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TC Ord. No. 1989-14
0 9 ORDINANCE NO. 89-14 SERIES OF 1989 AN ORDINANCE AUTHORIZING EXECUTION OF CERTAIN EQUIPMENT LEASE AGREEMENT BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: Section 1. That certain Equipment Lease Agreement, together with Exhibits, copy of the Agreement is attached hereto as Addendum I, and the terms of this Agreement are hereby approved and hereby authorized. Section 2. The Mayor and Town Clerk are hereby authorized and directed to execute said Equipment Lease Agreement. INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED POSTED, this 10th day of October , 1989, 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 24th day of October , 1989, at 7:30 p.m. in the Municipal Building of the Town of Avon, Colorado. TOWN OF AVON, COLORADO 4-, Allan R. Notti gham, Mayor INTRODUCED, PASSED ON SECOND READING, APPROVED AND ORDERED POSTED this 24th day of October , 1989. Allan R, otting m, Mayor Q~ ~ MNo. ~i►T IEAS~URCHASAG ~Ui~Exrr R NAME AND ADDRS89 OF LESSOR DATED* October 24,. 1989 Chrysler Capital Public Finance Corporation 106 Hest 11th Street Suits 1530 Kam" City, Missouri 64105 NAME AND ADDRESS OF LESSEE Town of Avon 400 Benchmark Avon, Colorado 81620 DESCRIPTION OF EQUIPMENT Description Modell Serial# Qnaatitq Orion 35 ft. 42 Passenger Bus Loeaiion of Equipment: .01.507 2B1139770K6002340 400 Benchmark Ayr Colorado 81620 RENTAL PAYMENTS Rental Payment Periods shall be Imont*1 I4WXa'I I entsl Payments shall be made in soeerdaaca wiib Section 4.01 and the Schedule of Rental Payments attached hereto as Esfiffiit A. Ths mdmam Law Term of this /agreement is 5 Years and 0 months. TERMS AND CONDITIONS THE TERMS AND CONDITIONS OF THIS AGREEMENT SET FORTH ON PAGES TWO THROUGH FOUR SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS IF SET FORTH HERE. IN WITNESS WHEREOF. lessor and Lessee have caused this Agreement to be executed in their names by their duy antharind representatives as of the data written above. (I,B880R) Chrysler Capital Public Finance Corporation _ By Thle: axssEE) CERTIFICATE OF CLERK OR SECRETARY QP1XSVEE 4 the undersigned, do hteebl' can* (11 that the atlioer all d~ wbo executed ebe fo egowg Agreement an of ad whose tbereae is the dcy maBBedmd ¢Og ot8otr d 1/MSS g/ mused also, has or ber signature and has been minhoriud to asecass do on behalf and W) budget YOU Of Iemee is an 1 0 U8 A. 10/24/99 B, Dowd 'qw „klm: is 1E Ci Cleft OPINION OF COUNSEL An, legal coed to L aOM. I have examined (a) the foregoing Agrwmmt, wWcb. among other things psovidu far the sale to and pox 2 by the Lammas at the Bgoipmmt. M on aaa~ munterprrt d the mdfmw or asohsim d tau whiff. among otherthings sudwinee leaeee to emcom the Ape®mt and id such other opinions docoments and matters of one. as I bast daemad ne asser~m Wom n" w" the Mowudg opin- Based m d w faegeimg. I am d the b&-iag Wine (1) Lessee is a puMie bodycarporata and politic. duy ~ and I-S a sabdea ~ of one or sadtooe of the Moving sovereign povem to the p_ to uz. (W tbq Pww of eminent domaLu. and id Polka Pon,. M Ls. b,. Cedar ehs uponer iba nuts, t tegdaWpow emecde ad de6wo the Agmenem and per(arm I oblsefms alder son AV=-m* 0 Ag e®sot and the ctl m and u ats, bW hnt>teeMi t lo ° 1 dae~ dhmattarhsd tbReuanegofred thaaam hawbeeo dayoshaeimd.ap¢ovad sad asscated by and m behaH d I,emee, and the Apeammt b • va$d and htadfnt obBgatim d lemeavr terc.able m savdmo. wUb aye t + ~ N► X104 a~°'rd and execution of the Agreement and all o t h e r Wooeeftp d lessee relatdug to the VNIMIC lsoa awtsawleted thereby been been performed in accerdaaa with aR op- meetmd brws. P°bsc, ems I- and all other applicable eats and federal brwS and ib1 three is no peveeedmg pmdtog or threatened in any cow an,' before fay governmental esMaity or arbitration, boarder ermunal that, if adversely determmsd, would adversely aftee-the cuntamplated by the Agreement or the a m ty interest d Lesser or its ass4p m, as the an,/ may be. In the Equipment AD capitalized terms herein Wmfl have the same meanings as in d w foregoing Agreement. terser, its successors and assigns wtdhont hemsation my pjo A W Owners, and any counsel renderog an opinion on the ta:sempt status of the interest composts of Rental Payments as entitled to r* on thin opm on, Printed Name: johp Dunn Address: _ p0 Box 2299 VAjj4.--- cc) .81658 TakphansNa- -(303.; d~~-7552 Dated: 10/25/89 *Lt 1 11 ML.1.781 Town of Avon E~T A TO EQUIPMENT LEASEIPUROE AGREEMENT SCHEDULE OF RENTAL PAYMENTS Rental Payment Number 3 4 5 7 9 10 11 12 13 14 15 16 17 18 19 20. 2-1. 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47o Rental Payment interest Pupal Purchase. Amount Portion Portion price $3,043.38 $959.63 $2,083.75 $151,124. $3,043.38 $946.44 $2,096.94 $148,977 42 $3,043.38 $933.16 $2,110.22 $146,8 .97 $3,043.38 $919.79 $2,123.59 $144, 5.71 $3,043.38 $906.34 $2,137.04 $142 460.56 $3,043.38 $892.81 $2,150.57 $1 ,262.45 $3,043.38 $879.19 $2,164.19 $ 8,051.29 $3,043.38 $865.48 $2,177.90 135,827.01 ,043.38 $851.69 $2,191.69 $133,589.54 $ 043.38 $837.81 $2,205.57 $131,338.79 $3, 43.38 $823.84 $2,219.54 $129,074.69 $3,0 .38 $809.78 $2,233. $126,797.15 $3,04 38 $795.63 $2,247 5 $124,506.10 $3,043. 8 $781.40. $2,26 .98 $122,201.46 $3,043.3 $767.07 $2, 6.31 $119,883.14 $3,043.38 $752.66 $2 90.72 $117,551.07 $3,043.38 $738.15 $ ,305.23 $115,205.16 $3,043._38 $723.55 2,319.83 $112,845.33 $3,043.38 $708.86 $2,334.52 $110,471.50 $3,043._38 $694.07 $2,349._31 $108,-083.58 $1,.043-.38 679.19 $2,364.19 $105,681.50- $3,043.38 64.22- $2,379.16 .$1-03;265.16 $3,043.38 $ 9.1 $2,394.23 $100,834.49 $3,043.38 $63 9 $2,409.39 $9.8,389.39 $3,043.38 $61 . 3 $2,424.65 $95,929.79 $3,043.38 $6 3.3 $2,440.01 $93,455.59 $3,043.38 87.92 $2,455.46 $90,966.71 $3,043.38 572.37 $2,471.01 $88,463.07 $3,043.38 $556.72 $2,486.66 $85,944.57 $3,043.38 $540.97 $2,502.41 $83,411.13 $3,043.38 $525.12 2,518.26 $80,862.66 $3,043.38 $509.17 534.21 $78,299.07 $3,043.38 $493.12 $2, 50.26 $75,720.26 $3,043.3 $476.97 $2, 6.41 $73,126.15 $3,043. 8 $460.71 $2,58 .67 $70,516.65 $3,04 .38 $444.36 $2,599. 2 $67,891.67 $3,0 .38 $427.90 $2,615. $65,251.11 $3, 43.38 $411.33 $2,632.05 $62,594.89 $ ,043.38 $394.66 $2,648.72 $59,922.91 ,043.38 $377.89 $2,665.49 $57,235.07 $3,043.38 $361.01 $2,682.37 $54,531.28 $3,043.38 $344.02 $2,699.36 1,811.45 $3,043.38 $326.92 $2,716.46 $ ,075.48 $3,043.38 $309.72 $2,733.66 $46 23.28 $3,043.38 $292.40 $2,750.98 $43, 4.75 $3,043.38 $274.98 $2,768.40 $40,7 .79 $3,043.38 $257.45 $2,785.93 $37,968. 