges for them and their customers.
2. Problem Solving: A process of problem solving could be initiated involving all of the
various stakeholders. A series of meetings attended by merchants,
vendors, transport companies, Wildridge citizens, Avon's Public
Works and Community Development departments and other
interested persons would be organized to investigate the scope of
the problem and to develop some consensus on what the solution
ought to be. The Colorado Motor Carriers Association has
expressed some interest in assisting in this process. This
alternative is most time and manpower intensive.
3. Survey: If the council decides that the issue is not of significant weight to
initiate a full problem solving effort, the Town could conduct an
enhanced survey to more fully understand the loading and delivery
dynamics. The results of the survey could be used to notify
stakeholders of the problem, alert them to increased enforcement
and ask them to identify solutions they may see.
4. "Do Nothing": The council may decide that the issue is not of enough significance
to address at all. In that case, the police department will continue
to monitor the situation through routine patrols and the collection
of complaints.
Recommendation: My suggestion is that we try number three, above. Conducting a
more comprehensive survey than we have before would give us
better information from which to work. We could then develop
another, currently unknown alternative, or initiate another one of
the other above alternative.
Town Manager Comments:
Memo
To: Honorable Mayor and Town Council
AVON
C O L O R A D O
Titiu: Larry Brooks, Town Manager
From: Tambi Katieb, Community Development Dire(
Die: October 20, 2004
Re: Community Development Update
Community Development will be providing you all with a brief update of several items at your
work session, including:
¦ Comprehensive Plan update
¦ Planning and Zoning Commission Meeting for November 2, 2004 Cancelled
¦ Building Community meeting for last quarter of 2004: November 16"', 2004
X11
Community Development Update to Council
October 26, 2004 Work session
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norm Wood, Town Engineer
Anne Martens, Assistant Tow Engineer
Date: October 21, 2004
Re: Wildridge Public Open House - Traffic Calming and Pedestrian Circulation and Wildridge
Park (Tract D) Improvements
Summary: The first in the series of the Wildridge Public Open Houses, discussing the Wildridge
Traffic Calming and Pedestrian Circulation and the Wildridge Park (Tract D) Capital Improvements
Projects was held on Thursday, October 14, 2004 from 3 pm to 7 pm. Approximately thirty-five (35)
people attended the open house and provided a number of comments and suggestions. We are
summarizing the input and will present the comments and preliminary implementation plans at the next
public meeting which is scheduled for November 18, 2004 at the Wildridge Fire Station.
Town Manager Comments:
V-
CADocuments and Settings\nwood\Local Settings\Temporary Internet Fi1es\0LK2\Pub1ic Meeting Summary 101404.doc
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Patty McKenny
Date: October 20, 2004
Re: New Business License List for Avon
Summary: A request has been made to include a list of new businesses in Avon in your packet, so below
are the new businesses and closed businesses since September.
New Businesses
- - Home
Name of Business Street Address Type of Business Open Date Office
The Hidden Jewel Chapel Square Service - jewelry repair September No
Taqueria No Se Hagan Bolos 0091 W. Beaver Creek Blvd. Restaurant - replaced the Little September No
Bean Restaurant
Pylman & Associates, Inc. 37347 U.S. Hwy 6 / Professional - Land Planning October
Brookside Bldg.
Santa's Collectibles, Inc. 1060 W. Beaver Creek Blvd. Retail - October
Closed Businesses
Name Date Terminated Lic # Reason
Panda City 9/21/04 2001-146 Closed business
TSE TV & Stereo & Applicance 5/1/04 89-97 Closed business
Town Manager Comments:
No
No
A
TOWN OF AVON
REGULAR COUNCIL MEETING AGENDA
OCTOBER 26, 2004 - 5:30 PM
MEETING TO BE HELD AT AVON MUNICIPAL BUILDLING, 400 BENCHMARK ROAD, AVON, CO
1. Call to Order/ Roll Call
2. Citizen Input
a. Fall Fun Night Activities - Tom Schneider
b. PUBLIC HEARING on 2005 Town of Avon Budget & Town of Avon Capital Projects
Budget (Scott Wright)
3. Ordinances
Second Reading & Public Hearing
a. Ordinance No. 04-16, Series of 2004, Second Reading, An Ordinance Amending
Section 2.08.040, Avon Municipal Code, Relating to the Jurisdiction of the Municipal
Court (John Dunn) - Legislation addressing a decision of the Colorado Supreme
Court made earlier this year regarding municipal court and the appropriate venues
for zoning appeals.
Second Reading & Public Hearing
b. Ordinance No. 04-17, Series of 2004, Second Reading, An Ordinance Approving
The Third Amendment (The "Third Amendment") To The Annexation And
Development Agreement For The Village (At Avon) Dated As Of October 13, 1998,
And Recorded On November 25, 1998, At Reception No. 677743, As Amended By
The First Amendment To Annexation And Development Agreement Dated As Of
November 13, 2001, And Recorded On December 12, 2001, At Reception
No. 779049, And The Second Amendment To Annexation And Development
Agreement Dated As Of May 27, 2003, And Recorded On July 30, 2003, At
Reception No. 842248 (As So Amended, The "Development Agreement"); And
Authorizing And Instructing The Mayor Of The Town To Sign The Third Amendment
On Behalf Of The Town. (John Dunn)
First Reading
c. Ordinance No. 04-18, Series Of 2004, First Reading, An Ordinance Authorizing The
Issuance Of Town Of Avon, Colorado, General Obligation Refunding Bonds, Series
2004 And Related Supplemental "B" Interest Coupons; Providing The Form, Terms
And Conditions Of The Bonds And The Supplemental "B" Interest Coupons, The
Manner And Terms Of Issuance, The Manner Of Execution, The Method Of Payment
And The Security Therefore; Providing Certain Covenants And Other Details And
Making Other Provisions Concerning The Bonds; Ratifying Action Previously Taken
And Appertaining Thereto; And Repealing All Ordinances In Conflict Herewith
(Scott Wright) A refunding of the Series of 1997 General Obligation Bonds that were
issued to finance the construction of the roundabouts to potentially save
approximately $20K per year in debt service payments.
First Reading
d. Ordinance No. 04-19, Series of 2004, An Ordinance Amending Title 15, Municipal
Code of the Town of Avon, as it Relates to Outdoor Lighting Standards (Tambi
Katieb) - Council Identified the need for increased outdoor lighting regulations at
earlier meetings, and this proposed ordinance will address the issues of lighting
because of the significant growth and building activity the Town has and continues to
experience.
Avon Council Meeting. 04.10.26
TOWN OF AVON
REGULAR COUNCIL MEETING AGENDA
OCTOBER 26, 2004 - 5:30 PM
Page 2
4. Resolutions
5. New Business
6. Other Business
7. Unfinished Business
8. Town Manager Report
9. Town Attorney Report
10. Mayor Report
11. Consent Agenda
a. Approval of the October 12, 2004 Regular Council Meeting Minutes
b. Colorado River Water Conservation District - Application for Eagle River Water
Supply Contract (Norm Wood) - application for a Conventional Full Term (40 + 35
year renewal) Eagle River Water Contract for 20 ac-ft with an up-front payment
c. Resolution No. 04-39, Approving the Final Plat, A Resubdivision of Tract A, Lots
1,2,3,4,5 and Part of Lot 6, McGrady Acres, and Part of Lots 1 and 2, Nottingham
Cottages PUD and Part of (Corrected) Final Plat - Condominium Map Sun River
Condominiums, A Parcel of Land in Sec. 7, TSS, R81W, 6th P.M., Town of Avon,
Eagle County, Colorado (Post Blvd. and Nottingham Ranch Road) (Norm Wood) A
submittal to resubdivide the Public Right-of-Way for Post Blvd and Nottingham
Ranch Rd.
12. Adjournment
Avon Council Meeting. 04.10.26
Memo
October 21, 2004
To: Honorable Mayor & Town Council
Thru: Larry Brooks/Town Manager
From: Fraidy Aber
Cc: Meryl Jacobs
RE: Fall Fun Night Festivities
Summary
Fall Fun Night is an annual turnkey event in Nottingham Park. It occurs on October 31
from 4 - 8 p.m. and is a non-scary alternative for Halloween activities for young children.
The event is run through local churches, the lead organization is the Calvary Church, with
Pastor Tommy Schneider, who has done a tremendous job bringing the event together.
The program is FREE and is open to everyone. A large heated tent is set up on the field
and there are games, music, and treats for all.
This year, the tent will be set up on Friday, October 29t". The church is going to use it for
a service on Sunday morning, this is something different this year that the church wanted
to do since the event is on a Sunday. The promotion for the event will not be connected
to the church service; the two will be promoted separately.
Fall Fun night is a tremendous community service program; it has gained quite a
following. Hundreds of children come out every year for the festivities! The program
has great support from the community to make it possible!
Town Manager Comments:
kF
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Jacquie Halbumt
Date: October 21, 2004
Re: Budget Public Hearing
Summary: Pursuant to Section 12.6 of the Charter, a public hearing on the proposed
budget and proposed capital program shall be held before its final adoption.
We are scheduled to adopt the 2005 budget via resolution at the November 9, 2004 meeting
and have, therefore, scheduled the public hearing for October 26, 2004.
Town Manager Comments:
MEMORANDUM
TO: TOWN COUNCIL
FROM: TOWN ATTORNEY
RE: ORDINANCE DEFINING JURISDICTION OF THE
MUNICIPAL COURT
DATE: October 4, 2004
On your agenda is an ordinance limiting the jurisdiction of the municipal court so
that it does not include any claims against the Town.
This ordinance is adopted in response to a decision of the Colorado Supreme Court
earlier this year, Town of Frisco v. Baum, 90 P.3 )d 845 (Colo. 2004). In that case, the court held
that, under the language of the Frisco Town Charter, the exclusive jurisdiction of any claims
against the Town of Frisco is vested in the Frisco Municipal Court. The court upheld a decision of
Judge Ruckriegle, dismissing a Rule 106 appeal of a zoning decision of the Frisco Town Council
which had been filed in Summit County District Court.
That decision has been under extensive discussion by municipal attorneys, at their
meetings in Steamboat Springs in August and Crested Butte in September. The consensus of the
municipal attorneys is that the decision is not in the best interest of the municipalities or the public
and that some action should be taken to avoid the result of the decision. The thinking of the
municipal attorneys is that municipal court is not an appropriate venue for zoning cases and that,
because there is an appeal from decisions of the municipal court to the district court, the effect is to
add an unnecessary step to the process. Some municipalities are contemplating a charter
amendment to remove the language of charters which vest "exclusive original jurisdiction" in the
municipal court, as does the Frisco charter. The Town of Avon has such language in its charter,
although that language is qualified by the language, "as may be conferred by law."
It is my opinion that the qualifying language permits the council, by ordinance, to
avoid the result of the Baum decision. Last week, in a conference call with the Vail, Breckenridge
and Minturn attorneys, whose charters are nearly identical as to the jurisdiction of the municipal
court, a consensus was reached to the same effect, and I expect that those three municipalities have
adopted or will adopt similar ordinances. The issue has also been reviewed with Judge Allen, who
agrees with the action being taken and who in particular feels that it would be a blatant conflict of
interest for the municipal judge to hear cases against the municipality.
Depending on how this issue plays out over the next two years, the council may
want to consider a charter amendment at the next regular municipal election. At this time, I do not
think that step is necessary.
TOWN OF AVON, COLORADO
ORDINANCE NO. 04-16
SERIES 2004
AN ORDINANCE AMENDING SECTION 2.08.040, AVON
MUNICIPAL CODE, RELATING TO THE JURISDICTION OF
THE MUNICIPAL COURT
WHEREAS, Section 10.2, Town of Avon Home Rule Charter, provides
that there shall be a municipal court vested with exclusive original jurisdiction of
all causes arising under the ordinances of the Town as may be conferred by law;
and
WHEREAS, this Ordinance is adopted in implementation of said Section
10.2 to limit the jurisdiction of the municipal court conferred by the laws and
ordinances of the Town;
BE IT ORDAINED by the Town Council of the Town of Avon, Colorado, as
follows:
Section 1. Amendment. Section 2.08.040 of Chapter 2.08, Title 2, Avon
Municipal Code, is amended by designating it subsection (a) and by adding a subsection
(b) to provide as follows:
(b) The Municipal Court shall not have jurisdiction over any civil action against
the Town, including any claim brought pursuant to Rule 106, Colorado Rules of Civil
Procedure.
INTRODUCED, READ, APPROVED, AND ORDERED POSTED this 12th day
of October, 2004 and a public hearing shall be held on this Ordinance on the 26th day of
October, 2004 at 5:30 p.m. in the Council Chambers of the Avon Municipal Building,
Avon, Colorado. -
Albert D. Reynolds, Ma or
ATTEST:
2'-? m c- ?
Pa Kenny own Clerk
READ AND APPROVED ON SECOND READING AND ORDERED POSTED
the 26th day of October, 2004.
Albert D. Reynolds, Mayor
ATTEST:
Patty McKenny, Town Clerk
APPROVED AS TO FORM:
John W. Dunn, Town Attorney
Ordinance No. 04-16 Muni Court
Page 2 of 2
MEMORANDUM
FROM: TOWN ATTORNEY
TO: TOWN COUNCIL
SUBJECT: THE VILLAGE (AT AVON)
DATE: October 7, 2004
Included on the October 12 agenda is an ordinance approving a Third Amendment
to Annexation Agreement. As you know, the amendment, which is attached as an exhibit to the
ordinance, will increase charges to The Village for police services from what was a nominal
amount to approximately $200,000, effective July 1, 2004.
Negotiation of the amendment was a two-step process over nearly a year. The first
step was the acknowledgement by Traer Creek that the Annexation and Development entered into
in 1998 was flawed as to the calculation of the cost of police services. The second step was the
agreement to a new formula which reflects the original intent of the parties that The Village pay for
the actual cost of police services provided to it. For the most part, that was a smooth process of
collaboration between Scott Wright and Dean Johnson, Traer Creek's consultant.
You will note that there is no Exhibit "A" to the amendment. There is a reference in
the document to an Exhibit "A," but the reference is to Exhibit "A" of the original Annexation and
Development Agreement. Munsey Ayers and I have agreed that, the next time the agreement is
amended, it will be restated in its entirety so that there is a single agreement governing the
relationship between the Town and The Village.
JWD:ipse
TOWN OF AVON, COLORADO
ORDINANCE NO. 04-17
SERIES OF 2004
AN ORDINANCE APPROVING THE THIRD AMENDMENT (THE "THIRD
AMENDMENT") TO THE ANNEXATION AND DEVELOPMENT AGREEMENT FOR
THE VILLAGE (AT AVON) DATED AS OF OCTOBER 13, 1998, AND RECORDED ON
NOVEMBER 25, 1998, AT RECEPTION NO. 677743, AS AMENDED BY THE FIRST
AMENDMENT TO ANNEXATION AND DEVELOPMENT AGREEMENT DATED AS
OF NOVEMBER 13, 2001, AND RECORDED ON DECEMBER 12, 2001, AT
RECEPTION NO. 779049, AND THE SECOND AMENDMENT TO ANNEXATION AND
DEVELOPMENT AGREEMENT DATED AS OF MAY 27, 2003, AND RECORDED ON
JULY 30, 2003, AT RECEPTION NO. 842248 (AS SO AMENDED, THE
"DEVELOPMENT AGREEMENT"); AND AUTHORIZING AND INSTRUCTING THE
MAYOR OF THE TOWN TO SIGN THE THIRD AMENDMENT ON BEHALF OF THE
TOWN.
WHEREAS, the Town of Avon (the "Town") and Traer Creek Metropolitan District, a
quasi-municipal corporation and political subdivision of the State of Colorado (the "District"),
and Traer Creek LLC, a Colorado limited liability company, EMD Limited Liability Company, a
Colorado limited liability company (collectively, the "Owner), have negotiated the terms and
conditions of the Third Amendment, which is attached hereto as Exhibit "A" and incorporated
herein; and
WHEREAS, the Town gave proper and timely posted notice of the dates and times of the
meetings at which the Town Council considered the Third Amendment; and
WHEREAS, the proposed full text of this Ordinance was duly published by posting in the
office of the Town Clerk and in three (3) additional public places within the Town, and said
publication also set forth the date and time of the public hearing at which the Town Council
considered the Third Amendment; and
WHEREAS, approval of the Third Amendment is in the best interests of the public
health, safety and general welfare of the people of the Town; and
WHEREAS, the Town Council held a public hearing concerning the Third Amendment,
and by this Ordinance sets forth its findings and conclusions.
THE TOWN COUNCIL MAKES THE FOLLOWING FINDINGS AND
CONCLUSIONS:
1. The Third Amendment complies with all applicable laws and regulations of the
State of Colorado and the Town, including, without limitation, Article 68 of
Title 24, C.R.S.
2. All notices required for the public hearing at which the Town Council considered
the Third Amendment were properly and timely published, posted or mailed in
accordance with all applicable laws and regulations of the State of Colorado and
the Town.
3. The public hearing held on the Third Amendment was conducted in accordance
with all applicable laws and regulations of the State of Colorado and the Town.
4. The Town has authority to enter into the Third Amendment pursuant to
Sections 24-68-104(2) and 31-15-101, C.R.S., and pursuant to Section 17.14.100
of the Avon Municipal Code.
5. Pursuant to Section 24-68-103(1), C.R.S., approval of the Third Amendment will
not restrict, impair, enlarge, or otherwise modify either the term or the scope of
the vested property rights associated with the Development Agreement.
6. The Town's approval of and entering into the Third Amendment is in the best
interests of the public health, safety and general welfare of the people of the
Town.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO,
A. The Third Amendment is hereby approved, and the Town shall enter into
it and perform its obligations. _
B. The Mayor of the Town is hereby directed to sign the Third Amendment
on behalf of the Town.
C. Within fourteen (14) days after passage on Second Reading of this
Ordinance, the Town Clerk is hereby authorized and directed to publish
the full text of this Ordinance in a newspaper of general circulation within
the Town.
The effective date of this Ordinance shall be seven (7) days after publication of the notice
described in Section C above.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
PUBLISHED this 12th day of October, 2004, and a public hearing on this Ordinance shall be
held at the regular meeting of the Town Council of the Town of Avon, Colorado, on the 26th day
of October, 2004, at 5:30 p.m. in the Avon Municipal Complex, 400 Benchmark Road, Avon,
Colorado.
t
Town of Avon, Colorado
Town Council
,l
Albert D. Reynolds, Ma or
ATTEST:
?c
4Pattyc envy, T Clerk
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED
POSTED THISDAY OF , 2004.
Town of Avon, Colorado
Town Council
Albert D. Reynolds, Mayor
ATTEST:
Patty McKenny, Town Clerk
APPROVED AS TO FORM:
John W. Dunn, Town Attorney
EXHIBIT "A'
THIRD AMENDMENT
TO ANNEXATION AND DEVELOPMENT AGREEMENT
This THIRD AMENDMENT TO ANNEXATION AND DEVELOPMENT
AGREEMENT (this "Third Amendment") is made as of , 2004, by and
between TRAER CREEK LLC, a Colorado limited liability company ("Traer"), EMD
LIMITED LIABILITY COMPANY, a Colorado limited liability company ("EMD"), and the
TOWN OF AVON, a municipal corporation of the State of Colorado (the "Town").
RECITALS
A. Traer and EMD (collectively, "Owner") and the Town have previously executed
that certain First Amendment to Annexation and Development Agreement dated as of November
13, 2001, and recorded in the Eagle County, Colorado, real property records at Reception
No. 779049 on December 10, 2001 (the "First Amendment"), and that certain Second
Amendment to Annexation and Development Agreement dated as of May 27, 2003 (the "Second
Amendment"), which instruments amended that certain Annexation and Development
Agreement dated as of October 13, 1998, and recorded in the Eagle County, Colorado, real
property records at Reception No. 677743 on November 25, 1998 (the "Original Agreement").
The Original Agreement, as so amended, is referred to in this Third Amendment as the
"Agreement."
B. The Agreement pertains to certain real property generally known as The Village
(at Avon), and more particularly described in Exhibit A attached to the Agreement (the
"Property").
C. Section 1.4 of the Agreement provides, inter alia, that amendments to the
Agreement must be effected in a writing signed by the Town and Owner. Section 1.4 of the
Agreement further provides that the term "Owner" for purposes of amending the Agreement
means "only the signatories to this Agreement constituting Owner and those parties, if any, to
whom such signatories have specifically granted, in writing, the power to enter into such
amendment." As more particularly set forth in Recital B of the First Amendment, EMD (with
respect to Planning Area M) and Traer (with respect to the remainder of the Property) constitute
Owner for purposes of amending the Agreement.
