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TC Ord. No. 1987-13J • 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 All ordinances, resolutions, bylaws or portions thereof in conflict with this ordinance are hereby repealed only as to the extent of such conflict.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. -2- C 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 -3- 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 -4- 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. -5- • r1 U 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 -6- 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) -7- (Attach Affidavit of Publication of ordinance After First Reading) -8-