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:
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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
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