D. Subsequent to execution of the Agreement, portions of the Property have been
subdivided as more particularly described in the Final Plat, The Village (at Avon) Filing 1,
recorded in the Eagle County, Colorado, real property records on May 8, 2002, at Reception
No. 795007 ("Filing I"), the Final Plat, The Village (at Avon) Filing 2, recorded in the Eagle
County, Colorado, real property records on May 29, 2002, at Reception No. 796831 ("Filing 2"),
and the Final Plat The Village (at Avon) Filing 3, recorded in the Eagle County, Colorado, real
property records on June 24, 2004, at Reception No. 882176 ("Filing 3"). Additionally, certain
portions of the Property have been conveyed to other entities and individuals so that the current
6283113
t
owners of the Property as of the date of this Third Amendment are: EMD; Traer Creek
Metropolitan District, a quasi-municipal corporation and political subdivision of the State of
Colorado (the "District"); Traer Creek-WMT LLC; Traer Creek-HD LLC; Traer Creek-RP
LLC; Buffalo Ridge Affordable Housing Corporation; Buffalo Ridge II LLLP; Eric Applegate;
Guy Erickson; Dave Kautz; Dannie Corcoran; Daniel J. Leary; the Town of Avon; and the
Colorado Department of Transportation, as their respective interests appear of record.
E. Each of the conveyances referred to in Recital D above was made subject to the
terms and conditions of the Agreement, including, without limitation, Section 1.4 of the
Agreement. None of the conveyances referred to in Recital D above were accompanied by a
specific written grant of the power to amend the Agreement as provided in Section 1.4 of the
Agreement. Accordingly, with the exception of the Town, EMD and Traer, no owner of any real
property constituting the Property or other person or entity has been granted any power to amend
the Agreement. As provided in Section 1.4 of the Agreement, no person or entity other than the
Town, EMD and Traer is required to execute or acknowledge an amendment to the Agreement as
a condition of such amendment being effective and binding on all parties to the Agreement and
all owners of real property constituting the Property.
F. The District, while not an Owner for purposes of amending the Agreement, has
expressly assumed and undertaken the performance of certain obligations of the Owner under the
Agreement, as more particularly set forth in the First Amendment.
G. The Town, the District and Owners have determined and agreed that the
following circumstances and changed conditions, among others, require further amendment of
the Agreement in order to more fully and accurately reflect and implement the original intent of
the parties thereto: (I) the original formula for calculation of the police services component of
the Municipal Services Invoice as set forth in Section 4.10(a)(iv) of the Agreement has, in
practice, failed to produce a result that is consistent with the parties' intent of accurately
reflecting on an annual basis the Town's actual cost of providing police services to the Project;
(II) due to the current pace of development within the Project and other changed circumstances,
the timing of the Phase 3 Improvements and the Phase 4 Improvements as set forth in Sections
4.3(b)(iii) and 4.3(b)(iv) of the Agreement is no longer appropriate or desirable.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and the mutual covenants
and agreements of the Town and Owner, as more particularly set forth herein, and for other good
and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the
Town and Owner covenant and agree as follows:
1. Defined Terms. Unless otherwise defined in this Third Amendment, capitalized
terms used herein shall have the meanings ascribed to them in the Agreement.
6283113 2
2. Amendments. The Agreement is hereby modified as follows:
(a) Section 1.1.16 is amended and restated to read in its entirety as follows:
1.1.16 Exhibits: The following Exhibits to this Agreement, all of which are
incorporated by reference into and made a part of this Agreement:
Exhibit A - Legal Description of the Property
Exhibit B - Police Services Methodology
(b) A new Section 1.1.27(a) is inserted (after existing Section 1.1.27 and
before existing Section 1. 1.28) to read in its entirety as follows:
1.1.27(a) Police Services Methodology: The agreed upon methodology for
calculation of the Town's annual cost of providing police services to the Project, as generally
described in Section 4.5(a) and specifically set forth in the spreadsheet entitled Calculation of
Police Services Village (at Avon) 2005 Projected Budgeted Revenues, a copy of which is
attached as Exhibit B of this Agreement, and which shall apply to the calculation of the police
services component for the period commencing July 1, 2004, and continuing through the term of
this Agreement.
(c) Sections 4.3(b)(iii) and 4.3 b iv are amended and restated to read in their
entirety as follows:
(iii) Phase 3 of the East Beaver Creek Boulevard Improvements (the
"Phase 3 Improvements") shall consist of the following improvements to the segment of
East Beaver Creek Boulevard between the western terminus of Beaver Creek Place and
the western boundary of The Village (at Avon): (A) construction of a two-lane roadway
with a third auxiliary lane at intersections and access points; (B) streetscape
improvements to the segment between the western terminus and the eastern terminus of
Beaver Creek Place, which improvements shall be in general conformance with the East
Beaver Creek Boulevard Streetscape Improvement Plans dated April 2000, prepared by
Inter-Mountain Engineering, Ltd. for the Town of Avon; and (C) streetscape
improvements to the segment between the eastern terminus of Beaver Creek Place and
the western boundary of The Village (at Avon), which improvements shall be in general
conformance with the streetscape improvements within Planning Area A. Subject to the
Town's timely issuance of the requisite permits, the District shall commence the Phase 3
Improvements by April 15, 2009, and shall employ commercially reasonable efforts to
cause completion of the Phase 3 Improvements on or before December 31, 2009;
provided, however, that in the event of an earlier re-subdivision of any area within
Planning Areas A through F, inclusive, as depicted in The Village (at Avon) PUD
Development Plan Administrative Amendment No. 1, dated May 21, 2001, and recorded
in the Office of the Eagle County Clerk and Recorder on July 31, 2001, at Reception No.
763439, the District shall commence the Phase 3 Improvements by April 15, and shall
employ commercially reasonable efforts to cause completion thereof by December 31, of
the year immediately following the recordation of any final subdivision plat which re-
subdivides any such area.
628,11 3
3
(iv) Phase 4 of the East Beaver Creek Boulevard Improvements (the
"Phase 4 Improvements") shall consist of converting the Phase 2 Improvements from
temporary to permanent by the construction of (A) a permanent extension from the east
terminus of Beaver Creek Place to the Highway 6 Connector Road in accordance with the
road standards set forth in Section 1.5 of the PUD Guide, and (B) final design and
construction of a connection to Chapel Place. The District shall cause the Phase 4
Improvements to be commenced and completed in accordance with the subdivision
process involving Planning Areas A through F and H through J, as depicted in The
Village (at Avon) PUD Development Plan Administrative Amendment No. 1, dated May
21, 2001, and recorded in the Office of the Eagle County Clerk and Recorder on July 31,
2001, at Reception No. 763439.
(d) Section 4.10(a)(iv) is amended and restated to read in its entirety as
follows:
(iv) With respect to the Town's annual cost of providing police
services to the Project for the period commencing July 1, 2004, and continuing through
the term of this Agreement, the applicable Municipal Services Invoice shall set forth the
Town's calculation pursuant to the Police Services Methodology. The percentage of time
allocated to the patrol factor calculation (35%) and the percentage of time allocated to the
service call factor calculation (65%) shall remain constant from year to year. However,
in connection with preparing the Municipal Services Invoice for each upcoming year, the
Town shall update the following components of the Police Services Methodology
annually: (A) the total direct costs for the patrol factor calculation; (B) the ratio of
Project lane miles to total lane miles within the Town's municipal boundaries (expressed
as a percentage); (C) the total direct costs for the service call factor calculation; (D) the
ratio of service calls within the Project to total service calls within the Town's municipal
boundaries (expressed as a percentage); (E) the total indirect costs for the preparedness,
administration and support factor calculation; and (F) the ratio of residential dwelling
units and commercial square footage within the Project to total residential dwelling units
and commercial square footage within the Town's municipal boundaries (expressed as a
percentage representing the average between the residential dwelling unit ratio and the
commercial square footage ratio). The annual update described above shall be subject to
reconciliation and audit pursuant to the procedures described in Sections 4.10(e) and
4.10(f).
(e) Pursuant to the terms of Section 6.8, the parties hereby designate the
following addresses for notice or communication in substitution of the addresses
originally set forth in Section 6.8 (the substantive provisions of Section 6.8 being
unaffected hereby):
If to Town:
Town of Avon
P.O. Box 975
400 Benchmark Road
Avon, Colorado 81620
628311 3 4
Attn: Town Manager
With a copy to:
Town of Avon
P.O. Box 975
400 Benchmark Road
Avon, Colorado 81620
Attn: Town Attorney
If to Owner by mail delivery:
Traer Creek LLC
EMD Limited Liability Company
P.O. Box 640
Vail, Colorado 81658
Attn: Magnus Lindholm
Or, for delivery other than by mail:
Traer Creek LLC
EMD Limited Liability Company
0322 East Beaver Creek Blvd.
Avon, Colorado 81620
Attn: Magnus Lindholm
With a copy to:
Otten, Johnson, Robinson, Neff & Ragonetti, P.C.
950 17th Street, Suite 1600
Denver, Colorado 80202
Attn: Thomas J. Ragonetti, Esq. and Munsey L. Ayers, Esq.
If to the District:
Traer Creek Metropolitan District
c/o McGeady Sisneros, P.C.
1675 Broadway, Suite 2100
Denver, Colorado 80202
Attn: Darlene Sisneros, Esq.
3. Effect of Amendment. Except as expressly modified by this Third Amendment,
the Agreement is unmodified, and is hereby ratified and affirmed, and shall remain in full force
and effect in accordance with its terms. If there is any inconsistency between the terms of the
Agreement and the terms of this Third Amendment, the provisions of this Third Amendment
shall govern and control.
62831 1.3 5
I
4. Governing Law. This Third Amendment shall be governed by and construed in
accordance with the laws of the State of Colorado.
5. Counterparts. This Third Amendment may be executed in one or more
counterparts, each of which shall be deemed to be an original, and all such counterparts taken
together shall constitute one and the same instrument.
IN WITNESS WHEREOF, the Town and Owner have executed this Third
Amendment as of the day and year first set forth above.
OWNER:
TRAER CREEK LLC, a Colorado limited liability
company
By:_
Name
Title:
Magnus Lindholm
Manager
EMD LIMITED LIABILITY COMPANY, a
Colorado limited liability company
By: LAVA CORPORATION, a Colorado
corporation, its Manager
BY:
Name: Magnus Lindholm
Title: President
6283113
THE TOWN:
Approved as to legal form by:
Name: John Dunn
Title: Town Attorney
TOWN OF AVON, a municipal corporation of the
State of Colorado
Name: Albert D. Reynolds
Title: Mayor
AND IN WITNESS WHEREOF, the District hereby acknowledges and agrees to
perform its obligations under the Agreement, as modified by this Third Amendment.
THE DISTRICT:
TRAER CREEK METROPOLITAN DISTRICT, a
quasi-municipal corporation and political
subdivision of the State of Colorado
By: _
Name
Title:
ATTEST:
By:_
Name:
Title:
Secretary
Daniel J. Leary
President
6283113
i
STATE OF COLORADO )
ss:
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this day of
, 200_, by Magnus Lindholm as Manager of Traer Creek LLC, a Colorado
limited liability company.
Witness my hand and official seal.
My commission expires:
Notary Public
STATE OF COLORADO )
ss:
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this day of
, 200_, by Magnus Lindholm, as President of LAVA Corporation, a
Colorado corporation, as Manager of EMD Limited Liability Company, a Colorado limited
liability company.
Witness my hand and official seal.
My commission expires:
Notary Public
STATE OF COLORADO
COUNTY OF EAGLE
ss:
The foregoing instrument was acknowledged before me this day of
, 200_, by Albert J. Reynolds as Mayor of the Town of Avon, a municipal
corporation of the State of Colorado.
Witness my hand and official seal.
My commission expires:
Notary Public
628311 3 8
STATE OF COLORADO )
ss:
COUNTY OF EAGLE )
The foregoing instrument was acknowledged before me this day of
, 200_, by Daniel J. Leary as President of Traer Creek Metropolitan District,
a quasi-municipal corporation and political subdivision of the State of Colorado.
Witness my hand and official seal.
My commission expires:
Notary Public
6283113 9
Exhibit "B" To Third Amendment
To Annexation & Development Agreement
Calculation of Police Services
Village at (Avon)
2005 Projected Budgeted
Revenues
Town of Avon Statistics
Total Weighted Average Town Lane Miles - 2005
Total Weighted Average Village Lane Miles - 2005
Ratio of Village/Town Lane Miles - 2005
Total Town Calls for Service - 2005
Total Village Calls for Service - 2005
Ratio of Village/Town Calls for Service - 2005
Total Town Residential Dwelling Units - 12/31/05
Total Village Residential Dwelling Units - 12/31/05
Ratio of Village/Town Residential Units
Total Town Commercial Square Footage - 12/31/05
Total Village Commercial Square Footage - 12/31105
Ratio of Village/Town Square Footage
Calculation of Police Services - 2005 Budget
Patrol Factor Calculation
Direct Costs - 2005:
Personnel Costs - Patrol
Gas, Fleet Maint., & Fleet Replacement Charges - Patrol
Vail Dispatch Services
% Direct Time Involved in Patrolling Streets
and Self-initiated Calls for Service
Ratio of Village Lane Miles to Total Lane Miles
Total Patrol Factor
Service Call Factor Calculation
Direct Costs - 2005:
Personnel Costs - Patrol
Gas, Fleet Maint., & Fleet Replacement Charges - Patrol
Vail Dispatch Services
% Direct Time Involved in Responding to
Calls for Service
Personnel Costs - Investigations
Gas, Fleet Maint., & Fleet Replacement Charges - Invest.
Ratio of Village/Town Calls for Service
Total Calls for Service Factor
Preparedness, Administration & Support Factor
Indirect Costs - 2005:
Administration Budget
Indirect Patrol Costs
Indirect Investigations Costs
Average of Residential DUs & Commercial Square Feet
Total Preparedness, Administration & Support Factor
Total Police Services Cost - 2005
49.39
10.42
21.10%
14,611
1,008
6.90%
3,528
244
6.92%
1,661,793
322,853
19.43%
$ 949,124
120,073
181,094
1,250,291
X 35.00%
437,602
1) 1 1 not
$ 92,323
$ 949,124
120,073
181,094
1,250,291
X 65.00%
812,689
80,340
10,966
903,995
X 6.90%
$ 62,366
$ 278,010
75,159
6,418
359,587
i 9 1'10%
$ 47,365
$ 202,053
9/8/2004 12:55 PM
EXHIBIT "B"
Memo
To: Honorable Mayor and Town Council
Thru: Lary Brooks, Town Manager
From: Scott Wright, Finance DirectorQ-.?'--r----
Date: October 20, 2004
Re: Ordinance No. 04-18, Series 2004 General Obligation Refunding Bond Ordinance
Summary:
First reading of the Bond Ordinance for the Series 2004 General Obligation Refunding Bonds
will take place Tuesday evening. As you recall, these bonds will refund the Series 1997
General Obligation Bonds that were issued to finance the construction of the roundabouts.
The potential present value savings is approximately $200,000 and will save the Town
$20,000 per year in debt service payments.
The Bond Ordinance is adopted by the Town Council in order to authorize the issuance and
sale of municipal securities. The Bond Ordinance describes the nature of the bond offering,
the terms and conditions of the sale, and the obligation of the issuer to the bondholders.
As of the date of this memo, interest rates have actually fallen slightly and the present value
savings on the refunding is still above five percent (5%). Should interest rates rise
unexpectedly between now and the closing of the bonds, the Town would not incur any out-
of-pocket costs.
Town Manager Comments:
Attachments:
Ordinance No. 04-18
Page 1
TOWN OF AVON, COLORADO
ORDINANCE NO. 04-18
SERIES OF 2004
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
TOWN OF AVON, COLORADO, GENERAL OBLIGATION
REFUNDING BONDS, SERIES 2004 AND RELATED
SUPPLEMENTAL "B" INTEREST COUPONS;
PROVIDING THE FORM, TERMS AND CONDITIONS OF
THE BONDS AND THE SUPPLEMENTAL "B" INTEREST
COUPONS, THE MANNER AND TERMS OF ISSUANCE,
THE MANNER OF EXECUTION, THE METHOD OF
PAYMENT AND THE SECURITY THEREFOR;
PROVIDING CERTAIN COVENANTS AND OTHER
DETAILS AND MAKING OTHER PROVISIONS
CONCERNING THE BONDS; RATIFYING ACTION
PREVIOUSLY TAKEN AND APPERTAINING THERETO;
AND REPEALING ALL ORDINANCES IN CONFLICT
HEREWITH.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. Definitions. Terms used in this Ordinance shall have the meanings
specified in this section for all purposes of this Ordinance and of any ordinance amendatory
hereof, supplemental hereto or relating hereto, and of any instrument or document appertaining
hereto, except where the context by clear implication otherwise requires. All definitions include
the singular and plural and include all genders. Certain terms are parenthetically defined
elsewhere herein.
A. Beneficial Owner means any Person for which a Participant acquires an
interest in the Bonds or Registered Coupons.
B. Bond Insurer means the insurer of the Bonds and the Registered
Coupons, if any, designated in the Sale Certificate.
C. Bond Ordinance or Ordinance means this Ordinance of the Town which
provides for the issuance and delivery of the Bonds and Registered Coupons.
D. Bonds means the Town of Avon, Colorado, General Obligation
Refunding Bonds, Series 2004, in the aggregate principal amount approved by either the Town
Manager or the Finance Director in the Sale Certificate, issued pursuant to this Ordinance.
E. Business Day means a day on which banks located in which the Principal
Office is located are not required or authorized to be closed and on which the New York Stock
Exchange is not closed.
Ordinance No. 04-18 Refunding Bonds
Page 1 of 1
F. Charter means the Home Rule Charter of the Town.
G. Clerk means the Clerk of the Town Council, or in his or her absence, the
Deputy Clerk of the Town.
H. Code means the Internal Revenue Code of 1986, as amended, as in effect
on the date of delivery of the Bonds and Registered Coupons.
I. Continuing Disclosure Certificate means the Continuing Disclosure
Certificate executed by the Town on the date of delivery of the Bonds and Registered Coupons.
J. County means Eagle County, Colorado.
K. C.R.S. means the Colorado Revised Statutes, as amended and
supplemented as of the date hereof.
L. Depository means any securities depository as the Town may provide
and appoint, in accordance with the guidelines of the Securities and Exchange Commission,
which shall act as securities depository for the Bonds and Registered Coupons.
M. DTC means The Depository Trust Company, New York, New York, and
its successors and assigns.
N. Escrow Account means the account created and maintained under the
Escrow Agreement for payment of the Refunded Bond Requirements.
0. Escrow Agreement means the Escrow Agreement between the Town and
the Escrow Bank relating to the Refunded Bonds.
P. Escrow Bank means American National Bank, Denver, Colorado, acting
as escrow agent pursuant to the Escrow Agreement, or any successor.
Q. Federal Securities means only direct obligations of, or obligations the
principal of and interest on which are unconditionally guaranteed by, the United States (or
ownership interests in any of the foregoing) and which are not callable prior to their scheduled
maturities by the issuer thereof (or an ownership interest in any of the foregoing).
R. Finance Director means the duly appointed Finance Director of the
Town.
S. Letter of Representations means the blanket issuer letter of
representations from the Town to DTC to induce DTC to accept the Bonds and Registered
Coupons as eligible for deposit at DTC.
T. Maturity-Rate means Bonds which are due on the same date and bear the
same interest rate.
Ordinance No. 04-18 Refunding Bonds
Page 2 of 2
U. Mayo means the Mayor of the Town, or in his or her absence, the Mayor
Pro-Tem of the Town.
V. Official Statement means the final Official Statement in substantially the
form of the Preliminary Official Statement.
W. Outstanding means, as of any date of calculation, all Bonds or Registered
Coupons executed, issued and delivered by the Town except:
(1) Bonds or Registered Coupons cancelled by the Town, Paying
Agent, or Registrar or surrendered to the Town or Registrar for
cancellation;
(2) Bonds or Registered Coupons in lieu of, or in substitution for,
which other Bonds or Registered Coupons shall have been executed,
issued and delivered by the Town and authenticated by the Registrar
unless proof satisfactory to the Registrar is presented that any such Bonds
or Registered Coupons are duly held by the lawful Registered Owners
thereof; or
(3) Bonds or Registered Coupons deemed to have been paid within the
meaning of Section 18 hereof.
