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TC Minutes 07-08-19860 0 MINUTES OF THE REGULAR AVON TOWN COUNCIL MEETING HELD JULY 8, 1986 - 7:30 P.M. The regular meeting of the Town Council of the Town of Avon, Colorado, was held in the Municipal Building, 400 Benchmark Road, Avon, Colorado, in the Council Chambers. Mayor Nottingham called the meeting to order at 7:45 p.m. A roll call was taken with Clint Watkins, Steve Miller, Sheila Davis, and Al Connell present. Councilmen Buick and Wells were absent. Also present were Town Attorney John Dunn, Town Manager Bill James, Director of Engineering/Community Development Norm Wood, Director of Public Works, Parks and Recreation Larry Brooks, and members of the press and public. The Mayor called for Citizen Input. There being no citizen comment, the Mayor closed the discussion. First reading of Ordinance No. 86-16, Series of 1986, AN ORDINANCE RATIFYING ACTION HERETOFORE TAKEN; DECLARING THE NECESSITY OF MAKING PUBLIC IMPROVEMENTS IN THE TOWN; AUTHORIZING THE OBLIGATION OF THE TOWN IN THE PRINCIPAL AMOUNT OF $1,600,000; AND PRESCRIBING DETAILS IN CONNECTION WITH SUCH MATTERS. The Town Attorney presented a new edition of Ordinance No. 86-16 that contained two correction. The first correction was on page 3, in regard to the maximum amount of indebtedness, subject to the limitations of the Charter. The maximum was not $5,000,000, but 25% of the assessed valuation of the taxable property within the Town, or the sum of $15,000,000, whichever was greater. The assessed valuation of the Town, as of January 1, 1986, was $23,138,510. The amount was corrected to $15,000,000. The second change was on page 3. Section 2 wording was changed to read, "It is hereby declared that the acquisition of the improvements project will serve a public use." Mr. Dunn stated the ordinance would substitute for the ordinance adopted at the previous meeting that authorized the execution of the Shopping Center Agreement. He stated he followed the language used by Bond Counsel. It was for the purpose of defraying the cost and expense of said improvements project, including all proper incidental expenses, the Town shall obligate itself to payment of the principal amount of $1,600,000. The interest rate 0 • was not included in the ordinance because the Town does not know, at this point, the specifics of the obligation that would be entered into next year if the Shopping Center project comes on line. Mr. Dunn wanted to leave all the Town's options open for when the time comes to pay the $1,600,000. There was some concern about Section 14.8(a), "The ordinance shall state the maximum interest rate." After discussion, Mr. Dunn stated he would look into that subsection between first and second reading of the ordinance. After discussion, Councilman Miller moved approval of Ordinance No. 86-16, Series of 1986, on first reading. Councilwoman Davis seconded the motion. Councilman Watkins felt that the previous ordinance was a better one, in that it specified a maximum interest rate. Mr. Dunn differed, stating that no maximum interest rate was given in either the ordinance or the agreement. A roll call vote was taken. Councilmembers voting "aye" were Al Connell, Sheila Davis, and Steve Miller. Councilman Watkins voted "nay". Councilman Watkins stated it would take a two-thirds vote of the entire Council to approve this ordinance, since it was dealing with bond issues. Mr. Dunn agreed. The motion to approve the ordinance was denied. First reading of Ordinance No. 86-17, Series of 1986, AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF UP TO $2,700,000 AGGREGATE PRINCIPAL AMOUNT OF THE TOWN'S SPORTS FACILITIES REVENUE REFUNDING BONDS, EXECUTION AND DELIVERY OF A SPORTS FACILITIES REFINANCING AGREEMENT WITH BEAVER CREEK ASSOCIATES, INC., AND RELATED DOCUMENTS; AUTHORIZING AND DIRECTING THE EXECUTION AND DELIVERY OF SUCH BONDS; PROVIDING FOR THE PRINCIPAL AMOUNT, NUMBERS, PROVISIONS FOR REDEMPTION AND MATURITIES OF, AND RATES OF INTEREST ON, THE BONDS, AND AUTHORIZING CERTAIN TERMS TO BE DETERMINED BY SUBSEQUENT RESOLUTION; DETERMINING REVENUES TO BE PAID FOR SUCH PROJECT; AUTHORIZING INVESTMENTS; APPROVING COUNSEL; AUTHORIZING INCIDENTAL ACTION; CALLING A SPECIAL PUBLIC HEARING; AND REPEALING INCONSISTENT ACTIONS. Mr. Dunn reviewed the history of the Beaver Creek Sports and Recreational Facilities project with Council. He stated that, in 1981, Council approved Sports Facilities Revenue Bonds in the amount of $2,700,000. Mr. Dunn stated that the purpose of this ordinance was to call in those bonds and to issue new bonds to pay the old bonds off, thereby affecting a re-financing of the project. He stated that the ordinance was submitted by Bond Counsel, but he had reviewed it and it met with his approval. He stated there was a special public hearing, required under Tiffra, that was scheduled for August 12, 1986, at 7:30 p.m. Mr. Dunn -2- 0 • stated there were additional documents to be reviewed, and he would review them by second reading. He stated he would be reimbursed by Vail Associates for his time. Jerry Flynn, Vice President of Finance for Vail Associates, approached the Council. He stated this was the first opportunity they had to redeem the bonds with the bond holders. September 1, 1986, would be the 5th