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HomeMy WebLinkAbout1974- 3 to Contract an Indebtedness on behalf of the credit therof in issuing general obligation bonds of said town in the principal amount of $5,500,00 for the cost of acquiring, constructing and equipping a municipal parking structure~;. s'rA~rz: of cor,ornDO ) courrz'Y oF~ r~1~c~L~, > s s . TOG3i3 nI' VT~Ii~ ) The Town Covr~cil of the Town of Vail, Colorado, met in regular session at the riunici~~al Building in said Tow~z on Tuesday, the 19th day of February, 1974., at thc, hour of I, ~~ o'cloclc ~.M. upon roll ca1.l the following wire present: Mayor : John I?obsan Councilmen: Kathleen K].ug John Donovan ll~~~ 1~ T ~~,rqm -~ ti J- _ J.,, Josef Staufcr Thomas Steinberg Albert Y~~hi.ten Absent : ~©S.o~4`i ~,+9/l~/r~a.i cY Councilman -S7-~,v~~ e~ introduced and Councilman r /CL.UC moved the approval on first reading of an Ordinance i which was read in full and is as follows: _. • . • . • /~ OP.DII•IT.r?CIs N0. J 11N OI:~D:1N1',1~Cr TCl CON`CRIa.C'.l:' ~.I~7 J:NI:~1'I3'Pr'DNT'SS Oi~T L'?:I111LF OI' 'J'ill:; TO1~JJ~v OF VAIL, CULOI:ADU, T1t1D UPO11 rrirT~ nnWT'~7~T~ rntiS~Tt~~.T;~ T+~r ICCTTT~i.t~'+ /''r,jtT117.1- TAT' T`~ rT»"f.rt L'Oi~DS OF ST1]:D TOtfi; IN THE I'I::1:NC ~ ~:'?~L 1~1~ZUtTt~1`i' OF $ .`.i , !I ~ 0 , 0 0 0 FC~R 7'liE I'tJI;I'OSE OP I'1?,YINC, , 1: r.7 WIIOL~? OR I:N F'iiTc':l' , TIIE COST OI' ACQU I,1NG , CU%~TS`.CRUC`i']:t`'G T:I~i;7 EQUIPI'I:IJG Ti IsiiN "CTPAL I'UI'LJ"C PAI2I~T?~C, FI~C]:LI`i"~ 1~7'vD SITF; 7'IIL;I~EFOR, '.l'OGETHER la 1_=TIi ALL D?LC",i~S;~f1RY TIJCIDEI~T'i'11.LS ; PRESCRII>1NG TIII; FORM OF SAID BONDS ; ATvD PKOVIllING FOR `l.'H:G Ll,VY OF '1tAXES AI.Vll FOR THE AI'PLICA'I'ION OF SALES TAB REVENUE'S OF `l'I3E 'TOWN OF VAIL TO PAY SAID BONDS AND THE INTERI;S'i' THEREON. WIiEREAS, at a speca_al election of the qua.)_ified, registered electors of the Town of Vail, Colorado, duly rall.ed and held on Tuesday, the 25th day of September, 1973, in accordance with law and pursuant to due notice, tl~rere was submitted to said ellectars tl~e follot~;_i_~zg question: "Shall the Town of Vail, Colorado, be authorized to issue its negotiable, interest bearing General Obligation Bonds in one series or more in an aggregate principal amount riot to exceed $5,500,000 or so much thereof as may be necessary for the pur- pose of defraying, in whole or in par L-, the cost of ac:yuiiny , cons-Lruc:~iriy ar~u ~quippir~g a iuunicil~u.i public perking facility and site therefor, together with all necessary incidental and appurtenant facilities, structures and equipment, to provide facilities in the Town for vehicle parking, and including costs incidental to the authorization and issuance of said bonds and the construction of such facilities, such bonds to bear interest at a maximum net effective interest rate not exceeding 10 percent per annum, and to mature serially during a period of not more than 25 years from the date or respective dates of the bonds, such bonds to be payable from general ad valorem taxes, except to the extent other funds are available therefor, and such bonds to be sold and issued at one time or from time to time, in such a manner and amounts and upon such terms and conditions as the Town Council may determine, including at the option of the Town Council provisions for the redemption of bonds prior to maturity with or without the payment of a premium?" and WHEREAS, more than a majority. of such qualified, registered electors voting on said question voted in favor of creating such debt and issuing said Bonds and; WHEREAS, the Town Council of the Town of Vail has deter- mined, and daes hereby determine, to issue at this time the general obJ.:igation bond; fo_r municipal public, par.ka_ng facilities for_ the Town -2- • . ~ . • G{ Vci~..i , CO.1.C'7°i;;'.:~;, ~~i.'t}70:i.~:G'Q is++. t, f'~.?.;I,C~ ::•;~cC:!_u.l C;:~.f-.'Ct:.":_C~.'i"1 ~"1!:?1C~. OI1 t}')E..' ~._: ._. C}.~.; Of ,.c'!.... ,,=::11bG2_, ~_~7_i, 111 d ~Ji":i:z_. 1~:i~Ilc_.:1_]?;_tl i3lrtOl'11'lj-. Of t;~~,~~(IOrOO , 8:; i?<.:1:C?lIi~l~:'i:Or .~Ct forth In t.rll:l UJ:C,.irl.ullGG; i:I17:.~. y;ti};}{r;l,;,,, pursua,~.t, to Orci3n~,I-,.cr . l~. (Scr:ic's of :L973) of th.c: 'T.'o~,m of Vail, them was submit.-t.r.~i t.o ~:.?.ac c}~~,talif:i_f~d, registcr_cc~ e].ect0:~°~; of tYle '1'oto-rl of V~;.il, Color~ldo, at sa:i.<J. specia7_ electac:~r1. held on the 25th day of September, 19%3, the question of the impo- sition of a sales tax on the sale of tangib]_e personal property at retail arld the furnishing of services within t}~~ Towlz of Vail; and WHEREAS, more than a majority of such qualified, registered electazs voting on said sa.l..es t.ax quc:st.i..on vot.c:d i_n f_avor of imposing t}~~: saa_d sales tax; and C~ti~HFR}A.S, the ToG~m CoullciJ_ of the r1~o~~;n of Vail has est.i_mated a.rld de"t:erirl i.ned and does hereby estimate and determine that the princi- pal maturing and the interest accruing on said $5,500,000, the princi- pal ~~maunt of bonds far municipal public parking faci_.lities, may be met tram rc:veliuc.s derived from sources u~~,er than gerleral oui.igdLiv« ad valorem property taxes, including without limitation the revenues to be derived from the sales tax authorized by said Town of Vail Ordinance No. 11 (Series of 1973) and approved by the said electors of the Town of Vail voting at said special election; and WHEREAS, the Town Council of the Town of Vail, Colorado, has determined, and does hereby determine, that it is necessary and for the best interest of the~Town of Vail and the inhabitants thereof that said Bonds for municipal public parking facilities in the total principal amount of $5,500,000 be now issued in accordance with the provisions of this Ordinance. