TC Resolution 23-15 Approving a Use Tax Agency FundA
Avon
COLORADO
RESOLUTION NO.23-15
APPROVING A USE TAX AGENCY FUND
WHEREAS, the Town of Avon, Colorado ("Town") is a home rule municipality and political
subdivision of the State of Colorado ("State") organized and existing under a home rule charter
("Charter") pursuant to Article XX of the Constitution of the State; and
WHEREAS, on May 9, 2023, the Town entered into a public improvement fees collection
services agreement (Agreement) with The Village (at Avon) Commercial Public Improvement
Company, The Village (at Avon) Mixed -Use Public Improvement Company, and Traer Creek
Metropolitan District, for collection of the PIF (Public Improvement Fee) and Add -On PIF on
construction materials; and
WHEREAS, the Agreement provides that, upon collection, the Town will place the PIF and Add -
On PIF into an Agency Fund in order to accurately and efficiently account for the PIF and Add -
on PIF prior to the distribution of such monies to the appropriate parties; and
WHEREAS, the accounts of an Agency Fund only consist of assets and liabilities and is not a
budgeted fund.
NOW THEREFORE, THE TOWN COUNCIL, HEREBY RESOLVES:
Section 1 A Use Tax Agency Fund is established for the collection of the Village at Avon PIF
Retail Sales Fee and the Add -on PIF as it relates to construction materials.
Section 2 The Use Tax Agency Fund will be included as part of the Town of Avon reporting
entity for purposes of financial reporting.
ADOPTED JULY 25, 2023 by the AVON TOWN COUNCIL
By: Attest:
Am Phillips, Mayor
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