TC Ord. No. 1983-28TOWN OF AVON
ORDINANCE NO. #83-28
Series of 1983
AN ORDINANCE AMENDING CHAPTER 3.08
OF THE AVON MUNICIPAL CODE, PERTAINING
TO THE SALES TAX, WITH.RESPECT TO
ISSUANCE AND ENFORCEMENT OF SUBPOENAS
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
AVON, COLORADO, AS FOLLOWS:
Section 1. Amendment. Section 3.08.170, Chapter
3.08 of Title 3 of the Avon Municipal Code is amended to
read as follows:
113.08.170 Investigation of retailer's books.
For the purpose of ascertaining the correctness of
a return, or for the purpose of determining the
amount of tax-due from any taxpayer, the director
of-finance may hold investigations and hearings
concerning any matters covered by this section,
and may exmaine any relevant books, papers,
records, or memoranda-of any such person,
requiring the attendance. of such taxpayer, or any
officer or employee of such taxpayer, or of any
person having knowledge of_such sales, and taking
such testimony and proof as may be necessary to
properly ascertain any.tax liability. The
director shall have power to.administer oaths to
any person in the course of such investigations or
hearings. Production of.documents and attendance
of-witnesses shall be requested by the director on
his'own motion or on motion of any party; any
request for production or attendance shall inform
persons that compliance is voluntary but that, if
the-request is not complied with, the director-may
-apply to the municipal judge for issuance of a
subpoena."
Section 2.: Repeal. Section 3.08.180, Chapter
3.08 of-Title•3 of the Avon Municipal'Code is hereby
repealed.-..
Section 3. Amendment. Section 3.08.190, Chapter
3.08 of Title 3 of,the Avon Municipal Code'is amended to
read as follows:
"3.08.190 Judge compels attendance. The
Municipal-.Judge of the Town of Avon-,-upon the
application of the director of finance, may compel
the attendance of witnesses,,. the production of
books, papers, records or memoranda, and the
giving of testimony,before the director of finance
or any of his duly authori-ied.agents, by the
issuance and enforcement of subpoenas, in the same
manner as production of-evidence may be compelled
before said court."
Section 4. Severability. If any part, section,
sentence, clause or phrase of this Ordinance is for any
reason-held to be invalid, such decision shall not affect
the validity.of the remaining portions of this.Ordinance;
and the Town Council for the Town of Avon hereby declares it.-
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would have passed this Ordinance-and each part, section,
sub-section,'sentence, clause or phrase thereof,
irrespective-of the fact that any one or more parts,
sections, sub=sections, sentences, clauses or phrases be
declared invalid.
INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED
POSTED, " THIS 4th • - day of June , -1983
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 28th day of June , 1983 at
7:30 P.M. in the Mun ici pal Building of the Town of Avon,
Colorado.
SH slat =R =Davis:; =.Mc1ydr. Pro=Tem
ATTEST:
erihy
Deputy -Town -Clerk
INTRODUCED, PASSED ON SECO READING, APPROVED AND ORDERED
POSTED •this day of , 1983.
Allan R. Nottingham; M or
ATTEST: C~
Patricia -j
Town Clerk
03:6/6/83
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STATE OF COLORADO )
COUNTY OF EAGLE )
TOWN OF AVON )
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 28TH DAY OF
JUNE,1983, AT THE MUNICIPAL BUILDING, 400 BENCHMARK ROAD, AVON,
COLORADO FOR THE PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE
N0.#83-28, SERIES OF 1983:
AN ORDINANCE AMENDIING CHAPTER 3.08 OF THE AVON MUNICIPAL
CODE, PERTAINING TO THE SALES TAX, WITH RESPECT TO ISSUANCE
AND ENFORCEMENT OF SUBPOENAS
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 passed by order of the Town Council of the
Town of Avon, Colorado.
Dated this 15th day of June, 1983
TOWN OF AVON, COLORADO
BY
nny el
eputy Town Clerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON
JUNE 17, 1983.
THE MAIN ENTRANCE OF THE POST OFFICE,
THE MAIN ENTRANCE TO CITY MARKET,
THE PESTER GAS STATION: AND
THE MAIN LOBBY IN THE MUNICIPAL BUILDING
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STATE OF COLORADO )
COUNTY OF EAGLE )
TOWN OF AVON )
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SS.
The Town Council of the Town of Avon, in Eagle County,
Colorado, met in regular session, in full conformity with law and the
Charter, ordinances and rules of the Town, at the Town Hall, being
the regular meeting place of the Council, on Tuesday, June 28, 1983,
at the hour of 7:30 o'clock p.m. Upon roll call, the following were
found to be present, constituting a quorum:
Mayor: Allan R. Nottingham
Mayor Pro Tem: Sheila R. Davis
Other Councilmembers: Don Buick
Al Connell
Greg Gage
Larry Rumpost
A. J. Wells
Absent:
none
constituting all the members of the Town Council.
