TC Ord. No. 1987-26\J
'OWN OF AVON
ORDINANCE 140. 87 - 26
Series of 1937
All ORDINANCE PROVIDING FOR THE AMEMNO r OF THE ZONRIG CODE OF THE 'T'OWN
OF AVON BY THE AMENDNENT OF THE ORDINANCE ESTABLISHING 61ILDRIDGE SUBDIVISION
AS A SPECIALLY PIANNED AIM OF THE TOWN OF AVON.
IqMREM, Wildridge Development c q:)any has filed application with the
Tawas of Avon to amend the zoning district map and the Qrd7.z=amces of ' the Town
of Avon by effectively transferring certain development rights from Lot 59, Block
3, Wildridge SubdtVi-t;la~_ to Lot 60, Block 3, Wildridge Subdivision, as amended
to the date of this ordinance and the modification of the uses heretofore authorized
on such lots, through the amendment of the plan for the previously -established
specially plannned area; and
WHEREAS, public hearings have been held by the Planning Caunission of the
Town of Avon, pursuant to notice: required by law, at which the applicants and
the public were given an opportunity to express their opinions regarding the
proposed amts; and
WHEREAS, following such public hearings, the Planning cm nission forwarded
reports and reomn ndations on the proposed amendment to the Tam Council; and
Wes, after notice: provided by law, a public hearing was held before this
Council on the 8th day of December , 1987, at which time the applicants
and the public were given an opportunity to express their opinions regarding
the proposed amendment; and
WfmFEA.S, based upon the evidence, testimony, and exhibits, and a study of the
Master Plan of the Town of Avon and the reccmTe elation of the Planning Cb mi..ssion
of the Town of Avon, this council finds as follows:
1. The proper posting, publication and public notice was provided as required
by law for the hearing before the Planning ar=ssion and the Town Council
of the Town of Avon.
2. That the hearings Wefore the Planning Commission and the Town Council
were both extensive and complete and that all pertinent facts, matters and
issues were submitted at those hearings.
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3. That the proposed annts to the Zoning District Map and Ordinances
of the Tbwn of Avon are consistent with the Master Plan of the Town of Avon,
provided that certain limitations hereinafter set forth be established in
association with the respective specially planned areas.
4. That the requested amendment to the Zoning District Map and the Ordinances
of the Town of Avon will be in the best interest of the health, safety, and
welfare and morals of the citizens of the Tbwn of Avon.
NOW, TfREFEFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON,
COLORADO, THAT:
Section 1. The Zoning District Map of the Town of Avon and the
Specially Planned Area Plan for Wildridge Subdivision shall be and hereby are
amended to reflect that Lot 59, Block 3, Wildridge Subdivision shall be and
hereby is limited to one single family residential structure.
Section 2. The Zoning District Map of the Town of Avon and the
Specially Planned Area Plan for Wildridge Lot 60, Block 3, Wildridge Subdivision
shall be and hereby is limited to use for one duplex residential structure.
Section K Effective Date. The amendment to Specially Planned Area
Plan for Wildridge Subdivision, the Zoning District Map and the Ordinances of
the Town of Avon provided for herein shall take effect in accordance with the
charter and the ordinances of the Town of Avon, and the Mayor and the Town Clerk
are hereby directed and authorized to execute such documents as may be required
to reflect the anent herein authorized, and to file a certified copy of
such documents with the County Clerk and Recorder of Eagle County, Colorado.
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INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED POSTED THIS 2 4 th
day of November 1987 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 8th day of December . 1987
at 7:30 P. M. in the Municipal Building of the Town of Avon.
Allan R. ",or
ATTEST :
INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED POSTED THIS 8th
day of December , 1987.
Allan R. No tingham, yor
ATTEST :
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Pa icia J. Doyle Torun C k
STATE OF COLORADO )
COUNTY OF EAGLE ) SS
TOWN OF AVON )
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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
8TH DAY OF DECEMBER, 1987, AT THE TOWN HALL FOR THE PURPOSE
OF CONSIDERING THE ADOPTION OF ORDINANCE NO. 87-26, SERIES
OF 1987:
AN ORDINANCE PROVIDING FOR THE AMENDMENT OF THE ZONING CODE OF
THE TOWN OF AVON BY THE AMENDMENT OF THE ORDINANCE ESTABLISHING
WILDRIDGE SUBDIVISION AS A SPECIALLY PLANNED AREA OF THE TOWN
OF AVON
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.