1 $3,043.38 $239.80 $2,803.58 $35,150. KL-& 9 EXAIT A TO EQUIPMENT LEASE/PUSE AGREEMENT (CONTINUED) SCHEDULE OF RENTAL PAYMENTS Renal Payment Rental Payment interest Primipal purchase Number Amount Portion Portion Pries $3,043.38 $222.05 $2,821.33 $320315 50 $3,043.38 $204.18 $2,839.20 $ 3.75 51 43.38 $186.20 $2,857.18 26,595.19 52 $3,04 . $168.10 $2,8 $23,709.61 53 $3,043.38 $149.89 ,893.49 $20,806.91 54 $3,043.38 .5 $2,911.81 $17,886.98 55 $3,043.38 $2,930.25 $14,949.73 56 $3,043.38 $94.57 948.81 $11,995.05 57 $3,043 $75.89 $2, $9,022.84 58 3.38 $57.10 $2,986.28 $6,033.00 59 $3,043.38 $38.18 $3,005.20 5.42 $3,043.38 $19.15 $3,024.23 $1. MLA-787 0 0 ASTI= i Section 1.01. Ddieklosa The following terms will have the meanings indicated below wiles the context clearly requires othsrwlea 'Agent' means any agent for the Registered Owners. if any. to which all or a portion of Lessor's right title and Interest be, to and under this Agreement and the Equipment may be assigned tar the benefit of the Registered Owners. 'Agreement' mans pages one theoogh four of this Equipment LesserPuacbne Agreement. the Tea Designations and Covenants and any other schedule, axhlbit or esQew agreement marls a pact hared by the pwdm berate, together with any amsndmmta to the Agreement mob pursuant to Sattim MW 'Cads' msar the Iatusrl Revenue Code of 1986. 'Comosoaameat Date Is the data when the term of this Agreement and Lessees obligadm to pay rant commo m I'd deteaiallbe thasarbo d t0 tbadsw m wlleh the Egalpmad isso- copted by Loan in the manner daaaibsd to Section 6.01. or ill) the date an which sufficient memaye to pureI the Equipment n dsposttd for that purpose with an escrow ape 'Egdpmat' means the property desribed an the front of this Agreement and all replaamamts. rewire. restorations. modtfiotions and buprovmeL threat or thereto made pursuant to Section TAI a Article VIII. 'Ear" of Ds mW memo an Event of Default deevibed in Section 1201. ",ease Paticipatian Certificates" maanA certificates evidencing a right to receive a pro rata sham of BMW Payments and Purchase Phone paymsuta "ease Term' mew the Origlual Term sod an Renewal Terms. Zasese mama the amity described as such an the front of this Agreement its soccenscre and its assigns. "esaoe maw the entity described as such an the front of this Agreement its successors and Its assigns. 'odgmed Term' msene the period from the Commencement Date until the end of the budget year of Isar in elbet as the Commmmsmt Date. 'Purchase Pries' maw the amount desigasted es loth an Exhibit A hereto that Lomas may. In its discretion. pay to L s or to purchase the Equipment. 'Rsgbored Ownrs' means the registered owners of Lase Participation Certificates. 'Earawal Tame means the renewal terms of ebb Agreement each having a duration of acs year and a ter doatan I with Loeb budget year. 'RanW Payments' means the bade renal p>Vanants payable by leases pursuant to Srction 4.01. -Ranted Peymant Pariod' mesa the psniod beginning an the day a RenW Paymsmt le dms and andimg star daylitre the next Rental Payment Is due. 1% fbat Rental Payment Pried shah begin an the Commencement Data in all eases. If Renee Payment Periods are moatbly. subsequent Rental Payment Periods shaft be& an the am day of each month after the Commencecemens Date, if Rental Payment Periods are quarterly, subsequent Renee Payment Periods shall begin an the same day of each third month after the Commeneammt Data. If Renal Payment Periods are - somismemaL subsequent Rental Payment Pawds shall begin an the same day dash sixth month after the Commencement Dole. U Rental Peg Per ore amual subsequent Rental Pay amt periods shall begin an the anniversary of the Commencement Date in each year. If the Commenciment Dais is the 21kb, With or Slot day d a mouth. my subsequent Renal Payment Pr that would otherwise begin an the 29th. 30th or 31 at of a mouth that does net include such a data "begin an the lam day of the month -State* moans the state in which Lenses, is located. `Ibx Designations and Covenantee means the document entitled 'Tax Designations and Covenants.' H my. executed by Lessee and attached bran. 'Vendor' means the manufacturer of the Equipment an well as the agents or dealers of the manufacturer bum whom Lessor purchased or is purchasing the Equipment ARTICLE 11 Section 2.01. Representations and Covenants of Leasee Isense represents, covenants and warrants for the benefit of [asear and any Registered Owners (as breinbatae defined) as follows: I&) Levee is a public body corporate end politic duly organized and existing under the constitution and laws of the State with full power and authority to enter into this Agreement and the traaaaetiana contemplated hereby and to perform all of its obligations hereunder. th Lessee has door authorizthe execution and delivery ed thereof or by other of appthis Agreement by in opm action ropriate official approval and all requirements have been met and procedures, have occurred in order to wmw the validity and the requisite majority enfaee"ty of this Aof the ®roemaot W blo event or condition that constitutes, or with the giving ot-notice or the lope of time or :both would constitute. ion Event d Dsfanlt driste at the due breoL_- 4 Losses has, braoaedaacs with the. requirements of law, fully budgeted and dated sufficient funds for the current budget yew to make the Rental Payments scheduled to come due pxaposea during the Original Tam. and to meet-its other obligations for the Original Term. and such funds have net bem-expended for other lei tease will do or cause to be done all things necessary in preserve and keep in toll force and effect its existence as a body corporate and politic . . M [eases has complied with each public bidding requirements es may be applicable to this Agreement and the acquisition by I sense of the Equipment (g) During the Lem Term, the Equipment will be used by Lessee only for the purpose of performing essential governmental or proprietary functions of Lessee consistent with the permissi- ble scope of Lessee's Authority. IM lessee will annually provide Lessor with current 6nemai statements. budgets. prods of appropriation for the ensuing budget year and such other finAndd information relating to the ability of Lanese to continue this Agreement as may be requested by Lessor. (0 Lasses will comply with all applicable provide of the Cade, including -About hn nation Sections 103 and 148 thred. and the applicable regulations of the Treasury Department to -,imam the escladon of the interest components of Rental Payments from gross income for purposes of federal imeome •--n+^^ Oi l.eeeee will use the proceeds of this Agreement