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: 1. For the purpose of providing funds to defray in whole or in part the cost of acquiring, constructing and equipping a municipal public parking facility and site therefor together with all necessary incidental and appurtenant facilities, structures and -3- ~ ~ ~ ~ ~ F'(:~U1-J.~7ileJlt, t.C> i i."C}~?'J_C~a::: f. c`; C' l :i_~,__i,t~:~ 1J: 1. ~".l"~E~ '.~.'t_)1'iSl f~o1 l'E~`.~l:i_C1C: ~)~?.i"}i ;1C7 arld ]_I1C.ll1C~a J1 c.! C:O:i;~:E, 71'(`1~`if:'it.~:.cw~ 'l':C~ ~:.t"t(' <;11 i~_~l')1: -~ ;,'r'~--:i C,1'~, c1 I1C~ 1.S`il1.CtI7Cf' O~ :~. ~ C~ Bp:iC `, a~l:l t.r1C:~ C.'.iaa:l~ 1_~..~1C'i;:2.C)a1 o:C :i.1C;11 :: c2Ci..11.-i:l-C`.,; , t11E: '1'C)~~7i~ Ot Vail, Coloraac:>, sl-laJ_]. issue or. bel-la:(.F. of ~~.i.ci '1:"a~~,~`1 ;~:;rld upol-J t.}:~.~ creci_t thc>Y°e of, it.~ ne(3ot-iab:lc ccau~?on Gf~I1L~1~~ ~. Obli_c;~,.~.ion Barz(:1s, Ser~i.p: March ~., J_914 , irl thc~ ~~c~gz~c~c,7a°tc: prnri.pal. ~.~raoun ~, of $5,500,000 dated March 1, 1974, cons:iati.rlg of 1,100 bonds in the denomination of $5,000 each, numbered 1 to 1,100, inclusive, pa~,~alal.e in lawful morlc:y of. the Un.it-ed Si:ates of .~nlurica. Said Bor .~s shall bear i_ntel:est as evidenced by one set of bearer interest cou.~ons, and for cert~.lin bonds, t~~~o sets cif bearer interest r.oupons ~ti~itl~ oJ.ze of said sots designated "1'a" and i:.he ot.hea- supplemental. se'c desi.gnatc~d '°I:i" , a.ll ~:LttacliE:cJ. i.o sai.ci Bonds , as herein set forth. Bonds numbered 1 to 772, inclusive, will bear only one set of interest coupons. Bonds nuJbered 1. to 463, inclusive, $i1tL11 1JL'ctr :L1.1l.U.LI%`.~ll l;iii'1C.:Uil frUl°i ltilc.1LC.J.1 1, 1974, t;U ~i1C: ~:u~'1itE~:.~ of their principal sum at the rate of seven per centum (70) per annum. Bonds numbered 464 to 593, inclusive, shall bear interest thereon from March 1, 1974, to the payment of their principal sum at the rate of five and thirty five hundredths per centum (5.350) per annum. Bonds numbered 594 to 740, inclusive, shall bear interest thereon from March 1, 1974, to the payment of their principal sum at the rate of five and four tenths per centum (5.40) per annum. Bonds numbered 741 to 772, inclusive, shall bear interest thereon from March 1, 1974, to the payment of their principal sum at the rate of five and five tenths per centum (5.50) per annum. Said interest shall be payable December 1, 1974, and semi- annually thereafter on the 1st day of June and the 1st day of December of each year. Bonds numbered 773 to 1,100, inclusive, will bear two sets of interest coupons, with one of said sets designated "A" and the other supplemental set designated "B". The "A" coupon interest on -4- ~ • • .. ~'C`., ;1.i1?l.)t ?"C`E 77 t:U ~>~'~ , a riC'`]_t1:::1 VC.', `)i%i.~ ~~. ~ };c?~"c?l">lE: ~..'t: ~".)7.%'. 1`,,t:i'_ af. .) ~ ~s':-'. a?: (vi ~ ~{{.\%F, ~_r.t'1'L:)`is }JE..I. G<.I'a ~ U..: ~ .`~ . )- o ) ~ .. i '].All.i.l ~ 7"C);?1 l~;f~.:i u)1 ] , .)..~il~t', 'l.C~ T:.l.ic:'. )),'zyP~C'.J'!"~.. O~ tl'le' j~a:1~C.aa ~.!a Ca).~ _i_a_C? ~-~_>I1CsS, 4`'1.tll Foct)C:+. -. - ' .. . c _ .... E:, De.ce~mbPa.. ]_ 1..97 `,~~ ;;, •~~~ ,-,1.:1 ~ +?^> > 1J"l l .3Y_C'.~; ~. }1a~ d:3 .:. , . , c _: r1 + r_'., i'iL. r.,. t t. :C_ ft~`'.. C.?,7 t:l;~.. l,t day of Jur7.c~ and the ].st d<:y c.,~ L~ ~; _~,i,?~~~.~:~ cif Ertac:h yc~ax°. `i'l~lE: ~~ , « -, _ F~ cc~u};~a17 ~_rl.tara:;t" on B,,nE]k nurtlA~4,_~e~~A /'~3 t:o ~:C1d, inclu,sa_~rc, ,,~,~t.L:i. be pa.~rable at the: rate of two and f ive: tenths per centum ( 2 .5 ~ ) per annum for the period from April 1, 1974, to April 1, 1984, payable Dec~c~rnbcr 1, ]_974 , and semi.anntlal_ly t17~I.:e.afte:r: ar,. the lsi~ day of June and the 1st day of December of each year, with the "B" coupon :i_n.te~rc'st c:ami_ne~ due on April 1, 1°~'~i }:»:i_raC~ t:>-y,.~):,]_e orl 1~~p:ri]_ 1, 1.~?84. `C'lle "~" cal:?17On illtf'rE'.St O1'1 f30]`1dS nL'!1i[)~E'_]"E'.d ~0~: t.0 l,].OO, 111c1U~>~.`,>E'.r sha]_1 k~E:~ payable at the rate of fal?r ~-~.l,d fi_~%E: ~~.c:I:~t}~i~ }_.%~?s: ceJ-lt:t"litl (~:.5 ~) per annum from March 1, 197 , to the payment of: the princ5.pal of said Bonds, with said interest payable December 1, 1974, arld semi- ar~nu.~al..ly thereafter on the l.st day of June and the 1st day of UL'e.:2iitl:i%:;: Ci t::nCi1 year. T11C "~"' COLT. ::i 1nte~C:?t Gia i0i;u:~ I:t;.<<'~.~^_:~.~'~~. 909 to 1,100, inclusive, shall be payable at the rate of three and five tenths per centum (3.50) per annum for the period from April 1, 1974, to April 1, 1984, payable December 1, 1974, and semi- annually thereafter on the 1st day of Juno and the 1st day of December of each year, with the "B" coupon interest coming due on April 1, 1984 being payable on April 1, 1984. The subject Bonds shall mature serially in regular numerical order on December 1 of each year, as follows: Bonds Numbered (both inclusive) Amount Maturity 1 to 3 $ 15,000 1975 4 to 13 50,000 1976 14 to 45 160,000 1977 46 to 80 175,000 1978 81 to 120 200,000 1979 121 to 163 215,000 1980 164 to 206 215,000 1981 207 to 251 225,000 1982 252 to 299 240,000 1983 300 to 350 255,000 1934 351 to 405 275,000 1985 406 to 463 290,000 1986 -5- • . i . • ~3C)1"t.C~Ki 1\ i,'liil~al:']..E'C.t ,, 5?_7 i:c> ~;~33 3s~~,000 l~l~;U J y ~'~' l-U U 1.~ 'i .J ..