Follwing this hearing the Council may consider final passage
of this Ordinance.
This notice is given and published by order of the Town Council
of the Town of Avon, Colorado.
Dated this 24th day of November, 1987.
POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE T017N OF
AVON ON NOVEMBER 25, 1987:
THE AVON POST OFFICE IN THE MAIN LOBBY
THE CITY MARKET IN THE MAIN LOBBY
PD QUIK; AND
THE AVON MUNICIPAL BUILDING IN THE MAIN LOBBY
DRAFT #4
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CERTIFIED RECORD
of proceedings of
the Town Council of-
TOWN OF AVON
Eagle County, Colorado
relating to an Ordinance
authorizing the issuance of its
COLORADO PUBLIC-
LEASING PROGRAM'
REVENUE BONDS
SERIES 1987
DATED DECEMBER 30, 1987
IN THE-MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF $25,000,000
December 8, 1987
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STATE OF COLORADO )
COUNTY OF EAGLE ) ss.
TOWN OF AVON )
The Town Council of the Town of Avon, Colorado, met
in regular session, in full conformity with law and the
Charter, ordinances and rules of said Town, at the Municipal
Building, in Avon, Colorado, being the regular meeting place
of the Council, on December 8, 1987, at 7:30 p.m. Upon roll
call, the following were found to be present, constituting a
quorum:
Mayor:
Mayor Pro Tem:
Other Councilmembers:
Allan R. Nottingham
Steve Miller
Al Connell
Jerry Davis
Emilie Harrison
Gloria McRory
Clinton Watkins
Absent: None
There were also present:
Town Clerk: Patricia J. Doyle
Town Manager: William James
Town Attorney: John Dunn
Thereupon, the following proceedings, among others,
were had and taken.
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The Clerk announced that Ordinance No. 87-27,
Series of 1987,
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
THE TOWN OF AVON'S COLORADO PUBLIC
LEASING PROGRAM REVENUE BONDS SERIES
19871 IN THE MAXIMUM AGGREGATE PRINCIPAL
AMOUNT OF $25,000,000; AUTHORIZING THE
EXECUTION-AND DELIVERY-OF AN INDENTURE OF
TRUST, AND THE EXECUTION AND DELIVERY OF
MUNICIPAL LEASE AND INTERGOVERNMENTAL
AGREEMENTS AND OTHER AGREEMENTS AND
DOCUMENTS PERTAINING THERETO; APPOINTING
A TRUSTEE AND BOND REGISTRAR; APPOINTING
A PROGRAM. REPRESENTATIVE; AUTHORIZING
ACTION REQUIRED TO EFFECTUATE THE EXECU-
TION, DELIVERY, ISSUANCE AND`SALE OF SAID
BONDS; RATIFYING ACTION PREVIOUSLY TAKEN
CONCERNING SAID BONDS;" AND REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH,
which ordinance was introduced and read by title for the
first time on November 24, 1987, had, as ordered by the Town
Council, been published in the Vail Trail, a newspaper of
general circulation in the Town of Avon, in its issue of
November 27, 1987, and that the publisher's affidavit of
publication of the ordinance is now on file in the' office of
the Clerk.
Thereupon, Ordinance No. 87-27,'Series of 1987, was
read by title for.the second time, printed copies having been
furnished to Councilmembers and members of the public in
attendance.
Mayor, Nottingham announced that this is the time
and place for a public hearing on the adoption of ordinance
No. 87-27, Series of 1987.
After the close of the public hearing, Mayor
Nottingham introduced Ordinance No. 87-27, Series of 198.7,
for final consideration.
