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1977-31 To Contract and Indebtedness on Behalf of the Town of Vail By Issuing General Obligation Bonds of Said Town For the Purpose of Defraying the Cost of Providing and Ice Skating Arena/Multi Purpose Facility
.~~ ~- ~ ORDINANCE NO. /~'~ SERIES c~~' 1977 AN ORDINANCE TO CONTRACT AN INDEBTEDNESS ON BEHALF OF THE TOWN OF VAIL, COLQRADO, AND UPON THE CREDIT THEREOF, BY ISSUING GENERAL OBLIGATION BONDS OF SAID TOWN TN THE PRINCIPAL AMOCJNT OF $2,350,000 FOR THE PURPOSE OF DEFRAYING, IN WHOLE OR IN PART, THE COST OF PROVIDING AN ICE SKATING ARENA/MULTI-PURP05E IACILITY, AND OF' SO DEFRAYING ~'HE GOST OF ACQUIRING A SITE ~'OR A PUBLIC WORKS MAINTENANCE FACILITY, AND OF SO DEFRAYING THE COST OF ACQUIRING REAL PROPERTY TO BE USED AS OPEN SPACE AND/OR RECREATION AND PARK"LAND; PRE- SCRIBING THE FORM OF' SAID BONDS; AND PROVIDING FOR THE LEVY OF TAXES AND FOR THE APFLICATTON OF SALES TAX REVENUES OF THE TOWN OF VAIL TO PAY SAID BONDS AND THE INTEREST THEREON. WHEREAS, at a special election of the qualified, registered electors of the Tawn of Vail, Colorado, duly called and held on Tuesday, the nth day of October, 1977, in accordance with law and pursuant to~due notice, the~'e were submitted to said electors the following questions: 1. Tce Skating Arena/Mufti-purpose Facility Bonds, Question Submitted: "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 not to exceed $1,800,000, ar so much thereof as may be necessary, for the purpose of defraying, in. whole or in part, the-cost of acquiring, constructing, installing and equipping an enclosed ice skating arena"and multi--purpose facility suitable for conventions, con- certs, exhibitions and trade shows, together with all necessary incidental and appurtenant properties, structures, facilities and costs, such bands to"bear interest at a maximum net effective interest rate nat exceeding i0 percent per annum, and to mature serially during a period of not more .than 30 years from the date or respective dates of the bonds, such bonds to be payable from general ad valorem taxes and other funds 1ega11y available - therefor, and such bonds to be~sold and issued at one time ar from time to time, in such manner and amounts and upon such terms and conditions as the Town Council may later determine, including provisions for the redemption of bonds prior to maturity upon payment of a premium not exceeding 3 percent of the principal thereof?" 2." Public Works Maintenance Facility Site Acquisition Bonds, Question Submitted: "Shall the Tawn of Vail, Colorado, be authorized to issue its negotiable, interest bear"ing general obligation bonds in one series pr more in an aggregate principal amount not to exceed $350,000, or sa much thereof as may be necessary, for the purpose of defraying, in whole ar in part, the cost of acquiring a parcel of real property, known as the Pulis property to be used as a site for a proposed public works maintenance facility, together wS.th all necessary incidental and appurtenant properties, facili- ties, and costs, such bonds to bear"interest at a maximum net effective interest rate not exceeding 10 percent per annum, and to mature~_~erially during a period of not more than 30 years from the date or respective dates of the bonds,' such bonds to be payable from general ad valorem taxes and other funds legally -2- .; ,~* available therefor, and such bonds time or from time to time, in such Such terms and conditions as thr T. mine, including provisions for the maturity upon payment of a premium principal thereof'?" to be sold manner and awn Council redemption not exceed and issued at one amounts and upon may later dete r of bonds prior to ing 3 percent of the 3. Open Space Acquisition Bonds, Question Submitted: "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 not to exceed $200,000, or so much thereof as may be necessary, for the purpose of defraying, in whole or in part, the cost of acquiring a parcel of real property, known as King Arthur's Court, to be used as open space and/or recreation and park land, together with all necessary incidental and appurtenant properties and facilities, and the casts incidental thereto, such bond to bear interest at a maximum net effective interest rate not exceeding l0 percent per annum, and to mature serially during a period of not more than 30 years from the date or respective dates of the bonds, such bonds to be payable from general ad valorem taxes and other funds legally available therefox, and such bonds to be sold and issued at one time or from time to time, in such manner and amounts and upon such terms and conditions. as the Town Council may 1ate~ determine, including provisions for. the redemption of bands prior to maturity upon payment of a premium not exceeding 3 percent of the principal thereof?" . and WHEREAS, as evidenced by the canvass of the. returns of said election, more than a majority of said electors voting on each of said questions voted in favor of issuing such bonds; and WHEREAS, the Town Council of the Town of Vail has determined, and does hereby determine, to issue at this time general obligation bonds for the purposes authorized by said electors at said election, in a total principal amount of $2,350,000 ("the Bonds"),'as hereinafter set forth in this Ordinance; and WHEREAS, a proposal for the purchase of the Bands has been received from Kirchner, Moore & Co., Denver, Colorado E"the Purchaser"}, upon terms favorable to the Town, which the Tawn Council of the Town of Vail. has duly determined to, and hereby does, accept; and WHEREAS, purs.ua~nt ~o Ordinance.No. 11, Series of 1973, of the Town of Vail; there was submitted to 'the.qualifcied, registered electors of the Town o~ ~ai1;.a.t~a special election held an the 25th day~of September.,'~1973, the question of the imposition of a sales tax on the sale'of' tangible personal. property at retail and the furnishing -. 'of services with~.n the Town of Vail; and ~~~ WHEREAS, as evidenced by the canvass of the returns of said -elecf.zon, more than a majority of said electofs voting on said sales ,tax, question voted in favor of imposing said sales tax; and _3_ ~* ~ y~I-IEREAS, the Town Council of the Town of Vail has estimated and determined, and~does hereby estimate and determine, that the principal maturing and the interest accruing on said $2,350,000, the principal amount of the Bonds of the issue authorized herein, can be met from revenues derived from sources other than general ad valorem property taxes, including, without limitation, the revenues to be derived from the sales tax authorized by said Ordinance No. 11, Series of 1973, and approved by the aforesaid electors eating at the aforesaid election; and WHEREAS, the Town Council of the Tawn of Vail has determined, and does hereby determine, that it is necessary and in the. best interests of the Town of Vail and the inhabitants thereof that the Bonds in the total principal amount of $2,350,000 be now issued in accordance with the provisions of this Ord~.nance. NOW, THEREFORE, BE .IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VATL, COLORADO, THAT: 1. On October 18, 19.77, the Town Council. duly adopted its Reso- lotion authorizing Notice of Sale of the subject Bonds. The form of "Notice of Bond Sale" and the form of "Official Notice of Band Sale" stated that the coupon interest an the Bonds should not exceed 8o per annum, and that it was anticipated that delivery of the Bonds would be made on or about December 23, 1977. Said forms were revised prior to their publication to -state that the maximum net effective interest rate for the Bonds shall not exceed 8o per annum, and that it is anticipated that delivery of the Bands will be made an or about ~'anuary 23, 1978. Said revisions are hereby ratified, approved and confirmed. 2. Pursuant to the authorization conferred by the qualified, registered electors of the Town of Vail at a special election duly called and held on October 4, 1977, and for the purpose of defraying, in whole or in part, the cost of: (a) providing an enclosed ice skating arena and multi-purpose facility suitable for conventions, concerts, exhibitions and trade shows, and (b) acquiring a parcel of real property known as the Pu1is property to be used as a site for a proposed public works maintenance tacility, and (c) acquiring a parcel of real property, known as King Arthur's Court, to be used as open space and/or recreation and park land; together with all necessary -- 4 -- ., ~* ~ ~ incidental and appurtenant properties and facilities, and the costs incidental thereto, the Town of Vail shall issue on behalf of said . Town and upon the credit thereof its negotiable coupon General Obli- gation Bonds, Series December 1, 1977, in the aggregate principal amount of $2,,350,000, dated December 1, 1977, consisting of 470 bonds in the denomination of $5,OOO.each, numbered 1 to 470, inclusive, payable in lawful money of the United States of America. Said Bonds shall bear interest as evidenced by two sets of bearer interest coupons, as herein set forth, one of said sets being designated "A", and the other such set being designated "B". The subject Bonds shall matuxe serially in regular numerical order on December 1 of each year, and shall bear per annum "A" coupon interest from December 1, 1977, to the matura.ty date of each Bond, except if redeemed prior thereto, as indicated in the fallowing table. Said "A" coupon interest shall be payable December ~., 1978, aDd semi- annually thereafter on the lst day of June~and the lst day of December of each year. If upon presentation at maturity payment of the prin- cipal amount of any Bond is not made as provided herein, interest shall continue at the "A" coupon .rate stated therein until payment of said principal amount is made in fu11. Zn addition, all Bonds shall bear per annum "B" coupon interest-for the period from March 1, 1978 to December 1, 1979 only, as .indicated in the following table, Said "B" coupon interest shall be payable December 1, 1.978, June 1, 1979, and December 1, 1979. Per Annum Bonds Numbered Principal Amount Coupon Rate* (both inclusive) Maturity ~ Maturing A B. 1 to 7 ~ 1979 $ 35,000 6.5~ ~ 1.50 8 to 16 ~ ~ 1980 45,000 6.5 ~ 1.5 17 to 27 1.981 ~ ~ 55,000' 6.5 1.5 28 to 40 1982 65,000' 6.5 1.5 41 to 55 1983 '75,000 ~ 6'.5 1.5 56 to 72 1984 85,000 .6.5 1.5 73 to 91 1985 ~ 95,000 6.5 1.5 92 to 7.11 1986 1.00, 000 6. 5 1. 5 112 to 133 1987 110,000 5.0 3.0 134 ~to 157 1988 120,000 5:1 2.9 158 to 183 1989 130,000 5.2 2.8 . 184 to 211 1990 140.000 5.3 2.7 212 to 242 ~ 1991 1.55;000 5.4 2.6 243 to 275 1992 165,000 5.5 2.5 276 to 310 1993 1.75,000 5.5 2.5 331 to 347 1994 - 185,000 5.6 2..4 348 to 386 1995 195,000 5.6 2.4 387 to 427 1996 205,000 5.7 2.3 428 to 470 .1997 215,000 5.7 2.3 *Payable for the period from March 1, 1978 to December 1, 1979, only. ,_ ~* ~ Bonds of this issue numbered 1 through 133, inclusive, maturing on or before December 1, 1987, are nat redeemable prior to their respective maturity dates. Bands of this issue numbered 134 thraugh X70, inclusive, maturincj~on December 1, 1988, and thereafter, are redeemable at the option of the Town Council on December 1, 1987., and on any interest payment date thereafter, in inverse numerical order, at a price equal to the principal amount of each Bond so redeemed, plus accrued interest thereon to the redemption date, plus a premium vf. three per centum {30) of the principal. amount of each Band sb redeemed; Notice of any redemption shall be given by the Town Clerk in the name of the Town of Vail, by publication of such notice at least one {1) time by one (1) publication, such publication being not less than thirty (30) days prior to the redemption date specified in such notice, in The Vail Trail, Vail, Colorado, if then in business and publishing, and if not, then in a newspaper of general circulation i:n the Town of Vail, and by sending a copy of such notice by certified or x'egistered first-class, postage prepaid mail,. at least thirty (30} days prior to the redemption date, to the holders of each of the Bands being redeemed, if the names and addresses of such holders are recorded with the Town Clerk. For this purpose, the holder of any such Bond may at any time furnish his name and address to the Town Clerk. Such notice shall y specify the number or numbers of the Bonds so to be redeemed and the date fixed f.or redemption, and shall further state that on the redemp- tion date there will become and wi11 be due and payable upon each Bond so to be redeemed the principal amount thereof plus accrued interest on said principal amount to the redemption date, and~that from and after such date interest will cease to accrue. Any Bonds redeemed prior tv their respective maturities, by cal]. for prior redemption or otherwise shall not be reissued and shall be cancelled the same as Bands. paid at or after maturity. 3. The principal of, interest on, and any premiums due in con- nection with the redemption of the Bonds shall be payable in lawful money of the United States of America without deduction for exchange ar collection charges at American National Bank, Denver, Colorado,- which is hereby designated the paying agent for this bond issue. -5- r ~r ,. l The net effective interest rate on ~3ands of this issue is 5.5967860. The Bonds shall be general obligations of the Town of Vail, and shall. be payable from general ad valorem taxes without limitation as to rate or amount, except as they may actually be paid from other revenues as provided herein. 4. Said Bonds shall be executed in the name and on behalf of said Town with the facsimile signature of its '.Mayor, shall bear a facsimile 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 numbered consecutively from one upwards for each Band as appropriate. When issued as aforesaid as part of said Bonds, said coupons shall be the lawful binding promises and obligations of the Town according to their import, securing the payment of interest as it becomes due. Should any officer whose manual or facsimile signature appears on said Fonds or the interest coupons attached thereto cease to be such officer before delivery of the Bonds .to the Purchaser, such manual ar facsimile signature shall nevertheless be.valid and sufficient for all purposes. 5. Said Bonds and the interest coupons attached thereta shall y be in substantially the following form; -7- ~« ~ ~ Form of Bond] STATE OF COLORADO UNITED STATES OF AMERICA COUNTY OF EAGLE TOWN OF VAIL GENERAL OBLIGATION BOND, SERIES DECEMBER 1, 1977 No. X5,000 The Town of Vail, in the County of Eagle and State of Colorado, for value received, hereby acknowledges itself indebted and promises to pay to the bearer hereof the principal sum of FIVE TIIOUSAND DOLLARS in~lawful money of the United States of America, on the lst day of December, 19^, with interest thereon from the date hereof to the maturity da;~e of this Bond, except if redeemed prior thereto, as evidenced by one, set of bearer interest coupons designated "A" hereto attached at the rate of per centum (_ ~%} per annum, payable December 1, 1978, and semiannually thereafter on the 1st day of ~7une and the lst day~of December of each year, and additional interest, for the period from March 1, 1978 to December 1, 1979 only, as evidenced by a second set of bearer interest. coupons designated "B" hereto attached at the rate of per centum ( ~) per annum, payable December 1, 1978, June 1, 1979, and December 1, 1979. The principal of, interest on; and any premiums due in connection with the redemption of this Bond are payable without deduction for exchange or collection charges at American National .Bank, Denver, Colorado, upon presentation and surrender of said coupans~ and this Band as, they severally become due. If upon presentation at maturity payment of the principal amount of this Bond is not made, interest shall continue at the "A" coupon rate stated herein until. .payment of sand principal amount is made in full. • Bands of this issue maturing on ar before December 1, 1987, are not redeemable prior to their respective maturity dates. Bonds bf this issue maturing in the year 19$8 and thereafter are redeemable at the option of the Tawn Council on December 1, 1987, and on interest payment dates thereafter, in inverse numerical order, at a price equal to the principal amount of each Bond so redeemed plus, accrued interest thereon to the redemption date, plus a premium of three per centum (3~} of the principal amount of each Bond so redeemed. ~8~ ~* ~+ !~ Redemption shall be made upon not less than thirty (30) days' prior notice by publication of such notice at least one (1} time by ane (1) publication, such publication being not less than thirty (30} days prior to the redemption date specified in such notice, in The Vail Trail, Vail, Colorado, if then in business and publishing, and if not, then in a newspaper of general circulation in the Town of Vail, Colorado, and by sending a copy of such notice by certified or regis- tered first class, postage prepaid mail, at least thirty (30) days prior to the redemption date, to the holders of .each of the Bonds being redeemed, if 'the names and addresses of such. holders are re~ corded with the Town .Clerk. For this purpose, the holder of any such Bond may at any time furnish his .name and address to the Town Clerk. Such notice shall specify the number or numbers.of the Bonds so to be redeemed and the date fixed for redemption, and shall further state that on the redemption date there will become and will be due and payable upon each Bond so to be redeemed. the principal amount thereof plus accrued interest on said principal amount, and that from and after such date interest will cease to. accrue, This Bond is one of a series.issited by the Town Council of the Town of Vail, Colorado, on behalf of said Town and upon the credit thereof fox' the purpose of providing funds to defray, in whole or in part, the cast of providing an ice skating arena and multi-purpose facility, of acquiring real property to be used for a public works maintenance facility, and of acquiring real property to be used a~ open space and/or recreation and park land, together with all neces-- sary~incidental and appurtenant properties and facilities; and the costs incidental thereto, by virtue of and in full conformity with the Constitution of~the State of Colorado, the Town of Vail Charter, and all other laws of the State of Colorado thereunto enabling, and pursuant to an Ordinance of said Town duly adopted, published and made a law of said Town prior to the issuance of this Bond; and it is hereby recited, certified and warranted that all the requirements of law have been fully complied with by the proper officers of the Town of Vail. in issuing this Band. ~ ~ • Tt is further hereby recited, certified and. warranted that the total, indebtedness of said Town, including that of this Bond, does not --9- r+ ~' !~ exceed any constitutional or statutory limitation of the State of Colorado and does not exceed any limitation of the Town of Vail Charter; that at a special election lawfully held in the Town on the 4th day of October, 1977, the issuance of this Band 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 a direct annual tax on all the taxable property within the Town without limitation as to rate or amount and for the application of ' certain sales tax revenues of the Town, sufficient to pay the interest on and the principal of this Band as the same respectively become due. The full faith and credit of the Town of Vail, in the County of Eagle and State of Colorado, is hereby pledged for the punctual payment of the principal of and the interest on this Bond. IN TESTIMONY WHEREOF, the Town Council of the Tawn of Vazl, Colorado, has caused this Bond to be executed in the name and on behalf of said Tawn with the facsimile signature of the Mayor of said Town, to be sealed wa.th a facsimile of the seal of said Town, to be attested by the manual signature of the Town Clerk of. said Town, and has caused the interest coupons attached hereto to be executed with. the facsimile signature of the Mayor of said Tawn, all as of the lst day of December, 197.7, TOW1`d OF VAl L , COLORADO / By (Facsimile Signature} Mayor (FACSZMxLE} ( SEAL ) Attests (Manual Signature.) Town Clerk [End of Form of Bond] -~10- . ,~r ~ ~ ..r , ~ [Interest Coupon Fozm] No. $ June, On the 1st day of December, 19 ,unless the Bond to which this coupon is attached, if. 'redeemable, has been called for prior redemp- tion, the Town of Vail, in the County of Eagle and State of Colorado, wall pay to bearer the amount shown hereon in lawful money of the United Sates of America, at American National Bank, Denver, Colorado, being interest.then due on its General Obligation Bond, Sezies December 1, 1977, dated December 1, 1977, bearing No. (Facsimile Signature) Mayor 'down of Vail, Colorado [E~id of Interest Coupon Form] ~:~:, -11- ~~ ~ ~ ~, Said Bonds,, when executed as provided by law, sha11 be delivered by any one of the officers, of the Town to the Purchaser upon payment to the Town in accordance wit11 the contract of purchase for the Bonds between the Tawn and the Purchaser. The proceeds derived from said Bond sale shall be used exclusively for the purposes stated herein, provided, however, that any portion of the Bond proceeds may be temporarily invested pending such use in securities or obligations which are lawful investments for the Town of Vail, with such temporary investment to be made consistent with the covenant hereinafter pro-. vided.concerning arbitrage bonds. ,Neither the Purchaser of said Bonds nor the holder of any of them sha11 be in any way responsible for the application of the proceeds of said Bonds by the Town or any of its officers. 