~ . J, U V J J...J U J 6Cri to ')~~0 3rsU,0U0 19cU 741 to f:::.',l 4.0`5 ~ Ut7U J. ~%1'1 909 to :J_UOQ 4i~0,fi()U J.9~~~~. lOUI to 11UU SUU,UUU 1994 Bonds of this issue maturing on or before December 1, 1986, are not redeemable prior to their respective maturity dates. Bonds of this issue ma-k.ti.rinq i.z~ th.e ye~.z.rs 1987 az~d t.hereaf ~.er are redeemable at the option of the Town Council on December 1, 1986, and on interes~c payz~lerit. dates thereafter, i.n inversc~ xzuzr~erica]_ ordc:s: , upon pay)~lerzt of pax: and acc~_ued i.ntc:~~_est on~_y. 2. `1'hc prin..^..~_i:~~~:t. of an~{_ int:e,~o~>t: on ~tl_:L of said G~~ic~ra~_ Obligation Boncls, Series March 1, 1974, shalt. be payable in lawful money of the United States of America at Secur;_ty National Bank, Denver, Colorado, which is hereby designated the paying agent for this l~onci Issue. The net effective interest rate on Bonds of this issue is 6.11. Said Bands shall be general obli.gations~of the Town of Vail, and shall be payable from ad valorem taxes, except as they may actually be paid from other revenues as provided herein. 3. Said Bonds shall be executed in the name and on behalf of said Town with the facsimile signature of its Mayor, shall bear an impression of the seal of the Town, shall be attested by the manual signature of the Town Clerk of the Town, and each of said Bonds shall have attached thereto an appropriate number of interest coupons bearing the facsimile signature of the Mayor. Said coupons shall be lettered and shall be numbered consecutively from one upwards for each Bond as appropriate. When issued as aforesaid as part of said Bonds, said coupons shall be the lawful binding promises acid obligations of the 'l'awn according to their import securing the payment of the interest as it becomes due. -6- • . • . • ;11C)ii.]_C~ ;:::l:l~~ t»_ - ~.~,;;<'J: `s4'1"1G.'.~? I".?;'1"1tI;~.~. t!.1'.' {'.':".~:iL'i1.1~' f.:1f;s1.~''.t~rc'- ~:.:'])E'c~:L,:' c)r~ ~;ai~l ~_~~.<<,~; ~ ~ l.l.,~.~ 1llt.t~._~t`: ,. c.a~ap,~r~<, ~~'t.~ ~~rlr i~. t:hc__c_~t.o c:~_~~:z~,c, ~i:i-~ 1;'-C: E17.Cli U_:~;i.GC~I 1?C'.i_C:;:i:'L'_ C~IC_""..1.7.'~'t: ` 1' G:L tal:' L'•i.)11C~:-: i. t:) l12t' }:>U2"C11t7.SE?J_' Y,1?GJ.'6Ca:`: ~ SllGl'). IllC~.1tL7cL~. Ol" ~~~C:?.i.?'t ' ~_C:: :::!..:~ii~~a2".laJ"C;- ,11:. ~. 1_ I-!t'VC.'.?.:'~(:}7E'.LC F 4> ~~t:~ V~(~I.I C.~. c;,IIC~ Jt,~.~ I.. _l. (.: .)..C; i7.4 f. C:}_~~ C~. ~. . ~.. },Ul. }~t7 :'i [~:~. . ;ic1.:i_t~ ~GS~1C~S c,I'tii i:1iE? ].i"l~i::t ;:`C-.'Si:. C:~)1~~~.~, Cin~> ca'L~.c~:11C<'C~ t }-1('_1:'t~'C.G ~~}gall Ua in subsi.ant:ially Lh~ Gllowing form -7- • ~ • • C,C~,~J ~\i~1 J~ UA' .I`Ji C1J..J r.i The Tovm of. Vail, in the Gou.n.ty of_ Eag7.e and State of: Colorado, for value received, hereby acknovrl.edges itself indebted and promises i~o pay to the beam a" ]ze~a:c;oa fi:l7e prin;.i})a.l_ suln oi: FIVE THOUSAND DOLLARS in 1~<~ti=f.ul mon.c~~= o£ i.hc lTl_~t_e~. St~3'c~~~_~ of ~l:ter:ira, c-:,i t.}ae 1~.•t. c'.~:4>> ~.,.r Dorember, ].9 wi.•i~}~ :i.ntc:a~c.s ~ t~}lcyrr>c?~7. ., , :-n j:}1C~ d~_i_c~ herco F -i:~) t! f', ~"7aylnr:l"?.t C):'" ;;~;;.a CI }~ ;i.1~C1}"~~~1. .;'U.'~Tl c:?.~ CVl C?t ait`+:C.~ }J Z% ' ~C):tlt_' sLU G: i17-- terest coupons }Zere'co attached. a-l-_ the ra-~ca of **scaven per cc~n•i:uln (7%) per annum, payable December 1, 1974, and semiannually there- after on the 1_st day of June and the 1st day of Dec.c~mber_ of cash yeas.) ***(i.nte.r.est coupons designated "A" hereto attached, at the rate of ****five and five tenths per centum (5.5~) per annum, payable December 1, 1974, and semiannually thereafter on the 1st day of June and the 1st day of Decelber of each year, and additional interest as evidenced by supplemental interest coupons designated "B" at the rate of two and five tenths per centum (2.5~) per annum for the period from April 1, 1974, to April 1, 1984, said "B" coupon interest payable December 1, 1974, and semi- annually thereafter on the 1st day of June and the 1st day of December of each year, with the "B" coupon interest coming due on April 1, 1984 being payable on April 1, 1984]. Both principa]_ of and interest on this Bond are payable at Security National Bank, Denver, Colorado, upon presentation and surrender of said coupons and this Bond as they severally become due. Bonds of this issue maturing on or before December 1, 1986, are not redeemable prior to their respective maturity dates. Bonds of this issue maturing in the years 1987 and thereafter are -8- . ~ ~ ~ ~ ~ T'G)C~~. .^~~; Lf.~ ~..~ 'f_1, C?~`a~:LO?7 C~ ~~ t11C' `1~0'r... C . ..~.it;.'l ~. Ui'~ t_?C .111?''Y ~_ f I ~":lZ~ r •. .t.. ~, - -a', ~ . < ._ ~- r'fi~': • - ' t"' .., l c° s T C,.l., f Yi. 1', \; t ! ~ ; I .:1~.' Jll'!.T"if~7.' :1 .. C, G• C.L('.t_ , l !. J11 ~- ..' I, ... U1 ~ iw 4,.4 ~. ., itl ~\J. _i.l:l ~' .. •...+~. r.'A . . .J v .. .~ I i ..' <, i , .. t'1 . <... )11 ~, ~ 1 .('.' i-i 1...., . C.• ....~ - .. ~~~, J ~\2Y .1. , ~ .. t'~ t ~ ~7 i J ) ~~~ .. .f C7;P:,! C%.,. ~:c. ~..., CO ~.C>a.c:C~:! , CI T• :.~1.'}l.i.. 1.~ O:` ~~:. ? i~! .,.t_~';,:! C;':;.C. LljiL7i~ ~.~1~: C'. 'C.Ci: 'l. '~:~')E~.'_.'i'C) I_U].:" 'i.~lE_' 1:)'~il:'j"~c.lt:t'? U~~. ).)-'.[`'T7. d,~_?1~; .:t7IICi, l_C) Cry .'~:1ri.y :irl 1,a1c:':~(` or iI7 part t:lle cost of acc,uiring, col? • i.ruc1~~17.c~ and equipping a municipal public parking facility and site therefor together ~•aith C3.~..~.. ]'7 C,''C:`C`SS~ary 11"1 .'."-l_C.~.E`J'7tci1 caI7C~i ~1~)pilr~:f_'.I"?CAIlt fe1C;.~.l_:1 ~:7_C'_r , E`i:;l:'11ctUY.'E:r F2nd equipment, to provide f_a.c.ilities in the Town for vei7icle parking, ! `,' \/?