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TC Ord. No. 1980-06Recor4ad at 2:30 p.m. June 11, 1980 Fee $14.00 ®314 #Johnnette Phillips', Eagle CounfRecorder Book 303 Page 928 TOWN OF AVON ORDINANCE NO. 6 SERIES OF 1980 NC,/ AN ORDINANCE REPEALING ORDINANCE NUMBER 8, SERIES OF 1978; IMPOSING A TAX UPON THE TRANSFER OF INTERESTS IN REAL PROPERTY; SETTING OUT THE TRANSACTIONS SUBJECT TO THE TAX AND THE PERSONS RESPONSIBLE FOR THE PAYMENT THEREOF; DEFINING CERTAIN TERMS AS USED HEREIN; SETTING OUT THE METHOD BY WHICH THE AMOUNT OF THE TAX IS COMPUTED; PROVIDING FOR CERTAIN EXEMPTIONS TO THE IMPOSITION OF THE TAX; E-STABLISHING PROCEDURES FOR FILING AN APPLICATION FOR EXEMPTION FROM THE TAX; SETTING OUT THE DATES, PENALTIES AND RATES, OF,cINTEREST:••:_ WHICH APPLY AND DEFINING DELINQUENCY WITH RESPECT TO PAYMENT; PRO- VIDING FOR A LIEN ON PROPERTY IN CASES WHERE THE TAX REMAINS UNPAID; PROVIDING A PENALTY FOR THE VIOLATION HEREOF; AND PROVIDING FOR ADDITIONAL DETAILS IN RELATION THERETO. WHEREAS, the Town of Avon (the "Town") is experiencing activity in the areas of land sales, land development, residen- tial and commercial building construction and sales; and WHEREAS, these activities are increasing the demand for municipal services to provide for the health, safety and well-being of residents of the Town; and WHEREAS, there is a need for additional revenues to fund increased municipal services; and WHEREAS, the-benefits to be provided under this ordinance will accrue to those persons who are taxed hereunder; NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, THAT: Section 1. Title. This Ordinance shall be known and may be cited as "The Town of Avon Real Property Transfer Tax Ordinance". Section 2. Repeal of Prior Ordinance. At the time this Ordinance becomes effective, Ordinance Number 8, Series of 1978, shall be-repealed in its entirety. Section 3. Imposition of Tax. Except as provided in Section 7 hereof, there is hereby imposed a tax on all transfers of interests or possessory rights in and to real estate located in the Town by deed, lease, assignment of lease, agreement for sale of stock or contract. The tax hereby imposed is and shall constitute a tax payable with respect to the transfer, and the tax is due and payable at the time of the transfer. Section 4. Persons Liable for Tax. Any purchaser or purchasers, or any other transferee.or transferees ,of•realrproperty- the tran•sfe'r of'-which is' subject to the imposition of the tax des- cribed in Section 3 above, shall be jointly and severally liable for the payment of the tax. Section 5. Definitions. With reference to this ordinance and the interpretation hereof, the following terms shall have the meanings specified: A. "Consideration" means and includes the actual cash paid and/or value of the property delivered, or contracted to be paid or delivered, in return for the transfer of ownership or title to, or any other possessory interest in, real property and shall -1- 0 a include the amount of any lien, mortgage, contract indebtedness or other encumbrance, either given to secure the purchase price, or any part thereof, or remaining unpaid on the property at the time of sale. The term does not include the amount of any outstanding lien or encumbrance in favor of the United States, the State of Colorado or of a municipal or quasi-governmental agency, corporation or district for taxes, special benefits or improvements. In the event that the transaction or transfer is by lease agreement not specifically exempted in Section 7, the consideration shall be computed based upon the capitalization or the current annual rental for ten years, plus any additional consideration, paid or to be paid. When it is not possible to determine the average annual rental, the tax shall be based upon the appraised value of the property covered by the lease, and this decision, that the average annual rental cannot be determined, shall be solely at the discretion of the Town Manager. B. "Person" means any individual, corporation, busi- ness trust, estate, trust, partnership, association or other legal entity. C. "Town Manager" means the person appointed pursuant to Section 8.1 or Section 8.2 of the Charter for the Town or, if the office of Town Manager is vacant, the Mayor pursuant to Section 8.1 of the aforementioned Charter. D. "Transfer" means any grant, conveyance or alienation of real