Loading...
TC Res. No. 1981-13_1t RESOLUTION NO. Lj A RESOLUTION CONCERNING THE LOCAL IMPROVEMENT DISTRICT KNOWN AND IDENTIFIED AS "TOWN 'OF AVON, COLORADO, TOWN CENTER MALL IMPROVEMENT DISTRICT; DESIGNATED BY THE SHORT TITLE "MALL DISTRICT BOND SALE RESOLUTION;" AWARDING THE SALE OF THE TOWN OF AVON, COLORADO, TOWN CENTER MALL IMPROVEMENT DISTRICT, SPECIAL ASSESSMENT BONDS, SERIES OCTOBER 1, 1981, IN THE AGGREGATE PRINCIPAL AMOUNT OF .$910,000 * TO BOETTCHER & COMPANY OF DENVER, COLORADO. WHEREAS, by Ordinance No. 81-26, finally passed and adopted on August 25, 1981, the Town Council (the "Council") of the Town of Avon (the "Town"), created and established within the Town a local improvement district known and designated as the "Town of Avon, Colorado, Town Center Mall Improvement District" (the "District") for the purpose of making certain local mall and park improvements and to assess the cost thereof to the tracts and parcels of property bene- fited thereby, pursuant to the Local Improvements Code (the "Code") enacted by Ordinance No. 81-24 finally passed and adopted on July 28, 1981; .,and WHEREAS, the Council does hereby determine that it is nec- essary and for the best interests of the Town and the inhabitants thereof that it immediately proceed to issue and sell its negotiable, coupon, special assessment bonds designated as the "Town of Avon, Colorado, Town Center Mall Improvement District Special Assessment Bonds, Series October 1, 1981," (the "bonds") in the aggregate prin- cipal amount of $910,000 , for the purpose of paying, in part, the cost of making the mall and park improvements in the District; and WHEREAS, paragraph B of Section 18 of the Code authorizes the Town to sell its special assessment bonds at a private sale if determined by the governing body to be in the best- interests of the Town; and WHEREAS, the Council does hereby determine and declare that it is in the best interests of the Town to sell the bonds at a pri- vate sale at a net effective interest rate not exceeding percent and WHEREAS, the Town has received a proposal (hereto attached as Exhibit A) from Boettcher & Company of Denver, Colorado, to pur- chase the bonds for the principal amount of $910,000 and accrued interest to the delivery date at specified interest rates set forth therein, and at a discount of.S NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, COLORADO: -2- r`-.. K f~; f Section 1. This resolution shall be known as and may be cited by the short title "Mall District Bond Sale Resolution." Section 2. All action (not inconsistent with the 'provisions of this resolution) heretofore taken by the officers of the Town directed toward making the local mall and park improvements, the cre- ation of the District, and the issuance of its "Town of Avon, Colorado, Town Center Mall Improvement District, Special Assessment Bonds, Series October 1, 1981," (herein "bonds") in the aggregate principal amount of $910,000 and the private sale of the bonds to Boettcher & Company, of Denver, Colorado, be, and the same hereby is, ratified, approved and confirmed. Section 3. The Town hereby accepts the offer of Boettcher & Company of Denver, Colorado, to purchase the bonds at a discount of S and at a net effective interest rate of percent ( per annum. Section 4. The officers of the Town be, and they hereby are, authorized and directed to take all action necessary or appro- priate to effectuate the provisions of this resolution. Section 5. All resolutions or parts thereof in conflict with this resolution are hereby repealed. This repealer shall not be construed to revive any order, bylaw, or resolution, or part thereof, heretofore repealed. Section 6. If any section, paragraph, clause, or other pro- vision of this resolution is for any reason-held to be invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause, or other provision shall not affect the validity of the remaining provisions of this resolution. Section 7. This resolution, immediately on its final pas- sage and adoption, shall be recorded in the book of resolutions kept for that purpose and authenticated by the signatures of the Mayor and Clerk. INTRODUCED, READ BY TITLE, PASSED, AND ADOPTED ON THIS August 25, 1981. (SEAL) Attest J C; V Town erk Town of Avo , Color do Mayor Town of Avon, Colo ado -3- Welcome to CAMCA!! Colorado Association for Municipal Court Administration