_.2:'i::?RC'. O:% «?~C~ 3Ii full. C'. C.};1.i L>:i:1T1~'i-~' 1'J__.~:h li'C'• ~'.pT~^I::.:L'~:L::1-._i..Ol1 U:(~ i."c~ ~~~t.:.,'cc: of C:c,a o,.°ac~o , i.?~,.c~ hame xa::)_c: Cl"~.~.;~~t c_ ~ o:L t}?c~ 'a'o~,1,-1! of V~;:i-! , ~5 ).)% ,~~'.(.~~. ~.. ^i ~i , I~A.J~t.. _. _Lt: .;.~., ~,..O1_C~?~~ ... Cl ~.U\.'. ,.JCS. ~ c'.~'! ..t~C~ _i i _I.i ` t;; ~:1 ci.,i'_;!C1~': C ~ c:"~.c.i all other 1~,.~'as of the- S-i.~?t.E:' of Col_orac~o 'i:hc~r~-~unt:c", enabli_i7cj , and pursuant to an Ordinance of said Town duly adopted, published and mane a lava of said. Totim pr_io_r to the issuance of this Bond; and it is ileiLby r_cc;it~;d, ce~:-l,ified aild wari•anu.:d -t1lut ail L:~,rr x~:c~ui~c~ittc~Ils of law have been fully complied with by the proper officers of the Town of Vail in issuing this Bond. It is further hereby recited, certified and warranted that the total indebtedness of said Town, including that of this Bond, does not exceed any constitutional or statutory limita- tion of the State of Colorado and does not exceed any limitation of the Town of Vail Charter; that at a specia7_ election lawfully held in the Town on the 25th day of September, 1973, the issuance of this Bond was duly authorized by the qualified, registered electors of the Town voting at said election; and that provision has been made for the levy and collection of an annual tax on all the taxable property within the Town and the application of certain sales tax revenues of the Town sufficient to pay the interest on and the principal of this Bond as the same respectively become due . The full faith and credit of the Town of Vail, in the -9- ~ ~ ~ ~ :;{)U")i: V pf' ~~~'fl 7 ::, r '"t-,~; ~,'l r r ~ f`s"i' ~_~t3~ C' .~'"<";COQ , :1 ~:.~':~C1~~`;" , ~ C 1.C~~^C~ ~ ~ ~'~-,{': }rtt:~,~'"~_lUr;.c~- )' ."... ,,~~~ c;:f_ l.~t,i.. }~'.a.'~~1 j:i._~~ C)' c' ,.~'.. i.j.:. a.7).'i_C'. .>i: c`~1 t.i~.~ ~, ? _ .1(s ( _, ,: .. ,, r ' - _.!:. :'„' ~ ." ~ , .~,'~ 1". '. ,..,. 1: [;:' '.~ C'', ai t.. }; ta:':1. ~. ~ ~l::. '1'l!: 1. !._ ry l '~ 1. -~ '1 l 1.'"i~~(. .i.., 4-o1il. r1 ~~` J:~ .. (:f_ rs. t'~.1. ~. ~1 ,. ?:! ! .'4^ ! (..(i. ., .. r. ri_"1~,;. ClT3. .)~,._ <'.~ t. C1 J. tt.. vt~ ~~:t.:~'7l7 1"~.~ GR'). L. lr, _, , y i.. (' l C ~.+ i r_ '- f'f, ~r V' .r r.`.~','.. i:~;~, :~ii~' c rid; ~ C`(~-, t,.~a.+. ~~A Ctn. :I '.• ~'~:~ ~-:~ ~.~:'.1 ~)~ i~l` :it. <.~._~. of sa:i..d To~a~',, to h~ Uttested by the murlt:.~~l si,ria~L-ua_-c of t7.~ C1.erk thereof, and has caused the interest coupons attached hereto to be es;ecutec~ ~~, _th i:.Y~e fac:sinua.r~ sign~.tui: ~' of it.s P1f::yor_ , a7 1 ~~.s of the lst day of D4arch, 1974. ( S r A L ) };fir t ?.'~ ~:i :~ ia'j 1 ; (;:i ~;].-;~- . ,-~_-~-~: ) T~ttest (Manual Sa.gnature) . Tovm C'ler}: (End of Form of Band] -10- • ~ • . • -, , .,7~i . i;, i. ;r'. t. 1. ;.Ci 77w , ... ?..Ll. , ._. C,, Cli .. r +S~T~ .4 i', ;`. Cl?~:. i `~1~~, :~.il. l~ t _i,~ Jt:.i i ~ I C"t): ~'.~ :). ~~~5...~"!. ~. ..iii.. )~t:._. 7 i `._~C'. ;i.1~) ~;~:iC> !- ~~; a~i'itij ... C',~+. :' .'.:± '7i> c ter. :4 :. 7:: C. T1 .. ... :? .,'it'. _. ~ ~ ~ _ t::C=~ `, ~~' t 1~'~iC,.'l7;>a. s }~`ti.c. :1.. c",:"C~;t v,'i~ .: ~ . (~ ~ _ ~ ~ ~ . c.. .... ...., .. v .., ~_ Z ,.. _ . ... .. ~.. ...... ...._, .i. _ .._ .. _ ._ , . .. f ~ _... ,. i~). .a. r_~i).I)1? .:! ~.ii?";. ~1~ 111.1 i:. r'1^(.,'i ~~~?t. i_,. ~~/ ~), :' '~:,..L is ... r }~°~. J. J:. .. ; ~.:.~ ~ ,.t" .~,~ ii,~ ~ . _ .. ,~L r: .:?r. .i .~~,:, c:;J.:i c 1 t ili.i;?' r-.?` C;F_.1;'i-.1~ (:i <. ~) 1.:~;.~:.. r... i:~117.1.~i:,. ~. .J.l`111,C.~.i ':A4.:1!. ~f~.a.~(.;'.~ ! ' ~J... t..~`) .r ,1 ~~ , .f, Y1 C,:~.li:i~ '\. (=' f ".:._ ! i1'i ~'(,:,1: ~' r ~ .. . , . 1:.f!t' .L c'~`E` l) i l: J.y'r.. iii... .L .1 ~'(v t f i11_.~7`i ;-)C1a= (.... ~ '1.1111 *~'~h Bonds nuJnbez:ed '77 3 to l,10U, inclusive, will bc.~zr bot}-> "A" and "B" interest coupons. Thus, insert the information contained within the brackets in said Bonds numbered 773 to 1,:L00, only. **** Bonds numbered 90 9 to l,]_00, inclusive, bear interest on their "A" coupons at the rate of four and five tenths per cc~ntum (!! .. 5 ~) per anrnzm, and on. their "I~" coupons at t.lle ruts; o:~ ~',:rrc-c~ <<;.aci. ~_iv~~ -~ '.1;{_hs ]-~l~r c~~~.r.!--.,am (3.5`x;) ]?er aral~~uxrl. -11- • . • . ~ I:~oc~c•'.~hc.: C~:~. tlz(~~ a_t:i: c~ ~~~ Off. ~t.it:, .l.. , - _,_.,~ , ';~ `r>, ~, _,. i it:i_t, t. ~:, ... 2::' t7.i 4. ..;?''E:Ci, 1. ?:.( ,, '".IGC.)__., r .t.',. g l,i`" w. G~`._L~ e;; ~ rl~. it}.. :1 t?I' _ .. _ _ ,. a :~'.ft7)it)J"L'.. ;,:i! r ,.•... 1'tit',"s2 oa. ~a1_c., lIl tale'. t,(..~~.ll~'~.1~ C;i" J:.:a:j"I_C' d.I"1 t1 ,_~~..,.c..F' Ci:i= Colorado, will pay to bearer the amount shown hereon in lawful money of the Un.:i.ted Stai.es of America, at Security Plational Bank, Den~rer; Co]_or.ac~o, being interest then due on its General Obl:i:gation F3ond, Ser_i.es March 1, 1974, dated March 1, 1974, bearing 1~ o . (Facsimile Signature) Mayor `Town of Vail, Co~Lor_ado [End of Interest Coupon Form] -12- • . • . • t .; _ ,- t (' a'~' Lt. :"~' c! ~\' t.~:.. C ~ 1.,1~. r>].i t::~~.. C`a 1' 1~_` .,:'C .l-- ' - - _!'(.•) r .f. ~. _Ci,C_._ c._~~~{i C C'.~:.!. ~ C%.~ . !"~ ,.. , ~.,Ci.i..r+:~.. _; r ~)`, ~7i ~ ~ ~~ ,.. "l ..;L. f~~(>~.'~~! .l. ~.1 c""tf _ . ... . ....-.. ~~.- ~ ~. ~ t)L.. ( .'rt. ~;. t.. ~'~.~~~: n~. ~; f;;' l'F'C`):.l C'.. _~ ~~~.,~ f t~{iil „i:']. t.d ).JIB:. S:i ~;; ~. .. ~. l :.I!.., .i. ..1. 1~,.._. •~~~' :ii ~.._::.~., ~ .1.\%~; ~.'~.; for the purposes stat-:csd ller~i~1, provided, howc:vcx~, tl.at any port7.o~-1 of the Bond proceeds may be temporari7_y invested pending such use :in ~,e:c:urit:L~_ :.