TC Res. No. 1996-31RESOLUTION NO. 96-31
Series of 1996
A RESOLUTION SUBMITTING TO THE ELIGIBLE ELECTORS
OF THE TOWN THE QUESTION OF CONTRACTING GENERAL
OBLIGATION BONDED INDEBTEDNESS OF THE TOWN,
INCLUDING THE LEVYING OF TAXES TO PAY SUCH DEBT.
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, Article X, Section 20 of the Constitution ("Amendment 1 requires
voter approval for any new tax, the creation of any debt and for spending certain moneys above
limits-established by Amendment l; and
WHEREAS, the interest of the Town and the public interest and necessity demand
and require, the acquisition, construction, erection, equipping, and installing of certain road and
intersection improvements, including design, engineering, legal, financing and administrative costs
relating thereto and any other costs incidental thereto (the "Project"); and
WHEREAS, Amendment 1 also requires the Town to "submit ballot questions (as
defined in Amendment 1) to the Town's electors on limited election days before action can be taken
on such ballot questions; and
WHEREAS, pursuant to the Town Charter, the Town's regular municipal election will
be held on November 5, 1996; and
WHEREAS, November 5, 1996, is one of the election dates at which ballot issues and
spending questions may be submitted to the Town's eligible electors pursuant to Amendment 1; and
WHEREAS, Eagle County (the "County") is conducting a coordinated election
pursuant'to Section 1-7-116, C.R.S. on November 5, 1996; and
WHEREAS, pursuant to Section 3.1 of the Town Charter, Sections 1-1-102 and 31-
10-102.7, C.R.S. and Ordinance 95-14, Series of 1995, the Council has elected to utilize the
provisions of the Uniform Election Code of 1992 in order to participate in the coordinated election
on November 5, 1996; and
WHEREAS, the Council has heretofore determined that it is necessary to submit to
the electors of the Town, at the regular municipal election of the Town to be held on November 5,
1996, the question of creating general obligation indebtedness for the purpose set forth in this
resolution, the proposition of increasing taxes to pay such debt, and the spending of certain moneys
above the limits established by Amendment 1; and
WHEREAS, it is necessary to set forth certain procedures concerning the conduct of
the election.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF AVON, IN THE COUNTY OF EAGLE, STATE OF COLORADO:
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, the Project 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 the Uniform Election Code of 1992, Title 1, Articles 1 through 13, C.R.S., as
amended.
Section 3. Pursuant to the Uniform Election Code of 1992, and all laws
amendatory thereof and supplemental thereto, the Council hereby determines that at the regular
municipal election to be held on November 5, 1996 (the "election"), there shall be submitted to the
eligible electors of the Town the question of contracting bonded indebtedness of the Town for the
purpose described herein, including the levying of taxes therefor. 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 on behalf of the Town. The
officers of the Town are authorized to enter into an intergovernmental agreement with the County
Clerk pursuant to Section 1-7-116, C.R.S. Any such intergovernmental agreement heretofore
entered into in connection with the election is hereby ratified, approved and confirmed.
