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TC Council Packet 11-09-2004STATE 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 NOVEMBER 9, 2004, AT 4:15 P.M. IN THE MUNICIPAL BUILDING, 400 BENCHMARK ROAD, AVON, COLORADO FOR THE PURPOSE OF DISCUSSING AND CONSIDERING THE FOLLOWING: 4:15 PM - 5:00 PM 1) Council Committee Updates - Council members are assigned to several committees and update their progress. Open Space Discussion (Councilor Wolfe) Water Update (Councilor D. Buckley) 5:00 PM - 5:20 PM 2) Staff Updates a. Community Development Updates (iambi Katieb) - updates on carwash, comprehensive plan, building community meeting b. Banner on Railroad Bridge (Bob Reed) - Town of Avon banner from railroad bridge Consent Agenda Questions Council Committee Updates 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 NOVEMBER 5, 2004: ? AVON MUNICIPAL BUILDING, MAIN LOBBY ? ALPINE BANK, MAIN LOBBY ? AVON RECREATION CENTER, MAIN LOBBY ? CITY MARKET, MAIN LOBBY ?Vlemo To: Honorable Mayor and Town Council From: Councilor D. Buckley Thru: Patty McKenny, Town Clerk Date: November 2, 2004 Re: Attachment Summary: Debbie asked me to distribute this information to you for her discussion under Council Committee Updates. E C] Porzak Browning & Bushong LLP Attorneys•at•Law 929 Pearl Street, Suite 300 Boulder, CO 80302 303 443-6800 Fax 303 443-6864 Vail Office: 846 Forest Road Vail, CO 81657 970-477-5419 Fax 970-477-5429 MEMORANDUM TO: Upper Eagle Regional Water Authority FROM: Glenn E. Porzak and Fritz Holleman DATE: October 27, 2004 RE: Colorado River Compact Call With a series of drought and below average water years, and dropping water levels in Lake Powell, there has recently been greater concern about the possibility of a "call" by California and the other Lower Basin States under the 1922 Colorado River Compact ("Compact'). This memo gives a short overview of the important provisions of the Compact and the 1948 Upper Colorado River Compact. It then identifies a short list of some of the most important unresolved questions that a Compact call would raise. There are many such questions. John Leshy, Former Solicitor for the Department of the Interior, was recently quoted: If there is a compact call, we really are in no man's land.... If there can't be some sort of settlement patched together, we're looking at horrendous litigation. Despite the many questions that a Compact call would raise, it is reasonably safe to assume for the Authority's planning purposes that only rights junior to June 25, 1929, the effective date of the 1922 Compact, would be vulnerable to a Compact call. Attached at the end of the memo is a complete, updated list of the Authority's water rights. It is broken into two parts to show the rights that are senior to the Compact and the rights that are junior to the Compact. Overview of the 1922 Colorado River Compact. Divides the Colorado River, including all tributaries, into an Upper and Lower Basin. The boundary between the two basins is in Lee Ferry, Arizona. The Upper Basin states are Wyoming, Colorado, most of New Mexico and Utah, and that part of Arizona above Lee Ferry. • The Lower Basin states are Nevada, California, most of Arizona, and parts of Utah and New Mexico. Tm 1699;2 • Article IlI(a) - - Allocation between the Upper and Lower Basins: "There is hereby apportioned... in perpetuity to the Upper Basin and to the Lower Basin... the exclusive beneficial consumptive use of 7,500,000 acre feet per annum ...." • Article HI(b) - - Additional allocation to Lower Basin: "In addition to... paragraph (a) the Lower Basin is hereby given the right to increase its beneficial consumptive use... by one million acre feet per annum." • Article HI(c) - - Obligation to Mexico: Provides that water for Mexico "shall be supplied first from the waters over an above... paragraphs (a) and (b); and if such surplus shall prove insufficient... the burden... shall be equally borne by the Upper Basin and the Lower Basin • Article III(d) - - Ten year rolling average: "The states of the Upper Division will not cause the flow... At Lee Ferry to be depleted below an aggregate of 75,000,000 acre feet for any period of ten consecutive years ...." • Article VIII - - Protection for rights senior to the effective date of the Compact: "Present perfected rights to the beneficial use of waters of the Colorado River system are unimpaired by this compact." The term "present perfected rights" in the Compact was defined in Arizona v. California, 376 U.S. 340 (1964), to mean rights existing as of June 25, 1929, and meeting the following definition: [A] water right acquired in accordance with state law, which right has been exercised by the actual diversion of a specific quantity of water that has been applied to a defined area of land or to definite municipal or industrial works, and in addition shall include water rights created by the reservation of mainstream water for the use of federal establishments under federal law whether or not the water has been applied to beneficial use. Given this definition, all water rights actually applied to beneficial use before June 25, 1929, regardless of when actually adjudicated, should be protected against a Compact call.' 1 Note that without this express protection for "present perfected rights," delivery obligations could be imposed against rights senior to an interstate compact. Hinderlider v. La Plata River & Cherry Creek Ditch, 304 U.S. 92 (1938). Tm 1699;2 11 Overview of the 1948 Upper Colorado River Basin Compact. Allocates consumptive use among the Upper Basin States. Provides Arizona with 50,000 acre feet of consumptive use per annum, with the remainder as follows: • 51.75% to Colorado • 23.00% to Utah • 14.00% to Wyoming • 11.25% to New Mexico • "Consumptive use" is defined as man-made depletions to the native (virgin) flow at Lee Ferry. Significant Compact issues. • The conflict between Articles III(a) and III(d) - which is controlling? Must the Upper Basin forgo a portion of the 7.5 million acre feet allocated in Article IH(a) to deliver the 75 million acre feet allocated to the Lower Basin in any 10 year period as required by III(d)? • The Compact commits the Upper Basin to deliver 7.5 million acre feet per year on a ten year average, but the Upper Basin has been delivering a surplus. Can the Upper Basin take credit for the surplus delivered on an average annual basis (approximately 8.23 million acre-feet per year) since the Compact was ratified? • Would the United States Bureau of Reclamation first drain Blue Mesa and other federal reservoirs before requiring Colorado water users to stop diverting? • Some of the Upper Basin States such as Wyoming are much further away from using their full Upper Basin Compact entitlement. Will they be required or be willing to contribute more water to a Lower Basin Compact call so that Colorado water users are not shut down? • There is no written policy explaining how the Colorado State Engineer might attempt to meet a Compact call. The Division Engineer for Water Division No. 5 reports that the long standing assumption has been that enforcement would be on a strict priority basis, and that the State would simply start shutting down junior uses until the delivery obligation was met. There has, however, been some discussion by the State Department of Natural Resources on the feasibility of administering a Compact call by requiring each of Colorado's seven water divisions to supply a certain percentage of any state line delivery obligation. That effort is just getting started and appears a remote possibility at the current time. 11 Tm 1699;2 Water Rights Lists If there is a Compact call, the most likely scenario is that the State Engineer would start by shutting down the most junior users until Colorado's share of the delivery obligation is met. Rights senior to the effective date of the Compact, June 25, 1929, probably could not be called out. Attached to this memo is a complete, updated list of the Authority's water rights. It is broken into two parts to show the rights that are senior to the Compact and the rights that are junior to the Compact. Contract Water Storage Rights In addition to the water rights on the attached lists, the Authority has the right to water stored in the facilities described below. The Green Mountain and Wolford Reservoir water is junior to the effective date of the Compact. The water storage rights for the Homestake and Eagle Park Reservoirs are also junior to the effective date of the Compact. However, to the extent these facilities are augmented with senior water rights, they will not be subject to a Compact call. • Green Mountain Reservoir - 220 acre feet pursuant to Contract No. 9-07-60-WO413 with the United States Bureau of Reclamation. • Homestake Reservoir - Stock in the Eagle Park Reservoir Company as follows: 125 shares of Class B Series 1 and 125 shares of Class B Series 2 (to be issued on approval of amended articles of incorporation), entitling the Authority to 250 acre feet in Homestake Reservoir. • Eagle Park Reservoir - 4,090 shares of Class A2 stock which entitles the Authority to 409 acre feet. • Wolford Mountain Reservoir/Ruedi Reservoir - 200 acre feet pursuant to Contract No. CW02020, December 31, 2002, assigned June 4, 2004 from Squaw Creek Metro District. 10.8 acre feet pursuant to Contract No. CW03005, January 3, 2003, assigned April 3, 2003 from the Town of Avon. 11 Tm 1699;2 0 0 0 PERTINENT ASPECTS OF WATER RIGHTS ASSOCIATED WITH THE UPPER EAGLE RIVER WATER AUTHORITY, PRE-JUNE 26, 1929 Decreed Structure Name (1) Owner Source 2 Amount, cis 3 Amount Owned, ofs (4 Status 5 Adjudication Date (8 Appropriation Date 7 Original Use (8) Priority No. (9) Administration No. (Pre-1929) (10) Original Case No. (11) Howard-Winslow Ditch Brett Ditch Barry Cr. Edwards Be" Cr. Lake Cr 3.20 3 000 0.50 A 12-17-1889 7-24-1884 1 26 12624.00000 CA294 Brett Ouch Edwards . Lake Cr . 3 000 18.584 of A 12-17-1889 4-01-1887 I 53 13805.00000 CA294 Metcalf Ditch Avon . Eagle R . 6 000 A 12-17-1889 4-01-1887 I 53 13605.00000 CA294 Hurd Ditch Avon . Buck Cr . 2 000 6.000 A 3-05-1901 4-01-1888 1 146 16251.13971 CA385 Nottingham & Pudet Ditch Avon . Eagle R . 10 000 2,000 A 3-06-1901 10-01-1888 1 147 18251.14154 CA385 Terrell & Ford Ditch Arrowhead . Eagle R . 6 640 2.500 A 3-05-1901 4-02-1889 1 148 16251.14337 CA385 Ben Nelson Ditch Howard Winslow Ditch Laura A. Hockett Ditch Beaver Cr. Berry Cr. Cordillera . GrouseCdEa IeR Berry Cr. Brush Creek . 3.300 3.60 3 6 0.000 2.500 3.60 .6 A A A 3-05-1901 3-05-1901 3 05-1901 6-10-1889 8-20-1889 2-04-1890 I 1 I 151 153 157 16251.14406 16251414416 16251.14645 CA385 CA385 CA385 Creams Ditch Edwards East Lake Cr . 7 300 - 0.5 A 3-5-1901 9-21-1893 I 164 16251.15970 CA 385 Howard Ditch Berry Cr. . Eagle R. . 3 08 41.64 of A 3-05-1901 5-05-1896 1 172 16927.00000 CA385 Howard Ditch Edwards Eagle R: . 3 080 0.78 A 3-05-1901 6-13-1898 1 180 17696.00000 CA385 Howard Ditch JM Dodd Ditch - Hyde & Beck Enl. JM Dodd Ditch - Hyde & Beds Enl. Edwards Edwards Cordillera Eagle R. Lake Cr. Lake Creek 4 3.080 3.900 3.9 4.94 of 13.5 of 42.12 of 0 4588 A A A 3-05-1801 3-05-1901 12 8-1903 6-13-1888 6-13-1898 5-01-1884 1 1 I 180 180 202 17696.00000 17696.00000 18509.16192 CA385 CA385 CA417 JM Dodd Ditch - Hyde & .Beck Eni. Townsend Ditch Cordillera Beaver Cr. Lake Creek Beaver Cr. 3.9 1.670 . 