property, as evidenced by any deed, instrument of convey- ance or exchange, or any other writing wherein or whereby title to real property is granted, conveyed or alienated, or the conveyance of a possessory interest including any other indicia of ownership without the passing of legal title. E. "Real property" means property other than personal property as defined by the statutes of the State of Colorado, and does not include trailers or mobile homes except trailers or mobile homes, which, by way of a foundation, have become attached as fix- tures to the land on which they are located. Section 6. Computation of Tax. The amount of tax payable shall be determined and computed as set out below. A. Where the amount of consideration is $500.00 or less, no Real Property Transfer Tax shall be imposed, and all such trans- actions shall be exempt. B. Where the consideration is $500.00 or more the Real Property Transfer Tax shall be l% of the consideration. Section 7. Exemptions. The Real Property Transfer Tax shall not apply to the situations described below: A. Any transfer wherein the United States or any agency or instrumentality thereof, the State of Colorado, any county, city and county, municipality, district or other political subdivi- sion of the State of Colorado is either the grantee or grantor. B. Any transfer granting or conveying title to real property in consequence of a gift of such property, where no con- sideration other than love and affection, charity or other such mo- tive is in fact, present. C. Any decree or agreement partitioning, terminating or evidencing termination of a joint tenancy in real property except where additional consideration is paid in connection with such partition or termination. D. The transfer of title or interest in real property by reason of death, will or decree of distribution. -2- E. Transfers made pursuant to business organization, reorganization or restructuring. F. Transfers made to effectuate any plan confirmed or ordered by any court of competent jurisdiction under the Bankruptcy Act or in any equity receivership proceeding. G. Any transfer evidenced by a deed made and delivered without consideration for the purpose of confirming, correcting, modifying or supplementing a transfer previously recorded; making minor boundary adjustments; removing clouds of title; granting ease- ments, rights-of-way or licenses. H. Any transfer granting title to cemetery lots. I. Any transfer by decree or order of court of record quieting, determining or resting title, including a final order awarding title pursuant to a condemnation proceeding. J. Any lease or other instrument or contract which transfers to the transferee a possessory right in real property where the possessory right is granted for a period of 25 years or less or where, at the time of assignment thereof, 25 years or less of the term remains. For purposes of this ordinance, where the initial term of the possessory right is for a period of less than 25 years, but such right may be extended for a period exceeding 25 years, or for periods which in the aggregate exceed 25 years, the term of the possessory right shall be calculated as including the initial term and all extensions thereof. K. Any transfer of a mineral or royalty interest by deed or otherwise. L. Transfers to secure a debt or other obligation, or transfers of releases of property which is security for a debt or orther obligation. M. Any transfer by deed or conveyance under execution sale or foreclosure sale under a power sale of court decree of lien foreclosure, sheriff's deed, public trustee's deed or treas- urer's deed. N. Any sale or conveyance of real property or improve- ments for the purpose of constructing or providing low or moderately priced housing units for sale or lease to low or moderate income persons. Provided, that the parties to the transaction shall apply to the Town Manager for the exemption prior to the occurrence of the transaction from which exemption is sought, and the parties shall agree to appropriately restrict the future use of the property to low and moderately priced housing units by recorded agreement, deed restriction, covenants, declarations or similar instruments as may be required,by the Town Manager. Section S. Application for Exemption. In the event that any transfer which is exempt from the Real Property Transfer Tax does not reflect that exemption