anniversary date. He stated the bonds were in the process of being redeemed at this time. The new bond holder would be the Republic Bank of Dallas. The bond holder had committed to a floating rate of 73% prime plus 1/2. It would be between 6-1/2% and 7%. Councilman Watkins moved approval of Ordinance No. 86-17, Series of 1986, on first reading. Councilman Miller seconded the motion. Those Councilmembers voting "aye" were Clint Watkins, Steve Miller, Sheila Davis, and Al Connell. There were no "nay" votes. The motion carried unanimously. Mr. Dunn reported on the new lease for Avon jail space between the Town of Avon and Colorado West Recovery Center. Mr. Dunn stated a letter was received from Keddie Brooks, Director of the Center, indicating that Mountain Rivers Addictions Rehabilitation Unit would close and, on July 1, 1986, Colorado West Recovery Center would open, providing the same services as were provided by Mountain Rivers. The Avon program's insurance had been carried by Colorado West since its inception, so there would be no change or break in insurance coverage. Councilwoman Davis moved to authorize the Mayor to sign the Agreement between the Town of Avon and Colorado West Recovery Center. Councilman Miller seconded the motion, and it carried unanimously. Mr. James reported on the study of full-time, in-house legal counsel. He stated he had surveyed a number of municipalities, based on general services the Town receives and not on litigation. He stated that most municipalities employ independent firms and do not have an in-house attorney. Avon's Charter requires that Avon's attorney have five years experience. Mr. James felt that Avon's billings were in line, and recommended continuing with the present system. Councilman Watkins requested that the bills continue to be monitored, and that other alternatives be explored from time to time. He stated he never suggested looking into a full-time in-house attorney, only a part-time attorney. After discussion, Council agreed to explore other alternatives from time to time. -3- Mr. James requested that Council schedule a work session, on July 15, 1986, at 5:30 p.m., to meet with the Planning and Zoning Commission. The purpose of the meeting would be to review the new school proposed for Tract P, and to discuss how the Town could cooperate with the school district as regards putting in community facilities. Mr. James stated he would contact the school district verbally to inform them of the meeting on that Tuesday. Councilman Watkins so moved. Councilman Connell seconded the motion, and it carried unanimously. The Financial Matters were next presented to Council. Councilman Watkins moved to receive items #1 through #11. Councilman Miller seconded the motion, and it carried unanimously. There was some discussion of a Real Estate Transfer Tax payment in the amount of $10.00. It was concluded that the amount for this transaction was correct. Councilman Miller moved approval of the General Fund Accounts Payable for July 8, 1986. Councilman Watkins seconded the motion, and it carried unanimously. There was some discussion on Planning Consultant Jim Lamont's billings. Mr. James stated he had reviewed the billings with Mr. Lamont, and has rearranged Mr. Lamont's time with staff to eliminate some of the charges. He had also reorganized some of Mr. Lamont's work. Councilman Miller moved approval of the Transit Fund Accounts Payable for July 8, 1986. Councilman Watkins seconded the motion, and it carried unanimously. Councilman Miller moved approval of the Reconciliation Sheet of Accounts Payable for July 8, 1986. Councilman Connell seconded the motion, and it carried unanimously. The minutes of the June 24, 1986, Council meeting were next presented to Council. Councilman Miller moved approval of the June 24th meeting minutes, as presented. Councilman Connell seconded the motion. Councilman Watkins pointed out an apparent omission in the -4- minutes. On page 4, third line, add, "Councilman Watkins moved approval of Ordinance No. 86-14, Series of 1986, on second reading. The motion was seconded by Councilman Miller." At this point, Councilman Miller amended his motion to include the correction. Councilman Connell amended his second, and the motion to approve the June 24th minutes carried unanimously. Councilman Connell reported on the feasibility of a Television District. He stated that the cost for such a facility, based on assessed valuation of various properties, was 1/25 of a mill, which would cover expenses. Councilman Connell stated he would keep Council abreast of the issue. Councilman Connell moved to authorize staff to pursue the return of funds contributed by the Town to the Police Department's FPPA Insurance, and to approve a maximum amount of $5,000 for legal services. Councilman Miller seconded the motion, and it carried unanimously. Council agreed to extend the advertisement for a replacement for Councilman Wells until the end of July, to interview those applicants at the August 12th work session, and to appoint a replacement at that time. There being no further business to come before the Council, Councilwoman Davis moved to adjourn. Councilman Miller seconded the motion. Mayor Nottingham adjourned the meeting at 8:29 p.m. spec Cully Submitte . tricia J. Q e, Town C r -5-