HomeMy WebLinkAbout1988-11-15 Support Documentation Town Council Regular SessionVAIL TOWN COUNCIL
REGULAR MEETING
TUESDAY, NOVEMBER 15, 1988
7:30 p.m.
AGENDA
1. Ten Year Anniversary Award to Charles Overend
2. Ordinance No. 31, Series of 1988, second reading, an annual appropriation
ordinance: adopting a budget and financial plan and making appropriations
to pay the costs, expenses, and liabilities of the Town of Vail, Colorado,
for its fiscal year January 1, 1989 through December 31, 1989, and
providing for the levy assessment and collection of Town ad valorem
property taxes due for the 1988 tax year and payable in the 1989 fiscal
year.
3. Consent Agenda
A. Ordinance No. 32, Series of 1988, second reading, an ordinance
amending Chapter 18.04, Section 18.29.010, and Section 18.29.030 of
the Municipal Code of the Town of Vail to allow micro-breweries as a
conditional use in the arterial business zone district.
B. Ordinance No. 33, Series of 1988, second reading, an ordinance
amending Section 3.40.150(5); 3.40.130(1); 3.40.130(2); 3.40.170(2);
3.40.120; 3.40.120(6) of the Sales Tax Chapter of the Town of Vail
Municipal Code; and setting forth details in regard thereto.
C. Ordinance No. 34, Series of 1988, second reading, an ordinance
adopting the amended investment policy for the Town of Vail.
D. Resolution No. 42, Series of 1988, a resolution in support of U.S.
West's proposal for local telephone calling areas in rural Colorado.
E. Resolution No. 43, Series of 1988, a resolution to endorse the Mission
Statement of the Eagle County Television Translator Committee.
CITIZEN PARTICIPATION
4. Executive Session - Personnel Matters
5. Adjournment
VAIL TOWN COUNCIL
REGULAR MEETING
TUESDAY, NOVEMBER 15, 1988
7:30 p.m.
EXPANDED AGENDA
7:30 1. Ten Year Anniversary Award to Charles Overend
7:35 2. Ordinance No. 31, Series of 1988, second reading, regarding
Steve Barwick setting the 1989 Town of Vail budget
Action Requested of Council: Approve/deny Ordinance No. 31,
Series of 1988, on second reading.
Background Ratio-Hale: Ordinance No. 31 adopts the 1989
budget and financial plan and makes appropriations to pay
the costs, expenses, and liabilities of the Town of Vail for
its fiscal year January 1, 1989 through December 31, 1989.
The ordinance also provides for the levy assessment and
collection of Town ad valorem property taxes due for the
1988 tax year and payable in the 1989 fiscal year.
Staff Recommendation: Approve Ordinance No. 31, Series of
1988, on second reading.
7:55 3. Consent Agenda
Kristan Pritz A. Ordinance No. 32, Series of 1988, second reading,
amending the Arterial Business Zone District to allow
micro-breweries as a conditional use (Applicant: Vail
Ventures, Ltd. and Glen Lyon Office Building, Inc., a
Colorado partnership)
Action Requested of Council: Approve/deny Ordinance
No. 32, Series of 1988, on second reading.
Background Rationale: On October 24, 1988 the PEC
voted to recommend approval of the request. A
micro-brewery is a mixed use commercial operation that
produces beer and ale. The maximum brewing capacity is
7,500 barrels per year. Floor area for the brewery is
limited to 8,000 square feet. The use must also
include an on-site public restaurant and/or bar having
a minimum seating area of 2,000 square feet. The
Environmental Impact Report submitted by the applicant
finds that there are no signif icant adverse
environmental impacts due to the use.
Staff Recommendation: Approve Ordinance No. 32, Series
of 1988, on second reading.
Dani Hild B. Ordinance No. 33, Series of 1988, second reading,
amending sales tax ordinance to reflect sales tax
policies
Action Requested of Council: Approve/deny Ordinance
No. 33, Series of 1988, on second reading.
Background Rationale: On October 4, 1988, the Council
decided to accept sales tax returns postmarked on the
20th as timely filing.
Staff Recommendation: Approve Ordinance No. 33, Series
of 1988, on second reading.
Steve Thompson
C. Ordinance No. 34, Series of 1988, second reading,
regarding proposed Investment Policy
Action Requested of Council: Approve/deny Ordinance
No. 34, Series of 1988, on second reading.
S
Background Rationale: On September 13, 1988 Finance
presented to the Council recommended changes to the
present investment policy. Enclosed in your packet is
the final draft of the policy.
Staff Recommendation: Approve Ordinance No. 34, Series
of 1988, on second reading.
Charlie Wick
D. Resolution No. 42, Series of 1988, supporting local
telephone calling areas
Action Requested of Council: Approve/deny Resolution
No. 42, Series of 1988.
Background Rationale: The PUC is seeking input
concerning U.S. West's proposed local telephone calling
areas for rural Colorado.
Staff Recommendation: Approve Resolution No. 42,
Series of 1988.
Mike Cacioppo
E. Resolution No. 43, Series of 1988, approving a TU
Translator Mission Statement
Action Requested of Council: Approve/deny Resolution
No. 43, Series of 1988.
Background Rationale: The Eagle County Television
Translator Committee has developed a Mission Statement,
and Mike Cacioppo feels it deserves to be endorsed by
the Council by resolution.
Staff Recommendation: Approve Resolution No. 43,
Series of 1988.
8:10
CITIZEN PARTICIPATION
4. Executive Session - Personnel Matters
Background Rationale: Discussion of evaluations of Council
employees - Town Manager, Town Attorney, and Municipal Judge
9:45
5. Adjournment
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ORDINANCE N0. 31
Series of 1988
ANNUAL APPROPRIATION ORDINANCE: ADOPTING A BUDGET
AND FINANCIAL PLAN AND MAKING APPROPRIATIONS TO PAY
THE COSTS, EXPENSES, AND LIABILITIES OF THE TOWN OF
VAIL, COLORADO, FOR ITS FISCAL YEAR JANUARY 1, 1989
THROUGH DECEMBER 31, 1989, AND PROVIDING FOR THE LEVY
ASSESSMENT AND COLLECTION OF TOWN AD VALOREM PROPERTY
TAXES DUE FOR THE 1988 TAX YEAR AND PAYABLE IN THE
1989 FISCAL YEAR.
WHEREAS, in accordance with Article IX of the Charter of the Town of Vail,
Colorado, the Town Manager prepared and submitted to the Town Council a proposed
long-range capital program for the Town and a proposed budget and financial plan
for all Town funds and activities for the 1989 fiscal year; and
WHEREAS, notice of public hearing on the proposed Town budget and capital
program was published on the 7th day of October, 1988, more than seven days prior
to the hearing held on the 18th day of October, 1988 pursuant to Section 9.5 of the
Charter; and
WHEREAS, it is necessary for the Town Council to adopt a budget and financial
plan for the 1989 fiscal year, to make appropriations for the amounts specified in
the budget, and to provide for the levy, assessment and collection of Town ad
valorem property taxes due for the 1988 year and payable in the 1989 fiscal year.