clearly in the document evidencing the transfer, the grantee may apply for a Certificate of Exemption from the Town Manager, which Certificate of Exemption may be affixed to the document evidencing such transfer. The Certificate of Exemp- tion shall be in the following form: -3- i• ' 0 TOWN OF AVON conveyance from APPLICATION FOR EXEMPTION FROM REAL PROPERTY TRANSFER TAX The undersigned, as Grantee of a deed or instrument of (name of Grantee), dated 0 to hereby applies for exemp- tion from the payment of the Avon Real Property Transfer Tax, im- posed by Ordinance No. ,Series of 1980, of the Town of Avon. The basis for such requested exemption is: (State grounds for requested exemption, including applicable section and subsection of the Real Property Transfer Tax Ordinance under which the exemption is requested. Attach sup- porting documents, if necessary for full under- standing of transaction, preferably Affidavit, setting out additional details concerning the transaction for which exempt status is being requested.) I hereby certify under penalty of perjury that the fore- going statement is true and correct. Grantee CERTIFICATE OF EXEMPTION I hereby certify that the above described transfer of real property is exempt from the payment of the Avon Real Property Transfer Tax under Ordinance No. Series of 1980, Section Town Manager A failure by the Town Manager to act upon the application within seven business days after receipt of the application shall be conclusively deemed to constitute approval of such application. Any person whose claim of exemption is denied may immediately ap- peal to the Avon Town Council for a determination of such exemption and such appeal shall be considered by the Town Council within 30 days of the receipt of the Notice of Appeal. A failure by the Town Council to hear and decide the matter within 30 days shall operate as a decision favorable to the party appealing. -4- Section 9. Lands Affected. When a transaction subject to this ordinance includes property located within the Town and property located outside the Town, the tax imposed under this Ordinance shall be computed only upon the consideration attribu- table to the real property located within the Town. - Section 10. Town Manager to Enforce. The Town Manager is charged with the enforcement of the provisions of this Ordinance. All banks, title companies, escrow companies, saving and loan institutions, attorneys, real estate brokers and salespersons and other closing agents, permitted to do business as such under the laws of the State of Colorado, are hereby authorized to collect and remit to the Town on behalf of the purchaser, the Avon Real Property Transfer Tax. Section 11. Due Dates, Delinquencies, Penalties and Interest. The tax imposed under this Ordinance is due and payable at the time the deed, instrument or writing effecting a transfer subject to the tax is delivered, and is delinquent if unpaid within 30 days thereafter. In the event that the tax is not paid prior to becoming delinquent, a delinquency penalty of 10% of the amount of tax due shall accrue. In the event a portion of the tax is unpaid prior to becoming delinquent, the penalty shall only accrue as to the portion remaining unpaid. Interest shall accrue at the rate of 1% per month, or fraction thereof, on the amount of tax, exclusive of penalties, from the date the tax becomes delinquent to the date of payment. Interest and penalty accrued shall become part of the tax. Section 12. Lien. A. The amount of the Real Property Transfer Tax im- posed by this Ordinance, and penalty and interest due thereon, is hereby assessed against the property transferred, and if not paid when due, such tax, penalty and interest, if any, shall constitute a lien on the property for the amount thereof, which lien shall continue until the amount thereof is paid or until its discharge of record by foreclosure or otherwise. B. If the tax is unpaid and delinquent, the Town Mana- ger shall give written notification to the purchaser at the address shown on the deed or instrument, or his last known address, of said delinquency. Said notification shall be mailed certified or registered mail, postage prepaid, return receipt requested, and shall be effective on the date of mailing. If the tax, penalty and interest are not paid within thirty days of the effective date of the notification, the Town Manager shall