as soon as practicable and with an reasonable dispatch for the purpose for which the Agreement has bum entered into, No pert of the pro coeds of the Agreement shell be invested in any s canties. obligations or other investments or used. at my time, directly or indirectly. in a manner which. if such use had berm reasonably an- ddpsW on the date if issuance of the Agreement. would have canned my portion of the Agreement to be or 'arbitrage bonds' within the meeting of Section IOXbN2) or Section 148 of the Code and the applicable regulations of the Treasury Department Section 2.02. CrfJ>esdoe as to Arbitrage. Ieseee hereby represents as follows la) The estimated total costa of the Equipment will net be leas than the total principal amount of the Rental Ptiymmta (b) T7e Equipment has been ordered or in expected to be ordered within six mouths of the Commencement Date and the Equipment is expected to be delivered mad installed, and the Vendor fully paid. within one year of the Commencement Data W cease has not created or established and does not expect to create or establish. any si,lring fund or other simil fund 01 that is reasonably expected to be used to pay the Rental paymwts. or (h) that may be used solely to prevent • defanlt in the payment of the Rental Payments. Id) The Equipment has not ban and is not expected to be sold or otherwise disposed of by Isaacs tither in wide or in major part prior to the lea maturity of the RdmW Payments. (W To the beet of our knowledge, -forms- and beliet the above expect e4ans are reasonable If) I sese line net been notified of any listing or proposed Bating of it by the Intrnal Revenue Service as an issuer whose arbitrage certificates may not be retied upon ARTICLE III Section 3.01.1esse of Eqwpxwt I.esecr hereby demues leases and lets to Lesses. and lesese rents, leases and hues from Iaaeor. the Equipment in accordance with this Agreement for the Iaase Term T br lease Term may be cmunued. solely m the apt_ of Leseua at the end of the Original Term or say Renewal Term for an ridi imd Renewal Term cep to the mrdmmm Lam Trm. At the and of the Origmd Term and at the end of each Renewal Term until the maximum Lease Term has bow completed Iasee shall be deemed to he" exercised its option to continue this Agreement for the nert Renewal Tam unless leases shall have terminated this Agreement pursuant to Section 308 or Section 10.01. The I and conditions during any Renewal Term shall be the same as the tame and conditions during the Original Term. except that the Rental Payments shall be as ban' d an E>h;hit A brew. Section 3.02. Combination of lease Term. leenee intends, subject to Section 3-03. to cond the Lase Tam through the Original Teem and an Renewal Terms and to pay the Rental payments hereunder. lessee reasonably believes that legally available funds in an amount sufficient to mate all Rental Payments during the, 1, - Lase Term ean be obtained. lease further in- tends to do an things lawfully within its power to obtain and maintain funds fry which the Rental Payments may be made inebsdimg maimnB provision for such payments to the extant necessary is arch budget or appropriation request submitted and adopted in accordance with applies ble laovisims of law, to have such portion of the I Ig I or appropriation request approved and to ex- haust all available reviews and appeals in the event such portion of the budget or +pprol ria iao n I if I . is net approved. Section 5.03. Naenpp+oprentim. Loom is obligtlad only to fray such Renal Payments under this Agreement as may lawfully be made from funds budgeted and sg r I; fated for that par peas during Losses 'a then current budget year. Should Imsee fan to budge, appropriate or otherwise male available toads to pay Rental Payments following the then current Original Term or Removal Tana this Agreement shall be deemed terminated at the and of the than dareent Original Term or Renewal Tam. lessee agrees to deliver notice to Lessor of writ termination at least 90 days prior to the and of the than current Original Tam or Renewal Tam, but failure to give suh notice shall not extend the tam beyaod sub Orighud Tom or Renewal Term U this Agreement in terminated in accordance with this Section. Lessee agrees to peaceably deliver the Equipment to Lessor at the lotationlel to be specified by Lasor. Section LOO Nousubstitadon. To the extent permitted by law, Ieesee agrees that if this /agreement is terminated in accordance with Section 3.03 Lessee will aft purchase, lesse or rent equipment performing functions dmnar to those performed by the Equipment for a period of 90 days following the end of the than correct Original Tam or Renewal Torun provided thin restriction Shan not be epplicabb in the event the Equipment Shan be sold. re-leased or otherwise disposed of by Loom and the amount neodoed from such iliSpositio n lees an costa of such ale or disposition. is alffident to pay the than applicable Purchase Price. This Section shin remain in dull farce and if - notwithstanding the termination of this /agreement M1,2.787 ARTICLB IV Ssxee 4.01. ReaW Payments. Lessee shall is amptly pay Rental Payments. exclusively from ItBally avaiebls Ittade to lerr[ul moo' of the United States of America to Lover on the Com- menoemant Date and on the first day of each Rental Payment Period thereafter. in such amounts as described on Exhibit A bersto. leases shall pay Lessee a cheap as any Rental Payment not paid an the date such payment is des at the rate of 18% pea annum or the maximum amount permitted by law, whtehsvar is law from each dates A peateo of each Rental Pay ment Is paid as. and repeats pay ment of. Interest. a sat forth on Exhibit A Mato. Section 4.04. R=W Payteeets to Constitute a Current Expenses of Lessee. lessor and Leave understand and tatand that the abNSation at Lases to pay RmW Payments betemtdr than wmaltots • comsat expanse Of Lasses and shah not in any way be consumed to be a debt of Lessee in contravention of soy applicable constitudmal or statafary Iiniftation or rtpu4smant cooaro- Ins tits ersatioo of ladthtsdnas by lessee. nor shell anything contained harem uxnatitute a pledge of the pond ten rwvenoas. Iun I or moo I d L.aaaaa Section 4.08. RENTAL PAYMENTS TO BE UNCONDITIONAL EXCEPT AS PROVIDED IN SECTION 9.09. THE OBLIGATIONS OF LES= TO MAKE RENTAL PAYMENTS AND TO PERFORM AND OBSERVE THE OTHER COVENANTS AND AGREEMENTS CONTAINED HEREIN SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVEN IS WITHOUT ABATEMENT. DIMINUTION. DEDUCTION. SETOFF OR DEFENSE. FOR ANY REASON. INCLUDING WITHOITT LIMITATION ANY FAILURE OF