NOW, THEREFORE, be it ordained by the Town Council of the Town of Vail,
Colorado, that:
1. The procedures prescribed in Article IX of the Charter of the Town of
Vail, Colorado, for the enactment hereof have been fulfilled.
2. Pursuant to Article IX of the Charter, the Town Council hereby makes the
following annual appropriations for the Town of Vail, Colorado, for its fiscal year
beginning on the first day of January, 1989, and ending on the 31st day. of
December, 1989:
FUND AMOUNT
General Fund $11,247,998
Capital Projects Fund 5,017,695
Conservation Trust Fund 9,000
Real Estate Transfer Tax 1,439,019
Heavy Equipment Fund 1,216,340
Computer Project Fund 240,000
Debt Service Fund 3,606,847
Special Parking Assessment Fund 250,000
Health Insurance Fund 582,000
Lionshead Mall Assessment District 92,500
West Vail Assessment District 13,000
Total: $23,714,399
Less Interfund Transfers: < 5,545,847>
Total Budget $18,168,552
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3. The Town Council hereby adopts the full and complete Budget and Financial
Plan for the 1989 fiscal year for the Town of Vail, Colorado, which are
incorporated by reference herein and made part hereof, and copies of said public
records shall be made available to the public in the Municipal Building of the
Town.
4. For the purpose of defraying part of the operating and capital expenses of
the Town of Vail, Colorado during its 1988 fiscal year, the Town Council hereby
levies a property tax of 5.941 mills upon each dollar of the total assessed
valuation of $294,956,850 for the 1988 tax year of all taxable property within the
Town, which will result in a gross tax levy of $1,752,339 said assessment shall be
duly made by the County of Eagle, State of Colorado, and directs Revised Statutes
(1973 as amended) and as otherwise required by law.
5. This Ordinance shall take effect five days after publication following the
final passage hereof.
INTRODUCED, READ ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONCE IN FULL
THIS 18th day of October 1988, and a public hearing on this Ordinance shall
be held at a regular meeting for the Town Council of the Town of Vail, Colorado, on
the 18th day of October 1988 at 7:30 p.m. in the Council Chambers of the
Vail Municipal Building, Vail, Colorado.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
INTRODUCED, READ ON SECOND READING, APPROVED AND ORDERED PUBLISHED
this day of
1987.
ATTEST:
Pamela A. Brandmeyer, Town Clerk
Kent R. Rose, Mayor
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ORDINANCE NO. 32
Series of 1988
AN ORDINANCE AMENDING CHAPTER 18.04,
SECTION 18.29.010, AND SECTION 18.29.030
OF THE MUNICIPAL CODE OF THE TOWN OF VAIL
TO ALLOW MICRO-BREWERIES AS A CONDITIONAL USE
IN THE ARTERIAL BUSINESS ZONE DISTRICT.
WHEREAS, Vail Ventures, Ltd. and Glen Lyon Office Building,
Incorporated, a Colorado Partnership have submitted an application to
amend Chapter 18.04, Definitions, and Section 18.29.010 and Section
18.29.030 of the Arterial Business Zone District in the Municipal
Code of the Town of Vail; and
WHEREAS, the amendment provides for a micro-brewery to be
considered as a conditional use; and
WHEREAS, the micro-brewery use does not have any significant
environmental impacts; and
WHEREAS, the micro-brewery use is considered to be a compatible
limited light industrial use that provides significant on-site
tourist amenities such as a restaurant/bar, museum, retail shop, and
brewery tours; and
WHEREAS, the micro-brewery use is compatible with business and
office uses presently allowed in the Arterial Business Zone District;
and
WHEREAS, the Planning and Environmental Commission has
recommended approval of this amendment to the Town Council; and
WHEREAS, such amendment must be approved by the Town Council of
the Town of Vail; and
WHEREAS, the Vail Town Council considers that it is reasonable,
appropriate, and beneficial to the Town and its citizens,
inhabitants, and visitors to amend Sections 18.04, 18.29.010, and
18.29.030 of the Town of Vail Municipal Code.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF
VAIL, COLORADO, AS FOLLOWS:
Section 1. Chapter 18.04 is hereby amended by the addition of
Section 18.04.253 to read as follows:
18.04.253 MICRO-BREWERY
A MIXED USED COMMERCIAL OPERATION THAT PROCESSES WATER,
MALT, HOPS, AND YEAST INTO BEER OR ALE BY MASHING, COOKING,
AND FERMENTING THAT SHALL ALSO INCLUDE AN ON-SITE PUBLIC
RESTAURANT AND/OR BAR WHICH SELLS THE BEER AND ALE PRODUCED
ON SITE. THE MAXIMUM BREWING CAPACITY FOR THE MICRO-
BREWERY SHALL BE 7,500 BARRELS PER YEAR. A BARREL IS
EQUIVALENT TO 31 GALLONS. THE MICRO-BREWERY USE SHALL NOT
EXCEED 8,000 SQUARE FEET OF FLOOR AREA, EXCLUDING ENCLOSED
AREAS FOR LOADING, TRASH, AND DELIVERY. THE PUBLIC
RESTAURANT AND/OR BAR SHALL HAVE A MINIMUM SEATING AREA OF
2,000 SQUARE FEET AND SHALL BE EXCLUDED.FROM THE TOTAL
MICRO-BREWERY MAXIMUM SQUARE FOOTAGE LIMIT.
Section 2. Section 18.29.010, Purpose of the Arterial Business
District is hereby amended to read as follows:
The Arterial Business District is intended to provide sites
for office space, public utilities, service stations,
LIMITED LIGHT INDUSTRY HAVING NO ADVERSE ENVIRONMENTAL
IMPACTS THAT PROVIDES SIGNIFICANT ON-SITE TOURIST AMENITIES
and limited shopping and commercial facilities serving the
Town and Upper Eagle Valley residents and guests. Multiple
family dwellings for use as employee housing will be
appropriate under specific circumstances. Arterial
Business District is intended to ensure adequate light,
air, open space, and other amenities. appropriate to
permitted and conditional types of buildings and uses, and
to maintain a convenient (limited) shopping, business,
service, and residential environment.