1.03887 1.670 A A A - 12-8-1903 12-8-1803 12 05 5-1-1894 5-1-1894 1 1 202 202 19509.16192 19509.16192 CA 417 CA 417 Townsend Ditch Beaver Cr. Beaver Cr. 2.500 2.500 A - 1905 12 05 5-18-1888 I 204 20405.14018 CA438 Fleck Ditch Howard Winslow Ditch 1st Eni. Dutton Ditch Hammer Ditch Wiltshire-Thomas Ditch Willow Cr. Ditch Graham No. 1 Ditch Graham No. 2 Ditch Eagle Ditch Grace Park Ditch June Creek Ditch Johnson & Howard Ditch SB & AH Ditch SB & AH Ditch 1st Eni. Wiltshire-Thomas Ditch tat End. Eagle-VaUl Berry Cr. Edwards Beaver Cr. Beaver Cr. Eagle-Vail' Ea le-Vail 9 Eagle-Vail' E. le-Vail 9 - Eagle-Vail Berry Cr. Beaver Cr. Beaver Cr. Beaver Cr. Beaver Cr. Beaver Cr. Ber Cr. Berry Cr. Beaver Cr. Beaver Cr. Stone Cc Eagle R. Stone Cr. agle R. Eagle R. June CG Beaver Cr. Beaver Cr. Beaver Cr. Beaver Cr. 1.100 0.04 0.083 1.600 2.800 3.000 2.500 2.500 .500 3.200 4.50 3.000 8.000 5.000 1.200 1.100 0.04 2.74 of 1.600 2.800 3.000 2.500 2.500 2.500 3.200 3.80 2.625 2.625 2.187 1.200 A A A A A A A A A A A A A A A - -1905 -04- 61907 907 6-04- 8-04-1907 6-28-1808 1-12-1909 1-12-1909 7-26-1909 7-26-1909 7-26-1808 7-26-1909 10-25-1809 09 2-26-19 10 9-08-1913 8-08 1913 5-18-1888 4-10-1889 8-30-1905 5-01-1888 9-20-1900 10-29-1908 6-11-1886 12-15-1890 12-15-1880 7-03-1896 7-01-1888 7-15-1889 5-14-1900 6-15-1 10-17-19 111 1 I 1 1 I 1 1 1 i 1 1 1 1 1 1 1 204 207 252 269A 274 275 276 277a 276a 277 278 282 280 314 315 20405.14018 20972.14345 20972.20269 20973.14001 21361.19164 21486.00000 21707.13311 21707.14959 21707.14959 21707.16986 21756.14062 21756.14441 2192818388 23219.20254 23219.22569 CA438 CA446 CA446 CA487 CA511 CA511 CA430 CA518 CA519 CA430 CA527 CA528 CA536 CA602 CA602 Smith and Pallister Ditch Johnson & Howard Ditch 1st Eni. Cordillera Avon W. Lake Creek Beaver Cr. 1.8 0.280 0.458 0.280 A A 3-17-1919 919 3-17- 5 21 1920 7 8-30-10-1901-1910 1 1 331 340 24900.12 81 24900.18818 CA60 CA 708 Graham Ditch, Second End. Cordillera Squaw Creek 1.0 1.0 A - - 6 26 5-20-1813 I 350 25672.23150 CA734 - -1922 6-10-1916 1 354 26313.24267 CA 781 Helton & Wifiamsen, P.C., 10/2712004 water rights-082404.tawVJERWA Page 1 0 9 0 PERTINENT ASPECTS OF WATER RIGHTS ASSOCIATED WITH THE UPPER EAGLE RIVER WATER AUTHORITY, PRE-JUNE 25,1929 Structure Name (1) Owner Source (2 Amount, cfs (3) Amount Owned, cfs 4) Status (5 Adjudication Date 6 Appropriation Date (7) Original Use (8) Priority No. (9) Administration No. (Pro-1829) 10) Original Case No. (11 Grace Park Ditch 1st Enl. Eagle-trek Ea l R Nottingham & Puder pitch 1st Enl Avon g e . E l R 3.320 3.320 A 10-03-1936 _ 7-01-1868 1 375 30884.14427 CA963 . Nottingham & Puder Ditch 1st Enl Avon ag e . E l R 4.420 2.210 A i0:03-1936 _ 4-02-1880 1 377 30894.14702 CA963 . June Creek Ditch 1st Ent. Berr Cr ag e . J C 1.000 1.000 A T(53-1936 4-02-1880 1 377 30894.14702 CA963 June Creek Ditch 1st Enl. y . Cr Berr une r. J C 4.26 4.26 A 10-03-1938 6-15-1890 I 379 30894.14778 CA963 Eagle Ditch 1 st Ent. . y Eagle-Vail' une r. E l R 2.67 2.67 C 10 03-1836 6-15-1890 1 378 30884.14776 CA963 Creamery Ditch 1st Enl. Edwards ag e . East Lak C 7.524 3 7.524 A 10-03-1836 7-03-1897 1 382 30894.17351 CA963 Howard Ditch 1st Enl. Berry Cr e r. Ea le R .160 1 1 38.43 of A 10-03-1836 5-05-1888 1 385 30894.17657 CA963 Howard Ditch 1st Enl. . Edwards g . Ea l R 1.92 0 A 10-03-1936 8-13-1899 1 385 30894.18061 CA963 Howard Ditch 1st Enl. Edwards g e . Ea le R 11.820 1 78.12 of A 10-03-1936 6-13-1889 1 385 30894.18061 CA963 JM Dodd Ditch 2nd Ent. Edwards g . Lake Cr 1.920 6 200 13.5 of A 10-03-1936 6-13-1899 1 385 30894.18061 CA963 Nottingham & Puder Ditch CAC No. 1 Avon . Eagle R . 1 280 0 of Abend. 10-03-1836 5-01-1900 I 387 30894.18383 CA963 Nottin ham & Puder Ditch CAC No. 1 C.A.C. No. 1 Ditch Avon Eagle-Vail' . Eagle R. Whiskey Cr . 1.000 2 130 1.280 1.000 A A 10-03-1836 10-03-1836 6-21-1902 6-21-1902 I I 393 393 30894.19184 30884.19164 CA963 CA963 Brett Ditch 2nd Enl. Townsend Ditch 1st Ent. Edwards Beaver Cr. . Lake Cr. Beaver -6f- . 2.450 3 844 2.130 3 8 A A 10-03-1838 10-03-1936 6-21-1902 6-10-1804 I 1 383 394 30894.19164 30894.19884 CA863 CA963 Nottingham & Puder Ditch CAC No. 2 CA.C. No. 2 Ditch Howard Winslow Ditch 2nd Ent. Hammer Ditch 1st Enl. Avon Eagle-Vail' Berry Cr. Beaver Cr. Eagle R. Whiskey Cr. Berry Cr. Beaver Cr. . 5.000 1.400 4.39 2.180 . 44 5.000 1.400 4.38 2 160 A A A A 10-03-1936 10-03-1936 10-03-1836 10-03-1836 5-18-1805 7-30-1905 7-30-1805 6-30-1906 I 1 1 1 396 399 388 401 30894.20226 30894.20299 30884.20288 30894.20634 CA963 CA963 CA863 CA963 Metcalf Ditch 1st Enl. Avon Eagle R. 0.800 . 0.800 A A 10-03-1936 10 03 6-01-1910 I 410 30884.22066 CA963 Metcalf Ditch 1 st Enl. Avon Ea le R. 4.070 4.070 A - -1838 10 03 193 4-01-1912 1 415 30894.22736 CA963 Wiltshire-Thomas Ditch 2nd Enl. Beaver Cr. Beaver Cr. 2.200 2.200 A - - 6 10 03 4-01-1912 1 415 30894.22736 CA963 Johnson & Howard Ditch 2nd Enl. Graham No. 2 Ditch 1st Enl. Willow Cr. Ditch 1st Enl. Graham No. 1 Ditch 1 st Enl. SB & AH Ditch 2nd Ent. Terrell 8 Ford Ditch 1st Enl. Avon Ea Ie-Vail' 9 Eagle-Vail Eagle-Vail' Beaver Cr. Arrowhead Beaver Cr. Stone Cr. Stone Cr. Eagle R. Beaver Cr. Eagle R. 5.930 3.310 5.170 3.710 5.320 10.810 5.930 3.310 5.170 3.710 2.327 147 of of credits cons. use A A A A A A - -1838 10-03-1838 10-03-1936 10-03-1936 1010- 0303-1-183936 8 10-29-1912 5-20-1915 8-01-1919 801-1819 12-15-1818 10-17-1820 I 1 1 I I 1 418 424 428 437 440 446 30894.22947 30884.23880 30894.25353 30894.25353 30884.25550 30894.25857 CA963 CA963 CA963 CA963 CA963 CA963 Mahone Ditch Ea lea -V Stone Cr. 2.760 2.760 A 10-03-1936 10 03 6-10-1821 I 449 30884.26083 CA963 'Ownership shared with Edwards and C ordillera. - -1836 4-01-1827 I 468 30894.28214 CA963 Helton & Wiliamsen, P.C., 10/2712004 water rights-082404.tawWERWA Page 2 0 0 9 PERTINENT ASPECTS OF WATER RIGHTS ASSOCIATED WITH THE UPPER EAGLE RIVER WATER AUTHORITY, POST-JUNE 25, 1929 Structure Name (1) Owner Source 2) Decreed Amount, cts (3) Amount Owned, cfs 4) Status (5) Adjudication Date (6) Appropriation Date (7) Original Use (8) Priority No. (9) Administration No. (Post-1929) (10) Original Case No. (11) C.A.C. No. 3 Ditch Eagle-Vail' Stone Cr. 0.250 0.250 A 10-03-1936 11-24-1933 1 482 30894.30643 CA963 C.A.C. No. 3 Ditch Graham No 1 Ditch 2nd Enl Eagle-Vail Eagle-Vail Stone Cr. E 6.150 6.150 A 10-03-1936 11-24-1933 1 482 30884.30643 CA963 . . Peterson Ditch Edwards agle R. E l 8.590 8.590 A 2-07-1956 5 15-1930 1 498 31983.29354 CA1128 ag e R. 1.000 9.7 of A 2-07-1956 5-06-1946 1 505 35189.00000 CA1 228 Terrell & Ford Ditch 2nd Enl. Eagle Ditch Nottingham Enl Arrowhead Eagle-Vail' Eagle R. E 6.200 0.000 A 2-07-1956 5 31-1951 I 511 37040.00000 CA1128 . agle R. 3.176 3.176 A 2-07-1956 6-01-1952 1 514 37407.00000 CA1128 Hammer Ditch 2nd Ent. Beaver Cr. Beaver Cr. 6.240 6.240 A 7-23-1958 7-31-1940 1 526 38753.33084 CA1193 Nottingham & Puder P&PL Metcalf Ditch 2nd Enl. Nottingham & Puder Ditch GracePark Avon Avon Avon Eagle R. Eagle R. E 13.580 9.130 4.235 9.130 A A 7-23-1958 7-23-1958 5-31-1941 5 15 1942 1 1 527 528 38753.33388 38753.33737 CA1193 CA1193 Grace Park Ditch 2nd Enl Ea le-Vail' agle R. 0.500 0.500 A 7-23-1958 4-30-1948 1 530 38753.35914 CA1193 . g Eagle R. 12.480 12.480 A 7-23-1958 4-30-1948 1 530 38753 35914 C Townsend Ditch 2nd Enl. Beaver Cr. Beaver Cr. 12.000 12.000 A 7-23-1958 5-31-1950 1 . 38753 36675 A1193 8 Johnson & Howard Ditch 3rd Ertl. Hammer Ditch 3rd Enl. Johnson & Howard Ditch 4th Enl. Avon Beaver Cr. Beaver Cr Beaver Cr. Beaver Cr. B C 2.800 2.000 2.800 2.000 A A 7-23-1958 5-31-1972 5-31-1952 12-01-1956 1 D,S 535 . 38753.37406 42420.39051 A1193 CA1193 CA1529 SB & AH Ditch 3rd Enl. Townsend Ditch 3rd Enl. . Beaver Cr. Beaver Cr eaver r. Beaver Cr. Beaver C 2.000 2.000 2 2.000 2.000 A A 5-31-1972 5-31-1972 12-01-1956 12-01-1956 D,S D,S 42420.39051 42420.39051 CA1529 CA1529 . r. .000 2.000 A 5-31-1972 12-01-1956 D S Wiltshire-Thomas Ditch 3rd Eng. Beaver Cr Beaver C , 42420.39051 CA1529 . . r. 2.000 2.000 A 5-31-1972 12-01-1956 D S 2 6 HA Nottin ham & Sons W T & S Avon Beaver Cr 3 ' 4 420.39051 A1 529 Beaver Cr Municipal Diversion VAI . Beaver Cr .000 3 00 1.000 A 12-31-1971 4-17-1971 M,D,1,0 44301.00000 W-327 Townsend Municipal Pi line VAI . Beaver Cr . 0 3 00 3.000 C 12-31-1971 11-26-1971 M,N,D,R 44524.00000 W 436 Nottin ham Domestic PL Silver Spring No. 1 Avon Edwards . Buds Cr. trib Ea le R . 0 1.000 0 0 3.000 1.000 C C 12-31-1971 12-31-1973 11-26-1971 9-01-1933 M,N,D,R M,D 44524.00500 44925.30559 W-437 W-2130 Silver Spring No. 2 Edwards g . Crib Ea le R . 44 0 044 0.044 A 12-31-1973 8-01-1965 M,D,S N 44925.42155 W-1776 Peterson Spring Edwards g . trib Ea le R . 0 750 0.044 A 12-31.1973 6-01-1965 M,D,S - 44925.42155 W-1777 Williams Ditch Edwards g . Eagle R . 0 500 00750 C 12-31-1974 7-04-1972 M,D,S 45290.44745 -2322 W 4 322 Williams Ditch Eagle Pond Edwards Eagle-Vail . Eagle R. Stone Cr . 0.500 5 19 ac-ft 0.500 0.500 5 19 C A 12-31-1976 12-31-1976 4-15-1968 4-15-1968 M,D,C,N 1 - 46020.43204 46020.43204 W- -3134 W-3134 Stone Cr Reservoir & Ditch Stone Cr Reservoir & Ditch Eagle-Vail Eagle-Vail . Stone Cr. Stone Cr . 3.000 . a,ft 3.000 A A 12-31-1976 12-31-1976 8-18-1972 8-18-1972 I R P 1 46020.44790 46020.44790 W-3289 W-3289 Eagle-Vail Mun Water System Ea le-Vail . Stone Cr & Ea le R 12.000 2 332 12.000 A 12-31-1976 8-18-1972 R ,P 46020.44790 W-3289 Eagle-Vail Mun Water System Eagle-Vail . g . Stone Cr & E l R . 2.332 C 12-31-1976 8-20-1972 M,D,I,R,O 46020.44792 W-3289 South Forty Well Edwards . a e . Eagle R. alluv 3.168 0.648 3.168 0.648 A C 12-31-1976 12-31-1978 8-20-1972 6-15-1976 M,D,I,R,O M,D,I,C,N - 46020.44792 46187.00000 W-3289 W-3136 Helton & Wiliamsen, P.C., 10/2712004 water rights-082404.taw1UERWA-post-1929 Page 1 0 0 0 PERTINENT ASPECTS OF WATER RIGHTS ASSOCIATED WITH THE UPPER EAGLE RIVER WATER AUTHORITY, POST-JUNE 25,1929 Structure Name (1) Owner source (2) Decreed Amount, ds (3) Amount Owned, ds (4 Status (5) Adjudication Date (6) Appropriation Date (7) Original Use (8) Priority No. (9) Administration No. (Post-1929) (10) Original Case No. (11) South Fort Well Edwards Eagle R. aUuv 0.022 0.022 A 12-31-1976 6-15-1976 M,D,I,C,N - 46187.00000 W-3136 Williams Reservoir Avon Metro Mun Water S stem Edwards A Eagle R. 8.0 of 8.0 ac-ft C 12-31-1976 6-15-1976 M,D,I,C,N - 46187.00000 W-3135 von Eagle R. 1.000 1.000 C 12-31-1877 8-31-1974 M,D,I,p 46386.45533 W-3666 Avon Metro Mun Water System Benchmark Lake Notti ham Lak Avon A Eagle R. 4.000 4.000 A 12-31-1977 8-31-1974 M,D,I,O 46386.45533 W-3666 e June Cr Ranch Co Well No 1 von B C Ea le R. & Buck Cr E 168.349 a 168.349 of A 12-31-1977 6-01-1977 M,D,1,0 46538.00000 W-3582 . . . June Cr Ranch Co Well No 2 erry r. B C agle R. alluv E 0.111 0.111 C 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 . . . r. erry agle R. alluv 0.379 0.379 A 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 June Cr. Ranch Co. Well No. 2 June Cr Ranch Co Well No 3 Berry Cr. B C Eagle R. aquv 0.735 0.735 C 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 . . . June Cr Ranch Co Well No 4 erry r. B C Eagle R. alluv 0.223 0.223 C 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 . . . June Cr Ranch Co Well No 5 erry r. Be C Eagle R. alluv E 0.223 0.223 C 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 . . . June Cr. Ranch Co. Well No 6 rry r. Berr Cr agle R. alluv E l R 0.223 0.223 C 12-31-1978 12-01-1878 M,D,I,R,P,O 47086.00000 W-3999 . June Cr Ranch Co Well No 6 y . Ber C ag e . alluv E 0.535 0.535 A 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 . . . June Creek Reservoir ry r. Berr C agle R. alluv B 0.579 0.579 C 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 15th Hole Reservoir y r. Sonne l er ,June,Ea le B 45 of 22.8 of A 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 15th Hole Reservoir na Sonnenal er ,June,Ea le B J 0.8 of 0 C 12-31-1978 12-01-1978 M,D,I,R,P,O 47086.00000 W-3999 4th Hole Reservoir 4th Hole Reservoir 14th Hole Res. Sonnenal Sonnenal e , une,Ea le Be ,June,Ea le Be J E l 9.2 of 8.7 of 0 0 A C 12-31-1978 12-31-1978 12-01-1978 12-01-1978 R,A M,D,I,R,P,O 47086.00000 47086.00000 W-3999 W-3999 Tract E Reservoir 18th Hole Res. Sonnenal , une, a e Be J E l 1.3 of 0 A 12-31-1978 12-01-1978 R,A 47086.00000 W-3999 Tract E Reservoir 6th Hole Res. Sonnenal , une, a e Be J E 1.0 of 0 A 12-31-1878 12-01-1878 R,A 47086.00000 W-3999 Tract E Reservoir Charolais Res. Berr Cr , une, a le Be J E l 0.6 of 0 A 12-31-1878 12-01-1978 R,A 47086.00000 W-3998 Arrowhead Eagle R. DBPL y . Arrowhead , une, a e E l R 15.5 of 0 A 12-31-1978 12-01-1978 R ,A 47086.00000 W-3999 ag e . 