7. Y.f required, the interest and principal to become due on said Bonds in 1978- sha11 be advanced from any revenues or funds of the Town lawfully available therefor. For-the purpose 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 respec- tively, the Town Council of the Town of Vail shall annually fix and cert~;fy a rate of levy fbr ad valorem taxes to the Board of County Commissioners of Eagle County, Colorado, which taxes, in addition to all other taxes, when levied on all of the taxable property in the Town, in each. of the years 1978 to 1996, inclusive, wi11 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 far the payment of the interest on and principal pf said Bonds, respectively, until the Bonds, bath as to principal and interest, shall be fully paid, satisfied and discharged, provided, however, that nothing herein contained sha11 be so construed as to prevent the Town from committing and applying any other funds or revenues that may now or hereafter be in the treasury of the Town and legally available for the purpose of paying the interest on or principal of -said Bonds, and upon the application of any ether such funds or ~'evenues as aforesaid, the .levy or levies for ad valorem taxes herein provided may thereupon be _12_ ~ • ~~ !~ diminished to the extent the requirements for such Bond principal and interest payments far the particular year are thereby diminished. 8. Notwithstanding the foregoing provisions for ad valorem tax levies, the Town hereby further covenants and agrees that so long as the Bonds provided for herein remain outstanding and unpaid, it will levy, administer, enforce and collect the sales tax authorized by Ordinance No. 11, Series of 1973, to the extent of an amount to be not less than 4~ of gross receipts derived from the sale of tangible personal property and the furnishing of services now ar hereafter subject to~said sales tax. The Town of Vaii has previously is-sued its General Obligation Bonds as follows: its General Obligation Bonds, Series November 1, 1973, authorized by Ordinance No. 19, Series of 1973, in the original principal amount of $3,000,000; its General. Obligation Bonds, Series March 1, 1974, authorized }ay Ordinance No. 3, Series of 1974, in the original principal amount of $5,500,000; its General Obligation Ref unding Bonds,. Series 1974, dated November 15, 1974, authorized by Ordinance No. 21, Sex'ies of 1974, in the original principal amount of $2,640,000, which Refunding Bonds .refunded the ' full outstanding amount of the Town's General Obligation Bonds, Series November 1, 1973; its General~Obligation Bands, Series ]]ecember 1, .1975, authorized by Ordinance No. 21, Series of 1975, in the anginal principal amount of $860,000; its General Obligation Bands, Series September 1, 1.976, authorized by Ordinance No. 24, Series of 1976, in the original principal amount of _$300,000; its General Obligation Re- funding Bonds dated ,November 1, .1976, authorized by Ordinance No. 26, Series of 1976, in the original principal amount of $6,345,00.0, which Refunding Bonds refunded the full outstanding amours of the Town's General Obligation Bonds, Series March 1, 1974 and Series December 1, 1975; and its General Obligation Bonds, Series May 1, 1977 authorized by Ordinance No. 11, Series of 1977 in the original principal amount of $450.,000 (all of said prior bonds being .herein referred to as the "Priox' Bands"). The Town has covenanted and agreed, in each of the Ordinances for said Prior Bonds, to pledge and set aside all the dales tax revenues derived from one--half of the above .stated 4 0 of grass ' receipts authorized by said Ordinance No. 11, Series of 1.973, to pay the interest on a.nd the principal of the General Obligation fionds and --13- ~ ~ r~ ~ General Obligation Refunding Bonds authorized thereby. Said Ordinances for the Prior Bonds provide further that said pledged sales 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 Prior Bonds.' The Town of Vail covenants and agrees that all the sales tax revenues derived from one-half of said 40 of said gross receipts as authorized in Ordinance No, 11, Series of 1973, shall be and hereby are irrevocably and solely pledged and set aside to pay the interest on and the principal of the subject General Obligation Bonds, Series December 1, 1977, as the same become due and payable from year to year, on a parity with the Town's obligation to pay from said sales tax revenues the interest on and the principal of the Prior Bonds, provided that: A. 'the said pledged sales tax revenues may also be pledged and used foz the payment of the debt service on any other ar additional general obligation bonds of the Town of Vail which may be issued here- after from time to time,'provided that such other or additional general obligation bonds shall be on a parity with or subordinate~to (but not prior or superior to) the General Obligation Bonds, Series December 1, 1977, with respect to the sales tax revenues herein pledged; and B. To the extent that the debt service on all of the Town of Vail general obligation bonds which may be issued from time to time (including but~not limited to the Bonds authorized herein) and which are payable in whole or in part from the subject pledged sales tax revenues, is fully provided for ~in any fiscal year by tax revenues and other moneys legally available therefor, then the Town is authorized to use any revenues remaining from the subject pledged sales tax revenues for other purposes (but only after al.l of the debt service on said general obligation bonds 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, shall not be on a parity with and shall be subordinate and inferior to the General Obligation Bonds, Series December 1,,1977,, with respect to the sales tax revenues herein pledged. --1~l- R , ' So long as the General obligation Bonds, Series December 1, 1977, 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 Tawn which is legally dedicated and available to pay the principal. and interest payments~on said Bands, would diminish the revenue security for said Bonds. Nothing in this Ordinance shall be construed in such manner to prevent the issuance by the Town of Vail of additional bonds of any nature, provided that said additional bonds axe issued in a manner consistent with the. provisions and limitations stated herein with respect to the sales tax revenues herein pledged. 9. The sums hereinbefore provided to meet the interest on said Bonds and to discharge the principal thereof, when d.ue, are hereby ' appropriated for that purpose, and said amounts far each year shall be included in the annual. budget and the appropriation ordinance or measures to be adopted or passed by the Town Council of the Town in each year respectively while any of the Bonds herein authorized, either as to principal or interest, are outstanding and unpaid. No provisions of any~constitution,~statute, charter,, ordinance, reso- lution, or other order or measure enacted after the issuance of the Bonds herein authorized shall in any manner be construed as limiting or impairing the obligation of the Town to levy'ad valorem taxes, without limitation of rate or amount, or as limiting or impairing the, obligation of the 't'own to levy, adrni.nister, 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 Tawn Council annually at the time and in the manner provided by law far levying other Town taxes, if such action shall be necessary to effectuate the provisions of this Ordin-~ ante, to xatify and carry out the provisions hereof with reference to the levy and collection of the. ad valorem and sales taxes herein specified, and to require the officers of and for the 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 -15- the same, respectively, become due. Saa.d taxes, when collected, shall be kept for and applied only to the payment of the interest on and principal of said Bonds as hereinbefore specified. 10. The Town covenants with the holders of the Bonds that it will. make no use of the proceeds- of the Bonds at any time during the term thereof which, if such use had been reasonably expected on the date the Bonds are issued, would have caused the Bonds to be arbitrage ' bonds within the meaning of Section 103 (c) of the Internal Revenue Code of 1954, as amended, and the regulations proposed thereunder by the ilnited•States Treasury Department, unless, under ariy pxavision of law hereafter enacted, the interest paid on the Bonds (a) shall be' excludable from the gross income of a recipient thereof far federal income tax purposes without regard to whether or not such Bonds are arbitrage bonds, or (b) shall be exempt ~x~om all federal income taxation. 11. All action heretofore taken by the Town of Vail and by the officers of the Town not inconsistent herewith directed toward the authorization of bonds fog' the purpose of providing funds to defray, in whole or in part, the cost of providing an ice skating arena/mufti- purpose facility; a~f acquiring a site for a public works maintenance facility, and of acquiring real.praperty to be used as upon space • and/or recreation and park land., is hereby ratified, approved and conf firmed. 12. Pursuant to the [3niform facsimile Signature of Public Of- ficials Act, part 1 of ax'ticle 55. of title 11, Colorado Revised Statutes 1973, prior to the sale of the Bonds authorized heroin, there has been or will be filed with the Colorado Secretary of State a Facsimile Signature Certificate bearing the manual signatures of Sohn A. Dobson, the Mayor of the Town of Vail, and Colleen Kline, the Town Clerk of said Town, certified by them under oath. Said filing is hereby ratified, approved and confirmed for the purposes of issuing . .th'e subject General Obligation Bonds, Series December 1, 1977. 1~3. The officers of the Town are hereby authorized and directed to enter into such agreements and take. all action necessary or ap- . propriate to effectuate the provisions of this Ordinance and to comply with the requirements of law, including, without limiting the gener- ality of the foregoing: -16- ~ > ' ~ • ~ ~ ~~ ~~ a. The printing of the Bands herein authorized, including the printing upon each of such ~3ands of a copy of the approving opinion of Messrs, i}eMuth & Diberger, bond counsel, duly cer- tified by the Town Clerk.; and b. The execution of such certificates as may be reasonably required by the Purchaser of the Bonds relating to the signing of the Bonds, the tenure and identity of the Town officials, the assessed valuation and indebtedness of the Town, receipt of the Bond purchase price, and, if in accordance with the facts, the absence of litigation, pending or threatened,. affecting the validity of the Bonds; and c. The making of various statements, recitals, certifi- cations and, warranties,provided in the form of Bond set forth in this Ordinance; and d. The preparation and execution of a bond offering bro-- chure,-preliminary official statement, official statement, or offering circular, if any such is to be prepared, for the use of prospective purchasers of the bands, including, without limitation, the original purchaser, Kirchner, Moore & Co., Denver, Colorado, and its associates, if any; and e. A statement concerning the accuracy and completeness of disclosure of information provided in any bond offering bro- chore, preliminary official statement, official statement or offering circular for prospective buyers of the Bonds. 14. There is hereby appropriated-and set aside from any avail- able funds or revenues of the Town of Vail the amount or amounts necessary to pay all casts and expenses incident to the issuance of said General Obligation Bands, Series December 1, 1977, including, but not being limited to, any publication, legal, and fiscal agent costs and expenses. l5. All ordinances, acts, orders, resolutions, or parts thereof, taken by the Town of Vail and in canfiict with this Ordinance are hereby•repealed, except that this repealer sha11 not be construed sa as to revive any ordinance, act, order, resolution, or part thereof heretofore repealed. • 16. This Ordinance is, and shall constitute, a Legislative measure of the Town of Vail, and after the Bonds hereby authorized are issued, sold, and are outstanding, this Ordinance shall constitute a 1 7- contract between the Town and the holder ar holders of said ~3onds, and shall be and remain irrepealable until said Bonds and the interest accruing thereon shall have been Cully paid, satisfied and discharged. 17. The proper officers of the Town of Vail, Colorado, are hereby ,authorized and directed to pay or cause to be paid the interest on the Bonds herein authorized as the same shall accrue, and the principal of said Bonds at maturity, without further warrant or order. 18. If any paragraph, clause or provision of this Ordinance is judicially adjudged invalid or unenforceable, such judgment shall not affect, impair or invalidate the remaining paragraphs, clauses or provisions hereof, the intention being that the various paragraphs, clauses or provisions hereof are severable. 19. A public hearing~on this proposed Ordinance shall be held by the Town Council at 7:30 p.m. on Tuesday, December 20, 1977, at the Vail Municipal Building, Vail, Colorado, and it is hereby ordered that notice of said hearing be given as required by law. Ir1TRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PUB-- LIaHED ONCE IN FULL THIS 6th DAY OF December, J~977. • ~~', 5, • , (:TOWN } (SEAL} l ~ ~~ ' ~' ., w/ Town Clerk TOWN OF ~ L By Mayor ~ U PASSED ON SECOND READING, ADOPTED, ENACTED, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL THIS 20th DAY OF December, 1977. (TOjt~.~ ~ ~",,,,,.,, (SFhL)'7~'~''~,, I , I ~; ; `i ~. A t'.t e S t c`o'if' . ~,~ ~~''~ ~,, Town Clerk TOWN OF AI ~j By ~~~ lG • r4ayr6r ~L ~~t -18- #~ CERTI~I~D g~Cr___.~- . .. OF 5 C7~ TAE TORN PROO~~pINO ZL, C©~-'O~p~O C?F ~3A I,T5 TpWN ~,N OF 'l . TAE ISSV CE R lg'? g$LA'rINO TO T~3E RIBS DEO~~'gE ~~rT---`~ BLIG~TION'BONpSr SE O~ ~2r~~Q'~ « L O Q~NT ~'~lE~' pgINGIpp,L. fiM IN `i'xE ED D~OE~BE~ 1 r 7-g fi 7 BANDS DST STATE OF COLORADO ) COUNTY OF EAGLE ) ss. TDWN OF VAIL ) The Town Council of the Town of Vail, Colorado, met in regular session at the Vail Municipal Building, the regular meeting place thereof. in said Tawn, on Tuesday, the 6th day of December, 1977 ,. at the hour of 7:30 p.m. The following members of/ nt/h.e Town Council were present: Mayor : ~ `G . ,Q-~,G~, ~ P/~.p ~"ti' 1 Q `y~ Council members: ~~ P~- l~~~- D The following members of the Town Council. were absent: ~Zi.,__ Thereupon the following proceedings, among others, were had and tokens ee.~m4t~•c. ~.GK~ q Council. member introduced anc~moved the approval on first reading of the following C}xdinance, which was read by title, sufficient copies having previously been made available to the Council. and to the public: r ~1- ORDINANCE NO. ~ ' SERIES OF 1977' AN ORDINANCE TO CONTRACT AN INDEBTEDNESS ON BEHALF OF THE TOWN OF VAIL, COLORADO, AND UPON THE CREDIT THEREOF, BY ISSUING GENERAL OBLIGATIQN BONDS OF SAID TOWN IN 'S'HE PRINCIPAL AMOUNT OF $2,350_,000 FOR THE PURPOSE OF DEFRAYING, IN WHOLE OR IN PART, THE COST OF PROVIDING. AN ICE 5KATING ARENA/MULTI-PURPOSE FACILITY, AND OF SO DEFRAYING THE COST OF ACQUIRING.A SITE FOR A PUBLIC WORKS MAINTENANCE FACILITY, AND OF SO DEFRAYING THE COST OF ACQUIRING T2EAL PROPERTY TO BE USED AS OPEN SPACE AND/OI2 RECREATION AND PARK LAND; PRE-. SCRIBING THE FORM OF SAID BONDS.; AND PROVIDING FOR THE LEVY OF TAXES AND FOR THE APPLICATION OF SALES TAX REVENUES OF THE TOWN OF VAIL TO PAY SAID BOND5 AND THE.INTER,EST THEREON. WHEREAS, at a special election of the qualified, registered electors of the Town of Vail, Colorado, duly called and held on Tuesday, the nth day of. October, 1977, in accordance with law and pursuant to due notice, there were submitted to said electors the following questions: 1. Ice Skating Arena/Mufti-purpose Facility Bonds, Question Submitted: "Shat]. the Town of Vaal, Colorado, be authorized to issue its negotiable, interest bearing general obligation bands in one series or more in an aggregate principal amount not to exceed $1,800,Od0, or so much thereof~as may be necessary, for the purpose of defraying, in.whole or in part, the cost of acquiring, constructing, installing and equipping an enclosed ice skating arena and multi-purpose facility suitable for conventions, con- certs, exhibitions and trade shows, together with all necessary incidental and appurtenant properties, structures, facilities and costs, 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 30 years from the date or respective dates of the bonds, such bonds to be payable from general ad valorem taxes and other funds legally available therefor, and such bonds to .be sold and issued at one time or from time to time, .in such manner and amounts and upon such terms and conditions as the Town Council may later determine, including provisions for the redemption of bonds prior to maturity upon . payment of a. premium not exceeding 3 percent of the principal thereof?': . .2.~ Public Works Maintenance Facility Site Acquisition Bands, Question Submitted: . "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 not to exceed $350.,040, or so much thereof as may be necessary, for the purpose of defraying, in whole or in .part, the cost of acquiring a parcel of real property, known a5 the Pulis property to be used as a ,site for a proposed public works maintenance facility, together with all necessary incidental and appurtenant properties, facili-. ties, and costs, 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 30 years from the date or respective dates of the bonds, such bonds to be payable from general ad valorem taxes and other funds legally ~2- available therefor, and such bonds time or from time to time, in such such terms and conditions as the T. mine, including provisions for the maturity upon payment of a premium principal thereof?" to be sold manner and awn Council redemption not exceed and issued at one amounts and upon may later deter- af bonds prior to ing 3 percent of the 3. Open Space Acquisition Bonds, Question Submitted: "Sha11 the Town of Vail, Colorada,~ be authorized to issue its negotiable, interest bearing general obligation bonds in one series. or more in an aggregate principal amount not to exceed $200,000, or so much thereof as may be necessary, for the purpose of defraying, in whole or in part, the cast of acquiring a parcel of real property, known as King Arthur's Court, to be used as open space and/or recreation and park land, together with all necessary incidental and appurtenant properties and facilities, and the costs incidental thereto, such band to bear interest at a maximum net effective interest rate not exceeding 10 percent per annum, and to mature serial'iy during a period of not more than 30 years from the Nate ar respective dates of the bonds, such bonds to be payable from general ad valorem taxes and other funds legally available therefor, and such bonds to be sold and issued at one time or from .time to time, in ,such manner and amounts and upon such terms and conditions as the Town Council may later determine, including provisions for the redemption of bandy prior to maturity upon payment of a premium not exceeding 3 percent of the principal thereof?" and WHEREAS, as evidenced by the canvass of the returns of said election, more than a majority of said electors voting on each of said questions voted in favor of issuing such bonds; and WHEREAS, the Town Council :of the Town of Vail has determined, and does hereby determine, to issue .at this time general obligation bonds for the purposes authorized by sand electors at said election, in a total principal amount of $2,350,000 ("the Bonds"), as hereinafter set forth in this Ordinance; and WHEREAS, a proposal for the purchase of the ~3onds has been received from Kirchner, Moore & Co., Denver, Colorado ("the. Purchaser"), upon terms favorable to the Town, which the Town Council of the Town of Vail has duly determined to, and hereby does, accept; and WHEREI~S, pursuant to Ordinance No. 11, Series of 1973, of the Town of Vail., there was submitted to the qualified, registered electors of the Town of Vail, at a~special election held on the 25th day of September, 1973, the question of the imposition of a sales ,tax on the sale of tangible personal property at retail and the furnishing of services within the Town of Vail; and WHEREAS, as evidenced by the canvas s. of the returns of said election, more than a majority of said electors voting an said sales tax question voted in favor of imposing .said sales tax; and F --3- WHEREAS, the Town Council of the Town of Vail has estimated and determined, and does hereby estimate and determine, that the principal maturing and the interest accruing on said $2,350,000, the principal amount of the Bonds of the issue authorized herein, can be met from revenues derived from sources other than general ad valorem property taxes, including, without limitation, the revenues to be derived from the sales tax authorized by said Ordinance No. 11, Series of 1973, and approved by the aforesaid electors voting at the aforesaid electian; and WHEREAS, the Town Council of~the Town of .Vail has determined, and does hereby determine, that it is necessary and in the best interests of the Town of Vail and the inhabitants thereof that the Bonds in the total principal amount of X2,350,000 be now issued in accordance with the•provisi.ons of this Ordinance. NOW, THEREFORE, BE ZT ORDAxNED BY 'T'HE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THA'T': 1. On October 18, 1977, the Tawn Council duly adopted its Reso- lotion authorizing. Notice of Sale of the' subject Bonds. The form of "Notice of Bond Sale" and the fox-m of ."Official Notice of Bond Sale" stated tha-t the coupon interest on the Bonds should not exceed 8o per annum, and that it was anticipated that delivery of the Bonds would be made on or about December 23, 1977. Said forms were revised prior to their publication to state that the maximum net effective interest rate for the Bonds shall not exceed 8o per annum, and that it is anticipated that delivery of the Bonds will be made on or about January 23, 1978. Said revisions are hereby ratified, approved and confirmed. 