Section 3. Section 18.29.030, Conditional Uses A is hereby amended
to read as follows:
A. The following conditional uses shall be permitted in
the Arterial Business District, subject to the
issuance of a conditional use permit in accordance
with the provisions of Chapter 18.60:
Public buildings, grounds and facilities
Public parks and recreation facilities
Any use permitted by Section 18.29.020 which is not
conducted entirely within a building
Service yards
Public utility and public service uses, including
screened outside storage
Multi-family dwellings for the employees of the Upper
Eagle Valley as further restricted by Section
18.27.130 of this zone district.
MICRO-BREWERY
Section 4.
If any part, section, subsection, sentence, clause or phrase of this
ordinance is for any reason held to be invalid,. such decision shall
not affect the validity of the remaining portions of this ordinance;
and the Town Council hereby declares it would have passed this.
ordinance, and each part, section, subsection, sentence,
clause or phrase thereof, regardless of the fact that any one or more
parts, sections, subsections, sentences, clauses or phrases be
declared invalid.
Section 5.
The Town Council hereby finds, determines and declares that this
ordinance is necessary and proper for the health, safety and welfare
of the Town of Vail and the inhabitants thereof.
Section 6.
The repeal or the repeal and reenactment of any provisions of the
Vail Municipal Code as provided in this ordinance shall not affect
any right which has accrued, any duty imposed, any violation that
occurred prior to the effective date hereof, any prosecution
commenced, nor any other action or proceeding as commenced under or
by virtue of the provision repealed or repealed and reenacted. The
repeal of any provision hereby shall not revive any provision or any
ordinance previously repealed or superseded unless expressly stated
herein.
INTRODUCED, READ AND PASSED ON FIRST READING THIS 1st day of
November , 1988, and a public hearing shall be held on this
ordinance on the 1st day of November 1988 at 7:30 p,m. in the
Council Chambers of the Vail Municipal Building, Vail, Colorado.
Ordered published in full this 1st day of November lggg,
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
INTRODUCED, READ AI1D APPROVED ON SECOND READING AND ORDERED PUBLISHED
1988.
this day of
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
ORDINANCE N0. 33
Series of 1988
AN ORDINANCE AMENDING SECTION 3.40.150(5); 3.40.130(1);
3.40.130(2); 3.40.170(2); 3.40.120; 3.40.120(6) OF THE
SALES TAX CHAPTER OF THE TOWN OF VAIL MUNICIPAL CODE; --
AND SETTING FORTH DETAILS IN REGARD THERETO.
WHEREAS, the Town Council believes that it will benefit the health, safety, and
welfare of the inhabitants of the Town of Vail to make certain amendments to the
sales tax ordinance as hereinafter set forth.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO:
1. Section 3.40.120(5)(b) is hereby amended to read as follows:
3.40.120(5)(b)
Upon the amount paid for food or drink served or furnished in or by
restaurants, cafes, lunch counters, cafeterias, hotels, drugstores, social clubs,
_night clubs, cabarets, resorts, snack bars, caterers, carry out shops, and other
like places of business at which prepared food or drink is regularly sold, including
sales from pushcarts, motor vehicles, and other mobile facilities. Covered charges
shall be included as part of the amount paid for such food or drink. THE AMOUNT
PAID FOR SALES OF MEALS BY ANY OF THE EMPLOYEES OF THE ABOVE LISTED ESTABLISHMENTS,
WHETHER AT FULL PRICE OR AT REDUCED PRICE, SHALL BE INCLUDED HEREIN.
2. Section 3.40.130(1) is hereby amended to read as follows:
3.40.130 Collection of Sales Tax
(1) Every retailer, also in this Chapter 3.40 called "vendor",.shall,
irrespective of the provisions of Section 3.40.140, be liable and responsible for
the payment of an amount equal to four percent (4%) of all sales made by him of
commodities or services specified in Section 3.40.120, and shall, before the 20th
day of each month, make a return to the Finance Director for the preceding calendar
month and remit an amount equal to said four percent (4%) on such sales to said
Finance Director. FOR THE PURPOSES OF THIS PARAGRAPH, ALL SUCH RETURNS AND
REMITTANCE SHALL BE CONSIDERED MADE TO THE FINANCE DIRECTOR ON OR BEFORE THE 20TH
DAY OF EACH MONTH IF THEY ARE SENT VIA THE UNITED STATES MAIL AND ARE POSTMARKED ON
OR BEFORE THE 20TH DAY OF EACH MONTH. IF THE 20TH DAY OF ANY MONTH FALLS ON A
WEEKEND OR HOLIDAY, SAID RETURN AND REMITTANCE MAY BE POSTMARKED THE FOLLOWING
BUSINESS DAY. Such returns of the taxpayer or his duly authorized agent shall be
furnished by the Finance Department. The Town shall use the standard municipal
sales and use tax reporting form and any subsequent revisions thereto adopted by the
Executive Director of the Department of Revenue by the first full month commencing
one hundred twenty (120) days after the effective date of the regulation adopting or
revising such standard form.
3. Section 3.40.130(2) is hereby amended to read as follows:
3.40.130(2)
If the accounting methods regularly employed by the vendor in the
transaction of his business or other conditions are such that the returns of sales
made on a calendar month basis shall impose unnecessary hardship, the Finance
Director, upon written request of the vendor, may accept returns at such intervals
as shall, in his opinion, better suit the convenience of the taxpayer, and shall not
jeopardize the collection of the tax. The Finance Director may permit taxpayers
whose monthly collective tax is less than ~"- ~ "••„~~~~ ~~"~~~ '~'^^~ ONE HUNDRED
FIFTY DOLLARS ($150) to make returns and pay taxes at intervals not greater than
three (3) months.
4. Section 3.40.170(2) is hereby amended to read as follows:
3.40.170(2)
All sales made to charitable organizations in the conduct of their regular
charitable functions and activities. For the purposes of this Section, the
definition of "charitable" shall be as follows:
1) The organization shall have applied for, been assigned, and furnished
their Federal Tax exempt institution license number and their State of Colorado
exempt institution license number.
2) For the purpose of this ordinance, "religious", "religious purposes",
and "quasi-governmental", "quasi-governmental purposes" shall be defined as being
charitable or for charitable use only.
3) "Charitable" requires the dispensation of charity and benevolence
resulting in the rendition of service to the community.