X. Owner or Registered Owner means any person who is the registered
owner of any Bond or Registered Coupon as shown on the registration books kept by the
Registrar.
Y. Participant or Participants means any broker-dealer, bank, or other
financial institution from time to time for which DTC or another Depository holds the Bonds or
Registered Coupons.
Z. Paying Agent means American National Bank, Denver, Colorado, the
paying agent for the Bonds and Registered Coupons or its successors or assigns.
AA. Person means any natural person, firm, partnership, association,
corporation, limited liability company, trust, public body, or other entity.
BB. Preliminary Official Statement means the Preliminary Official Statement
with respect to the Bonds and Registered Coupons.
CC. Principal Office means the principal office of the Registrar or Paying
Agent, as the case may be, as designated in writing by the American National Bank. The
Principal Office of American National Bank is currently 3033 E. First Avenue, Denver, CO
80206.
Ordinance No. 04-18 Refunding Bonds
Page 3 of 3
DD. Purchase Contract means the Bond Purchase Agreement between the
Town and the Underwriter.
EE. Record Date means the fifteenth day (whether or not a business day) of
the calendar month immediately preceding such interest payment date.
FF. Redemption Date means December 1, 2006.
GG. Refunded Bond Requirements means the payment of (i) the interest due
on the Refunded Bonds, both accrued and not accrued, as the same become due on and after the
date of delivery of the Bonds and Registered Coupons and on and before the Redemption Date;
and (ii) the principal of the Refunded Bonds upon prior redemption on the Redemption Date.
HH. Refunded Bonds means the Series 1997 Bonds maturing on and after
December 1, 2007, in the aggregate principal amount of $3,460,000.
H. Refunding Project means: (a) the payment of the Refunded Bond
Requirements; and (b) the payment of the costs of issuing the Bonds.
JJ. Registered Coupons means a coupon designated "Supplemental "B"
Interest Registered Coupon" which is in fully registered form evidencing supplemental interest
on the Bond or Bonds to which it is related and which, at the time of initial delivery of the
Bonds to the Underwriter, shall accompany the Bond or Bonds so delivered.
KK. Re istrar means American National Bank, Denver, Colorado, or its
successors and assigns, acting as registrar for the Bonds and Registered Coupons.
LL. Registrar Agreement means the Registrar and Paying Agent Agreement
between the Town and the Registrar.
MM. Sale Certificate means a certificate executed by either the Town Manager
or the Finance Director dated on or before the date of delivery of the Bonds and Registered
Coupons, setting forth (i) the rates of interest on the Bonds, including the rates of interest
evidenced by Registered Coupons, (ii) the conditions on which and the prices at which the
Bonds may be called for redemption; (iii) the existence and amount of any capitalized interest
or reserve fund; (iv) the price at which the Bonds and Registered Coupons will be sold; (v) the
aggregate principal amount and denominations of the Bonds; (vi) the amount of principal of the
Bonds maturing on each date; (vii) the dates on which principal and interest will be paid and the
first interest payment date; (viii) whether the Bonds will be issued with supplemental interest
evidenced by Registered Coupons; and (ix) the Bond Insurer, if any; all subject to the
parameters and restrictions contained in this Ordinance.
Ordinance No. 04-18 Refunding Bonds
Page 4 of 4
NN. Series 1997 Bonds means the Town's General Obligation Bonds, Series
1997, originally issued in the aggregate principal amount of $3,500,000 and currently
outstanding in the aggregate principal amount of $3,475,000.
00. Special Record Date means a special date fixed by the Registrar to
determine the names and addresses of registered owners of the Bonds for purposes of paying
interest on a special interest payment date for the payment of defaulted interest.
PP. State means the State of Colorado.
QQ. Supplemental Act means the Supplemental Public Securities Act,
constituting Title 11, Article 57, Part 2, C.R.S.
RR. Term Bonds means Bonds that are payable on or before their specified
maturity dates from sinking fund payments established for that purpose and calculated to retire
such Bonds on or before their specified maturity dates.
SS. Town means the Town.
TT. Town Council means the Town Council of the Town.
UU. Town Manager means the duly appointed Town Manager of the Town.
VV. Underwriter means Stifel, Nicolaus & Company, Incorporated Hanifen
Imhoff Division, Denver, Colorado.
WW. Unrefunded Bonds means the portion of the Series 1997 Bonds maturing
on and before December 1, 2007, currently outstanding in the aggregate principal amount of
$15,000, which are not refunded by the Bonds.
Section 2. Recitals.
A. The Town is a municipal corporation duly organized and existing under
the Charter adopted pursuant to Article XX of the Constitution of the State of Colorado.
B. Section 14.6 of the Charter authorizes the Town Council to issue
refunding bonds without an election.
C. Pursuant to Article X, Section 20 of the State Constitution, the Bonds and
Registered Coupons may be issued without an election if they are issued at a lower interest rate
than the Refunded Bonds.
D. The Refunded Bonds are subject to redemption prior to maturity, at the
option of the Town, on the Redemption Date and on any date thereafter at a redemption price
equal to the principal amount redeemed and accrued interest thereon to the Redemption Date.
E. The Unrefunded Bonds are not subject to redemption prior to maturity
and shall remain outstanding after the issuance of the Bonds.
Ordinance No. 04-18 Refunding Bonds
Page 5 of 5
F. The Town is not delinquent in the payment of any of the principal of or
interest on the Refunded Bonds.
G. The Town Council has determined, and does hereby determine, that the
interest of the Town and the public interest and necessity require the refunding, paying and
discharging of the Refunded Bonds as more particularly set forth above, and the issuance of the
Bonds and Registered Coupons therefor pursuant to the Charter.
H. The Town has received a proposal from the Purchaser for the purchase of
the Bonds and the Registered Coupons for the purpose of defraying in whole or in part the costs
of the Refunding Project.
1. There have been filed with the Town Clerk the proposed forms of the
following documents: the Purchase Contract; the Escrow Agreement; the Continuing
Disclosure Certificate; the Preliminary Official Statement; and the Registrar Agreement.
J. The Town Council desires to cause the Bonds and the Registered
Coupons to be issued, to authorize and direct the application of the proceeds thereof as set forth
herein, and to provide security for the payment thereof, all in the manner hereinafter set forth.
Section 3. Ratification. All actions heretofore taken (not inconsistent with the
provisions of this Ordinance) by the Town Council and other officers of the Town in connection
the refunding of the Refunded Bonds, and selling and issuing the Bonds and the Registered
Coupons for those purposes are ratified, approved and confirmed.
Section 4. Authorization of Refunding Project. The Refunding Project is
hereby authorized.
Section 5. Authorization of Bonds and Registered Coupons; Delegation
A. In accordance with the Constitution and laws of the State and the
provisions of this Ordinance, and for the purpose of defraying the cost of the Refunding Project,
the Town hereby authorizes to be issued its "Town of Avon, Eagle County, Colorado, General
Obligation Refunding Bonds, Series 2004," in the aggregate principal amount provided in the
Sale Certificate, subject to the parameters and restrictions contained in this Ordinance.
B. Section 11-57-204 of the Supplemental Act provides that a public entity,
including the Town, may elect in an act of issuance to apply all or any of the provisions of the
Supplemental Act. The Town Council hereby elects to apply all of the Supplemental Act to the
Bonds.
C. The Town Manager or the Finance Director are hereby independently
authorized and directed to execute and deliver the Sale Certificate and to determine and approve
Ordinance No. 04-18 Refunding Bonds
Page 6 of 6
the final determinations contained therein for the Bonds and Registered Coupons, subject to the
parameters and restrictions of this Ordinance.
Section 6. Bond and Registered Coupons Details.
A. The Bonds
(1) The Bonds shall be issued in fully registered form (i.e., registered
as to payment of both principal and interest) initially registered in the name of
Cede & Co. as nominee for DTC, as Depository for the Bonds. The Bonds shall
be issued in denominations of $5,000 or any integral multiple thereof (provided
that no Bond may be in a denomination which exceeds the principal coming due
on any maturity date and no individual Bond may be issued for more than one
Maturity-Rate). The Bonds shall be dated as of their date of delivery. The Bonds
shall be numbered in the manner determined by the Registrar.
(2) The Bonds shall mature, be payable, bear "A" interest payable to
the Registered Owners from their date to maturity or prior redemption, be subject
to redemption, be sold, and bear "B" interest evidenced by Registered Coupons,
all as provided in the Sale Certificate; provided that: (i) the first optional
redemption date of the Bonds shall not be later than December 1, 2014; (ii) the
redemption price on the Bonds shall not exceed 100%; (iii) the Bonds shall
mature no later than December 1, 2016; (iv) the net effective interest rate on the
Bonds (including both "A" and "B" interest) shall not exceed 4.50%; (v) the
aggregate principal amount of the Bonds shall not exceed $3,460,000; (vi) the
purchase price of the Bonds shall not be less than 98% of the original principal
amount of the Bonds; and (vii) the present value savings to be accomplished
through the Refunding Project shall be at least $173,000. Interest on the Bonds
shall be calculated on the basis of a 360-day year of twelve 30-day months,
payable semiannually on June 1 and December 1, commencing on the date
provided in the Sale Certificate.
(3) The principal of and premium, if any, on any Bond, or the interest
represented by the Registered Coupons, shall be payable to the Registered Owner
thereof as shown on the registration books kept by the Registrar upon maturity or
prior redemption of the Bonds, or upon the due date of the Registered Coupons,
and upon presentation and surrender at the Principal Office. If any Bond shall not
be paid upon such presentation and surrender at maturity, it shall continue to draw
Ordinance No. 04-18 Refunding Bonds
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interest at the rate borne by said Bond until the principal thereof is paid in full.
Payment of interest (excluding interest represented by the Registered Coupons) on
any Bond shall be made to the Registered Owner thereof by check, draft or wire,
sent by the Paying Agent, on or before each interest payment date (or, if such
interest payment date is not a business day, on or before the next succeeding
business day), to the Registered Owner thereof at his or her address as it last
appears on the registration books kept by the Registrar on the Record Date; but,
any such interest not so timely paid or duly provided for shall cease to be payable
to the person who is the Registered Owner thereof on the Record Date and shall
be payable to the person who is the Registered Owner thereof at the close of
business on a Special Record Date for the payment of any such defaulted interest.
Such Special Record Date and the date fixed for payment of such defaulted
interest shall be fixed by the Registrar whenever moneys become available for
payment of the defaulted interest, and notice of the Special Record Date shall be
given to the Registered Owners not less than ten days prior to the Special Record
Date by first-class mail to each such Registered Owner as shown on the
Registrar's registration books on a date selected by the Registrar, stating the date
of the Special Record Date and the date fixed for the payment of such defaulted
interest.
(4) The Paying Agent may make payments of interest on any Bond
(excluding interest represented by Registered Coupons) by such alternative means
as may be mutually agreed to between the Registered Owner of such Bond and
the Paying Agent (provided, however, that the Town shall not be required to make
funds available to the Paying Agent prior to the dates specified in the Registrar
Agreement). All such payments shall be made in lawful money of the United
States of America, without deduction for services of the Registrar or Paying
Agent.
B. Registered Coupons. At the time of initial delivery of the Bonds to the
Underwriter, certain of the Bonds shall be accompanied by Registered Coupons evidencing
additional interest on such Bonds, as described in the Sale Certificate. The Registered Coupons
shall be in fully registered form (i.e., registered as to payment of the supplemental interest)
provided that no Registered Coupon shall be issued for more than one due date. The Registered
Coupons shall be dated as of the date of delivery of the Bonds. The Registered Coupons shall
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be numbered in such a manner as the Registrar shall determine. Each Registered Coupon shall
entitle the registered owner thereof to receive payment of a portion of the interest payable with
respect to the Bonds as described herein. The Registered Coupons may be owned, transferred
and presented for payment separately from the Bonds. References in this Ordinance to the
Bonds shall be deemed to include the Registered Coupons where the context so requires.
Except as specifically provided herein or in the Registered Coupons, no provision of this
Ordinance relating to the Bonds shall be deemed to affect the rights of the owners of Registered
Coupons to receive payments as provided herein.
Section 7. Prior Redemption.
A. The Bonds designated in the Sale Certificate will be subject to
redemption at the option of the Town from any legally available funds on the dates set forth in
the Sale Certificate in whole, or in part from any maturities, in any order of maturity and by lot
within a Maturity-Rate in such manner as the Town may determine (giving proportionate
weight to Bonds in denominations larger than $5,000), at the price set forth in the Sale
Certificate, subject to the parameters and restrictions of this Ordinance.
B. The Term Bonds, if any, shall be subject to mandatory sinking fund
redemption at the times, in the amounts, and at the prices set forth in the Sale Certificate. On or
before the thirtieth day prior to each sinking fund payment date, the Registrar will proceed to
call the Term Bonds (or any Term Bond or Bonds issued to replace such Term Bonds) for
redemption from the sinking fund on the next December 1, and give notice of such call without
further instruction or notice from the Town.
At its option, to be exercised on or before the sixtieth day next preceding each
sinking fund redemption date, the Town may (a) deliver to the Registrar for cancellation Term
Bonds subject to mandatory sinking fund redemption on such date in an aggregate principal
amount desired or (b) receive a credit in respect of its sinking fund redemption obligation for any
Term Bonds subject to mandatory sinking fund redemption on such date, which prior to said date
have been redeemed (otherwise than through the operation of the sinking fund) and canceled by
the Registrar and not theretofore applied as a credit against any sinking fund redemption
obligation. Each Term Bond so delivered or previously redeemed will be credited by the
Registrar at the principal amount thereof on the obligation of the Town on such sinking fund
redemption date and the principal amount of Term Bonds to be redeemed by operation of such
sinking fund on such date will be accordingly reduced. The Town will on or before the sixtieth
day next preceding each sinking fund redemption date furnish the Registrar with its certificate
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indicating whether or not and to what extent the provisions of (A) and (B) above are to be
availed with respect to such sinking fund payment. Failure of the Town to deliver such
certificate shall not affect the Registrar's duty to give notice of sinking fund redemption as
provided in this Section.
C. In the case of Bonds of a denomination larger than $5,000, a portion of
such Bond ($5,000 or any integral multiple thereof) may be redeemed, in which case the
Registrar shall, without charge to the Owner of such Bond, authenticate and issue a replacement
Bond or Bonds for the unredeemed portion thereof.
D. Notice of any redemption shall be given by the Paying Agent in the name
of the Town by sending a copy of such notice by first-class, postage prepaid mail, not more
than 60 days and not less than 30 days prior to the redemption date to the Underwriter and to
each Registered Owner of any Bond all or a portion of which is called for redemption at his or
her address as it last appears on the registration books kept by the Registrar. Failure to give
such notice by mailing to the Registered Owner of any Bond or to the Underwriter, or any
defect therein, shall not affect the validity of the proceedings for the redemption of any other
Bonds.
(1) All official notices of redemption shall be dated and shall state:
(2) CUSIP numbers of Bonds to be redeemed;
(3) the redemption date;
(4) the redemption price;
(5) if less than all Outstanding Bonds are to be redeemed, the
identification of the Bonds (and, in the case of partial redemption, the respective
principal amounts and interest rate) to be redeemed;
(6) that on the redemption date the redemption price will become due
and payable upon each such Bond or portion thereof called for redemption, and
that interest thereon shall cease to accrue from and after said date; and
(7) the place where such Bonds are to be surrendered for payment of
the redemption price, which place of payment shall be the Principal Office or such
other office as shall be designated by the Paying Agent.
Prior to any redemption date, the Town shall deposit with the Paying Agent an
amount of money sufficient to pay the redemption price of all the Bonds or portions of Bonds
which are to be redeemed on that date.
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Official notice of redemption having been given as aforesaid, the Bonds or
portions of Bonds so to be redeemed shall, on the redemption date, become due and payable at
the redemption price therein specified, and from and after such date (unless the Town shall
default in the payment of the redemption price) such Bonds or portions of Bonds shall cease to
bear interest. Upon surrender of such Bonds for redemption in accordance with said notice, such
Bonds shall be paid by the Paying Agent at the redemption price. Installments of interest due on
or prior to the redemption date shall be payable as herein provided for payment of interest. Upon
surrender for partial redemption of any Bond, there shall be prepared for the registered owner a
new Bond or Bonds of the same Maturity-Rate in the amount of the unpaid principal. All Bonds
which have been redeemed shall be cancelled and destroyed by the Registrar and shall not be
reissued.
In addition to the foregoing notice, further notice may be given by the Paying
Agent in order to comply with the requirements of any depository holding the Bonds but no
defect in said further notice nor any failure to give all or any portion of such further notice shall
in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above
prescribed.
Notwithstanding the provisions of this section, any notice of optional redemption
may contain a statement that the redemption is conditioned upon the receipt by the Paying Agent
of funds on or before the date fixed for redemption sufficient to pay the redemption price of the
Bonds so called for redemption, and that if such funds are not available, such redemption shall be
cancelled by written notice to the Owners of the Bonds called for redemption in the same manner
as the original redemption notice was mailed.
Section 8. Execution and Authentication
The Bonds shall be executed in the name of and on behalf of the Town and signed
by the manual or facsimile signature of the Mayor, sealed with a manual or facsimile impression
of the seal of the Town and attested by the manual or facsimile signature of the Clerk. The
Registered Coupons accompanying the Bonds shall be executed in the name of and on behalf of
the Town by manual or facsimile signature of the Mayor, sealed with a manual or facsimile
impression of the seal of the Town and attested by the manual or facsimile signature of the Clerk.
The Bonds and Registered Coupons bearing the manual or facsimile signatures of the officers in
office at the time of the signing thereof shall be the valid and binding obligations of the Town
(subject to the requirement of authentication by the Registrar as hereinafter provided)
notwithstanding that before the delivery of the Bonds or Registered Coupons, or before the
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issuance of the Bonds or Registered Coupons upon transfer or exchange, any or all of the persons
whose facsimile signatures appear on the Bonds or Registered Coupons shall have ceased to fill
their respective offices. The Mayor and Clerk may, by the execution of a signature certificate
pertaining to the Bonds or Registered Coupons, adopt as and for their respective signatures the
facsimiles thereof appearing on the Bonds or Registered Coupons. At the time of the execution
of the signature certificate, the Mayor and Clerk may each adopt as and for his or her facsimile
signature the facsimile signature of his or her predecessor in office in the event that such
facsimile signature appears upon any of the Bonds or Registered Coupons.
No Bond or Registered Coupon shall be valid or obligatory for any purpose unless
the certificate of authentication, substantially in the form hereinafter provided, has been duly
manually executed by the Registrar. The Registrar's certificate of authentication shall be
deemed to have been duly executed by it if manually signed by an authorized officer or
representative of the Registrar, but it shall not be necessary that the same officer or
representative sign the certificate of authentication on all of the Bonds or Registered Coupons
issued hereunder. By authenticating any of the Bonds or Registered Coupons initially delivered
pursuant to this Ordinance, the Registrar shall be deemed to have assented to the provisions of
this Ordinance.
Section 9. Registration, Transfer and Exchange of Bonds and Registered
Coupons.
A. Subject to Section 10 hereof, books for the registration and transfer of the
Bonds and Registered Coupons shall be kept by the Registrar. Upon the surrender for transfer
of any Bond or Registered Coupons at the Registrar, duly endorsed for transfer or accompanied
by an assignment duly executed by the Registered Owner or his attorney duly authorized in
writing, the Registrar shall authenticate and deliver in the name of the transferee or transferees a
new Bond or Bonds of a like aggregate principal amount and of the same Maturity-Rate or a
new Registered Coupon of a like aggregate amount and of the same due date, bearing a number
or numbers not previously assigned. Bonds may be exchanged at the Principal Office for an
equal aggregate principal amount of Bonds of the same Maturity-Rate of other authorized
denominations. Registered Coupons may be exchanged at the Principal Office for an equal
aggregate principal amount of Registered Coupon as provided in Section 6 hereof and of the
same due date. The Registrar shall authenticate and deliver a Bond or Bonds or Registered
Coupon or Registered Coupons which the Registered Owner making the exchange is entitled to
receive, bearing a number or numbers not previously assigned. The Registrar may impose
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reasonable charges in connection with exchanges or transfers of Bonds or Registered Coupons,
which charges (as well as any tax or other governmental charge required to be paid with respect
to such transfer) shall be paid by the Owner of any Bond or Registered Coupon requesting such
exchange or transfer.