There were also present:
Town Clerk:
Town Manager:
Town Attorney:
Director of Finance:
Patricia J. Doyle
Richard D. Blodgett
John Dunn
William James
Thereupon, the following proceedings, among others, were
had and taken:
Mayor Nottingham announced that a bond purchase proposal
had been submitted by Boettcher and Company, Denver, Colorado, and
associates for the purchase of the Town of Avon General Obligation
Various Improvements Bonds, Series August 15, 1983, in the aggregate
principal amount of $500,000, for the principal amount thereof,
accrued interest to the date of delivery and at a discount of
$_15'"'600 The Director of Finance recommended that the proposal
of Boettcher & Company, Denver, Colorado, and associates for all the
bonds submitted at a negotiated private sale should be accepted.
Councilmember Sheila Davis thereupon moved the proposal
of that firm and its associates, at a negotiated sale be accepted.
The motion-was seconded by Councilmember A.J. Wells and upon
being put to a vote was unanimously carried.
It ( . •
Thereupon, Council member Sheila Davis introduced in
typewritten form a resolution, which resolution was read by title,
copies thereof having been distributed to all members of the Council
and to those members of the public in attendance, and which resolu-
tion is as follows:
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RESOLUTION NO. #83-27
A RESOLUTION DESIGNATED BY THE SHORT TITLE "1983
GENERAL OBLIGATION BOND SALE' RESOLUTION;"
AWARDING THE SALE OF THE TOWN OF AVON, COLORADO,
GENERAL.OBLIGATION VARIOUS IMPROVEMENTS.BONDS,
SERIES AUGUST 15, 1983, IN THE AGGREGATE-PRINCI-
PAL AMOUNT OF $500,000 TO BOETTCHER & COMPANY OF
DENVER, COLORADO.
WHEREAS, the Town of Avon (the "Town"), in the County of
Eagle, and State of Colorado, is a municipal corporation duly orga-
nized and existing under Article XX of the Constitution of the State
of Colorado; and
WHEREAS, the Town's Charter (the "Charter") was duly
adopted at a special election held in the Town on June 13, 1978; and
WHEREAS, the Town Council (the "Council") of the Town of
Avon has determined to issue general obligation bonds for the purpose
of making certain public improvements in the Town; and
WHEREAS, the Council does hereby determine that it is nec-
essary and for the best interests of the Town and the inhabitants
thereof that it immediately proceed to issue and sell its general
obligation bonds designated as the "Town of Avon, Colorado, General
Obligation Various Improvements Bonds, Series August 15, 1983," (the
"bonds") in the aggregate principal amount of $500,000, for the pur-
pose of paying, in part, the cost of making certain public improve-
ments in the Town; and
WHEREAS, the Council does hereby determine and declare that
it is in the best interests of the Town to sell the general obliga-
tion bonds at a negotiated private sale at a net effective interest
rate not exceeding = percent (10.565 ; and
WHEREAS, the Town has received a proposal (hereto attached
as Exhibit A) from Boettcher & Company of Denver, Colorado, to pur-
chase the general obligation various improvements bonds for the prin-
cipal amount of $500,000 and accrued interest to the delivery date at
specified interest rates set forth therein, and at a discount of
$ 15-, 000-
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, COLORADO:
Section 1. This resolution shall be known as and may be
cited by the short title "1983 General Obligation Bond Sale
Resolution."
Section 2. All action (not inconsistent with the provi-
sions of this resolution) heretofore taken by the officers of the
Town directed toward making the various improvements in the Town, and
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the issuance of its "Town of Avon, Colorado, General Obligation
Various Improvements Bonds, Series August 15, 1983," (herein "bonds")
in the aggregate principal amount of $500,000 and the private sale of
the bonds to Boettcher & Company, of Denver, Colorado, be, and the
same hereby is, ratified, approved and confirmed.
Section 3. The Town hereby ac.ce.pts the offer of
Boettcher & Company of Denver, Colorado, to purchase the bonds with a
discount of $ 15,000 and at a net effective interest rate of
10.562bercent ( per annum; which is to the best advantage of the
Town.
Section 4. The officers of the Town be, and they hereby
are, authorized and directed to take all action necessary or appro-
priate to effectuate the provisions of this resolution.
Section 5. All resolutions or parts thereof in conflict
with this resolution are hereby repealed. This repealer shall not be
construed to revive any order, bylaw, or resolution, or part thereof,
heretofore repealed.
Section 6. If any section, paragraph, clause, or other
provision of this resolution is for any reason held to be invalid or
unenforceable, the invalidity or unenforceability_ of such section,
.paragraph, clause, or other provision shall not affect the validity
of the remaining provisions of this resolution.