It was thereupon moved ,:by 'Councilmember
Harrison and seconded by Councilmetber ___:watkins
that said Ordinance be amended to read as follows:
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ORDINANCE NO. 87-27, SERIES OF 1987
AN ORDINANCE AUTHORIZING THE ISSUANCE OF
THE TOWN OF AVON'S COLORADO PUBLIC
LEASING PROGRAM REVENUE BONDS SERIES
1987, IN THE MAXIMUM AGGREGATE PRINCIPAL
AMOUNT OF $25,000,000; AUTHORIZING THE
EXECUTION AND DELIVERY OF AN INDENTURE OF
TRUST, AND THE EXECUTION AND DELIVERY OF
MUNICIPAL LEASE AND INTERGOVERNMENTAL
AGREEMENTS AND OTHER AGREEMENTS AND
DOCUMENTS PERTAINING THERETO; APPOINTING
A TRUSTEE AND BOND REGISTRAR; APPOINTING
A PROGRAM REPRESENTATIVE; AUTHORIZING
ACTION REQUIRED TO EFFECTUATE THE EXECU-
TION, DELIVERY, ISSUANCE AND SALE OF SAID
BONDS; RATIFYING ACTION PREVIOUSLY TAKEN
CONCERNING SAID BONDS; AND REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH
TOWN OF AVON
Eagle County, Colorado
December 8, 1987
WHEREAS, the Town of Avon (the "Town") in the
County of Eagle and State of Colorado, is a municipal corpo-
ration duly organized and existing under the Town's Home Rule
Charter (the "Charter") adopted pursuant to Article XX of the
Constitution of the State of Colorado; and
WHEREAS, Section 14.4 of the Charter provides:
"The Town, pursuant to ordinance, and without an
election, may borrow money, issue bonds, or other-
wise extend its credit for purchasing, construct-
ing, condemning, otherwise acquiring, extending or
improving a water, electric, gas or sewer system,
or other public facility or income-producing
project or for any other capital improvement;
provided that the bonds or other obligations shall
be made payable from the net revenues derived from
the operation of such system, utility or other such
project or capital improvement, and provided,
further, that any two or more of such systems,
utilities, projects or capital improvements may be
combined, operated and maintained as joint munici-
pal systems, utilities, projects or capital
improvements, in which case such bonds or other
obligations shall be made payable out of the net
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revenue derived- from the operation of such joint
systems, utilities or capital improvements."; and
WHEREAS; -Section 14.7 of the Charter further
provides:
"The aggregate amount of-,bonds or other evidences
of indebtedness of the Town shall not exceed
twenty-five percent (25x) of the assessed valuation
of the taxable property within the Town as.shown by_
the last preceding assessment for Town purposes;'or,
the sum of $15,000,000.00, whichever amount shall
be greater provided, however, in-determining the
amount of indebtedness, there shall not be included
within the computation:
(a) Bonds'or other evidences of 'indebtedness,
outstanding or authorized to be issued for the
acquisition, extension or improvement of.a
municipal water-works system or municipal
storm sewer, sanitary sewer, combined storm
and sanitary sewers, or sewage'disposal
systems;
- (b) Short-term notes;
(c). Special or local improvement securities;
(d) Securities payable from the revenues of
an income-producing system,, utility, project,
or other capital improvement or from Town
sales or use taxes.
(e) Long-term installment -contracts other.
than real property acquisitions, rentals and
leaseholds pursuant to Section 14.9."; and
WHEREAS, Section 18.2 of the Charter provides:
The power to supersede any law of this State now or
hereafter in force, insofar as it applies to local
or municipal affairs shall be reserved to the Town,
acting by, ordinance, subject only to restrictions
of Article XX of the State Constitution.