2. Pursuant to the authorization. conferred by the qualified, registered electors of the Town. of Vail at a special election duly called and held on October 4, 1977, and far the purpose of defraying,, in whole or in part, the cost of :• (a) providing an enclosed ice skating arena and multi-purpose facility suitable for conventions, :concerts, exhibitions and trade shows, and (b) acquiring a parcel of real property known as the Pulis property to be used as a site for a proposed public works maintenance facility, and (c) acquiring a parcel of real property, known as King Arthur's Court, to be used as open space and"/or recr.eat'ion and park land; together with all necessary -4- " incidental and appurtenant properties and facilities, and the casts incidental thereto, the Town of Vail Shall issue on behalf of said Town and upon the credit thereof its negotiable coupon General Obli- gation Bonds, Series December 1, 1977, in the aggregate principal amount of $2,350,400, dated December 1, 1977, consisting of 470 bonds in the denomination of $5,000 each, numbered 1 to 470, inclusive, payable in lawful money of the United States of America. Said Bands shall bear interest as evidenced by two sets of bearer interest coupons, as herein set forth, one of said sets being designated "A", and the other such set being designated "B". The subject Bonds sha11 mature .serially in regular, numerical order on December l of each year, and shall bear per annum "A" coupon interest fx'om Becember 1, 1977, to the maturity date of each Bond, except if redeemed prior thereto, as indicated in the following table. Said "A" coupon interest sha11 be payable December 1, 1978, and semi- annually thereafter an the 1st day of June and the 1st day of, December of each year. If upon presentation at~maturity payment of the prin- cipal amount of any Bond .is not made as provided herein, interest shall continue at the "A" coupon .rate stated therein until payment of said principal amount is made in full. In addition, a11,F3onds shall bear per annum "B" coupon interest for the period from March 1, 1978 to December 1, 1979 only, as indicated in the following table. Said "B" coupon interest shall be payable December 1, 1978, June 1, 1979, and December 1, 1979. Pex' Annum Bands Numbered Principal~Amaunt Coupon Rate (both inclusive} Maturity Maturing "A" "B"* 1 to 7 1979 ~ $ 35,000 6.50 1.5a 8 to 16 1980 ~ 45, 000 6. 5 1. 5 17 to 27 . 1981 55-, 000 6.5 1. 5 28 to 40 ~ 1982 65,000 6.5 1.5 41 to 55 ~ 1983 75,000 6.5 ]. ..5 56 to 72 1984 85,000 6.5 1.5 73 to 91 1985 95,000 6.5 . 1.5 92 to 111 1986 100,000 6.5 1.5 112 to 133 1987 110,000 S.0 3.0 134 to 157 198$ 120,000 5.1 2.9 158 to 183 1989 130,000 5.2 2.8 184 to 211 1990 140,000 5.3 2.7 212 to 242 1991 ].55,000 5.4 2.6 243 to 275 1992 165.,000 5.5 2.5 276 to 310 1993 175,000 5.5 2.5 311 to 347 1994 ~ 185,000 5.6 2.4 348 to 386 1995 195,000 5.6 2.4 387 to 427. 1996 205,000 5.7 2.3 428 to 470 1997 ~ ?.15,000. 5.7 2.3 *Payable for the period from March ~., 1978 to December 1, 1979, only. --5- Bonds of this issue numbered 1 through 133, inclusive, maturing on or before December 1, 1987, are not redeemable prior to their respective maturity dates. Bonds of this issue numbered 134 through 974, inclusive, maturing on December 1, 19$8, and thereafter, are redeemable at the option of the mown Council on December 1, 1987, and on any interest payment date thereafter, in inverse numerical order, at a price equal to the principal amount of each Bond so redeemed, plus accrued interest thexeon to the redemption date, plus a premium of three per centum (3%} of the principal amount of each.Rond so redeemed. Notice of any redemption shall be given,by the .Town Clerk in the name of the Town of Vail., by publication of such notice at least one (1) dime ~y one (1} publication, such publication being not less than. thirty (30} days prior to the redemption date specified in such notice; in The Vail Trail, Vail, Colorado,~if then in business and publishing, and if~not, then in a newspaper of general circulation in the Town of Vail, and by sending a copy of such notice by certified ar registered first-class, postage prepaid mail, at: least thirty (30) days prior to. the redemption date, to the holders of each of the.. Bonds being redeemed, if the names and addresses of such holders are recorded with the Town Clerk. For this purpose, the holden of any such Bond may at any time furnish his name and address to the Town Clerk. Such notice shall specify the number or numbers of the Bonds so to be redeemed and the date fixed for redemption, and shall further state that on the redemp- tion date there wi11 become and will be due and payable upon each Bond so to be redeemed the principal amount thereof plus accrued interest on said principal amount to the redemption date, and that from and after such date interest will cease to accrue, Any Bonds redeemed prior to their respective maturities by call for prior redemption or otherwise shall not be reissued and shall be cancelled the same as Bonds paid at or after maturity. 3. The principal of, interest an, and any premiums due in con- nection with the redemption of the Bonds shall be payable in lawful money of the United States of America without deduction for exchange or Collection charges at American National Bank, Denver, Colorado, which is hereby designated the paying agent for this bond issue. _~- The net effective interest rate on Bonds of this issue is 5.596786x. The Bands shall be general obligations of the Town of Vail,~and shall be payable from general ad valorem taxes without limitation as to rate or amount, except as they may actually be paid from other revenues as provided herein. 4. Said Bonds shall be executed in the name and on behalf of said Town with the facsimile signature of its Mayor, shall bear a facsimile 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 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 and obligations of the Town according to their impart, securing the payment of interest~as. it becomes due. Should any officer whose manual or facsimile signature appears on said Eonds or the interest coupons attached thereto cease to be such officer before delivery of the Bonds to the Purchaser, such manual or facsimile signature shall nevertheless be valid and sufficient for all purposes. 5. Said Bands and the interest coupons attached thereto shall be in substantially the following form: _~~ [I"orm of Bond] UNITED STATES OF AMERICA STATE OF COLORADO COUNTY OF LAGLD TOWN OF VAIL GENERAL OBLIGATION BOND, SERIFS DECEMBER 1, 1977 No. $5,04 The Town of Vail, in the County of eagle and State of Colorado, for value received, hereby acknowledges itself indebted and promises to pay to the bearer hereof the principal sum of FIVE THOUSAND DOLLARS in lawful money of the United States of America, on the 1st day of December, 19 , with interest thereon from the date hereof to the maturity date of this Bond, except if redeemed prior thereto, as evidenced by one set of bearer interest coupons designated "A" hereto attached at the rate of per centum ( _o} per annum, payable December 1, 1978, and semiannually thereafter on the 1st day of June and the 1st day of December of each year, and additional interest, for the period ,from March 1, 1978 to December 1, 1979 only, as evidenced by a second set of bearer interest coupons designated "B" hereto attached at the rate of pex' centum ( ~) per annum, payable December, 1, x.978, June 1, 1979, and December 1, 1979: The principal of, interest on, and any prem~.ums due in connection with the redemption of this Bond are payable zaithout deduction for exchange or collection charges at American National Bank, Denver, Colorado, upon presentation and suzrender of said coupons and this Bond as. they severally become due. If upon presentation at maturity payment of the principal amount of this Bond i.5 not made, interest sha11 continue at the "A" coupon rate stated herein .until payment of said principal amount i.s made in full. Bonds of this issue maturing on or before December 1, 1987, are not redeemable prior to their respective maturity dates. Bonds of this issue maturing in the yeax' 1988 and thereafter are redeemable at the option of the Town Council on December 1, 1987, and on interest payment dates thereof ter, in inverse numerical order, at a price equal to the principal amount of each Band so redeemed plus accrued interest thereon to the redemption date, plus a premium of three per centum (3~) of the principal amount of each Bond so redeemed. _S_ Redemption shall be made upon not less than thirty (30) days' prior notice by publication of such notice at least one (1) time by one (1) publication, such publication being not less than thirty {30) days prior to the redemption date specified in such notice, in The Vail Trail, Vail, Colorado, if then in business and publishing, and if not,. then in a newspaper of general circulation in the Town of Vail, Colorado, and by sending a copy of such notice by certified or regis- tered first class, postage prepaid mail, at least thirty (30) days prior to the redemption date, to the holders of each of the Bonds. being redeemed, if the names and addresses of such holders are reW corded with the Town Clerk. For this purpose, the holder of any such Bond may at any time furnish his name and address~ta the Town C].erk. Such notice shall specify the number or numbers of the Bonds so to be redeemed and the date fixed for redemption, and shall further state that an the redemption date there will become and will be due and payable upon each Bond so to be redeemed the principal amount thereof plus accrued interest on said principal amount, and that .from and after such date interest will cease to accrue. This Band is one of a series, issued by the Town Council of 'the Town of Vail, Colorado, on behalf of said Town-and upon the credit thereof for the purpose of providing funds to defray, in whole or in part,-the cost of providing an ice skating arena and:multi-purpose facility, of acquiring .real property to be used for a public works maintenance facility, and of acquiring real property to be used as open space and/or recreation and park land, together with'all neces- sary incidental and appurtenant properties and facilities, and the .costs incidental thereto, by virtue of and in .full conformity with the Constitution of the~State of Colorado, the Town of Vail Charter, and all'ather laws of the State of Colorado thereunto enabling, and pursuant to an Ordinance of said Town duly adopted, published and made a law of said Tawn prior to the issuance of this Bond; .and it is hereby recited, certified and warranted that~all the requirements 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 Tawn, including that of this Bond, does not -9- exceed any constitutional or statutory limitation of the State of Colorado and does not exceed any limitation of the Town of Vail Charter; that at a special election lawfully held in the Town on the 4th day of October, 1977, the issuance of this Band was duly authora.zed by the qualified, registered electors of the Town voting at said election; and that pravision has been made for the .levy and collection of a direct annual tax on all the taxable .property within the Tawn without limitatian as to rate or amount and for the application of certain sales tax revenues of the Tawn, sufficient to pay the interest on and the principal of this.Bond as the same respectively became due. The- full faith and credit of the Town of Vail, in the County of Eagle and State of Colorada, is hereby pledged for the punctual payment of the principal of and the interest on this Bond.. IN TESTIMONY WHEREOF, the Tawn. Council of tha Town of Vail, Colorado, h,as caused this Band to be executed in the name and on behalf of said Town with the facsimile signature of the Mayan of said Town, to be sealed with a facsimile of the seal of said Town, to be attested by the manual signature of the Tawn Clerk of said Town, and has caused the interest coupons attached hereto to be executed with the facsimile signature of the Mayan of said Tawn, all as of the let. day of December, 1977. - TOWN OF VAIL, COLORADO By (Facsimile Signature) Mayor - (FACSXMTLE) { SEAL ) Attest: __{Manual Signature) -Town Clerk [End of Form of Bond] --10- LTnterdst Coupon Form) No. June, - On the 1st day of December, l9 unless the Bond to which this coupon. is attached, if redeemable, has been called for prior redemp~ tian, the Town of Vail, in the County of Eagle and State of Colorado, will pay to bearer the amount shown hereon in lawful money of the United States of America, at American National Bank, Denver, Colorado, bung interest then due on-its General Obligation Band, Series December 1, 1977, dated December 1, 1977, bearing No. Facsimile Signature) Mayor Town of Vail, Colorado [End of Tnterest Coupon Form) w -ll- 6. Said Bonds, when executed as provided by ~.aw, shall be delivered by any one of the officers of the Town to tha Purchaser upon payment to the Town in accordance with the contract of purchase for the Bonds between the Town and the Purchaser. The proceeds derived from said Bond sale shall be used exclusively for the purposes stated herein, ,provided, however, that any portion of the Band proceeds may be temporarily .invested pending such. use in securities or obligations which are lawful investments for the Town of Vail, with such temporary investment to be made consistent with the covenant hereinafter pro- vided concerning arbitrage bonds. Neither the Purchaser of sand Bonds nor the holder of any of them shall be in any way responsible for the application of the proceeds of said Bonds by-the Town or any of its officers. 7. ~I.f required, the interest and principal to become due on said Bonds in 1978 shall be advanced from any revenues or funds of the Town lawfully available therefor. For the purpose 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 respec- tively, the Town Council of the Town of Vail shall annually fix and certify a rate of levy fo.r ad~valorem taxes to the Board of County Commissioners of Eagle County, Colorado, which taxes, in addition to all other taxes, when levied on all of the taxable property in the Town, in each o.f the years 1978 to 1996, inclusive, will raise ad valorem tax revenues sufficient to make such reimbursement and to promptly meet and pay such Band principal and interest payments as the same become due. Said taxes when collected shall be applied solely for the payment • of the .interest.on and principal of said Bonds, respectively, until ~' the Bonds, both as to principal and interest, shall be fully paid, satisfied and discharged, provided, however, that nothing herein contained shal-l~be so construed as to prevent the Town from committing and applying any other funds or revenues that ;nay naw or. hereafter be in the treasury of the Town and legally available for the purpose of paying the interest on or principal of-said Bonds,'and upon the application of any other such funds or revenues as aforesaid, the levy or levies for ad valorem taxes herein provided may thereupon be -12- diminished to the extent the requirements for such Band principal and interest payments for the particular year are thereby diminished. 8. Notwithstanding the foregoing provisions for ad valorem tax levies, the Tawn hereby further covenants and agrees that so long as the Bonds provided for herein remain outstanding and unpaid, it will levy, administer, enforce and collect the sales tax authorized by Ordinance No. 11, Series of 1973, to the extant of an amount to be not less than 4g of grass receipts derived from the sale.of tangible personal property and the furnishing of services now or hereafter subject to said sales tax. The Town of Vail has previously issued its General Obligation Bonds as follows: its General Obligation Bands, Series November ~, 1973, authorized by Ordinance No. 19, Series of 1973, in the original principal amount of $3,000,000; its General Obligation Bonds, Series March 1, 1974, authorized by Ordinance No. 3, Series of 1974, in the original principal amount of $5,500,000; its General•Obligation Refunding Bonds, Series 1974, dated November 15, 1974, authorized by Ordinance No, 21, Series of 1974, in the original principal amount of $2,640,000, which Ref~ndin.g Bends refunded the full outstanding amount of the Town's General Obligation Bonds, Series November 1, 1973; its General Obligation Bonds, Series December 1, 1975, authorized by Ordinance No. 21, Series of 1975, in the. original principal amount of $860,000; its General Obligation Bonds, Series September 1, 1976, authorized by Ordinance No. 24, Series of 1976, in the original principal amount of $300,000; its General Obligation.Re- funding Bonds dated November .1, 197&, authorized by Ordinance No. 26, Series of 1976, in the original principal amount of $5,345,000, which Refunding Bonds refunded the full outstanding amount of the Town's G'eneral~Obligation Bonds, Series March 1, 1974 and Series December 1, 1975;~and its General Obligation Bonds, Series May 1, 1977 authorized by Ordinance No. 11, Series of 1977 in the original principal amount .of $450,000 (all of said prior bonds being herein referred to as. the "Prior Bonds"). The Tawn has covenanted and agreed, in each of the. Ordinances far said Prior Bonds, to pledge and set aside ,all the sales tax revenues derived from one-half of the above stated 4% of grass receipts authorized by said Ordinance No. 11, Series of 1973, to pay the interest on a,nd the principal of the General Obligation Bonds and -13- General Obligation Refunding Bonds authorized thereby. Said Ordinances f.or the Prior Bonds provide further that said pledged sales tax revenues may also be pledged and used for the payznerit of the debt service an any other or additional general obligation bands of the Town of Vail which may be issued on a parity with said ~'rior Bonds. The Town of Vail covenants and agrees that all the sales tax revenues derived from one-half of said 40 of said gross receipts as authorized in Ordinance Iv~o. 11, Series of 1973, shall be and hereby are irrevocably and solely pledged and set aside to pay the interest. an and the principal of the subject General Obligation Bonds, Series December 1, 1977, as the same become due and payable from year to year, on a parity with the Town's obligation to pay from said sales tax revenues the interest on and the principal•of the Prior Bonds, provided ghat: A, The said pledged sales 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 here- after from time to time, provided that such other or additional. general obligation bonds shall be on a parity with or subordinate to (but not prior or superior to)~the General Obligation Bonds, Series December 1, 1977, with respect to the sales tax revenues herein pledged; and B. To the extent that 'the debt service on all of the Town of Vaii general obligation bonds which may be issued from time to time (including but not limited to the Bonds authorized herein) and which are payable in whole or in part from the subject pledged sales tax revenues, is fully provided far in any fiscal year by tax revenues and other moneys legally available therefor, Cheri the Town is authorized to use .any revenues remaining from the subject pledged sales tax revenues f•or other purposes (but on 1,y after all of the debt service on said general obligation bonds 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, shall not be on a parity .with and shall be subordinate and inferioar to the General Obligation Bonds. Series December 1, 1977, with respect to the sales tax revenues herein pledged] -14-- So long~as the General Obligation Bonds, Series December 1, 1977, 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 tie Town which is legally dedicated and available to pay the principal and interest payments on said Bonds, would diminish the revenue security for said Bonds. Nothing in this Ordinance sha11 be construed in such manner to prevent the issuance by the Town of Vail of additional bands of any nature, provided that said additional bonds are issued in a manner consistent with the provisions and limitations stated herein with respect to the sales tax revenues herein pledged. 9. The sums hereinbefore provided to meet the interest on said. Bonds and to discharge the principal thereof, when due, are hereby appropriated for that purpose, and said amounts for each year shall be included in the annual budget and the appropriation ordinance or measures to be adopted or passed by the Tawn Council of the Town in each year respectively while any of the Bands herein authorized, either ;as to principal. or interest, are outstanding and unpaid. No provisions of any constitution, statute, charter, ordinance, reso- lution, or other order or measure enacted after the issuance of the Bonds herein .authorized shall•in any manner be construed as limiting or impairing the obligation of the Town 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. 3t~shall be the duty of the Town Council annually at the time and in the manner provided by law foz levying other Town taxes, if such action shall be necessary to effectuate the provisions of this Qrdin- ance, 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 to require the officers of and for the 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 -15- the same, respectively, become due. Said taxes, when collected, shall be kept for and applied only to the payment of the interest on and principal of said Bonds as hereinbefore specified. 10, The Town covenants with the holders of the Bonds that it wi11 make no use of the proceeds of the Bonds at any time during the term thereof which, if such use had been reasonably expected on the date the Bonds are issued, would have caused the Bonds to be arbitrage bonds within the meaning of Section 103(c} of the Internal Revenue Code of 1954, as amended, and the regulations proposed ,thereunder by the United States Treasury Department, unless, under any provision of law hereafter enacted, the interest paid on the Bonds (a) shall be' excludable from the gross income of a recipient thereof for federal income tax purposes"without regard to whether or nat such Bonds are arbitrage bonds,, or (b) shall be exempt from all federal income taxation. 