~ or ol_t:l.i.G~a ~.~..arl:-s \~l; ~_ch ar..c' J-<i\'1?rl_i~. :1.7."!V'C>;=~-L-~~ent. fo]: ~~1-te Town of Vail, with such temporary inves tment to be made consistent . . ~. ~ :7...._.. 1. ~(r?.~' ;. t.. T' h:" :~`%:L CIC~Ct \ .Lt..'.!. 1_, SC. Ct!•.C ...111c~_~ C`. pa)C;(~'.l:'i11liC~ c. .1. ja_t]:~.1(~C ., . .~:~~1`~. I.7c>S-c1ac:' t:ll~-: .~?7i?~r.~ v.~;~>r rf ~i:, ~.<.~. 13t:)r.,c.s n.c>:5~ ~L.Yac~ 11 r.~.c'e ~:" u:~ a.rl.y a~: t.~.~c:m y '~ :~.'.1; ._ ~ :,~ t. )l.i~~ \~~~Ci ~~ I:),.)., ~'>~_l l.~ J C)~~ 4, ~~. ~, r.- .~~1. _-lt'. i. ~,~/_. l''~ t.1~i C,~ i,)~ :.~~_.. ..: ~. ~_; of silicz P,orlc-~s by -t.l:1e '.C'a\an. or i~.r~y o.i i.t.s of ~_cc.r.;~ 6. If required, the interest and principal to become dt~tc~ on said Bonds in J.974 sha~.:l. be adv~:~nc:od fron-~ arty revenues oL .'`C.L1YlC1u Ol L1`!Er TU\~~r1 la4Y'fUily ciVe111db1~: L'11E~]-C'.J Oi° . E~v i.ll~; . 1,lA.i~U:il: of reimbursing any such advance and also for the purpose of paying the interest on and principal of said Bonds as the same become due and payable respectively, the Town Council of the Town of Vail shall annually fix and certify a rate of levy far ad valorem taxes to the Board of County Commissioners of Eagle County, Colorado, which taxes, in add~_tion to all other taxes, when levied on all of the taxable property in the Town, in each of the years 1974 to 1993, inclusive, will raise ad valorem tax revenues sufficient to make such reimbursement and to promptly meet and pay such Bond principal and interest payments as the same become due. Said taxes when collected shall be applied solely for the payment of the interest and principal of said Bonds, respectively, until the Bonds, both principal and interest, shall be fully paid, satisfied and discharged; provided, however, that nothing herein contained. shall be so construed as to prevent the Town from committing and applying any other funds or revenues that may now or hereafter , -13 - • • . • n 11,) ~'_} _ 'l~ ~~ r?,;1.'t. i CYs t ?~_ _!.l""'~Yr~3.'~, ila~t.. .i.4.'_{ .J.4 `~'~a.k i~~ .~ ~~>7° t- ~~ i°i`C~C:r' ~. C' ~ ,. -_ j>~ ,~ it ':.. ~ ._ t.ll~'. , ... l.l)i C.~_t.::~ C> ;') :?2.- ~ . ._ , ~ .L. C S' .. ~i`'C; _... , c.. ~~ _ <.,.:J'.{..!•~ii1. ( Yf (,.. ci:,~,r {)'_Z,,..1' .+l"~•:;a: ~ ~ - - ~:l'.'ll(. ,. b.:~Ci~ C.; .~ ,.. ~!e t~ J O.", ! '-'4"}~';; 1_CJZ < -., ~7 ':• .. .~ .,' '1.i. ,, .... ~ .. i' `t .: 7 i1 } ~ '.r .. ,. . ,. . ~_ . . r: r 7 . l:otwith.st~~ndine," the ~ cr~;c'a]_n ~~ i_~x~a~~ isions far ac3 valoa~c:rn tax levies, thc~ Town hereby further covenants and agrees that so long r7.S "~.he ~:iE?•r1Pri11 ni7]_JCfc~~:1a11 1'iOnC~l~, :'i~^T:':I.E'c~ 1~.2C`.1) lp ].~i7~, ~YO\T:I(1~`=:C for herein, remain outstanding and unpaid, it will levy, administer, cr.fc~a-c' . ~.nd ca..lcc+~ the: ~.]..c=.> ta... ~ r.; .~..r:'s_:.cc ~ ~',~ i c .f~ V~-.:k_ C_r.~ ~r~ r~c~, Na. 17., .c~G:_Y_"lE~£1 Ct 1973, tC) th!:.' cYit t"i~ Ui:' i~t:; r!1t~)1?.i;'i:. 71~")'~. {.O h:, 1.t 5:S t11C;I1 ~ f,, .!' .•._ ~ ~_ ~.. ., tit i. ~ -. ~- \ r -, 7 fC ± .(- '{ : ~: C, i. t;: ,.t. .> 7.C:CC?.~.j :, C?. _ , t-..Q 12°C~It 'i ~:, :ir'..! C' C:, i :.~~yc `'.~ , , ,, ;~~., ~ ~,-,-,,)).. (., ,., .. ~:y ~!.?7Cj. 'i_lle ftIlnlSli:i.ng of SC?rV1.CC'S 11C~'tC Oi" h.~.,,:;::C'~:.:~ i~C']_ fLtl:>jt'c:~. tC) :~a1.C~ sales tax. The Town of Vail has, by Ordinance No. l9, Series of 1973, pz~evi_ausl.y issued its Gonera]_ Obligat.i.on Bands, Series 1~lovember (1 '7 '> .t-1.. .~ ~i~ {- ~:' 1 /~ (,f fYi nln . ,,`~ rv~ ~ c'~ :~r-.ir.r 1, .l..i ~ .>, lia ~tt~.. p~raGipiul cnauvuntJ.._ ~y.~, liU~~ ~ ~~ t~ 1' 1 _.. 1....t .,_ fully outstanding. The Town has covenanted and agreed in said Ordinance No. 19, Series of 1973, to pledge and set aside all the sales tax revenues, derived from the above stated 20 of gross receipts authorized by said Ordinance No. 11, Series of 1973, to pay the interest on and the principal of said General Obligation Bonds, Series November 1, 1973. Ordinance No. 19, Series of 1973, provides further that said pledged sa]_es tax revenues may also be pledged and used for the payment of the debt service on any other or additional general obligation bonds of the Town of Vail which may be issued on a parity with said General Obligation Bonds, Series November 1, 1973. The Town of Vail covenants and agrees that a]_1 the sales tax revenues, derived from said 20 of said gross receipts as authorized in Town of Vail Ordinance No. 11, Series of 1973, shall be and hereby is irrevocably and solely pledged and set aside to pay the interest on and the principal of the subject General Obligation Bonds, Series March 1, 1974, as the same become due and -14 • • • . • ~.~_.!\~ L-,~ f` ~ J. ~. C.' ": i+:r~ ~.~!_~ ~~f., ,. .. ~. t`'.•.~:! ~~ }1-.._.11_ t' \'.;.~ ~~:1 'i ~i !r? ~i'!.- t ~_ (-r~)7 :1 (.; ~ ...~ - 7, r~l- ~.; ';; 1 ~ : C?Cir 'C~ ~ ! C 7 !. 'i` \ ~ .[C~ ;.. ~.>-it,~ ,r~ 11i ~'y' iE ~ ~ iz. i` J ~:._:, , .., .. , _... .. . : _. . . . , . . ' ~l'.i 1~,... '.,'~ :~;i>>: -G,~c. (yi.; i.. i)1_ 'i:?;-. (', ;);. `,'~'\' i,t:` :~... i:~ .'j' (:,?ice)! .... C;J:' _ .'t~~~ i.:~OJ;~'a. geI-icl_al obliga~i:_i.ozl bC),ac~;_ of -L-hc 7:'oam of Vu:i. :l. ~~rhicl~ mizy be is.~i::~c~ from time to time, provided such other or additional general obligation bori. i.. s?"aa1.1 }-)~ C??:i a parJ.. "t_~r VJ 1. ~.::}7. Ol" Si.?l~C~Y°C~:i., 1"~i1 "l:.C' tC) (j.)t;~ nOt pL:1.0Y' UI"' superior to) the General Obligation Bonds, Series March 1, 1974, - ~ .., « - - ~ 1"lC=. ..,c.