THE EQUIP- MENTTO BE DELIVEREDOR INSTALLED. ANY DEFECTS. MALFUNCTIONS. BREAKDOWNS OR INFIRMITIES IN THE EQUIPMENTORANY ACCIDENT. LONDEMNATION OR UNFORESEEN CIRCUMSTANCES. ARTICLE V 9aetiao 6.01. Delivery. LsteBattea ear Acceptance at eh. Bgidpwt Lessee ,haft oeetrr the Eguipmm cause tits Equipment to bs delivwed sad ineraLld atthe tacation apldBad on the frost d the Agreement; and pay say and s.0 delivery and installation costs is connection tharewttb. When the Equipment has bean daflm and installed, Lassa" Immediately accept the Equipment and evideaca said aawptanca by executing and defivring to Lear an aceeptanoe certificate acceptable to Leaw. Swd= 6.04. REOY=ad d Egedp mmL lAmw shat! provide Lessee with quiet as and enjoyment of the Equipment during the Leese Tarm, and Leans"paaaambi1y and quietly hem hold and enjoy the Equipment dmfas the leaseTrm, without suit, trouble r hindrasee from Later, except a rhrwia expressly aft lath to this Apsament. No Rsskttsad Owm aheR hrteaMerw with each qmM on and enjoyment during the Lease Team so lug m lessee is cot in dsftntt under this Apsement. Section I1119. Location; hepecdes. Ones Installed. the Egfipmsat will not be mead hum the location specified on the heat at the Agreement without Lseeoes consent, wfdrb aonsant sha0 not be oaeeaooably withheld. Leaser shall have tbs right at all reasonable times during raid business haws to enter into and upon tM property of Lessee for the purpose of inspaWrts the Equipment. Section 5.04. Use sad Maintenance of the Fqulposot. Lessee will not install use. operate or maintain the Equipment improperly, earreleady. in violation of my ayptla6ls taw or in a maoaor contrary to that occlamoleted by the Agreement. Lessee shall provide all permits and ficensea if any. necessary for the installation and operation of the Equipment. In addition. Lessee apses to comply in all respect with s.0 applie" taws. regulations and rotisp of any legislativs. executive. administrative or judicial body. provided that Lessee may contest in geed faith the validity or sp- pUeatics of any such law, regulation or ruling in any reasonable manner that does not. to the opinion of Lessor. adversely affect the interest of I caeca in and tai the Equipment or its interest or rights under this Agreement. Lamas asren that it wiL at Lessee's own coot and expense. mains_, preserve and keep the Equipment in pod repair and worktes or,des Lessor sha0 haw no respooaiMfity to maintain. repair or make improvements or additions to the Equipment. Upon the request of xeaor. I teem will enter into a maintenance, contract for the Equipment with Vendor. ARTICLE VI Section 6.01 AUe to the Egdpmwt. Upon accepts blee of the Equipment by lessee title to the Equipment shall vest in Lessee subject to lessor's rights nester this Agreement; provided that title shall thereafter immedlarely and without any action by teesee vent in Lessor. and Lessee shall immediately surrender poaaeemon of the Equipmeatto teeeor Agreement other than termination pursuant to Section 10.01 or Ibl the occurrence of an Event of Defauh It is the intent of the ripen lei any termination of this Section shall occur automatically without the necessity of any bill of safe, certificate of title or other instmonent of eon parties hereto that any treader of laoser pursuant m the veyance. I.eanee shall. nevertheless, e:ecote and d title deliver to deliver any such instruments as Lesser may request to evidence such trander. Section 8.04. Security Interest. To secure the payment of all of Ieaaes'a obligations under this Agreement, I.eeeee hereby pants to Lessor a aewrity interest constituting a first lien on the Equipment and on all additions, attachments and accessions thereto, substit utioos therefor and proceeds therefrom. I.esaee asrese to execute such additional documents, to farm satfdaetory to laser. which Ieeeor deems *neosesary or appropriate to establish and maintain its security interest ayd the security interest of my assignee of Lesser in do Equipment. - - Section 6.09. Personal Property. The Equipment Is, and will remain personal property. 'The, Equipment will not be deemed to be affixed to or • situated. notwithstanding that the Equipment or any part thereof may be or hereafter become in anmennei Tort at the real-estate on which it may he any Physically affixed or atteehed to such real estate or say building thsreas. Upon the request of Ieaeer. Lessee will at Lessee's expense, furnish s waiver of any interest in the Equipment-from any party having an interest in any norh real estate r building. ARTICLE VII Section 7.01. Lima. Taxes, Giber Governmental Charges and Utility Charges. Lessee shall keep the Equipment free of all levies, liens and encumbrances except those created by this Agreement. The parties to thin Agreement contemplate that the Equipment will be used for a govrnmentat or proprietary purpose of leases and that the Equipment will therefore be exempt from all pwparty taxes. If the use, possession or aogsisitio o of the Equipment is nevertheless determined to be subject to taxation, Testes shall pay when dm all tam and goveanmantd charges lawfully assessed or levied against or with respect to the Equipment. I tease shall pay All ut>lity and other charges incurred in the use and maintenance of the taxes or charges as the same may become dux: provided that, with respect to any such taxes or charges that may lawfully be paid m instwn_ents uvw a fit' Lame be duen cli pay web pay only sorb installments as sec us during the Lease Term. period of years leases shall bs ahligatd to Section 7.04. leaares ce. At its own expense, I esaee shall maintain (a) casualty msurs ooe insuring the Equipment against bee or damage by fee and dl ate risks coven by the standard extended coverage endorsement then in use in the State and any other risks reasonably required by lessor in an amount at least equal to the then aypbcabh Purchase Price of the Fguipmeat, (b) liability ilk- that proteete I.eear from liability in all meats m form and amount satisfactory to Lesser, and lei ova has ' compeasaticia coverage se required by the laws of the State; provided that, with I eesr's prior written ccasant, Iessee may self-insure against the risks described in dausea Ise and N. Ail insurance from provided. Loosens shall furnish to Lessor certificates evidencing such coverage throughout the I.eaae Twin P casualty keeee shaft be payable se hereinafter AR etch insurance shall be with insurers that are acceptable to Lessor. shall came Ieasee and lenses as inssreds and shall contain a provision to the effect that tech