Section 4. The Council hereby authorizes and directs the designated election
official to certify to the County Clerk, on or before September 10, 1996, the question in substantially
the form hereinafter set forth. Such question shall be submittedto the eligible electors of the Town
at the election in the substantially the following form:
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ROUNDABOUTS/TRAFFIC IMPROVEMENTS QUESTION
SHALL TOWN OF AVON DEBT BE INCREASED BY $3.5
MILLION, WITH A REPAYMENT COST OF $7.46 MILLION
AND SHALL, TOWN TAXES BE INCREASED UP TO $615
THOUSAND ANNUALLY TO PAY SUCH DEBT; FOR THE
PURPOSE OF ROUNDABOUTS AND TRAFFIC
IMPROVEMENTS, INCLUDING TRAFFIC SIGNALS AND
PEDESTRIAN WALKWAYS AND INCLUDING THE
ACQUIRING, CONSTRUCTING, ERECTING AND
INSTALLATION THEREOF; AND SHALL THE MILL LEVY BE
INCREASED IN ANY YEAR WITHOUT LIMITATION AS TO
RATE BUT ONLY IN AN AMOUNT SUFFICIENT TO PAY THE
PRINCIPAL OF AND PREMIUM, IF ANY, AND INTEREST ON
SUCH DEBT OR ANY REFUNDING DEBT WHEN DUE; SUCH
DEBT TO BE EVIDENCED BY THE ISSUANCE OF GENERAL
OBLIGATION BONDS BEARING INTEREST AT A MAXIMUM
NET EFFECTIVE INTEREST RATE NOT TO EXCEED 7.5%;
SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE, ON
TERMS AND CONDITIONS AS THE TOWN COUNCIL OF THE
TOWN MAY DETERMINE, INCLUDING PROVISIONS FOR
REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH
OR WITHOUT PAYMENT OF THE PREMIUM; AND SHALL
THE EARNINGS FROM THE INVESTMENT OF SUCH BOND
PROCEEDS AND TAX REVENUES BE COLLECTED AND
SPENT WITHOUT LIMITATION OR CONDITION, AS A
VOTER-APPROVED REVENUE CHANGE UNDER ARTICLE X,
SECTION 20 OF THE COLORADO CONSTITUTION OR ANY
OTHER LAW?
Section 5. Ms. Patty Lambert 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 and until two days after the election in a conspicuous place in
the office of the designated election official.
-3-
Section 8. '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 at, least 25 days prior to the election (no later than October 11, 1996) as required by
Section 1-7-904, C.R.S.
Section 9. 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 10. 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 11. All acts, orders and resolutions, and parts thereof, 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 September 3, 1996.
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Town Clerk
Mayor
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STATE OF COLORADO )
COUNTY OF EAGLE ) SS_
TOWN OF AVON )
I, the Town Clerk of the Town of Avon, Colorado (the "Town"), do hereby certify:
1 • The foregoing pages numbered -1- through 4-, inclusive, are a true and
correct copy of a resolution (the "Resolution") passed and adopted by the Town Council (the
"Council") of the Town at a special meeting of the Council held on September 3, 1996.
2. The Resolution was duly
adopted at the special meeting of September 3,
members of the Council as follows:
moved and seconded and the Resolution was
1996, by an affirmative vote of a majority of the
Those Voting Aye
Those Voting Nay:
Those Absent:
Those Abstaining:
Richard'Carnes
Jack Fawcett
Tom Hines
Celeste-C.- Notting am
Judy o er
Jim Benson
3. The members of the Council were present at such meetings and voted on the
passage of such Resolution as set forth above.
4. The Resolution was approved and authenticated by the signature of the Mayor,
sealed with the Town seal, attested by the Clerk and recorded in the minutes of the Council.
5. There are no bylaws, rules or regulations of the Council which might prohibit
the adoption of said Resolution.
6. Notice of the special meeting of September 3, 1996 in the form attached
hereto as Exhibit A was posted at the Town Hall, Avon, Colorado, not less than 24 hours prior to
the meeting in accordance with law.
r, ~~"'t~`e31~IfrrNar,R~rt~ WITNESS my hand and the seal of said
t'-4{$E,AI,),N c -
XOLO_...-5-
affixed this of SeptembeA th , 1996.
Clerk
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TOWN OF AVON
SPECIAL COUNCIL MELTING AGENDA
SEPTEMBER 3, 1996 - 5:30 PM
1. Call to Order f Roll Call
2. Citizen input
3. Ordinances
4. Resolutione
a.) Resolution No. 96-31, Series of 1996, A RESOLUTION
SUBMITTING TO THE ELIGIBLE ELECTORS OF THE TOWN THE
QUESTION OF CONTRACTING GENERAL OBLIGATION BONDED
INDEBTEDNESS OF THE TOWN, INCLUDING THE LEVYING OF
TAXES TO PAY SUCH DEBT (Larry Brooks)
5. unfinished Business.
6. New Busineaa
7. Town Attorney Report
S. -Mayor Report
9. Other Business
10. Convent Agenda
11. Ad j our=ent