5.000 0.000 C 12-31-1979 12-28-1979 M D I F R 7 Arrowhead McCoy Cr. DBPL Arrowhead McCo C , , , , 4 478.00000 79CW360 Arrowhead Reservoir Arrowhead y r. McCo Cr 5.000 0.000 C 12-31-1979 12-28-1979 M,D,I,F,R 47478.00000 79CW360 Avon Metro Mun Water System 1st EM Avon y . Ea le R 500 of 5 0 30 of C 12-31-1979 12-28-1979 M,D,I,F,R 47478.00000 79CW360 Arrowhead Well No. 1 Arrowhead g . Ea le R ll . 00 5.000 7 C 12-31-1980 3-04-1980 M,D,1,0 47545.00000 84CW225 Arrowhead Well No. 2 Arrowhead g . a uv Ea le R ll 0.557 0 312 C 12-31-1980 5-13-1980 M,D,I,F,R 47615.00000 80CW397 g . a uv 0.557 0.312 C 12-31-1980 5-13-1980 M D I F R 47615 00000 Arrowhead Well No. 3 Arrowhead R E l ll , , , , . 80CW397 . a ag e uv 0.557 0.312 C 12-31-1980 5-13-1980 D M I F R 47615 00000 Arrowhead Well No. 4 Edwards Village Well No. 1 Arrowhead Edwards Ea le R. alluv E l R ll 0.557 0.312 C 12-31-1980 5-13-1880 , , , , M,D,I,F,R . 47615.00000 80CW397 80CW397 Edwards Village Well No. 2 Edwards ag e . a uv Ea le R ll 0.111 0.111 C 12-31-1980 12-18-1980 M,C,D,I,R,O - 47834.00000 80CW550 Edwards Village Well No. 3 Edwards g . a uv le R Ea ll 0.111 0.111 C 12-31-1980 12-18-1980 M,C,D,I,R,O 47834.00000 80CW550 Edwards Village Well No. 4 Edwards . a g uv Eagle R. alluv 0.111 0.111 0.111 0.111 C C 12-31-1980 12-31-1980 12-18-1980 12-18-1980 M,C,D,I,R,O M,C,D,I,R,O - 47834.00000 47834.00000 80CW550 80CW550 Helton & Wiliamsen, P.C., 10/27/2004 water rights-082404.taw1UERWA-post-1928 Page 2 0 0 0 PERTINENT ASPECTS OF WATER RIGHTS ASSOCIATED WITH THE UPPER EAGLE RIVER WATER AUTHORITY, POST-JUNE 25, 1929 De« d Structure Name (1) own" Source (2) ee Amount, cfs (3) Amount Owned, ds (4) Status (5) Adjudication Date (6) Appropriation Date (7) Original Use (8) Priority No. (9) Administration No. (Post-1929) (10) Original Case No. (11) Edwards Village Well No 5 Ed a d E . Edwards Village Well No 6 w r s Edward agle R. akuv E 0.111 0.111 C 12-31-1980 12-18-1980 M,C,D,I,R,O - 47834.00000 80CW550 . Homestead Reservoir s Edwards agle R. alluv E Fk L 0.111 0.111 C 12-31-1980 12-18-1980 M,C,D,I,R,O 47834.00000 80CW550 Creams Ditch Homestead Res Ent Edward . ake Cr. E 20 ac-ft 0.000 C 12-31-1981 12-31-1979 M,R,O,P - 47847.47481 81CW266 . Edwards Mun Diversion Pipeline s Edwards . Fk Lake Cr. L k C 5.000 0.000 C 12-31-1981 12-31-1979 M,R,P,O - 47847.47841 81CW265 Edwards Village Pond No. 1 Edwards a e r. alluv E 0.891 0.891 C 12-31-1981 2-10-1981 M,C,D,I,R,O 47888.00000 81CW61 Edwards Village Pond No 2 Edward agle R. 2.4 ac-ft 1.8 ac-ft C 12-31-1981 2-10-1981 M,C,N.D,I,R, - 47888.00000 81CW61 . Edwards Village Pond No. 3 s Edwards Eagle R. E 1.7 acftf 1.2 ac-ft C 12-31-1981 2-10 1981 M,C,N.D,I,R, - 47888.00000 81CW61 Edwards Village Pond No. 4 Edwards Village Pond No. 5 Edwards Edwards agle R. Eagle R. E 0.7 ac-ft 0.7 ac-ft 0.5 ac-ft 0.5 ac-ft C C 12-31-1981 12-31-1981 2-10-1981 2-10-1981 M,C,N.D,I,R, M,C,N.D,I,R, - 47888.00000 47888.00000 81CW61 81CW61 Edwards Water Dist Well No. 2 Edwards agle R. E l R 0.5 ac-ft 0.4 ao-ft C 12-31-1981 2-10-1981 M,C,N.D,I,R, - 47888.00000 81CW61 Edwards Water Dist Well No. 3 Edwards ag e . alluv E l R 0.440 0.440 C 12-31-1981 6-11-1981 M,D,I,C,N,O - 48009.00000 81CW161 SCR Diversion Pt. No. 1 Cordillera ag e . alluv W Lake C k 0.440 0.440 C 12-31-1981 6-11-1981 M,D,I,C,N,O 48009.00000 81CW161 Eagle River Div. Pt. 2 Eagle River Div. Pt. 3 Cordillera Cordillera . ree Squaw Creek S uaw Cre k 5.0 5.0 5.0 5.0 C C 10-11-1990 1-3-1992 5-5-1989 4-26-1990 WA MA CW 91 CW076 76 SCR Div. Pt. No. 7 Squaw Cr. Rec. Reservoir 6 Cordillera Cordillera q e Squaw Creek 5.0 5.0 10 5.0 5.0 C C 1-3-1992 1-3-1992 4-26-1990 4-26-1990 _ N/A WA 81CW076 91CW076 Squaw Cr. Rec. Reservoir 7 Squaw Cr. Rec. Reservoir 8 Cordillera Cordillera ac-ft 10 ac-ft 10 ft 10 ac-ft 10 ac-ft C C 8-18-1987 8-18-1987 11-30-1985 11-30-1985 - 86CW153 86CW153 Cordillera Reservoir 1 Cordillera trib of S uaw Cr ac- 10 ft 10 ac-ft C 8-18-1987 11-30-1985 E 8CW Cordillera Reservoir 2 Cordillera . . trib of S uaw Cr ac- 10 ft 10 ac-ft C 7-22-1988 11-19-1987 • NIA 87CW309 09 Cordillera Reservoir Cordillera . q . trib of Squaw Cr ac- 10 a ft 10 ac-ft C 7-22-1988 11.19.1987 A 87CW309 C ordillera Reservoir 4 Cordillera Reservoir 5 Cordillera Cordillera . . trib. of Squaw Cr. trib of S uaw Cr c- 10 ac-ft 10 ft 10 ac-ft 10 ac-ft C C 7-22-1988 7-22-1988 11-19-1987 11-19-1987 N/A N/A 87CW309 87CW309 Cordillera Reservoir 6 Cordillera . q . Crib. of Squaw Cr. ac- 10 ac-ft 10 ac-ft 10 ac-ft C C 7.22.1988 7-22-1988 11-19.1887 11-19-1987 WA 87CW309 Fenno Well Nos. 1 - 7 Cordillera trib. of Squaw Cr. 450 m 450 m 250 gpm Abs, 200 g m Cond 1-3 1992 4-26-1990 N/A N/A 87CW309 91CW077 vwneitimp snared wan towards and Cordillera. Helton & Wiliamsen, P.C., 10127/2004 water rights-082404.taMUERWA-post-1929 Page 3 Deviation from Mean Precipitation and Average High Temperature vs . ERWSD Water Use - Summer Irrigation Season 2000 Month Apr May Jun July Aug Sept AVE Temp % from Average PCPT % from Avera e 13% 26 2% 0% 2% -3% 1 % 3% g Water Use % from Ave % 6% 25% -9% 48% -42% 39% 14% 18% 16% 8% 9% o -3 /0 2% 2001 Month Temp % from Average Apr -15/0 May y 2% Jun July Aug Sept AVE PCPT % from Average 89% -37% 0% 4% 2% -37% -3% 1 % ° -2% Water Use % from Ave -2% -3% ° ° 14 / 46% ° 1 % 11 o -2 /o -10% 0% 2002 Month Temp % from Avera e Apr 8% May Jun July Aug Sept AVE g PCPT % from Average - _ o 66/o 3% -47% 47/o 6% ° -80 / 5% -10% 0% -3% 1 % Water Use % from Ave -2% -3% o 5% 14% 9% ° 67% -21% -2 /o -10% 0% 2003 Montho Temp /o from Average Apr -15% May -1% Jun* July Aug Sept AVE PCPT % from Average 31% -19% -4% 83% 5% -19% 0% 182% -5% 39% -3% Water Use % from Ave -19% -20% -21% -27% 6% 28% 50% - -18% 2004 *tiered rates go into effect Month Temp % from Avera e Apr 15% May Jun July Aug Sept AVE g PCPT % from Average - - o 37/o 1 % -26% 26/0 22 /o ° -26% 6% o 24/0 3/o ° Water Use % from Ave -17% -21% -2% -21% - 23% 10% -11% -17% Memo To: Honorable Mayor and Town Council Thrtc Larry Brooks, Town Manager From: Tambi Katieb, Community Development Director Dahm November 3, 2004 Re: Community Development Update AVO , N C O L O R A D O Community Development will be providing you all with a brief update of several items at your work session, including: ¦ Avon Carwash Update (see attached letter) ¦ Comprehensive Plan Update ¦ Building Community meeting for last quarter of 2004: November 16th, 2004 9 Community Development Update to Council November 9, 2004 Work session Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Bob Reed, Director of Public Works Date: November 4, 2004 Re: Banners on Railroad bridge Summary: Now that we have the banner brackets on the Railroad bridge, it was suggested to us that perhaps we place some "Avon" banners in times when there are no requests from outside sources. It may help with some identity issues that have been discussed in the past. Discussion: I would like to have some up in time for the upcoming season or at least for the World Cup races in the first week of December. As we all heard from Ceil Folz, the media uses Avon as their base of operations and it would be nice to have something like that up for people from all over the world to see. Financial Implications: Initially we would order a couple of banners to get us through this season and possibly through 2005. We could accomplish this within our current budget. Perhaps for the future, we may want to have different banners for the different seasons and would need to address that at that time. Recommendation: Staff recommends approval to order at least two banners to hang through the winter season when nothing else is scheduled to be up. Town Manager Comments: 1: Administration\Admin\Council Memos\Banner Menio,Doc TOWN OF AVON REGULAR COUNCIL MEETING AGENDA NOVEMBER 9, 2004 - 5:30 PM MEETING TO BE HELD AT AVON MUNICIPAL BUILDING, 400 BENCHMARK ROAD, AVON, CO 1. Call to Order / Roll Call 2. Citizen Input 3. Ordinances Second Reading & Public Hearing a. Ordinance No. 04-18, Series Of 2004, Second 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. Second Reading & Public Hearing b. Ordinance No. 04-19, Series of 2004, Second Reading, 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. 4. Resolutions a. Resolution No. 04-40, Series of 2004, A Resolution Amend the 2004 Town of Avon Budget b. Resolution No. 04-41, Series of 2004, A Resolution to Amend the 2004 Town of Avon Capital Projects Fund Budget c. Resolution No. 04-42, Series of 2004, A Resolution to Adopt the 2005 Town of Avon Budget d. Resolution No. 04-43, Series of 2004, A Resolution to Accept the Proposed Town of Avon Long Range Capital Program And Simultaneously Adopt the Year 2005 Capital Projects Fund Budget 5. Other Business a. Veteran's Day Proclamation 6. Unfinished Business 7. Town Manager Report 8. Town Attorney Report TOWN OF AVON REGULAR COUNCIL MEETING AGENDA NOVEMBER 9, 2004 - 5:30 PM Page 2 9. Mayor Report 10. Consent Agenda a. Approval of the October 26, 2004 Council Meeting Minutes b. Eagle County Regional Transportation Authority Service Agreement (Bob Reed) - Agreement for parking of ECO buses c. Resolution No. 04-46, Series of 2004, Resolution approving the Amended Final Plat, The Village at Avon, Filing 1, Town of Avon, Eagle County, Colorado (Norm Wood) - Amended final plat to correct errors related to the bearings and distances of the exterior boundary 11. Farewell Comments of Outgoing Council Members 12. Adjournment 13. Reception for Outgoing Members Notice is hereby given that a reception will be held immediately after the regular meeting of the Town Council at Vista Restaurant located at 48 East Beaver Creek Blvd, Avon, Colorado. Please join us in thanking the outgoing members of the Avon Town Council for their years of service. Town of Avon Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Finance DirectAi;?-S Date: November 3, 2004 Re: Ordinance No. 04-18, Series 2004 General Obligation Refunding Bond Ordinance Summa nr: A public hearing and second reading of the Bond Ordinance for the Series 2004 General Obligation Refunding Bonds will take place Tuesday evening, November 9th. 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 which will be passed on to Avon taxpayers in the form of a reduced debt service mill rate. David Bell of Hanifen Imhoff (the Town's bond underwriter) will be here to update the Council on current market conditions and to explain the process of marketing the bonds and the final closing. Town Manager Comments: 4 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. -1- 0 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. 