m oranee shall not be cancelled or modified materially without first giving written notice thereof to Lessor at least 10 days is advance of such cancellation or modification. A0 such casualty inwrasce shall contain a provision mmirin8 any losses payable to Lessee and Lessor as their respective interests may appear. Section 7.0.9. Advances. In the event Lessee shall fail to site maintain the insurance required by this Agreement or keep the Equipment in good repair and wonting order. Lessor may. but shall be n~ no obligation to, purchase the required insurance and pay the test of the premiums thereof and --ce and repair the Equipment and pay the coat thereof. All amounts so advanced by Ieseor shaft constitute additional rent for the then current Original Term or Rerowd Term and Iensee covenants and agrees to pay web amounts so advanced by Ieesor with interest thereon from the due date until paid at the rate of 18% per annum or the ma-mum amount permitted by law, whichever is less. ARTICLE VIII Saetiao 8.01. Damage. Destruction and Condemnation, If W the Equipment r any portion thered le destroyed, inwholecrinpieL or is damaged by ntal body fensor other n or title t0. the temporary use of. the Equipment or any pert thereof shall be taken miler the exercise or threat of the power of eminent domain & or ccorporatio by am governmental or by any person. . firm or on ac- ting pursuant to governmental authority. Ieeaee and leaeor will cause the Net Proceeds of any inauranca dons condemnation award or sale ender threat of condemnation to be applied to the preempt replacement repair. reatratim modi5ntim or improvement of the Equipment, coJese lessee shall he" exrosed its option to purchase the Egoipmant purwaot to Section 10.01. Any balance of the Net Proceeds remaining after such work has been completed shall be paid to Lessee Pr purposes of this Article, the term 'Net Proceeds' shall mean the amount remaining from the gross proceeds of any insurance denim condemnation sward or axle ender threat of ausdem nation after deducting all expanses, including attrnsys' fees. incurred m the collection thereof Section 8.04, lwd&ksey of Net Proceeds. If the Net Proceeds are insufficient to pay in fun the cost of soy repair, restoration, modification or improvement rdrred to in Section 8.01. Lessee shall either W complete such replacement. repair. restoration, modifiutios or improvement and pay any costa thereof in eseees of the amount of the Net Proceeds, or (b) preh me lessoi e interest in the Equipment pursuant to Section 10.01. The smomrt of the Net Proceeds, if any. remaining attar completing web ropes. rodaratiao, modifiatiee w improvement r after purchaalng Letter's interest in the Equipment shall be retained by Ieeeea U Ieeeee shall mace any payments pursuant to this Section. Eesses shall not be entitled to any reimbursement thrdor from I.sseor nor dial) I stets be entitled to may dimiention of the amounts payable ender Article IV. ARTICLE IX Section 8.01. DISCLAIMER OF WARRANTIES. LESSOR MAKES NO WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY OR FITNESS FOR PARTICULAR PURPOSE OR FITNESS FOR USE OF THE EQUIPMENT, OR WARRANTY WITH RESPECT THERETO. IN ML-&T87 NO EVENT SHALL LESSOR BE LIAR ANY INCIDENTAL INDIRECT. SPECIAL OR CONSM&AL DAMAGE IN CONNECTION WITH OE ARIJWIO OUT OF 7H18 AGREEMENT OR THE EXISTENCE. FURNISHING. FUNCTIONING OR LESSEES USE OF ANY ITEM. PRODUCT OR SERVICE PROVIDED FOR IN THIS AGREEMENT. Section 9.09. Vow" a Waetentles. Lwor hereby krrevocebly appoints Lasses its appmt and attormy-in-fact during the Lraa Term so long as loaves stall not be IS ddtult hus®der, to assert tram time to time whatever rhdma will rights Wacludbts without IimiNtion warrtntles) related to the Fquipment that Lessor may have against this Vendor. L.waa a Bola toady foe the breaeI of such warranty. End or rotation shall be against ebe Vendor of the Equipment and not against Lasser. Any such matter shall not hue my d ba whatsoever on the rights and obligations, of Law with respect to this Agroment. Including the right to naive full and timely payments batwmder. Loess; exprsaab acknowledges that Laaaor mates, and ha made, no npreeotationa or warranties whatsoever as to the existence or the availability of such warranties by the Vendor of the Egolpmmt. ARTICLE X Section 10.01. Perclisse Opdm. Leaoa "be" the option to purchase Lessor 'a Interest; in the Equipment. upon giving written notice to Lessor at Peat 60 days be9ore.the dated purehaw at the fodowing than and upon the following terms W On the lot day at the Original Term or any Be~ nI*= then in eftaet. upon payment in full of the Renal Payments than doe bareander pRea Ns than appfieahfa Purchase Price pia 61.00 tolowr or (b) In the event of substantial damage to or destruction or condemnation of substantially all of the Equipment, an the day Lean specifies a the purchase date In I.Mes's notice to Laaor Of its exerefn of the purchase aption, upon payment in full of the Rental payments then due hereunder phn the then app, tiuhle Purchase Price to Lam. ARTICLE XI Saetim 11A1. Assignment by Lesson. Lossmb right. title and fittest In. to and under this Agreement and the Equipment may be assigned and reassigned in wbob orth partto nos ormae -up- or sabeesfgrms s; by foam WhI to the extent d by Interest. by any Registered Owner, without this srnedty of obtaining the consent of Ltleq Inov shies led mW w dgament, other than m oslgnmsoc to or by a Registered Claude. AA not be efiactlve until Losses bell ladu written no" signed by the asdptor. of the name, address and tag idsndficadm mbar of the m a iggmm andan of all Ito «ba Registered Owe shall not be effective mtil it is registered on, the registration boob kept by the Agent as sent for Lassa Laguna shall resin all such Registered Own" and shall mete all payments to the aaigrme or assignees designated jn such register or. In the eve of Registered Owners, to the A old gent mortgLAM PwtkiPatiMC4rdfica&mumW agee or financing UU@mmts that may be requested by Lessor or my sssipss to peo titeet he Interests in the Equipment ad In thin Agreement. L seas shall not have the right to and shah not assert against any assignee or Registered Owen any dsim, counterclaim or other right Lees may have against Iesaar. Section 11.09. Assignment and Subleasing by Lessee. None of Lessee's right. title and interest in. to and ender this Agreement and in the equipment may be assigned or encumbered by Lases for any reason. except that Lessee may subbase all or part of the Equipment if Iossee obtains the prior written consent of Lessor and