[.. ~. L.n_r.. J:. [r r.. ,. t! :-,.. , he i ::.i J:1 1,.(-P. u ~-.:. ' C1.1~! ~. l.~>, r).'O t,.liC: C">!.!''t?l. t.)7ct~:. Jl'.~)!:'. C)i..}j-t :c. _, :I"VaCG: Cr1 c'.~..}. C?~` 'L-.}).? 1 • .. ' r ~ ~ 1 to t:Z.~E~I~ (:LnC_~.l'tCi:;..7:rC~ bl~.t IZC~t. l:Lm:Ltc:Ci tC7 t}"iC' 1:~~C'r:1Ci.' cal:!"~11JY: ~.ZC.`.d 11 T: t :1 T'1 ~ c I1Ci which are payable in whole or in part from the subject pledged sales ta?; reven.ues, i_s f_ula_y prov:i..ded far a.n an.y fisca]_ year by tax revenues 1 7 urld CJ4L1C:1 IIIC)1~1<::~'tii 1Gyul.l.~' a'v [:111U.1J11. l.itt_:.LI::J_U~ , t:1,c.~Yl Li,'~.: vt'v1I i:~ authorized to use any revenues remaining from the subject pledged sales tax revenues for other purposes (but only after all of the debt service on said general obligation bonds, which are so payable from said pledged sales tax revenues, has been fully provided for in said fiscal year), including, but not limited to, payment of special non-general obligation bonds, which special non-general obligation bonds in any event, however, shall not be on a. parity with and shall be subordinate and inferior to the General Obligation Bonds, Series March 1, 1974, with respect to the sales tax revenues herein pledged. So long as the General Obligation Bonds, Series March 1, 1974, remain outstanding and unpaid, the Town of Vail shall not repeal its Ordinance No. 11, Series of 1973, and the Town shall not amend said Ordinance in a manner which, taking into account other revenue of the Town which is legally dedicated and available to pay the principal and interest. payments on said Bonds, would -15- • • . ~ i. 1 ~~' '•?'.'.1" t:.k)i_ ..~ .;Yt., `Jr'~. ~'~`'' '(~.!!~' ''.` 1J ("7: ~l~i"~_i.. C'l_ d-(~ i .3(~:I'Ac:.l 1~.)`~. ., Cra • •, - ;> ., ~ ., C( .. '~J"~. `r.. k .I .. r.: 4,. t . . .~.(~' ., ~ I.4 .~."1 I ..i _:<' ... .. `"+.. . ., J 'C..1.J1 9.. I r. •~ $. The sl~5t)s horeilzl~ef_o:re prop=ici.ed to mr~~-t:. the 1_n~i-e'_r_ewt:. an said Bonds anal to discharge the principal thereof, when due, c;l:.C, _;r`?"l:l'?y al>~).~_:LC'C1 ~:~OY i:l)rJ.~.: pu:CpO-: E., c.l"ltk .~c':.1.i1 c~lllal"i?7'1:... 1..01" ec G17. year shall. be included in the annual budget and the appropriation C' . , t . . 'S:.C:C? C):" liU~.~'<~'.`.E:: :U lrF' c.CiC)l)i.CCi ial")f). 1?c ~~;_C:C_~ 1Jj~ ~:1...'', `.('O"':%1"1 ~~O't"i.ilGla_ . C:}.++_ .. ~. ..~ ,). .~!J C",) ~r< ...~. C...~~. ".'C`.r :1_ , i `) ~' ~ ., ) c.'i.`~ C1:~ i... 1., C' ( ):. a, :L1"1 i',?} i..:.',.'... .~. •.: C. .'.l. ~ .. ~ :.~:J .~_G_ (-,.~. _i_:.7i.. ~i t c:d..l ~ C ~. ..'J!._...: ~~"1C:. unp~.la~~< I~lo pr_orrisi_ons o:L ~.;ny coal;~ti..t.i~ti_an., st~.tu"~c,. c}l~ter, ordinance, resolution, or other order or measure enacted after t..hE' :1.,')t:)l?it11Ct:'. C>'(' l_L~C' 13C))1(~S }'~.E';~"ea?1 c^,.L~l"i0]"i_ZCI~' ~}J ii ]_1 7_n c:.T"J~r mal`Jt')~?)' .~ be roa~.strued as limiting or i.mpai rinc; the ob].igati.on of the To~~m to levy ad valorem taxes, without limitation of rate or amount, or as limiting or impairing the obligation of the Town to levy, administer, enforce and collect the sales tax as provided herein, for the payment of the principal of and interest on the Bonds herein authorized. It shall be the duty of the Town Council annually, at the time and in the manner provided by law for_ levying other taxes, if such action shall be necessary to effectuate the provisions of this Ordinance, to ratify and carry out the provisions hereof with reference to the levy and collection of the ad valorem and sales taxes herein specified, and that said Council shall require the officers of and for the said Town to levy, extend and collect said taxes in the manner provided by law for the purpose of providing funds for the payment of the principal of the Bonds authorized herein and the interest accruing thereon promptly as the same, respcctivel.y, become c]>.1e. Said taxes, tiahen collected, shall be kept for and applied only to the payment of the interest and p~°7.1"A c:_i.p~).1 o.f. solid I;onc7s ~s her.r'inbr'f:ore Cpr~~ci.fi.ed. -16- • • • . • ~« rl'~n~ ~~~r},. ~ 1'g:'Y.~, I~~,, x..; '~. !..1 4 i t ; .'i"~~. _ £~+r ~.~x~ ~ t , -, .. ! . :.'? i~.'"_° C'Ll"> 1i: Z: . ._, i r. ~ .. '.. ~.'}? i ~ ..'i t'.;1 `it 'i . !., E'c ~ i.'/ i LL C.,{'. ~.~.{< ~ ,.£.'.i .i'~"~ i . ~-~...it" t.._.. .. ~~~ i r; c. ~.~ ...!: .. .. .'i f~':-; :~'LZ~' _ c:;'i.~....:i. l>y Section 1. 1G3-. J.3 az~a,d Soct:i.on 1.103°-1~i of the roc~ulations p,~~apo:.~ed for such purpose by the United States Treasury Department or, after p:'rll'.u~21t::nt rC`gU.l.c t7.O71.S :L1~1.G1~'pYC,j::!.Ilg 5l:'C:~~"). ~'C~C~'`.~~ f''"C.'t ~.O:a1 r ]"C'_ l?1:C'T:Ti~.C1iIi:C'Cl, the corresponding provisions a:E such per)raanent regulations unless, .:. _ ,. _ ? .. ... i,r (.l ~_. ~_<+~;' l)('.~ C.ci I L C.: + l _.~ •, C` ~.-~ i~'. i ,- ~.C' ~.: .I 1. ~ .:~ .. .. ~~ _ LIIlCe£'.s~ ally ~rcS.J.'. )~1..£'ti.'~ c r •. t -- .._. }cl. f".Ct o': tl-).C' L~''- i t t 1 `-, ~ J i ~ ~ ~ _, „- •'a 7, ' .. ,. ,-~ r ~. (~ c; S; r 1' c:' • ,~ - [S~ F; ref.:!'-~ C-1i''... l...J'~~. r ~ ,", ,'.f_ t' !i" ~'' 'c; ~..1..~ l YG'.CjPird tO ~.'l7etllf:'r oY 77C)i. :S ,aC") }`~C)1:).GiE, ctr='C'. i:t:i:l:>:i.{~:;'%:+<",~: }?;;,?1iCi,;;, O.i' ~b~ shall be exempt from all income taxation. 10. All art..on herc'toforc~. tal;c~n by the Town of Va_1 a.nd a 1- .c r. ~ r. ff ~: rrr ~~1 .i. ~ _. ,_ ._ ..._ ~ .r. .L. l-. .. -; -t... 1-, 1 7 _ .-,a-.. .~ lJY ~..-1~C 1711.LUGL J Ul '4lI'~ 1GY\ll. (llt,~ l.. L~i'v iJl1/_L~ l_C.11 L 111=~J. ~.~.'l','..'_ l..ll ~ Ln .L14,.. 4~.