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. 1. 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 0 ownership interests in any of the foregoing) and which are not callable prior to their scheduled 0 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. U. Mayor means the Mayor of the Town, or in his or her absence, the Mayor Pro-Tern 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. 0 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. Paving 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. 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. II. 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 0 -4- 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. Registrar 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. 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. -5- 0 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. 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. is -6- 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 the final determinations contained therein for the Bonds and Registered Coupons, subject to the parameters and restrictions of this Ordinance. 0 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 i 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, -8- and upon presentation and surrender at the Principal Office. If any Bond shall not 0 be paid upon such presentation and surrender at maturity, it shall continue to draw 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. -9- 0 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 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 0 -10- 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 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; ?J (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. 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. 0 -12- 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 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 -1; 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 0 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 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 0 -14- notice calling such Bond or portion thereof for prior redemption, except for the unredeemed is 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. 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. -15- 0 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 Registered Coupons by the Registrar together with written instructions for transfer satisfactory 0 -16- to the Registrar, a new Bond for each Maturity-Rate of the Bonds then outstanding and a new 0 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 -17- 0 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). 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: u 0 -18- (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 INTEREST RATE per annum REGISTERED OWNER PRINCIPAL AMOUNT: MATURITY DATE December 1, 20 CEDE & CO. DATED AS OF Date of Delivery CUSIP DOLLARS On the faith, credit and behalf of the Town of Avon (the "Town"), in Eagle County, State 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 I 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. -19- 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 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 11-57-210 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 0 -20- 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. 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) -21- 0 ® STATEMENT OF INSURANCE Financial Security Assurance Inc. ("Financial Security"), New York, New York, has delivered its municipal bond insurance policy with respect to the scheduled payments due of principal of and interest on this Bond to American National Bank, Denver, Colorado, or its successor, as paying agent for the Bonds (the "Paying Agent"). Said Policy is on file and available for inspection at the principal office of the Paying Agent and a copy thereof may be obtained from Financial Security or the Paying Agent. • 0 -22- (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) 0 • -23- is 0 (Form of Assignment) For value received, the undersigned hereby sells, assigns and transfer unto 0 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) ? -24- (Form of Prepayment Panel) 0 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) 0 -25- 0 0 (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 0 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 0 -26- Date specified above to the Interest Payment Date specified above. Such payment will be made 0 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 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 I1- 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. -27- 0 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 0 (MANUAL OR FACSIMILE SEAL) (End of Form of Registered Coupon) 0 -28- (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 C] By: Authorized Officer or Employee (End of Form of Registrar's Certificate of Authentication) -29- is (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) -30- 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 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 -31- paid, satisfied, and discharged; the Town may apply any other fiinds 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 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 -32- 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 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 33 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 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 -34- 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 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: -35- 0 0 (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. -36- 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. 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: -37- • E LL 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 0 -38- 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 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 Pang 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 -39- 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. 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: -40- (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 (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 -41- (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 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. 0 -42- 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. 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 -43- 0 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 shall be authenticated by the signatures of the Mayor, or Mayor Pro-Tem, and the Clerk. After the first reading of this Ordinance, it shall be posted in three public places within the Town pursuant to Section 6.7 of the Charter. Such posting 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 26th 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 9th day of November, 2004, at 5:30 p.m. in the Municipal Building of the Town of Avon, Colorado. TOWN OF AVON, COLORADO Mayor ATTEST: Clerk 0 -44- 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 E -45- 0 ® 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 E Those Voting No: Those Abstaining: Those Absent: 3. That the passage of the Ordinance on second reading was duly moved and 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: 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: 0 -46- 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. WITNESS my hand and the seal of said affixed this November , 2004. Clerk (SEAL) -47- 0 E E EXHIBIT A Notice of the October 26, 2004 and November 9, 2004 Meetings. Il Memo To: Honorable Mayor and Town Council HEART o(' the VALLEY C O L O R A D O Thu Larry Brooks, Town Manager tFrom: Eric Heidemann, Senior Planner Tambi Katieb, Director of Community Developme DWP- November 9, 2004 Re: Second Reading of Ordinance 04-19, recommending approval of Chapter 15.30 "Outdoor Lighting Ordinance" of the Avon Municipal Code (PUBLIC HEARING) Summary 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. Council approved this ordinance on first reading on October 26, 2004 with the following changes reflected in this version: ¦ Revise opening statement of Intent and Purpose to include Recital B and the purpose of preventing unnecessary upward lighting. • Delete the sign lighting restriction entirely. • Delete the restriction to flashing lights on residential properties, however retaining the time restriction for residential properties only. ¦ Clarify the partially-shielded and clear-glass fixture exemptions. Instead of defining partially shielded, the performance language of a non-compliant fixture was reorganized and clarified. ¦ Clarify the example lighting diagrams with "YES" and "NO". ¦ Add `trees' to the up-lighting provision to clarify the performance requirement. Memo to Town Council, November 9, 2004 PUBLIC HEARING Outdoor Lighting Ordinance, Second Reading of Ordinance 04-19 (formerly 04-08) Page 1 of 2 Discussion: Staff recommends that you approve this Ordinance on second reading, after opening the public hearing and receiving comments. Any final changes can be made as part of your motion on this ordinance. Available actions: 1. Adopt Ordinance 04-19 approving Chapter 15.30 "Outdoor Lighting Ordinance" on second reading. 2. Continue Ordinance 04-19 on Second Reading. 3. Deny Ordinance 04-19 on Second Reading. Staff Recommended Motion: " I move to approve Ordinance 04-19, approving the "Outdoor Lighting Ordinance", on second reading". Manager Comments: ?za2 ttachments: A- Ordinance 04-19 adopting Chapter 15.30 in the Avon Municipal Code (strikethrough version). B- Ordinance 04-19 adopting Chapter 15.30 in the Avon Municipal Code as submitted at first reading. C- Planning & Zoning Resolution 04-14 (and packet from May 18, 2004 P&Z meeting). Memo to Town Council, November 9, 2004 PUBLIC HEARING Outdoor Lighting Ordinance, Second Reading of Ordinance 04-19 (formerly 04-08) Page 2 of 2 I-- 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 purpose of this ordinance is to reduce offensive lighting sources and reduce light trespass beyond property lines including unnecessary upward lighting. 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. Reduee light trespass beyend pfepet4y lines, and offensive light ; GB. Prevent inappropriate and poorly designed or installed outdoor lighting; DC. Reduce glare; ED. Reduce nighttime light pollution and to protect and reclaim the ability to view the night sky by restricting the unnecessary upward projection of light; FE. 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. Controlled source and good aiming prevent light trespass. 4 Light trespass from uncontrolled source 15.30.030 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. G All sign lighfing and fighting not used for- saf?ty pufpeses must be tuffied off by 11:00 p.m. er- no Wer- 4taft ane hour- past the posted elesing houfs, whiehevef is lesR r-es4ietive. All sign lighting Effid lightiffg not used for- safety pufpeses fflay not be tufRed en eaffier- than 5.00 a.m., or- I heor- before the posted epeniog hour-, whiehevet: is less r-estr-ietive. D.C. 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 15`h to March Vt Residential 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. 