4) Sales to ministers, priests, rabbis, or other employees, staff
members, faculty, and students of religious or charitable organizations for their
personal use are taxable.
5. Paragraph 3.40.170(5)(b) is hereby repealed and reenacted with amendments
to read as follows:
3.40.170(5)(b)
For the purposes of this Section (5), the following terms shall have the
following meanings:
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1) Prescription drug means a substance for human consumption used in the
treatment of prevention of disease or other illness, the sale of which is delivered
on a written order, dated and signed by a license practitioner of the healing arts,
specifying the name and address of the patient for whom the medical substance is
ordered, and directions, if any, be placed on the label or dispensed in the
practitioner's office. Prescription drug does not include any medical substance
which may be purchased by the general public without a physician's prescription.
2) Prosthetic devices means any artificial limb, part, device, or
appliance for human use, which aids or replaces a bodily function; is designed,
manufactured, altered or adjusted to fit a particular patient; and is prescribed by
a licensed practitioner of the healing arts. Prosthetic devices include,: but are
not limited to, prescribed auditory, opthalmic or ocular, cardiac, dental,
therapeutic, or orthopedic devices or appliances, and oxygen with related
accessories.
3) Licensed practitioner of healing arts means anyone who passed the
State requirements which include testing, degree, residency or internship; who can
legally prescribe drugs as defined herein.
6. Paragraph 3.40.170(5)(c) is hereby repealed.
7. Section 3.40.170(5)(a) is hereby amended to read as follows:
3.40.170(5)(a)
All supplies given, sold, or consumed while an outpatient, inpatient or
emergency room patient at the hospital. All drugs dispensed in accordance with a
prescription; all sales of insulin in all its forms dispensed pursuant to the
direction of a licensed physician, all sales of glucose usable for treatment of
insulin reactions; all sales of urine and blood testing kits and materials; all
sales of insulin measuring and injecting devices, including hypodermic syringes and
needles; all sales of prosthetic devices, all sales of wheelchairs and hospital
beds; all sales of drugs or materials when furnished by a doctor as apart of
professional services provided to a patient; and all sales of corrective eyeglasses,
contact lenses, or hearing aids.
8. Section 3.40.170(6) is hereby amended to read as follows:
3.40.170(6)
All sales and purchases of Ee~aa=~-t-~e~~a-~~-~e~ LODGING SERVICES under
the provisions of Section 3.40.020(25) to any occupant who is a permanent resident
of any hotel, apartment hotel, lodging house, motor hotel, guest house, guest ranch,
condominium, townhouse, trailer court, mobile home, auto camp, or trailer court or
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park, and who enters into or has entered into a written agreement for occupancy of a
room or accommodations for a period of at least-e~9-}-THIRTY (30) consecutive
days during the calendar year or preceding year.
9. Section 3.40.200 of the Municipal Code of the Town of Vail is hereby
amended with the addition of paragraph 10 to read as follows:
If any person, firm, or corporation liable for the payment of any tax
covered by this Chapter has repeatedly failed, neglected, or refused to pay the same
within the time specified for such payment, and the Town has been required to issue
distraint warrants to enforce the collection of any taxes due from such taxpayer,
the Finance Director is hereby authorized to assess and collect the amount of such
taxes due, together with all interest and penalties provided therefore by law, and
also, the following additional penalties for recurring distraint warrants:
A. Three (3), four (4), or five (5) consecutive distraint warrants
issued: fifteen percent (15%) of the delinquent taxes, interest and penalties due
or the sum of twenty-five dollars ($25), whichever is greater;
B. Six (6) or more consecutive distraint warrants: thirty percent (30%)
of the delinquent taxes, interest, and penalties due or the sum of fifty dollars
($50), whichever amount is greater.
10. If any part, section, subsection, sentence, clause or phrase of this
Ordinance is for any reason held to be invalid, such decision shall not affect the
validity of the remaining portions of this Ordinance; and the Town Council hereby
declares it would have passed this Ordinance, and each part, section, subsection,
sentence, clause or phrase thereof, regardless of the fact that any one or more
parts, sections, subsections, sentences, clauses or phrases be declared invalid.
11. The Town Council hereby finds, determines and declares that this Ordinance
is necessary and proper for the health, safety and welfare of the Town of Vail and
the inhabitants thereof.
12. The repeal or the repeal and reenactment of any provision of the Municipal
Code of the Town of Vail as provided in this Ordinance shall not affect any right
which has accrued, any duty imposed, any violation that occurred prior to the
effective date hereof, any prosecution commenced, nor any other action or
proceedings as commenced under or by virtue of the provision repealed or repealed
and reenacted. The repeal of any provision hereby shall not revive any provision or
any ordinance previously repealed or superseded unless expressly stated herein.
INTRODUCED, READ AND APPROVED ON FIRST READING this 1st day of November ,
1988, and a public hearing shall be held on this Ordinance on the 1st day of
-4-
November 1988, at 7:30 p.m. in the Council Chambers of the Vail
Municipal Building, Vail, Colorado.
Ordered published in full this 1st day of November 1988.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
1988.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
INTRODUCED, READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED
this day of
-5-
TOWN OF VAIL MEMORANDUM
TO: Ron Phillips
Charlie Wick
Town Council Members
FROM: Steve Thompson
DATE: November 11, 1988
RE: Final Reading of the Amended Investment Policy
We have made two changes to the last revision of the policy to
reflect items of discussion at the November 1, 1988 Town Council
meeting.
The words in bold face were added to the following sentence:
Section VI.1
When money is being wired from one bank to another and
for some reason the transaction is not completed and in
order to protect the Town's funds it is necessary to de-
posit them into an account for one banking day and any
consecutive days that fall on Saturday, Sunday, or a holiday.
In order to take advantage of buying certificates of deposits from
banking institutions who will not accept $99,000 and offer the
more attractive jumbo rate, we have changed the not-to-exceed
amount in sections VI.l and XII second paragraph from $99,000 to
$100,000. However, we will continue to try buying certificates of
deposit for $99,000 and will only purchase a certificate of
deposit for $100,000 if the rate is higher than what other banks
are offering and they meet the standard selection criteria.
ORDINANCE N0. 34
Series of 1988
AN ORDINANCE ADOPTING THE AMENDED INVESTMENT
POLICY FOR THE TOWN OF VAIL.
WHEREAS, the Town Council adopted Vail Town Council Policy Statement 87-1,
"Investment Policy"; and
WHEREAS, the Town Council has directed that said Investment Policy be amended as
set forth in Exhibit A attached hereto and made a part hereof by reference.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO:
1. The amended Investment Policy attached hereto as Exhibit A and incorporated
into this ordinance by reference is hereby adopted by the Town Council.