-L: toward the authorization of bonds for the purpose of providing funds to defray in whole or in part the cost of acquiring, constructing and equipping a municipal public parking facility and site therefor, together with all necessary incidentals, be and ~i.he same is, hereby ratified, approved and confirmed, including, without limiting the generality of the foregoing, the acceptance of the proposal for the purchase of the Bonds authorized herein submitted by Boettcher and Company, Denver, Colorado. 11. Pursuant to the Uniform Facsimile Signature of Public Officials Act, Colorado Revised Statutes ~ 125-6-1 et seq., 1963, as amended, on October 18, 1973 there was filed with the Colorado Secretary of State a Facsimile Signature Certificate bearing the manual signature of John A. Dobson, the Mayor of the Town of Vail, certified by him under oath. Said filing is hereby ratified, con- firmed and approved for the purposes of issuing the subject General Obligation Bonds, Series March 1, 1974. -17- i. . • . • -1 „ .~ , a ~i ..'i. i`i.~.,.~ ~ .. i.i~?~(. .L._,i Ci :.; LC~.'I .t;~ .._. .- C;, ~~".L._,_ FiCs~'.!..!, .. _~. .. ., _, - . ... ~ '~ and. b. The e~:ecution of such certificates as may be r(C''i:i;llul~.~.~Y 1"C:C411:1.~"'(:'C~1 1>`•!~ t11C`. 1711]:l`'lli- ;-~'.:!" C7f '~.:11.C' ~_i0)Zd:; 1:'C`~..i:~,t":.I_J~CJ to the signing of the Bonds, the tenure and identity C,:_ "~1„-, `.!.`t7...~ f`~ ~ ~c..i.r:;!::•, ~.l.i~~~ G., ~;F', "'Ci V~a_1} ~,.:i.C..1.). x;17(' :i)~~.~.:1.,~C~Ci°_ J1C:';;.- Chi: ~.)"7C~ iJ~C;>~;7Z). ~ YC'C~Ct :;.]~~_. OJ t~~'1C, !-;CIpC~ ~- .,~(.;l:r':~C;` 17a":!_C1C`., %I~C~ ~ pC'3')..` )_?.AC3 oi. C.l"1.1"'C d I"k'I-1C~C,~ j c1f':~.f:C,t.:LnCj i:.iiC~ Vci1 f' ~ I C2.I_"(!Y C7:L 1. "J i.: a~Q?"1C ~: j and c. The making of various st:at~.ements, _r_ecital_~, Gt:ti..:ti1CCAl.•J_OSl.iJ ~~•iiu Gv'iia:i:ail'Vic;, ~1v\~1dE'_'~. :iii 'i:.lie iCii:Tu Ci~ Bond set forth in this Ordinance. 13. There is hereby appropriated and set aside from any available funds or revenues of the Town of Vail t1zF: amount or amounts necessary to pay all costs and expenses incident to the issuance of said General Obligation Bonds, Series I~lar.ch 1, 1974, in- cluding, but not being limited to, any publication, legal, en- • gineering and fiscal agent costs and expenses. 14. All ordinances, acts, orders, resolutions, or parts thereof, taken by the Town of Vail and in conflict with this Ordinance are hereby repealed. 15. This Ordinance is, and shall constitute, a legis- lative measure of the Town of Vail, and after the Bonds hereby authorized are issued, sold, and are outstanding, this Ordinance shall constitute a contract between the Town and the holder or holders of said Bonds, and shall be and remain irrepealable unti_1 said Bonds and the in- terest accruing thereon shall have been fully paid, satisfied and di.scharq-ed. -18- • . • i .lE . '1`hc } ~.:o}-~c~r o ~:icc:i,, c~ ~Lho '_~"o~az~i oL Virti.l, Col.or~~.do, ~tirn }~. ,°eby au1:J-,e~z-:i.r,rc~ ,;nd d.i r~~.c•i~ed ~ c, r>ity o:~- ciitl:;r; to }>~ pa~_c~ t}lc a_lt~'.;~NSi: On t}1E`. IiU;1C.t;s` }lcrc~ln cult}"1C)l:l_'.(.~d ~l t}1(' :ii:llllk`:r sl.lial~. aC:C]' L1C: , alid ~i~I1G; pl'ixlc;i}?i.~l. of said F3ollds at ~c~at-ul_-i'. ~zr, ~•~:i.t.hout Lurther warr<a.l~it oa~~ o]:czr~~l^. 17. T:~ a.ny Pa~.~~.~grap}.~, c;lause or }~~roviCiolz of this O~:dinance is judicially adjudged invalid or un.entorreabJ_e, such judgment shall not affect, impair or invalidate the remaining paragraphs, clauses or pr_o~=~_>i.ons hereof, the intention be:irlg that the various paragr..apl~s, clauses or provisions hereof are severable:. 18. A }?ixb.lic hearing on th5_s pro}_)usrcl Ordinance shall be helU. b~J the Taval°~ Counci.l ~~t 7:3U p.nl. on Tue.~day, March 5, 1974, at tll.e~ ri'o~~,~r~ of Vail I:~urlic:ipal Build.inc~, Vail, Colorado, anal it is hereb~r ordered t}li:~t notice of said hear_ ing be given as required by law. INTRO%)UCF~D, Rf'Ei.D, Ak'PROVED AND ORDEI;T;D PUB7aISIiED TIiIS ~~ LAY ULa' ~',Q,~}~,(,lQ/`u~ 19.74. D ( S Fl:L ) Attest: __~ ~''til.C.~ 's'own Cl TOWN OF ATL By Mayor INTRODUCED, READ, ADOPTED AND ORDERED PUBLISHED THIS DAY OF __`1!L~jZ'S~-~ , 1974. isEAL) Attcs~L Town Cle / TOWN OF VAIL i ~ > ~_ B ,~ '~'~" Y /~; Mayor -- l 9 • f • • ./~~_7~~ `,icon;?~..,,; "kl~{~: r~ic>t:ie?_1, ~.nc~. t:.).e_~ ~.L)nc,~.IOJI l :;:~J)tr, L:~~t)17, t".1;C. Z}~F:a:."C)\%~;_L orz i.: J..~.,.:1- 7"a.:~.~t ;r'ca OED Sc?.:LCI (~)J~(~:i ? -._1CL, tizc ro:'.i taar cal7_~~a efitll ~;;r, fol;!c)~~.i.zatl z:c~:~u7.i-r ~~~ .~.„ , CoU'i).C7~i_~r'R[:"il: JOl'1'i 1.`C?i~:S1.17 T:atla ~..C;'er"1 lalli;~ Johil L~novan Josef Staufer Thomas Steinberg Al.lx~rt: 1°yhite /~ON~- Those vot:ti)~.g "Nc~`° o ~~~ mernl~c^r_s of the Council present having voted i . in favor of the approval on first reading of the Ordinance, the presiding officer ther.eupozl decl~-~z-ed the Ordinance du7_y approved ,. , Gll TlY'".~ 1'i::ciU:111(~ i:illd dll@C: ~.C':i.i tllcll.. l.ii~: litl.l:Lliui:..:~ 1J~: jJUI./11., i~,~.. ~...~:~: in ful7_ in The Vail Trail, a 1ega1 newspaper of general circulation within the Town of Vail, on February 22, 1974. Thereupon, after consideration of other•business to come before the Council, the meeting was adjourned. Mayor Town of Vail, Colorado -20- (S L' ~ L) P.TTEST ~i Town C le G~ Town of Vail, Colorado • • • , ~ (( (( / 1/ ~17)j~, Ml.~i.~~l:)~~, ~ .' 't J.. 1 ri~ 1 7' _ .. ~ i r .~__. Oj' t..~.. I t>~ ). C. ., is .1 J ~;l ' .. J~i.lC..~C1, i:'. t. ?= t.'f I .c 7.' < .. :,_ c..i° .l. t.PC: 1'1~~ 1._!'a.~Ji:~ ~ ,..