1 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 5. Uplighting for flags, address markers, trees, 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 (light fixtures) that have a maximum output of one thousand lumens per fixture (equal to one sixty [60] watt incandescent light), regardless of the number of lamps, may be "-*' ll shielded pr-evided the bulb is `..? _ ,... .u......?.?. .?..? ?.? .,r ar-ehiteetttFe of the stfttetur-e and dees not eause glafe or- light trespass beyond the p eper } provided: a. The bulb of the fixture is not visible, and b. The fixture is under an opaque or clear structure utilizing frosted opalescent, clear, or iridescent glass; and c. 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 Li lg iting 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 1O 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. Unacceptable Acceptable Area Floodlights YES NO * Proper aiming is still required to prevent light trespass. Spotlights YES NO * Proper aiming is still required to prevent light trespass. Wall Packs NO YES Decorative NO • These fixtures may be acceptable if using a low YES wattage bulb. Street Lighting NO YES D 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 , 2004. Albert D. Reynolds, Mayor ATTEST: Patty McKenny, Town Clerk APPROVED AS TO FORM: John W. Dunn, Town Attorney ,. E 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. 15.30.030 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. 1_k__ 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 ?x 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. l"nuccn??fabke lcec lade :1rca € itw<iQLhts t 70 rJ ? * Ncxided ty}>r tloexflights still . _ require Pro" aiming to PrL%cnt glare and Fi,41t travP?s ' X11hLhi" " Propv aim ng is tequired to Prr?em glare and hAt trev'av#. Wrrluwt Melding, theic wpes of fodura sytrw wtcaanmAted light Hood tVtt with hoot 1 15, INTRODUCED, APPROVED, PASSED ON FIRST READING AND ORDERED POSTED the 26th 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 , 2004. Albert D. Reynolds, Mayor ATTEST: Patty McKenny, Town Clerk APPROVED AS TO FORM: John W. Dunn, Town Attorney 16 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 pan 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 Chapter I L30 - Outdoor Li hting 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 l 5.3-0----Outdoor Lie ling Ordinance ("Exhibit A") in order to amend the existing • Avon Municipal Code Section l S as adopted. P. Inn;no (nmmiccinnlR Penh,t;nr,cl7l1l1d1 A o e nA_ lAT Alin"fi- i- ?? ADOPTED THIS 18th DAY OF MAY, 2004 Signed- Chris Evans, Chair Attest: Date. iLu?? dx '. Date: Terry Smith, Secretary FTlanning & Zoning CornnDSSlonTesolutions12004URes 04-14 Lighting Ordinance Adoption.doc & ~Memo To: Planning and Zoning Commission From: Tambi Katieb, Community DevelopmeAt? Matt Pielsticker, Community Development Date May 13, 2004 Re: Proposed Lighting Ordinance - Resolution No. 04-14 VON C O L O R A D O Summary At your May 4"', 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: 1 -0 • 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. 0 Outdoor Lighting Ordinance (Chapter 15.30 Avon Town Code) Resolution 04-14, Recommending Adoption to Town Council May 18, 2004 Page 1 of 2 • 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 User's Guide" 10 • is Outdoor Lighting ordinance (Chapter 15.30 Avon Town Code) page 2 of 2 Resolution 04-14, Recommending Adoption to Town Council May 18, 2004 'AID Exhibit A to Resolution 04-14 , Chapter 15.30 OUTDOOR LIGHTING ORDINANCE Sections: 1 5.30.010 Intent and Purpose 15.30.020 Applicability 1 5.30.030 Lighting Plan 15.30.040 Violations 15.30.080 Definitions 1 5.30.010 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. 15.30.020 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: ?0%\ • 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 cui-off fixtures with the light source downcast and fully shielded, with the following exceptions: 1. Holiday lighting from November 1" 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. i 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. 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. (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 *1?1 • 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. 49 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. C7 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. 1 0 • a? 15.30.080 Definitions. In that is installed located or used in Exterior Lighting. Temporary or permanent light Luminaires that,a a indoors that are such a manner to cause light rays to shine outdoors. 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. ight Full cut-off fixture. A fixture designed and installed by the above on the fixture asides emitted at or a honzontal plane running through the lowest point 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. 41 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. • C7 What is a True Full Cutoff Outdoor Lighting Fixture? Yes Figure 1 ?. Yes Flat glass lens, eliminates or miniinizes 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 Plare. and can also produce unlieht at steeper mountine aneles. No _ G No No E Known as just "Cutoff' Center "drop" or "sag" lens with or without exposed bulb, produces direct glare. E 9-0 2y Figure 3 ?`` ? 000 00 we VI. - a- ftm ft.. .ft C r Oll ?, AVONTown of Avon Lighting Ordinance User's Guide C 0 L 0 A A D 0 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 'lull-cutoff" and compliant with Avon's Lighting Ordinance. V? Wellmounted with lipht bulb fully recessed ocaxe sryle I&/ cutoff Full Cutoff Shaped scaxv L' E Gtere Buster patent design cutoff Compliant "Full Cutoff,, fixtures (conf'd) A 11 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. V L:11 1: L? shijosa on rap wim uw,w yew Acceptable partially shielded fixtures (cont'd) Fenialy shielded wkh opalescent Diam C 0 Fartia#y shielded entry `` wall mounted with trusted pleas Frosted ptass with shielded top wall ma-r#od with textured glass fixture wlth opalescent glass Fartialy shielded with cobred opalescent glass run cwwi yarnoiy rryru C Gdof/ cammemw fixture r Fuly recessed campy nature The following examples are compliant with the Ordinance and may be used for commercial, security or parking lot lighting. Ferking1SecuHty pde mouniea =L" Full cut oN waa p+ar "' f"ore"' aprabu .n Floodlights 0 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) ?V hWd/iyhi angle The following light fixture examples DO NOT comply with the Town Lighting Ordinance: n Globes" NOT 'er?AW shielded rrew muunivv /1000///1( MM AccWfeb1e angle rreng/ng texture with clear g4m Vr5tu7a MWLI 0IM W-- Y-- No 1; llglrtrny is pemnrrred (except rw UP lighting) improperly aimed high output floodlight Prior to the retrofitting of any current non-compliant light fixtures, it is highly recommended that contact be. made with the Cored in order to Development Department. A lighting cut sheet is required determine if conformity with the Ordinance is possible. This uses guide is not an endorsement of any manufacturer or any du A Town of O? III is simply a guide to illustrate that there are a number of stylee of lighting that are compliant Sources dude; www.darksky.org/fixturWres.html, www.homedepot.com, www.seagulilighting.com, www.kichier.com/kichlercetalog.isp, www.regentlighting.com . L -7, L-7 0 34?16 46 Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Finance Director -? Date: November 1, 2004 Re: Adoption of 2005 Budget Summary: The final revised operating budget for 2004 and the final proposed 2005 operating budget are hereby submitted for adoption by the Avon Town Council. There have been no changes since the public hearing. Because of the upcoming bond refunding the 2 resolutions levying property taxes for general operatin and debt service and the Avon Metropolitan District will be submitted for adoption at the December 14 meeting. Recommendation: Staff recommends that Council adopt the resolutions discussed above as presented. Town Manager Comments: Attachments: A - Resolution 04-40 B - Resolution 04-42 Page 1 RESOLUTION NO. 04-40 SERIES OF 2004 A RESOLUTION TO AMEND THE 2004 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES BY FUND AND AMENDING THE 2003 BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2004, AND ENDING ON THE LAST DAY OF DECEMBER, 2004. WHEREAS, the Town Council of the Town of Avon has adopted the 2004 budget; and WHEREAS, the Town Council reviewed the revised estimated revenues and expenditures for 2004; and WHEREAS, the Town Council finds it necessary to amend the 2004 budget to more accurately reflect the revenues and expenditures for 2004; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the budget remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That estimated revenues and expenditures for the following funds are as follows for 2004: Original or Current Previously Proposed Amended Amended 2004 2004 Budget Budget General Fund Beginning Fund Balance $ 3,760,312 $ 3,760,312 Revenues and Other Sources 9,566,250 9,855,258 Expenditures and Other Uses 9,649,537 9,735,435 Ending Fund Balance $ 3,677,025 $ 3.880.135 I Mall Maintenance Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Water Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Wildridte Special Improvement District Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Original or Previously Amended 2004 Budget $ 52,122 77,024 84,290 $ 44.856 Original or Previously Amended 2004 Budget $ 1,502,417 232,200 169,413 $ 1.565.204 Original or Previously Amended 2004 Budget $ 10,288 1,224,113 1,223,048 $ 11.353 Original or Previously Amended 2004 Budget $ 15,646 47,292 62,140 $ 798 Current Proposed Amended 2004 Budget $ 48,562 54,101 85,760 16.903 Current Proposed Amended 2004 Budget $ 1,502,417 224,700 671,663 1.055.454 Current Proposed Amended 2004 Budget $ 12,161 1,224,113 1,223,048 $ 13.226 Current Proposed Amended 2004 Budget $ 17,790 50,962 62,008 $ 6.744 2 AMD Debt Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Finance Authority Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Transit Enterprise Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Sherwood Meadows Enterprise Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Original or Previously Amended 2004 Budget $ 31,835 487,843 487,695 31.983 Original or Previously Amended 2004 Budget $ 783,640 2,539,329 2,746,057 $ 576.912 Original or Previously Amended 2004 Budget $ 1,998 1,689,216 1,685,160 $ 6.054 Original or Previously Amended 2004 Budget $ 5,802 2,008,555 2,012,573 $ 1.784 Current Proposed Amended 2004 Budget $ 32,701 487,843 487,695 $ 32.849 Current Proposed Amended 2004 Budget $ 784,511 2,729,868 2,946,050 $ 568,329 Current Proposed Amended 2004 Budget $ 3,137 1,698,959 1,696,009 ? 