WHEREAS, the Council has determined and does hereby
determine that the Town shall undertake a program (the
"Program") involving the financing of the cost of acquisition
of 'major movable and fixed equipment and.machinery of a type
used or useful in connection with, the, essential governmental
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functions of governments and political subdivisions of the
State of Colorado (such major movable and fixed equipment and
machinery being hereinafter referred to as the "Program
Equipment", and such governments and political subdivisions
being herein referred to as "Participants"); and
WHEREAS, for the purpose of carrying out the
Program and providing the Program Equipment for lease to the
Participants, the Town shall issue its Colorado Public
Leasing Program Revenue Bonds, Series 1987, in the maximum
aggregate principal amount of $25,000,000 (the "Bonds"),
pursuant to an Indenture of Trust dated as of December 30,
1987 (the "Indenture") by and between the Town and Denver
National Bank, Denver, Colorado, a national banking associa-
tion, as trustee (together with its successors and assigns,
the "Trustee") ; and
WHEREAS, the Town intends to apply the proceeds of
the Bonds to the acquisition of Program Equipment, at the
request of Participants; and
WHEREAS, Part 2 of Article 1 of Title 29, Colorado
Revised Statutes, as amended (the "Act"), encourages, author-
izes and empowers governments and political subdivisions of
the State of Colorado to cooperate with one another by
entering into such intergovernmental agreements and contracts
as they may from time to time determine to be in their best
interests, to provide any function, service or facility
lawfully authorized to each of them, including the sharing of
costs and the incurring of debt, for the joint exercise of
their municipal powers, and for their mutual benefit; and
WHEREAS, the undertaking of the Program by the Town
effects certain economies of scale, including but not limited
to the minimizing of costs that would otherwise be incurred
by Participants in acquiring the Program Equipment, and will
allow Participants to benefit from the existence of readily
available financing, at competitive market rates of interest,
for the acquisition of Program Equipment; and
WHEREAS, the Town intends to lease the Program
Equipment to each respective Participant by entering into a
series of Municipal Lease and Intergovernmental Agreements
(the "Lease Agreements") by and between the Town and the
Participants, which Lease Agreements the Town will assign to
the Trustee as security for the Bonds and which, in the
aggregate, shall provide for the payment by the Participants
of rentals in amounts sufficient together with income from
the investment of the Funds and Accounts established under
the Indenture, to enable the Town to pay the principal of and
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interest on the Bonds and other costs incurred in connection
with the Program; and
WHEREAS, the Town intends to cause a portion of the
proceeds of the Bonds 'to be deposited in' an Equipment
Acquisition Fund created pursuant to the Indenture, and to
apply such moneys for the acquisition of Program Equipment at
the request of Participants, as provided-in the Indenture;
and
WHEREASI the Town intends to cause a portion of the
proceeds of the' Bonds to be, deposited in a Debt Service
Reserve Fund created pursuant to the Indenture, -to be
utilized as security for the payment of debt service on the
Bonds, as provided in the Indenture; and
WHEREAS, the Town intends that such proceeds as are
initially deposited in the Equipment Acquisition Fund and the
Debt Service Revenue Fund, as well as other moneys from time
to time held by the Trustee pursuant to the Indenture, shall
be invested-pursuant to the terms, covenants and-conditions
of certain Investment Agreements (the "Investment
Agreements")- _by and between the Trustee and certain financial
institutions to be determined; and
WHEREAS, the Town Council wishes to approve the
form, terms, covenants and conditions -of such Investment
Agreements and the manner provided therein for the investment
of moneys on deposit in the Equipment'Acquisition Fund, the
Debt Service Reserve Fund, or otherwise held by the Trustee
under the Indenture; and
WHEREAS, the Town Council wishes to approve the
manner provided in the Indenture for- the further investment
of other moneys held from time to time by the Trustee under
the Indenture; and
WHEREAS, there have been presented to and filed
with the Council for review at this meeting (1) the proposed
form of the Bonds; (2) the, proposed form of the Indenture;
(3) the proposed-form,of a 'Bond Purchase Agreement dated as
of December 8, 1987, (the "Bond-Purchase Agreement"), by and
between the Town and George K. Baum &'Company, Denver,
Colorado (the "Underwriter"); (4) the--proposed form of a
Program Administration Agreement dated- as-of December 30,
1987 (the "Program Administration Agreement"), by and between
the Town and George K. Baum & Company, Denver, Colorado, as
program representative (the ~"Program Representative");
(5) the proposed form of - Lease Agreement; (6) the proposed
form of.an Arbitrage Regulation Agreement dated as of
December 30, 1987 (the "Arbitrage Regulation Agreement"), by
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and between the Town and the Trustee; and (7) the proposed
form of the Investment Agreements.
THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF
THE TOWN OF AVON, EAGLE COUNTY, COLORADO, THAT:
Section 1. Authorization. There is hereby
authorized the issuance of the Colorado Public Leasing
Program Revenue Bonds, Series 1987, in an aggregate principal
amount not to exceed $25,000,000, to be dated as of
December 30, 1987 (the "Bonds"). The Bonds shall be issued
pursuant to the terms of the Indenture, in the original
principal amount and having the maturity dates and bearing
interest at the rates per annum as specified in the Inden-
ture; and shall otherwise be issued in the form and manner
and have such terms and conditions as provided in, and shall
be delivered in accordance with, the terms, covenants,
conditions of the Indenture. The Bonds shall not constitute
the debt or indebtedness of the Town or the State of Colorado
or any political subdivision or agency thereof or of the
Participants within the meaning of any provision or limita-
tion of the Constitution or laws of the State of Colorado, or
personal obligations of the members of the Town Council, but
shall be the special and limited obligations of the Town
payable solely out of the Trust Estate held by the Trustee
therefor under the Indenture.