2. If any part, section, subsection, sentence, clause or phrase of this
Ordinance is for any reason held to be invalid, such decision shall not affect the
validity of the remaining portions of this Ordinance; and the Town Council hereby
declares it would have passed this Ordinance, and each part, section, subsection,
sentence, clause or phrase thereof, regardless of the fact that any one or more
parts, sections, subsections, sentences, clauses or phrases be declared invalid.
3. The Town Council hereby finds, determines and declares that this Ordinance
is necessary and proper for the health, safety and welfare of the Town of Vail and
the inhabitants thereof.
4. The repeal or the repeal and reenactment of any provision of the Municipal
Code of the Town of Vail as provided in this Ordinance shall not affect any right
which has accrued, any duty imposed, any violation that occurred prior to the
effective date hereof, any prosecution commenced, nor any other action or
proceedings as commenced under or by virtue of the provision repealed or repealed
and reenacted. The repeal of any provision hereby shall not revive any provision or
any ordinance previously repealed or superseded unless expressly stated herein.
INTRODUCED, READ AND APPROVED ON FIRST READING this 1st day of November
1988, and a public hearing shall be held on this Ordinance on the 1st day
of November _ 1988, at 7:30 p.m. in the Council Chambers of the Vail
Municipal Building, Vail, Colorado.
Ordered published in full this 1st day of November 1988.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
INTRODUCED, READ AND APPROUED ON SECOND READING AND ORDERED PUBLISHED
this day of
. 1988.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
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EXHIBIT A
VAIL TOWN COUNCIL
COUNCIL POLICY STATEMENT 88-1
INVESTMENT POLICY
SECTION I. STATEMENT OF PURPOSE
The Investment Policy of the Vail Town Council for the Town of
Vail represents the financial boundaries within which its cash
management process will operate.
Areas covered by this policy include:
II. Scope of Financial Funds to be Invested
III. Investment Objectives
IV. Delegation of Authority for Investment Decisions
V. Investment Prudence
VI. Investment Instruments
VII. Competitive Selection of Investment Instruments
VIII. Interest Allocation Method
IX. Safekeeping and Custody
X. Portfolio Diversification
XI. Maturity Scheduling
XII. Qualified Institutions and Primary Dealers
XIII. Investment Committee
XIV. Reporting Requirements
XV. Monitoring and Adjusting Portfolio
XVI. Internal Controls
Cash management goals shall be developed within the constraints of
this policy statement. Goals shall include:
A. Percentage of cash invested. The Town shall be
earning interest on all available funds for investment.
B. Percentage of Return. (Yield). A targeted range of
yields should be stated as a goal. This target yield
goal shall be presented in the annual operating budget.
C. Total Dollar Return Goal. Combines the goals of
percentage of cash available and the percentage of yield
to obtain a total dollar return goal.
SECTION II. SCOPE
This investment policy applies to all financial funds of the Town
of Vail (hereby referred to as the "Town"). These funds are
/ccounted for in the Towns comprehensive Annual Financial Report
and currently include the:
General Fund
Capital Projects Fund
Construction Funds
Special Revenue Funds:
Real Estate Transfer Tax
Parking Fee Fund
Conservation Trust Fund
Enterprise Funds:
Internal Service - Fleet Maintenance Fund
Internal Service - Health Insurance
Debt Service Fund
Special Assessment Funds
Monies held by the Colorado State Treasurer and Eagle County
Treasurer during tax collection periods shall be governed by State
of Colorado and Eagle County investment policies and are not
subject to the provisions of this policy.
SECTION III. INVESTMENT OBJECTIVES
Each investment transaction shall first seek to ensure capital
losses are avoided, whether they are from default of securities or
erosion of market value. The Town, as its second major objective,
seeks to attain market rates of return on its investments. Market
rate objectives must be consistent with constraints imposed by the
primary objective of the safety of principal, internal cash flow
considerations and any Town of Vail ordinance, restricting the
placement of public monies. Speculative investments will not be
allowed. Speculative investments are those attempting to gain
market premium appreciation through short term market volatility
resulting in increased risk and loss exposure. The Town will not
purchase a security which cannot be held to maturity. This does
not mean an investment cannot be sold prior to maturity.
- 2 -
SECTION IV. DELEGATION OF AUTHORITY
Management responsibility for the investment program is held by
the Town Manager and appointed designees. No employee may engage
in an investment transaction except as provided under the terms of
this policy and any procedures which may be established by the
Town Manager. The Town Manager shall review and approve the
monthly investment report (see section XIV).
It shall be the duty of the Controller to manage the day-to-day
operations of the portfolio, and place actual purchase/sell orders
with institutions. In the absence of the Controller, the
Administrative Services Director shall assume these duties.
The authority for the investment philosophy and selection of
investment managers for the Town of Vail Employee Pension Plan and
the Town of Vail Police and Fire Employees Pension Plan shall be
the responsibility of the Pension Plan Trustee as defined in the
pension plan document.
SECTION V. INVESTMENT PRUDENCE
Investments shall be made with reasonable financial judgement and
care, under circumstances than prevailing, which persons of
prudence, discretion and intelligence exercise in the management
of their own affairs, not for speculation, but for investment,
considering the primary objective of safety of principal as well
as the secondary objective of the obtainment of market rates of
return.
Investment officers acting in accordance with written procedures
and exercising due prudence shall be relieved of personal
responsibility for an individual security's credit risk or market
price changes, provided deviations from expectation are reported
in an timely fashion, and appropriate action is taken to control
adverse developments.
SECTION VI. INVESTMENT INSTRUMENTS
The Town shall invest in the following accounts, or securities:
1. Fully collateralized or insured interest bearing
checking accounts, savings accounts, and certificates of
deposit at commercial banks with amount not to exceed
$100,000 if the bank is not designated as a qualified
institution by the Investment Committee.
Collateral shall be limited to treasury bills and notes,
municipal bonds, and government agency bonds and notes.
Real estate mortgages are prohibited for use as
collateral.
- 3 -
SECTION VI. INVESTMENT INSTRUMENTS (CONTINUED)
A commercial bank may use any securities authorized by
the Public Deposit Protection Act as collateral under
the following circumstances:
When money is being wired from one bank to another and
for some reason the transaction is not completed and
in order to protect the Town's funds it is necessary
to deposit them into an account for one banking day.
plus any consecutive days that fall on a Saturday,
Sunday, or a holiday.
2. Certificates of deposit at savings and loan associations
insured by the FSLIC with amount not to exceed $99,000.
