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TC Res. No. 1993-32RESOLUTION NO. 93-32 Series of 1993 WHEREAS, the Town of Avon, in'the County of Eagle and State of Colorado (the "Town'), is a municipal corporation duly organized and existing as a home-rule municipality under Article XX of the State Constitution (the "Constitution") and laws of the State of Colorado; and WHEREAS, the members of the Town Council of the Town (the "Council") have been duly elected and qualified; and WHEREAS, the Council is of the opinion that the Town should issue bonds for the purposes stated in this resolution; and WHEREAS, Article X, Section 20 ("Amendment-1") of the Constitution Units - Town spending and the ability of the Town to issue bonds; and WHEREAS, Amendment 1 permits the eligible, electors of the Town to approve increases in spending and the issuance of 'bonds; and WHEREAS, November 2, 1993, is one of the election dates at which bond and spending questions may be submitted to the eligible electors of the Town pursuant to Amendment 1; and WHEREAS, Eagle County (the "County") is conducting on November 2, 1993, a coordinated election pursuant to Section 1-7-116, C.R.S.;, and WHEREAS, pursuant to Section 3.1 of the Town Charter, and Sections 1-1- 102 and 31-10-102.7, C.R.S. and Ordinance 93-5, Series of 1993, the Council has elected to conduct an election on November 2, 1993, pursuant to the Uniform Election Code of 1992; and WHEREAS, pursuant to Section 3.2 of the Town Charter, the Council may call a special election by resolution adopted at least 60 days in ordinance thereof. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF AVON, IN THE COUNTY OF EAGLE, STATE OF COLORADO: -1- Section 1. All action heretofore taken (not inconsistent with the provisions of this resolution) by the Town and the officers thereof; directed towards the election and the objects and purposes herein stated is hereby ratified, approved and confirmed. Section 2. Unless otherwise 'defined herein, all terms used herein shall have the meanings defined in Section 1-1-104, C.R.S. Section 3. Pursuant to. the Uniform Election Code of 1992, and all laws amendatory thereof and supplemental thereto, at a special election to be held on November 2, 1993 (the "election"), there shall be submitted to the eligible electors of the Town the questions of issuing bonds of the Town and of increasing Town spending above' the limits of Amendment 1. Because the election will be a coordinated election, the Council hereby determines to contract with the County Clerk and Recorder of Eagle County, Colorado (the "County Clerk") to conduct the election. The Town Manager or his designee is authorized" to enter into an intergovernmental agreement with the County Clerk pursuant to Section 1-7-116, C.R.S. Section 4. The questions to be submitted to the eligible electors of the Town shall be in substantially the following forms: A. SHALL THE TOWN OF AVON DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $3,900,000, WITH A REPAYMENT COST NOT TO EXCEED $8,410,800 FOR THE PURPOSE OF ACQUIlUNG, CONSTRUCTING AND EQUIPPING AN AQUATIC/RECREATION CENTER AND ALL NECESSARY AND APPURTENANT FACILITIES; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS OR BONDS ISSUED TO REFUND SUCH BONDS PAYABLE FROM SUCH TOWN TAXES OR OTHER REVENUES AS THE TOWN COUNCIL MAY DETERMINE, WITHOUT ANY INCREASE IN THE CURRENT RATE OF ANY SUCH TAXES; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MAXIMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT COSTS, ON TERMS AND CONDITIONS AS THE TOWN COUNCIL MAY -2- DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND SHALL THE PROCEEDS OF SUCH BONDS AND THE