Section 2. Approvals.
(a) Indenture The Indenture shall be in
substantially the form presented to the Town Council at this
meeting. The form, terms, covenants and conditions of the
Indenture are hereby approved and adopted, and the Mayor and
Town Clerk are hereby authorized to execute, attest and affix
the seal of the Town to the Indenture on behalf of the Town,
and to deliver the same as appropriate.
(b) Bond Purchase Agreement. The Bond
Purchase Agreement shall be in substantially the form pre-
sented to the Town Council at this meeting. The form, terms,
covenants and conditions of the Bond Purchase Agreement are
hereby approved and adopted, and the Mayor and Town Clerk are
hereby authorized to execute, attest and affix the seal of
the Town to said Agreement on behalf of the Town, and to
deliver the same as appropriate.
(c) Program Administration Agreement. The
Program Administration Agreement shall be in substantially
the form presented to the Town Council at this meeting. The
form, terms, covenants and conditions of the Program
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Administration Agreement are hereby approved and adopted, and
the Mayor and Town Clerk are hereby authorized, to execute,
attest and affix the seal of the Town to said Agreement on
behalf of the Town, and*to deliver-the same'as appropriate.
(d) Lease-Agreements.. The Lease Agreements
shall be in substantially'the form presented to the Town
Council at this meeting. The form,- terms, ~ covenants and
conditions' of the Lease Agreement are hereby approved and
adopted, and the'Mayor, the Town Clerk and the Town Manager,
and,any other persons who may from time to time be designated
in writing by the Mayor, are authorized, on behalf of the
Town, to -execute,_attest and affix the seal of the Town to
such Lease Agreements as may from time to - time be entered
into by and between the Town and other "governments" (as such
term is defined in Colorado Revised Statutes § 29`-1-202, as
amended), and.as such Agreements may be presented tothe Town
from., time to time by the Program Representative or - the
Trustee for execution on behalf of the Town; and to deliver
the same as appropriate.
(e) Arbitrage Regulation Agreement. The
Arbitrage Regulation Agreement shall be in substantially the
form presented to the Town Council at this meeting. The
form, terms, covenants and conditions of the Arbitrage
Regulation Agreement are hereby approved and adopted,, and the
Mayor and Town Clerk are hereby authorized to execute, attest
and affix the seal of the Town to said Agreement on behalf of
the Town, and to deliver the same as appropriate.
(f) Investments. The Investment -Agreements
shall be in substantially the form presented to. the- Town
Council at this meeting. The form, terms, covenants and
conditions of the Investment Agreements are hereby approved
and adopted; and'the manner provided therein for the invest-
ment of moneys of the Town on deposit in the Equipment
Acquisition Fund, the Debt Service Reserve Fund, or'otherwise
held from time to time by the Trustee under the Indenture, is
hereby approved. Such Agreements shall be executed and
delivered in substantially the forms presented to the Town
Council "at this meeting; but may be executed and delivered
with such modifications as are consistent with the purposes
of this Ordinance. The manner provided in the Indenture for
the further investment of other moneys held from time to-time
by the Trustee under the'Indenture is-also approved.
(g) Modifications. The documents described
in subsections a, b, c, - d, e, and f of this Section 2, and
the Bonds referenced' to in Section 3 hereof, shall be
executed and. delivered in substantially the forms presented
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to the Town Council at this meeting, but may be executed and
delivered with such modifications as are consistent with the
purposes of this Ordinance and as shall be approved by the
Mayor, the execution of such documents by the Mayor being
conclusive evidence of the approval of any such modifica-
tions. It shall not be necessary that the same persons
execute each of such documents.