B. The Registrar shall not be required (1) to transfer or exchange all or a
portion of any Bond subject to prior redemption during the period beginning at the opening of
business 15 days next preceding the mailing of notice calling any Bonds for prior redemption as
herein provided or (2) to transfer or exchange all or a portion of a Bond after the mailing of
notice calling such Bond or portion thereof for prior redemption, except for the unredeemed
portion of Bonds being redeemed in part.
C. The person in whose name any Bond or Registered Coupon shall be
registered, on the registration books kept by the Registrar, shall be deemed and regarded as the
absolute owner thereof for the purpose of making payment thereof and for all other purposes
except as may otherwise be provided with respect to payment of interest to the Owners of the
Bonds or Registered Coupons as is provided in Section 6 hereof; and payment of or on account
of either principal or interest on any Bond or Registered Coupon shall be made only to or upon
the written order of the Registered Owner thereof or his legal representative, but such
registration may be changed upon transfer of such Bond or Registered Coupon in the manner
and subject to the conditions and limitations provided herein. All such payments shall be valid
and effectual to discharge the liability upon such Bond or Registered Coupon to the extent of
the sum or sums so paid.
D. If any Bond or Registered Coupon shall be lost, stolen, destroyed or
mutilated, the Registrar shall, upon receipt of such evidence, information or indemnity relating
thereto as it may reasonably require, authenticate and deliver a replacement Bond or Bonds of a
like aggregate principal amount and of the same Maturity-Rate, or replacement Registered
Coupon or Registered Coupons of a like aggregate amount and of the same due date, bearing a
number or numbers not previously assigned. If such lost, stolen, destroyed or mutilated Bond
or Registered Coupon shall have matured or is about to become due and payable, the Registrar
may direct the Paying Agent to pay such Bond in lieu of replacement.
E. The officers of the Town are authorized to deliver to the Registrar fully
executed but unauthenticated Bonds and Registered Coupons in such quantities as may be
convenient to be held in custody by the Registrar pending use as herein provided.
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F. Whenever any Bond or Registered Coupon shall be surrendered to the
Paying Agent upon payment thereof, or to the Registrar for transfer, exchange or replacement
as provided herein, such Bond or Registered Coupon shall be promptly cancelled by the Paying
Agent or Registrar, and counterparts of a certificate of such cancellation shall be furnished by
the Paying Agent or Registrar to the Town.
Section 10. Book Entry.
A. Notwithstanding any contrary provision of this Ordinance, the Bonds
initially shall be evidenced by one Bond for each Maturity-Rate in denominations equal to the
aggregate principal amount of the Bonds of such Maturity-Rate and the Registered Coupons
initially shall be evidenced by one Registered Coupon for each payment date for which a
Registered Coupon becomes due. Such initially delivered Bonds and Registered Coupons shall
be registered in the name of "Cede & Co." as nominee for DTC, the Depository for the Bonds
and Registered Coupons. The Bonds and Registered Coupons may not thereafter be transferred
or exchanged except:
(1) to any successor of DTC or its nominee, which successor must be
both a "clearing corporation" as defined in Section 4-8-102(5), C.R.S. and a qualified and
registered "clearing agency" under Section 17A of the Securities Exchange Act of 1934, as
amended; or
(2) upon the resignation of DTC or a successor or new depository
under clause (1) or this clause (2) of this paragraph A, or a determination by the Town Council
that DTC or such successor or a new Depository is no longer able to carry out its functions, and
the designation by the Town Council of another Depository acceptable to the Town Council and
to the Depository then holding the Bonds, which new Depository must be both a "clearing
corporation" as defined in Section 4-8-102(5), C.R.S. and a qualified and registered "clearing
agency" under Section 17A of the Securities Exchange Act of 1934, as amended, to carry out the
functions of DTC or such successor new depository; or
(3) upon the resignation of DTC or a successor or new Depository
under clause (1) or clause (2) of this paragraph A, or a determination of the Town Council that
DTC or such successor or Depository is no longer able to carry out its functions, and the failure
by the Town Council, after reasonable investigation, to locate another Depository under clause
(2) to carry out such Depository functions.
B. In the case of a transfer to a successor of DTC or its nominee as referred
to in clauses (1) and (2) of paragraph A hereof, upon receipt of the outstanding Bonds or
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Registered Coupons by the Registrar together with written instructions for transfer satisfactory
to the Registrar, a new Bond for each Maturity-Rate of the Bonds then outstanding and a new
Registered Coupon for each payment date of the Registered Coupon then outstanding shall be
issued to such successor or new Depository, as the case may be, or its nominee, as is specified
in such written transfer instructions. In the case of a resignation or determination under clause
(3) of paragraph A hereof and the failure after reasonable investigation to locate another
qualified Depository for the Bonds and Registered Coupons as provided in clause (3) of
paragraph A hereof, and upon receipt of the outstanding Bonds by the Registrar, together with
written instructions for transfer satisfactory to the Registrar, new Bonds shall be issued in
denominations of $5,000 or any integral multiple thereof and Registered Coupons shall be
issued in authorized amounts, registered in the names of such Persons, and in such authorized
denominations as are requested in such written transfer instructions; however, the Registrar
shall not be required to deliver such new Bonds or Registered Coupons within a period of less
than 60 days from the date of receipt of such written transfer instructions.
C. The Town Council and the Registrar shall be entitled to treat the
Registered Owner of any Bond or Registered Coupon as the absolute owner thereof for all
purposes hereof and any applicable laws, notwithstanding any notice to the contrary received by
any or all of them and the Town Council and the Registrar shall have no responsibility for
transmitting payments or notices to the Beneficial Owners of the Bonds and Registered
Coupons held by DTC or any successor or new Depository named pursuant to paragraph A
hereof.
D. The Town Council and the Registrar shall endeavor to cooperate with
DTC or any successor or new Depository named pursuant to clause (1) or (2) of paragraph A
hereof in effectuating payment of the principal amount of the Bonds upon maturity or prior
redemption by arranging for payment in such a manner that funds representing such payments
are available to the Depository on the date they are due.
E. Upon any partial redemption of any of the Bonds, Cede & Co. (or its
successor) in its discretion may request the Town to issue and authenticate a new Bond or shall
make an appropriate notation on the Bond indicating the date and amount of prepayment,
except in the case of final maturity, in which case the Bond must be presented to the Registrar
prior to payment. The records of the Paying Agent shall govern in the case of any dispute as to
the amount of any partial prepayment made to Cede & Co. (or its successor).
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Section 11. Negotiability. Subject to the registration provisions hereof, the
Bonds and Registered Coupons hereby authorized shall be fully negotiable and shall have all the
qualities of negotiable paper, and the holder or holders thereof shall possess all rights enjoyed by
the holders of negotiable instruments under the provisions of the Uniform Commercial Code.
The Bonds and Registered Coupons shall constitute the general obligations of the Town and the
full faith and credit of the Town shall be, and hereby is, pledged to the payment thereof.
Section 12. Form of Bonds, Registered Coupons, Statement of Insurance and
Registration Panel. The Bonds, the Registered Coupons, the Statement of Insurance, the
Registrar's certificate of authentication, the form of assignment, and the prepayment panel shall
be in substantially the following forms:
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(Form of Bond)
Unless this bond is presented by an authorized representative of The Depository Trust Company,
a New York corporation ("DTC"), to the Town or its agent for registration of transfer, exchange,
or payment, and any bond issued is registered in the name of Cede & Co. or in such other name
as is requested by an authorized representative of DTC (and any payment is made to Cede & Co.
or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL inasmuch as the Registered Owner hereof, Cede & Co., has
an interest herein.
UNITED STATES OF AMERICA
STATE OF COLORADO
COUNTY OF EAGLE
TOWN OF AVON
GENERAL OBLIGATION REFUNDING BOND
SERIES 2004
No. R
MATURITY DATE
December 1, 20
DATED AS OF
Date of Delivery
INTEREST RATE
% per annum
REGISTERED OWNER:
PRINCIPAL AMOUNT:
CEDE & CO.
CUSIP
DOLLARS
On the faith, credit and behalf of the Town of Avon (the "Town"), in Eagle
County, $tate of Colorado, the Town Council of the Town (the "Town Council") hereby
acknowledges the Town indebted and promises to pay to the Registered Owner specified above,
or registered assigns, the Principal Amount specified above, on the Maturity Date specified
above (unless called for earlier redemption), interest thereon payable on June 1 and December 1
in each year commencing on , 200_, at the Interest Rate per annum specified
above, until the principal sum is paid or payment has been provided therefor. This Bond bears
interest (computed on the basis of a 360-day year of twelve 30-day months) payable to the
Registered Owner at the Interest Rate specified above from the most recent interest payment date
to which interest has been paid or provided for, or, if no interest has been paid, from the date of
this Bond.
This Bond is one of an authorized series of Bonds issued pursuant to a Ordinance
of the Town Council adopted on November 9, 2004 (the "Bond Ordinance"). This Bond bears
interest, matures, is payable, is subject to redemption and is transferable as provided in the Bond
Ordinance and a Sale Certificate executed by either the Town Manager or the Finance Director
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prior to the delivery of the Bonds. To the extent not defined herein, terms used herein are used
as defined in the Bond Ordinance.
At the time of delivery of the Bonds, the Bonds shall be accompanied by
Registered Coupons evidencing additional interest on the Bonds. Each Registered Coupon shall
entitle the registered owner thereof to receive payment of a portion of interest payable with
respect to the Bonds, as more fully described in the Bond Ordinance.
[Insert redemption provisions from Sale Certificate.]
Reference is made to the Bond Ordinance and to all Ordinances supplemental
thereto, with respect to the nature and extent of the security for the Bonds, rights, duties and
obligations of the Town, the rights of the owners of the Bonds, the rights, duties and obligations
of the Paying Agent and Registrar, the circumstances under which any Bond is no longer
Outstanding, the ability to amend the Bond Ordinance, and to all the provisions of which the
owner hereof by the acceptance of this Bond assents.
The Bonds of the series of which this is one are issued by the Town, upon its
behalf and upon the credit thereof, for the purpose of defraying wholly or in part the costs of the
Refunding Project, all under the authority of and in full conformity with the Constitution and
laws of the State of Colorado, and pursuant to the Bond Ordinance of the Town Council duly
adopted and made a law of the Town prior to the issuance of this Bond. The Bonds are also
issued pursuant to portions of Title 11, Article 57, Part 2, C.R.S. (the "Supplemental Act").
Pursuant to Section I1-57-210 of the Supplemental Act, this recital shall be conclusive evidence
of the validity and the regularity of the issuance of the Bonds after their delivery for value.
It is hereby certified, recited and warranted that all the requirements of law have
been complied with by the proper officers of the Town in the issuance of this Bond; that the total
indebtedness of the Town, including that of this Bond, does not exceed any limit of indebtedness
prescribed by the Constitution or laws of the State of Colorado; and that provision has been made
for the levy and collection of annual taxes sufficient to pay the interest on and the principal of
this Bond when the same become due.
The full faith and credit of the Town are hereby irrevocably pledged for the
punctual payment of the principal of and the interest on this Bond.
For purposes of Section 265(b)(3)(B) of the Tax Code, the Town has designated
the Bonds as a Qualified Tax-Exempt Obligation.
This Bond shall not be valid or obligatory for any purpose until the Registrar shall
have manually signed the certificate of authentication herein.
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IN WITNESS WHEREOF, the Town Council of the Town of Avon, in Eagle
County, Colorado, has caused this Bond to be signed and executed on behalf of the Town by the
manual or facsimile signature of its Mayor and to be subscribed and attested with the manual or
facsimile signature of its Clerk and with a manual or facsimile impression of the seal of the
Town affixed hereto, as of the date specified above.
(Manual or Facsimile Signature)
Mayor, Town of Avon
Eagle County, Colorado
(MANUAL OR FACSIMILE SEAL)
Attest:
(Manual or Facsimile Signature)
Clerk, Town of Avon
Eagle County, Colorado
(End of Form of Bond)
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STATEMENT OF INSURANCE
[TO BE INSERTED]
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(Form of Registrar's Certificate of Authentication)
Date of authentication and registration:
This is one of the Bonds described in the within-mentioned Bond Ordinance, and
this bond has been duly registered on the registration books kept by the undersigned as Registrar
for such Bonds.
AMERICAN NATIONAL BANK, as
Registrar
By
(End of Form of Registrar's Certificate of Authentication)
Ordinance No. 04-18 Refunding Bonds
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(Form of Assignment)
For value received, the undersigned hereby sells, assigns and transfer unto
the within bond and hereby irrevocably constitutes and appoints
attorney, to transfer the same on the books of the Registrar, with
full power of substitution in the premises.
Dated:
Signature Guaranteed:
Address of Transferee:
Social Security or other tax
identification number of transferee:
NOTE: The signature to this Assignment must correspond with the name as written on the face
of the within bond in every particular, without alteration or enlargement or any change
whatsoever.
EXCHANGE OR TRANSFER FEES MAY BE CHARGED
(End of Form of Assignment)
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(Form of Prepayment Panel)
The following installments of principal (or portion thereof) of this bond have been
prepaid in accordance with the terms of the Bond Ordinance authorizing the issuance of this
bond.
Signature of
Date of Principal Authorized Representative
Prepayment Prepaid of the Depository
(End of Form of Prepayment Panel)
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(Form of Registered Coupon)
Unless this coupon is presented by an authorized representative of The Depository Trust
Company, a New York corporation ("DTC"), to the Town or its agent for registration of transfer,
exchange, or payment, and any coupon issued is registered in the name of Cede & Co. or in such
other name as is requested by an authorized representative of DTC (and any payment is made to
Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY
TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR
TO ANY PERSON IS WRONGFUL inasmuch as the Registered Owner hereof, Cede & Co., has
an interest herein.
UNITED STATES OF AMERICA
STATE OF COLORADO
COUNTY OF EAGLE
TOWN OF AVON
GENERAL OBLIGATION REFUNDING BONDS
SERIES 2004
SUPPLEMENTAL "B" INTEREST REGISTERED COUPON
REGISTERED COUPON NO.:
RELATED PRINCIPAL AMOUNT OF BONDS:
"B" INTEREST RATE:
INTEREST PAYABLE:
INTEREST PAYMENT DATE:
INTEREST START DATE:
REGISTERED OWNER: CEDE & CO.
CUSIP NO.:
On the Interest Payment Date specified above, the Town of Avon (the "Town"),
in Eagle County, State of Colorado, hereby promises to pay to the Registered Owner specified
above, or registered assigns, in lawful money of the United States of America, the Interest
Payable shown above, being partial interest on the Related Principal Amount of Bonds referred
to above at the "B" Interest Rate per annum identified above for the period from the Interest Start
Date specified above to the Interest Payment Date specified above. Such payment will be made
to the Registered Owner hereof upon presentation and surrender of this Supplemental "B"
Interest Registered Coupon at the Principal Office of the Paying Agent, all in accordance with
the Ordinance authorizing the issuance of the Bonds and Registered Coupons adopted by the
Ordinance No. 04-I8 Refunding Bonds
Page 24 of 24
Town Council of the Town on November 9, 2004 (the "Bond Ordinance"), and the provisions of
the Bond Ordinance are hereby incorporated herein by reference.
This Supplemental "B" Interest Registered Coupon is issued by the Town, upon
its behalf and upon the credit thereof, for the purpose of defraying wholly or in part the costs of
the Refunding Project (as defined in the Bond Ordinance), all under the authority of and in full
conformity with the Constitution and laws of the State of Colorado and pursuant to the Bond
Ordinance of the Town Council duly adopted and made a law of the Town prior to the issuance
of this registered coupon. This Supplemental "B" Interest Registered Coupon is also issued
pursuant to Title 11, Article 57, Part 2, C.R.S. (the "Supplemental Act"). Pursuant to Section 1I-
57-210 of the Supplemental Act, this recital shall be conclusive evidence of the validity and the
regularity of the issuance of this Supplemental "B" Interest Registered Coupon after its delivery
for value.
This Supplemental "B" Interest Registered Coupon may be transferred,
exchanged, and reissued at the Principal Office of the Registrar.
This Supplemental "B" Interest Registered Coupon shall not be valid or
obligatory for any purpose until the Registrar shall have manually signed the certificate of
authentication hereon.
Ordinance No. 04-18 Refunding Bonds
Page 25 of 25
IN WITNESS WHEREOF, the Town Council of the Town of Avon, in the
County of Eagle, Colorado, has caused this Supplemental "B" Interest Registered Coupon to be
signed and executed on behalf of the Town by the manual or facsimile signature of its Mayor and
to be subscribed and attested with the manual or facsimile signature of its Clerk, with a manual
or facsimile impression of the seal of the Town affixed hereto, as of the date specified above.
(Manual or Facsimile Signature)
Mayor, Town of Avon
Eagle County, Colorado
Attest:
(Manual or Facsimile Signature)
Clerk, Town of Avon
Eagle County, Colorado
(MANUAL OR FACSIMILE SEAL)
(End of Form of Registered Coupon)
Ordinance No. 04-18 Refunding Bonds
Page 26 of 26
(Form of Registrar's Certificate of Authentication
for Supplemental "B" Interest Registered Coupon)
Date of authentication and registration:
This is one of the Supplemental "B" Interest Registered Coupons described in the within-
mentioned Bond Ordinance, and this Supplemental "B" Interest Registered Coupon has been
duly registered on the registration books kept by the undersigned, as Registrar, for such
Supplemental "B" Interest Registered Coupons.
AMERICAN NATIONAL BANK, Denver,
Colorado, as Registrar
By:
Authorized Officer or Employee
(End of Form of Registrar's Certificate of Authentication)
Ordinance No. 04-18 Refunding Bonds
Page 27 of 27
(Form of Assignment for Supplemental "B" Interest Registered Coupon)
For value received, the undersigned hereby sells, assigns and transfers unto
the within Supplemental "B" Interest Registered Coupon and does
hereby irrevocably constitute and appoint attorney, to transfer the
within Supplemental "B" Interest Registered Coupon on the books kept for registration of the
within Supplemental "B" Interest Registered Coupon, with full power of substitution in the
premises.
Dated:
Signature Guaranteed:
Address of transferee:
Social Security or other tax
identification number of transferee:
NOTE: The signature to this Assignment must correspond with the name as written on the face
of the within Supplemental "B" Interest Registered Coupon in every particular, without
alteration or enlargement or any change whatsoever.
EXCHANGE OR TRANSFER FEES MAY BE CHARGED
(End of Form of Assignment for Supplemental "B" Interest Registered Coupon)
Section 13. Delivery of Bonds and Registered Coupons. When the Bonds and
Registered Coupons have been duly executed and authenticated, they will be delivered to the
Underwriter on receipt of the agreed purchase price. The Registrar shall initially register the
Bonds and Registered Coupons in the name of "Cede & Co.," as nominee of DTC. The funds
Ordinance No. 04-18 Refunding Bonds
Page 28 of 28
realized from the sale of the Bonds and Registered Coupons shall be applied solely to defray the
costs of the Refunding Project, and for no other purposes whatsoever. The Underwriter shall in
no manner be responsible for the application or disposal by the Town, or any of its officers, of
any of the funds derived from the sale of the Bonds and Registered Coupons.
Section 14. Disposition of Bond and Registered Coupon Proceeds. The net
proceeds of the Bonds and Registered Coupons shall be applied in the following manner:
A. First, an amount shall be credited to the Escrow Account which, together
with other Town funds available for such purpose, will be sufficient to establish any initial cash
balance remaining uninvested and to buy Federal Securities to effect the Refunding Project.
B. Second, the balance of the proceeds shall be applied by the Town solely
for the payment of all issuance expenses, or after adequate provision therefor is made, any
unexpended proceeds shall be deposited into the General Obligation Refunding Bonds, Series
2004, Bond Fund (the "Bond Fund") hereby created and held by the Town.
Section 15. Payment of Principal and Interest -- Tax Levy.
A. The interest and principal, if any, falling due on the Bonds prior to the
time when sufficient proceeds of a levy therefor are available shall be paid out of the general
revenues of the Town or other moneys available therefor. For the purpose of reimbursing any
such general revenues so used for principal and interest and to meet the principal and interest
payments accruing thereafter, as the same shall become due, there shall be levied by the Board
of County Commissioners for the County, on all taxable property in the Town, in addition to all
other taxes, direct annual taxes unlimited as to rate and in an amount sufficient to pay principal
and interest on the Bonds when due, promptly as the same respectively become due. The taxes
when collected shall be deposited in the Bond Fund, to be applied solely for the purpose of the
payment of interest and principal on the Bonds, and for no other purpose whatever, until the
indebtedness so contracted under this Ordinance, principal and interest, shall have been fully
paid, satisfied, and discharged; the Town may apply any other funds that may be in the treasury
of the Town and available for that purpose to the payment of interest or principal as the same
respectively become due, and to that extent the levy or levies herein provided for may
thereupon be diminished. The levies may also be diminished to the extent that funds are not
needed as a result of prior redemption in accordance with the terms of this Ordinance.