mark the same delinquent on the Town's tax roll and shall, at least once each calendar year, but not sooner than the first day of December, certify such delin- quencies, along with the interest and penalty, to the Treasurer of Eagle County, Colorado; and the County Treasurer shall extend such delinquencies upon the real property tax rolls of the County and collect the same in the same manner as delinquent general taxes levied upon such property. Upon certification of the delinquent taxes, the penalties and interest thereon shall also become due and payable. C. The amount of the tax penalty and interest imposed under the provisions of this ordinance shall be deemed a debt owed to the Town. Any person owing money to the Town under the provi- sions of this Ordinance shall be liable to an action brought in the name of the Town for the recovery of such amount. -5- D. Any due hereunder may imprisonment for fine and imprison E. Any and not exclusive provided by law. person who shall fail or refuse to pay any tax be punished by a fine not exceeding $300.00 or a period of not more than 90 days, or both such nent. remedies provided for herein shall be cumulative and shall be in addition to any other remedies Secion 13. Severability. If any provision, clause, phrase or section of this Ordinance or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions, clauses, phrases or sections or appli- cations of the Ordinance which can be given effect without the invalid provisions or applications and to this end the provisions or appli- cations of this Ordinance are declared to be severable. Section 14. Allocation of Revenue. All revenues derived from the tax imposed pursuant to tHl's Ordinance shall be divided as follows: (a) 50% of said revenues shall be deposited in the General Fund of the Town; and (b) 50% of said revenues shall be deposited into the Public Works Fund of the Town for the purpose of capi- tal improvements, including, but not limited to, railroad crossings, bridges and streets; payment of principal of, premium, if any, and interest on debt incurred by the Town relating to capital improvements, or upon determination of an emergency by majority vote of the entire Town Council, for any valid municipal purpose. INTRODUCED, READ AND PASSED ON THE FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL, THIS r-k DAY OFI~ 1980, AND A PUBLIC HEARING ON THIS ORDINANCE SHALL BE HELD AT THE , MEETING OF THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, ON THE 25th DAY OF , 1980, AT 7:30 P.M. IN THE MUNICIPAL OFFICES OF THE TOWN. ATTEST: Patricia J. Pyle, o n Clerk r Angelo V/. Alpi, Mayor INTRODUCED, READ AND PASSED ON SECOND READING, APPROVED, AND ORDERED PUBLISHED THIS f~- DAY OF_7~,~/LlCJ1980 r A n,4elo Alpi, May r ATTEST: Patricia J. yle, T wn Clerk STATE OF COLORADO ) COUNTY OF EAGLE ) SS TOWN OF AVON ) NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, AT 7:30 P.M. ON THE 25th DAY OF MARCH, 1980 AT THE TOWN HALL FOR THE PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE N0.#80-6, SERIES OF 1980: AN ORDINANCE REPEALING ORDINANCE NUMBER 8, SERIES OF 1978; IMPOSING A TAX UPON THE TRANSFER OF INTERESTS IN REAL PROPERTY; SETTING OUT THE TRANSACTIONS SUBJECT TO THE TAX AND THE PERSONS RESPONSIBLE FOR THE PAYMENT THEREOF; DEFINING CERTAIN TERMS AS USED HEREIN; SETTING OUT THE METHOD BY WHICH THE AMOUNT OF THE TAX IS COMPUTED; PROVIDING FOR CERTAIN EXEMPTIONS TO THE IMPOSITION OF THE TAX; ESTABLISHING PROCEDURES FOR FILING AN APPLICATION FOR EXEMPTION FROM THE TAX; SETTING OUT THE DATES, PENALTIES AND RATES OF INTEREST WHICH APPLY AND DEFINING DELINQUENCY WITH RESPECT TO PAYMENT; PRO- VIDING FOR A LIEN ON PROPERTY IN CASES WHERE THE TAX REMAINS UNPAID; PROVIDING A PENALTY FOR THE VIOLATION HEREOF; AND PROVIDING FOR ADDITIONAL DETAILS IN RELATION THERETO. A copy of said Ordinance is attached hereto and is also on file at the office of the Town Clerk and may be inspected during regular business hours. Following this hearing, the Council may consider final passage of this Ordinance. % This notice given and published by order of the Town Council of the Town of Avon, Colorado. Dated this 14th day of March, 1980. POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON 14ARCH 17, 1980. THE NORTHEAST SIDE OF THE BENCHMARK SHOPPING CENTER, AVON POST OFFICE THE MAIN ENTRANCE OF EAGLE VALLEY BOWL THE PESTER GAS STATION; AND THE TOWN