Section 7. This resolution, immediately on its final pas-
sage and adoption, shall be recorded in the book of resolutions kept
for that purpose and authenticated by the signatures of the Mayor and
Clerk.
INTRODUCED, READ BY TITLE, PASSED, AND ADOPTED ON THIS
June 28y 1983.
Mayo
Town of Avon, Colorado
(TOWN SEAL)
A S.
Tow 1erk'
Town of Avon, Colorado
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Boettcher 8 Company
Investment Bankers Since 1910
828 Seventeenth Street
P.O. Box 54
Denver, Colorado 80201
(303)628-8000
Town Council
Town of Avon
Avon; Colorado
For$ 500000 legally issued General Obligation
Bonds of the Town of Avon
delivered to us in Denver, Col oradn , dated August 15
19B3,, and to mature and bear interest as follows:
Yearof Coupon
Year of
Coupon
Amount Maturity Rate
Amount
Maturity
Rate
$ 15,000 1984 7.25%
40,000
1994
10.500
1S nnn 1985 7.75
45,000
1995
10.50%
2p.,nnn 19R6 R_25.
50,000
1996
10.50%
20,000 1987 8,75%
55,000
1997
10.50%
_ 2511000 1988 9.250
60,000
1998
10.50%
25+000 1989 9.50%
_ M,nnn 1990 9.75%
SO-000 1991 ln_00%
-3.4,00.0_ 1997 10_7_q%
Yearof Coupon
Amount Maturity Rate
ir"Unn . 1993 10-40%
The bonds are to be in the denomination of OAO 00* *(and multiples thereof)
bearing interest8s shown above, payable semi-annually, both principal
and interest payable at Central Bar Lk of Denver, Denver, Colorado
We will pay $ .4 R S nOn _ 00 and accrued. interest from the date of the bonds to the date of delivery to us in Denver
Prior to our accepting delivery of said Securities, you agree to furnish a certified transcript of all legal proceedings requisite to their
issuance and delivery, including a signature and non-litigation certificate in the customary form evidencing the legality of said Securities
and the security provisions relating thereto the satisfaction of Sherman f Howard
whose unqualified approving legal opinion in the customary form shall accompany said Securities at delivery.
These bonds are to be delivered to us on or about Au_ZuS t 19, 1983
The cost of the printing these bonds will be paid by Bond proceeds
and the fees of approving attorneys will be paid by Bond proceeds
We herewith hand you a Cashi er' s check for $ 10, 000.00 as evidence of our good faith in complying with
the terms and conditions of this proposal which is to apply as part payment for said bonds when the legality of same has been approved by
our attorneys, and to be forfeited as fully liquidated damages should we fait or refuse to take up said bonds as above provided. Said Check
is to be returned to us d this proposal is not accepted, or if the above attorneys should decline to approve the legality of the issue. This
offer is for immediate acceptance unless otherwise specified above.
Gross interest cost $ 515,483.17
Premium or Discount $ 15'(100-no
Net interest cost $ 530, 483 17
Average effective rate 10~ 5677
Respectfully submitted,
~o'ry' ~~~~yV
Snoe 1810 ~J
By GE- Cry ' ~G~
Lin A. Clark, Special Partner /n
ACCEPTED for and on behalf of ~YLp -rD( sy~ cp~ 4oe-) aJ
pursuant to authorization i governing body, and receipt of the above mentioned check acknowledged, on this date
tes
FORM 158, MUNI. 12-81, D
r
Signature Signature
Official five Official Title
r_'
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(.ATTACH COPY OF PROPOSAL FROM BOETTCHER & COMPANY)
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Councilmember Sheila Davis then moved that the resolu-
tion be passed and adopted as read. Councilmember Larry xumpost
seconded the motion. The question being upon the passing and adopt-
ing of the resolution, the roll was called with the following
"result:
Those Voting Yes:
Sheila R. Davis
Don Buick
Al Connell
Greg Gage
Larry Rumpost
A. J. Wells
Those Voting No: none
Those-Absent: none
The presiding officer thereupon declared that at least two-
thirds (2/3) of all the members elected or appointed of the town
Council having voted- in favor thereof, as required by Section 14.3 of
the Charter the motion was carried and the resolution duly passed and
adopted.
On motion duly adopted, it was ordered that the resolution
be numbered 83--47 and after its authentication with the signatures of
the Mayor and Town Clerk be recorded according to law in the record
of Resolutions.
Councilmember Larry Kumpost introduced in typewrit-
ten form an ordinance, which ordinance was thereupon read by title,
copies thereof having been distributed to all members of the Council
and to those members of the public in attendance, and which ordinance
is as follows:
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