Said direct annual taxes levied to pay said principal and interest shall be in
addition to any and all other taxes levied to effect the purposes of the County or the Town. No
statutory or constitutional provision enacted after the issuance of the Bonds and Registered
Ordinance No. 04-18 Refunding Bonds
Page 29 of 29
Coupons shall in any manner be construed as limiting or impairing the obligation of the Town to
levy ad valorem taxes on property within the Town, without limitation of rate and in an amount
sufficient to pay the principal of and interest on the Bonds when due. Any changes in the
boundaries of the Town subsequent to the delivery of the Bonds shall be effected in such a
manner as to fully preserve and protect the rights of the owners of the Bonds.
It shall be the duty of the Town Council annually at the time and in the manner
provided by law for levying other taxes, if such action shall be necessary to effectuate the
provisions of this Ordinance, to ratify and carry out the provisions hereof with reference to the
levy and collection of taxes; and the Town Council shall require the officers of the Town to levy,
extend and collect such taxes on property within the Town, in the manner provided by law for
the purpose of creating a fund for the payment of the principal of the Bonds and the interest
accruing thereon. Such taxes, when collected, shall be kept for and applied only to the payment
of the interest and principal of the Bonds as hereinbefore specified.
B. The foregoing provisions of this Ordinance and the Sale Certificate are
hereby declared to be the certificate of the Town Council to the Board of County
Commissioners of the County, showing the aggregate amount of taxes to be levied by the Board
of County Commissioners from time to time, as required by law, for the purpose of paying the
principal of the bonded indebtedness and the interest thereon as the same shall hereafter accrue.
Section 16. Covenants with Registered Owners.
A. The Town covenants for the benefit of the Owners that it will not take
any action or omit to take any action with respect to the Bonds and Registered Coupons, the
proceeds thereof, any other funds of the Town or any facilities refinanced with the proceeds of
the Bonds and Registered Coupons if such action of omission (i) would cause the interest on the
Bonds, including original issue discount on the Registered Coupons, to lose its exclusion from
gross income for federal income tax purposes under Section 103 of the Code, or (ii) would
cause interest on the Bonds, including original issue discount on the Registered Coupons, to
lose its exclusion from alternative minimum taxable income as defined in Section 55(b)(2) of
the Code except to the extent such interest is required to be included in the adjusted current
earnings adjustment applicable to corporations under Section 56 of the Code in calculating
corporate alternative minimum taxable income, or (iii) would cause interest on the Bonds,
including original issue discount on the Registered Coupons, to lose its exclusion from
Colorado taxable income and Colorado alternative minimum taxable income under present state
law. The foregoing covenant shall remain in full force and effect notwithstanding the payment
Ordinance No. 04-18 Refunding Bonds
Page 30 of 30
in full or defeasance of the Bonds until the date on which all obligations of the Town in
fulfilling the above covenant under the Code have been met.
B. The Town also covenants for the benefit of each Owner that it will
annually prepare or cause to be prepared a budget and an audit report, will annually file or
cause to be filed with the appropriate State agency a copy of the adopted budget, the
appropriation Ordinance and audit report, all in accordance with State law.
C. The Town covenants that it will not take any action or fail to take any
action which action or failure to act would release any property which is included within the
boundaries of the Town at any time from liability for the payment of direct annual taxes levied
by the Town for the payment of the principal or interest on the Bonds.
D. The Town covenants for the benefit of the Owners, including Beneficial
Owners, that it will comply with the Continuing Disclosure Certificate which will be executed
by Town officers in connection with the delivery of the Bonds and Registered Coupons.
E. The Town hereby designates the Bonds as "qualified tax-exempt
obligations" for purposes of Section 265(b)(3)(B) of the Tax Code.
Section 17. Investment of Funds. Any moneys in any fund or account, other
than the Escrow Account, may be deposited, invested or reinvested in any manner permitted by
law. Such deposits or investments shall either be subject to redemption at any time at face value
by the holder thereof at the option of such holder, or shall mature at such time or times as shall
most nearly coincide with the expected need for moneys from the fund in question.
Section 18. Defeasance. When the principal and interest due in connection
with any Bond have been duly paid, all obligations hereunder with respect to such Bond shall be
discharged, and such Bond shall no longer be deemed to be Outstanding for any purpose of this
Ordinance. Payment of such Bond or any portion thereof shall be deemed made when the Town
has placed in escrow with a commercial bank exercising trust powers, an amount sufficient
(including the known minimum yield from Federal Securities in which such amount may be
wholly or in part initially invested) to meet all requirements of principal, premium, if any, and
interest on such Bond as the same becomes due to maturity or to any redemption date as of
which the Town shall have exercised or obligated itself to exercise its prior redemption option
and have given irrevocable instructions to the Registrar to give notice of redemption to the
holder of any such Bond. The Federal Securities shall become due or be callable at the option of
the holder at or prior to the respective times on which the proceeds thereof shall be needed, in
Ordinance No. 04-18 Refunding Bonds
Page 31 of 31
accordance with a schedule agreed upon between the Town and such bank at the time of creation
of the escrow.
In the event that there is a defeasance of only part of the Bonds, the Registrar
shall, if requested by the Town, institute a system to preserve the identity of the individual Bonds
or portions thereof so defeased, regardless of changes in Bond numbers attributable to transfers
and exchanges of Bonds; and the Registrar shall be entitled to reasonable compensation and
reimbursement of expenses from the Town in connection with such system.
Section 19. Escrow Account; Use of Proceeds There is hereby established the
Escrow Account, which shall be established and maintained at the Escrow Bank. A portion of
the proceeds of the Bonds and Registered Coupons and other available Town moneys, if any,
shall be deposited by the Town in the Escrow Account.
The Escrow Bank is hereby authorized and directed to use moneys credited to the
Escrow Account to provide for the payment of the acquired obligations to be held in the Escrow
Account and to fund the Escrow Account with the necessary beginning cash, if any, as required
in accordance with the escrow sufficiency computations verified by a certified public accountant.
Section 20. Maintenance of Escrow Account. The Escrow Account shall be
maintained in an amount, at the time of those initial deposits therein and at all times subsequent
at least sufficient, together with the known minimum yield to be derived from the initial
investment and any temporary reinvestment of the deposits therein or any part thereof in Federal
Securities to pay the Refunded Bond Requirements.
Section 21. Use of Escrow Account. Moneys shall be withdrawn by the
Escrow Bank from the Escrow Account in sufficient amounts and at such times to permit the
payment without default of the Refunded Bond Requirements. Any moneys remaining in the
Escrow Account after provision shall have been made for the payment or redemption in full of
the Refunded Bonds shall be applied to any lawful purpose of the Town as the Town Council
may hereafter determine.
Section 22. Exercise of Option. The Town Council has elected and does
hereby declare its intent to exercise on the behalf and in the name of the Town its option to
redeem the Refunded Bonds on the Redemption Date. The Town hereby authorizes and directs
the registrar for the Refunded Bonds, to give notice of refunding, defeasance and redemption of
the Refunded Bonds to the registered owners of the Refunded Bonds immediately after the
issuance of the Bonds and again not more than 60 and not less than 30 days prior to the
Ordinance No. 04-18 Refunding Bonds
Page 32 of 32
Redemption Date, in accordance with the provisions of the Ordinance authorizing the issuance of
the Refunded Bonds.
Section 23. Form of Notice. The notice so to be given shall be in substantially
the following form:
Ordinance No. 04-18 Refunding Bonds
Page 33 of 33
(Form of Notice)
NOTICE OF REFUNDING, DEFEASANCE AND REDEMPTION
TOWN OF AVON
IN THE COUNTY OF EAGLE AND STATE OF COLORADO
GENERAL OBLIGATION BONDS
SERIES 1997
CUSIP NO.
NOTICE IS HEREBY GIVEN that the Town of Avon, in the county of Eagle and
State of Colorado (the "Town") will cause to be deposited in escrow with American National
Bank refunding bond proceeds and other moneys which will be invested (except for a small
initial cash balance remaining uninvested) in certificates of indebtedness, notes, bonds and
similar securities which are direct obligations of, or obligations the principal or and interest on
which are unconditionally guaranteed by, the United States of America to refund, pay, redeem
and discharge portions of the principal and interest in connection with the Town's General
Obligation Bonds, Series 1997 (the "Series 1997 Bonds"), as more fully described below.
The Series 1997 Bonds maturing on and after December 1, 2007 (the "Refunded
Bonds") will be called for redemption on December 1, 2006 (the "Redemption Date"). On the
Redemption Date, the principal of such Refunded Bonds and accrued interest to the date of
redemption will become due and payable at the principal office of the paying agent, American
National Bank, Denver, Colorado (the "Paying Agent"), and thereafter interest will cease to
accrue.
According to a report of a firm of certified public accountants, licensed to practice
in Colorado, the escrow, including the known minimum yield from such investments and any
temporary reinvestments and the initial cash balance remaining uninvested, will be fully
sufficient at the time of the deposit and at all times subsequent, to pay the principal amount of
the Refunded Bonds on the Redemption Date, and interest accruing on and after the date of the
deposit and on and before the Redemption Date.
In compliance with the Comprehensive National Energy Policy Act of 1992 (H.R.
776), and the Interest and Dividend Compliance Act of 1983, the Paying Agent is required to
withhold at the current backup withholding rate a percentage from payments of principal to
individuals who fail to furnish valid Taxpayer Identification Numbers. A completed Form W-9
should be presented with your bond.
Ordinance No. 0.4-18 Refunding Bonds
Page 34 of 34
The above-referenced CUSIP numbers were assigned to this issue by Standard &
Poor's Corporation and are intended solely for bondholders' convenience. Neither the Paying
Agent nor the Town shall be responsible for selection or use of the CUSIP numbers, nor is any
representation made as to their correctness on the Refunded Bonds or as indicated in any
redemption notice.
Dated , 20_.
AMERICAN NATIONAL BANK,
Registrar
By:
Title:
Ordinance No. 04-18 Refunding Bonds
Page 35 of 35
Section 24. Direction to Take Authorizing Action. The Mayor, Clerk, the
Town Manager and the officers of the Town be, and they hereby are, authorized and directed to
take all action necessary or appropriate to effectuate the provisions of this Ordinance including
without limiting the generality of the foregoing: the original or additional printing of the Bonds
and Registered Coupons in such quantities as may be convenient, the procuring of bond
insurance, qualification of the Bonds and Registered Coupons for registration with a securities
depository, the execution of such certificates as may reasonably be required by the Underwriter,
including without limitation certificates relating to the execution of the Bonds and Registered
Coupons, the tenure and identity of the Town officials, the assessed valuation and indebtedness
of the Town, the rate of taxes levied against taxable property within the Town, the delivery of the
Bonds and Registered Coupons, the expectations of the Town with respect to the investment of
the proceeds of the Bonds and Registered Coupons, the receipt of the purchase price and the
absence of litigation, pending or threatened, if in accordance with the facts, affecting the validity
thereof, the absence and existence of factors affecting the exclusion of interest on the Bonds
(including original issue discount on the Registered Coupons) from gross income for federal
income tax purposes, and the Town's undertaking to provide continuing financial and other
disclosure in accordance with the Continuing Disclosure Certificate.
Section 25. Approvals, Authorizations, and Amendments. The forms of the
Registrar Agreement, the Escrow Agreement, the Purchase Contract and the Continuing
Disclosure Certificate are hereby approved. The Town shall enter into and perform its
obligations under the Registrar Agreement, the Escrow Agreement, the Continuing Disclosure
Certificate and the Purchase Contract, in the forms of each of such documents on filed with the
Town Clerk, with only such changes therein as are not inconsistent herewith or, with respect to
the Purchase Contract, with such changes as may be approved by either the Town Manager or
the Finance Director and subject to the parameters and restrictions contained in this Ordinance.
The Town Manager or the Finance Director is hereby authorized and directed to
execute the Registrar Agreement, the Escrow Agreement and the Continuing Disclosure
Certificate. The Town Manager or the Finance Director is hereby authorized and directed to
execute the Purchase Contract and an agreement with the Bond Insurer, if necessary. The Clerk
is hereby authorized to attest and to affix the seal of the Town to this Ordinance and the Mayor,
the Town Manager, the Finance Director and the Clerk are further authorized to execute, attest,
seal and authenticate such other documents, instruments or certificates as are deemed necessary
Ordinance No. 04-18 Refunding Bonds
Page 36 of 36
or desirable by bond counsel in order to issue and secure the Bonds and Registered Coupons.
Such documents are to be executed in substantially the forms hereinabove approved, provided
that such documents may be completed, corrected or revised as deemed necessary by the parties
thereto in order to carry out the purposes of this Ordinance. Copies of all of the documents shall
be delivered, filed and recorded as provided therein.
The proper officers of the Town are hereby authorized and directed to prepare and
furnish to bond counsel certified copies of all proceedings and records of the Town relating to
the Bonds and Registered Coupons and such other affidavits and certificates as may be required
to show the facts relating to the authorization and issuance thereof as such facts appear from the
books and records in such officers' custody and control or as otherwise known to them.
The approval hereby given to the various documents referred to above includes an
approval of such additional details therein as may be necessary and appropriate for their
completion, deletions therefrom and additions thereto as may be approved by bond counsel prior
to the execution of the documents. The execution of any instrument by the appropriate officers
of the Town herein authorized shall be conclusive evidence of the approval by the Town of such
instrument in accordance with the terms hereof.
Section 26. Successor Registrar or Paving Agent. The Registrar or Paying
Agent may resign at any time on 30 days' prior written notice to the Town. The Town may
remove said Registrar or Paying Agent upon 30 days' prior written notice to the Registrar and/or
Paying Agent, as the case may be. No resignation or removal of the Registrar or Paying Agent
shall take effect until a successor has been appointed; provided, that if no successor is appointed
by the end of 90 days, the Paying Agent or Registrar may petition a court of competent
jurisdiction to appoint a successor. If the Registrar or Paying Agent initially appointed shall
resign, or if the Town shall remove said Registrar or Paying Agent, the Town may, upon notice
mailed to each Registered Owner of any Bond, at the address last shown on the registration
books, appoint a successor Registrar or Paying Agent, or both. Every such successor Registrar
or Paying Agent shall be a bank or trust company located in and in good standing in the United
States and having a shareowners' equity (e.g., capital stock, surplus and undivided profits),
however denominated, not less than $10,000,000 or shall be an officer of the Town. It shall not
be required that the same institution serve as both Registrar and Paying Agent hereunder, but the
Town shall have the right to have the same institution serve as both Registrar and Paying Agent
hereunder.
Ordinance No. 04-18 Refunding Bonds
Page 37 of 37
Any company or national banking association into which the Registrar or Paying
Agent may be merged or converted or with which it may be consolidated or any company or
national banking association resulting from any merger, conversion or consolidation to which it
shall be a party or any company or national banking association to which the Registrar or Paying
Agent may sell or transfer all or substantially all of its corporate trust business, provided such
company shall be eligible, shall be the successor to such Registrar or Paying Agent without the
execution or filing of any paper or further act, anything herein to the contrary notwithstanding.
Section 27. Official Statement. The distribution and use of the Preliminary
Official Statement is in all respects hereby ratified, approved and confirmed. The Underwriter is
authorized to prepare or cause to be prepared, and the Town Manager is authorized and directed
to approve, on behalf of the Town, a final Official Statement for use in connection with the
offering and sale of the Bonds and Registered Coupons. The execution of a final Official
Statement by the Town Manager shall be conclusively deemed to evidence the approval of the
form and contents thereof by the Town.
Section 28. Contract with Bondholders.
A. After any of the Bonds and Registered Coupons have been issued, this
Ordinance shall constitute a contract between the Town and the holder or holders of the Bonds
and Registered Coupons and shall be and remain irrepealable until the Bonds and the interest
thereon shall have been fully paid, satisfied and discharged.
B. The Town may, without the consent of or notice to the Owners, adopt
one or more ordinances supplemental hereto, which supplemental ordinances shall thereafter
form a part hereof, for any one or more of the following purposes:
(1) To cure any ambiguity, or to cure, correct or supplement any
formal defect or omission or inconsistent provision contained in this Ordinance, to make any
provision necessary or desirable due to a change in law, to make any provisions with respect to
matters arising under this Ordinance, or to make any provisions for any other purpose if, in each
case, such provisions are necessary or desirable and do not adversely affect the interests of the
Registered Owners;
(2) To pledge additional revenues, properties or collateral as security
for the Bonds;
(3) To grant or confer upon the Registrar for the benefit of the
Registered Owners any additional rights, remedies, powers or authorities that may lawfully be
granted to or conferred upon the Registered Owners; or
Ordinance No. 04-18 Refunding Bonds
Page 38 of 38
(4) To qualify this Ordinance under the Trust Indenture Act of 1939.
C. Except for amendatory or supplemental Ordinances adopted pursuant to
paragraph B hereof, the Owners of not less than two-thirds (2/3) in aggregate principal amount
of the Bonds then Outstanding shall have the right, from time to time, to consent to and approve
the adoption by the Town of such ordinances amendatory or supplemental hereto as shall be
deemed necessary or desirable by the Town for the purpose of modifying, altering, amending,
adding to, or rescinding, in any particular, any of the terms or provisions contained in this
Ordinance; provided however, that without the consent of the Owners of all the Bonds and
Registered Coupons affected thereby, nothing herein contained shall permit, or be construed as
permitting:
(1) a change in the terms of the maturity of any Bond, in the principal
amount of any Bond or the rate of interest thereon, the dates of payment of principal and interest,
or in the terms of prior redemption of any Bond;
(2) an impairment of the right of the Owners to institute suit for the
enforcement of any payment of the principal of or interest on the Bonds when due;
(3) a privilege or priority of any Bond or any interest payment over
any other Bond or interest payment; or
(4) a reduction in the percentage in principal amount of the Bonds the
consent of whose Owners is required for any such amendatory or supplemental ordinance.
If, at any time, the Town shall desire to adopt an amendatory or supplemental
ordinance for any of the purposes of this paragraph C, the Town shall cause notice of the
proposed adoption of such amendatory or supplemental Ordinance to be given by mailing such
notice by certified or registered first-class mail to the Underwriter and to each Owner at the
address shown on the registration books of the Registrar, at least thirty days prior to the proposed
date of adoption of any such amendatory or supplemental ordinance. Such notice shall briefly
set forth the nature of the proposed amendatory or supplemental ordinance and shall state that
copies thereof are on file at the offices of the Town or some other suitable location for inspection
by all Owners. If, within sixty days or such longer period as shall be prescribed by the Town
following the giving of such notice, the Owners of not less than the required percentage in
aggregate principal amount of the Bonds then outstanding at the time of the execution of any
such amendatory or supplemental ordinance shall have consented to and approved the execution
thereof as herein provided, no Owner shall have any right to object to any of the terms and
provisions contained therein, or the operation thereof, or in any manner to question the propriety
Ordinance No. 04-18 Refunding Bonds
Page 39 of 39
of the adoption and effectiveness thereof, or to enjoin or restrain the Town from adopting the
same or from taking any action pursuant to the provisions thereof.
Section 29. Pledge of Revenues. The creation, perfection, enforcement, and
priority of the pledge of revenues to secure or pay the Bonds and Registered Coupons as
provided herein shall be governed by Section 11-57-208 of the Supplemental Act and this
Ordinance. The revenues pledged for the payment of the Bonds and Registered Coupons, as
received by or otherwise credited to the Town, shall immediately be subject to the lien of such
pledge without any physical delivery, filing, or further act. The lien of such pledge on the
revenues pledged for payment of the Bonds and Registered Coupons and the obligation to
perform the contractual provisions made herein shall have priority over any or all other
obligations and liabilities of the Town. The lien of such pledge shall be valid, binding, and
enforceable as against all persons having claims of any kind in tort, contract, or otherwise against
the Town irrespective of whether such persons have notice of such liens.
Section 30. No Recourse against Officers and Agents. Pursuant to Section 11-
57-209 of the Supplemental Act, if a member of the Town Council, or any officer or agent of the
Town acts in good faith, no civil recourse shall be available against such member, officer, or
agent for payment of the principal, interest or prior redemption premiums on the Bonds. Such
recourse shall not be available either directly or indirectly through the Town Council or the
Town, or otherwise, whether by virtue of any constitution, statute, rule of law, enforcement of
penalty, or otherwise. By the acceptance of the Bonds and Registered Coupons and as a part of
the consideration of their sale or purchase, any person purchasing or selling such Bond
specifically waives any such recourse.