OFFICE, SECOND FLOOR, BENCHMARK SHOPPING CENTER C~lq ti e a 1 ♦ r TOWN OF AVON ORDINANCE NO. 6 SERIES OF 1980 AN ORDINANCE REPEALING ORDINANCE NUMBER 8, SERIES OF 1978; IMPOSING A TAX UPON THE TRANSFER OF INTERESTS IN REAL PROPERTY; SETTING OUT THE TRANSACTIONS SUBJECT TO THE TAX AND THE PERSONS RESPONSIBLE FOR THE PAYMENT THEREOF; DEFINING CERTAIN TERMS AS USED HEREIN; SETTING OUT THE METHOD BY WHICH THE AMOUNT OF THE TAX IS COMPUTED; PROVIDING FOR CERTAIN EXEMPTIONS TO THE IMPOSITION OF THE TAX; ESTABLISHING PROCEDURES FOR FILING AN APPLICATION FOR EXEMPTION FROM THE TAX; SETTING OUT THE DATES, PENALTIES AND RATES OF INTEREST WHICH APPLY AND DEFINING DELINQUENCY WITH RESPECT TO PAYMENT; PRO- VIDING FOR A LIEN ON PROPERTY IN CASES WHERE THE TAX REMAINS UNPAID; PROVIDING A PENALTY FOR THE VIOLATION HEREOF; AND PROVIDING FOR ADDITIONAL DETAILS IN RELATION THERETO. WHEREAS, the Town of Avon (the "Town") is experiencing activity in the areas of land sales, land development, residen- tial and commercial building construction and sales; and WHEREAS, these activities are increasing the demand for municipal services to provide for the health, safety and well-being of residents of the Town; and WHEREAS, there is a need for additional revenues to fund increased municipal services; and WHEREAS, the benefits to be provided under this ordinance will accrue to those persons who are taxed hereunder; NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, THAT: Section 1. Title. This Ordinance shall be known and may be cited as "The Town of Avon Real Property Transfer Tax Ordinance". Section 2. Repeal of Prior Ordinance. At the time this Ordinance becomes effective, Ordinance Number 8, Series of 1978, shall be repealed in its entirety. Section 3. Imposition of Tax. Except as provided in Section 7 hereof, there is hereby imposed a tax on all transfers of interests or possessory rights in and to real estate located in the Town by deed, lease, assignment of lease, agreement for sale of stock or contract. The tax hereby imposed is and shall constitute a tax payable with respect to the transfer, and the tax is due and payable at the time of the transfer. Section 4. Persons Liable for Tax. Any purchaser or purchasers, or any other transferee or transferees of real property the transfer of which is subject to the imposition of the tax des- cribed in Section 3 above, shall be jointly and severally liable for the payment of the tax. Section 5. Definitions. With reference to this Ordinance and the interpretation hereof, the following terms shall have the meanings specified: A. "Consideration" means and includes the actual cash paid and/or value of the property delivered, or contracted to be paid or delivered, in return for the transfer of ownership or title to, or any other possessory interest in, real property and shall -1- include the amount of any lien, mortgage, contract indebtedness or other encumbrance, either given to secure the purchase price, or any part thereof, or remaining unpaid on the property at the time of sale. The term does not include the amount of any outstanding lien or encumbrance in favor of the United States, the State of Colorado or of a municipal or quasi-governmental agency, corporation or district for taxes, special benefits or improvements. In the event that the transaction or transfer is by lease agreement not specifically exempted in Section 7, the consideration shall be computed based upon the capitalization or the current annual rental for ten years, plus any additional consideration, paid or to be paid. When it is not possible to determine the average annual rental, the tax shall be based upon the appraised value of the property covered by the lease, and this decision, that the average annual rental cannot be determined, shall be solely at the discretion of the Town Manager. B. "Person" means any individual, corporation, busi- ness trust, estate, trust, partnership, association or other legal entity. C. "Town Manager" means the person appointed pursuant to Section 8.1 or Section 8.2 of the Charter for the Town or, if the office of Town Manager is vacant, the Mayor pursuant to Section 8.1 of the aforementioned Charter. D. "Transfer" means any grant, conveyance or alienation of real property, as evidenced by any deed, instrument of convey- ance or exchange, or any other writing wherein or whereby title to real property is