an uptown of nationally recosdned counal in do am at to exempt municipal ob0gatims astidectry to Laaor that sock subindng will not adversely affect the azdos on of the intereft components of the Rental Payments firm gross breams for federal income tall purposes. Any such subbase of an or pert of the Equipment shall be subject to this Agreement and the rights of the Leeson in. to and undrr this Agreement and the Equipment. ARTICLE X11 Section 14.01. Events of Ildault Defisad. Subject to the provisions of Section 3.03. Any of the following events shall constitute an 'Event of Default' under this Agreement W Failure by Lessee to pay any Rental Payment or other payment required to be paid hereunder at the time specified herein- 0rf Failure by I- to observe ad perform any covenant, condition or agreement on its part to be observed m performed, other than as rdarrad to in suhperegraph W above, fora period o[30 days after written notice specifying such faflu a and.rpoesting that It be remedied is given to Ioasee by lesw, unless Ieseor .ban agree in writing to an axtmdm of such done prior to its expiratin. provided that, it the fsfiure stated in the notice cannot be corrsetsd within the applirabb grind. Ieesar will not unreasionabily its consent to an eottanioo of such thus. _if correedve action b instituted by team wit . -the sppficeEie period and dWgendy pursued antsy the ddmh is oorrmted icf Any atstaoent, representation or werrmty made by Lasses in orpursueut to this Agreement or Its aeecution. delivery orperfmmsooe shall peeve to have been Islas, Incorrect, ®desdiog or breached in say'material respect on the date when msdeo ' Id) Lessee ehan W apply lor or coaaent to the appointment of a receiver, trustee, custodian or liquidator of Leases cr d ail r a mbetandai part of the aaseb d Lesom (W be m.bie tallor- admit in writing its insbffity genrany opar its debts as they beexrme due, liii) make a general assignment for the benefit of creditors. Ilvl have an order for raid entered against it miler plicable federal bankruptcy law. or Iv) fib a voluntary petition in bankruptcy or a petition or an answer seeking reorganization or an insolvency law or any answer admitting the material arrangement with seduce or taibs sdvnttags d any allegations of • petition filed against lessee in any bankruptcy. reorganization or insolvency proceeding; or W An order, judgment or decree shall be entered by any court of competent jurisdiction. approving a petition or appointing • recover. trastse, custodian or HOW ater all asw ord allora substantial part of the assets of Iessee in each use without its application approval or consent. and each ardc, judgment or decree shall continue anstayed and in aBaet for any period of 30 consecutive Section 1102 Remedies on Default Whenever any Event of Default exists. Iessar shall have the right, at its sole option without any farther dematd or notice, to take we or any emmhrat tion of the following remedial stem W Bywrittenmtic e talassee Lessormey dedareallBentalPaymmtaand other amounts payable by Ieasee hereunder to the end of the then current Original Term or Renewal Term to be doe; (b) With or witbomt terminating this Agreement. Lessor may enter the premises where the Equipment u locoed and retake pwasesmm of the , penes topeemptly r turn my orall d the Egaiprmmt tothe poaeea kodLaw at such piece within the United States as Ieseor shah specify. and men or Inssge the, re, Equipment ee d Leon this a as count of I essas subbase the Equipmentcontinuing; o th, to hold Lessee Gable for the difference between W the Rental Payments and other amounts payabke by lessee beea¢md to ar the and of the than current Original Term or Renewal Tern, and (ill the net pmceds of any such sale, leasing or subleasing (after deducting all menses of Lesser in exercising its remedies ander this Agreement. inrhding without limitation all expanses of taking possession storing, reconditioning and selling or t the Equipment and all and (d Lessor may take whatever action at aw or in equity may appear necessary or desirable to enforce its rights the *wow of the L anetrooers and attmnsyJ hiss); Section 1203. No Reedy Exclusive. No remedy herein eomferred upon or reserved to Lesser is intended to be es<hrsive and every such remedy ahail be cumulative and shall be in addition to every other remedy given under this Agreement now or hereafter musting at law or in equity. No delay or omission to exaruse any right or powc soeaing upon my Woolf, shall impair any sorb right or power or shall be construed to be a waiver thereof, but any such right or power may be exercised from tine to time and as often as may be deemed arcise any remedy reserved to it in this Article it shall not be necessary to give any notice other than mach notice as may be aqua in this Article expedient In order to entitle lessor to az• ARTICLE XI. Section 13.01. Nations. AG nodose, certificates or other communications hereunder shall be sutfrimdy, given and abaft be deemed given when delivered or mend by registered ma7, postage prepaid. to the parties hereto at the addresses on the front of this agrammt (r at such other address an sitter party beroto shag disagusts in writing to the other for moan to such party) to any assignee at its address as it appears an the registration books Maintained by I eases or the Agent. Section 13.02 Release and Indemnification. To the silent permitted by fan, leases aW indmnity, protect, hold harmless, save and keep harmless lessor from and agoras any and all liability, obligation, lose, claim, tat and damage whatsoever. regardless of cause theeot. and all esp eases in caonection therewith tmdodiekg without limitation counsel f sea and expacses and any federal In- come tax and interest and penalties emneded therewith imposed m intamt recei v ) arising out of or as the result of Ill the entering into of this Agreement. (bl the owwrhio, of w itm of the Sgafpmmt ci the ard- mg. aogmdtion use. operstiaa condition purchase, delivery. rjeedm storage erretm of any ilea of the Equigemt Id) or any accident In comeedm with the opQadoa awe, condition. possession, storage or return of my itm of the Equipment resulting in damage to property or injury to or death to any peracer sndlr (d) Nis' I of any say mamal misrepresentation cautioned herein The indemnification, arising order this paragraph ahdk continua in fan fora and effect notwithstanding the inn ®vena herein or this Agreement or the termination of the Lean Term for any rases- ~ Paymest of dl obligations i ooe andar thin Section 13.03. Retire Agreement This /agreement