TC Minutes 07-17-19900
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MINUTES OF A SPECIAL COUNCIL MEETING
HELD JULY 17, 1990 - 5:00 P.M.
The Special Meeting of the Avon Town Council of the Town of Avon,
Colorado, was held in the Municipal Building, 400 Benchmark Road,
Avon, Colorado, in the Council Chambers.
The meeting was called to order by Mayor Allan Nottingham at 5:12 p.m.
A roll call was taken with Albert Reynolds, Mike Bennett, Gloria
McRory and Jim Stovall present. Councilman Garton arrived at 5:14 p.m.
Councilman Davis was absent. Also present were Town Attorney John Dunn,
Town Manager Bill James, Director of Engineering Norm Wood, Director
of Municipal Services Larry Brooks, Town Clerk Patricia J. Doyle, as
well as members of the press and public. 41
Second reading of Ordinance NO. 90-9, Series of 1990, AN ORDINANCE
AUTHORIZING THE ISSUANCE BY THE TOWN OF AVON, COLORADO, OF TAXABLE
LOCAL ASSESSMENT BONDS IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT
OF $1,425,000, FOR LOCAL IMPROVEMENT DISTRICT NO. 1990-1; PRESCRIBING
THE FORM OF THE BONDS; PROVIDING FOR THE PAYMENT OF THE BONDS
AND THE INTEREST THEREON; AND PROVIDING OTHER DETAILS IN CONNECTION
THEREWITH.
Bill James stated that the figures had been inserted into the ordinance
and that Caughlin and Company had taken care of the sale of the bonds.
He then introduced David Bell with Caughlin and Company.
Mr. Bell approached the Council. He stated that they had taken the
bonds out to the market place and had sold a sufficient number of those
bonds. He presented the Council with a copy of the Bond Ordinance
and a copy of the Bond Purchase Agreement, which would be accepted
when the Bond Ordinance was accepted by the Council. The Principle
amount was a total of One Million Four Hundred Twenty Five Thousand
Dollars. It was a fifteen year Bond Issue with a coupon rate of
just under 11 1/2%. It was a taxable Bond Issue. He stated that they
were offering to purchase the bonds, if the Council accepted the
ordinance.
Councilwoman McRory moved approval of Ordinance NO.90-9, Series of
1990 on second reading. The motion was seconded by Councilman
Reynolds.
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The Mayor opened the meeting for public hearing. There being no one
wishing to be heard,, the Mayor closed the public hearing, and offered
this discussion back to the Council. There being no further discussion,
The Mayor entertained a roll call.
Those'_Councilmembers voting aye were: David Garton, Albert Reynolds,
Mike Bennett, Gloria McRory and Jim Stovall. There were no.nay votes.
The motion was unanimously carried.
Next on the agenda was discussion of the State Contract in respect
to the Separated Grade Crossing on Avon Road.
Mr. James stated that he and John Dunn had met with the Attorney
General's office and after several drafts of the contract, felt it
was acceptable in terms of the conditions.
Mr. James requested that Council authorize the contract subject to
Town Manager and Town Attorney final review.
John Dunn stated that he felt it was a good contract and recommended
that Council adopt the Resolution that was before them, which authorized
the project contingent upon budgeting and appropriation of sufficient
funds by the Town and the State, and it also authorized the contract
subject to final review by the Town Attorney and the Town Manager.
The Council discussed some changes of the contract, and some concerns
of-the wordage of the resolution.
After discussion, Councilman Garton moved approval of Resolution No.
90-25, Series of 1990 subject to deleting the first three words in
paragraph'l, which read, "Final design and". After the word, "Colorado"
in the first paragraph, add, "and further contingent upon approval
of final design". The motion was seconded by Councilman Reynolds
and was unanimously carried.
There being no further business to come before the Council, Councilwoman
McRory moved to adjourn. The motion was seconded by Councilman
Reynolds. The meeting was adjourned by Mayor Nottingham at 5:27 p.m.
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