11. All action heretofore taken by the Town of Vail and by the officers of the Town not inconsistent herewith directed toward the authorization of bonds for the purpose of providing funds to defray; in whole or in part; the cost of providing an ice skating arena/multi- purpose facility, of acquiring a site. for a public works maintenance facility, and of acquiring real property to be used as open space and/or recreation and park, land., is hereby ratified, approved and confirmed. 12. Pursuant to the Uniform Facsimile Signature of Public Of- , finials Act, part 1 of article 55. of title 11, Colorado Revised Statutes~l973, prior to .the sale of the Bonds authorized herein, there has been or .will, be filed with-the Colorado Secretary of State a Facsimile Signature Certificate~bear•ing the manual signatures of john A. Dobson, the Mayor of the Town of Vail, and Colleen Kline, the Town. Clerk of said Town, certified by them under oath: Said filing is - hereby ratified, approved and confirmed for the purposes .of issuing the subject GEneral Obligation Bonds, Series December 1, 1977. 13, The officers of the Town are hereby authorized and directed to enter into such agreements and take.al.l action necessary or ap- propriate to effectuate the provisions of this Ordinance and to comply with the requirements of law, including, without limiting the gener- ality of the foregoing: -16- a. The printing of the Bonds herein author-ized, including the printing upon each of such Bonds of a copy of the approving opinion of Messrs. DeMuth & Eiberger, bond counsel, duly cer- tified by the Town Clerk; and b. The execution of such certificates as may be reasonably required by the Purchaser of the Bonds relating to the signing of the Bonds, the tenure and identity of the Town officials, the assessed valuation and indebtedness of the Town, receipt of the Bond purchase price, and, if in accordance with the facts, the absence of litigation, pending or threatened, affecting the validity of the Bonds; and c. The. making of various statements,. recitals, certifi- cations and warranties. provided in the form of Bond set forth in this Ordinance; and d. The preparation and execution of a bond offering bro- chore, preliminary official statement, official statement, or offering circular, if any ,such is to be prepared, for the use of prospective purchasers of the bonds, including, without limitation, the original purchaser,~Kirchner, Moore & Co., Denver, Colorado, and its associates, if any; and e. A statement concerning the accuracy and completeness of disclosure of information provided in any bond offering bro- chure, preliminary official statement, official statement ©r offering circular for prospective buyers of the Bonds. l~. There is hereby appropriated and set aside from any avail- able funds or revenues of the Town of Vail the amount or.amounts necessary to pay all costs and expenses incident to the issuance of said General Obligation Bonds, Series December 1, 1977, including, but not being limited to, any publication; legal, and fiscal agent costs and expenses. ~. 15. All ordinances, acts, orders, resolutions, or parts thereof ,_ taken by the Town o~ Vai1 and in conflict with this Ordinance are hereby repealed, except that this repealer sha11 not be canstrued~so as to revive any ordinance, act, order, resolution, or part thereof heretofore repealed. 16. This Ordinance is, ,and shall constitute, a legislative 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 Bands, and sha11 be and remain irrepealable until said ~3onds and the interest accruing thereon shall have been fully paid, satisfied and discharged. 17. The proper afficers of the Town of Vail, Colorado, ax'e hereby authorized and directed to pay ar cause to be paid the interest on the Bonds herein authorized as the same sha11 accrue, and the principal of said Bonds at maturity, without further warrant or order. 18. T,f any paragraph, clause or provision of this Ordinance is judicially adjudged invalid or unenforceable, such judgment shall not affect, impair or invalidate the remaining paragraphs, clauses ar provisions hereof, the intention being that the various paragraphs, clauses ox provisions hereof are severable. 19. A public hearing on this proposed Ordinance sha11 be held by the Town Council at 7:30 p.m. on Tuesday, December 20, 1977, at the Vazl Municipal Building, Vail., Colorado, and it is hereby ordered that notice of said hearing be given as required by law. TN'FRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PU$- ' LTSHED ONCE ZN FULL THIS 5th DAY OF December, 1977. TOWN OF L .~ (TOWN) ~ By. (SEAL) Mayca~ V y Attest: l/ vC.. 1~ Town Clerk PASSED ON SECOND READING,~ADOPTED, ENACTED, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL THIS 20th DAY OF December, 1977. ,,,iiai,r,~, ~~ '~~'{TOWN)' (SEAL), ~ ~, ,•, ~ P+tt~,E~S,'ti .~, '~,, ~~~. 'r.,,~~rnn ~iiti<<,. TOWN OF V By - .r~ayor~. ~~,~~ ~ l~ own Clerk _18_ Council member ~ seconded the motion, and 'the question being upon the passage on first reading of said Or- dinance, the ro11 was called with the following result: Council members voting "Yes": Mayor: Council members: ~ v~~ ~~ Council members voting "No": ./~A.~ members of the Cauncil present having voted a.n favor of the passage on first reading of the Ordinance, the presiding officer thereupon declared the Ordinance duly passed on first reading and directed that the Ordinance be published once in -full in The Vail Trail; a legal newspaper of general circulation within the 'fawn of Vail, on December 9, 1977. Thereupon, of ter consideration o£ other business to come before the~Council, the meeting was adjourned. ~~ ~,~~ ,? <. ,, dT,OwN) . ~'~ ~; ('SEAL.} ', ~'~ .,f t,i;,,~~,'S''~ ~+~~flf flllll 11 iYL1~' ATTEST: Ta n Clerk Town of Vaal, Colorado ~~ ` 'T Mayor ~ r/ Town of Vaal, Colorado -19- STATD OT' COLORAI]O } COUNTY OI' FAGLF } ss. } TOWN OF VAIL ) The Town Council of the Town of Vail, Colorado, met in regular session at the Vail Municipal Building, the regular meeting place thereof in said Town, on Tuesday, the 20th day af.December, 1,977, at the hour of 7:30 p.m. The following members of the Town Council were present: Mayor: ~ ~r.4 ~,~'~d(.,. l Council members: ~_ ,~- l ~~ / ~A%zZ~LC~l~r't- The following members of the Town Council were absent: .•.~/~~ o Thereupon the following proceedings, among others, were had and taken: The presiding officer informed the Council that Ordinance No. 3/, Series of 1977, relating to the issuance of General Obligation Bonds, Series December 1, 1977, in the principal amount of $2,350,000, which was introduced, passed on first reading, and ordered published at a regular meeting of the Town Council held on December 6,1977, was duly published in full in The Vail Trail, a newspaper of general circulation i•n the Town of Vail, in its issue dated December 9, 1977, ,,. and that the publisher's affidavit of said publication is now on file in the office of the Town Jerk. • Council member ,% ~..@~ then read the Ordinance by its title, sufficient copies having previously been made available to the Council and•to the public. The presiding officer then declared that this was the time and place established for a public hearing on the Ordinance and the meeting was then opened for such purpose. Thereupon the following persons appeared: -20- (Indicate name and substance of remarks.) ~~ ~~ ~~~ ~~-~ Thereupon, al.l.persons having been givdn an opportunity to speak, the hearing was declared closed. -21- Council member e~~~~ then moved the passage and adoption of Ordinance No. .3 ~ Series of 1.977. Council member ~i~,~-p seconded the motion, and the ciuesta.on being upon the passage and adoption of said Ordinance, the roll was called with the following result: Council members voting "Yes": Mayor : ' ~ /~~ Council members: Council members voting "tvo": "` members of the Council. present having voted in favor of the adoption of Ordinance No. 3 I Series of,.1977~, the presiding officer thereupon declared said Ordinance finally and passed and adopted and directed that the Ordinance be published once in full in The Vail Trail, a legal newspaper of general circulation within the Town of Vail, in its issue of December 23, 1977; The~'eupon, after co.ns,ideration of other business to come before the Council, the meeting was adjourned.. ,,, y~l ,~ ,• , , ,; ~ ~' 1' ('OWN) ''(.SEAL) .~~~ t J~~~~1J1RIF1}I11}sltiti ' ~ . ATTEST: Mayor Town of ~7ai1, Colorado ' GAL ~~~G~ Town Clerk Town of Vail, Colorado _22_ STATE QT' COTaO~pO ) '~ s 5 E~,GLE ~ COUNTY OE TOWN OF VAIL . ) 1.icat''on of OrdinanG~ • ~ p,ffida~lt °~ Eirst Pub iAttach -23~ STF~TE 0~ ~OL~~'`a0 GOU~T`~ aE EAGLE TOWN DF Up,IL ~p,~tach ~~~~,~ ~ ss• } ~~v~t °f ~x~~n~nGe . ~? cQnd ~~b~l~~~~~,n c~~ S~ 4 ~~~~ y STATE 0~' COLORADO } ) COUNTY OP EAGLE ) ss. TOWN 0~' VAIL ) I,~Colleen Kline, the Town Clerk of the Town of Vail, Eagle County, Colorado, do hereby certify that the attached copy of Ozc~inance No. `~ ~ Series of 1977, regarding the issuance, and sale of Town of ~- Vail General Obligation Bonds, Series December 1, 1977, in the prin- cipal amount of $2,350,000, is a true and correct copy; that said Ordinance was passed on first reading by the Town Council at a regular meeting thereof held at the Vail, Municipal Building, the regular meeting place of the Town Council in the Town, on Tuesday, the 6th day of December, 1977; that said Ordinance was passed and adapted on second reading by the Town Council at a regular meeting thereof' held at. the Vail Municipal Building, the regular meeta.ng place of~the Town Council in the Town, on Tuesday, the 20th day of December, 1977; that true copies of said Ordinance have been duly executed and authenticated by the signatures of the Mayor of the Town of Vail and myself, as Town Clerk of said Town, sealed with the seal of the Town, numbered and recorded in the official records of the Town kept for that purpose in my office; that said Ordinance was duly published as required by law, as evidenced by the affidavits of publication attached hereto at pages 23-24. I .further certify that the fox'egoing pages constitute a`true and correct copy of the record of the proceedings of the Town Council at its regular meetings of December 6, 1977, and December 20, 1977, insofar as said proceedings relate to said Ordinance; that said pro- ceedings were. duly had and taken; that the meetings were duly held; and that the persons were present at said meetings as therein shown. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the Town of Vail, Colorado, this ~ ~ day of I , 197 ,~ ~y'r ~ i t``1\~ r ~' 1 TOWN) ,'(SEAL) . `,y . , 1~ ~ ' 1~ L I,~i,l. t.' . ~~ • ~f Town Clerk .Town of Vail, Colorado -25- °~ .... ~ ~ ~ a ~ a' vim, ~ ±. w w2°0f°ap'?'p~~ ~' [ ,b G ~ ~ ~' 1 ~ a. ~ `~ ~« a ~ ~ a ~ '« a a. a. C~ Z y ~ '3 r. C ~ CR W ~.. i]. ~' rv y ~ C] Fz. ~+' 7 ~ ~ ro ro O ~ rb „. ~ fl. O ~ ~„~ ~ m Q. ro ~ ~ ~ A sa X aC CO ~i O eC O o_ S!.j ~ n ?C d ~ O y ~ O m Gl. 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"' R ~ f9~ ,7 C ~ y ~~ ¢' ro a o rod'' m~ `~° E G o x~ ro Q. y ~~pp Cis f `~ n ~ ~ "' ~ ~ ~ 'o rc~a ~ .O~w ~ ~ ~ b ~' N O ~ R '~ rte- ~ h 0 R QQ ~ M CD m ~ ~ tp y '+ 7 f~9 e~+~ G. ^~ a ~ ~p p~ n ~ V ;~ M A. `n« N R. m 'C .O O to ~O-n ~ .0+,rns v ., ', . ~ ,. t r i '-~"' ~ ~ c o c a P a ~ ~ p .b '^ N O ~ O `~ „ O. P 'G .7 O p O ~ r, ~ b C N ~ n w p O~ ~' +OD+ 1~~ ~ ~i O ~ a a CJ ~ O ~ H r .. p ~ m n x m o o~• ~ ~ ''3 ~ ~ a a a ~ [ ~ ~ p ~ ro ~ ~ ^~~~~^~mp ~ 0 ~ f ~ ~ ~ ~ ~ ~ ~~~~~aE c ' ~' ~ ~ ~ a °° ~ o ~ ° ~` _ ~' ° ~ m ~' o n N . y G EOPn ~ y~ SY ~ ~J ~ ~. p ~ ~ ~ ~ C a c s ° °' ~ a ~ ~ o a~ a. m ~c ~ ~ n,~ O.roro ~ x ~ ~'' ~ ~, ~ '.~7 ~ .~ ~ ° o p ~~o~ ~ . I .m~} ~ ~ m '~ W ~ I - - 1 7 R~ M ~ x ~ ~ ~ C Ova ro ~' c~ ~ ~ ~~ a ~ a N C ~t ~y m ~ ~ C `~ ro p W .p-.. ~ r ~'G 7 m ~. CO ~ ~~ ~ ~ n p ro ro a• m y ;~ a m ~ ~ b S r ~ _ fn~ W em. y ~ = ~ D C A. 7• ~ 7~ R m ~ ~ ~ o 'a E ' . ~ °' ~, ~ o a .. n m ~. ~ 9 ..7 c. O ~ ~ i. ~, R:° ~ o 0 0 y K w G ~ O N w ~ ~ 4. o r ~ s • b m~~ Co P. 0.'O ^ ~ ~s o -.°~°'.~ ~ w '~ ~ ~ N "~'. O ry'Op~GW~w m ' ~ om ~ ~ ~ b o. E ~ a. ]' m ~" ~ -,m 7 r n A~ ~ x 'G a ~ ~ ~, i p `~ ~ ~ . N ~ b ~ m 'y :v ~ ~ ~ ~ m ~ ~ '~ D'O ~ ~.m ro ~. II „ ~ ~ rpr ~ ~ ~ ~ ~ v. W a N m y -. 0. ~. G.~ O m ~ ~ p C p m ~ n D ~ ~ . + r . ' ,M.~,w.~--~. a.....,, ,..... ....,. , ~..,,..- mad! con Stiff nr with ina cOYenenl peym Ml OI fn! Pe P! Seryite on any glhfr ar rterelnaNer prgvldetl tanclrNn9 erpltNgl edtllftanel general gbllpatlon boom or Iha bP11tlS. Neirhar 7Rf PVrcnaier 01 faltl Banda Town of vale vmlcn may oe issuee nereatrer nor Ift! MIQM of ant pl 7nlm shall be In arty item Ilene to time. pr9vlara feat Such other way relponlldlr far rnr sgpll[dltplf of me qr addlnonal Qenarel obuganars bong! snau prxeeas or sam Bona! by 7ne Town er any M beon a pdr~fy wnn Pr subOralnnte ro tout nor if! OHIClfs. prior or sucefl9r I01 the G,:nerdl GbrlgarlOn the 1nINe5r and prlntlpal to 7 II required Bontls, Serlel nKemger I, 1971, wllh rnpeCt . , bKOm0 tlU1 M Saltl 0ands IM1 1971 shall W ro me sales Iex revenues Mreln p4etlgrtl; advanced born any revenue or funOS Of me an9 Tpine exilhf lndt me OeblSMVi[l On all Tgwn lawluny ayeuebte rneretgr. For IhC . Of ine TOWn 07 VaH general ObttgallPn bonds purpox of tai mpursinq any wch stlvenee which may ti• lowed Irpm rime r0 rime and also IOC ilia pVrppse of gaytn0 ref IInCIYOIRQ bV1 Intl limited Ig me BMdS intuesl art and prlntlpal al Bald eondt as ine auutdneed neretnl and wnich ore pavabte In umr become due and payable respectively' whom ar in pan from en. sunlKt pls:agetl trsa Tawn CWnGII P1 m! Town of Vail shell sales Idv revcnue3, is IVlly prOVldetl for In sMaelly llx dntl cerllly a role of levy for atl any IISt61 veer 4Y fax revenues end molt elOYem fd%e! t0 the Baartl pf Cdun1Y moneys legally ovaF7able inerefp, ihPn Me Commissioners df Eagle Ccunfv, Cotdredo, Town Is aulhorketl Io use any revenues whkcn taxes, In atltllflon l0 dl! alnOr taxes, rlmalnin9 Irpm roe waiecr pletlpetl Sales wnen levied on an al the taxable properly In fax reyenu P3 for Omer pVrppsr3 fbyl poly tt>e Yawn. In each of the yeen 197E 10 1096, eller all of Ine tledl service sin saitl general irsclusive. wiu rain ee valorem tax revenues odligation bonds paYaole Irom saitl pletlgrtl wNlcient to mexe such reimbursement end !ales lax ravenun na3 b¢an lolly pravltlltl ro promptly meet dntl pay such Bond rot In sate Nscal years. fncldainq, bus not principal aria lnteraal payments as ilia sam! limited l0, payment at special stgn~generef become tlua. sdttl la%!s When colllCred fhdll ba applith7 ghlfgati0n bonds. which soeclal nangeneral aplely rot the payment Of ilia Interest ort cent obi{yatidn bMds In dny event, shall not b! on e sn bOftlindle dntl u b S i li prlnelpal of said Bonds, re]pecfivelY, until a e u en a parity W l interior ro me General Omsgalion Banes, Ilia Bonds, 4gzn es 10 prlnckpal entl Interest• sarle3 December I, 1977, with respect to ihs Snell be Fully pe{d, safl311etl and tliuM1art7ed, sales tau revenuer herein ptedgctl: provttlea, nowevar, mat naming heron sq Ianq b! me General Oquvetion Bondi, cOntalnetl shell he 5o [gnslruetl as l0 prevent Belles OCfemfxr 1, 1977, remain OUlSland[n9 the Town from commlMlnp end ap-{YIn9 any and ungald. lM1e Town of Vail snau nor repeal Olnlr 1YntlS O! reVentle3 Ihdl mdY nOW 4r Ifs O[d lndnfe Np. 11, 5¢iiC3 of 1977, entl fha hereafter he In the Maewry of rhs 7owm dstd Town shall n01 amend said Ordina Ma IM1 d IlgdIIV evailablr for Ihr pVrpos! of pdyln9 mdnnrf wnl[h, laking imp account orner me interest pn or principal of Said Bontls, en h revgnue of ina Tawn wnich is legaity et suc ana upon the eppncatwn of env g aedlearetl and avauabte to pay fha prinUpal rands ar revenues d3 awresa d, me levy Pr and inlereal payments on send Bontls, woultl levies for as valorem faxes herein provided IheYlVpon be tlimiMShed 10 the a%1lrtt diminim the rlyanYa aecurlly far Bald mdY the requirements for loco Bona prinUpal Bpna]. kolhing In IhY! Ordinance Shall be ant interesS gduminrs !Or IRe panieYla! COnslryetl In 5V [h manner ra prevent ma year are IhrreaY aim{nlahetl. Issuance by the Town of Vall of atldHl0na1 E. Ngl Wlthlldndlnq shr fOrlgolnp nOndt Of dnV ndfvfe, prOVitletl that saitl provlslon] !qr ad va totem lax IevkS, the addllional bon03 are issued in a manner Town nereby further covenants alto agrees cOn Si3lCnt w~tn 1hC pravisi0nl and matso loop a3 the Bonds prgvltled for herein limilanons staled herein with respect fq the female aufsfantl{nq antl Vn-eitl, N Will levy, sales fax revMV43 herein pl¢dped. administer, enforce and collKl me sales tax q The sumtherelnhefarl prdvidetl l0 melt aulhwizea by Grdinance No. 11, Series of the inzrrest on Sara Bontls arW fo dlscnerga 1971. 1g The extent U an amount to be not less Iho prlndpel rheregt, wnen out, are hereov thanlpercenl dtgro]s receipts tlerlvetl lrom d EpprOPrfetetl far that purpose. and said me solo of rarromte la•rtdnal pralaerry an am9unrs Ior each year snap be inUUded m the lurnishlnq dl services now 9r heremlM Iha annual budge) altd Ine dGProprlahOn subject fg saitl Sale! tax. The Town Pf Vdll prtlinenc! Or meal res f0 Ix adapted or has prwlgVSiy Issuetl Its GMrral Obngatldn 1 passed by ina Tawn council of me Town In 0n Bonds as 10110Mt ifs General OCIIga1 each Year respectively white ant Or ilia BOIItll, series November 1, 1973, aVlnarizetl Bands herein aufhofitctl, either es ro gy Grdinance No. 19, nation of 1977. In Ine principal or inferCal, ere Ov131antlin9 one original prlncipat dm9vnf of S1,IXN,gdgi ^t unpeltl. No provl5idn! of any cdnsu}utI011, GlPeral Obllgdltgn BorStlL serlea MarCn 4, statute, charier, ordinance, rewfution, or 197/, avihOriletl by Ordinance NO. T, Serl93 other OrtlCr Or mOdSUre enac7eq direr ilia W 19r a, In the Pf lgindt principal amqunl Of i35udnCe 01 the Bonds RPleln aumOrlild fS,SOq,gggf N! General Ob1lgati0n Reluntllnq Shall In any manner be <onSSrued as limiting Bonds, series 1074, tlafetl November I3, 1974. or impairing the 9oiigali0n gl Ind Town to sWlwrl[ed by Oralnancr Na 21, Serlrs ~ I¢YY atl velOfem Ia%eS, With0V1 Slmifah00 Of 1 Wv, in the Orl9lnal prtnclnat amount U rate dr amount, gr as umeing or Impa:nng L,6aq,t100, watch Rsiundinp Banos rcfundetl ' IRe obllgellan g7 me Town ro levy, s me full ourstarwmg amount of me Town aamini slat, enforce antl couect Ine sale! tax General Obngati0n Bontls, sene3 Novambef as pravitletl hereto for ilia payment of the 1,1971; IM GMeraI OOligatVOn Bontls, tErieS priMipol of dntl lmelnt On ihs BOnd3 nefeln pecember 3, 1975, eVihdrlZM by OrdlnenCe dVlnOntetl. ' N0. 71, Series of 1975, In ma prigingl II snau ne Ine tlwy of me Yown Council Obfl Gallon 00nds' Serle6b 6eplemberG~197a1 annually at fha time and in tine manner T aVihOf l[ed by Ordinance No. 11, Berle Of awn prgYidetl by law for IevYlnq OInBr n ss r tp i R b 1776. In the oriq Enal pM1nclpal amOVnf of ¢[e on S a 11 e d V texe], II tv Ch act of (etluale Ili! provisions a! foss Ordidance. S1W.000; Ifs General Oel,galion Relundlnq l0 redly and carry gut ine provtslons neregf Bandsaafes November 1,1976, aufhori[etl by 54r1S PI 1976, in the 78 n e Nq di G wdR ralerenC! 70 the levy ant [oltecli0n df , . na r c sfrtgtnel principal amoant nl SbAvs,g00, Ine ad val9rem one sales taxes nerein specified, ono l0 require me alhcers of ana tMllch Refunding Bands relundad Ih6 lull ' Iqr the TCwn fo levy, extend antl Collect saitl s General gufslandinp amount of 7ne Tdwn !axe] in me manner provitletl by sew for the Obllgallon 6onOS, series Marco I, 19]4 and purpose of provitlinq mnnq for ilia pavmenf Sarin December I, 1975: ana in General 5977 rie! Mav 1 a S of Inc principal of the Banta aurhgrizea , e Dalipatlon BOn s, aVlhorr[etl by Ordinance No. I1. Series dl ' I r 1 ace: din thereon herein antl the In C e] 9 i l b 1977 in }h! ONginal pfinClpal amount Of ecome ve y, promplly as me same, respect Snell be kept wnen cmlKred ld texas d s f45q.gad fall di se fa prior hones being herein . o , ue. for dntl dPplletl amy f0 Sne paYmenl 01 Ina !elarred 10 e3 ina "Prior Bonds"I, The Town ~nleretl do antl 9rincipal of Bald aOfttls as hat Covenanted and dgrertl. in ladh of fh! herCYnbe7ar0 speclf ietl. OrdtndncH for said PfIOr Bondi, IO pletlq! atW sef asltla all ilia sales sex rlVMVes 10. The TOWn [OVenaMSwilh fns noltlerl Of f E l l 61 f B by S ld pl]eulhatlZM per[lnl 0f prOSl fKN a any time durtnp the lhl 00nd eds pF prOC OrtlinenC! N0. 11, series al 1971. tq pay IRe 1lrm IhereoF wnich, it such use h6d bran inleresr qn ana the principal of the General reawnanSy exPecretl gn the Bare the Bontls ObliganOn BOnd3 end General pb119allan dra ilSVCtl, would nave caVSed IhC Bonds t0 Reluntlinp Bones aulhortsea thereby. saitl be arbi}roge bonds wtmtn the meaning of Oralnanees for me Prldr Bones provide 5ecron 1g7Ic1 of the Internal Revenue Cad! further that said pledgetl sates rev revenues or wsx, a3 emended. end rho regutahons may dew be pledged ana usetl 'for me proposed fncreunder by ilia United Stales payment df me dabs service on ant orner Pr Treasury Department. unless, under any t h lst el bl 1 lO 1a c r s e I r P n uetl gn a be Vall hich mdY o1 Y0Wn s l ll op 8gnd3 Cal on flie p !e ntarett parity WI[n aald Prior Bonds. The Town of rxNUtlable Irom m! gross Fncome of a t Vast wyfnenfs ant agrees shat a6 me sates ax - recipient meteor for leaerel Income tax ravrtlun tlerlvee from onehel! of sold 1 purposes wllaoul re9ertl to whether pr tort pe/Clot of Said grOS1 fecelpr! a5 aVfhgrizsW !V[n floods are arbitrage bonds, or {bl shall In OrdMarKe No. 11, Series df 197]. 4hall 04 bo exempt Irpm ell 1Cderal income laxaflan. ant aerebY era IrrevOCdbIY and SgICIY I1. All eclian hera7010r¢ taken by the YPYm predped dntl K1 asltla 10 pdY fha Interest all of va{I and by iRe oRlcert of the Tovm not antl Ine princtpal of the sublKl General inegnslseMl Rerewirh tllredletl fbwartl the Obllpation Bontls, serial Oecembar I, 1977, aumorltatlan of ponds for IhC purpose Of a! the same becomf tlua ant payable Irpm provitl[np [antl! to tletray, In whole Or in year fq veer, del a pertly wnn Ine town's part, ilia cost of pravlaing an Ice skating gbllgaSlon to pay lrOm 363d !ales /ex afCne~mulf i~pVrpOSe Id Clllly, of acqulring a revenue the Interest on antl me principal of see for a public works maintenance faciSNY, Mar Prior Banes, provltl¢d Ihet: entl al eegvifinq teal property 1d be Used as Thr said pletlged sale fax revenues A l . o F b s . mat also be pletlgra end used la 'ma r mea n y rafifletl, approved cite c I nere ' _ _~ II,II . L...., '- . The Pilgrim Ranch WEST LAKE CREEK South of Edwards, 17 miles west of Voif, this property is one of the most beautiful in the Lake Creek aroa. 280 acre s, or I©ss, excellent water debts and owner fina ncing. Ranches in the Gypsum and Edwards Areas Also Avallabla . Slifer and Company Rod Slifer Dick Bailey David Sage Bob Kendall Rob Ford 476'421 P.O. Box 1248 -- Voii, Golorodo 81657 ewNCavll~t. .,.... ~. ,.