6.087 Current Proposed Amended 2004 Budget $ (3,653) 2,207,557 2,203,904 $ 3 Fleet Maintenance Internal Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Equipment Replacement Internal Service Fund Beginning Fund Balance Revenues and Other Sources Expenditures and Other Uses Ending Fund Balance Original or Previously Amended 2004 Budget $ 65,724 1,609,154 1,605,434 $ 69,444 Original or Previously Amended 2004 Budget $ 1,140,850 444,681 270,047 $ 1,315,484 Current Proposed Amended 2004 Budget $ 64,966 1,693,126 1,653,165 104.927 Current Proposed Amended 2004 Budget $ 1,172,749 457,051 270,047 $ 1,359,753 Section 2. That the budget, as submitted, amended, and hereinabove summarized by fund, hereby is approved and adopted as the budget of the Town of Avon for the year stated above. Section 3. That the budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 9th day of November, 2004. ATTEST: Patty McKenny Town Clerk TOWN OF AVON, COLORADO Albert D. Reynolds, Mayor 4 RESOLUTION NO. 04-41 SERIES OF 2004 A RESOLUTION TO AMEND THE 2004 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES AND AMENDING THE 2004 CAPITAL PROJECTS FUND BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2004, AND ENDING ON THE LAST DAY OF DECEMBER, 2004. WHEREAS, the Town Council of the Town of Avon has adopted the 2004 Capital Projects Fund budget; and WHEREAS, the Town Council has reviewed the revised estimated revenues and expenditures for 2004; and WHEREAS, the Town Council fords it necessary to amend the 2004 Capital Projects Fund budget to more accurately reflect the revenues and expenditures for 2004; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the budget remains in balance as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That estimated revenues and expenditures for the Capital Projects Fund is revised as follows for 2004: Original or Current Previously Proposed Amended Amended 2004 2004 Budget Budget Capital Proiects Fund Beginning Fund Balance $ 3,597,755 $ 4,112,193 Revenues and Other Sources 2,452,788 2,745,569 Expenditures and Other Uses 3,163,292 1,733,292 Ending Fund Balance $ 2,887,251 $ 5,124,470 1 Section 2. That the Capital Projects Fund budget, as submitted, amended, and hereinabove summarized, hereby is approved and adopted as the capital program budget of the Town of Avon for the year stated above. Section 3. That the Capital Projects Fund budget hereby approved, amended, and adopted shall be signed by the Town Manager and made part of the public record of the Town. ADOPTED this 9th day of November, 2004. ATTEST: Patty McKenny Town Clerk TOWN OF AVON, COLORADO Albert D. Reynolds, Mayor 2 RESOLUTION NO. 04-42 SERIES OF 2004 A RESOLUTION TO ADOPT THE 2005 TOWN OF AVON BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND AND ADOPTING A BUDGET FOR THE TOWN OF AVON, COLORADO, FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2005, AND ENDING ON THE LAST DAY OF DECEMBER, 2005 WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager to prepare and submit a proposed budget to said governing body on October 5, 2004, for its consideration; and WHEREAS, upon due and proper notice, published and posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place. A public hearing was held on October 26, 2004, and interested taxpayers were given the opportunity to file or register any comment to said proposed budget; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the budget remains in balance, as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That estimated revenues and expenditures for each fund are as follows for 2005: 2005 Proposed Budget General Fund Beginning Fund Balance $ 3,880,135 Revenues and Other Sources 10,404,024 Expenditures and Other Uses 10,380,196 Ending Fund Balance $ 3,903,963 2005 Proposed Budget Mall Maintenance Fund Beginning Fund Balance $ 16,903 Revenues and Other Sources 70,609 Expenditures and Other Uses 86,491 Ending Fund Balance $ 1,021 2005 Proposed Water Fund Budget Beginning Fund Balance $ 1,055,454 Revenues and Other Sources 209,500 Expenditures and Other Uses 194,740 Ending Fund Balance $ 1,070,214 2005 Proposed Budget Debt Service Fund Beginning Fund Balance $ 13,226 Revenues and Other Sources 1,236,330 Expenditures and Other Uses 1,236,330 Ending Fund Balance $ 13,226 2005 Proposed Budget Wildridte Special Assessment Fund Beginning Fund Balance $ 6,744 Revenues and Other Sources 50,565 Expenditures and Other Uses 57,249 Ending Fund Balance $ 60 2 2005 Proposed Budget Avon Metropolitan District Fund Beginning Fund Balance $ 32,849 Revenues and Other Sources 488,083 Expenditures and Other Uses 483,203 Ending Fund Balance 37,729 2005 Proposed Budget Finance Authority Fund Beginning Fund Balance $ 568,329 Revenues and Other Sources 556,674 Expenditures and Other Uses 562,503 Ending Fund Balance $ 562,500 2005 Proposed Budget Transit Enterprise Fund Beginning Fund Balance $ 6,087 Revenues and Other Sources 1,887,562 Expenditures and Other Uses 1,885,202 Ending Fund Balance $ 8,447 2005 Proposed Budget Fleet Maintenance Internal Service Fund Beginning Fund Balance $ 104,927 Revenues and Other Sources 1,667,115 Expenditures and Other Uses 1,656,876 Ending Fund Balance $ 115,166 3 2005 Proposed Budget Equip. Replacement Internal Service Fund Beginning Fund Balance $ 1,359,753 Revenues and Other Sources 406,204 Expenditures and Other Uses 444.964 Ending Fund Balance $ 1.320.993 Section 2. That the budget, as submitted, amended, and hereinabove summarized by fund, hereby is approved and adopted as the budget of the Town of Avon for the year stated above. Section 3. That the budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 9th day of November, 2004. TOWN OF AVON, COLORADO Albert D. Reynolds, Mayor ATTEST: Patty McKenny Town Clerk 4 To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Scott Wright, Finance Director Date: November 1, 2004 Re: Capital Project Fund Budget Revisions and Adoptions and Acceptance of Long-range Capital Program Summary: The final revised Capital Projects Fund budget for 2004 and the final proposed Capital Projects Fund 2005 budget are hereby submitted for adoption by the Avon Town Council. In addition to the adoption of the above budgets, also submitted for acceptance by the Town Council is the long-range capital program (otherwise referred to as the 5-year plan). Recommendation: Staff recommends that Council adopt the revised 2004 and proposed 2005 budgets as presented, and accept the long-range capital program as submitted. Town Manager Comments: ?.'2 Attachments: A - Resolution 04-41 B - Resolution 04-43 C - Long-range Capital Program (5-year plan) Page 1 TOWN OF AVON CAPITAL PROJECTS FUND 5-YEAR PLAN Original Estimated Proposed Actual Budget Year-end Budget Projected 2010 & REVENUES 2003 2004 2004 2005 2007 2008 2009 Beyond Real Estate Transfer Tax $ 2,224,452 $ 1,350,000 $ 1,850,000 $ 2. 100,000 $ 2,300,000 $ 2,300,000 $ 1,500 000 $ 1 500 000 $ 1 500 000 Interest Earnings 33,699 44,788 37,569 46,073 28,753 38,931 , 50 005 , , 55 843 , , Intergovernmental: , , Community Development Block Grant 97,837 - - - CDOT Enhancement Funds Grant - CDOT / FHWA Transportation Center Grant - - 640,000 - 80,000 - 1,520,000 149,000 _ Confluence Metro District (Fire Station Remodel) - - Confluence Metro District (Town Center Mall) - - - - - 160,000 _ Eaglebend Housing Authority - - - 2,400,000 Village at (Avon) (Roundabout Reimbursement) 200,000 - 200,000 - 200,000 25,000 200,000 25,000 200,000 200 000 200 000 _ Village at (Avon) (E. Beaver Cr. Blvd. Right-of-Way) - 142,000 12 000 , , Utility Capital Facility Fees 444 2,000 , 2,000 2,000 - 2 000 - 2 000 130,000 2 000 1,175,000 2 000 Fireplace Fees 1,500 9,000 9,000 9,000 , 9,000 , 9,000 , 9 000 , 9 000 2,000 9 000 Other Revenues: , , , Development Reimbursements 4,029 - _ Miscellaneous 2,014 - _ - - - - Total Operating Revenues 2,563,975 2,387,788 2,190,569 3,902,073 2,873,753 2,549,931 1,891,005 2,741,843 3,911,000 Other Sources: Transfer in from Water Fund 1,186,931 65,000 555,000 140,000 860,000 1,717,000 - _ - Total Revenues and Sources of Funds $ 3,750,906 $ 2,452,788 $ 2,745,569 $ 4,042,073 $ 3,733,753 $ 4,266,931 $ 1,891,005 $ 2,741,843 $ 3,911,000 Section I, Page C-5 TOWN OF AVON CAPITAL PROJECTS FUND 5-YEAR PLAN EXPENDITURES Capital Improvements: Facilities Land and Land Improvements Roads and Streets Recreation Stormwater and Drainage Development Services Strategic Planning Communications Other Developer Rebates Total Expenditures Other Uses: Operating Transfer Out to General Fund Operating Transfer Out to Special Assessments Fund Total Expenditures and Uses of Funds Net Source (Use) of Funds Original Estimated Proposed Actual Budget Year-end Budget Projected 2010 & 2003 2004 2004 2005 2t,[G 2007 2008 2009 Beyond $ - $ 1,200,000 $ 100,000 $ 1,170,000 $ 75,000 $ $ $ $ 15 375 000 25,640 - - 400,000 - , , ,943 307,943 " 1,552,000 722,000 4,753.000 2,027,000 250,000 1,400,000 1,685,000 195,000 3,880,000 - - 100,000 - _ 1,216,270 65,000 555,000 325,000 1,717,000 - _ 97,837 18,563 110,000 120,000 25,000 25,000 25,000 25,000 25,000 125,000 3,000 247,076 175 000 - 175 000 165,000 300 000 689,000 4 229,000 229,000 229,000 229,000 , , , 00,000 400,000 - 1,916,329 3,102,000 1,672,000 6,813.000 3,641,000 2,621,000 1,654,000 1,939,000 19,804,000 200,000 50,000 50,000 50,000 50,000 50,000 50,000 50,000 50 000 12,271 11,292 11,292 , 10,311 _ - 2,128,600 3,163,292 1,733,292 6.873,311 3,691,000 2,671,000 1,704,000 1,989,000 19,854,000 1,622,306 (710,504) 1,012,277 (2,831,238) 42,753 1,595,931 187,005 752,843 (15,943,000) Fund Balance, Beginning of Year 2,489,887 3,597,755 4,112,193 5,124,470 2,293,232 2,335,985 3,931,916 4,118,921 4,871,764 Fund Balance, End of Year $ 4,112,193 $ 2,887,251 $ 5,124,470 $ 2,293,232 $ 2,335,985 $ 3,931,916 $ 4,118,921 $ 4,871,764 $ (11,071,236) Section I, Page C-6 TOWN OF AVON CAPITAL PROJECTS INVENTORY 5-YEAR PLAN Original Estimated Proposed Actual Budget Year-end Budget Projected 2010 & CAPITAL IMPROVEMENT PROJECTS 2003 2004 2004 2005 2007 2008 2009 Beyond Facilities Information Kiosks / 1-70 $ $ $ $ $ $ Town Center Mall[Town Center Plan Implementation 1,200,000 100,000 $ $ 1.100 000 $ 100,000 Municipal Government Space Needs Analysis - - - , - 2,000,000 Municipal Parking Facilities - 25,000 Public Works -Equipment Storage & Shop Space - - - " - 7,000,000 Public Works - Administration Building - - - - 750,000 Recreation Center - Phase II Expansion 1,500,000 Wildridge Pavilion 3,500,000 Council Chambers Audio/Video Upgrade - 500,000 Nottingham Lake Pump Station Expansion - - 70,000 _ 7 " Land and Land Improvements Parks: Wildridge Park Improvements & Playground Wildridge Pocket Park - New Block 5 _ Wildridge Pocket Park - New Block 3 or 4 _ _ Tract J Bridge Removal 25,640 Roads and Streets Streetscape: Eaglebend Dr. _ _ Nottingham Rd. Imp., 1-70 to Buck Creek - 340,000 340,000 Nottingham Rd. Imp., Buck Creek to Metcalf Rd. 1,902 - _ Avon Road Pedestrian Bridge _ East Avon Redevelopment (Main St. Extension) - _ _ Street Improvements: Paving/Road Improvements 225,650 205,000 205,000 E. Beaver Creek Blvd Improvements - 142,000 12,000 Metcalf Road Improvements _ _ _ Buffalo Ridge Commitments 56.941 - 5,000 _ 150,000 250.000 150,000 45,000 40,000 380,000 _ 2,210,000 - 168,000 1,347,000 500,000 - - - 2,000,000 300,000 300,000 250,000 250,000 250,000 250,000 - - - 130,000 1,175,000 1,000,000 - Section I, Page C-7 TOWN OF AVON CAPITAL PROJECTS INVENTORY 5-YEAR PLAN CAPITAL IMPROVEMENT PROJECTS Multi-Modal/Alternative Mobility East Avon Access and Circulation Eagle River Bikepath - B/C Blvd. To Confluence Wiidridge - Emergency / Bike Access Wildridge - Traffic Calming & Pedestrian Circulation Transportation Center Swift Gulch Rd. Bikepath from RA # 1 Swift Gulch Rd. Bikepath Extension to Village RA Tract J Bridge over Eagle River Original Estimated Proposed Actual Budget Year-end Budget 2003 2004 2004 2005 18,126 _ 5,324 20,000 20,000 135.000 - 800,000 100,000 1,900,000 45,000 45,000 Projected 2010 & 2007 2008 2009 Beyond 850,000 20,000 260,000 - - 280,000 Recreation Eagle River Whitewater Park, Access & Viewing Stormwater & Drainage Metcalf Road Drainage Buck Creek / 1-70 to Eagle River Metcalf Drainage I-70 to Eagle River Metcalf Drainage 1-70 to Nottingham Road W. Beaver Creek Blvd. Drainage 1-70 to Railroad Nottingham-Puder Ditch Restoration