HomeMy WebLinkAbout2025-26 A Resolution Expressing the Intention of the Town to be Reimbursed for Certain Expenses Relating to the Renovation of the Dobson Ice Arena
RESOLUTION NO. 26
Series of 2025
A RESOLUTION EXPRESSING THE INTENT OF THE TOWN TO BE REIMBURSED
FOR CERTAIN EXPENSES RELATING TO THE RENOVATION OF THE DOBSON ICE
ARENA
WHEREAS, the Town of Vail (the “Town”), is a duly organized and existing home
rule municipality of the State of Colorado, created and operating pursuant to Article XX,
Section 6 of the Constitution of the State of Colorado and the home rule charter of the
Town;
WHEREAS, the members of the Town Council of the Town (the “Council”) have
been duly appointed and qualified;
WHEREAS, it is the current intent of the Town to acquire and construct certain
capital improvements to the Dobson Ice Arena in order to renovate the Dobson Ice Arena;
(the “Renovation Project”);
WHEREAS, the Town has determined that it is in the best interest of the Town to
finance the Renovation Project through a tax-exempt financing which may include the
issuance of certificates of participation; or by any other means legally available to the
Town;
WHEREAS, the Town has determined that it is necessary to make capital
expenditures to acquire and construct the Renovation Project prior to the time that the
Town arranges for the specific financing of the Renovation Project;
WHEREAS, it is the Town’s reasonable expectation that when such financing
occurs, the capital expenditures will be reimbursed with the proceeds of the financing;
and
WHEREAS, in order to comply with the provisions of the Internal Revenue Code of
1986, as amended (the “Code”), it is the Town’s desire that this resolution shall constitute
the “official intent” of the Council to reimburse such capital expenditures within the
meaning of Treasury Regulation §1.150-2.
NOW THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN
OF VAIL, COLORADO THAT:
Section 1. All action (not inconsistent with the provisions of this resolution)
heretofore taken by the Town and the officers, employees and agents of the Town
directed toward the Renovation Project and the tax-exempt financing is hereby ratified,