Section 3. Approval and Execution of Bonds. The
Bonds shal be in substantially the form presented to the
Town Council at this meeting. The form, terms, covenants and
conditions of the Bonds are hereby approved and adopted. The
Bonds shall be delivered to the Trustee for authentication,
and the Trustee is hereby requested to authenticate and
deliver the Bonds to or upon the order of the purchasers
thereof, as shall be requested in writing by the Mayor of the
Town; and the Mayor of the Town is hereby authorized to
execute and deliver such request upon satisfaction of the
conditions precedent to delivery of the Bonds as set forth in
the Indenture. The Bonds shall be executed on behalf of the
Town by the Mayor and Town Clerk of the Town by manual or
facsimile signature.
Section 4. Trustee. Denver National Bank,
Denver, Colorado, a natiTonal banking association, is hereby
appointed to serve as Trustee and Bond Registrar under the
Indenture.
Section 5. Program Representative. George K.
Baum & Company, Denver, Colorado, is hereby appointed to
serve as Program Representative under the Program Administra-
tion Agreement.
Section 6. Authorization of Officers. Any.of the
Mayor, the Town Clerk and the Town Manager of the Town is
hereby further authorized and directed on behalf of the Town
to accept, receive, transfer, assign, execute, attest and
deliver all such other documents, instruments, certificates
and other materials as are necessary or convenient in connec-
tion with the authorization, issuance, sale and delivery of
the Bonds, the Indenture, the Lease Agreements, the Bond
Purchase Agreement, the Program Administration Agreement and
the Arbitrage Regulation Agreement, or otherwise in further-
ance of the Program, to take such further actions as may be
necessary or convenient in connection therewith.
Section 7. Information Reporting. The proper
officials of the Town are hereby authorized and directed to
file with the Secretary of the Treasury, not later than the
fifteenth (15th) day of the second (2nd) calendar month
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following the close -of the calendar quarter in which the
Bonds are issued, a, statement on Form 8038-G concerning the
Bonds.
Section 8. Adoption of Covenants. All covenants,
statements, representations and agreements contained in the
Bonds, the Indenture, the Lease Agreements, the Bond-,Purchase
Agreement, the Program Administration. Agreement and the
Arbitrage Regulation Agreement are hereby approved and
adopted as the covenants, statements, representations and
agreements of the Town.
Section 9: Facsimile Signatures. Pursuant to the
Uniform Facsimile Signature of Public Officials Act, Colorado
Revised Statutes H 11-55-101 to -1,10, as amended, the Mayor
and Town Clerk of the Town shall forthwith, and in any event
prior to the time the Bonds are delivered to the Underwriter,
file with the Colorado Secretary of State their manual
signatures certified by them under oath.
Section 10. Ratification. All actions-heretofore
taken and approved by the Town Council relating to the plans
and specifications -for providing the Program and all such
actions directed toward the financing of the Program and the
issuance and sale-of the Bonds therefor, are hereby ratified,
approved and confirmed.
Section 11. Other Actions. The appropriate
officers and members of the Town Council. are hereby author-
ized and directed to take all other actions necessary or
appropriate to effectuate the provisions of this ordinance,
including, but not limited to, the execution-of such certifi-
cates and affidavits as may reasonably be required by bond
counsel and by the Underwriter of the Bonds.
Section 12. Prior Inconsistent Actions; Repealer.
All ordinances, acts, orders; resolutions, or part thereof,
of the Town that are inconsistent or in conflict with this
Ordinance are hereby repealed to the extent only of such
inconsistency or conflict. - This repealer shall not be
construed so as to' revive any ordinance, act, order, resolu-
tion, or part thereof, heretofore repealed.
Section 13. Severability. Each Section of this
ordinance and each subdivision or paragraph of any Section
hereof is hereby declared to be independent, and should any
Section of this ordinance or subdivision or paragraph of any
Section-hereof be judicially adjudged invalid or unenforce-
able, such judgment shall not affect, -impair,or invalidate
any other Section, subdivision or paragraph of this
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Ordinance, the intention being that the various Sections,
subdivisions and paragraphs hereof are severable.
Section 14. Interpretation; Captions. Notwith-
standing anything to the contrary, the terms, covenants and
conditions set forth herein shall be liberally construed to
effectuate the purposes described, and sustain the validity
hereof, and nothing shall be deemed to prohibit or limit any
action, stated or otherwise, allowed by law unless specifi-
cally constrained herein.