granted, conveyed or alienated, or the conveyance of a possessory interest including any other indicia of ownership without the passing of legal title. E. "Real property" means property other than personal property as defined by the statutes of the State of Colorado, and does not include trailers or mobile homes except trailers or mobile homes, which, by way of a foundation, have become attached as fix- tures to the land on which they are located. Section 6. Computation of Tax. The amount of tax payable shall be determined and computed as set out below. A. Where the amount of consideration is $500.00 or less, no Real Property Transfer Tax shall be imposed, and all such trans- actions shall be exempt. B. Where the consideration is $500.00 or more the Real Property Transfer Tax shall be 1% of the consideration. Section 7. Exemptions. The Real Property Transfer Tax shall not apply to the situations described below: A. Any transfer wherein the United States or any agency or instrumentality thereof, the State of Colorado, any county, city and county, municipality, district or other political subdivi- sion of the State of Colorado is either the grantee or grantor. B. Any transfer granting or conveying title to real property in consequence of a gift of such property, where no con- sideration other than love and affection, charity or other such mo- tive is in fact, present. C. Any decree or agreement partitioning, terminating or evidencing termination of a joint tenancy in real property except where additional consideration is paid in connection with such partition or termination. D. The transfer of title or interest in real property by reason of death, will or decree of distribution. -2- 6 0 E. Transfers made pursuant to business organization, reorganization or restructuring. F. Transfers made to effectuate any plan confirmed or ordered by any court of competent jurisdiction under the Bankruptcy Act or in any equity receivership proceeding. G. Any transfer evidenced by a deed made and delivered without consideration for the purpose of confirming, correcting, modifying or supplementing a transfer previously recorded; making minor boundary adjustments; removing clouds of title; granting ease- ments, rights-of-way or licenses. H. Any transfer granting title to cemetery lots. I. Any transfer by decree or order of court of record quieting, determining or resting title, including a final order awarding title pursuant to a condemnation proceeding. J. Any lease or other instrument or contract which transfers to the transferee a possessory right in real property where the possessory right is granted for a period of 25 years or less or where, at the time of assignment thereof, 25 years or less of the term remains. For purposes of this Ordinance, where the initial term of the possessory right is for a period of less than 25 years, but such right may be extended for a period exceeding 25 years, or for periods which in the aggregate exceed 25 years, the term of the possessory right shall be calculated as including the initial term and all extensions thereof. K. Any transfer of a mineral or royalty interest by deed or otherwise. L. Transfers to secure a debt or other obligation, or transfers of releases of property which is security for a debt or orther obligation. M. Any transfer by deed or conveyance under execution sale or foreclosure sale under a power sale of court decree of lien foreclosure, sheriff's deed, public trustee's deed or treas- urer's deed. N. Any sale or conveyance of real property or improve- ments for the purpose of constructing or providing low or moderately priced housing units for sale or lease to low or moderate income persons. Provided, that the parties to the transaction shall apply to the Town Manager for the exemption prior to the occurrence of the transaction from which exemption is sought, and the parties shall agree to appropriately restrict the future use of the property to low and moderately priced housing units by recorded agreement, deed restriction, covenants, declarations or similar instruments as may be required,by the Town Manager. Section 8. Application for Exemption. In the event that any transfer which is exempt from the Real Property Transfer Tax does not reflect that exemption clearly in the document evidencing the transfer, the grantee may apply for a Certificate of Exemption from the Town Manager, which Certificate