Development Services Buffalo Ridge Strategic Planning Comprehensive Plan 100,000 - 285,000 1,216,270 65,000 405,000 _ - 40,000 - 150,000 _ 97,837 _ 1,517,000 200,000 Planning and Consulting 85,000 95,000 - 18,563 25,000 25,000 25,000 25,000 25 000 25 000 25 000 3-D Zoning & Retail Plan - Core Area _ - _ , , , 25,000 " - - 100,000 Communications Other Fireplace Conversions 3,000 _ Lighting Study & Conversion - Water Rights Acquisition - 204,000 204,000 204,000 204,000 204,000 Historic Preservation - 140,000 460,000 - - 25,000 25,000 25,000 25,000 25,000 25,000 Total Capital Improvement Projects $ 1,669,253 $ 2,927,000 $ 1,497,000 S 6.513,000 3,241,000 $ 2,221,000 $ 1~654,00~0_ $ 1,939,000 $ 19,804,000 Section I, Page C-8 RESOLUTION NO. 04-43 SERIES OF 2004 A RESOLUTION TO ACCEPT THE PROPOSED TOWN OF AVON LONG RANGE CAPITAL PROGRAM AND SIMULTANEOUSLY ADOPT THE YEAR 2005 CAPITAL PROJECTS FUND BUDGET A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR THE CAPITAL PROJECTS FUND AND ADOPTING A BUDGET FOR THE CALENDAR YEAR BEGINNING ON THE FIRST DAY OF JANUARY, 2005, AND ENDING ON THE LAST DAY OF DECEMBER, 2005. WHEREAS, the Town Council of the Town of Avon has appointed the Town Manager to prepare and submit a long-range capital program to said governing body for its consideration; and WHEREAS, the Town Council of the Town of Avon has also appointed the Town Manager to prepare and submit a proposed Capital Projects Fund budget to said governing body for its consideration; and WHEREAS, upon due and proper notice, published and posted in accordance with the law, said proposed budget was open for inspection by the public at a designated place. A public hearing was held on October 26, 2004, and interested taxpayers were given the opportunity to file or register any comment to said proposed budget; and WHEREAS, whatever increases may have been made in the expenditures, like increases were added to the revenues so that the Capital Projects Fund budget remains in balance, as required by law. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That the long-range capital program as submitted to the Town Council is hereby accepted as an official Town document and planning tool, and that the information contained therein may be revised or extended each year with regard to capital improvements. Section 2. That estimated revenues and expenditures for the Capital Projects Fund are as follows for 2005: 1 2005 Proposed Budget Capital Projects Fund Beginning Fund Balance $ 5,124,470 Revenues and Other Sources 4,042,073 Expenditures and Other Uses 6,873,311 Ending Fund Balance $ 2,293.232 Section 3. That the budget, as submitted, and hereinabove summarized, hereby is approved and adopted as the Capital Projects Fund budget of the Town of Avon for the year stated above. Section 4. That the Capital Projects Fund budget hereby approved and adopted shall be signed by the Mayor and made part of the public record of the Town. ADOPTED this 9th day of November, 2004. TOWN OF AVON, COLORADO Albert D. Reynolds, Mayor ATTEST: Patty McKenny Town Clerk 2 Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager/ Jacquie Halburnt, Asst. Town Manager From: Patty McKenny, Town Clerk Date: November 4, 2004 Re: Veteran's Day Proclamation Summary: Since next Thursday is Veteran's Day, it was thought appropriate to recognize this federal holiday in honor of the Veteran's of the United States with a Proclamation. Town of Avon, State of Colorado Veteran's Day Proclamation Whereas, over two hundred years ago, the signers of the Declaration of Independence declared that "all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness"; Whereas, throughout the course of American history, courageous men and women have taken up arms to secure, defend, and maintain these core principles upon which freedoms depend; Whereas, the men and women who have and currently are serving in the Army, Navy, Air Force, Marines, and Coast Guard of the United States of America have made major contributions toward the preservation of this Nation and her people; Whereas, the Congress of the United States of America has designated the eleventh day of November of each year as Veterans Day and it has become a significant part of our American heritage as we recognize the millions of our citizens whose military service has had a profound effect on history; Whereas, the Nation and the free world are eternally grateful for the contributions of American veterans - men and women - to the advancement of the cause of an honorable world peace. Now, Therefore, the Town Council of the Town of Avon, State of Colorado, hereby proclaims November 11, 2004 as Veterans Day and calls upon all citizens to join the Town in recognizing and honoring those who have served and are serving to preserve the principles of Justice, Freedom and Democracy. Let this proclamation be entered into the official records of the Town. In Witness whereof, I have hereunto set my hand this 11th day of November 2004. Attest: Albert D. Reynolds, Mayor of Avon Patty McKenny, Town Clerk MINUTES OF THE REGULAR MEETING OF THE AVON TOWN COUNCIL HELD OCTOBER 26, 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 5:45 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 Michael Cacioppo, Speakout owner, presented some information about his newspaper and comments made from Walter Dandy, an Avon resident, about the Town advertising in the newspaper. Pastor Tom Schneider presented information about this year's Fall Fun Night on October 31 st from 4 pm until 8 pm, a non-scary alternative for Halloween activities for young children. He noted that the event is run through nine local churches, with the lead organization as his Calvary Church. Finance Director Scott Wright presented the 2005 Town of Avon Budget and Capital Projects Budget. Mayor Reynolds opened the public hearing and with no comments, the hearing was closed. He noted that the Town Council would adopt the budget at the next meeting on November 9th with a Resolution. Copies of the budget are available at the Town offices as well as a copy at the Avon Public Library. Ordinances Town Attorney John Dunn presented Ordinance No. 04 - 16, Series of 2004, on second 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 noted that there are no changes to the Ordinance since first reading. Mayor Reynolds opened the public hearing and with no comments he closed the public hearing. A brief conversation was held on the amount of fines in Municipal Court and whether or not Court as a function should pay for itself. Councilor Sipes moved to approve Ordinance No. 04-16, Series of 2004, on second reading, An Ordinance Amending Section 2.08.040, Avon Municipal Code, Relating to the Jurisdiction of the Municipal Court. Mayor Pro Tem McDevitt 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 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. 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. Mayor Reynolds opened the public hearing. Avon Resident Tamra Underwood provided suggestions as to what should further be included in the agreement, i.e. a deadline of no later than 2009 on Phase IV of the East Beaver Creek Blvd, road improvements which might in turn force him to plan that area of town. Staff commented that the agreement states that before the Village can subdivide any of the properties of A-F and H-J, that they need to complete the Phase IV improvements of East Beaver Creek Blvd. - beginning at the west end of East Beaver Creek Blvd through to Post Blvd. There currently does not exist in this agreement a reference date of Phase IV; a date that does not exist in the original agreement either. Some discussion ensued about the idea of master planning the area and the pros and cons of including such a deadline. Most members expressed that they did not see this as the appropriate time for further negotiating the specifics of the project especially in light of the fact that the Town approached the developer for this change. Avon resident Kristi Ferraro expressed concern about when payment would be made to the town. Town Attorney Dunn noted that the agreement does provide a commencement date of July 1, 2004, language that is enforceable. Further clarification was made that since the payment date is mid year an audit would be made at year- end and an effort would be made to reconcile if the payment received did not meet the actual cost of services. With no further comments, Mayor Reynolds closed the public hearing. Councilor D. Buckley moved to approve Ordinance No. 04-17, Series of 2004, on second reading, An Ordinance Approving The Third Amendment (The "Third Amendment") To The Annexation And Development Agreement For The Village (At Avon). Mayor Prop Tem seconded the motion and it passed unanimously with a roll call vote. Finance Director Scott Wright presented 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. He noted that the refunding of the Series of 1997 General Obligation Bonds were issued to finance the construction of the roundabouts to potentially save approximately $20K per year in debt service payments. He also noted that a reduction of the mill rate would result in a direct savings to the Avon citizens. If interest rates change after the election, the Town would decide not to proceed with the refunding. Second reading would be in two weeks and David Bell would be at the meeting to answer questions at that time. Further specifics were outlined. Council Sipes moved to approved Ordinance No. 04- 18, An Ordinance Authorizing The Issuance Of Town Of Avon, Colorado, General Obligation Refunding Bonds, Series 2004, etc. Councilor D. Buckley seconded the motion and it passed unanimously. Regular Council Meeting Page 2 of 5 October 26, 2004 Community Development Director Tambi Katieb presented 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. He noted that Council heard the first reading of the Ordinance on May 25, 2004 and again in June and the first meeting in October. He noted that 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. He noted the following highlights of the version before them: ¦ 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 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. Council discussion ensued over the following topics: ? Business signage lighting - reviewed the public input from an earlier meeting whereby the business community asked that business signage be allowed. ? Holiday light restrictions - whether or not to allow the flashing lights and the hour at which to turn them off. ? Requirements from residential applicants on lighting plans CIP implementation plan and what priorities are changed or not - (CIP include implementation beginning in 2006 at $250K per year. ? The need to include the definition of "partially shielded" and to include clarification of #6 in Section 15.30.040 (General Outdoor Lighting Standards). ? The need to include in the "Intent and Purpose" of the Ordinance, language that addresses "light trespass". ? The need to restrict "up-lighting of trees" with the lights. ? The enforcement aspect of the ordinance as assigned to the code enforcement officer. Lights in the commercial areas are more of a problem than in the residential areas. ? Lighting levels as related to safety issues and in general how intense or bright do signs need to be with the suggestion that signs are dimmed to be safe but yet bright enough to show a presence. ? Suggested that staff review the sign code next to address any inconsistencies or areas that need revisions. Regular Council Meeting Page 3 of 5 October 26, 2004 Councilor Sipes moved to approve Ordinance No. 04-19, with the following modifications: 1. 