3. Treasury bills, treasury notes, treasury bonds and
Federal agencies securities which are guaranteed by the
full faith and credit of the United States of America.
4. Coupon or discount notes issued by the Federal Home Loan
Bank, or the FNMA.
5. Colorado Public Investment Pools. The Town may
participate in a Colorado Public Investment Pool, the
Colorado Local Government Liquid Asset Trust or other
similar local government pools organized in conformity
with Part 7 of Article 75 of Title 24, CRS, which
provides specific authority for pooling of local
government funds.
6. Money Market accounts which primarily invest in treasury
notes, bills and bonds and governmental agency
securities for which shares may be purchased for $1.00
and liquidated for $1.00.
Repurchase agreements - with either qualified commercial
banks or a primary securities dealer for which a properly ex-
ecuted master repurchase agreement has been entered into by
the Town. Repurchase agreements involving pooled collateral
shall be avoided. The securities used as collateral shall be
safekept in accordance with Section IX on Safekeeping and
Custody.
The Town will concentrate its investment efforts in, but not to be
limited to, U.S. Treasury obligations, certificates of deposit and
interest bearing checking accounts issued by financial
institutions located in the Town, Eagle County and the State of
Colorado.
- 4 -
SECTION VII. COMPETITIVE SELECTION OF INVESTMENT INSTRUMENTS
If a specific maturity date is required for cash flow purposes,
bids will be requested for instruments which meet the maturity
requirement. If no specific maturity is required, a market trend
(yield curve) analysis will be conducted to determine which
maturities would be most advantageous. After selecting a type of
instrument at least two bids should be obtained from similar
institutions. Two bids are not required if treasury bills or
notes are purchased at a treasury auction or for overnight repur-
chase transactions.
The Town may place an investment with a local institution that is
not the highest bidder, provided the bid is not more than 25 basis
points below the highest bidder.
The rate of interest must be at least equivalent to the average
rate of return available in the market place.
It is the responsibility of the Controller to demonstrate
compliance with this section. A local institution is defined as a
bank or savings and loan association doing business inside the
corporate limits of the Town of Vail and/or Eagle County.
SECTION VIII. INTEREST ALLOCATION METHOD
All. investments will be in the name of the Town of Vail and in
most cases it will be a general policy of the Town to pool all
available operating cash into a Treasury Cash Management
investment portfolio. However, a specific investment purchased by
a specific fund shall incur all earnings and expenses to that
particular fund. Interest earnings from pooled funds shall be
allocated to all participating funds in the following order:
A. Payment of interest earnings shall be allocated to
designated funds from its specific investments.
B. Payment to the General Fund of an amount equal to the
total annual bank service. charges as incurred by the
general fund for all operating funds as included in the
annual operating budget.
C. Payment to the General Fund of a management fee equal to
5% of the annual pooled cash fund investment earnings.
D. Payment to each fund of an amount based on the average
monthly cash balance included in the common portfolio
for the earning period.
- 5 -
SECTION IX. SAFEKEEPING AND CUSTODY
All investment securities (which are held in book entry form)
purchased by the Town shall be held in third-party safekeeping by
an institution designated as primary agent. The primary agent
shall issue a safekeeping receipt to the Town listing the specific
instrument, rate, maturity and other information.
Securities may be purchased from the primary agent's brokerage
department and safekept by the same bank's trust department.
SECTION X. PORTFOLIO DIVERSIFICATION
The Town will diversify use of investment instruments to avoid
incurring unreasonable risks inherent in overinvesting in specific
instruments, individual financial institutions.
Maximum Percent
of Portfolio
Diversification by Instrument:
Money Market & Interest Bearing
Checking Accounts with
Commercial Banks 50%
Money Market Accounts 50%
U.S. Treasury Obligations
(Bills, Notes & Bonds) 100%
U.S. Government Agency Securities
(per Section VI.4) 100%
Repurchase Agreements 75%
Certificate of Deposit
Commercial Banks 100%
Certificate of Deposit
Savings & Loan Association 25%
Local Government Investment Pool 100%
Diversification by Financial Institution:
Repurchase Agreements
No more than 50% of the total investment portfolio
shall be secured in Repos with any one institution.
Certificates of Deposit - Commercial Banks
No more than 20% of the total investment portfolio
shall be secured in any one commercial bank's CDs.
- 6 -
SECTION X. PORTFOLIO DIVERSIFICATION (CONTINUED)
No brokered certificates of deposit.
If the amount of any of the above investments are in excess of the
percentage allowed, it is not considered a violation of this
policy if the amount is corrected within 30 days.
SECTION XI. MATURITY SCHEDULING
Investment maturities for operating funds shall be scheduled to
coincide with projected cash flow needs, taking into account
large routine expenditures (payroll, bond payments) as well as
considering sizeable blocks of anticipated revenue (sales tax,
property tax). The average maturity of the portfolio shall never
exceed 2 years.
SECTION XII. QUALIFIED INSTITUTIONS AND PRIMARY DEALERS
Qualified banks - can only be commercial banks and the Town's
investment with the bank may be in excess of $100,000. The Town's
Finance Controller shall obtain and review the bank's quarterly
consolidated report of condition ("Call" Report) - the annual
audited financial statements, the monthly listing of securities
pledged for collateralization, and the independent bank
evaulation, quarterly, to determine that the bank meets the
standard selection criteria established by the Investment
Committee.
Non-qualified banks - can be either commercial banks or savings
and loans and the Town's investment with the bank is or will not
be in excess of $100,000. The Finance Controller shall inquire
with bank officials and/or review an independent bank evaulation
to determine the bank meets the standard selection criteria
established by the Investment Committee.
The Town shall select a primary bank, the bank the Town uses to
process daily deposits and checks, every two years. A formal
request for proposal should be used in the selection process.
Securities dealers not affiliated with a bank shall be required to
be classified as reporting dealers affiliated with the New York
Federal Reserve Bank, as primary dealers.
- 7 -
SECTION XIII. INVESTMENT COMMITTEE
There is hereby created an investment committee, consisting of the
Town Manager, Administrative Services Director, and the Finance
Controller. Members of the committee will meet at least quarterly
to determine general strategies and to monitor results. Minutes
of the decisions made by the investment committee shall be kept on
file in the Town Clerk's Office. The committee shall include in
its review and deliberations such topics as: potential risks,
authorized depositories, rate of return, maturity structure and
investment transactions.