Section 31. Conclusive Recital. Pursuant to Section 11-57-210 of the
Supplemental Act, the Bonds and the Registered Coupons shall contain a recital that they are
issued pursuant to certain provisions of the Supplemental Act. Such recital shall be conclusive
evidence of the validity and the regularity of the issuance of the Bonds and the Registered
Coupons after their delivery for value.
Section 32. Limitation of Actions. Pursuant to Section 11-57-212 of the
Supplemental Act, no legal, or equitable action brought with respect to any legislative acts or
proceedings of the Town in connection with the authorization or issuance of the Bonds and the
Registered Coupons, including but not limited to the adoption of this Ordinance, shall be
commenced more than thirty days after the authorization of the Bonds.
Ordinance No. 04-18 Refunding Bonds
Page 40 of 40
Section 33. Severability. If any section, paragraph, clause, or provision of this
Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or
unenforceability of such section, paragraph, clause, or provision shall not affect any of the
remaining provisions of this Ordinance.
Section 34. Repealer. All acts, orders, and Ordinances and parts thereof, in
conflict with this Ordinance be, and the same hereby are, rescinded.
Section 35. Holidays. If the date for making any payment or the last date for
performance of any act or the exercising of any right, as provided in this Ordinance, shall be a
legal holiday or a day on which banking institutions in the city in which is located the Principal
Office are authorized by law to remain closed, such payment may be made or act performed or
right exercised on the next succeeding day not a legal holiday or a day on which such banking
institutions are authorized by law to remain closed, with the same force and effect as if done on
the nominal date provided in this Ordinance, and no interest shall accrue for the period after such
nominal date.
Section 36. Ordinance Irrepealable. After any of the Bonds and the Registered
Coupons herein authorized are issued, this Ordinance shall constitute a contract between the
Town and the owners of the Bonds, and shall be and remain irrepealable until the Bonds and
interest thereon shall be fully paid, canceled and discharged as herein provided.
Section 37. Disposition of Ordinance. This Ordinance, as adopted by the
Town Council, shall be numbered and recorded by the Clerk in the official records of the Town.
The adoption and publication shall be authenticated by the signatures of the Mayor, or Mayor
Pro-Tem, and the Clerk, and by the certificate of publication.
After the first reading of this Ordinance, it shall be published in full. Such
publication shall include the date, hour and place where the Town Council will hold a public
hearing on this Ordinance prior to second reading and final adoption hereof.
Section 38. Effective Date. Pursuant to Section 6.4 of the Charter, this
ordinance shall be in full force and effect seven days after public notice following final passage.
INTRODUCED, APPROVED ON FIRST READING, AND ORDERED
POSTED, this 26`h day of October, 2004, and a public hearing on this ordinance shall be held at
the regular meeting of the Town Council of the Town of Avon, Colorado on the 9m day of
November, 2004, at 5:30 p.m. in the Municipal Building of the Town of Avon, Colorado.
TOWN OF AVON, COLORADO
Ordinance No. 04-18 Refunding Bonds
Page 41 of 41
Mayor
ATTEST:
Clerk
Ordinance No. 04-18 Refunding Bonds
Page 42 of 42
INTRODUCED, APPROVED ON SECOND READING, AND ORDERED
POSTED this 9th day of November, 2004.
TOWN OF AVON, COLORADO
Mayor
ATTEST:
Clerk
APPROVED AS TO FORM:
Attorney
Ordinance No. 04-18 Refunding Bonds
Page 43 of 43
STATE OF COLORADO )
COUNTY OF EAGLE ) SS.
TOWN OF AVON )
I, the Town Clerk of the Town of Avon, Colorado, do hereby certify:
1. That the foregoing pages are a true, perfect and complete copy of the
Ordinance adopted by the Town Council of the Town of Avon (the "Town Council"), had and
taken at an open, regular meeting of the Town Council held at the Town Hall, in Avon,
Colorado, on November 9, 2004, convening at the hour of 5:30 p.m. as recorded in the regular
book of official records of the proceedings of said Town of Avon kept in my office.
2. That the Ordinance was read by title, duly moved and seconded and the
Ordinance was approved on first reading by a vote of _ to _ of the members of the Town
Council at the regular meeting of the Town Council held at the Town Hall, in Avon, Colorado,
on October 26, 2004, convening at the hour of 5:30 p.m., as follows:
Those Voting Yes:
Those Voting No:
Those Abstaining:
Those Absent:
3. That the passage of the Ordinance on second reading was duly moved and
seconded, and the Ordinance was finally adopted at the meeting of November 9, 2004, by an
affirmative vote of a majority of the members of the Town Council as follows:
Those Voting Yes:
Ordinance No. 04-18 Refunding Bonds
Page 44 of 44
Those Voting No:
Those Abstaining:
Those Absent:
5. The members of the Town Council were present at each of the meetings
and voted on the passage of such Ordinance as set forth above.
6. Notice of the meetings of October 26, 2004 and November 9, 2004, in the
forms attached hereto as Exhibit A was posted at the Town Hall, not less than 24 hours prior to
each meeting in accordance with law.
7. There are no bylaws, rules or regulations of the Town Council which
might prohibit the adoption of said Ordinance.
8. That on , 2004, and , 2004 the full text
of the ordinance was posted at the office of the Town Clerk and in three public places in the
Town.
9. After the first reading of the Ordinance, the Ordinance was published in
full in The Vail Daily. The affidavit of publication for such publication is attached hereto as
Exhibit B.
WITNESS my hand and the seal of said affixed this November _, 2004.
Clerk
(SEAL)
Ordinance No. 04-18 Refunding Bonds
Page 45 of 45
EXHIBIT A
Notice of the October 26, 2004 and November 9, 2004 Meetings.
EXHIBIT B
(Attach affidavit of publication)
47
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Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Eric Heidemann, Senior Planner Z?f
Tambi Katieb, Director of Community Developmeo_?
DaLm October 20, 2004
AVO C O L O R A D O
Re: First Reading of Ordinance 04-19, recommending approval of Chapter 15.30
"Outdoor Lighting Ordinance" of the Avon Municipal Code
Summary
Town Council heard the first reading of this ordinance on May 25, 2004, opening public
comment and providing staff with direction on several considerations. We then heard the
ordinance again in June, and indefinitely tabled it until the results of a Request for
Proposals on the subject were reviewed.
Based on direction from your October 12, 2004 meeting, we are proposing the attached
ordinance for adoption on first reading.
The Town Council identified the need for increased outdoor lighting regulations at a meeting
earlier this year. Staff was directed to investigate and propose a solution to this issue
because of the significant growth and building activity the Town has and continues to
experience.
After several months of consideration, public hearings (including a night-time tour of existing
outdoor lighting), and revisions of draft formats and regulatory language the Planning and
Zoning Commission approved Resolution 04-14 at their May 18, 2004 meeting,
recommending approval of Chapter 15.30 "Outdoor Lighting Ordinance" to the Council.
Since May, the proposed ordinance has been revised in several areas as a result of further
discussions with the Council and the Community Development subcommittee. These
discussions also included a review of certain provisions of the ordinance (such as clear-
glass fixtures and sign lighting) as a result of input from the public throughout the process.
Highlights of the recommended version include:
¦ A five-year amortization provision for non-compliant light fixtures.
No exemption for municipal lighting fixtures. Instead, the 5-year CIP budget includes
funds for regular replacement of existing streetscape lights beginning in 2006. We
Memo to Town Council, October 26, 2004 Page 1 of 3
Outdoor Lighting Ordinance, First Reading (cont.) of Ordinance 04-19 (formerly 04-08)
will schedule a work session before the close of this year with the Planning and
Zoning Commission and Council to select the new standard light fixtures for our
streetscape lights.
• A "safe-harbor" provision for up-lighting based on the performance of such lights in a
case by case basis.
• A "safe-harbor" provision for clear glass luminaries shielded by architecture of a
structure.
¦ The required submittal of a lighting plan for all commercial projects and all residential
projects multifamily or larger.
¦ Incorporation of diagrams of acceptable and unacceptable fixtures in the ordinance,
as well as a user guide available to the public that will feature example cut sheets of
recommended fixtures.
• Finally, introduction of the Dark-Sky Preservation Initiative, a program that will create
a baseline measure of total observable lumens at select fixed points on the valley
floor located in prominent public areas, as well as photo documentation of existing
lighting conditions so that we might review those points and total lumen output after
5 years of implementation of this ordinance to determine whether or not we have
had a measurable effect in keeping with the goals of this ordinance.
Staff believes the continued dialogue over the last six months has resulted in a more
practical approach to alleviating and preventing excessive outdoor lighting in Avon.
Discussion:
Staff recommends that you approve this Ordinance on first reading, informing us of any
areas you would like to see further refined by second reading on November 9, 2004, which
will be a public hearing.
Available actions:
1. Adopt Ordinance 04-19 approving Chapter 15.30 "Outdoor Lighting Ordinance" on first
reading, scheduling second reading (and public hearing) on November 9, 2004.
2. Continue Ordinance 04-19 on First Reading.
3. Deny Ordinance 04-19 on First Reading.
Staff Recommended Motion:
"I move to approve Ordinance 04-19, approving the "Outdoor Lighting Ordinance", on first
reading".
Memo to Town Council, October 26, 2004 Page 2 of 3
Outdoor Lighting Ordinance, First Reading (cont.) of Ordinance 04-19 (formerly 04-08)
Manager Comments:
Attachments:
A- Ordinance 04-19 adopting Chapter 15.30 in the Avon Municipal Code
B- Planning & Zoning Resolution 04-14 (and packet from May 18, 2004 P&Z meeting)
Memo to Town Council, October 26, 2004 Page 3 of 3
Outdoor Lighting Ordinance, First Reading (cont.) of Ordinance 04-19 (formerly 04-08)
ORDINANCE NO. 04-19
AN ORDINANCE AMENDING TITLE 15, MUNICIPAL
CODE OF THE TOWN OF AVON, AS IT RELATES TO
OUTDOOR LIGHTING STANDARDS
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
AVON,COLORADO:
Section 1. Amendment. Title 15, Avon Municipal Code is amended by the addition of
a new Chapter 15.30 as follows:
Chapter 15.30
OUTDOOR LIGHTING ORDINANCE
Sections:
15.30.010 Intent and Purpose
15.30.020 Definitions
15.30.030 Applicability
15.30.040 General Outdoor Lighting Standards
15.30.050 Lighting Plan
15.30.060 Violations
15.30.070 Figures and Diagrams
15.30.010 Intent and Purpose. The Town of Avon is experiencing a significant
increase in the use of exterior illumination. Town residents and guests value small town
character and the qualities associated with this character, including the ability to view the
stars against a dark sky. They recognize that inappropriate and poorly designed or
installed outdoor lighting causes unsafe and unpleasant conditions, and limits their ability
to enjoy the nighttime sky.
This Chapter is intended to help maintain the health, safety, and welfare of the residents
of Avon through the regulation of exterior lighting in order to:
A. Promote adequate light for safety and security;
B. Reduce light trespass beyond property lines, and offensive light sources;
C. Prevent inappropriate and poorly designed or installed outdoor lighting;
D. Reduce glare;
E. Reduce nighttime light pollution and to protect and reclaim the ability to view the
night sky by restricting the unnecessary upward projection of light;
F. Phase out existing non-conforming fixtures that violate this chapter, including those
owned by the Town; and
In order to determine the effectiveness of the ordinance, staff shall develop and
implement the "Avon Dark Sky Preservation Initiative" program to measure observable
lumen counts at fixed points on the valley floor. Baseline monitoring shall take place on
an annual basis, and five (5) years after the implementation of this ordinance, the findings
shall be presented to the Planning and Zoning Commission and the Town Council to
determine whether or not the intent and goals of this chapter are being satisfied.
15.30.020 Definitions.
Exterior Lighting. Temporary or permanent lighting that is installed, located,, or used in
such a manner to cause light rays to shine outdoors. Luminaires that are indoors that are
intended to light something outside are considered exterior lighting.
Fixture Height. The vertical distance from the ground directly below the centerline of the
fixture to the lowest direct light emitting part of the fixture.
Full cut-off fixture. A fixture designed and installed where no direct light (as opposed to
scattered light) is emitted at or above a horizontal plane running through the lowest point
on the fixture.
Fully shielded. The luminaire incorporates a solid opaque barrier (the shield), which
permits no light to escape through the barrier.
Glare. Stray, unshielded (including reflected) light striking the eye that may result in (a)
nuisance or annoyance glare such as light shining into a window; (b) discomfort glare
such as bright light causing squinting of the eyes; (c) disabling glare such as bright light
reducing the ability of the eyes to see into shadows or (d) reduction of visual
performance.
Light Pollution. Any manmade light that diminishes the ability to view the night sky.
Light Source. The source of the light emitted by the fixture. Also referred to as `bulb.'
Light Trespass. Light falling on the property of another or the public right-of-way when
it is not required to do so.
Light trespass from uncontrolled source Controlled source and good aiming prevent light trespass.
15.30.03.0. Applicability. The lighting standards of this Chapter shall be applicable
to all exterior lighting within the Town of Avon. All exterior lighting installed after the
effective date of this Chapter shall conform to the standards established by this Chapter.
All existing lighting installed before the effective date of this Chapter shall be brought
into conformance with the Chapter within five (5) years from the date of adoption of this
Ordinance, or by November , 2009.
15.30.040 General Outdoor Lighting Standards
The following lighting standards shall apply to all properties located within municipal
boundaries:
A. The style, color, and design of the fixtures shall be compatible with the overall design
concept and use of materials for the building, and site area of the lighting plan.
B. All lighting shall be shielded such that the source of illumination (filament, frosted
bulb or the reflection of those from a shiny surface) is not visible from the property
line thereby reducing glare and interference with boundary streets and adjacent
properties. Light fixtures near adjacent property may require special shielding
devices to prevent light trespass.
C. All sign lighting and lighting not used for safety purposes must be turned off by 11:00
p.m. or no later than one hour past the posted closing hours, whichever is less
restrictive. All sign lighting and lighting not used for safety purposes may not be
turned on earlier than 5:00 a.m., or 1 hour before the posted opening hour, whichever
is less restrictive.
D. All lighting (including, but not limited to street, parking lot, security, walkway and
building) shall conform with the definition for full cut-off fixtures with the light
source downcast and fully shielded, with the following exceptions:
1. Holiday lighting from November 15th to March 1st. Flashing lights on
residential properties are prohibited and holiday lights shall be turned off by
11:00 P.M.
2. Sensor activated luminaries, provided:
a. It is located in such a manner as to prevent glare and lighting onto
properties of others or into the public right-of-way.
b. The luminaire is set to only go on when activated and to go off within
five minutes after activation has ceased.
c. The luminaire shall not be triggered by activity off the property.
3. All temporary emergency lighting needed by the Fire and Police Departments,
or other emergency agencies.
4. Floodlights with external shielding can be deflected up to twenty five (25)
degrees from a vertical plane as measured through the central axis of the light
beam from the luminaire, only if the luminaire does not cause glare or light to
shine on adjacent property or public rights-of-way.
Compliant floodlight angle ?n•
5. Uplighting for flags, address markers, architectural features, and low-voltage
landscape lighting provided the luminaire is located, aimed, and shielded so
that direct illumination is focused exclusively on the object and away from
adjoining properties and the public street right-of-way. Architectural features
may be illuminated by uplighting, provided that the light is effectively
contained by the structure. In all cases, uplighting must not cause glare or
light trespass.
6. Luminaires that have a maximum output of one thousand lumens per fixture,
regardless of number of lamps (equal to one sixty [60] watt incandescent
light), may be partially shielded provided the bulb is not visible, and the
luminaire has an opaque top or is under an opaque structure utilizing frosted,
opalescent, or iridescent glass. Clear glass luminaires may be acceptable
provided the output is shielded through the architecture of the structure and
does not cause glare or light trespass beyond the property.
7. Temporary (2 days or less) high intensity discharge floodlighting may be used
for sports lighting and Town sponsored events provided that the lighting be
turned off no later than one hour after the event is concluded. The fixtures
must be aimed so that their beams are directed and fall within the primary
playing or performance area.
8. All permanent sports and event lighting shall be equipped with a glare control
package (louvers, shields, or similar devices) and the fixtures must be aimed
so that beams are directed and fall within the primary playing area and light
trespass is minimized.
15.30.050 Lighting Plan. An outdoor lighting plan shall accompany all design and
building permit applications and shall be submitted separately from other drawing
information. All lighting plans (except single family and duplex applications) shall be
subject to approval through the design review process by the Planning and Zoning
Commission. A user's guide with examples of compliant light fixtures is available in the
Community Development office.
Those projects not requiring design review by the Town shall be required to submit a
lighting plan that conforms to the standards outlined herein at the time of building permit
for new construction. The lighting plan and/or specifications shall show:
A. The type and luminous intensity of each light source and wattage (eg.
Incandescent, halogen, high-pressure sodium);
B. The type of fixture (eg. floodlight, full-cutoff, lantern, coach light);
C. Fixture location and height above of all proposed and existing light fixtures;
D. Shielding and all mounting details;
E. Manufacturer cut-sheet and/or specification materials with scaled drawings or
photographs including: initial lumen rating, color rendering index, and
wattage of each lamp;
F. Any other information deemed necessary by the Community Development
Inspector to document compliance with the provisions of this Chapter.
15.30.060 Violations. It is unlawful for any person to violate any provision or to fail
to comply with any of the requirements of this Chapter. If the Community Development
Inspector finds that any provision of this Chapter is being violated, the Community
Development Inspector shall give notice by certified mail, return receipt requested, of
such violation to the owner and/or to the occupant of such premises, requesting that the
violation be abated within sixty (60) days of the date of mailing of the notice.
The Community Development Department staff shall be available to assist in working
with the violator to correct said violation. If the violation is not abated within the sixty
(60) day period, the violator shall be punished by a fine of not more than one hundred
dollars for each and every day during which the violation of any provision of this Chapter
is committed, continued, or permitted.
15.030.70 Figures and Diagrams. The following figures illustrate examples of acceptable
and unacceptable types of outdoor lighting fixtures. Note that even those types of fixtures
shown as "acceptable;" must be installed and aimed properly to comply with this chapter.
f7RCCe )Fa ?lIt' ?fiC 7?:I ?7?C
i, . h.
1 ?
.
h
f
'
' Ff? •L-:I r,?+e II Ili ??v?:.td:
! Lu: au?i whi n,-.,j -,
r i .)
l:;I r.'ul VIII L'C ! ., L? :?-:'`?'i u_ y?im a •-??d;?ci h_•,t
FIovt; it it it tf'i to-rx;ci
Wall Packs
f
* Such fixture may be acceptable
using only low output lamps
?r
? i
Decorative _
,.
.„
!>? Opaque reflector
WT?
s
ii
` These fixtures may be acceptable if using a low wattage bulb.
Street Lighting
=Ar
,K t %
Parkin Lot Lighting
- ---------------
?I
INTRODUCED, APPROVED, PASSED ON FIRST READING AND
ORDERED POSTED the 26`h day of October, 2004, and a public hearing on this
ordinance shall be held at the regular meeting of the Town Council on the day of
, 2004, at 5:30 P.M. in the Council Chambers, Avon Municipal
Building, 400 Benchmark Road, Avon, Colorado.
Albert D. Reynolds, Mayor
ATTEST:
Patty McKenny, Town Clerk
INTRODUCED, FINALLY APPROVED, PASSED ON SECOND
READING AND ORDERED POSTED the day of 52004.
Albert D. Reynolds, Mayor
ATTEST:
Patty McKenny, Town Clerk
APPROVED AS TO FORM:
John W. Dunn, Town Attorney
0
TOWN OF AVON
PLANNING & ZONING COMMISSION
RESOLUTION NO. 04-14
SERIES OF 2004
A RESOLUTION RECOMMENDING APPROVAL OF CHAPTER 15.30 "OUTDOOR
LIGHTING ORDINANCE" TO THE TOWN COUNCIL
WHEREAS, Chapter 2.16 of The Avon Municipal Code establishes the purposes of the
Planning & Zoning Commission to assist the Town Council in preserving the natural
beauty of the Town and support the objectives of the existing Design Review Guidelines ;
and
. WHEREAS, the Planning & Zoning Commission realize that access to a clear and visible
night sky is a strong value to the community, and that light pollution continues to be a
threat to the clear skies that are a part of the heritage of the Rocky Mountain West; and
WHEREAS, all property in the Town of Avon should comply with the Town goals in the
preservation of the night sky, including those properties that currently emit an excessive
amount of light that has been determined to be a nuisance and detrimental to the policy
objectives stated herein; and
WHEREAS, the Planning and Zoning Commission have reviewed the attached Chanter
15.30 - Outdoor Li ting Ordinance ("Exhibit A"), and held numerous public meetings to
discuss the goals and objectives of the proposed amendment to the Town Code;
NOW, THEREFORE, BE IT RESOLVED, that the Planning and Zoning Commission
hereby recommends to the Town Council the approval of the Avon Municipal Code
• Section 15.30 - Outdoor Li tiny Ordinance ("Exhibit A") in order to amend the existing
Avon Municipal Code Section 15 as adopted.