constitutes the entire agreement between lessor and Levees Section 13.04. Bladlag Effect This Agreement shall inure to the benefit of and shall be binding open lessor and Lessee and their respeedva sucoesairsandeedgme. Suction 13.06. Severshifity. In the event any provision of this Agreement shall be laid invalid or unenforceable by any court of competent jurisdiction, wad boiditeg SW ant invalidate or render unenforceable any other previmm hereof. Suction 13.06. Ammdmenta. Change and Modifications. This Agreement may be amended by lessor and lessee provided that no amendment that affects the rights of the R*gWwW Owners shall be effective anbss it shall have been consented to by the Registered Owners of a majority. in principal amount, of the lease Participation Ce tifitan, if imy. than omutaodimg. Sm 13.0?. Execo" in Counterparts. This Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall comedtuts but one and the same instrument Section 130& Applicable Lew. This Agreement shall be govrnd by and construed in accordance with the boa of the State. Section 13.09. Captions. The captions or headings in this Agreement are for eenverimce only and in no way define limit or describe the scope or intent of any prvvidms or sections of this Agreement. BIL-4- ? 18 PAYMM 1 2 3 5 6 7 8 10 13 12 13 14 15 16 17 18 19 20 - 21 22 23-- - 24 25 _ .26 _ 27 28 29 30' 31 32 33 34 35 36 37 38 39 40 41 42 43 .44 4$ 46 47 48. PERIODIC Lung INTXPJW PAYXWT PORTI©R 3,043.38 3,043.3$ 3,043.38 3, 043.:38 ' 3,043.38 3,043.38 3,043.38 3,043.38 3,043„38 3, 043.38 3,043.38 3,043.38 3,043.38 3.,043.38 3,043.38 3,043.38 3,0443.38 . 3,043.38 3,043.38 3,043.38 3, 043.38 3,043.38 37,p043-.38 3!043.38 31043,38 1,043.38 3;043.38 3;043:38 3,043:38 3,.043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,043.38 3,04#,38 3,'043 38 3,043.38 3,043.38- 3,043.38 3,-043.38 959-63 9461:44 933.16 919.79 905.34 892.81 879.19 863„48 851.59 837.81 823.84 809.78 795.63 781.40 767.07 752.6'6 7318.15 723.55 708,86 694.07 679.19 664.2-2 649.15. 633.99 618.73 603.37 887:92 572.37 556.72 540.97 525.12 509.17 493.12 476.97 460.71 444.36 427.90 411.33 394.66 377.89 361.01 344.02 326.92 309.72, 292.40 274.98 257.45 239.80 FOR:" BID. ITBM $ $TI9'ItU D MWct-pAL PURCHASE P+OZIO PRIG ..w..'.r..+..r..w s...r.r++lYK►~ri.o.isM 2,083.75 *21096.94 2,110.22 2t%23.59 2,137.04 2,150.57 2,164.19 :177.90 $2,191.69 - $,205.57 j2,21954 2t233.60 2,.247..75 2, 2+61.98 2,276.3-1 2# 290, 72 $2,305.23 $2,319.83 2e334.52 2,349.31 2,364.19 2,379.16 12;394.23 $2,09.39. $2,42.4,65 .$2,440.01 ;2,,455.46 2, +171..01 - 24'86„66 2,502.41 2, 51.8-.26 2,534.21 " 12,550-26 $2,566.41 2 s 58 2. 67 2,599.02 2,615..48 $2,632.05 $2,,.648,72 2,665.49 2,682.37 -121690-36, x,73.6.46 r#2,733.66 $2, 750.98 $2,768.40 2s785.93 2,$03.58 5349,437.48 147,340.54 245,230.32 143,106.73 1140j969.69 138,819.12 136,654.93 134,477.03 132,285,34 130-j079.77 127,860.23 125,626.63 $123,378 89 121,116.-91 118,840.60 3,16, 549.88 114,244.65 111,924.82 109,590:30 107.,240.99 1104,876.80 102,497.64 1$97,694.08 $95, 369..37 $92,829.36 -$90,373,90 8T 902.89 85,416.23 82,913.82 $80,395.56. $77,861.35 $75,311.09 $72,744.68 $70,162.02 $67,563.00 464#947.S2 ,$62,315.47 $59,666.75 $$7,001.26 $54,318.99- 011619o53 48,903.07 146,169.41 $43,418.44 $40,650.04 $37,864.11 $35,060.54 ° 31 ,#43.38 32$,12 $2,518.26 ~ 8039556 32 3,043.38 09.x.7 2,534..31. 77,861.33 33 3,043a30' 49$s13 2550.26 750311.69 34. 3,443.38 M.97 2,566.41. 72,744.68 3S 30043.39 1 60,71 2t$92.67 5 70,1,62.02 36 3o,043.38 44.36 1599.03 67#563.00 37 3,1143.38 27.98 ,615.48 4,947.02 38 3,043138 411,33 $2,632.05 62,315.+7 39 f3:043.38 394,66 2„64&.72 9, 666:75 40 3, 443.38 377.89 21665.49 57, #102..26 41 3,843.38 361.01 2 6$2.37 $4,-318.89 42 ,043.38 344.02 2,699.36 : 31,619.!3 43 3,443.38 326.92 2*716.46 48,903.07 .44 3,043.30 309.72 $2,,733.66 46,21.69.41 4S 46 3,043.38 3 043 38 292.40 274 98 2,750.98 2 768 4 3,418.44 . , . , . 0 40,650.-114 47 03,043.38 257.4-:5 „785.93 + 37,8'64.11 4$. 3,043.38 $239..80 ,603.58 35,060.54 49 3,043.3$ 222-.05 20621.33 32,239.21 50 3,043.18 204.18 2$39.20 29,400.01 51 3,043.38 186.20 21857.16 26,$42.83 52 3,043.38 168.10 2,875.20 23,667.S$ 53 3,043.38 1 149.89 2,$93:.49 20,774.06 54 3,043.38 131.57 2,92.1.81 17,862.25 55 3,043.38 113_.13 2,9312.25 14.932.00 56 3, 043.38 : - $94.57 ' 21948.81 12.,.983.29 57 3,043.38' $75,89 2,967.49 $9,015.70 58 3,043.38 57.10 2,986.28 6,029,42 S9 30043.38 38.18 1 $3,0.05.20 3,024.23 .60 3,043,38 19.15 $3,024.23 $1,0Q CHRYSLER ciivna Min m . (CROSS OUT ANY INAPPLICABLE PARAGRAPHS. INCLUDE PARAGRAPHS 1.2 AND 3 TO DESIGNATE THE AGREEMENT AS A 'QUALIFIED TAX-EXEMPT OBLIGATION': INCLUDE PARAGRAPHS 1, 4 AND 5 TO QUALIFY FOR ARBITRAGE REBATL EXCEP- TION FOR SMALL GOVERNMENTAL UNITS] TAX DESIGNATIONS AND COVENANTS 1. The coven ~aa he"a aft forth as intended to be, and hereby ass. incorporated late, the Equipment LeaaNpue► chase Agreement, date V 19 (the •Ageeement"L between Chrysler Capital Public Fiance Corporation (1,asser, and Tnwn of Aven ("Leesee'►. and exempt as otherwise defined herein, all teens defined in the Agreement ehaIl have the same meaning herein as In the Agreement. The Commencement Data of the year 19-1Q_ Ithe 'Issuance Year"). Agreement or will be in the calendar 2. Lessee hereby designates the Agreement as a 'qualified tax-exempt obligation' Y defined in Section 265(bN3) B) of tie Coda. The W gregate face amount of all tax-exampt obligation (excluding private activity bonds other than qualified 501k1(3) bonds) issued or to be issued by I.easee and all subordinate entities thereof during the Issuance Year is not reasonably expected to exceed $10,000,000. 3. Lessee hereby covenants that I.eYee and all subordinate entities thereof will not issue in excess of $10,000,000 of qualified tax-exampt obligations (including the Agreement but excluding private activity bonds other than qualified 601,103) bonds) during the Issuance Year without first obtaining an opinion of nationally recognised counsel in the area of tax-exempt municipal obligations acceptable to Lessor that the demigne, tion of the Agreement as a 'qualified tax-exempt obligation' will not be adversely affected. 4. Lessee represents and warrants that it is a governmental unit under the laws of the State with general taxing powers; the Agreement is not a private activity bond as defined in Section 141 of the Code; 95% or more of the net proceeds of the Agreement will be used for local govern, mental activities of Lessee; and the aggregate face amount of all tax-exempt obligations (other than private activity bonds) issued or to be issued by the Lessee and all subordinate entities thereof during the Issuance Year is not reasonably expected to exceed $6,000,000. 