~,~.,. ,,..', .II,~ / The Vail Trail ~7 December 9, 1977 Punueni la rnr UMlorm Facsimue li fanner tlfttribee as: Cgtoraao spaclNee In paragraph 111 above. . Siena}ure of Public OlltetalS Aff, pool of . Lotatetl within the HW"~ Of Section 9, iNTR00 VCE D. REAP ON FIRST erf lcle 55 OI i.tle 11, Cdiaredg Reviled T3Wn5hip ] SV Wn, Renga ed welt of ilia em READING, APPROVED ANO ORp ER ED Steluf e! 5971, 9riof to the ae le al 7M1e Bontls p M„ a[cOrtlinp lg iRe Survey Of Sa1d PUBLISHED ON CE !N FULL Iht]ain tley df l aulhOrited nerein, [neM aa! omen Or WIII Ise Township and Ranee bt apprOVetl by Ine i OKemper.1977, ana a Wonc hear,nq pn so filed with mr Coloraaa secretary df stale a us, surveyor General m Genver, Colorado ormnance snau De nela e+ me regwer ! F acaf mute signelure Cef Nfi[aie aeartrtq tae pn peril l3, I ey7; to wn: mMt{n0 of the Yawn COq I%II M 7ne Town O m anuat atgndlVfes of lobo A, popson. ln! Beginning at lhl NnnnWest cOrnlr Of SAId Vail.Colorado. ort ene loin day di DPCOmber, Mayor of Ine Town of Vatl. atld Ca11CEn section 9, thence 5 69 degrees 31'19" E 1977, at 7:79 p.m. in tilt Mynicipel 0ulltllnQ K line. the Town CSNk pf saitl Town. Cerlihetl 7773,81 f¢et. aionq the Narlh Ilne Of Selo Of m! TdWn. by Them under oath Said lilinq IS nCregy SeclltMl9, 10 d p0,n1 on fha nOrrnerly right Of TOWN GF VAIL rahned, approved entl <onfirmetl far the way fence one of mrrrstare Highway No 70: Rooney E, sister qurposeS of itluinq the subiect General chance along rhr mr}her1V right of waV Maya! Onilgaflon Bands. Series OKembcr 1, 1977. ~ lenceline ql interstate H+q hwey Nd. 70 as ATTEST: 1T. Tne officers U the Tawn are hereby mubws: Coneun 9c one avfharl[etl ono dlrKfs.'d ro enter Info Suth_.. 567 tlegfe¢511'37" W 115.E fee[: lhOnce 5 Tawn CIMk apr¢Vmpnf9 dntl lake all acti0n necesldry bra: IE degrees 11'07" W 1531.191e¢1, m dPOinl Of pu0hshed in Tha Vell Troll on DKember 9, appropriate 10 eHKtuate ene proVi5lanS Of cVfvature: manta a5e.a fee[ On a curve ro ],777 this Ortlinente and ro comply wllh ilia rho right wllh d raatus Or 55&7-qd feet, me ' " requ'vemenlS Of law, InClVding, wllhout 78 W cnoftl of wnich brats $ 60 tlegrees 73 Ilmi}Ing mC generality of the ldregglnq: 456.30 !eel fg a point On Ili! Westerly lint 9f a. The prinllnq dl 7ne Bontls nerein said Section 4: the nOrmeny right of tln ~®~~~~ ~ ~ autnorNetl, incfutlinq iRe pnnrmg upon ea[n Of ]VCh Bontls Of d Copy Ot tae dpprOVing q TherKe depaf way Fennel the of IniCrslaf! MignWlY No. 7a (~ 7V BO i.P opinion of Mltlr], DeMYtn and Eilserger, and falloWlnq the Yle Stlrly lino Of told f " ' O 7] OR bond COUn]¢I, ddly CErfifietl by me Yown eerro Zl E%5.11 Sectipn9 NOp tlegree518 . 9erira asEn Clark; and The exKYtion of Svth Cartiflcafls as P the P9inr aF beginning. Eaeo pdreel 01 land cOnldine 17.175 d[rel, AN UR ptNAN1.E MAKING A SV PPLE . may be reasonably required nY IRe mare or lass. ~ MENTAL APpROPRSATlON FROM THE 1 ih! Bond] retdfFnq f0 iRe r P h P76d the ti n Is gs i s RURAL TRANSPORTATION DcMON~ urc ase 0 ilia !enure and ltlenhtY i dfh BOntls l . . n ec o 131 At prdvidetl the Zoning C tl ' STRATtGN PROGRAM FUNDOF 7NE1977 ng gn S C r In@a55etsetl yatVallOn th T rl l O C, ll Mvnif ipol Vd directed Sp BVDGET ANO FINANCIAL PLAN FOR tCIa e awn O 3. of antl indebtedness of the Yawn, receipt at the pP minitif dtOr i3 hereby promplly modify and amend the OIIicMI e Turn fG Page d8 pl Bond purchase price. and. If in accortlance Zoning Map to indicate me rezminq eas w,tn ln! fd Ct S, the aa5ente of Ili igellon, pentllRg Or fhreatenM, alfectinQ Ihr vakltllty al me Bontls; and , ,e,wm..... ., .. .. .: •.: .r.. [. Th0 making Of variOVS Sidremenrt, _ ~ recital e, terSiticefi0ns and warrantlet ,_ i _, „~ .. prdVftlCd In }ne !arm OF Bond set fond in loan , .••~«•.k. Ortlmance; ana ~ ~ , tl. The preparation antl execution pf a 4ma S _ r..,. • - • ~ re li minor pHrcl al altering broc RV re, p Y s °- ~ ,_ ~r'°` 51a1¢menl, elf iii al 5ldfem Cnf. Or a1lCf inq 'Ya ~ , Urcmar, If any such is to ae preparetl, for ~~ # the use of prospective purcnasers of me l+ -+ T hontls. inclVdinq, w~rhout linitafi0n. the original purchaser, Kkrnner, Moore antl oY ~ '>- " "'` ,~ ~: ~ Company. Denver, Coloratlp antl Its , assgciales, If any: antl ;. ~ "' > ~-" e. A Sldtemint COntlrnin9 the d[CUrd Cy ..acv.'--' ~ r ana CPmplltene59 of disclosure of F , ,,, InlOrmafian provitletl In ant bond offering S -Y ~ , nracnure, preliminary oN~cial statement. .,r-y, ollicial slalemenl Or atlef n9 Circular lOr y ,. _ prospective buyers of the Bends. I* c There Is nereby .,pprepn.++ed artd set u ~~~„ '... ;~_ ~ r . 1 '- .. ~ ~ , . aside from env availaole funtls'r revenues ' ° - - of IRe Town o[ Vdn me amavm or amovnli r nlCp55dry td pdY ell [OBIS dlld a%pen5e] Oi Soso Genafdl lt i ~ ''.y„~,~-.' ncidenl IO !ne l5ua te DbtigaNOn Bonds, series Decemper I, 1977, 7 ~ - - ' IRCII.'ding, huS nor being limited tP, any ~, ± _ _- pubitcation. IegaLana lineal agent casts and ti . ~~, ~ '° , expenses. F - is. Alf ordlnancn, acts, ortlers, °" " r ~ ~ ti -'~ re50tuzions, ar Paris thereof, taken by iRe ~'.'6'%i`i ~'s~ xa;E,;,•;r ,,;i ...~.,..3 - •=a.i.~?=+.,=i... TPWn of Ydil ant i onfltCt wish mss Ordinance are nereby repealed. except mat t d Sohn Beck is Larry Douglas and Marie-France P'isier is No2ife in sb as o this repealer snail nqf be construe ac>. order, resolWiwt, r¢vive any ordlnance 20th Century Fox's somatic melodrama, "The Other Side of , . pr pan meredf nerefnrore repealed. " which opens tonight, December 9th at The Minturn Midnight ib. This Orainance is, and Shan conanfYre, . Rat Vallone and Clu GDlager Susan Sarandon A'Spvkra theatre a legislative measure Of the Town Of Vall. nd dual the Bonds nereby aufhOriZeP ere . CO-Bt@T. , a Issued. said and are PutstaMinp, this . Ordinance snarl constitute a confratt between the Town antl Iha ROltler Or nglOPrt al said Bontl S, and shall be and remain _ irrepeatadte until Sala Bends antl the intCresY acct Ving fhefe0n Snail nave been - ~ ~ -- - - 7uliy Paid, sarlstied antl tlisChargetl. 17, Tne proper olficers of the Tawn Pr V alt, Colorado, are hereby aufhonzed and „i~ Vail Trail's dirxfed tq pay O< CaVSe td be paid ilia - interest on the Bontls heYein authorized as ~v} rhr same snail accrue, and ilia princtpal of ±l JS Annual 'd Bond] of maturity wilh0ut lusher 1~7a sal . warrant qr artler. Is. If any paragraph, clauseor prevision Pf IhiS Ordinance i5lutlic'dllY ddlUdged invalid yfa~ aaa111~~p ~ or unenforceable, sucn iuagmer5l snarl nor ~~ j z of}act, impair Pr invalidate the remaining -dragra Rhs, cid Uses or provtsioni here0l. iRe Intention being loaf ilia verse VS - N paragraphs, clauses or vrgvlstons hereof are e severdble. 19. A public hearing On }Ri5 pr01t094d - OYdindnteSndllbl held Sly me TOWI1CWnC31 ' d17:3B p.m, on TUlSddY, December 79, 1917, veil iltlin l B You are Cordially Invited to enter the Hrst Mnual Vail , g, Y of the veil MYniupa ana tr i! nereby grdnPa rear Colorado raphy Gontest. No entry fee is il Amateur Photo T , notice of said nearing be Qiven as requlretl g To ou may enter up to 6 phptogrdphs nd i d by law. SSED ON Ff RST re a Y requ Minimum size photo accepted will bee per person IN TROpUCEO, PA REAPING, APPROVED AND ORDERED . 5x7 mounted an illustration board, or equivalent. PUBLISHED ONCEIN FULL THIS bib day Photos will be judged on artistic merit composition, of OKember. 1977. th b'I' t roduce well in the TOWN OF VA3L Rodney E. Slifer Mayor ATTEST: Colleen Kline Town Clark - Pub[EShetl in TM Vail Troll on December 9, 1597. ~19iI~01C ~®'$!G~ ORDINANCE NO.A Series of i9rr AN ORDINANCE REZOkING A PARCEL OF PROPS R7Y LOCATED IN THE NW'/. OF sECT10N 9, 755. R69W OF THE 6th P.M. AND COMMONLY KNOWN AS THE N OR7N PUtls PROPERTY, FROM EAGLE COUNTY ZONE OI STRICT "R ESOVRCE" TO TOWN OF VAIL ZONE DISTRICT "PUBLIC USE". W HER CAS. the Nonn lauris Properly nos recently been annexed in 7ne FRwn al Vall and was zoned by Eegie CourMV dt Resource": WHEREAS. In a[[Ndance with section lE.b6.n0 of for Vell MunlUpal Cade, a rezoning nos been Initiated by the Tdwtt fo Veion¢ Ih0 North Punt PfOperlY tp "PUbn[ use••: WHL:REAS, ine PFannlnq COmmis57on o1 the Tawn of vats nos considered me same and recommended appravat o[ taltl rezonlnp Ip me Tpwn Councu; and WHEREAS, rnr Town Caurcll [omtdKs mar tt 1s in shr public Inrerrst fo rezone said properly: NOW. THERE FOR E, BE IT ORDAIkED 0Y THE TOWN CGV NCIL OF THE TOWN OF V0.1L. THAT: nl The COUntll lpKNldally flnM mat the prxedures Tor me amenemenl or ina OfnUaf ZeninQ Map and rezoning of proper! Ees wlihln me Yawn of van as prPSCrkbed in Section 1e 66.110 p! ilia Vakl MunitipdS Codr have been lulltlldtl, dntl the COUn[II hereby ~rKll Yeb the re{larl and ret¢m menddtlort of SAO Plannlnp Cvmm~lston recommendfno the anprpvaE m zee reroninq of me suai act promrfy, t71 Pvnuam m SKnon l e ee [60of Ine vau Munl[Ipol Lddf, the FpllYw~nq dCXfi0ltl pdrfll ii rl19Mtl NOm Ee01e County ~- "R eSOVrc!" 10 Town W Ve,l "FVOSit Use": A Par[el Di Land In Eagle County, ~pnnt quality and e a I Ity o rep newspaper Over 5450.00 in prize money will be up for grabs in trie total of 6 divisions. Sorry. • .but the contest is open only to amoteuTSand Eagle County reSldenf5. COLOR ,BLACK & WHITE 1, People and S#ill Life 1. People and Things 2. Sports 2. Sports 3. Nature and Wild Life 3. Miscellaneous and Photojournalism S50.OD First Prize in Each Category S25.00 Second Prize In Each Category Third Place -Honorable Mention a ~ DEADLINE FOR a, ALL ENTRIES j ~ December col 1977 `' .fudging and Show •' To Be Held On December 17, 1977 Submit All frntries To: The Vai! 'r'raii ~~ r "~ uilding ~" ~ Ga© Creek P qza B ~,1 ~, ~ Y,...t~aa ~ t r~•~ ~ .r"8.. A. ip j ~e. ... .. ' ,r ~. ' i t .. . . Z_ . 4~ The Vail Trail ~LI~i~IC ~'~O$ICB OR OINANCB NO, SI Series of 1177 AN OA DINANCE TO CONTRACT AN INpEBTEDNE35 ON BEHALF OF THE TOWN OF VAIL, COLD RADD, AND VPON THE CREDIT THEREOF, eV 1557JINO GEN ERAL OBLIGATION BO7I DS OF $Alp TOWN IN THE PRINCIPAL AMOVNT OF s2,730A0g FDR THE pu RPOSE OF pEF RAYING, IN WHOLE OR IN PART, THE fast OF PROVIOlNG AN tCE SKATING ARE NA~MiI LTI PURPOSE FACILITY,AND OF SO DEF RAYING THE COST OF ACQUIRING A 517E FOR A PUBLIC WORKS MAINTENANCE FACILITY, ANO OF SO DEFRAYING THE COST OF ACQVIRING REAL PROPERTY TO BE U5E0 AS OPEN SPACE AND OR RECREATION AND PARK LAN p; PRESCRI BIND THE FORM OF SAID BON OS: AND PROVIbIN4 FOR THE LEVY OF TAXES AND POR THE APPLICATION OF SALES TAX REVENUES OF THE TOWN OF VAIL YQ PAY 50.10 BONDS AND THE INTEREST THEgEON. WHEREAS, a1 a special election e1 the quallflcd, registered tlecter7 of the Tpwn of Vail, Colorado, tlUIV [aIICd antl held an TVesaey. the 41n day or October, 1977, In accbrdenca with taw entl pvr5uent !a ova rgiite~ mere were fubmilled 10 Shctl fleclM3 iM lollowinq questions: .1. Its 5ks11np grena Mulfl•PUrpose Fedllty Bontls, Ovestlon Submittrtlr "Snag tea Town q1 veil, Colorado, be 1u7Rprlaed tp t5sva Ifs negp11a0te. Interest bearing panVel tlbllpali0n bonds in ene fortes ar more {n an aggregete prmclpal amOUM MI 10 eKCeltl I I,BDO,IIW, Or >D moth mlrebf es meY W ne[eSSarY, far the purpose W defrayfn4, In whole or In part, the ease of aCgulr lop, tbnaffYCllnp, Instating dnd equlppinq en enclosed ice akatlnp arena antl multl~purp0ea facility sulfa bee for fErlvan/Ions, tOnCert7, lxhlb9tibn3 entl IrdPe shows, together with all necessary lnclaemal and appurtenant properfles, atry0lVrel, 1ac11111lS antl cOSta. SVCh bonds 1P bear Interest at a maximum MI elfetHVp interest rata opt txCtttlln0 70 percent r entl tp mature Serlally Outing e per11M b not moo roan 70 veers from me deft Or respeclWe Bales al Tne bands. such bands to be payable From general ad valorem taxes and omen tootle legally aYallable me/e1dr,entl sucn bonds to be sold and Ilsyed e1 boa tlm! qr from }Im! 1011ml, in sUCh mdnner and am0uni5 dntl upon such farms end [ondlti0ns as the Town CoVnCIF may later determine, Includlnp prpv Hlan! pf a premium not exceeding 7 percent of the prlrlelpal thertplT" Z. publlt WOrNS Malntenence Facility Sue Atqu{slllon Bondi. Ouesflon SuhmlNed; ••Shall the Town M Vell. Caande, be auehorized to Issue Its negotleble, Interest bearing general gbllpat[pn bands In Pnt xrin Or more In en agOregate prlnclpak arnaunl opt to exceed s15a,0oo, pr 5P much therepl es may be necessary, for me purpose Of tlclreying, In whole or In part. me cast o! atquirlnp a parcel of real property, xnowrt ea Iha Pyles properly fp be y5etl as elite for a prOppyed public work! mdmlOnd Me la[ihiy, logelner wile alt necessary Incitlenlll antl appurtenant prapertles. tdcitirie], and casts. sucn bonds rp bear ImerrSr at a maximum net dtedrve imene]r rate not excreainq 30 percent per annum, antl f0 mature Serlally during a cenotl of not mare than 70 years !fpm In! Odl@ pr re Spr[tlVe dd1P,! pf In4 hoops. sucn bonds Ip o! payable From general atl valorem faxC] dnd 9SR¢r lund3 Ie9auv avadanle mer¢tor. and sucn bond! to Oe sold ene n]V!d atone Yme or from hme fo rime. in sucn manner ana amoums .led upon such farms and cpntlition3 as rh@ Town [oVntil may Id}er nelermrnl, mclutlmq provi510M for the retlemp}ion O} bend! 9ri0r Ip ma WrirY VpOn payment of a premium not ceetlinq 1 percent of the pr'rnUpal thorepf7" 3.Open Spe[t AtQVfsHipn Bondi. Ountlon SVhmitt¢tl; "Shall the Tpwn of Vdil, [bldrddp, be awnorized to Issue ns neponable interes! bearing general Obkigati0n bMd3 IM1 One !¢rte! Or more in do aggreqelC prin[ipol amoum not to exceed 57p0,ppp, or so much 1hCreOf as may Mnece55ary,SM the purpoSp g! delraYing, In whole dr in part, Ine cost of aCgV{ring a pd fCll pi real Arppeny, known e] Klnq Arth Vr'! [qYn. tp ha used d! Ppen Span dna pr nCrlat{On dntl parr land, togliher with all nete5sery In[Idental and appurtenant prpprrtie3 and 1e<Iliiles. arid !ht call! rncitlenlal thereto. Such bend! to bear inferesl at a maximum eel etieCtfv! Iniere5! rate not exceeding l9 percent par annum. antl to mature Serlally during a perl0tl aF not more than 30 years irpm the ddfe or rellrective deter Of the bonds, sucn bonds to b! pdYd01! {ram general ad Valorem !axe] dntl OIhCr fand6 Ipgaliy aYdllabld lh¢rlfOr, dntl SU[n a0ntlS tP a@ sold dna Issued dt one rims Or From 11me 10lime, n sucn mdnner and dmPUntS dntl Upon SUCK terms dna [OntlltEOn! d! ih@ TaWn Cbuncll may later tletelmiRC, Including prOVi SrOn! for the retl@mpllon of hoods prof to metvtity upon paY mint al a prlmlum not exceetllnq 1 percen} o! the OTIncIpdE inareol7" - and WHEREAS, as avltlenced by Iha canvass 07 m@ nturn3 0! told lleCtfOn, more than e malprity pl Seltl elKipr] vpiFnq On each 0! sold que5tl0nS VOtetl m fd Yar b Issuing sucn bonds; ana W HE R EA3, Iha Tpwn C W RCII of fh4 Tpwn a7 Yaii has determined, and does Mreby tlefermine, to issue at this time 9@n@rdl ehllgetbn bends for the purpe5es evthprired by Bald el@ctprs e7 rem tlecnon, In a total pre nc Spat amgunl of !2.750,000 ("the Bonds"1, as nerNnafter set forth rn this Ortllnance; antl WHER EAS, a propo3al lo-r me purchase M fha Bonds has begn received from Kirchner, Moore ana Cpmpanr, Denver, eoloradp ("the Purchaser"1, upon lerrns favonb}e to fha Town, worth the Town CounCll of !Ra Tmwn pl Ydil brie tlulY tletermined tP, drd Mflby tloel, accept: end WHEREAS, punusnt fp Ordinance No. 71. SCrles of 797] of the Town p1 Va11, there was submiltetl to the quallfletl, registered 01KIPr] Pf the Town of Vall, at a aceciel lletNOn nrltl On IM 25m ddY 9f Sepl?tuber, I w 7, She que5llon of f ne I moollllon of a Sales taK on the sale of tangible personal progeny dt retei{ and the fprnishinq Prservlces within ~ecemher 9, 1977 regular rtumer#cal order on December 1 b7 eacn year, antl shall bear per annum "A" Cpuopn interest from December I, 1977, M the mdlVfi{y ddfe of eacn BOnb. lxcepr it retlnemetl prior fnerete, as ,ntli[atetl in }he IOnpwing fdOb. Sbitl "A" coupon Inrera5f Shall r,e payable DPCrnlber 1, 1976. dntl Strmi~ annuahy toerealler on trie Isr day of 3une anp me Isr ddY Of petlmber OI racM1 year. If upon pre5enlallpn al malVrilV payment of the printipaF amount of any Bontl is not made d5 pIPVICetl n¢r01 n, inferesl shall [Onlinue a3 the "A" COV00n tale Stated that Bin until payment PI veld printipol amount is matlrin tun In dddni0n. an Banes shall bear per annum "B" [9upOn inllrHt For the period Irom March 1, 7978 10 December 1, 1979 only, as intlicaletl In mr fouowing table. Sold "B" rouppn inferesl shall be payable Oe[amber 1, 1978, June 1, 1979, dntl Oetembrr !, 1979. ~- E= 4° pG =c ~ Gq i ~~ trF ~ ~~ ds m w r,A.. ,.g., 1707 7979 335.990 6.5 1.S e 1016 7960 45,1300 6.3 1.3 17 tp27 1983 55,000 6.3 1.3 7s 1040 1984 63,000 6.3 1.3 al 103$ lggl 75.000 4.3 1.3 561677 798! 85,000 6.5 1.S T71o 91 ;qg,5 95,600 4.5 1.5 94 !0111 7986 100,000 6.S 1,5 [1710 173 ;9M 110,000 3.0 3.0 t7a1pIA 19% 140.000 5.1 7.9 !9d bIA3 1909 170.x00 $,7 7,8 18410211 1990 IEJ.ilC0 5.7 2.7 211 t07ax ;991 133,0•JO 3.4 g.6 747 TO 775 t99a 765,000 5.3 7.3 47610710 3993 17S,OW 5.5 4.3 311107E 1994 185.090 3.0 2.1 3!810786 !993 79$.000 SA 4,a 387 tp a7T I9% 2x5,000 57 7.3 47810 J0 1996 21$,000 S7 7.J Payable for iM period Irom Maven 7.197E to December I, 1979, omy. Bonds of this loos numbered 1 through 197. inc7utlive. maturing on ar before December 1, 19~, are not retleemdbl! prl0r 10 their respKfiYe mdhlrity drifts. BpndS Pf this issue numbered 534 through q0, inclusive, malurinp on Oeeemeer 1, 190& ana thereafter, are redeemable at the option Of ln! Town Council on December I, 19®, antl ore any intrrnt payment date Iherealrer, {n inveYSQ numerical order, di a price equal Ip Shp print}pal amount 01 Gd Cn Bond 50 redeemed, pIV3 accrued Interest ihlreOn 10 the redemption date, plus a premium qF tutee per Can W m f3 pelc¢nt9 pf the principal amount of each Bontl sa redeemed. NP79ceof env redempton shall be given by the Tpwn clerk in 1M name of ihr Town of Vail, ty publication of such notice of least one (11 rim! by ana [fJ publ[cailpn, Suth pubucanon befog opt less than m{ny 1301 days prior rp the redemption ddfe Sce[Itletl Fn such notice. 9n The VaiE Troll, Vaii, Calprade, if then in business antl publlSHinb. ana if not, Then in a newspaper of general circulaNOn in the Town of Valli and br sending a copy of sucn notice by certified Pr le9istefetl fITST[Id35; I)OStage prepaid man, N 1ea51 thirty 1301 days prior to me redemption daft, !a me holders Pf ¢a(h of the Bontls being redeemed, d she names dna dddresse3 Or 5uth holders are rECOMed with 7h@ Town Clerk. Far mis purpme, the nclaer of any such Bond may at any rime furnish his name antl address re the Town Clerk. Such notice shall specify the numbM or numeers 01 the aands so to be redeemed and me sate Iixed rot rtaempTian, dna anon mnher state Thai on the redemption date mere will became ene wet be due acid vayable upon each Bond 50 to lx redeemed the prlrsdpal amOUrttlheredf plus a[Lrued iniprelt on 5aitl prlntlRal amount tg the retlemptian tlafe, dnd.mat from drd alter SVrJr date Interest win cease to aarue. Anv Bones redeemed prior to their repretive maturieies by call Ipr prior redemp79pn pr pfMrWiSe whoil not be relswetl antl sna3[ he [arx:enetl the Same ' as Bonds paid at a e/tar maurity, 3. Th! pr9nclpa! ef, Interest on, arW arw premiums due m cgrtn@ction with -Ine retlempllon of the Bonds shall be payable in lawful money d the united Stares of America without deductlar for exchange pr collection charge at American National Bank, Dpnver, Cosgrado, which Is hereby dnlgnatetl the paTfng agent fw this bursa issue. Tne oat eHectlva IMeres! rate on Bands of MIS i65Ve is S-59x716 portent. The Bands snaH be general abllgat[ens df the Town pf Vaa, antl shall be payable from general ad valorem taxes without limiralion as to rate gr amount except as then may ac7uelly be pall from tuber revenue as pnvltled Herein, d. Said Bends shall~be <xecvred in The name end on behaH M 5aitl Tawn with the lacslmlle signa7un M Its Mayor, shalt bear e facslmNe of mE atal0l tM Town, shall ae atested by the manual signature pl me Town Clerk of 1He Town, antl eacn of 5aitl Bontls snail bare attached 7hent0 an appropriate number of Interest coupons hearing the laesh'nVlt Slgnaevre oT fho Mayor, 5aitl coupons shoo be numbered eonsecWNely warn one upwards for eacn Bond as appropriate. When Issued es afOreSlltl aS part M said Bonds, 5aitl t0Up0lH shall be Inr lawful binaing promises antl 'oallgatlon! of the Town Accartlirtq t0 theft Import, securing me payment o! interest as It occbmes tlua. Should any officer wMSe manual or lacsimilt signature appears on, said Bonds Or 1M iAferHt t0upons attached thereto cease 7p bt aucH dttfcer before tlenvery of the Bards To fha Pvrenaser, such manual or IeCSdmile signatyr! shell Mvertheleas t>< valid and sufficient la all purposes. S. Said Bonds and TM Interest coupons attached thereto still Ise in SubstamlaHy the fotlowlnp form: set of beater Interest coupons tlesrpMtetl "A" hereto attached at the rare of par crnivm I rKreeml per annum, payabf! Oecember 1, 3478 and yemiarmuelty Iheredf ter On Tne 1St pdJ al JuM drib IM ISt tlav o7 December of eacn year, nryd ddditi0nel merest, '7r me period Irom March t, 197a in December i, 1979 only, as evidenced by a set Dnp Set of boater ,ntere]t coupons designateb °&" hereto anecned et the rate of @ntum percenfl per annum. pd Yable Drcembar I, 1978. June 1.1979, en0 Oecemne! 1, 1919, TM principal Pi, Inlere5f on, and any premiums ^V! in (pnnlchon wpm the rW emotion of the] Bona are aarab+e wnncvt aedvcNan tw lx Change Or [dIIeCli0n Cndrges a! Amlrl[dn National Bsnk.