F:Tlanning & Zoning CommissionlResolutions12004\Res 04-14 Lighting Ordinance Adoption.doc
ADOPTED THIS 18th DAY OF MAY, 2004 .
Signed
Date:
Chris Evans, Chair
Attest. `
: L? ?•J dxi-! ?- Date:
Terry Smith, Secretary
0 40
• •
F:Tlanning & Zoning ConnrrnissionlResolutions120041Res 04-14 Lighting Ordinance Adoption.doc 01
Memo
To: Planning and Zoning Commission
From: Tambi Katieb, Community Development
Matt Pielsticker, Community Development]
Date May 13, 2004
Re: Proposed Lighting Ordinance - Resolution No. 04-14
AVON
C O L O R A D O
Summary
At your May 0', 2004 Planning and Zoning Commission meeting we reviewed a final
draft lighting ordinance. This draft was in response to numerous discussions we
have had over the last several months, as well as a nighttime tour with members of
the public.
In response to the feedback received over the course of these meetings, as well as
at your last meeting, we are forwarding for your approval a revised ordinance that
has been amended as follows:
• Applicability. All outdoor lighting in Town must comply with the ordinance
within 3 years from adoption. There is no staggering between residential and
commercial (or mixed use) properties.
¦ Curfew. All commercial sign lighting and lighting not used for security or
safety purposes shall be turned off by 11:00 p.m. or no later than one hour
past the posted closing hours of a business.
¦ Temporary Event Lighting. Event lighting and temporary high intensity
floodlighting may be used provided that the lighting be turned off no later than
one hour after the event is concluded. Temporary lights do not have to be
equipped with shielding devices or glare packages.
• Permanent Sports Lighting. A section was added for permanent sports
lighting and requires glare control packages.
• Lighting Plans. Multifamily Projects (less than 3 units) must only submit a
lighting cut sheet to the Town to determine compliance. All other projects
must submit a lighting plan per the regulation.
Recommendation
Attached for your review is a complete Lighting Ordinance and draft "Users Guide".
Staff is recommending approval of Resolution No. 04-14, forwarding the proposed
ordinance to Town Council for final adoption.
Outdoor Lighting Ordinance (Chapter 15.30 Avon Town Code)
Resolution 04-14, Recommending Adoption to Town Council May 18, 2004 Page 1 of 2
n
r1
L.J
?v
• Recommended Motion
"I move to approve Resolution 04-14, recommending to Town Council the adoption
of Chapter 15.30 "Outdoor Lighting Ordinance" formally amending the Town Code"
Exhibits
A. Resolution 04-14.
B. Proposed Outdoor Lighting Ordinance, Chapter 15.30 (Exhibit "A" to Resolution
04-14.
C. Draft "Town of Avon Lighting Ordinance Users Guide"
0 is
Outdoor Lighting Ordinance (Chapter 15.30 Avon Town Code)
Resolution 04-14, Recommending Adoption to Town Council May 18, 2004 Page 2 of 2
• Exhibit "A" to Resolution 04-14 .
Chapter 15.30
OUTDOOR LIGHTING ORDINANCE
Sections:
15.30.010 Intent and Purpose
15.30.020 Applicability
15.30.030 Lighting Plan
15.30.040 Violations
15.30.080 Definitions
15.30.010 Intent and Purpose. The Town of Avon is experiencing a significant
increase in the use of exterior illumination. Town residents' value small town character
and the qualities associated with this character, including the ability to view the stars
against a dark sky. They recognize that inappropriate and poorly designed or installed
outdoor lighting causes unsafe and unpleasant conditions, limits their ability to enjoy the
nighttime sky, and results in unnecessary electricity use.
. This Chapter is intended to help maintain the health, safety, and welfare of the residents •
of Avon through the regulation of exterior lighting in order to:
A. Promote adequate light for safety and security;
B. Reduce light pollution, light trespass beyond property lines, and offensive light
sources;
C. Provide cost effective lighting and to conserve energy;
D. To prevent inappropriate and poorly designed or installed outdoor lighting;
E. To eliminate glare;
F. Eliminate the escalation of nighttime light pollution and to protect and reclaim the
ability to view the night sky.
1 5.30.020 Applicability. The lighting standards of this Chapter shall be applicable
to all exterior lighting within the Town of Avon. All exterior lighting installed after the
effective date of this Chapter shall conform to the standards established by this Chapter.
All existing lighting installed before the effective date of this Chapter shall be brought
into conformance with the Chapter within three (3) years from the date of adoption of this
Ordinance, or by June_, 2007.
15.30.020 General Outdoor Lighting Standards.
• The following lighting standards shall apply to all properties located within municipal •
boundaries:
• A. The style, color, and design of the fixtures shall be compatible with the overall design
concept and use of materials for the building, site and area of the lighting plan.
B. All lighting shall be shielded such that the source of illumination (bulb) is not visible
from the property line thereby reducing glare and interference with boundary streets
and adjacent properties. Light fixtures near adjacent property may require special
shielding devices to prevent light trespass.
C. All commercial sign lighting and lighting not used for safety purposes (including
interior lights) must be turned off by 11:00 p.m. or no later than one hour past the
posted closing hours.
D. All lighting (including, but not limited to street, parking lot, security, walkway and
building) shall conform with the Illuminating Engineering Society of North America
(IES) criteria for full cut-off fixtures with the light source downcast and fully
shielded, with the following exceptions:
1. Holiday lighting from November l" to March 15`h. Flashing lights on
residential properties are discouraged and holiday lights are encouraged to be
turned off by 11:00 p.m.
2. Sensor activated luminaries, provided:
a. It is located in such a manner as to prevent glare and lighting onto
properties of others or into the public right-of-way.
b. The luminaire is set to only go on when activated and to go off within •
five minutes after activation has ceased.
c. The luminaire shall not be triggered by activity off the property.
3. All temporary emergency lighting needed by the Fire and Police Departments,
or other emergency agencies.
4. Floodlights with external shielding shall be angled provided that no light is
directed above a twenty-five (25) degree angle measure from the vertical line
from the center of the light extended to the ground, and only if the luminaire
does not cause glare or light to shine on adjacent property or public rights-of-
way. (See Figure 2)
5. Uplighting for flags provided the luminaire is located, aimed, and shielded so
that direct illumination is focused exclusively on the flag and away from
adjoining properties and the public street right-of-way.
i. Luminaires that have a maximum output of one thousand lumens per fixture,
regardless of number of lamps (equal to one sixty [60] watt incandescent
light), may be partially shielded provided the bulb is not visible, and the
luminaire has an opaque top or is under an opaque structure utilizing frosted,
opalescent, or iridescent glass. (See Figure 3)
7. Temporary (2 days or less) high intensity discharge floodlighting may be used
. for sports lighting and Town sponsored events provided that the lighting be •
turned off no later than one hour after the event is concluded. The fixtures
,G?
.7
9. Municipal lighting installed for the benefit of public health, safety, and
welfare including but not limited to traffic control devices and construction
lighting.
must be aimed so that their beams are directed and fall within the primary
playing or performance area.
8. All permanent sports lighting shall be equipped with a glare control package
(louvers, shields, or similar devices) and the fixtures must be aimed so that
beams are directed and fall within the primary playing area and light trespass
is minimized.
•
15.30.030 Lighting Plan An outdoor lighting plan shall accompany all design and
building permit applications (except single family and duplex applications) shall be
submitted separately from other drawing information. All lighting plans shall be subject
to approval through the design review process by the Planning and Zoning Commission.
A user's guide with examples of compliant light fixtures is available in the Community
Development office.
•
Those projects not requiring design review by the Town shall be required to submit a
lighting plan that conforms to the standards outlined herein at the time of building permit
for new construction. The lighting plans and/or specifications shall show:
1. The type and luminous intensity of each light source and wattage (eg.
Incandescent, halogen, high-pressure sodium);
2. The type of fixture (eg. floodlight, full-cutoff, lantern, coach light);
3. Fixture location and height above of all proposed and existing light fixtures;
4. Shielding and all mounting details;
5. Manufacturer cut-sheet and/or specification materials with scaled drawings or
photographs including: initial lumen rating, color rendering index, and
wattage of each lamp;
6. Any other information deemed necessary by the Community Development
Inspector to document compliance with the provisions of this Chapter.
15.30.040 Violations. It is unlawful for any person to violate any provision or to fail
to comply with any of the requirements of this title. If the Community Development
Inspector finds that any provision of this Chapter is being violated, the Community
Development Inspector shall give notice by certified mail, return receipt requested, of
such violation to the owner and/or to the occupant of such premises, requesting that the
violation be abated within sixty, (60) days of the date of mailing of the notice.
The Community Development Department staff shall be available to assist in working
with the violator to correct said violation. If the violation is not abated within the sixty
. (60) day period, the violator shall be punished by a fine of not more than one hundred
dollars for each and every day during which the violation of any provision of this Chapter
is committed, continued, or permitted.
CJ
•
\V
15.30.080 Definitions.
Exterior Lighting. Temporary or permanent lighting that is installed, located or used in
such a mariner to cause light rays to shine outdoors. Luminaires that are indoors that are
intended to light something outside are considered exterior lighting.
Fixture Height. Vertical distance from the ground directly below the centerline of the
fixture to the lowest direct light emitting part of the fixture.
Full cut-off fixture. A fixture designed and installed where no light is emitted at or above
a horizontal plane running through the lowest point on the fixture as defined by the
Illuminating Engineering Society of North America's (IES) criteria.
Fully shielded. The luminaire incorporates a solid barrier (the shield), which permits no
light to escape through the barrier.
Glare. Stray, unshielded light striking the eye that may result in (a) nuisance or
annoyance glare such as light shining into a window; (b) discomfort glare such as bright
light causing squinting of the eyes; (c) disabling glare such as bright light reducing the
ability of the eyes to see into shadows or (d) reduction of visual performance.
• Light Pollution. Any adverse effect of manmade light including, but not limited to, •
discomfort to the eye or diminished vision due to glare, light trespass, uplighting, the
uncomfortable distraction to the eye, or any manmade light that diminishes the ability to
view the night sky.
Light Source. The element of a lighting fixture that is the point of origin of the lumens
emitted by the fixture. Also referred to as `bulb.'
Light Trespass. Light falling on the property of another or the public right-of-way when
it is not required to do so.
n
Figure 1
What is a True FuII Cutoff Outdoor Lighting Fixture?
Yes
Yes `
Flat glass lens, eliminates or minimizes direct glare, no upward throw of light. The housing for
these fixtures are available in many styles.
• Yes
No
•
Same fixture as above mounted incorrectly - defeating the horizontal mounting design. The fixture
now produces direct Blare. and can also produce unlieht at steeper mountine aneles.
No
E
Known as just "Cutoff" Center "drop" or "sag" lens with or without exposed bulb, produces direct glare.
No No ----n n
4
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Figure 3
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A IN R V ,V0 ?/i
o , o R A p o Town of Avon Lighting Ordinance User's Guide
In June of 2004 the Town of Avon passed a Lighting Ordinance that
applies to all exterior lighting in the Town. The goal of the Ordinance
is to promote adequate light for safety and security while reducing
light pollution and glare experienced from poorly designed and
installed light fixtures.
All outdoor light fixtures must comply with the Ordinance by June of
2007. This includes the replacement of existing outdoor fixtures that
do not comply with the requirements.
Nearly all manufacturers have products that comply and products that
are non-compliant in regards to light pollution. This guide will be
updated periodically in order to offer a variety of compliant light
fixtures to the residents and businesses of Avon.
The following light fixtures are considered "full-cutoff" and compliant
with Avon's Lighting Ordinance.
WAN mounted with light bulb fully recessed
style full
full Cutoff Shaped acance
•
•
AQ
umra =&Wr parent oesipn cutoff
E
D
C
Compliant "Full Cutoff" fixtures (cont'd)
Fixtures that have a maximum output of 1,000 lumens (equal to one
[60] watt incandescent light), may be partially shielded provided the
bulb is not visible, and the luminaire has an opaque top or is under an
opaque structure utilizing frosted, opalescent, or iridescent glass.
The following light fixtures are "partially shielded" and would comply
with the Ordinance only with a bulb output of less than 1,000 lumens.
1?
4
•
E
WOJrXVWlsa, ??W?dU y?
Acceptable partially shielded fixtures (cont'd)
Pt
wm opB/6uC f gim
rnnmny srimmmu nwn upamscm gim
Wa# mm"od with t"vrod glass
The following examples are compliant with the Ordinance and may be
used for commercial, security or parking lot lighting.
cutoff parking light
•
Full cut off ' Waq par MM more side spread
Fuly recessed canopy fixture
4)
.l
Floodliahts i
With external shielding, floodlights are permitted in Town provided
that no light is directed above a twenty-five (25) degree angle and
only if the fixture does not cause glare or light to shine on adjacent
properties or public rights-of-way. (See Figure 2)
2V
angle
wnh acceptable angle
The following light fixture examples DO NOT comply with the Town
Lighting Ordinance:
'i
1
Globe A* NOT pa?t Aa shJe_1dMr
C7
I
C
No ip llglrtrng Is permitted (except for flag lighting)
Impropedy aimed high output
C
"Well pack" design with visible bulb
Prior to the retrofitting of any current non-compliant light fixtures, it is
highly recommended that contact be made with the Community
Development Department. A lighting cut sheet is required in order to
determine if conformity with the Ordinance is possible.
This user's guide is not an endorsement of any manufacturer or any product by the Town of Awn. It is simply a guide to i
illustrate that there are a number of styles of lighting that are compliant with Avon's Lighting Ordinance.
Sources include: www.darksky.orgffixturWres.htrnl, www.homedepot.com, www.seaguillighting.com,
www.kichliYr.com/kichiercatalog.jsp, www.regentlighting.com
Bible bulb and dear glass
Clear grass MM exposed bums
MINUTES OF THE REGULAR MEETING OF THE AVON TOWN COUNCIL
HELD OCOTBER 12, 2004
A regular meeting of the Town of Avon, Colorado was held at 400 Benchmark Road, Avon,
Colorado in the Council Chambers.
Mayor Buz Reynolds called the meeting to order at 5:30 PM. A roll call was taken and Council
members present were Michael Brown, Debbie Buckley, Peter Buckley, Mac McDevitt, Brian
Sipes and Ron Wolfe. Also present were Town Manager Larry Brooks, Town Attorney John
Dunn, Assistant Town Manager Jacquie Halburnt, Town Clerk Patty McKenny, Community
Development Director Tambi Katieb, Finance Director Scott Wright, Police Chief Jeff Layman,
Town Engineer Norm Wood and Public Works / Transit Director Bob Reed as well as members
of the press and public.
Citizen Input
Mayor Reyonlds introduced Dominic Mauriello as presenting the first item of business regarding
a request to review the current policy of the duplex" zoning designation, as it exists in the
Wildridge PUD. Councilor Wolfe asked the Town Attorney if this topic was appropriate for
Council consideration and discussion at this time and was whether it was appropriate for
Council to be giving an opinion on the topic. Attorney Dunn responded by stating that the
discussion should focus only on "concepts" not specifics on any potential application and asked
Mr. Mauriello to present only the concepts of the discussion, i.e. the resolution approved in 1991
and the reasons why he favors repealing it. He was asked not to discuss the applicant or
anything related to the potential application. The concern was over the definition of "duplex',
and the general consensus about requesting a PUD amendment to further resubdivide a duplex
lot and construct two single-family homes on lots currently zoned duplex in the Wildridge PUD.
He outlined some criteria to include in a possibly revised resolution addressing the topic as well
as the suggestions to the "applicability" of the criteria. Planning & Zoning Chairman Chris
Evans spoke on the topic expressing concern about setting any precedents that might
encourage others to come in with this same request. Discussion ensued about whether or not
Council would like to direct Planning & Zoning Commission to either develop criteria addressing
the topic or validate the existing Resolution. After some further discussion a quick poll was
taken of who wanted to forward the research to P&Z; overall Council was not in favor of either
sending it to P&Z or overturning this Resolution.
Jay Fetcher, candidate for State Senator, introduced himself to the Council.
Amy Phillips, Avon Council candidate, presented some information and thoughts on the
question of marketing for Avon, special events, and lodging.
Ordinances
Town Attorney John Dunn presented Ordinance No. 04 - 16, Series of 2004, on first reading,
An Ordinance Amending Section 2.08.040, Avon Municipal Code, Relating to the Jurisdiction of
the Municipal Court. He noted that this was housekeeping legislation addressing a decision of
the Colorado Supreme Court made earlier this year regarding municipal court and the
appropriate venues for zoning appeals. He further explained that the "thinking" of the municipal
attorneys is that the municipal court is not the appropriate venue for zoning cases and that,
because there is an appeal from decisions of the municipal court to the district court, the effect
is to add an unnecessary step to the process. Some discussion ensued about whether or not a
future Charter amendment should be made. Councilor P. Buckley moved to approve Ordinance
No. 04-16, Series of 2004, on first reading, An Ordinance Amending Section 2.08.040, Avon
Municipal Code, Relating to the Jurisdiction of the Municipal Court. Councilor Wolfe seconded
the motion and it passed unanimously with a roll call vote.
Town Attorney John Dunn presented Ordinance No. 04-17, Series of 2004, on first reading, An
Ordinance Approving The Third Amendment (The "Third Amendment") To The Annexation And
Development Agreement For The Village (At Avon) Dated As Of October 13, 1998, And
Recorded On November 25, 1998, At Reception No. 677743, As Amended By The First
Amendment To Annexation And Development Agreement Dated As Of November 13, 2001,
And Recorded On December 12, 2001, At Reception No. 779049, And The Second Amendment
To Annexation And Development Agreement Dated As Of May 27, 2003, And Recorded On July
30, 2003, At Reception No. 842248 (As So Amended, The "Development Agreement"); And
Authorizing And Instructing The Mayor Of The Town To Sign The Third Amendment On Behalf
Of The Town. He noted that the agreement addresses two items; firstly it corrects the method
of computing the cost of police services and agrees to a new formula that reflects the original
intent of the parties that the Village pay for the actual cost of police services provided to it. The
agreement takes effect July 1, 2004 and monies paid in 2004 would be half of the $200K and in
2005 are estimated at $212K. The second item included in the agreement is the deferment of
the construction of the improvements on East Beaver Creek Blvd from 2005 to completion in
2009 This arrangement was made due to the manner in which the development of the Village
has occurred thus far, with more construction taking place on the east side of the Village district.
The 2005 budget did include payment of the municipal services invoice. Councilor P. Buckley
moved to approve Ordinance No. 04-17, Series of 2004, on first reading, An Ordinance
Approving The Third Amendment (The "Third Amendment") To The Annexation And
Development Agreement For The Village (At Avon). Councilor Wolfe seconded the motion and
it passed unanimously with a roll call vote.
Resolutions
Town Engineer Norm Wood presented Resolution No. 04-35, Series of 2004, a Resolution
approving an Intergovernmental Agreement between the Town of Avon and the Eagle River Fire
Protection District for the Purpose of Coordinating the Implementation and Administration of the
2003 Edition of the International Fire Code. He noted that this Agreement maintains the
coordination between the Town and the District for the effective administration of the
International Fire Code. Councilor D. Buckley moved to approve Resolution No. 04-35, Series
of 2004, a Resolution approving an Intergovernmental Agreement between the Town of Avon
and the Eagle River Fire Protection District. Councilor Brown seconded the motion and it
passed unanimously with a roll call vote.
Other Business
Mayor Pro Tem McDevitt recognized an anniversary date related to the "odor" problem that
occurred in Avon for a period of time. He commended both Eagle River Water and Sanitation
District staff and the Town of Avon for their efforts in resolving this problem and noted that there
had not been any reported odor related incidents over the past year.