SECTION XIV. REPORTING REQUIREMENTS
The Finance Controller will submit a monthly investment report
which discloses investments on the last day of each month. This
report will be distributed to the Town Manager, Town Council
Members, and the Administrative Services Director. The Finance
Controller will present at least semi-annually the investment
report to the Town Council.
SECTION XV. MONITORING AND ADJUSTING THE PORTFOLIO
The Finance Controller will routinely monitor the contents of the
portfolio, the available markets and the relative values of
competing instruments, and will adjust the portfolio accordingly.
SECTION XVI. INTERNAL CONTROLS
The Finance Controller shall establish a system of written
internal controls, which shall be reviewed annually by the
independent auditor.
The effective date of this policy shall be the day of
19
Kent Rose, Mayor
- 8 -
RESOLUTION N0. 42
Series of 1988
t
A RESOLUTION IN SUPPORT OF U.S. WEST'S PROPOSAL
FOR LOCAL TELEPHONE CALLING AREAS IN RURAL COLORADO.
WHEREAS, U.S. West has proposed to expand local telephone calling areas in rural
Colorado; and
WHEREAS, expanded local calling areas could eliminate long distance charges
between communities located in the same area; and
WHEREAS, the Denver metro area is opposing expansion of the rural local calling
concept as they feel the metro communities will absorb the costs of this rural
program; and
WHEREAS, the Vail Town Council is supportive of the local telephone calling
areas for Eagle County and the Upper Eagle Valley; and
WHEREAS, the Public Utilities Commission has to approve the local telephone
calling areas and needs to know the opinions of rural Colorado.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO:
The Town Council hereby sets forth its support to U.S. West's proposal for local
telephone calling areas in rural Colorado.
INTRODUCED, READ, APPROVED AND ADOPTED this day of
1988.
Kent R. Rose,. Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
RESOLUTION N0. 43
Series of 1988
A RESOLUTION TO ENDORSE THE MISSION STATEMENT
OF THE EAGLE COUNTY TELEVISION TRANSLATOR COMMITTEE.
WHEREAS, the Town of Vail believes that investigation of the feasibility of a
television translator system for Eagle County is important; and
WHEREAS, the Town of Vail has contributed funds for a portion of the cost of an
engineering feasibility study for a television translator system in Eagle County;
and
WHEREAS, a member of the Uail Town Council serves as one of the representatives
on the Eagle County Television Translator Committee.
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO:
The Vail Town Council endorses the mission statement of the Eagle County
Television Translator Committee which is: "To develop a business plan for the
construction, operation and tax base funding of a five (5) channel Television
Translator System to serve a majority of Eagle County residents and businesses."
INTRODUCED, READ, APPROVED AND ADOPTED this 15th day of November, 1988.
Kent R. Rose, Mayor
ATTEST:
Pamela A. Brandmeyer, Town Clerk
A y
EAGLE COU~ITI' TV TRAI\SLATOR CO~f~1ITTEE
August 'L9, 1988
Mission Statement.
To develop a business plan for the construction, operation
and ta:: base funding of a five (5) channel Television
Translator System to serve majority of Eagle County residents
and businesses (T-iU/ Eaalc River/ Colorado Ri~•er Corridors).
Goal Statements
1. Engineering Feasibility Study
a. obtain money for study (complete)
b. finalize study (December 15, 1988)
.. c. interpretation of study !January 15, 1989)
2. Financial Plan/Funding Sources
a. tai: based plan (February 15, 1989)
(special districts through inter-governmental
agreements/ neg.=ly created special authority/ count~~)
b. financing alternatives such as lease purchase of
capital egi.iipment (February 15, 1989)
3 . Omani zat i o;,al Str•i~c hire
a. hog: will organization ~aorh? ( "larch 15. 1989 )
Ire. deter•minat.ior, of lead agency ( contact Pitl~.in and
otl~~er count: ies ) ("larch .f :~ , 1989 )
c . pool ins of 1 icenses for county ~: idF s~'stem
(March. l5, 1989)
d. outside contracts vs.~ in house management and
operation (March 15, 1989)
Note: Organizational structure and recommended funding
sources will be guided by Engineering Feasibility Study and
Financial Plan.
4. System Construction
• a. equipment specifications & bid documents
(April 15, 1989)
b. award construction (installation) contract
(June 1, 1989)
c. construction complete and system operational
(September 1, 1989)
CM388
TOWN MANAGER POSITION
LOCAL SALARY COMPARISONS PRIVATE SBCTOR
AVHRAGH AVHRAGH ANNDAL TOTAL
ANNDAL ACTOAL BONDS RHTIRBNBNT AOTO NOOSING COMPENSATION
BDSINBSS S
----------- IZB BDDGBT # SALARY
--
- RANGB RANGE RANGH RANGE RANGE
BMPLOYBBS -
--------------------------------- -------------- ------------------------ ------------ ------------------------
(FTH AND PT)
0-50 2,093,700 3 65670 10000-20000 3267-3267 0-5000 9000-15000 87937-108937
51-100 3,100,000 2 65000 15000-25200 3267-3267 0-5000 -0- 83267- 98467
101-150 6,500,000 3 74500 2000-21000 3267-7467 0-5000 -0- 79767-107967
151+ 11,600,000 2 76500 16800-29200 7467-7647 5000-5000 -0- 105767-118347
TOV 300 BMP. 18,000,000 1 68000 -0- 11968 5000 12000-15000 96968- 99968
HHALTfl INS: 100X PAID BY EMPLOYER IN ALL CASES. TNO PAY FOR DEPENDENT COVBRAGB,
ONB PAPS 50%, ONB PAYS 33X AND SIB ARB 100% PAID INCLDDING DHPBNDBNTS.
RHTIRBNBNT: FIVB NAVH RHTIRBNBNT PLANS. SS C09BRAGE OF 7.51X OF $43500 IS MANDATORY.
ADTO: FIVB ARH PROVIDED WITH ADTOS.
NOOSING: TWO HAVE BOOSING FDRNISNBD AND ONB NAS $9,000 NOOSING ALLOWANCE.
BNTERTAINMH NT BBPENSB: PROVIDED FOR ALL.
