TC Ord. No. 1985-05r 0
ORDINANCE NO. 85-5
AN ORDINANCE AMENDING CHAPTER 3.12 OF THE
MUNICIPAL CODE OF THE TOWN OF AVON AS IT
RELATES TO THE DEFINITIONS OF "CONSIDERATION"
AND "REAL PROPERTY."
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
AVON, COLORADO:
Section 1. Amendment. Section 3.12.020, Chapter
3.12, Title 12, of the Municipal Code of the Town of Avon is
amended to read as follows:
"3.12.020 Definitions. With reference to
this chapter 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 include the amount of any lien,
mortgage, contract indebtedness or other encum-
brance, 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, 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 3.12.060, 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 deter-
mine the annual rental, the tax shall be based
upon the appraised value of the property covered
by the lease, and this decision, that the annual
rental cannot be determined, shall be solely at
the discretion of the town manager.
"B. 'Density units' means density units as
designated on the official town plat of the town,
as amended, and density allocations assigned to
specific lots in the town by platting or
designation through specially planned units.
"C. 'Person' means any individual, corpo-
ration, business trust, estate, trust, partner-
ship, association or other legal entity.
"D. 'Town manager' means the person appoint-
ed pursuant to Section 8.1 or Section 8.2 of the
Town Charter or, if the office of town manager is
vacant, the mayor pursuant to Section 8.1 of the
aforementioned Charter.
"E. 'Transfer' means any grant, conveyance
or alienation of real property, as evidenced by
any deed, instrument of conveyance or exchange, or
any other writing wherein or whereby title to real
property is granted, conveyed or alienated, or the
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STATE OF COLORADO )
COUNTY OF EAGLE' ) SS
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
23RD DAY OF APRIL, 1985 AT THE MUNICIPAL BUILDING, 400
BENCHMARK ROAD, AVON, COLORADO FOR THE PURPOSE OF CONSIDERING
THE ADOPTION OF ORDINANCE NO. 85-5, SERIES.OF 1985:
AN ORDINANCE AMENDING CHAPTER 3.12 OF THE MUNICIPAL CODE OF THE
TOWN OF AVON AS IT RELATES TO THE DEFINITIONS OF "CONSIDERATION"
AND "REAL PROPERTY".
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 10 th day of April, 1985.
BY:
TOWN OF AVON, C
Patrici5/J.
Town Clerk
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF'AVON
ON APRIL 10th 1985:
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