- Denver. COlprad0, upon pre5ema11on and surrender Pf said COU p0lS! and this Bontl es they severally become due. If upon prlSentdtivn at metV rily payment dl fRe principal dmquM Of IRIS 80nd i5 npl made, interest snau continue ar me '•A" coupon tale Stated herein until pavm¢nt of sold principal amount is move in full. Bonds or mis issue maturing On Or before December 1, 1987, are nor ratleemable prior td their rgpettlve maturuy dates. anode pf this Issut memnng m me year 1988 antl ihEredlt@r are redeemable at me pprim Of me Tpwn Council do December 1, 19a7, and On fnteflet Rdymint dates IhereaHSr, In InVelse numerical order, al a price egVal to the principal arnou M1} of each Bontl 50 redeemed plus accrued interest tnereen to the retlemptbn tlafe, plus d pnmiWn Of thfte per CeMVm {7 percent) of the prEn[iDel amoURi Of eacn aped Sa rltle¢m¢tl. REtlem Diipn Shrill be matle upon not leas Chart thirty 1305 days' prior nolict by publlcatlon of such notice at least pea EII time byone fl l PVbhtanpn, sucn oublicatlan being net less than Ih9rly {701 dour prior to the retlem ptian dale acecihed in such nP11ce, in Tne Vail Troll, Vail, Colorado, 11 Inen in bUline55dM pVOlisning, aM it opt, then in a newspaper of general circulation In tut Town pi Vdil, CalaradP, antl by sanding e Copy of such notice by certified or registered first CIaSl, poslag@ Fripald mail, at least fnirly 1707 ddYS prior to the redempliOM1 tlafe, to the nafaers of taco of me hoods Acing redeemed, ie the names and aatlresses of SV Ch holden aro recorded with the Tpwn Clerk. For this purpox, the holder of any sucn Band may at any ti m. furnish his name area aadres3 td the Tpwn Clerk. Such splice shall scecHy the nVmbgr Cr nVM:;er1 c1 :he Bonds so ro be redeemed aru the dare hied far fetlemptipn, dnd Shall f'vrih¢r state mat on foe redemption date there will became and will be dVeaM payable upon eacn BprM x to h8 tltleemetl m! grin Cipdi amount thereon plus accrued interest on said printipol amoum, dntl Thal 1rOm and a1fH sucn safe interest will Cease tp accrue. This Bond Is doe a! a series ]ssued by me Town Cguncil pf the Tawn of VaFt. Colorado. on behalf Pi sold Town and VgOn n+e crags thereof !or the 9urpose a providing funds ro delta Y, in whole or in Rarl, tl•d cost pt prpVldEnq an Ice skal€ng arena antl mulrl~ pVrpOU facie sty, of acquiring real prdpErty 10 b4 ultra for d public works mdinfenanC! id<IINy, and pF aCqutring reel properly tp be red a open Spare drxl Of fttr¢dfien dnd park !antl, tog@ther wVlh all neee5sdry incidental and appurtenant prop@rtie3 antl id<INifes, 8ntl the cOStS rnCidentdf IhefetP, 4Y virtue o! antl in lull cpntprmity with the cons}Ifptlpn OF the S!dr! u( ColpradP. Ine Tpwn pt Va11 Charter, and all Otnef taws O! the State of Colorado rnereunto enabling, antl pursuant b an Ordinance Pi said Town duly adopted, pualisnrd antl mado a law of Sditl Tawn pli0f ip me issuance PI this Bontl; ana it ~s nerebv rearep, (erhf,ea ene warranted that a!I the requiremenl5 Of IoW have been fWly complied whh by the grocer aflEcers of fha Tpwn of VaR In issuing mis Bontl. H is mrlner rtereby raerted. cerlnled antl wamantetl that ma~ef d4 intlebtetlneSS Oi said Tpwn, ineluding Enat o! ms cone, aces not exceed any consnrctiPnal or staturpry elm Station el Me Stale Pf Colorado antl does not exceed any Umitafian pf the town of vafl cnaner; mat at a saeaal elecnon wwtuiiy held fn the Town on the stn day of Octocer, 1971, the ilSUdnCe O! }his Bontl was OV Iy authorized by the guaiiNed, registered ele[tprs p7 me Town voting at said electlort; and that provision has been made tar the levy and cOllethen Of a tllYert annual tax Or1 au the taxable propene within the Sown with OVt Iimktdli0n d! 10 rd12 Or amount and for the apps Station p1 Certain Sales tax revenues of the Tpwn. sufficient to pay me interest on and the yrlneipar w mis aped as the same respectlvelr become due. The full faith and credit of }he Town of VaH, in the County o/ Eagle antl State of COIOrdd0. is Hereby pledges for Tne punctual payment a! me principal of antl the mteresi on this Bbna. IN TESTIMONY WHEREOF, the Tewn Council of the Town of Vaii, Colorado. has caused Inis Bond M be executed in ene hem! entl pn behalf pt Sald Tpwn with the laCSlmil! ll9nawrt of me Mayer of said Town, to ix sealed with a facslmite of fha seal of sold Town, to be attested by me manual slgnarure pf the Tpwn Clerk of 5aitl Tpwn, dnd naS caused the interest Coupon! attached hereto to be cxecuhd with me 1a<sirnil! signatVn of foe Mayer of Seltl Tpwn, ell asaf 1M 1st tley of Oecemner, 1977. TOWN OF VAIL ' VAILCOLORADO _ ~ IFKaIm[70 SigndiVrel Mayor ATTESF: Manual Slgnetunl Tawn Clerk (EndM Farm of Bend) fln7erMt Coupon Form] NP. S On Ine IS} day of D!clmber, 19 r andeSf Mt BORQ M wn1cH this coupon SS attached, II redeemable, has been called for prior edempllOn, me Town v} Vall. in the County pf Ea91e aria State of Colorado, will pay 1q dearer the amoum shown hereon in IawWl money ar the United Stairs of American, al American Nalbna3 Bank. Denver, Colpratlq, being Interest then due on its General Obllgatlon Bond, Series December 1, 1977, tlatM Otcrmber 1, 7977, bearing No. e TOWN OF VAFL VAIL. COLORADO IFacslmlle Slpna W rte Mayor 1 EM of lntenst Coupon Fprmf 4. 5aitl Bonds, when executed as provided by law, shall be delivered by any one pl the 611 Star! pt tM TpWn tp the PWCndSer VpOn payment Ia the Tawn in accOrtlnnce wire }hq cpnfract of purcnasE for me Bondi between the Town end Ina Pvrcn aser, Tne proceaoa tlulVetl Irom Bald Bono Sa'e shall tea used axtlV]iYCy for ihr purpps<S lratetl nNrin, provided, hpwevEr. Mat any palEal Oi int Bond prgCretla maY tea slmpprdrilY in Ve6ted pending sucn use in secuntit! pr POligetionf wh4[n an uwHlf IAVI31min7 far IM Tpwn di Yaii, won /VCh temporary inretmanr W a the Town of Valli aM WHEREAS, as evidenced by Ine canva!! p! Rp returns 01 sold elecli0n, more than a malarity pf sertl ellClpn vpr~nq on sold sale! tax auesngn voles in favor PI Impoamg Sala ]rile] to%; don V:HF. REA$, IhP TPWR Cpuntll pl Iha Town Of Vdil has lSfimdletl antl determined, and tlceS herepy PShmale and tlelerm~ne, char Inc principal maturing antl the interest eccrulnq on said 57.750.0017. tM principal amount of the Boons al Ine it ue dulnoriretl n!flm, Can Op met Irom revenues derived Irom sources other than general ad valorem p rapertY to Kel, in[IUdIM1q: without rtmdatipn. me revenues tp be Uerlved from Ine sale! tax aulhprreed by said Ordinance N0. 11, Serief of 197], antl apprpvetl by the aeoresakd electors voting a5 Tne atpresald elecnon: ana WHER EAS, TM Town Cpu M1CI! 0! me Town of Vall hey delerminetl. and aces hereby determine, mar it Is necessary and m me best interests of the Tpwn a! Vdil dntl tn1 mhdbitanls thereof mat the Rontls in iM fatal principal amount al 57,370000 b¢ now issued in accOrtlanca with Ine provtsldn3 0l tuts Ordinance. NOW, TH£R EFOR E, BE IF ORDAIN~O BY THE 70wN COVNCIL OF THE TOWN OF VAIL, CDLORADO, THAT: 1. On October 18. 1971, Ine Tpwn council duly adapted its ResPlVtipn dVthOrilinq Notice of Sai! Of in!luhlECr Bontls. The form m "Notice of ePntl Sale" and the form O1 "DHlcf a! Notice of Bond Sale" sfaietl that the coupon interest pt1 the Bonds Sn0ultl not lxCeetl B per Cent per annum, antl mat It was dnli[ipoled that delivery pl the Bonds would be matle qn or about Dttember 73, 1977. Saltl forms were revi sea prior to their pubtieauon tP stale that the maximum net efre<tI V! Snterei rate for the Bantle shall not exceed a percent per annum, ono fha! Vt is anticipated that delivery of the Bontls will f>e matle pn ar about January 27, 197A, 5aitl rgvtsiOns are htrebY ratiflea, approved ana cpnnrmee, 2, Pursuant ip Ine avihorfiarfgn confettetl by the goal Stied, reglstaretl ele<rors of the Town of Vall at a special e[eclion duly called ana held on October !, 1977. and fa the purpglE pidefraying, inwhole or in part, the cost o}: sal provlainq an enupsea Ice yketinq arena dnd mVlli~purpp5e !d[Illty SVlrabla rot conventlans. Concerts. exhibitions and trade shows, antl {bf dCq V~rrnq .. darcN of reds prOp¢nY known as the PvlIS prOperty'~ be used as a site for a prooosetl public wares maintenance Facility, and Ice acquiring a Garter of real property, xnavm as Kinv Annur's Cpun, to 4e urea as Open Spa Ce dntl Of re[reali0n dntl park land; together witR all necessary incidental aM appurtenant properile! and Iacili11e3. aM the casts Inclaental Iheretp, the Town of Vail shot! r55ue On bandit 01 recd Town arM upon the [r@di7 SMTe01 it3 MgOfidbl! Coupon General Ohligailbn Bontls, $erie3 December i, 1977, in the ap9fe9af¢ principal amount o! 52,330,000, dated December 1, 1977, epnsrsrinp o1 EO Hands in the denominenon Of s$,l>ap eacn, number 1 SO E0, inclusive, payable in lawful money of The Unifetl Stale] of America. 5aitl Bontls Shall bear inrereif as lyidentttl by IWO sets m bearer rnlerest LOVpOriS, dS her@iR 5@71pnn. Orte Or Sdid xis being designated "A",and the gmer sucn set being aesigrtared "B". Tt:e sugi@cf Bontl! SMII mature ser1a11Y in _ ...~_ _Y ~~ aZ ~e~~, ~~ ~,~ __ ~~~~1 ~. - ~~ .~„ `.. ~'w1 y! c.... ~. I!( l~es_ i.(rti~~~~ .3~'r ,al CJ l7hJy~:rOlY ',f?ti..~'.',: F! •1 t..;{: I'.I 7' t . 1 lil~ c ~~, ' r. r YT ~ ~ `''.?J'i- y" la}~. t , 'I: f{r. .t ~..,,,r V• 7r',a I ° L.~II!`Y~, "."t.' 1~I:.I `J .: ~: •. ~.ir ~~;f', •~d ~7T~ :~Y°{~ oeii:rl' i;~i' :(s-~_~QY 1FSnIq e! Bends UNITED STATE3 OF AMERt[lr STATEOF COLORADO COUNTY OF EAGLE. TOWR OP VAIL GENERAL OBLIGATION BOND SERIES DECEMBER 1,19!7 NP. !3,000 The Town of Vast. In !Re [OUMV d Eagle acrd Stott 9f Cptbatla far value re[CIYed, Rereby acknowltoges Itsel! inaebled antl promises f4 pay to 1M bearer hereof the principal sum of FIVE THO(rSAND DOLLARS In lawful money al IM Unltetl Stelae b America, Orl the laT gay PI Oetember. 19 With IRtlreSt tM1lrepe Irom the tlafe here0l TO the maturity cafe of mis Bdstl. except 11 Ied!lmfd PIIW IhMf7g, al lyidenced by br11 F r p ¢ t ~ ~ ~ ~ ~ a rrC.m~~+'Ip~~ ~' O ~ O ~ ~ D y .pp~,, O ro C. y C .Oy `rt ~ ~ O fin' cp ~ O a s p ~ ~ ~ m y, ~ ~ y 7 ~ '~ ~!1 ~ ~ d O ~ ~rtff ~ ~r~pp ~ O via ~ ~ ~ a, 'O C v~ ~ Yj~i Q b ~ A "~ ~ O ~, ,.~•F R ~ `rte ~ ~. ~D ~ 'C{ IIf w '7 ~ ~ e~r ~ .T N r4 C. o-~+i {» g: ~ a o: acs ro ~ _ ~ ~ ~ {~mQ ' O - e- (b ~; ~ ~' W cc ~ ~ w m m K '~ ~~..,aQ.~ w ~ ~ ~ ~.. r .`~ E, .1 ~' ~~~ "~' ~; ~ ~. ~ ~~ K c: ., _ p~ ~ p~~ '"1 ~ ~ ~ ~ ti' fi O ~ ryl F. ~ ~ `~ c9 O Fr Qp ~ m O m m O e R~ ~ ~ ~ ~+ +o-n `o o 'v A' ~ .~`~*.. a ~• ~ `~ C. ~ N ~p~. S H ~ O a, f0 ~ ~ ro ~ A '7 ~_ / ,C ~ ~ O ~ ~ ~ `~. ~ ~ O acv ~ ~ ~ ' tn~ ro p ~ ~ ~e 1{~~~C`C ~ t9 ~ n m ~ ~ m •e ~+ ~tf O m ~ ~ C! ~' G ~ ~ W ~! rnG ~ d ~ ~ p' y er r. cn m ~o ~. ~' O' F ~ ~ o l~ y .w ~ p, v~ ~ m ~. ~ ~ C] w ~ ~^ ~ o ~. ~ ~ o ~,~,~' w`bo ~e ~° J} ro m ~. a ~ m ~ ro ~ m ~ ~ ~ `^ ~ ~ A. ~ G. ~ to ~ "' ~ rw w ~ .~~' ro m ,O.u G. ~ (p d m 't ~. O t~9 ~ O M h C ~ 2 "'~ y ~ "~ O O ~ ~~ n L^J O ~ r O C O ~ O vv~ Q ~ ~ ~ ~ t"" n .~ y O z °~ ~'~;" ;'~ ~~ f is k~ ~~ .~ 72 The Vail Trail LISTINGS/RESIDENTIAL HOMESTAKE: One badrpomllpft, one bath,ground lavelwilh Gunny soulhem exposure. Folly furnished, immediaEa occupancy ................................. ..... $34,040 YAIL EAST CONDOMINIUMS: Furnished studio In Immaculate condltfon. Unusual canversallon pit antl Ilreplace, large storage Ares, paved parking ....... $18,500 BREAKAWAY WEST BENCHMARK AT BEAVER CREEK orated In Avon, Colorado Immediately adjacent to ma new ieaver Creak 5kI Area. This exclusive Ilst of develOpar parcels s offered at special price rgduclioRS for a limited period Far dxceUent InYestprldeveloper opportunitlea: Lot 35. Block 1. ZDned Industrial Use....... $25,000 Lot fi7, Black f, ~OOBd Ganaral Commercial Uae .... ........................................... $30,000 Lora t2, Ta, and T4, 81ock 2, Zoned for 12 Condominiuma each ....................... $50,000 Lot 6B, Block 2, Zoned General Cpmmerclal Use .... ............ ................... StK1,000 Lol 45.81ock 2, Zoned (ar30 Condominium unlls hex! l0 55 acre lake ......... ................... 590,000 CBII us NOW for further dalai!s on this GROUND FLOOR OF F E R! I I!!! l!! I! R! [1111! I!! I I! I!!!!! 111111!!!>! V I I I I!I II!!!!! I I I I R Rf tt I l i I!!! I!!!!!!!! I I I I E Chaplin ~ Companu tlonaltl M- Chaplin -Broker -William R. Abraham Ruben A. FBlkgr -Sales AsaPdial9 - Grenl O. T9epla 9ul[e 114 Ysll Praleealonal Building Drawer 55P Yal1, Coloerdg albs) ta9a> 476.2191 December 23, 1977 passed br trio Town cwnYU or Ina rowan Tn 9ach year rlspectiyllY wnlN any al the aMds herein eYrnprlrttl. linter es ro pM1n[ipal w internf, af! outafe Mlnp end unpefd. No provisions b dnY [w]tilVllat, sletub, harm, ortllnarce, rewlurion. o dtMr order w msemre enacted alter Tne a of the f]on6s heron aVllrorlxetl shall In any manner De canalryetl es llmlltty or impalNnq Ina obllgaNOn d the Town to levy as vamrem rases. wanour umirauon a rate Or amWnl, w ea IlmflilW w Impalrlnq Me bhllgarlpn of me Town le levy, aaminmer, enmrce sM <au«r Ilx sdea fad dt proVlde4 hprlln tw IM paYTMr o1 trio prlnclpal of and Inleresl on Tne PoMS nereln eYtfwrlxetl. H obeli C! She duly o1 lM Town Council annually at the Ilene dnd ~n TRe manner provided by law tar tevylnp inner Town taxes, If such acllm anall be ne[esSarY ru elfKlUdt! the PfPVi51PM of this OrtlindMe. lP ratify nM carry od me pravulons nereor Wien Y4FerMCe b the levy ant eollectlon 01 Tne ad valorem antl aPlle lexe! herein specll{ed, old N Yequlra the oHicera pF and l9r the Town rO levy. edend eM collect saitl Iavea in the and Mer provltled by law }W the purpose of provlCln9 lands 1w me payment b the princlpel of trio Rmtla aulharlxed retain end the metier accrw Breen prvmptlY as the same. respecNYely, become due. 7aitl taaea. when WllKtr-'a. shall be kept For end applied only tP the paYmen} of Me interest on ant principal of saitl Bonds as hereineafore spec{+IM. l7. TRe TownmvePdnn W Ilh fha holders o7 trio Banes that N win make Iva use of Ina proceetlsoF trio BOnda al anY !Imo durlry TRe tefm lherlOf which, n such uSe ndtl been wnahly expected an Inn Gate she Bonds re Iswed. V,oUld nave educed the Bentl510 ba amltrage bonds wilhln me meaning Of 5ec1[On tlplc] M the Interns) Revenue Carla OF 1951, as amentlea, antl fM regulalians propaaea +nereuneer by TRe Unltetl Stelae Treasury DapedmMt. Vnleaa, ardor any provlsEOn of law hereafter en cfed the Interest paid on Nb BOndS la) Shall be xcwaabb from trio prau IlKOme 9r a rKlplenl thereof IOr [eaeral Income lax purpeaea wanovr repera In wnemer or nor Such aMtl3 ere erhlrrape bbntlL w Ib] lhdll b! evlmpl From all le&rel income Idkdrlan. Il, All acllen M1EflfolwefdkM by the Tovm 01 Vall and by Me Ofllcer5 of m¢ YOVm rip} incan5larenr herewith tl[redatl lOwartl Ina du}horlxal[on of binds for trio pVYp05e 01 part ltllhe covsf gl pro Itllllp Ian IPOI Skaln9 dflna~mulli~purpo5e lacillly, of acqulYlnq e ske for a public works malnrMd11e0 Fd[II{!y. ant Of acnulrinp real property Ip be Ysetl as open space antl ar rerrlatlon antl park IoM, N hereby ralulea, approved eM cgnfbmea. 13. PYrSVaM t0 she Unlfwm Pecslmile aignalVre OI PVbn< 0111[ials Act. Part 1 of am[cle 55 Of Iftle il, Colorado Revised Sldlures 191 ~, prior r0 ilia sale o! the Hmtld aulharl[ed herein, Tnere has bran or will he Fried with trio [olgrstlp SecretdrY w 5101! e Facaimfle S!vnelVre Cernllcate bearlnp the manual Si9nafures o1 Jonn A. DOb50n, the Meyw OF Ina iorm or Vall, ant t011een KurN, me reWn clerx m sofa Town, cemfiea by them Yrder Odlh, sdm filing i5 nerlby renfiea, approved ant eamirmed for Ina purposes of ihSVinB rn0 welecl General OblE9a1[bn Banda. Series Peeember 1, 1911, 13. The oNker4 04 Me Town am fwreby <rizea rd aIrKIM rY en er ,rim au<h, aereemenn eM reds all actionlnecaaaary or epproPYlata n effKluat! the prOVisiOns Of this Ordinance ant b comply with the IiM11in9 ha gee ralilY M ihedlOre90 10 OVr e. The printing m trio aonaa herein aulnMlletl, incWd{np the printing upon each of such BontlS Of d Copy a} the epprpving ep3nlPn ql Messrs. OeMVIh a,d Efberger. bond ro nsel, dvW certalea by me Town clerk: ant b. Tne execurlun O1 54th cerlllicates as may ba re sanably repViretl by me urcnaser old me eyries evarnR to the signing of fne sands, trte renum aria iaemdy of the Town OFf Iclala, the assessed valYallan antl maeatednass o(tne Town. recelpl of trio aped pvrenase once, and, u m acrnraance wart me facts, Tne absence or In[Ranan, M tfie 6anCSreaantlne0, d4fecling fne, validRy c. Tne making M VarIPVn statements, ¢Ci}als, carllf fcdlions d a nNes PYavlded 1n the form 01 Bond set forth In ibis ordinance; and d. The prepprar[On antl evKUtim PF a bind PlferinR brochure, prelim mart/ oulcial sratemenr. oxmiat statement, or oner[nq circular, Ir any such le ro be prePdmtl, mr trio uu Of praspecllve purchasers or'Ihe bonds,- inciutling, without Ilmitdlien, fne orfglnel purchaser, Kirchner. Madre a d Co~pele9, iF any ea~COlOratlo end Ha A lbtement concem[nq trio dtturecy and cempleren¢ss of d1a<losure of 'Infwmallpn proNtled in any bind Plleriry b4Hrtalfetdllml iHmtl nary Merl<nga L{YCn dm IPtr proapxriv9 WYera of ins Banda. u, There la nereey approvrleled and sal aF ihefTOWn OF VaN111n0 imYputlnl o dmwnrs sdry r0 pay all cesle ant evpen5l3 InCitlenl 1o tn! Issuance el saitl General obnganan ennas, ser,n December 1, 1vT1. inClVd€n9, but rlol being Ilmiletl IO, env pU41ica11M, lepe4 alW IiKel agePt coda dIM expense]. t]- ommancea, oradrs. SOIYlions, er pens th¢rrof,rreken OY tAe Town of Vall BPd in con+lict wllh Ines ~iatrepeeler snaU not eepconsir~ea sofa. fo rev,ve any ordinance, au. order. r9sawuon, or part lhereol neralafwe repealed. Id. This Ortllnante la, antl shall conslllure. d leplsta RYe measure OI the Tawn el Vdll. antl alter the Bontl! hCrebY avlROriretl ere Ordinance dahn~ cdYe lituletandln9~lrfecl between the Town end the npitllY Or n0ltlera o+ ealtl Bones, and shall he and re Irrepeeldbla unlll saitl apntli antlmma real ac Ving thereon shall nova been IunV PeEtl, aa}isFlea ant tllxhergetl. 11, TRe proper ollicers of the Tpwn W VaR, Colorado, a e hereby autnorisetl end tlirecletl t0 PaY Or iaVSe b be paid the Teresa en +na eanaa nereln a~morixea es trio same anau amrve, alw trio prlnGpat of Sala sands .at ma+urnv, wanew runner warrant pr order. 18. IF any pdrdgraph. [IdUa<ar prpvlslon aF this Ora,nan<e is ivtllcld1lV etllVd9¢tl invalid nenlorceedie, SV[h udgment ehdll rroS a11K1, Impair or invelldme ilia remdfnlnq pera4rapns, clEUSls or prdvl510n5 herE01, Ina ImemiOn pally That the various paragYapna,clavaeaor arpdNpna nerev+ar. table. 19. A public hla Ylnp On M€5 prep05dd Ortllnance snail be held nY she Tavm CovrKil aE ]:]O P.m. on TuesdaY• December 7p, 1917, 1 Ina Va11 MuNClpal aVlltllnp, Vafl. CPloratlo, antl It Is rterehy ardwetl 1ndl notice 01 sold hearlna be plvM as requlretl by bW. INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONOE I N FULL TMiS dlh day of December, 397], TOWN OF YAIL Rodney E. 511[er MayeY ATTEST: Colleen Kline Town aerx INTRODUCED, REAP ON SECOND READING. ADOPTED AND ORDERED PUBLISHE D ONCE I N FULL, Ihls ZOln tlay o! December. iW1. -. - TOWN OP YAIL RMrey E. Slifer M9Yar ATTEST: taueen Kline Town Clerk Published fn The Vall Trdfl On pecemger 7], 19r], Public Notice 00.01NANCE NO. a] sKies 0119]] AN ORDINANCE REZONINOA PARCEL OF PROPERTY LOCATED IN THE NW'N OE SECTION 9. 755, RBgW OF 7HE Mh p,M, AND COMMONLY KNOWN A] THE NORTH PVL1a PROPERTY, FROM EAGLE COUNTY ZONE OfSTRICT ••R E50ll RCE" TO TOWN OF YAIL ZONE DISTRICT "PUBLIC USE", Ichpies Pt Ines oraman<e are avauabm for publEC lnspe[1i0n In the oMlce OF Ina Town Clerk dVrin9 rwrmei working Iqum.l INTRpDU[EP, REAP, App PTED AND ORDE REP PVBLISNEB BY TITLE ONLY thiE 9aM OaY el ge<!mblr, 1977. TOWN OF YAIL. 0.pdrey E. SIIfeY Mayor ATTEST: [bneen kline Yawn clerk PVb115hM in The Vall Troll W December. Za, 1w7. Public Notice ORDINANCE N0.33 seNesennT AN ORDINANCE MAKING A SUPPLE' MENTAL APPROPRIATION FROM YHP RURAL TRANSPORTATION DEMON aTkaTION GROGRAM FuNOOF THE 1911 BUDGET AND FINANCIAL PLAN FOA THE TOWN OF YAIL, COLORADO, AND AUTHORIZING THE E%PENDITU RE OF SAID APPROPRIATION AS SET FORTH HEREIN ECOPIM pl this prdinence are aVailebla for public Inspe<NOn In the aNlce W tlb sewn. Clerk aunnq normal working houra.l INTRODUCED, READ, ADOPTED AND DROE 0.ED PUBLISHED BY TITLE ONLY this 3elh day or December, 19R. TOWN OF YAIL ROtlneYE $li+lr Mayor ATTEST: Colleen Klln! Town Clerk Punnsbea m The Vail Troll On December.77, lint. . Public Notice ORDINANCE NO.7/ 54ri¢s OIt NI AN ORDINANCE AMENDING SECTION 1a.R.}yP OF THE YAIL MUNICIPALtODE TO ALLGW FOR THE LEASING OF PRIVATE PARKING SPACES: SETTING FDRTH THE REQUIREMENTS AS TO WHO IS ELIGIBLE TO LEASE PRIVATE PARKING ]PACES. NUMBER Of PARKING SPACES THAT CAN BE LEASED, LIMITATION ON THE TERM OF THE PARKING SPACE LEASE, REgU1REMENTS OF THE LESSOR TO 51GN ANO OVERSEE THE LEASED aPAC ES, AND ZOkE DISTRICTS IN W HIGH PRIVATE SPACES CAN BE. LEASED: SETTING FORTH REQUIREMENTS AS Tp APPROVAL BY THE zONtNG PDMI NISTRATOR AND ISSUANCE OF P LEASING PGRMIT: REgUI RINGPA RKING UTI LIZATtoN , STV DIESi PN P, SETTING FORTH DETAILS IN RELATION 70 THE FOREGOING. (Copies of mis OYtllndnCa are available for ' public inspection In the office vl trio Town Clerk during normal xprpnq nWrs.d rNFRODUCE P, READ, AGGPTED ANO ORDERP O Pu aLISHEO ev TITLE ONLY this 7aln tlay of Decemeer. l9]r, TOWN OF YAIL Rodney E.3111er Mavar PTTEST Lellrrn Kline Town Clerk ' PVhllahetl in The Veil Trail Yn December, sa. t911. 37 Acres Gypsum Creek Valley land bordering on BLM and National Forest. Road easement and fatly surveyed. Priced to sell at ...................:..........$39,000 Contact Galligan De~elopmtent 476-4238 P.O. Box 519 -Vail, Colorado 81657 iN C. • PROPERTY & RENTAL MANAGEMEN7 - ,• ,eMAID & MAIN7EN:4NCE SERVECES ..; . r.