TC Res. No. 2014-15 APPROVING THE ADD -ON PIF COLLECTION SERVICES AGREEMENTTOWN OF AVON
RESOLUTION NO. 14 -15
Series of 2014
A RESOLUTION APPROVING THE ADD -ON PIF
COLLECTION SERVICES AGREEMENT
WHEREAS, on October 7, 2011 the Town of Avon and other parties entered into the Settlement
Term Sheet ( "Settlement Term Sheet ") in an effort to resolve pending litigation No. 2008 CV
385 and 2010 CV 316, Eagle County District Court;
WHEREAS, as partial implementation of the Settlement Term Sheet, the Avon Town Council
approved the Consolidated, Amended and Restated Annexation and Development Agreement
( "CARADA ") by Ordinance No. 12 -10 which set forth obligations in section 6.5 of the
CARADA for the PICs to collect, or cause the Add -On RSF Collection Agent to collect the
Add -On RSF Revenues for the purpose of remitting such revenues to Asphalt Overlay Account
and to the Town as Municipal Payments (as the terms "PIC," "Add -On RSF Collection Agent,"
"Add -On RSF Revenues," "Asphalt Overlay Account," and "Municipal Payments" are defined
in the CARADA);
WHEREAS, the Avon Town Council previously approved an Add -On Retail Service Fee
Collection Services Agreement ( "Collection Services Agreement ") by Resolution No. 13 -13;
however, certain revisions made by Village (at Avon) Commercial Public Improvement
Company and the Village (at Avon) Commercial Public Improvement Company which were not
substantive to the Town's rights to the Add -On Retail Service Fee under the CARADA were
desired to conform the definitions in the Collection Services Agreement to various bond
documents and to allow for the potential to impose an Add -On PIF in excess of the Add -On RSF
and /or an Add -On PIF applicable to accommodations and real estate transfers, thereby requiring
the Town to re- approve the Collection Services Agreement as amended; and,
WHEREAS, the Avon Town Council approved the Receipt and Escrow Agreement Pertaining
to The Village (at Avon) Settlement Implementation by Ordinance No. 12 -10 which set forth
various terms concerning the execution and deposit of documents and agreements into escrow
and the effectiveness or voiding of such documents and agreements.
NOW, THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF AVON, that the Add -On PIF Collection Services Agreement, attached hereto as Exhibit A,
is hereby approved by the Town of Avon subject to the terms and conditions of the Receipt and
Escrow Agreement Pertaining to The Village (at Avon) Settlement Implementation.
ADOPTED JULY 15, 2014
TOWN COUNCIL
By:
Rich Carroll, Mayo
ATTEST:
By:
Debbie Hoppe, Town Clerk
Res. 14 -15 Approving the Add -On PIF Services Collection Agreement
July 10, 2014