5. Lessee hereby covenants that Lessee and all subordinate entities thereof will not issue in excess of $5,ooo,000 of tax-exempt bonds (in- cluding the Agreement but excluding private activity bonds) during the Issuance Year without first obtaining an opinion of nationally, recogniw ed counsel in the area of tax-exempt municipal obligations acceptable to Lessor that the excludability of the interest on the Agreement hvm income-for-federal tax-purposes willnot be adversely effected._ gross psted~ October 24, 19 8 9 [SEAL] ATTE (9 C zel~oz Title: Patricia Doyle, Ci Town of Avon By Title: Allay Nottin&ams, Mayor CERTIFICATE OF CLERK OR SECRETARY OF LESSEE 1. the undersigned, do hereby certify that 0) the foregoing Tax Designations and Covenants were adopted and approved by action of the governing body of Lessee at a meeting duly called, regularly convened and attended throughout by the requisite majority of the members thereoL Iii) the officer of Lessee who executed the foregoing Tax Designation and Covenants on behalf of Lessee and whose genuine signature appears thereon is the duly qualified and acting officer of Lessee as stated beneath his or her signature, and (in) said officer has been authorized to execute the foregoing Tax Designations and Covenants on behalf of Lessee. Dete~ October 24, 1989 111,40.787 ea• 538- Inf ofmation Retu- tit fax! coeLIO 60 r 11 Governmental 60 a soft U ft" OaaeAia4 4 a! sel"" • i1Mer %a%& t+e~a il►lt.w dk&S ~Ov Moglow SPUN NN Fees 803840 R fosse win is WAM list 1 TOM s vWwm.e O.s W"m otter Avon, Colorado 81620 lip N luw check bo es that a 7 Chock to dlwAft an to a other nt vnw antimatron bowie► ❑ • ba d but& m a the tom of s less a r'stath+eM so ► 0 ts~ ~ se rl*m do boom . . . . . . . . . . . . . . . . . • • . . . . . • • • tiatety 11 Mousier . . . . . . . . . . . . . . . . . . . . . ' . . . . . U, 8 MOM //yy~am~ • • • • • • • • - ' W at 1q t9m" waea~rn. - • Mann ak rn~ - ~ 17 iirW rAdu ft : 1• Entire issue - . 1! hotseds used for accrued iNtennt . 20 !►oaeas used fa bond issuance tests (mctpft.• dscouM) . ' ' • . . 21 Proceeds used to crew of lmaceament . . 22 Reeeeds sioeatsd b reasonalgr nZquired rssen! a repgc . 23 PWwma ON fa MfW4 r* bm . . . . . . . . . . . . 24 Nonretv+dr+t rwoeds of no asset (subtract ones 20.21.22. aid 23 fmm Am is _ column (Q) . 'IS Enter eke O" b" weighted average asatunty d me ewes to l e K 900 tM b d dde an whKh t a wfwtded bads wi be teed - , ► 27 Enter 1110 dot O the refunded earls wen mued ► . Eaton the sensunt Of my) of the state vdwne cap dbcaw %td's awe . • ~ a Check box i fie s+esn gmerrrrwW writ exception b the arbftp rye mm*enwm s0oes . b Ch.M* ba lithe b+nonth temporary ierestmem e:<eptron bthear0itraRe nebete moment tbaDOb - . ❑ s Check bos if you expeA to earn tae rebate arbitwg+e prdts folio v s. • ❑ 30 Fetter the amount of the bords desitnated by the suer waft section 261ej3j~~ , . . . . ► ❑ =1 70040 GnintwW a Check box it any d the procee0s of nrs issue we to be used ksrakg bans b dNw pwomm*nW unit ► O std eater the amount 0, b Chm* box it tha issue is a ban made from the proceeds of w w tax4w* i~+re ► C) and "dw the mne d the issuer w and nre doh d Me iw ► Wee a W@n of O"WI. I aet0•e nut I he" "S"Wr'eo na mrrw ar+o atteepa~ ee.e0uls Sea nor WWO. mus t are awe. eonect. roc t t std an ear of at beo+a0r and toner. N t' o40,here sjaa.. M ants. tkar , tie for tsperwwk Reduction Act Notice. see page 3 of the tnstratbn Ism s03a-G in so ~•~VOI~~ ` ` msivr~ai~NM-)i~WfAf~t-T~~c~Exinip~ " , r - v ~ti. t uwta 1lKt Governmental Bond Ues owe ~+n~ Yee. ewere~e tseMn ►11w•« fes~en I"w two y, t+rweM Msr~e lrra On /eve N314t R baw arse. r• .r....,- - . rwti dw" -0 .we w f Tom of--Avon 1 tiererlere~e' ar~Ir _ tl elrrreaorexta 400` Denchsart coo awswo.owspeeer Avon, Colorado 51-620 of fssue chttk )o a that' fhs 7 OWA Us d bonds we tai M ether reWnW anticNtron bonds ► ❑ it bonds we in the Ism d a km or wouletno woe ► ❑ ! ❑ Eeua . Be ❑ MeafU► ana hOJ~1f . . Tcaro+ort~ion . . . . . . . . . . . . • . . . . . . . . . . . . . . . . . U = tint woq . . _ 13 En*anrnent anc%W ftWwW bonds) . . . . . . . . . . . . . . . . • . . . . . . . . . is ❑ umios . . . . . . . . . . . . is ❑ Blew. D"CAe on ► . Dose of Both . In in • wiv err WWI= %.«Iarn. w 17 n"I.14"MY . t it Entire issue • Uses of tnst Proaeh of Issue fib1 Viderwrhers' alit - 3! - heeseds +rstd to accrueQ irteiest . : _ 20 Proceeds used for fond isswnct hosts (mciudrn~ wnderx' datount) : . - ZO ! i Proceeds used for coo enAwKea+ent . • = 21 I hoceeds &%Wed to ressoneey Mquatd reserve a re . . . . oyceewd ford . . . t! Proceeds used to refund over itum 24 Nondelwww «etds ofine awe 20. il.22. w+d 23 trom line 18. coffin ' fts . . . Oast lion of Refunded bonds tan to this Dut for refunding fonds . !S Elder the rleRiinint ~urq. d the OOr+ds to k Mundd K Enter the tat dab on which the Munded fords d be COW • ► fears ~7 Enta 1f+e datKsf ~e reWrdeO bonds awe issued ► to todw the amount (R wry) of the state vdw w coo dlocated to pis awe • ► as Amrsprobde: o Check box athe :mew Covet we" Wd exception % the wbdmtt rebw raouirMamt spoies . b Check fox i the 6aio a tea+9=q ww"U"M txcept*n to tAt or futile ret8tt reouisMM is acted to &P* . O s Check fox it You aped to tarn era note Wbft t profits to so U.S. 30 trA0 the-arnorr A d the (orbs deserted 0y Grw wW_ under section 2 6 5 (b X3XBno . w . 13 AI ►bobd fines CWW a Check box i MV Of 8+t protttOs d this issue ore to be used to NOW loans do dtw nsd unit; w ❑ and ~ the amount ► . b Check box it this issue is a loan anal from the proceeds of W40*r ba-atrnpt riot ► O and erge► a* nerve of the issuer ► - - ind the We of the slue t Man SIP Note for Papemork Reduction Act Notice. set pate I of the tnstrvctiees. ,x rem 8038•G lt:-alt 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 24TH DAY OF OCTOBER, 1989, AT THE TOWN HALL FOR THE PURPOSE OF CONSIDERING THE ADOPTION OF ORDINANCE NO. 89-14, SERIES OF 1989: AN ORDINANCE AUTHORIZING EXECUTION OF CERTAIN EQUIPMENT LEASE AGREEMENT 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 is given and published by order of the Town Council of the Town of Avon, Colorado. Dated this 10th day of October , 1989. BY OF ,,VON, COLO atricia d/. D( ~yVe, 'own Clerk POSTED AT THE FOLLOWING PUBLIC PLACES WITHIN THE TOWN OF AVON ON OCTOBER 11 , 1989: THE AVON POST OFFICE IN THE MAIN LOBBY THE CITY MARKET IN THE MAIN LOBBY THE COASTAL MART, INC.; and THE AVON MUNICIPAL BUILDING IN THE MAIN LOBBY