Unless the context requires otherwise, words of the
masculine gender shall be construed to include correlative
words of the feminine and neuter genders and vice versa;
words of the singular number shall be construed to include
correlative words of the plural number and vice versa; and
the terms "hereof", "hereby", "hereto", "hereunder" and
similar terms mean and refer to this Ordinance.
The captions set forth in this Ordinance are for
convenience of reference only, do not form a substantive part
of this Ordinance, and shall not be interpreted as to re-
strict or enlarge a substantive provision of this Ordinance.
Section 15. Amendment; Irrepealability. After the
Bonds authorized herein are issued, sold, and are outstand-
ing, this Ordinance shall not be modified or amended and
shall be and remain irrepealable, until all of said Bonds and
the interest accruing thereon shall be fully paid, satisfied
and discharged.
Section 16. Legislative Determination. It is
hereby determined and covenanted by the Town that all acts
and conditions necessary to be done or performed by the Town
and the Town Council or to have occurred precedent to and in
conjunction with the issuance of the Bonds in order to make
them legal, valid and binding special and limited obligations
of the Town enforceable in accordance with their terms, have
been performed and have happened in regular and due form as
required by law; and the Bonds, and all procedures undertaken
incident thereto, are in full compliance and conformity with
all applicable requirements, provisions and limitations
prescribed by the Constitution of the State of Colorado and
other laws of the State of Colorado thereunto enabling.
Section 17. Disposition of Ordinance. This
Ordinance, as adopted by the Council, shall be numbered and
recorded by the Town Clerk in the offical records of the
Town. The adoption and publication shall be authenticated by
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the signatures-of the Mayor
ficate of publication.
and Town Clerk, _and by certi-
Section 18. Effective Date. This Ordinance shall
be in full force and effect seven (7) days after its publica-
tion in a newspaper of general circulation in the Town upon
its final passage.
INTRODUCED, PASSED ON FIRST READING, AND ORDERED
PUBLISHED-THIS 24TH DAY OF NOVEMBER, 1987.
Mayor
Town of Avon, Co orado
(SEAL)
es
wn Clerk
L
To of Avon, Colorado
ADOPTED AND APPROVED WITH AMENDMENTS THIS 8TH DAY
OF DECEMBER, 1987.
Mayor
Town of Av n, Col ado
US'EAL)
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Town of Avon, Colorado
The question being upon the passage and adoption of
the amendments to the Ordinance, the roll was called with the
following result:
Those Voting Yes: Emilie Harrison
Steve Miller
Clint Watkins
Gloria McRory
Al Connell
Jerry Davis
Those Voting No: n ne
Those Absent: wnrA
6 members of the Town Council having voted in
favor of the motion, the presiding officer thereupon declared
the motion carried and the proposed amendments duly passed
and adopted.
It was thereupon moved by Councilmember Miller
and seconded by Councilmember Harrison that the foregoing
amended Ordinance be approved on second and final reading and
be published in full in a newspaper of general circulation in
the Town.
-iii-
The question being upon the adoption of, such
motion, the roll was called with the following result:
Those Voting Yes: FTHI iP- H;~rriGnn
S- U Mi 11 Pr
1'n Wa kins
G1 orii Mngnry
Al Connell
Jerry Davis
Those Voting No: Nnna•
Those Absent: Nnne
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 Bonds.
Thereafter,- there being no further business to come
before the meeting, on motion duly made, seconded and unani-
mously carried,-the meeting was adjourned.
Mayor.
Town of Avon, Colorado
(S E A L)
ttes
f Avon, Colorado
-iv-
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 Ordinance set forth in
the foregoing pages numbered 1 to 10 , inclusive, including
supplemental pages (i) through (iv) hereof, 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 Town Hall, in Avon, Colorado, the regular meeting
place of the Council, on Tuesday, December 8, 1987, insofar
as said proceedings relate to the introduction and passage on
second and final reading of an ordinance therein set forth,
concerning the sale and issuance of certain revenue bonds of
the Town.
I further certify that attached hereto is an
affidavit of publication of said ordinance as passed on
second and final reading by the Town Council at said meeting;
and that the Mayor and A 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 8th day of
December , 1987.
(S E A L)
~a3-~