__l! .t.:i"y~. _ z). .,. .. l.L.~ ~.:~o „11 Oll ~' <":~i .) t . ; / ,. t:h(:` ~>t~"i Czcs1 i~:i.' r~~ct?"G'~"1, .~_~i i ~: ~ cit. 'L)i i70"l~:i:' C_ta.. ~ C~ ` C;1C)C:}; p )'%< Upon roll call. the following were present: 1~layar : John Dobson Councilmen: Kathleen Iilug John Donovan Albert .Wlii.tc -- ea(,,. Ab ~; can t. < Thereupon the following proceedings, among others, were had and taken: The Mayor informed the Council that Ordinance No. ,..,~ , Series of 1974, relating to the issuance of General Obligation Bonds, Series March 1, 1974, in the principal amount of $5,500,000, which was introduced, read in full for the first time and ordered published at a regular meeting of the Town Council held on February 19, 1974, was duly published in full in The Vail Trail, a newspaper of general circulation in the Town of Vail, in its issue dated February 22, 1974, and that the publisher's affidavit of said publi- cation is now on file in the office of the Town Clerk. Copies of the Ordinance were made available to the Council and to the public. Councilman ~ then read the Ordinance by its M title. Tre pre.sidinc; officer then decl~-~red that this was the -21- • , • . • i j, r, C. y-~' i '~ C. 1'.i r ?.. c'}~~t. .`~. f~C, .._ c' 1~+. ':1~1 ~i_ r'. ~ .C`y .i.). 1'3. ~.-.. _~ (.}_~'.( ._I1 ,:.11 ~:~ ''f i,. ~..i:~. 'i 1. '~. •.. Y,:})F-: i. C?~,) ~.~.!E. it a ;~ f .~.` ~.~ ." ., (,.~'j.'"1'C. .. "`-"•^" ? 1 all. )~I"'°O:`).S 1?c1~% .i?'' )!~^CT1 C t ~."'i',l c`.)'1 O 7'j ~ :i'~;17? i_-i:`S' 'l.~) :'•}7 C'.~it~~~ C i"},!(' 11Ci>u1:'a))'~F ~`:%t3:i G. , C.~..i ._ .`'~;~ C.`~,.1'~' .,. . 7'hc~ +: c~).~}x~r) , Ccuncil}n~..Tl ~l'70..(,a~l final approval and adoption of Ordinance IQo, Counr..i.].)r~,:.r) seconded ~:l~e mot::io):), upon tlic:; iir~al aNpr vul aria auC~L:1~i.Gi.t u~ :'.aic was called with the following result: Those voi:ing "Yes" Councilmen: Those voting "No": John Dobson 1.71t:L'"1~:.%'I..zr_:ed ~.)"1'::~ JTtr~>E'r~t 11::110 3 , Series of 1974. ~an:~ ~.1~1~: q1).c._~~ :i.on l.~eia~q Q 1_ (.~ 11.1 u.11. V l:, , 1.11 L J_ .i .. 1 Kathleen Klug John Donovan Joseph Langmaid Josef Staufer Thomas Steinberg Albert White -G~ ~~~ J~~ members of the Council present having voted in favor of the final approval and adoption of Ordinance No. ,3 , Series of 1974, the presiding officer. thereupon declared said Ordinance finally approved and duly adopted and directed that -. ..~2., ~ , • . • ~~)~: ~+" .. .i., i c,: l Vi`i' ... .l. _ -" ~ ...~i !~!~7C 7.. J~i r .~J~. l (:riY,. _ i C-'7 O:i- Ci ,. ~'i.l` l?iC.• .`' ~ ~, , 1t:. 1:;{_f C~:, '~f,r~ ~ ( i;, .:i i r i }~~: i;; i:.~_11t1 l < ';i')C~11?"3"'. .. 1 E~ ,~, ~iayor- / /Town of_ Vail , Colorado (S E ~. L) i n--+rrr~ e ry Z`own c7~ Vail, Co:l.ox:•- ao -23- • . ^, •~ (', (~ ~ ; Iii. .. ~_ ._ `~I'_~,.l..L~ ~ • ~ • ~ , . _.'t.. ~: . ... i ~..,J _, .. :i .fir .~~_ ~ ..... ~ l .. .._ I ~''~~ i ~~~1`;i, ,i t. r~~~ i • i • ~'J.'i:'.L'J; OJ." COJ:~UJ~111")7 x, ~~~?~(.C~G ,~" i:he '.i'o~•;n C'."~._ ~:k of t:he Town of- Vaal, l:actlc~ County, CoJ.orado, da }Ierc~by rert3_i~y thrlt the attached copy of Ordin.:uzce Na. ~ Scr7_es of 1974. regurdi.ng issiiancc of ~`~ To~•,~IZ of Vail General Ob1ac}ation fiends, Series March 1, 1974, 'in the principal amount of $5,500,000 i_s a true and correct copy of said Ordinance as appro~~ed and adopted on first and second readings by the Town Council at I:egul_ar Moeta_ngs thereof, held at the Town Municipal Building, the regular meeting place of the Town Council in the To~•;n, an Tuesday, the l9th day o£ rebru«ry, 1974, and 'Tuesday, the 5th day of March, 19'74; that a true copy of said Ordinance has been duly e}.ecutcd and authenticated by the signatures of the Mayor of the Tom of Vail and myself, as Town Clerk of said TO~~I1, sealed with the seal of the To~•m, nwnbered and recorded in the ofl:iri.a'1. r_ecor~Js of the Town. kept for that purpose in my office, and authenticated by the certificates of publication attached to the foregoing proceedings. I :Further certify that the faregoing pages constitute a true and correct • copy of the record of the proceedings of the Toem Council at its regular meetings of February 19, 1974, and March 5, 1974, insofar as said proceedings relate to said Ordinance; that said proceedings were duly had and to}cen; that the meetings were duly held; and t11at the persons were present at said meetings as therein shown, i~ IN lti':1TI~ESS WHEREOF, I have hereunto set my hand and ~~~ the seal of. the Town of Vail, Colorado, this ~~~~~day of G~~~~/L- ~"" - , 1974. / 'Taa;n C L ~/~ / Town of Vail,~Colora~Io (S r n I,) <w ~ r ~ • CERTIFICATE OF D I SF'OS I T I ON OF ORDINANCE IT I`S NEREF3Y CERTI FIED purusant to the Charter of the Town of Vail, Colorado, Article IV, Section 4,14, that Or- dinance tJo. ~ Series of 1974, to the original of which this certificate is affixed, was duly adopted on second reading by the Town Council at its regular meefiing on the ~ ~~~' day of ~~"l/ , 1974, its adoption was autheni-i Gated . 1 by the signitures of the Mayor and the Town Clerk, and said ordinance was duly published in full after said adoption in The Vail Trail newspaper ,on the ~ day of ~ , a 1974, as indicated by the certificate of publication of said newspaper arhich is attached i~o the original of said ordinance, and accordingly on the date hereof said ordinance was duly re- corded in the official records of ordinances of -the Town of Vail, Colorado. f/~,f~~ DATED : Va i I , Co I orado, this 1"1 ~" day of j , 1974. •- ~~~~ r Town ~' I .e°~