TC Ord. No. 1987-13J
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ORDINANCE NO. 87-13, SERIES OF 1987
AN ORDINANCE TO AMEND ORDINANCE NO. 87-8, SERIES OF
1987, WITH RESPECT TO CERTAIN INTEREST RATE PROVISIONS
OF THE TOWN'S GENERAL OBLIGATION BONDS, SERIES 1987.
WHEREAS, the Town Council has heretofore duly adopted
Ordinance No. 87-8, Series 1987, which authorized the issuance of
the Town's General Obligation Bonds, Series 1987 in the principal
amount of $2,040,000 '(the "Bonds"); and
WHEREAS, the Town has obtained lower interest rates per
annum on certain of the Bonds to be issued pursuant to Ordinance
No. 87-8, Series of 1987, than those reflected in the ordinance.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF
THE TOWN OF AVON, COLORADO:
Section 1. Section 3 of Ordinance No. 87-8, Series of
1987, is hereby amended to provide for the payment of the
following interest rates per annum on the Bonds maturing in the
years indicated:
Year Interest Rates
Maturing (Per Annum)
1992 6.375%
1993 6.625
2006 7.875
Section 2. All other provisions of Ordinance No. 81-8,
Series of 1987, are approved and confirmed as heretofore adopted.
Section 3. All ordinances, resolutions, bylaws or
portions thereof in conflict with this ordinance are hereby
repealed only as to the extent of such conflict.
Section-4. This ordinance, as adopted by the Town
Council, shall be numbered and recorded by the Town Clerk in the
official records of the Town. The adoption and publication shall
be authenticated by the signatures of the Mayor and Town Clerk,
and by the certificate of publication.
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Section 5. This ordinance shall be in full force and
effect seven days after its publication in a newspaper of general
circulation in the Town upon its final passage.
INTRODUCED, PASSED ON FIRST READING, AND ORDERED
PUBLISHED THIS 12th day of May, 1987.
Mayor Pro Tem
&wr--Olf Avon, Colorado
(SEAL)
st:
Tow Clert
of Avon, Colora
ADOPTED AND APPROVED THIS 12th day of May, 1987.
SEAL) )
t,tes
Mayor
Tow of Avon Colorado
Town ci frk
.of Avon, Color
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EXHIBIT A
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
26th DAY OF MAY, 1987, AT THE MUNICIPAL BUILDING,
400 BENCHMARK ROAD, AVON, COLORADO, FOR THE PURPOSE OF
CONSIDERING THE ADOPTION OF ORDINANCE NO..87- 13 , SERIES OF
1987:
AN ORDINANCE TO AMEND ORDINANCE NO. 87-8,
SERIES' OF 1987, WITH RESPECT TO CERTAIN
INTEREST RATE PROVISIONS OF THE TOWN'S
GENERAL OBLIGATION BONDS, SERIES 1987.
A copy of said ordinance is on file at the office of
the Town Clerk and may be inspected during regular business
hours. Following this, hearing the Town Council may consider
final passage of the-Ordinance. This notice given and passed by
order of the Town Council of the Town of Avon, Colorado.
DATED this 12th day of May, 1987.
TOWN OF AVON, COLORADO
By
14-t.ricia J. oyle
Town Clerk
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It was thereupon moved by Councilmember Connell
and seconded by Councilmember Watkins that the foregoing
ordinance read by title at this meeting be approved on first
reading, be published in full in a newspaper of general
circulation in the Town together with a notice of public hearing
in substantially the form attached-hereto as Exhibit A, and that
the Ordinance, at least seven days after notice is published as
aforesaid, be considered at a public hearing and then considered
for final passage, all at the regular meeting of the Town Council
to be held at the Municipal Building, 400 Benchmark Road, on
Tuesday, May 1987, at 7:30 p.m.
The question being upon the adoption of such motion,
the roll was called with the following result:
Those Voting Yes: Emilie Harrison
Clint Watkins
Gloria McRorv
Al Connell
Those Voting No:
Those Absent: Allan Nottingham
,Terry Davis
At least two-thirds of the members of the Town Council
having voted in favor of such motion, the presiding officer
thereupon declared the motion carried.
Thereupon, the Town Council considered other business
and took other action not concerning the general obligation
bonds.
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Thereafter, there being no further business .to come
before the meeting, on motion duly made, 'seconded and unanimously
carried, the meeting was adjourned.
/Mayor Pro Tem
Avon, Colorado
(SEAL)
n r ~ .
To Clerk
Town of . von,- Colorado
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STATE OF COLORADO )
COUNTY OF EAGLE ) SS.
TOWN OF AVON )
I, Patricia J. Doyle, duly appointed and acting Clerk,
of the Town of Avon (the "Town"), Eagle County, Colorado, do
hereby certify that the foregoing pages numbered 1 to 6,
inclusive, constitute a true and correct copy of the record of
proceedings of the Town Council of the Town, taken at a regular
meeting thereof, held at the Municipal Building, 400 Benchmark
Road,. in Avon, Colorado,. - the regular meeting place, of the
Council, on Tuesday, May 12, 1987, insofar as said proceedings
relate to the introduction and passage on first reading of an
ordinance therein set forth, concerning -the amendment of
Ordinance No. 87-8,, Series of 1987.
I further certify that attached hereto is an affidavit
of publication of said ordinance as passed on first reading by-
the Town Council at said meeting and that the ~i and Tem 4
other members of the Town Council were present at the meeting and
the members of the Council voted as in the minutes set forth.
IN WITNESS WHEREOF, I have hereunto set my hand and the
seal of the Town of Avon, Colorado, this 12th day of May,_1987.
(SEAL)
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(Attach Affidavit of Publication of ordinance
After First Reading)
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