15.30.040, D, 1. - Striking the portion of the line "flashing lights on residential properties are prohibited and" so the sentence begins with "Holiday lights shall be turned off by 11 pm° 2. Paragraph C, strike in its entirety with the recommendation that staff review the town sign code and come back with a future amendment that would address that (includes sign lighting and lighting not used for safety purposes), perhaps not even under this ordinance, but under the sign code itself. 3. 15.30.010 - move letter B) to be included in the last sentence of the "Intent and Purpose" Section. So that both "light trespass and upward projecting light" are included in that section. 4. Include a provision in here restricting upward lighting of trees. Councilor D. Buckley seconded the motion. Further clarification was made to #1 above in Section 15.30.040 to include only the residential section of town be turned off at 11 PM and not the commercial core areas of town (anything that the Town pays for the electricity). Councilor Wolfe proposed that the provisions also include a rewriting of paragraph 6 of 15.30.040 General Outdoor Lighting Standards, to make that very lucid and clear as to what the safe harbor is. Both Councilors Sipes and D. Buckley accepted the amendment. He further identified the need to define "partially shielded" and write the paragraph to be more clear in regards to what is accepted or not. It was noted that the Village at Avon would also be bound by this ordinance. Michael Cacioppo addressed the Council with regard to the Holiday lighting and the rights outlined in the first amendment of the Constitution, with the freedom of religion language. He disagreed that the Town should restrict the need to turn off lights by 11 pm. Councilor D. Buckley asked the Town's attorney to research the point. Further discussion ensued about that topic as well as the need to restrict the up-lighting of trees. Councilor Sipes asked Katieb to research if there were a timeframe and dates that the other neighbors in Eagle County were adhering to. Mayor Pro Tern McDevitt preferred to table the Ordinance due to the many revisions discussed, so he moved to table Ordinance No. 04-19, An Ordinance Amending Title 15, Municipal Code of the Town of Avon, as it relates to Outdoor Lighting Standards until next meeting to give staff an opportunity to put this in the context of the ordinance. It was noted that the motion to table takes precedence over the original motion. No second was heard on the motion. A roll call vote was then taken on the original motion and it passed with a five to one vote (McDevitt nay). Town Manager Report Town Manager Larry Brooks highlighted his participation in the National ICMA conference. Town Attorney Report Town Attorney John Dunn informed Council that the Tract Y oral arguments took place last week and he has no idea how the case will proceed. He also provided an update to Lot 61 litigation; a status conference is scheduled for December when he will ask the Court to act on this. Regular Council Meeting Page 4 of 5 October 26. 2004 Consent Agenda Mayor Reynolds asked for a motion on the Consent Agenda. Councilor P. Buckley moved to adopt the consent agenda; Mayor Pro Tern McDevitt seconded the motion and it passed unanimously. a. Approval of the October 12, 2004 Regular Council Meeting Minutes b. Colorado River Water Conservation District - Application for Eagle River Water Supply Contract 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, T5S, R81W, 6th P.M., Town of Avon, Eagle County, Colorado (Post Blvd. and Nottingham Ranch Road) There being no further business to come before the Council, the meeting adjourned at 7 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 26. 2004 Page 5 of 5 4 Memo To: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Bob Reed, Director of Public Works Date: November 3, 2004 Re: EC Regional Transportation Authority Service Agreement Summary: Attached you will find the Service Agreement between EC Regional Transportation Authority, doing business as ECO Transit and the Town of Avon. This Agreement allows parking of up to ten busses at a charge of $100.00 per month, per bus, fuel at its budgeted cost including a 10% mark up, and repair and maintenance as requested by ECO at a charge of $85.00 per man hour. Recommendation: Staff recommends approval of the agreement between EC Regional Transportation Authority and the Town of Avon. Town Manager Comments: C-I 1: Administration\Admin\Council Memos\Council Memo ECO Service Agreement.Doc i 0 SERVICE AGREEMENT THIS AGREEMENT is entered into the day of 2004, between the Eagle County Regional Transportation Authority doing business as ECO Transit ("ECO") and the Town of Avon ("Avon"): IT IS AGREED as follows: Services: During the term of this Agreement, Avon will provide the following services: (a) Parking of ten (10) buses (in a plug-in space) at a charge of $100.00 per month per bus. (b) Fuel at its budgeted cost including a 10% (ten percent) mark-up. (c) Repair and maintenance, as requested by ECO, at a charge of $85.00 per man hour starting January 1, 2005. No payment for any repair or maintenance shall be due unless ECO has approved of the work. Services may be commenced with verbal approval by ECO of a written estimate submitted by Avon. Subcontractors may perform certain repair work, for which cost of the work will be charged. Avon shall be responsible for assuring that subcontracted work is performed promptly and in accordance with this Agreement. 2. Facilities: Avon represents that its facilities are in good condition and adequately equipped and that it has a sufficient staff to perform all work in a timely manner. 3. Billing for Services: An invoice will be issued by the tenth day of each month for services performed during the previous month. Payment is due within thirty days of receipt of the invoice. 4. Term and Termination: The term of this Agreement will run from November 15, 2004, through May 15, 2005, unless sooner terminated in accordance with this Agreement. The parties desire to implement this Agreement as soon as possible. The signatories have the authority to bind Avon and ECO to the terms and conditions of this Agreement. However, continuation of this Agreement is contingent upon the subsequent ratification of the same by Avon council action and by board action of both the ECO Board and the Board of County Commissioners of Eagle County at their next regularly scheduled meetings. In the event of breach of this Agreement by either party, the other party may terminate this Agreement upon seven days written notice unless the breach is cured within the seven day period. Either party may terminate this Agreement without cause on thirty days written notice. Memo TO: Honorable Mayor and Town Council Thru: Larry Brooks, Town Manager From: Norm Wood, Town Engineer Date: November 4, 2004 Re: Amended Final Plat - The Village (at Avon) Filing 1 Resolution No. 04-46, Series of 2004, A Resolution Approving Amended Final Plat for The Village (at Avon) Filing 1, Town of Avon, Eagle County, Colorado. Summary: Eagle Valley Surveying, Inc., the Surveyor of Record and Traer Creek - RP LLC, Traer Creek Metropolitan District, Colorado Department of Transportation and the Town of Avon, the owners of the applicable portion of The Village (at Avon) Filing 1 have filed an Amended Final Plat for The Village (at Avon) Filing 1, Town of Avon, Eagle County, Colorado to cure errors on the recorded final plat in accordance with Section 16.24.060 of the Avon Municipal Code. The field measured bearings and distances were not shown for the exterior boundary on the final plat for The Village (at Avon) Filing 1 as approved by Town of Avon Resolution No. 01-33 and as subsequently recorded. The Amended Final Plat corrects this problem but slightly modifies all properties within Filing 1 that are partially bounded by the exterior boundary of Filing 1. The only properties not affected are Lot 2 (Vacant Lot), Lot 3 (Wal-Mart), Lot 4 (Home Depot), Tract E (Park between Wal-Mart & Home Depot) and Tract B (Fawcett Road). The affected properties include Lot 5 that has been deeded to the Town for a public works site. Subsequently, as an owner of affected property, the Town of Avon is also a party to the Amended Plat as well as the approving entity. All corrections are very minor with absolute minimal impact on any of the affected properties. We recommend approval of Resolution No. 04-46, A Resolution Approving Amended Final Plat for The Village (at Avon) Filing 1, Town of Avon, Eagle County, Colorado is Engineering\Avon VillageA2.0 Filing 1\2.5 Final PlatTermits & Approvals\Res 04-46 Amended Final Plat Memo.Doc I Recommendations: Approve Resolution No. 04-46, Series of 2004, A Resolution Approving Amended Final Plat for The Village (at Avon) Filing 1, Town of Avon, Eagle County, Colorado. Town Manager Comments: ? 1: Engineering\Avon Village12.0 Filing 1 \2.5 Final Plat\Permits & Approvals\Res 04-46 Amended Final Plat Memo.Doc 2 TOWN OF AVON RESOLUTION NO. 04-46 Series of 2004 A RESOLUTION APPROVING AMENDED FINAL PLAT FOR THE VILLAGE (AT AVON) FILING 1, TOWN OF AVON, EAGLE COUNTY, COLORADO WHEREAS, Eagle Valley Surveying, Inc., the Surveyor of Record and Traer Creek - RP LLC, Traer Creek Metropolitan District, Colorado Department of Transportation and the Town of Avon, the owners of the applicable portion of The Village (at Avon) Filing 1 have filed an Amended Final Plat for The Village (at Avon) Filing 1, Town of Avon, Eagle County, Colorado to cure errors on the recorded final plat in accordance with Section 16.24.060 of the Avon Municipal Code, and WHEREAS, Section 16.24.060 of the Avon Municipal Code states, "the town council may summarily grant permission to alter a final plat, by the filing of an amended plat, to cure errors caused by mistakes which do not materially alter the substance of the plat as represented to the Council." and WHEREAS, the Amended Final Plat includes the field measured bearings and distances for the exterior boundary of The Village (at Avon) Filing l; and WHEREAS, the addition of the field measured bearings and distances to the exterior boundary of The Village (at Avon) Filing 1 does not materially alter the substance of The Village (at Avon) Filing 1 Final Plat as approved by Council Resolution No. 01-33; and WHEREAS, the Amended Final Plat does not alter any terms or conditions of the original Final Plat approval; and WHEREAS, the Amended Final Plat, The Village (at Avon) Filing 1 is in conformance with Title 16, Subdivisions, in the Avon Municipal Code. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, that the Town hereby finds and determines that the Amended Final Plat for The Village (at Avon) Filing 1 is in general conformance with the Final Plat as approved by Town of Avon Resolution No. 01-33 and the Town of Avon hereby approves the same subject to completion of technical corrections as identified by Town Staff. L\Engineering'Avon VillageA2.0 Filing 1\15 Final Plat\Pennits & Approvals\Res 04-46 Amended Final Plat.Doc 1 ADOPTED THIS DAY OF NOVEMBER, 2004. TOWN COUNCIL TOWN OF AVON, COLORADO Albert D. Reynolds, Mayor ATTEST: Patty McKenny Town Clerk L'Engineering\Avon VillageA2.0 Filing 1\2.5 Final Plat\Permits & Approvals\Res 04-46 Amended Final Plat.Doc 2