REVENUES FROM SUCH TAXES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE COLLECTED AND SPENT WITHOUT LIMITATION OR CONDITION, AND WITHOUT L WANG THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS BY THE TOWN UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? B. SHALL THE TOWN OF AVON DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $1,700,000, WITH A REPAYMENT COST NOT TO EXCEED $3,966,650 FOR THE PURPOSE OF ACQUIRING LAND FOR A PUBLIC WORKS GARAGE AND MAINTENANCE FACILITY; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS ' OR BONDS ISSUED TO REFUND SUCH BONDS PAYABLE FROM SUCH TOWN TAXES OR OTHER REVENUES AS THE TOWN COUNCIL MAY DETERMINE, WITHOUT ANY INCREASE IN THE CURRENT RATE OF ANY SUCH TAXES; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MA)CMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT COSTS, ON TERMS AND CONDITIONS AS THE TOWN COUNCIL MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND SHALL THE PROCEEDS OF SUCH BONDS AND THE REVENUES FROM SUCH TAXES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE COLLECTED AND SPENT WITHOUT LlMrrATION OR CONDITION, AND WITHOUT LIMITING THE COLLECTION OR -3- SPENDING OF ANY OTHER REVENUES OR FUNDS BY THE TOWN UNDER ARTICLE X, SECTION 20 OF THE' COLORADO CONSTITUTION OR ANY OTHER LAW? C. SHALL THE TOWN OF AVON BE AUTHORIZED WITHOUT ANY INCREASE IN THE CURRENT RATE OF TOWN TAXES TO RECEIVE AND EXPEND $450,000 ANNUALLY BEGINNING IN 1994 FOR THE PURPOSE OF PAYING THE COSTS OF OPERATING, MAINTAINING, IMPROVING AND EXPANDING AN AQUATIC/RECREATION CENTER AND ALL NECESSARY AND APPURTENANT FACII.ITIES, SUCH AMOUNT TO BE ABOVE THE AMOUNT THE TOWN IS AUTHORIZED TO RECEIVE AND EXPEND PURSUANT TO ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION? Section 5. Ms. Patty Neyhart is hereby appointed as the designated election official of the';Town for purposes of performing acts required or permitted by law in connection with the election. Section 6. Pursuant to Section 1-5-205, C.R.S., not less than ten days prior to the election, the designated election official of the Town is hereby instructed to give notice of the election, by causing a printed notice of the election to be published at least one time in the Vail Valley Times, a legal newspaper of general circulation in the Town. Such notice shall also be posted at least ten days prior to the election in a conspicuous place in the office of the designated election official. Such notice shall be substantially in the following form: -4- (Form of Notice) PUBLIC NOTICE OF SPECIAL ELECTION TOWN OF AVON EAGLE COUNTY, COLORADO TO BE HELD TUESDAY, NOVEMBER 2, 1993 PUBLIC NOTICE IS HEREBY GIVEN that pursuant to law and requisite action of the Town Council of the Town of Avon (the "Town"), in the County of Eagle and State of Colorado, a. special election will be held in the Town on Tuesday, November 2, 1993. The election will be conducted as part of the consolidated mail ballot election to be conducted by the County Clerk and Recorder of Eagle County. At the election there shall be submitted to the eligible electors of the Town the following questions: A. SHALL THE TOWN OF AVON DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $3,900,000, WITH A REPAYMENT COST NOT TO EXCEED $8,410,800 FOR THE PURPOSE OF ACQUIRING, CONSTRUCTING AND EQUIPPING AN AQUATIC/RECREATION CENTER AND ALL NECESSARY AND APPURTENANT FACILITIES; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS OR BONDS ISSUED TO REFUND SUCH BONDS PAYABLE FROM SUCH TOWN TAXES OR OTHER REVENUES AS THE TOWN COUNCIL MAY DETERMINE, WITHOUT ANY INCREASE IN THE CURRENT RATE OF ANY SUCH TAXES; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MAXIMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT COSTS, ON TERMS AND CONDITIONS AS THE TOWN COUNCIL MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND SHALL THE PROCEEDS OF SUCH BONDS AND THE REVENUES FROM SUCH TAXIES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE COLLECTED AND SPENT WITHOUT -5- L 41TATION OR CONDITION, AND WITHOUT L ffrlNG THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS 'BY THE TOWN UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? B. SHALL THE TOWN OF AVON DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $1,700,000, WITH A REPAYMENT COST NOT TO EXCEED $3,966,650 FOR, THE PURPOSE OF ACQUIRING LAND FOR A PUBLIC WORKS GARAGE AND MAINTENANCE FACILITY; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS OR BONDS ISSUED TO REFUND SUCH BONDS PAYABLE FROM SUCH TOWN TAXES OR OTHER REVENUES AS THE TOWN COUNCIL MAY DETERMINE, WITHOUT ANY INCREASE IN THE CURRENT RATE OF ANY SUCH TAXES; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MAXIMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT COSTS, ON TERMS AND CONDITIONS AS THE TOWN COUNCIL MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND SHALL THE PROCEEDS OF SUCH BONDS AND THE REVENUES FROM SUCH TAXES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE COLLECTED AND SPENT WITHOUT LIMITATION OR CONDITION, AND WITHOUT LUvffrING THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS BY THE TOWN UNDER ARTICLE X, SECTION 20 ' OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? C. SHALL THE TOWN OF AVON BE AUTHORIZED WITHOUT ANY INCREASE IN THE CURRENT RATE OF TOWN TAXES TO RECEIVE AND EXPEND $450,000 ANNUALLY BEGINNING IN 1994 FOR THE PURPOSE OF PAYING THE COSTS OF OPERATING, MAINTAINING, IMPROVING AND -6- EXPANDING AN AQUATIGRECREATION CENTER AND ALL ' NECESSARY AND APPURTENANT FACILITIES, SUCH AMOUNT TO BE ABOVE THE AMOUNT THE TOWN IS AUTHORIZED TO RECEIVE AND EXPEND PURSUANT TO ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION? IN WITNESS WHEREOF, the Town Council of the Town of Avon, in the County of Eagle and State of Colorado, has caused this notice to be given as required by law this 1993. (End of Form of Notice of Election) -7- Section 7. The designated election official shall cause the notice required by Section 20(3)(b) of Article X of the Colorado Constitution to be prepared and transmitted to the County Clerk. Such notice shall be in substantially the following form: -8- (Form of Additional Election Notice) To: All Registered Voters NOTICE OF ELECTION TO INCREASE DEBT AND ON A REFERRED MEASURE Election Date: Tuesday, November 2, 1993 Election Hours: 7:00 a.m. to 7:00 p.m. A. SHALL THE TOWN OF AVON DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $3,900,000, WITH A REPAYMENT. COST NOT TO EXCEED $8,410,800 FOR THE. PURPOSE OF ACQUIRING, CONSTRUCTING AND EQUIPPING AN AQUATIGRECREATION CENTER- AND ALL NECESSARY AND APPURTENANT FACILITIES; SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS OR BONDS ISSUED TO REFUND SUCH BONDS PAYABLE FROM SUCH TOWN TAXES OR OTHER REVENUES AS THE TOWN COUNCIL MAY DETERMINE, WITHOUT ANY INCREASE IN THE CURRENT RATE OF ANY SUCH TAXES; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MAXIMUM AUTHORIZED.PRINCIPAL AMOUNT AND REPAYMENT COSTS, ON TERMS AND CONDITIONS AS THE TOWN COUNCIL MAY DETERMINE, INCLUDING PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND SHALL THE PROCEEDS OF SUCH BONDS AND THE REVENUES FROM SUCH TAXES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH -9- PROCEEDS AND REVENUES BE COLLECTED . AND SPENT WITHOUT LIMITATION OR CONDITION, AND WITHOUT LIMITING THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS BY THE TOWN UNDER_ ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? B. SHALL THE TOWN OF AVON DEBT BE INCREASED BY AN AMOUNT NOT TO EXCEED $1,700,000, WITH A REPAYMENT COST NOT TO EXCEED $3,966,650 FOR THE PURPOSE OF ACQUIRING LAND FOR A PUBLIC WORKS GARAGE AND MAINTENANCE FACILITY, SUCH DEBT TO BE EVIDENCED BY THE ISSUANCE OF BONDS OR BONDS ISSUED TO REFUND SUCH BONDS PAYABLE FROM SUCH TOWN TAXES OR OTHER REVENUES AS THE TOWN COUNCIL MAY DETERMINE, WITHOUT ANY INCREASE IN THE CURRENT RATE OF ANY SUCH TAXES; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE IN AN AGGREGATE AMOUNT NOT TO EXCEED THE MAXIMUM AUTHORIZED PRINCIPAL AMOUNT AND REPAYMENT COSTS; ON TERMS AND CONDITIONS AS THE TOWN COUNCIL MAY DETERMINE, INCLUDING , PROVISIONS FOR THE REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF A PREMIUM; AND. SHALL THE PROCEEDS OF SUCH BONDS AND THE REVENUES FROM SUCH TAXES AND ANY EARNINGS FROM THE INVESTMENT OF SUCH PROCEEDS AND REVENUES BE COLLECTED AND SPENT WITHOUT LIMITATION OR CONDITION, AND WITHOUT LIlVIITING THE COLLECTION OR SPENDING OF ANY OTHER REVENUES OR FUNDS BY THE TOWN UNDER, ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW? C. SHALL THE TOWN OF AVON BE AUTHORIZED WITHOUT ANY INCREASE IN THE CURRENT RATE OF TOWN TAXES TO RECEIVE AND EXPEND $450,000 ANNUALLY BEGINNING IN 1994 FOR THE PURPOSE OF -10- PAYING THE COSTS OF OPERATING, MAINTAINING, IMPROVING AND EXPANDING AN AQUATIC/RECREATION CENTER AND ALL NECESSARY AND APPURTENANT FACII.ITIES, SUCH AMOUNT TO BE ABOVE THE AMOUNT THE TOWN IS AUTHORIZED TO RECEIVE AND EXPEND PURSUANT TO ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION? Local Election Office Address and Telephone Number: Office of the Eagle County Clerk and Recorder 500.Broadway Eagle, Colorado, 81631 (303) 328-8710 Total Town- fiscal year spending: Year 1993 (estimated) $ 9,459,512 1992 (actual) $12,843,796 1991 (actual) $11,477,787 1990 (actual) $ 5,246,198 1989 (actual) $ 3,714,164 Overall percentage change 154.6875% Overall dollar change $5,745,348 -11- Proposed Bonded Debt: For Aquatic Center. Principal Amount: Not to exceed $3,900,000 Maximum Annual Repayment Cost: Not to exceed $507;600 Total Repayment Cost: Not to exceed $8,410,800 For Public Works Facility: Principal Amount Not to exceed $1,700,000 Maximum Annual Repayment Cost: Not to exceed $239,800 Total Repayment Cost: Not to exceed $3,966,650 Current Town Debt: Principal Amount Outstanding. $ 6,070,847 Maximum Annual Repayment. Cost: $11,363,811 Remaining Total Repayment Cost $ 710,368 Information required by Article X, Section 20, 3(b)(v) of the Colorado Constitution, "Two summaries, up to 500 words each, one for and one against the proposal, of written comments filed with the election officer by 30, days before the election," follows. The Town of Avon solicited citizen comments by advertising in the Vail Valley Times for two consecutive, weeks. [Insert summaries] (End of Form of Additional Election Notice) -12- Section 8. The officers and employees of the Town are hereby authorized and directed to take all action necessary or appropriate to effectuate the provisions of this resolution. Section 9. If any section, paragraph, clause or provision of this resolution shall for any reason be held invalid or unenforceable, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this resolution. Section 10. All acts, orders and resolutions, and parts thereon inconsistent with - this resolution be, and the same hereby are, repealed to the extent only -of such inconsistency. This repealer shall not be construed to revive any act, order or resolution, or part thereof, heretofore repealed. PASSED AND ADOPTED this August 24 .1993. - M or (SEAT.) -13-