^ . ,' *ACCOMMODA7IONS ~ ~ . For complimentary brochure & references, please call or write to the "SPECIALIST'S" . . TOTAL CONDOMINIUM MANAGEMENT, Incorporated A. Mountain Haus, Suite 70l jNext to Covered Bridge), P.O.BOx 369, Vail, Colorado 87657 (36 31 47 6 1 1 i7 From D9nver Area, call 70l! Free 571-1833 „~ ' - MEMPE R: YAIL RESORT ASSOCIATION J LAKE CREEK: A duplex, 7,900 square feet on West Lake Creek, two acres. Also, ranch house (820 (eeq to be used for recreallonal purposes. Owner desirous of leasback$145,OOo Only iwD undo remaining that qualify for 90%flnancing. At spproximately $47.00 per square £oot these units continue so bathe most exolling tlay fn Lion's Ridge. Two badroomllo(1, three baths, Sgrmal dining area ' 7.554 equate feet .......................... $63,500 Four bedrdoms, three Paths on lw0levels, un(urnfshad 1,598 square Fael .......................... $67,500 BREAKAWAY WEST: Twc bedrpomallott, Chase baths. washer/dryer, custom wooden shutters, Parnwocd paneling, top floor unit wdh axcellentvlew. Underground parkingspace ................................................. $65,000 _. ( r; 1 5 s C14rX. FOr 1h18 pUrpgae, Ina Mltlar of any eu<R Bontl may of any time lumlah Rh name antl edtlresa m In1 TOW]I CIlrk, Such noN[a snag epaclfy Ina numcer or nvmben 01 rM Bondi w l0 ba redeemed efM Ina ddr8 IIXM ldr Yedamprl0n, dM Hldll Ivrtner stele Ihal Mlwillcedu9lentl date mere will become e pdvabla VpM lath Bmtl w 10 M rUtleemCtl Me principal emqu 1 m4ragl plus acrruetl Interest m Seld wchcddleaimallas wit aeafurl0 ettr~r.lfer This Bontl Is one dr a serial Ibsuetl by IM TDWn r'aallrn of Ina 70Wn OI Vdll. COlored0• On Dehall of aeltl Town Bntl UpM !ho cfetlll 1hOreol Ior the purpox of prquminq }urge l0 deNGY, In whole ar In part, the Cos} of prOVltllnp On Ire axetlnp arena antl mUlfr purpaH IaCHI1Y, of ecqulrinq real propeflV to ha uaetl }Of a public works malnfenence 1e<Illly, antl OF a[pVh lap, real pfOperlY 1tl be used ea aeon ipecB eM Or rared%m and park lend, IagalRer with ell n easd•Y InUapnrel antl eppvrlenenr pr0penlea ena fecfllllea, end Ina coatsincltlenlal thereto, by virtue of erw In loo apnrormitY wnn ma COnslll UllPn pf In! $taf0 PI CNpratlw the Yown of Yell Charier, end ell O1ROY laws al the grate of Coloratl0 lneravnl0 r ablln0, ena pursvam le en Ordlhersce of saitl Town duly adapted, pvbllanVO ena maaa a law sN saitl Tqwn prior Ip she issuance dl this 0md: Ane It Ia MreDy recl}etl. Cersillpd antl ed Sher all ma requlremrms Of law hdVe boson lukly compllM with by IRe drOper ofllcers el sn0 Tawn of Vall In luulnq Ihia band. Il is IVrlner hereby recited. certllled end need f he} Inc fatal Intleblehneaa al sold Sown, IncIVVIR9 snot PI IRIS Bontl, tlces not xceed env co stllvlional ar stawlOry ImltatlOn Of Ind Slate bf Coloratl0 antl aces got exceed am umnangn pl me rgwn pr eau cnutar, met dl d spatial alr<RPn lawlmly m ma town an ma xn aav or aroncr, 191], Ina ixyanre Ot IRIS Bond was duly eulhOr{setl by me qualllira, r lilefetl elpelOn ql mC Town va}m9 a1 saitl l¢CrlM: antl mat pmvalm nag bean meee mr tna IevY antl cOlloctim 01 a nlracl annual tat on all the IBxable pYOplrSY wnhln the Town ow limkrahon a tv rata or dmadm antl for nlhe eppllceliwa al [lrmfn sales fax YcYenuPo OF ine Town, su111cIeM1110 pdv Iha antl IRe prlnclpal gl IRIS 8000 da tisn aaamenrnPectively become rive, TM lull lelm antl ttedN OI the Town OF Vail. In She County 91 Eegla antl State Of C9lpretld, is hereby Plptlged 19f tae WnisV41 dnYlhlan00ntlha pre Mlgel Of ang me lmerest IN TESTIMONV WHERg OF, Ina Town CevMIV OF 1h0 Town al Va[I. Coloreeo. nos eusetl Shia Bona 10 ce eyttuletl In the name end wl b4nall b1 geld Tawn wlln Ina }aolmna algnalVre of Iho Maydr Of saitl Teem, t0 be clad Wlm a faC91m1[e al me seal of saitl Town, to be etteslM DV the manual a antl alnes °I lased ine Imem~aictlupms necRaa Iwria 10 oe ex rag wnn me iecalmue slgnmvrp m me ]~nvar m gala Town. en gaol molar day of December, l9n, TOWN OF VAIL ~ VAI L. COLORADO ' IFenlmile SlpnsWrel ' r. MAYOr ATTEST; Manuel sipnelurel ~I l 1 December 23, 1977 The Vail Trai Tawn rllerk levies la atl velGem saxes nerNn provided r venues lRa inlefesl gn and 1M prlrNlpal a! a pansy wl}h aM shall be suboralnaM1 eIW F tll ay mereupm ce tllminlaMd 10 the exsmf the Prior Bgntls. provided 1]541: infem0f s0 see General bbligatim BoMa. r s ine 1911 ith r b 1 D (End Of Form a Bm the requiremenla la sVCR Bmtl prlnclpal q. Th¢ saitl pletlgetl setae fax revenues , w ecem er , esMC 0 Series sa es lax revenues herein plmgM~ Ilnaareas Caupm Potent aM interest payments for fha particular may also be pledged antl Vsetl Far the 50 lOrsg as sne General ODllgaflon BmOS, NO = aYmenl OF the debt lervlre on any o1Rer OY Year are IhlYeby tllminfsnetl. p 9BYIn peCembpr 1, 191T, remain oursldntlmp June, a 8, Notwltnatantllnq the Foregolnq tltlblpnal general ebhgaaf9n bmtls M ma l9SVea nereaF}er b and ~npaid,mrTOwnal VaNbadllnpl repeal On Iha lst day of December, l9 mesa e Prgvlsions for atl valorem lax lrvles,tae Town 0l Vail whl GS may p+avltletl that such purer tim to lime F I}q OrdinanCP Nb. 51. Series of 1953, aM iRe Ina Bona to wnlcn Ihls ctlupaa is dllachetl, N , rom e TOW'^ her40Y ftlfmpr COVenense aM agrees r atltll110ndk general obllgaNm bMde shall l f o Town shell ms emend aa3tl Ortl~ndlKe in a retleemeble, has bean called Iqr prior that SO long as the Bontls Itletl or Rere n prgV be and pdYifVwith or subortlindre to lhbi n0l id it ill l manner whi<R, teklny Iniq dCCOVnI giber reeemp110n. me TOWm of Vall, In the County w ee V. amain oufslalMlnp and unpa . bt ine aelea fax prior Or supenOr 101 the General OOFiga}im i l d ll d avenue OI IRe Town wnlch IS legdlly h i i l 01 Eagle elW d1a1401 COIOfa00, w91 pdVb m cp e OrCe en d mstef. en Series M Bondi, $lrees December 1.195], w1in rlspecs !5 Ortllnance Np a IhorlsM n e pr pa nc dedicated and dydllahle to peY t would ts On said Bdwa tl i f s bearer the emauna shown Mreon In lawful dnaY h} ohs 11n4te0 Slates PI Amefican, el , . y 1913, fd the Pxtem OF anamount to cenol less M me sales tax revenue9 herein pletlgetl: , n erea paymen p p'iminleh ma revenue secur3lY IN saitl PmerlCan Nd110nel Bang, DCVI"er, CplaYdtlO, ihdnaperCem pl prdasreceipla derived FfOm d h roperty antl na. TO the extent Thal the dlbi Servile art all erspnal f t ibl Bmtls. dl n 31 be hclnp Interest then due on Iss General p ang e p ine sale o e b T O e mi oa a p s n R nelsce s a NOSping In this Or nna to prevent the d I h } Obllgdllm Bbnb Steles Dttember 1, 19]1. dated December 1 1911 had Nlq l m fO 111nP may be lasued f ao nirh TR! Ypvm Pl Vau Sa 6 sales la x bUCe[i lP t} d ! th 8 tl n suc ma ons rue Issuance by IRe Town o1 Vall of additlPnal. , , No. e 0 e on s has previously issued Ifs General Obllgatian linclutlinq but n r ben Bontls ds fbllOws: its Ganef dl GPligdllm aulhOrlfea heY¢Inl dntl which are payable In bantl9 of any np ere, prOVidae Res said a atlalfional bmtls are iS9Ued in a m nna TOWN OF VAIL Bonds. Series NOy¢mber 1.1913. avihprlcetl note or in part from she subiecl pledged dntl con S,stenr fh the previSlOnS VAI L,COLORA00 h OrtlindnCe NO. 19, settee PI 1913, In Inp sales lax revenues, is iVllY Plwidetl for in Y IlmifaflOns staled Rereln wish respect stl the (Fa<ilmlle Signaluref orlgfnal prlnclpal dm0Un1 of S3,OV0~000; 1SS dM %sral year by lax revenues alai Plher sales tax reYengn herein pleepetl. Mayor General Obligali9n Bontls, series March 1. mOn9ys legally avallahle matelot, then the rl d fo use an revenues n 9. Thowms Rerelnbemre provltletl to meal IBna of Interest COVpon Forme y f5 dVi g ae 191 d, avlhorlsee hY Ortlindl5ce No, 3, Series Town from the subiecs Pledcetl sales n M sne Interest on saitl Bontls en0 to tliscRarga sale Banos when executed es rovltletl d 1 e tame ni } 191x, in fho Oflginal prncipal amoum sex revenue3 IOY om¢r pUrppaeb (bus only tion ReluMin k the principal ihefe0f, when due, are Rereby . . P by low, shall DE tlellVered by any one Of iRe g 55,500,000; its General Obl gd after all Ol lfi9 debt service on saitl general dated November 1a. 19I x, g Serie$1914 ndS dpproprlaletl for that OVrpose, any said officers of ine Town to Ina Purchaser upon , p , , h'Orlxetl by Ordinance NO 71, Settee of obligation bonds pdvdble fYOm sAltl pletlgetl amounts Sor coca Vedr shall be inclutletl in tine annual budget antl ine pprVprlailgn r t paY Ida' In sne original principal amOVm Of sales tax revenues has been luny plpvlddtl l ln nut rtal ortllnance Or m¢asUrOS 1o ce adopted Or Ina Bmtls hetw een Na<I of purchase Itl the Town antl the Purchaser. The praceetla p, Vtl sgbe0,fg0. wnicR Refunding Bonds reluntletl for In said IISCa1 veaYl, ,M ln0 full outsfandilsq a aVnf 01 ih> Town's limited tP. payment of speelal ,wn~gOnaral tleriyed IrOm Sabi Bona sale snail M used ualvely for the purposes staled herein, General Dbligalian Bontls. Series November Vbllgatpn bonds. which special non general 1, told: its General Obligellon BOOdS, Sarin ohllgalionbonds lnanr eVMl. sRdllnOtaean Plepse TllYn YO PtrgC TZ prpvidea, however, Ilia} any pOrhOn Of the OeC¢mber 1, 19)5, dUtnorhltl Dy OrtlinaMe Bpntl prxeetls may ba temporerily invesletl NO- 21, Series pl i9]a. In the Of igindl ' pendlnB SUCK uae in secVrlfies or gbllgatlpns prlnclpol amount al dasq.ooa: "R General Whi[h are lawful Inveslmen! for tine Town of Vail, wish Surn remsgrarY lnveslmmf to De Gbligalion 8ontls. Series brpteMber 1, 1916. ~ aulher,sea aY Ortllnaxe No, 31, Series al , 5, _.~ I( l ~ ' ~ ~~• made coast ssens with she ravenanl ly]a ,n she original prixipal amount 01 !:' herelnaller pravltletl aOMPmknq de0itrege bmdb- NVlmer mp Purchaser PI sold 80nda TgW,Bx; 115 General Obllgalion Refuntlknq gOnns dated November 1, 19]x. AVInOr1aM '- 1: . nor Iha Bottler of env of them Shrill be in any way responsible for Te application 01 the by Ordinance Na. ga, Series Of 1916, in the ar,glnal prlnclpal a oVn1 Of Sa,gaa,WO. I =}- pmceeasPtsaltla0ndnbrrneTawnoranrol wnlcn Refunding gangs reronaed ma full us mairers- 1, IF required. the imoresl antl principal to owatarwrng amqum a me rawn•: ceperal Obllgafion 8ontls, Series MarrR t, laid antl , . „. ~.. , ~~ • ~ bnOme tlVe nn said bonds fn 19T8 snail he advanced From any fevCnVPS or lands o} ine Series Da<ember 1, 1915: antl its General UPligation Bonds, Series May 1, 1411 r r i ~ ~ a ` - ~ ~ i„ ~•, ,,,,, „ Thwn IaWFV11y dvdnabla lherelOr. Far ine a lhOrised by Ordinance Nb. II. Series of , purpose of reimbursing env SU<n atlYdnrc lull In the orlglnal principal amwns n, rier 40nds beirvg herein 9459 900 [ IIOF SdiO 'Commercial Sites antl al» lOr the purMSP 0! paying the inserea}m andnrincfpalMseitl Bontls as the p . a relerretl bassne"Prior Bends"1. The TOWn V il me become rive one payabe respectively, nos cdvenemed and agreed, in each OI rho Located in a Eagle- the Town CGUnCII of me Tqwn Of Vail shah y a tale of levy sot ad a wally Hxand cerll Ordinances far said Pllor Bones. to pledge and ses aside au lh0 ales !ax re e ^ valorem taxes 19 se Baartl 01 County n deflvetllrOmPna~halfoFiheaboveslaled COmmerClai IOts In tf10 Eagle-Vail COTmisSiOner3 0l edQle COdn1V. CPIOredp, ddi110n t0 rill O}ner faxes I perccni of gross leceipis dUlhOrirctl by saitl 11, $eYle6 of 191], to pay the Ordinance N0 CommsreEal $9fVIC0 Center. First tIr11B , wh1cR taxes. n a When levied an all of the laxaDle pfOpeYlY in . interest on and the prlnclpol dl the General available and Suitable for office, regal, the Town, in each of me rears 191810 loge. IncIVSlYe. w,li raiseatl valorem tax revenues Opugauon gongs ena Getleral ohugarlpn ROfuntllnq Bontls aulhoriaetl Iherebv. 9dld warehousing and even limited rasidentiQt~ sullicfenf 10 make aucn relmbursemans and Ortlinnnces sot the Pllpr Bonds provide to prompllY meet antl pay sucR BOntl fVrlher that saitl pletlgetl sales tax revenues a inleresi pdYMMis ab SRO Same e i p ym t a th l d COma aVe be gold faxes when cepecled sndll be appllea a se v m any other Of ent of e d eb Ce atldlllOnal general ebligatlOn bmtls of the Slifer and Company wleW for iRe paymens of ine interesim alW Town al Vall wnicR may be lasued Ph a f Rod Slifer ' DICk bailey principal of aaia Bontls, respP[hVPIY. Until the ponae,b0m as fa pFlnc,palaM lnleresl. paf{ty wttR Shcd Prlar Bontls. The Town o Vail cOVenams anb agree: mat all iRe sales :-DdVId SOQe Bob Kendall ROb ~~ shah he wav pale. aansnetl ena alxMrgea, fax revenues deriyaa lrom pne~nau hl Saida g76.2q¢1 ~ ' prgvidetl, however. Shat n0}hing herein cmlailletl shallbeso uansfNed dS SO prevent peecenr al said gross receipts as eumgrized mDreinanre Nall, series 01191x. snau De _ PO~BOx 1248---VUiI, C010fado 81657 tae TOWnfrOm cammlllinp eM applyln0 any o1Mr funtls'or revenues fhdl may now or aeredller ba In }he Ireesury tlF she Town rind legally evailebl9 Ior the purpose of paying sne insereat On or principal of said Bonds, ntl upon sne aPppcaflpn al any other such FVntla er revenues es elpmaeltl, the levy Or ena Mrebr are i r vaablY ena splely - paledgetl and ses ealtle to pay the Interest On - / ntl the prlnclpal 01 the avblect General Ob110df10n BOnPS, series December 1, 19T]. ' , I as the same become tlVe dntl payable from ~ i i~ ~ ' of t0 year. 0n a parity wim ine Town's oDIlgallOn 10 pay From saitl sales tax READY FOR JANUARY OCCUPANCY READY FOR MAY OCCUPANCY few Deluxe Duplexes -Located in TF~e Town of Vail - in Prestigeous Residential Area ~Saa a'ia° •; h° hl u,~~,~j~a aaa''' ,I 4'~S'~rI ;~~ sr a ~IJN ~~~~ l~ ~~~~~~tl~ ~ } 1"~S~ I i ~ ,~ .: If ' ~~' I ' I~Sirll f~~ ?III X1.1; -ilk f'~y ~~f EE I f ~ C~rUi'~ ~ u11~ a-°~ Sn; ~1~~1 Ta, I Ip wee' '~~ ;i- , 'V T~ tr __./f /~rr~l~ i ~' ~ ~~: ~~ ~~ lal'r J 'jl? a95Sc ,M1 9 j) 5 la ~I . t~ ~ .~ s;n y.; ¢~ ~ r . ~ yl a r~• ~'. '~-~~. f ~ f i~>r+yf~~,I'~ ~ j -- I r Tli ~: I ~ 3 1 h t t F~ i i is , I `Z. ~~ C "` S7 W - "~.. ~1y U ~ '-. d~ I ~~ ..s. ~ ~;1:k ~ df ~ - I ~_` ~ 2355 Bald Mountain.Road, Lot 25, Vall V{Ilage,13th Filing',Town o! Vail ~ 2375 Bald Mountain Road, Lot 24, Vail Vihage,13th Filing, Town of Vail Naw duplex in Booth Creek, each unit wlih sunny, south exposure, 'New duplex in Booth Creek, unusual architectural dosign, with beautiful view of Gore Range, Vaif Golf Course, 13th and tAth fairways redwood and mossrock exterior, large deck areas with southern and waterfall. Each duplex unit Includes: 2,000 square fast of living exposure. Overlooking the Vail Golf Course, 13th and 14th fairways area, a two car garagA with automatic door opener and 600 square feet and waterfalls. Each unit has three bedrooms, two and one-half baths, of basementarea,lhreebedreomsandprkvateden-study,twoandone- {jacuzzitubinmasterbath)tiledtubandshowerarea;largelivingroom half deluxe baths, (master bath with Jacuzzi), large living room with wdh paneled vaulted ceilings and mossrock fireplace, spacious wood vaulted coifing end mossrock tireplaco, spacious kitchen with kitchen with large counter areas, deluxe appliances and grill, large deluxe appliances andbullt-ingrill,hugediningroomarea,fufllaundry dining area, largeckosetareas,iMeriorqualitytrimanddoors.Includes room, generous, walk-in closet area, all cedar eKterior.and deluxe automatic garage door opener, all floor coverings, lighting fixtures, Interiortrimofoak,door, casing and 6'sppiralstairs,mlrroredliqudfbar, ~ landscaping,comptetelaundryroomwithwasharanddryerandtub. uare feet o4 livin area lus lar ver 1900 s e ara e it h h Includes nil floor coverings and lighting fixtures. Completely g p q g g g . un as o Eac landscaped, pre-completion owner Can have many custom deddjatf~'e Pfe-completion owner can have manycustom decorative choices. Pre- cholces. Pre-completion price (West Unit Sold) . $128,000 eac#t unit 'completion price {East Unit Sold) .............. $129,000 each side Owners have priviledges to use~Boolh Creek Tenn)s Courts Deluxe Housing at Prima Locations By: Shapiro Construction Company (903) 4Y8-1289 Suite 300 Vail Professional Building Vail Colorado 61657 „1 I 11,. , ~. ,~ 111.E r, , 46 ' The Vail Trail D b 9 ecem er , 1977 ^/~ proposed public works malntanante fadEltY. P bli N t the Town ofVaib and ' `"-' ^Ve togerner with all necessary lnddental a d u c o appurtenant pi0pertles fadlities and costs ef wHeReAS, s evip9ncetl b the canvass ` regular numerical order on December I pp Y , each year, and shall bear per annum "A" f th t _ s .a be re r e/ eon deslpnatep ''" "A" heretg dttathed dt the rate M , , , such bonds to bear lnterest at a maxlmum ~ ' o e re urns 8f sold election, more than a .. coupon.interesf from December 1, 7977, lo majority of said electors voting on said sales . ~- Per centum { percent) per annum, ~ OR SI NA N CE N 0.31 net effective interest rate not exceeding 10 -; the maturlty date o! each Bontl, except If tax question voted in favor of Imposing sold - red d i th payable December 1, 1979 and semiannually e e O a percent per annum, and 19 mature serially , eeme pr or ereto, as Indicated in.}he sales tax; and following table Saltl "A" ~ thereafter on the 151 day of June and the 1st ~` - ~ AN OROfNANCE TO CONTRACT AN during a perod of not more Ehan 30 years from }he date or res INDEBTEDN e tiv d t f t . coupon Interest WHEREAS, theTOwnCOUnciloftheTOwn.•. shall be payable December 1, 1998, and semi- ~ tlay of Decem her of each year, .and -atltlitional interest for the part d 4ro p c e a es o he ESS ON BEHALF OF THE TOWN OF VAIL, COLORADO, AND UPON bands, such bonds fo be payable from of Vail has estimated and determined, and annually thereafter on the isi day of June does hereby estimate and determine that ~ - ,. e m ~. March 1, 1978 t0 December 1, 1979 only, as THE CREDIT THEREOF, BV ISSUING general ed valorem taxes and other funds ~ , and the lsf day df December of each year. If }he principa! maturing and the Interest -: upon presentation aT maturity a ment f evidenced by a second set of bearer interest ~ cou ons d i t d "B" h a legally available therefor, and such bonds to GENERAL OBLIGA710N BON DS OF SAID be sold and issued t ti TO f p y o ,accruing on said 57,350,000, the prindpal ~iheprinctpal amount of any Bond is not p es gna e ereto att ched ai One rate of ' per centum ( a one me or rom time WN IN THE PRINCIPAL AMOUNT OF f2 000 FOR THE PURPOSE OF to time, in such manner and amounts and 750 amount of the Bonds of the Issue authorizetl 'made as • provided herein, interest shall h i b t f ~ . „ percenU per annum, payable December 1, , , DEFRAYING, IN WHOLE OR IN PART, upon Such terms and conditions as the Town C ere n, can e me rom raven ues derived } continue at the "A" coupon rate stated from sources other than general advalorem -therein until payment of sold rinci al ~ 1978, June 1, 1979, and December 1, T979. The Prtnd al of int " r t ouncil may later determine, Including THE COST of PROVIDING AN ICE SKATING ARENA-MULTI PURPOSE Provisions for the redemption of bonds prior p p property taxes, Including, without ,amount is made In full. In addition, all Bonds limit ti th n be p , e ... es On, and any premiums `. dvein connection wlin the redemption of this FACFLITY, AND OF 30 DEFRAYING THE to maturlty upon payment of a premium not a on, e reve ues to derived tram shell bear per annum ^e" coupon. lnterest the sales tax authorizetl by said Ordinance for the period fro M h 1 1 7 -.Bontl are payable without deduction for h ' COST OF ACQUIRING A SITE FOR A exceeding 3 percent of the principal thereof?" PUBLIC WORK m arc , 9 8 to: No, 11, Series of 1973, and approved by the ~ December 1, 1979 only, as Indicated In the exc ange or collection charges at American ~ ~ National Ba nK, Denver, Colorado, upon S MAINTENANCE FACILITY, AND OF SO DEFRAYING THE 3.Open Space ACqulsltion Bonds quesflon _ aforesaid electors voting aT the aforesaid .following table. Said "B" coupon lnterest 'election; and :'„presentation and gurrentler of sa id coupons ' , COST OF ACgUIRING REAL PROPERTY Submitted; :shall be payable Decem bar 1,.1918,June_1,; WHEREAS, Tha Town COUnctl of the Town 1979,~and December 1, 1979 ,:: and this Bond asihey severally become due. -'If upon presentatOn at maturity payment of 70 BE USED AS OPEN SPACE ANb OR °Shall the Town of Vail, Colorado, be RECREATION AND PARK L _ of Vail has determined, and does hereby -' d t i th " ~ 'Me prindpal amount of this Bond Is not AND; a0lhOrizetl to issue its negotiable lnterest PRESCRIBING THE FORM OF SAID bearing general obllgatian bonds in one BONGS ANb PROVI e erm ne, at It is necessary and in'the $ ~. best Interests of the Town o! Vail and the • a £ m - ~ " "~ _' made, interest shall continue ai the "A" -coupon rata sfated herein until payment of ; DING FOR THE genes or more In an aggregate pNnclpal LEVY OF TAXES AND FOR THE inhabitants thereof that The Bortds in the -~,. ' oti a _ _ total principal amount of 52 350 000 be now - q5 d said prlncl al amount Is made In full. t amount not to exceed 5200,000, or s0 much APPLICATION OF SALES TAX thereof as maybe necessary, }orihe purpose REVEN , , ~- ~ '= ssued in accordance with the previsions of .-z~~ ~'. m5 ~. Q~ ` Bonds of his issue maturing on or before "~pecember 1, 1997, era not redeemable prior UES OF THE TOWN OF VAIL TO Of defraying, in whole or in part, the COST of PAY SAID BONDS AND THE INTEREST ac uirin l f l this Ordinance. °~. u s ° m ~ m ~ NOW, THEREFORE, BE IT ORDgINEO °e ¢~ ` ~ ~ ~~ to iheV respective maturlt dates. eontls of ~' q g a pa ree o rea property, known THEREON. as King Arthur's Court, to be used as open $ ~ ,. BV THE TOWN COUNCIL OF THE TOWN '~ m -~ % •' '•., „ „ this issue maturing En the year 1988 and }hereafter are redeemable ai the option of WHEREAS, at a sped4l election of the space and or recreation and parK land, A : i 6 ' OF VAIL, COLORADO, THAT: _ ' ~ " ~ the Town Council on December 1, 1987, and qualified, registered electors of the Town of together with all necessary inddentat and 1. On October 18, 1477, the Town Council ~ ` ~ on interest payment dates thereafter, in Vail, Colorado, duly called end held on , appurtenant properties and fadlities, and _ duly adopted its ReSOluHon authorizing 1 to7 -~ 3579 ' 535 000 > 6 5 1 5 ~ Inverse numerical order, at a price equal to TueSdaV. the 4th day of October, 1917, In the costs Incltlental thereto, such bonds to , . , Notice of Taleof the Sublet! Bonds. The form ~ 8-to 16 ': 1980 ~s. '45,000 '~ 6 5 ~ 5 1 the prindpal amount of eaM Bontl 50 accordance with law and pursuant to due Deaf Interest at a maxlmum net effective _ . . of "Notice of Bond Tale" and the form of 171027" . 1981 ~ -~ 55 000 ` 6 5 1 5 ~ - -redeemed plus accrued Interest thereon to notice,tl(ere were submitted to said aletiors Interest rate not exceeding 10 percent per , . . °Olflclal Notice of 9ond sale" stated Shat - 281040' = 1982 ~ 65,000 6.5~ 1 S ~ the redemption data, plus a premium o!' the lollawing questlona: annum, and to mature serially during a ' _ . the coupon Interest on the Bonds should not ' ~ , ql io 55 1993 ' 75,000 ~ 6.5 1.5 , ` three per centum (3 percenD of the prindpal period of not more than 30 years from ihe~ ' ~~ exceed B percent per annum, and that it was - id to72 1484 ~ 85,000 6.5 1 5 amount of each Bond ao retleemetl.