OTNHR BHNBF ITS: ADTOMATIC COLA, 1,000,000 LIFE INS., ATHLETIC CLDB MHMBHRSNIPS,
DISABILITY A DBATN BHNBFITS BQDAL TO ANNDAL SALARY FOR 10 YHARS,
FOLL LADNDRY ~ DRY CLEANING SHRVICES, ANNDAL PHYSICAL BEAM, SBI PASS.
w"y'.JV lr ' cid 1~~~ _~..~ h1LK i ~ t_t~rr t_,t~r~ i 1~~i .t
r . " ._,
T~LECOPY
w /. K.a~i
IJ/rectoi Propert/es
CEntrBl R9Qion
flh~ N~r!i ~
.839 North Bert Est, Su/te 490, Houston, TX l'~033
November 16, 1988
Mr. Mike Rose
Transportation Director
Town of Vail
75 S. Frontage Rd.
Vail, CO 81657
Dear Mike,
I had a conversation with both our Zone Manager and Area Manager
regarding what they feel we could propose to you to give you
a deal which the Town will find mare palatable. Our operations
people are leery of proposing a minimum annual guarantee which
would have us paying more than 10~ of our annual concessionable
revenue as we have done this year. This is especially difficult
to forecast when much of the business is weather-dependent.
Our operations staff does not feel comfortable with the following
proposal because of the uncertainties involved, but have
reluctantly agreed to support it.
We propose a three-year term commencing 1/1/89 with a concession
fee of 10% against the following minimum annual guarantees:
1989 $ 35,000
1990 36,000
1991 38,000
Total $109,500
Our present ready/return spaces and operational area would remain
intact. I hope this proposal meets with the Town's approval.
This is subject to the further approval/disapproval of the Hertz
executive management.
Continued ,
__ ~ ?4 HEF.'TE t~i=iF.'F~~~'HTIi~f`~
Page 2
Mr. Mike Rose
November 16, 1988
r' ~ _ _
Mike, T would again like to point out that the above $109,500
guarantee represents the minimum the "town can receive over the
three year term. Hopefully, by having a full-time agent there,
the gross will exceed the minimum and the Town's annual revenue
would be 10% of a higher amount. please let me have your concur-
rence sa I can get my corporate appravals in line. My phone
number is (713} 987-0776; Fax number is (713) 987 3855.
Yours truly,
1~~~ "
William J. Keog
(Dictated, not read)
~'~~/
WJK/gm
cc: Y. Meacham
~ ^ ^
ounce- s
m~ ion
u e
After 1? study' sessions and '
countless hours of discussion,
Aspen's city. council approved a
$26 million 1989 budget Mon-
day, $1.4 million higher than
first presented in September.
Total forthe revised document
is $26,024,879, ofwhich $6.2 mil-
lion is to come from voter-
approved bonds to finance the
Rio Grande parking garage.
Included in the budget is
$510,800 to be raised by a 2.515
mill property tax levy, up 0.101
mills from the 2.404 imposed
this year.
One reason for the property
tax hike, Finance Director Cindy
Wilson told the council, "is
because the state changed the
ratio ofvaluation for assessment
on residential property from 18%
of actual value to 1696:'
Total Expenditures
Total expenditures for the
General Fund are expected to be
$7,275,311, while revenues are
listed as $5,978,4'r 9, plus
X2,423,600 transferred into the
li~nd and $823,800 transferred
out. '.
Other funds that have major
transfers out are: Land,
revenues of $3,443,000, trans-
fers out $2,086,400; Electric,
revenues, $4,787,940, transfers
out, $980,100; Water, revenues,
$2,363,000, .transfers out,
$232,100.
= Of total Electric Fund
revenues, $1,098,640 is to come
from the Ruedi Hydropower
Plant, owned by -the city and
county, which will account for
$64,000 of the transfers out.
Funds benefitting from trans-
fers in are the Asset Replace-
mentFund, Golf Course, Ice Gar-
den and seven separate debt ser-
vice funds.
Fund Balances
The budget shows an increase
in the Water Fund year-end
balance of $105,500, while the
General Fund has a fund balance
decrease of $93,032 and the
Electric Fund a drop of $438,582.
At the end of 1989 the total
year-end fund balance is
expected to decrease by
$131,399, which still leaves a
total of over $5.5 million.
During the budget discussion
Monday, council member Bill
Tuite pointed out that the coun-
cil was able to include several
capital items in the budget
because it had changed its policy
about reducing fund surpluses.
Mayor Bill Stirling agreed,
asserting that "fund balances
were artificially high and the
reductions are conservative."
Business Fees
The council, however, did not
agree with his request to elimi-
nate the 50% hike in business
license fees, adopted earlier to
accompany a 50% increase in liq-
uor license fees.
Saying,"Aspen is already a
tough place in which to do busi-
ness,"Stirling asked his peers to
roll back the business license fee
to 1988 levels, adding, "I see no
good reason- for the increase;
there is no direct business tie to
the $55,000 revenue increase."
Tom Isaac, who originally
proposed the increase to accom-
pany the proposed liquor license
fee hike, replied that it would
help repay the city for its contri-
butions to the resort association,
which do help local businesses.
Gassman joined Isaac in sup-
porting the license fee increase,
explaining: "Businesses exploit
the name Aspen and should pay
to do so."
Isaac's Request
A request by Isaac that the
council rescind its $10,000 dona-
tion to the Environmental
Resource Group to help fund an
engineering study of ways to
reduce road cut stuffing on Inde-
pendence Pass was not accepted
by other council members.
Isaac pointed out that, with
the county's recently approved
use tax, it could and should fund
that portion of the study
~._.
r
($30,000) not. financed by the
state highway department (also
$30,000).
Bill Tuite explained he would
like to ask the county to do so,
but would not jeopardize the
good relationship with commis-
sioners by unilaterally dropping
the city contribution.
Isaac also said he would like to
increase the Anderson Ranch
contribution from $1,500 to
$5,000, but when this was not
accepted by the others, agreed to
a suggestion by Stirling and Bill
Tuite that donations for Ander-
son Ranch and Mountain Rescue
each be raised $1,000.
This would result in a $2,500
contribution forAnderson Ranch
and $3,500 for Mountain Rescue.
DESIGN REVIEW BOARD AGENDA
NOVEMBER 16, 1988
3:00 P.M.
SITE VISITS
2:30 p.m.
1 1. McCue Addition
Lot 3, Bighorn Estates (Final)
Motion-Gwathmey Second-Leary
Vote 3-0 on kitchen addition & deck & trash
enclosure.
2 2. Brown Roof
Lot 16, Block 1, Vail Village 1st (Final)
TABLED
3 3. Hong Kong Cafe - Minor Addition (Final)
TABLED
MEMBERS PRESENT MEMBERS ABSENT
Kathy Warren Bryan Hobbs
Ned Gwathmey Roy Sante
Dan Leary
STAFF APPROVALS:
R & R Barbeque Sign - Vail 'Run Building
Westwind Awning
Vail Valley Medical Center New Incinerator Location
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