Town Manager Report
Town Manager Larry Brooks mentioned that the Bachelor Gulch Metro District had approved the
long-term services agreement with the Town of Avon, and Council had approved that
agreement in May 2004. He also noted the dates he would be attending the ICMA conference.
He also noted that an 1-70 Coaltion meeting would be held on Thursday and he would attend.
Regular Council Meeting Page 2 of 3
October 12, 2004
Consent Agenda
Mayor Reynolds asked for a motion on the Consent Agenda. Councilor Sipes moved to adopt
the consent agenda; Councilor D. Buckley seconded the motion and it passed unanimously.
a. Approval of the September 28, 2004 Regular Council Meeting Minutes
b. Metcalf Storm Drainage Project, Change Order No. 1 - Extend project across Lot 22 to Metcalf
Road
c. Cost Share Agreement for Extension of Metcalf Drainage Project across Lot 22, Block 2,
Benchmark at Beaver Creek (0077 Metcalf Road)
d. Restated and Amended Intergovernmental Agreement for Transportation Services
There being no further business to come before the Council, the meeting adjourned at 6:20 PM.
RESPECTFULLY SUBMITTED:
Patty McKenny, Town Clerk
APPROVED:
Michael Brown
Debbie Buckley
Peter Buckley
Mac McDevitt
Buz Reynolds
Brian Sipes
Ron Wolfe
Regular Council Meeting
October 12, 2004
Page 3 of 3
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norman Wood, Town Engineer
Date: October 20, 2004
Re: Colorado River Water Conservation District - Application for Eagle River Water
Supply Contract - 20 Ac-Ft
Summary: The attached Colorado River Water Conservation District
Memorandum by Dave Merritt was recently posted on their Web Site. It indicates the District
is finalizing an Agreement for the acquisition of 500 ac-ft of Homestake Reservoir supplies.
Subsequently, we were able to discuss this with Dave Merritt following his Water Wise
Wednesday presentation. This water will be available in the form of a 40-year lease with a
35-year renewal. Payment can be made in the form of annual payments of $513/ac-ft/year or
an Up-Front Payment of $6,700/ac-ft plus an annual O&M Fee. The O&M fee is currently
$51.00/ac-ft/year and is adjusted every 5-years based on the CPI. We were advised that we
could file an Application for up to 20 Ac-Ft of water from this source.
We have completed a Water Rights/Development Analysis with projected development
ranging from 3114 SFE's (Single Family Equivalents) to 5167 SFE's. These development
scenarios were then used to project water right demands for comparison with available water
rights. This analysis is summarized in Table 1.
1:Tngineenng\WaterAWater Rights\CRWCD Application\Application Memo-2.Doc
TABLE 1
1 2 3 4 5
Supply
Projected Water Water per Contingency
Development Required Available Demand
(3/2) (3-2)
SFE's Ac-Ft Ac-Ft % Ac-Ft
3114 216.22 386.03 179 169.81
4139 287.39 386.03 134 98.64
4513 313.36 386.03 123 72.67
4793 332.80 386.03 116 53.23
5167 358.77 386.03 108 27.26
THIS table indicates that the Town's 448 ac-ft of available water rights will not provide 40
Ac-Ft for refilling Nottingham Lake and provide the required consumption for 5167 SFE's.
An additional 20 ac-ft of available water would provide this cushion. We believe it would be
very prudent to add 20 ac-ft of Eagle River Water to our current rights to maintain as
insurance to potential development changes.
Les Botham, our water engineer, has prepared the attached Application for an Eagle River
Water Contract with the District for 20 ac-ft. with the Up-Front Payment Option of $6,700/ac-
ft/year. This Application is based on the lease beginning in July 2005 with payment due on or
before April 1, 2005. The Up-Front Lease Payment would be $ 134,000 with an annual
O&M Fee of $ 1,020. The latest Drafts of the CIP Budget and Water Fund Budget have been
revised to reflect this acquisition in 2005. The Filing Fee that must be submitted with this
Application is $ 250.00.
We recommend that Council approve and authorize the filing of this Application for Water
Supply Contract with the Colorado River Conservation District for a Conventional Full Term
(40 + 35 year renewal) Eagle River Water Contract for 20 ac-ft with an Up-Front Payment of
$6,700 / ac-ft plus annual O&M Fee (currently $51.00/ac-ft/year).
• Page 2
7_
Recommendation: Approve and authorize the filing of an Application
for Water Supply Contract with the Colorado River Conservation District for a Conventional
Full Term (40 + 35 year renewal) Eagle River Water Contract for 20 ac-ft with an Up-Front
Payment of $6,700 / ac-ft plus annual O&M Fee (currently $51.00/ac-ft/year).
Proposed Motion: I move to approve and authorize the filing of an
Application for Water Supply Contract with the Colorado River Conservation District for a
Conventional Full Term (40 + 35 year renewal) Eagle River Water Contract for 20 ac-ft with
an Up-Front Payment of $6,700 / ac-ft plus annual O&M Fee (currently $51.00/ac-ft/year).
Town Manager Comments:
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• Page 3
,h
T COLOR, ;` r-, R IV R 'JE/ATLR
' C 0 N S RVA-FIODISTRICT
MEMORANDUM
OCTOBER 9, 2004
TO: BOARD OF DIRECTORS
FROM: DAVE MERRITT
RE: WATER PROJECTS ENTERPRISE - EAGLE RIVER OPERATIONS
Eagle Park Reservoir filled to near capacity(2,926 acre feet) on July 12th of this year, and
made some limited augmentation releases. With snowmaking coming on soon, these releases are
likely to increase. We were able to make our exchange repayment to Homestake Reservoir from
Wolford Mountain in the amount of 778 acre feet; however, we are having difficulty with the USBR
in using the Vail Resorts and Upper Eagle Regional Water Authority contracts for the repayment
this year. Because we have to stayed ahead of the "payback" to the Homestake Partners the last few
years, the USBR is now interpreting this as facilitating a "carryover" of Green Mountain Reservoir
contract water, which is not allowed under the contracting provisions. This problem, as well as the
"accounting issue" which we have with Colorado Springs, continue to require us to place a hold on
issuing any contracts for the additional Homestake Reservoir water.
Eagle Park Reservoir went into last fall full at 3148 acre feet, and released 946 acre feet
to replace Eagle River depletions. These releases allowed the snowmaking and associated uses in
the Vail to Edwards area to continue without impacting the instream flow of Gore Creek and the
Eagle River at this critical time of the year, both for the stream and for the area economy.
To date, the District has issued 40 contracts for Eagle River supplies in the amount of 249
acre feet, and we 5 contracts pending for 33 acre feet. Eagle County exercised their option, under
the original MOA, to purchase full ownership of 50 acre feet of Eagle Park Reservoir supplies Eagle
County, they then assigned 24 acre feet to the Upper Eagle Regional Water Authority for an Eagle
County project requiring water supply, and we are now going through the process to transfer the
remaining shares back to the Enterprise as a holding entity. In this manner, Eagle County will not
be a shareholder in the EPRC when it comes to the County for 1041 permitting issues surrounding
Suite #200 * 201 Centennial Street / PO Sox 1120 Glenwood Springs, Colorado 81602
(970) 945-8522 * (970) 945-8799
LA
the development of additional supplies.
This will likely be soon, as Climax has indicated that they wish to either proceed with the
development of the 6 cfs East Fork Pumpback (thereby regaining their full use of the Arkansas) or
pay the EPRC the estimated cost of that facility. EPRC would then proceed to re-permit and
construct a 15 cfs East Fork pumpback. It is expected that this activity will proceed in 2005/2006.
We have completed the agreements with Aurora for the additional 500 acre feet of
Homestake Reservoir supplies, but have run into a disagreement with Colorado Springs on the
manner of exchange payback on these supplies. Hopefully, this will be resolved this fall, and we
can proceed with marketing this water. Although the Board accepted the staff recommendation in
July to only initially release 30 acre feet of our 125 for marketing, we currently have 33 acre feet
of contract requests pending. We are recommending that the Board increase this to 50 acre feet.
RECOMMENDED BOARD ACTION. Direct the staff to market up to 50 acre feet from the
125 acre feet of 2004 MOU water supplies upon resolution of the repayment exchange
accounting issues.
6
APPLICATION FOR WATER SUPPLY CONTRACT
COLORADO RIVER WATER PROJECTS ENTERPRISE
OF THE
COLORADO RIVER WATER CONSERVATION DISTRICT
P.O. BOX 1120
GLENWOOD SPRINGS, COLORADO 81602
Phone (970) 945-8522
Fax (970) 945-8799
APPLICANT:
(The actual name, title & address of authorized person executing Water Supply Contract, not that of counsel, etc):
NAME: Norman Wood TITLE: Town Engineer
COMPANY: Town of Avon
STREET: P.O. Box 975
CITY: Town of Avon ZIP CODE: 81620 PHONE:
FAX: (970) 748-4045
(970) 949-5749
AGENT (If any-water consultant/engineer, attorney, etc.):
NAME: Les Botham TITLE: P.E.
COMPANY: Leonard Rice Engineers, Inc.
STREET: 2000 Clay Street, Suite 300
CITY: Denver ZIP CODE: 80211-
5171 I PHONE-]
FAX. (303) 455-
9589 (303)
POINT OF DELIVERY:
NAME OF STRUCTURE: Avon Municipal Water System (W-3666, 81CW217, 86CW200) & Bemchmark Lake (W-
PRIORITY DATE: Apprpriated 8/31/1974 AMOUNT: 4.0 CFS absolute, 1.0 CFs conditional
STREAM: z gle River SURFACE DIVERSIONS (if applicable): Yes
GROUNDWATER DIVERSIONS (if applicable): No
FOR USE BY (Check one) DIRECT DELIVERY: EXCHANGE: AUGMENTATION: X
WILL THE WATER BE USED IN AN AUGMENTATION PLAN? Y: Yes N:
IF YES, IS THE AUGMENTATION PLAN (Check one):
X DECREED
(Attach Copy of Decree) PENDING
(Attach Copy of Water Court Application)* FUTURE
FILING"
ARE THERE RETURN FLOWS ASSOCIATED WITH THIS DEMAND? Y: Yes N:
LOCATION OF THE RETURN FLOWS: Wastewater Treatment Plants at Avon and Sqaw Creek
ATTACH A DETAILED DESCRIPTION OF THE PROPOSED USE OF THIS WATER
Nee I of 3
CONTRACT WATER REQUESTED
COLORADO RIVER WATER CONTRACTS
Conventional Full Term (40 +35 year renewal) Short-Term (I - 5 years)
M&I Water ($I25 a.f./yr) Interim Agricultural ($25 a.f./yr.) # ofyrs
Interim M&I Water ($75 a
f
/yr
) # of yrs
Agricultural Water ($125 a
f/yr) .
.
.
. Out-of-Basin Water ($500 a.f./yr.) # of yrs
Payment Options:
Annual Payment Option
(see pricing above Up-Front Payment Option
($900 a.f. + O&M fee)
TOTAL AMOUNT REQUESTED (Must be rounded off in 1/I Oth a.f units): A.F.
Delivery Schedule:
JANUARY: A.F. JULY: A.F.
FEBRUARY: A.F. AUGUST: A.F.
MARCH: A.F. SEPTEMBER: A.F.
APRIL: A.F. OCTOBER. A.F.
MAY: A.F. NOVEMBER: A.F.
JUNE: A.F. DECEMBER A.F.
EAGLE RIVER WATER CONTRACTS
(Limited Supply-Inquire First)
Conventional Full Term (40 +35 year renewal) Short-Term (1 - 5 years)
20Ac
Ft M&I Water ($5I3 a.f./yr) Interim M&I Water ($400 a.f/yr.) # of yrs
Payment Options:
Annual Payment Option
(see pricing above) Yes Up-Front Payment Option
($6,700 a.f. + annual O&M fee)
TOTAL AMOUNT REQUESTED (Must be rounded off in 1 /I Oth a.f units): A.F.
Delivery Schedule:
JANUARY: 3.0 A.F. JULY: 0 A.F.
FEBRUARY: 3.2 A.F. AUGUST: 0 A.F.
MARCH: 3.5 A.F. SEPTEMBER: 0 A.F.
APRIL: 3.3 A.F. OCTOBER: 0 A.F.
MAY: A.F. NOVEMBER: 3.4 A.F.
Page 2 of 3
I JUNE: 2006 A.F. DECEMBER 3.5 A.F.
COMMENCEMENT DATE OF DELIVERY (Check one):
Current Project Year (July 2004-June 2005)
(Payment due upon execution of contract) Month:
X Next Project Year (July 2005-June 2006)
(Payment due on or before April 1, 2005) Month: July 2005
AMOUNT REMITTED:
Application Fee: $250.00 X Other Fees. Total: $250.00
The District may require further information to be submitted to process this application. If the use of
this water is determined by an applicable Federal agency to require site-specific compliance with the
National Environmental Policy Act (NEPA), that compliance will be the responsibility of the
Applicant. Applicant is responsible for consulting with the Army Corp of Engineers regarding the
need to comply with Section 404 of the Clean Water Act as the result of the construction of any
facilities necessary to use the contract water.
The Applicant hereby acknowledges receipt of the Water Marketing Policy of the Colorado River
Water Conservation District's Colorado River Water Projects Enterprise, dated April 15, 2003
(Policy).
*Pursuant to the Policy, the Enterprise will oppose Water Court applications that propose use of the
Enterprise's water supplies without the existence of a current Water Supply Contract or are otherwise
at variance with the Policy. If the Applicant has filed a Water Court application without having
executed a Water Supply Contract and the Enterprise has opposed that application, the water supply
contract application fee is $500.00.
**Applicants are advised to identify Wolford Mountain Reservoir and Ruedi Reservoir in all
applications and/or decrees relying on the Enterprise's Colorado River Supply or Eagle River Supply.
APPLICANT:
SIGNED:
TITLE:
DATE:
Paae 3 of 3 a
Detailed Description of the Proposed Use of this Water
This water will be used for one of two purposes. The main purpose will be to supplement the
augmentation water that the Town of Avon (Avon) has by virtue of its change case W-3664, and
its augmentation plans, W-3664, 84CW225, 95CW348, and 99CW1721. Municipal diversions
are made under Avon's Avon Municipal Water System water right (4.0 CFS absolute, 1.0 CFS
conditional) at two locations.
• The Upper Eagle Regional Water Authority (Authority) diverts the majority of Avon's
municipal water at the headgate of the Metcalf Ditch. The Authority also diverts
municipal water at that location for other entities.
• Avon, also diverts water under its Avon Municipal Water System water right out of its
Benchmark (a.k.a. Nottingham) Lake, which is filled from the Eagle River via the
Metcalf Ditch. That water is used for irrigation around the lake and in the general area.
Presently, the Authority operates Avon's augmentation plans (84CW225, 95CW348 and
99CW 172). These plans include direct use of Avon's changed irrigation credits during the
irrigation season, exchange into upstream storage (in Eagle Park Reservoir) of changed excess
irrigation-season irrigation credits, and release from storage to cover non-irrigation season
augmentation requirements. The existing augmentation plans commit a total of 348.17 acre feet
out of the total of 448 acre feet of available credits. This is adequate for Avon's existing level of
development, and for the near future. As Avon grows in the future, more of the surplus 98.83
acre feet of augmenting credits may be required. Avon desires this contract for 20 acre feet from
the River District to supplement and provide a degree of cushion for augmenting its future
growth.
The pattern for release of the 20 acre feet follows the pattern of release out of Eagle Park
Reservoir, when it will be used as an additional source of augmentation water.
The second way the water will be used is to fill or "refresh" Benchmark Lake, a.k.a. Nottingham
Reservoir. The lake is filled primarily from the Eagle River via the Nottingham Ditch. Avon
may call for the water in the same pattern as when used for augmentation, or in some other
pattern yet to be determined.
' Case No. W-3666 is Avon's original change case and augmentation plan. It quantified the historical irrigation
consumptive use credits (448 acre feet per year), established Benchmark Lake as the augmentation storage facility,
and committed a total 244.3 acre feet to the augmentation plan. Case 84CW225 expanded the augmentation plan, to
include a total of 282.83 acre feet. The Authority filed Case No. 95CW348, which moved the augmentation storage
component of Avon's augmentation from Benchmark Lake to the Eagle Park Reservoir, and committed another 51.3
acre feet of augmentation credits (bringing the total to 334.13 acre feet). Avon filed Case No. 99CW172, which
clarified the history and operation of its augmentation plans, and committed another 14.04 acre feet of credits
(bringing the total to 347-8.17 acre feet).
Memo
To: Honorable Mayor and Town Council
Thru: Larry Brooks, Town Manager
From: Norman Wood, Town Engineer
Anne Martens, Assistant Town ngineer
Date: October 21, 2004
Re: Resolution No. 04 - 39, Approving the Final Plat, A Resubdivision of Tract A, Lots
1,2,3,4,5 and Part of Lot 6, McGrady Acres, and Part of Lots 1 and 2, Nottingham
Cottages PUD and Part of (Corrected) Final Plat - Condominium Map Sun River
Condominiums, A Parcel of Land in Sec. 7, T5S, R81 W, 6th P.M., Town of Avon,
Eagle County, Colorado (Post Boulevard and Nottingham Ranch Road)
Summary: Traer Creek Metropolitan District, owner's of Tract A, Lots 1, 2, 3, 4, 5 and A
Part of Lot 6, McGrady Acres, and Part of Lots 1 and 2, Nottingham Cottages PUD and Part
of (Corrected) Final Plat - Condominium Map Sun River Condominiums, have submitted a
Final Plat to resubdivide the Public Right-of-Way for Post Boulevard and Nottingham Ranch
Road. Nottingham Ranch Road will be dedicated to the Town of Avon at this time. This is a
minor subdivision. The Subdivision is in conformance with the Title 16 of the Avon Municipal
Code, Subdivisions.
Recommendations: Staff recommends approval of Resolution No. 04 - 39, Series
of 2004, A Resolution Approving the Final Plat, a Resubdivision of Tract A, Lots 1, 2, 3, 4, 5
and Part of Lot 6, McGrady Acres, and Part of Lots 1 and 2, Nottingham Cottages PUD and
Part of (Corrected) Final Plat - Condominium Map Sun River Condominiums, A Parcel of
Lane in Sec. 7, T5S, R81W, 6th P.M., Town of Avon, Eagle County, Colorado, subject to
completion of technical corrections to be approved by staff.
Town Manager Comments:
V
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TOWN OF AVON
RESOLUTION NO. 04 - 39
Series of 2004
A RESOLUTION APPROVING THE FINAL PLAT, A RESUBDIVISION OF TRACT A,
LOTS 1, 2, 3, 4, 5 AND PART OF LOT 6, McGRADY ACRES, AND A PART OF LOTS I
AND 2, NOTTINGHAM COTTAGES PUD, AND PART OF (CORRECTED) FINAL
PLAT - CONDOMINIUM MAP SUN RIVER CONDOMINIUMS, A PARCEL OF LAND
IN SEC. 7, T 5 S, R 81 W, 6T" P.M., TOWN OF AVON, EAGLE COUNTY, COLORADO.
WHEREAS, Traer Creek Metropolitan District has submitted a Final Plat for a Resubdivision of
Tract A, Lots 1, 2, 3, 4, 5, and Part of Lot 6, McGrady Acres, and A Part of Lots 1 and 2,
Nottingham Cottages PUD, and Part of (Corrected) Final Plat - Condominium Map Sun River
Condominiums, A Parcel of Land in Sec. 7, T 5 S, R 81 W, 6TH P.M., Town of Avon, Eagle
County, Colorado; and
WHEREAS, the Final Plat has been reviewed by the Town Staff; and
WHEREAS, the Final Plat was found to be substantially in conformance with Title 16 of the
Avon Municipal Code; and
WHEREAS, the proposed subdivision complies with the requirements for consideration as a
Final Plat.
NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, that the Final Plat for A Resubdivision of Tract A, Lots 1, 2, 3, 4, 5, and Part of Lot
6, McGrady Acres, and A Part of Lots 1 and 2, Nottingham Cottages PUD, and Part of
(Corrected) Final Plat - Condominium Map Sun River Condominiums, A Parcel of Land in Sec.
7, T 5 S, R 81 W, 6TH P.M., Town of Avon, Eagle County, Colorado, is hereby approved by the
Town of Avon subject to:
The completion of technical corrections as identified by Town Staff.
ADOPTED THIS
DAY OF
, 2004.
TOWN COUNCIL
TOWN OF AVON, COLORADO
Albert D. Reynolds, Mayor
ATTEST:
Patty McKenny
Town Clerk
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