of Exemption may be affixed to the document evidencing such transfer. The Certificate of Exemp- tion shall be in the following form: -3- TOWN OF AVON APPLICATION FOR EXEMPTION FROM REAL PROPERTY TRANSFER TAX The undersigned, as Grantee of a deed or instrument of conveyance from to (name of Grantee), dated hereby applies for exemp- tion from the payment of the Avon Real Property Transfer Tax, im- posed by Ordinance No. , Series of 1980, of the Town of Avon. The basis for such requested exemption is: (State grounds for requested exemption, including applicable section and subsection of the Real Property Transfer Tax Ordinance under which the exemption is requested. Attach sup- porting documents, if necessary for full under- standing of transaction, preferably Affidavit, setting out additional details concerning the transaction for which exempt status is being requested.) I hereby certify under penalty of perjury that the fore- going statement is true and correct. Grantee CERTIFICATE OF EXEMPTION I hereby certify that the above described transfer of real property is exempt from the payment of the Avon Real Property Transfer Tax under Ordinance No. , Series of 1980, Section Town Manager A failure by the Town Manager to act upon the application within seven business days after receipt of the application shall be conclusively deemed to constitute approval of such application. Any person whose claim of exemption is denied may immediately ap- peal to the Avon Town Council for a determination of such exemption and such appeal shall be considered by the Town Council within 30 days of the receipt of the Notice of Appeal. A failure by the Town Council to hear and decide the matter within 30 days shall operate as a decision favorable to the party appealing. -4- Section 9. Lands Affected. When a transaction subject to this Ordinance includes property located within the Town and property located outside the Town, the tax imposed under this Ordinance shall be computed only upon the consideration attribu- table to the real property located within the Town. - Section 10. Town Manager to Enforce. The Town Manager is charged with the enforcement of the provisions of this Ordinance. All banks, title companies, escrow companies, saving and loan institutions, attorneys, real estate brokers and salespersons and other closing agents, permitted to do business as such under the laws of the State of Colorado, are hereby authorized to collect and remit to the Town on behalf of the purchaser, the Avon Real Property Transfer Tax. Section 11. Due Dates, Delinquencies, Penalties and Interest. The tax imposed under this Ordinance is due and payable at the time the deed, instrument or writing effecting a transfer subject to the tax is delivered, and is delinquent if unpaid within 30 days thereafter. In the event that the tax is not paid prior to becoming delinquent, a delinquency penalty of 10% of the amount of tax due shall accrue. In the event a portion of the tax is unpaid prior to becoming delinquent, the penalty shall only accrue as to the portion remaining unpaid. Interest shall accrue at the rate of 1% per month, or fraction thereof, on the amount of tax, exclusive of penalties, from the date the tax becomes delinquent to the date of payment. Interest and penalty accrued shall become part of the tax. Section 12. Lien. A. The amount of the Real Property Transfer Tax im- posed by this Ordinance, and penalty and interest due thereon, is hereby assessed against the property transferred, and if not paid when due, such tax, penalty and interest, if any, shall constitute a lien on the property for the amount thereof, which lien shall continue until the amount thereof is paid or until its discharge of record by foreclosure or otherwise. B. If the tax is unpaid and delinquent, the Town Mana- ger shall give written notification to the purchaser at the address shown on the deed or instrument, or his last known address, of said delinquency. Said notification shall be mailed certified or registered mail, postage prepaid, return receipt requested, and shall be effective on the date of mailing. If the tax, penalty and interest are not paid within thirty days of the effective date of the notification, the Town Manager shall mark the same delinquent on the Town's tax roll and shall, at least once each calendar year, but not sooner than the first day of December, certify such delin- quencies, along with the interest and penalty, to the Treasurer of Eagle County, Colorado; and the County Treasurer shall extend such delinquencies upon the real property tax rolls of the County and collect the same in the same manner as delinquent general taxes levied upon such property. Upon certification of the delinquent taxes, the penalties and interest thereon shall also become due and payable. C. The amount of the tax penalty and interest imposed under the provisions of this Ordinance shall be deemed a debt owed to the Town. Any person owing money to the Town under the provi- sions of this Ordinance shall be liable to an action brought in the name of the Town for the recovery of such amount. -5- D. Any due hereunder may Imprisonment . for fine and imprison E. Any and not exclusive provided by law. • • person who shall fail or refuse to pay any tax be punished by a fine not exceeding $300.00 or a period of not more than 90 days, or both such Rent. remedies provided for herein shall be cumulative and shall be in addition to any other remedies Secion 13. Severability. If any provision, clause, phrase or section of this Ordinance or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions, clauses, phrases or sections or appli- cations of the Ordinance which can be given effect without the invalid provisions or applications and to this end the provisions or appli- cations of this Ordinance are declared to be severable. Section 14. Allocation of Revenue. All revenues derived from the tax imposed pursuant to this Ordinance shall be divided as follows: (a) 50% of said revenues shall be deposited in the General Fund of the Town; and (b) 50% of said revenues shall be deposited into the Public Works Fund of the Town for the purpose of capi- tal improvements, including, but not limited to, railroad crossings, bridges and streets; payment of principal of, premium, if any, and interest on debt incurred by the Town relating to capital improvements, or upon determination of an emergency by majority vote of the entire Town Council, for any valid municipal purpose. INTRODUCED, READ AND PASSED ON THE FIRST READING, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL, THIS rC-DAY OF , 1980, AND A PUBLIC HEARING ON THIS ORDINANCE SHALL BE HELD AT THE MEETING OF THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, ON THE 25th DAY 1980, AT 7:30 P.M. IN THE MUNICIPAL OFFICES OF THE TOWN. ~ t An elo V. Alpi, a or ATTEST: Patricia J. yle, To 4n Clerk INTRODUCED, READ AND PASSED ON SECOND READING, APPROVED, AND ORDERED PUBLISHED THIS °?5--r-Z DAY OF 1980 ATTEST: Patricia J. yle, T wn Clerk Angelo Alpi, May r a ~ STATE OF COLORADO ) COUNTY OF EAGLE ) SS TOWN OF AVON ) NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN OF A PUBLIC HEARING BEFORE THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO, AT 7:30 P.M. ON THE 25th DAY OF MARCH, 1980 AT THE TOWN HALL FOR THE PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE NO.#80-6, SERIES OF 1980: AN ORDINANCE REPEALING ORDINANCE NUMBER 8, SERIES OF 1978; IMPOSING A TAX UPON THE TRANSFER OF INTERESTS IN REAL PROPERTY; SETTING OUT THE TRANSACTIONS SUBJECT TO THE TAX AND THE PERSONS RESPONSIBLE FOR THE PAYMENT THEREOF; DEFINING CERTAIN TERMS AS USED HEREIN; SETTING OUT THE METHOD BY WHICH THE AMOUNT OF THE TAX IS COMPUTED; PROVIDING FOR CERTAIN EXEMPTIONS TO THE IMPOSITION OF THE TAX; ESTABLISHING PROCEDURES FOR FILING AN APPLICATION FOR EXEMPTION FROM THE TAX; SETTING OUT THE DATES, PENALTIES AND RATES OF INTEREST WHICH APPLY AND DEFINING DELINQUENCY WITH RESPECT TO PAYMENT; PRO- VIDING FOR A LIEN ON PROPERTY IN CASES WHERE THE TAX REMAINS UNPAID; PROVIDING A PENALTY FOR THE VIOLATION HEREOF; AND PROVIDING FOR ADDITIONAL DETAILS IN RELATION THERETO. A copy of said Ordinance is attached hereto and is also on file at the office of the Town Clerk and may be inspected during regular business hours. Following this hearing, the Council may consider final passage of this Ordinance. This notice given and published by order of the Town Council of the Town of Avon, Colorado. Dated this 14th day of March, 1980. TOWN OF AVON, CO POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON MARCH 17, 1980. THE NORTHEAST SIDE OF THE BENCHMARK SHOPPING CENTER, AVON POST OFFICE THE MAIN ENTRANCE OF EAGLE VALLEY BOWL THE PESTER GAS STATION; AND THE TOWN OFFICE, SECOND FLOOR, BENCHMARK SHOPPING CENTER