~ . 1. Ice Skating Arone MUItI•PUrpOae date or respective dates of the bodds, such . , antitlpated that delivery of the Bonds would 73 to 91 1995 ' 95,000 ~ 6.5 1 5 • ~ Redemption shall be made Upon not less Fadllty Bonds, question Submitted: bonds t0 he payable from general ad " . . be madeon or about December 23, 1977. Said qe to 111 1986 100,000 ` 6.S 1.5 -' than thirty 1301 days' prior nottca by. Shell the Town Of Vall, Colorado, be Valorem taxes and other lords legally forms were revised prior to their publicatlOn ~ 11210193 19~ •- 110,000 : 5.0 3.0 ~ -publltatlon of such notice aT least one (1), ~ authorizetl to Issue Ito nepotleble, Interest available therefor, and such bonds to he sold to state that the maxlmum not eitectlva 13410157 1988 ~ 120,000 '~ 5.1 2,9 timebY One (1)publlcatlon, such publication bearing general ObIIgalloR bonds In One end issued atone fimB or from timeto time, Interest rate for the BOndsshall not exceed6 "156 to 783 1989 130,000 52 2.9 rbeing not less manihlrtY 130)tleys prior to series or more in an aggregate principal In such manner and amounts and upon such Percent per annvm,ond that IY Is aniidpafed 184 to 211 1990 140,000 S.3 2.7 ~ the redemption date spediletl In suds notice, amount not to exceed f1,800,000, or so much terms and eonditlons as the Town Council that delivery of the Bonds whl be made on or '212 Po242 1941 1SS,000 5.4 2b. In The Vail Traih Vall, Colorado, If then In thereof as may be necessary,for the purpose may later determine, Including provisions about January 23, 1978. Said revlslons are 243 fo 275 1991 165,000 ~ ' S.5 2.S huslness and publishing, and II not, then In a of tlefraying, In whole OY In part, the cost of for the redemption of bonds prior to Hereby ratified, approved and confirmed. 27630310 1993 175,'000 . 5.5 2,5 ~+ newspa par 0t general elrculetlon In the acgv€ring, constructing, Instating and maturlty upon paymenf of a premium not ~ . T. Pursuant fo the authorizailon conferred 311 }034 1994 185,000 ~ Sb 2.4 ' "Town of Valli ColorBdO, and by sending 8 equipplnp an endosetl Ice skating arena end exceetling 3 percent of the principal , by the qualified, registered electors o/ the 34810 386 1995 195,000 ' Sb R4 "- ~ roPY Of such notice by certified or registered multl•purpose Fadllty suitable for thereof?': Town of Vail eta special election duly called 387 /o 427 19% 205,000 5J 2.3 ~ ~~ first clans, postage prepaid mall, at least conventions. concerts, exhlbltlons and trade`' and end held on October d, 1977, and for the 428 to 40 7991 215,000 S7 2,3 '~ _ Mirty(301 days pNOri0lhe redemption date, shows, together with all necessary WHEREAS, as evidenced by the canvass Incidental and appurtenant properties, f th t f id l Purpose of defraying, In whole or In part, the ~ ~ - lost oh (a) providing an endosetl Ice to the holders of each of The Bonds being ' redeeded, if the names and atltlresses o! e re urns o sa e ecNOn, more then a structures, fa<I lilies and costs, such ponds to o metoFlty of aald elector votlnp on eacD of skatin Tayable for the period from March 1, 1979 9 arena and molt!-purpose fadllfY tp December 1 1979 only such holders are recorded with Me Town " bear interact et a maxlmum net effectlva ns voted In favor of tssuing Such Interest rate not exceetling 10 percent per tl ;t , , . suitable for conventions, concerts, Bonds o} this Fasge numbered 1 ihrouph r',,, exhibitions and trade shows and (bI ' Clerk. For this u -such Bond may atan~y tlmefurNSh his name bon s and annum, and to mature serially tl,uring a WHEREAS the Town COUndiot the Town , acquiring a parcel of real property known ea 133, Indualve, maturing on or before '_ . and address to the Town CIerK. Such notice , period of not more inert 30 years from the of Vail has determined, and does hereb P Party to De used as a site fora December 1, 1987, are not retleemabla prior " iho PVlls ro { shelf s df the number or numbers of the Pe Y ' date or respective dates of the bonds, such determine, to Issue at this time general d Proposed public works maintenance facility, ~~ fo their respective maturlty dates. Bonds of . Bonds so fo be redeemed and the date fixed ~ bon s to be payable Irom general ad oDllgatlon bontlsfor Me purposes authorizetl and IU acquiring a parcel of real property, ~ this Issue numbered 134 through 470, • for retlempflon, and shall further state that valorem taxes and other ,funds legally by said electors et said election, In a total Known as King Arthur's Court, to be used as ~, lndusive, maturing on December 1, 1988.?.~ ort the redemption date mere with become avallabletaerelob end such bonds to be sold prindpal amount o} f2,350A0D ("the open space and or recreation and park land; and thereafter, ere redeemable at the option ., • ~ end will be due end payable upon each Bontl and Issued at One tlmeor from lima to time, Bonds"), as herelnalter set forth in this together with ail necessary Incltlental and of the Town Council On December 1, 1987, sd to be redeemed the principal amount In such manner and,amounta and upon such Ordinance; and appurtenant properties and faolities, and 'and on anY lnterest paymenf date thereafteL thereof plus accrued Interest on said terms and conditions ea the Town Coundl WHEREAS, a proposal for the'purChasa of the costs Indtlenfal thereto, the Town of Vail In Inverse numerical order, at a price equal. ' , principa! amount, and mat Irom and after may later determine, Indudlnp provisions of iho Bonds has been received from Kirchner, " shah ISSUe on behalf Of said Tnwn end u ' to the prindpal amount of each Bond So : P•^ - such data interest will tease to accrue. e premium rwt exceatling 3 percent Of the Moore and Company, Denver, Colorado d l h f " the credit thereof Its negotiable coupon ~ redeemed, plus earuetl Iniareat !hereon To • Thls Bond is one of a series Issued by tae prin pa i ereo 7 (••ihe Purchaser"}, upon terms favorable to ~ General Obligation Bonds, Series December .tae redemption date, pWS a premium of 'Town Coundl of the Town of Vall, Colorado„ 2. Publlt Works Melntenence Fadllty Site the Town, which the Town Council of me 1,1917• In the aggregate prindpal amount of `~~ three par centum (3 pefcenU of the principal'. ' on hehall of Bald Town and upon the credit Acquisition Bonds, QUeSfldn SUbmlNetl: .Town of Vall has duly determinetl to, and 52,350.000, dated December 1, 1977, a,m0unf pf each Bond w redeemed, : ° , thereof for tae purpose of providing fuMS to °Shell' tae Town of Vag, Colorado, be hereby does, accept; and ~ consisting of 40 bonds in the tlenominatlon Notice of any redemption shall ba given by defray, in whole or In part, me cost of a0ihorlietl to Issue Its negotiable, Interest WHEREAT, pursuant to Ordinance Np.ll, of (5,000 each, number 1 t0 40, In[lusfve! the Town Clerk In tae name of the Town o} provltlinpan ice skating arena and muliF bearing general obllgatlon twntls In one Series of 1973 0l the Town of Vell, there was P•Yable in lawful money of the United States Valh by publltatlon of such aotlte at leaaf ~ r' purpose ledlity, of acquiring real property series or mor9 In an aggregate prindpal submitted To me qualif led, reglate red amount not fo exceed 6350,000, or ID much efecrora of Me Town of Vall, at a apedal of America. Sold Bonds shall bear interne ono (1) ~tima by Otte f1) publltatlon, such --~ as •vitlent•tl by Avo sets of bearer Interest ~~• PVDllcatlon being. not Iesa.lha0 Marty 1301 ~" to De used for a public works malntananca Fadllty. and of acquiring reel DrOpeHy M be thareol as may be necessary, for the purpose elactlon held on the 25th day of September, Coupons, as herein set torah, one of said seta days prior to Ma redemption data apedfietl ~'_ , used as open spate and or recreation and ' ' of dsiraylnp, In whole or In part, the coat of lyl3, lee quesflon 9f the Imposiflon of a sates Delnp tlasigneted "A",and the other wch set in such notice, in The Vall Troll, Vall/;": ' " ~ ~brk land; together ,With ~ ail necesdery acquirlty a pare•I of real property, known .'. tax on fhb a•I•ol tangible personal property aa. Puli/proprTybDeu••a a/IN IOT q,?^ t allaM M/IUrnlshln4Mgrvlc•s within being deslgnaletl •B". _ Colorado, If Men In buafness and pgblishine, tg If Dot; then In a nevnpapar of gaMral The wbteti 8ondssheil mature {arlallY ln>.at I1t9dental and appurtenant properttea end f adlit '' ies, and tae costa lncfdentalfMrefo, by. ~ Y - ~ ~ - wIM tae Y na'iwrt'e,$ro ~ .. C H e~led or_~Yb'~+f~ g~3 h~r l ws of a~o ~a s~c s ~ u - 3 ~ id ceo a a q enabiP di n11~~((~~, }} ,_ Tugp, ~ ..Bonds being'reueemed, 17 the names and-' ~~ duly atloptad:'p YtShetl andmade a~law'G atltlreaSbS of such holders ere recorded with.: said Town error To tae issuance of tale Bond; 'd -me TowA CIerK, For fats purpose, the holder ~:'~ and it "IS hereby rattled, certlfieA and ~~ of any such Bontl mayat any Elms furnish hla' ;'' walrantad (natal I Me requiremem8 of; few ~nemeandaddresaro'theTOwn'Clerk,Suca:` havebaenfullywmplledwlMbytheproper j'notica shall apedly the numbfrr'or numbers .,` offtcera of the; 7owrt,of Yail ib.issding Finis " of the horde so to DaTedeemeA and the date ~-- . Bond. '- ' ~'~~~~-~, -~ -'.t. ~ - ~~^^ '- -' Ilxetl for retlemptl0n, and shelf further state ~'~ ~ ~ It iE further hereby redted, certl}led and ,..that on tae redemption date Caere-will?<_. warraatetlthet the total indebtedness of said . become end will ba due and payable upon' Town, indutling that of ems Borttl. tloea not °- eaca Band so to be'redeemed the prtnUpall + exceed ~ any consflivtl0nel- or statutory • • ~ ~ ~ e ~ ~ e ~ amountihereof plus accrued Interest on sold -limitation of the State of Cdorado and does - prln<Ipal amount to the retlempTEOn date,'- not extend any limitation of the Town of Vall -^.-. antl.that from and after Such date Interest' -Charter; that et a specal election lAwfu[ly. - j~ ~1~ -~ :;will cease !0 accrue. Any Bonds redeemed `. ' prior To ihalr respective maturit[es by call - for prloe Fetlemption or otherwise whall not " held In the Town on the 4th day of October, 1977,. she issuance of ihla Band- was duly auihori:ed by the' quaEltled. registered • be reissued. and shall he cancelled the same electors of tae Town voting et geld election:~ as Bondspbld a} or after maturity ~ and that provfalon has been made for ma , "' ~ 3 'The prlatlpM of Interest on, and any levy and collection of a direct annual tax on ~ ~ premiums due In 'connection with the ' ail tae taxable property within iho Town /~ -- edemption W ills Bonds shall be-payable In ~ . - '+71Thovt Iimitetlon as to rate or amount and ~ 'lawful money of. the UDiTed States of for the appllcstlon of certain sales tax `\ -America without deduction ton exchange or ~ revenues of me Town, suHideni Today tM ~ \ .collection Charges et Ameriten ~NatiOnaf Interest on and the prindpal of mis Bontl a8 ~ ~ hI Bank, Denver, Colorado, wDlta Is hereby , the same respectiveky bMOme due. ' designated the. paying agent for M[s Dond ' The WII faith and credit of the Sown Of Issue.' . ` Vail, in the County of Eagle and State of • The Rat effettlVe Interest rate on Bonds Of ' Colorado, is hereby pledged for the pVnctual- ' '. ~thts fssve Is 5.5%786 percent. ~ payment of Me prlndpef of aM the {ntareat - The Bonds shall be general obligations of on this Borttl. " d ~ fhe Town of Vall, and shall be payable from'. ` INTESTIMONY WllEREOF; the'~TOwn :`' general etl valorem taxes without Itmlfation ",',,- Counch of the Town of Vail, Coloradq,.has~ ~:~"^as to rate or amount, except tR they may ' ~~ Caused this Bond to be executed In me name. ~? actually. be paid .fromoiher revenues aa:. and on behaH Of sold Town with the facsimile ~ ;iprovided herein. ' ~~ "• - "~ - signature o! the Mayor of said Town, to be .~ ~ 4. Said-Bonds 5aa11 be exeCUtetl"In Me ~ f~ sealed with a'fetslmile of the se6l of said_ T wn t ( tt t d b ;.!'•~, ifs{. ~ "~~~ ,trd~ !!~ ~~s 4~a'• ~~ Vp 'name and on behalf of saEtl Town with the „ ~ ~ facsimilesignatvreof lie Ma or Shall beers o , o M a e . es y tae manual signature of tea. Town dark of said Town, ~ ~' ~~ ~•~. ~ "•pSr;,~i~~!'~,~ ~r r I~~ ~~If! _.~Z+;R I ,~I RJ`~ ~- f# ' w,~ ; y , ,. ~- r . _ \ ~ facsimne of the seal of ihbTown, shall be '•~ ~~ .gyp," =s '~ attested by the manual signature of the ' ~ and has caused the Interest mu s ~ ~ aftacaetl hereto to De executed wits the- ' s , r+~ ~4~ •~. }~.v.;~~ Towh Clerk Of }ha Town, and eaca of said ^,, „ ~a,~i~ ~ ~trwrii ri1i;~~ :.~~-~~ r li ~-Bonds shall nave attataetl thereto en ~ ~ '~~•~ i ~ ~ ' ~ i ~ facsimile signature of iha Mayor of Sald Tow_n,allaaof theist day of December,1477; _ j ~ f I fNrt stir. ;>~i_~~/~ c ~ ~ i ~~~, ~%,p e~~-; r ~ Fri ~ y,~~ ~. appraprlate number of interest coupons ' ° ' ~ ~ TOWN OF VAIL. ~ ` . ! ~,.j 1` y, / •/ r.. _-~,~, ;~ bearing the facsimile signature of the .cc i 7' I" qty ~ , ~ - . ~~ i =~~~p' Mayor. Selo coupons shall ba numbered 417 ~f, ~=~~~ ~~~777 VAIL, COLORADO ~ (FaC•Imitb Slgnaturel ~ ;~ • ~ ~f 1 "' tf Il __'~ „F ~~ e~: !~~: f _ i~- tonsecutlvely from one upwards for eeth ~ Bond as appropriate When issued es _ ' Mayor ATTEST . y; ~ _ .~fl~ , .- . aforesaid as part of snipBOnds,saidcoupons Manual Signature) ~~ i_ ' _ p E wall be the lawful binding promises ahd ; ~ TOwG CIerK ~' , 1 'obligat30ns of the Town accartlfng fo ihetr ..(End of Form Of Bond) - Import securing the payment o! interest as - ~ - `° ~ ~ if becomes due. Should any offiCei whose i (Iaterasl Coupon Form) ' ~ ~ ~` ,:1; manual or Tacsimlle signature appears on ~ ~ ~ f:-... No. . '"'~ Said Bonds or the Intareaf coupons attached ' ~, pn the lsf day o} December, 19 ;unless - ~:,~-thereto cease to be such offlCer IxNOre C the Bond to which }hla coupon Is aHathed, If -, delivery pf,ihe BOntls td the Purchaser, such ` ` redeemable, has been celled for prior • • '-manual or facsimile signature shall ' - redemption, the Town of Vail, la the County nevertheless be valFd and suHideni for all - ' ' ot Eagle and State of Colbratlo, will pay to ,-:: purposes. ~ , ' hearer the amount shown hereon in 3awfut ' 5.' Sald Bonds and the Interest coupons ' money of the United States of American, at ~ ~ ~ w ~ r ~ ~ • ~ '`- 'attached thereto shall be iD 54hatahtldllY the' ~ Ameriten National Bank, Denver, Colorado, . f011oWEng form; ~ - being Interest then due on Ica General - - ~~~ ~ ObllOation Bond, Series December_'1, 7977, "' - ~ dated December 1, 1977, hearing •• _ _ (Form of Bond) No.. • • UNITED STATES OF AMERICA" STATE OF COLORADO -. TOWN OF VAIL 1- - - - "COUNTY OF EAGLE ~ NAIL, COLORADO ~~ _ - ~ TOWN OF VAIL ~ - _ (Facsimile Signature) ' ~ DENERAL OBLIGATIDN BOND ~ "' Mayor • • , • ~ ;ERfET DECEMBER!, 1917 - (Ertl Of lnterest Coupon Form) ~NO. ~ ~-~ fS,000 _, ~ ~ 6. Said Bonds, when executed as provided The Town of Vall, In the County of Eagle ° by law, shaft be delivered by any one of Me . •.. • : officers of the Town to the Purchaser upon and State of Colorado, for value receivetl,,, ~ •• • ' t r . . r t . ~ ~ ~ • ~ ~ hereby acknowledges Itself Indebted and ~,: • c ' Payment to the Town In accordance with the ontract of purchase for the Bonds between • romises t0 pay to the bearer. hereof ihe~ s;: prindpal sumo( ' ~ i_. the Town and the Purchaser. The proceeds s ~- FIVE THOUSANDDOLLART ~':r~..~~~r!.,. exdus vely Or tae purposes scat letlh rel~n,' '• In lawful money of iho United States Of' •'~ ProYided, however, Ma! any portion of the America, on the 1st day of December, 14 Bond proceeds may be tam porarfly invested December 23, 1977 have been submitted to the Planning (4) OnSite parking shall be provided for ~ nor any other action or proceeding as Commission for Ifs consitleratlon and Common carriers providing Charter service commented under or by virtue of the recommendaflons and are hereby approved to the development; Sald parking sites shall provision repealed Or repealed and by the Town Countll; these standards shall be Indicated on the Approved Development reenacted. The repeal of any provision he incorporated In the Approved Plan. hereby shall not revive any prOVI510n Or any Development Plan pertinent to each n) Recreational Amenities Tax. ordinance previously repealed or Development Area to protect the Integrity of The recreaTlgnal amenities tax due to the superseded unless stated Herein. the tlevelOpment of 5DD5; the following are development within SDDS, shah be assessed INTRODUCED, READ ON FIRST minimum development standards and shall eta rate not t0 exceed 50.75 per square foot READING, APPROVED, AND ORDERED apply unless more restrict[ve standards are of floor area and shall be Pald In conluncTlon PUBLISHED ONCE IN FULL, This 20th day incorporated In Fhe Approved Development with construction phases and prior to the of October, 1977, and a public nearing on this Plan. The standards set forth in this Article Issuance of a building permit. ordinance shall be held at the regular shall apply only to Development Area B. (8} Special PrOVlslons, meeting of the Yown Council of the Town of Development Area A may be modified (a) Conservation and Pollution Controls. Vail, Colorado, on The 3rd day of January, provided that no such modiflcatlon shall (1) If flrepl3ces are provided within the 1978 aT7 ;30 p.m.ln The MUnltipal euiltling of Increase the tllxrepancy between The development, they must be neat efficient the Town. structure or site Improvements and the ~ through the use of glass enclosures, and neat TOWN OF NAIL development standards set forth in this circulating devices as technology exists at ~ Rodney E. Slifer Article for Development Area 0. the time of development. v - Mayor (AI LOf Area--Development Area ashall (2) Developer's drainage plan shall gTTEST: consist ofapproxlmatelya,3atres. incwdeprovislonsforpreventtonofpouvtl°n coueenKHne (B) Setbacks -The required setbacks shall be as Indicated on the Approved from surface run-off. (3) Developer shall include In the building _ Town Clerk published In The Vall Troll on December 23, Development Plan, being a minimum of 20 construction In Development Area B energy 1977 , feet from any perimeter property Ilse o1 the and water conservation Controls as general total site. technology exists at thetlme of construction (CI plstance Between aulldlnBS •- The IB) Employee housing shall be provided ~ minimum dlstance5 between all buildings on fora minimum of l0 employees. nities -- Yhe~' ti l A C R } N P bI the site shall be aslndiceted on the Approved . ecrea ona me ( ) Approved Development Plan shall .Include IC OiICO~ u Development Plan. (~) Height-The maximum height of an the following recreational amenlfles: (U A minimum of five atltlglonaf tennis ORDINANCE N0.51 buildings Sha11 be 45 feet (E) Density Control-The floor area of all courts (Development Area A presently has ~ - Series oF197/ - bulidings and number of dwelling units shall three tennis courts with two of them Covered AN ORDINANCE TO CONTRACT AN~ not exceed the fallowing provisions: during the winter season.) Seltl tennis Courts INDEBTEDNESS ON BEHALF OF THE Shall be matleavallable to the general public TOWN OF VAIL, COLORADO, AND UPON on a lee basis, svblect tg reasonable THE CREDIT THEREOF, BY ISSUING Dave! Deval. Totals regulation in favor of owners or guests of the GENERAL OBLIGATION BONDS OF SAID AreaA Area B SDDE development. ~ .~ TOWN IN THE PRINCIPAL AMOUNT OF ' Maximum gross ~(2)TgT Lot-Designed in et[ordance with 52,350,000 FOR THE PURPOSE OF~ re5ltlMtlal existing TOwnfeollities as to materials USetl DEFRAYING, IN WHOLE OR IN PART, floor area In construction, playground equipment, eta. THE COSY OF PROVIDING AN ICE (square teat) 47,000 135,000 198,000 (3) BIKe end pedestrian path traversing SKATING ARENA-MULTI PURPOSE - Maximumnumber ~ property from east property Ilne of FACILITY, ANDOF 50 DEFRAYING THE , of dwelling Development Area A to the west site line of .,COST. OF ACQUIRING A SITE FOR A units 54 135 109 Development Area B shall be provided by pU OLIC WORKS -MAINTENANCE Maximum gross developer with exact location TO be mutually FACI LITY, AND OF SO DEFRAYING THE commercial e[cepl8ble to developer and the Town, COST OF ACQUIRING REAL PROPERTY ' floor area (4) Swimming Pool pn addition to existing TO BE USED AS OPEN SPACE ANP OR (square feet) 18,000 0 1E,(IW Pool in Development Area A) of adequate RECREATION ANp PARK LAND; {F) Building Bulk Control -- Building bulk, size to reasonably serve the needs or the development and shall be open W the pubpe RRESCRIBING THE FORM OF SAID BONDS; AND PROVIDING FOR THE maximum Well lengths, maximum on a fee basis subleCt to 'reasonable LEVY OF TAXES ANp FOR THE dimensions of building groups, and repulatlon in favorof owners or guests of the APPLICATION OF SALES TAX requirements for wall offsets, shall be as - development. ~ REVENUES OF THE TOWN OP VAIL TO indicated On the Approved Development {D)-Add(tlonaf Amenities. PAY SAID BONDS AND THE INTEREST Plan. (1) Ueveloper shat! provltle adequate .THEREON. (GI Sita Coverage -Not mare Than 20 percent of the Development Area a shall be iransportatlon services to Cho owners and guests of the development so a51o transport WHEREAS,-at a Specal elettton of the covered by buildings. them from the development td Village Core goahfied, registered electors of the Town of ~Valh Colorado, duly caged and held on (H) Landscaping and Natural Open Spate area and tlonsHead area. Tuesday, th,: fth day of OctobeL 2977, In -A minimum of 60 percent of Development (2) Developer snail provltle in Its actortlance with law and pursuant to due Area B shall be landscaped or nahlrel o n Approved Develgpment Plan a bus shelter of notice, mere were submitted to Bard electors s ace in accordance with the A roved ' p pp a design and location mutually agreeable to the following questions: Development Plan. developer end Town Council. Sold shelter to serve the Lionsrltlge area generally 1. Ice Skating Arena Multi-Purpose (N Parking and Loading U) OHSireet park[ng shall be prgvided In . 19} If any part, section, subsection, di f l FaNllty Bonds, Question Submitted: 'Shall the Town of Vall, Colorado, be accord with Chapter 18.52 of this ordinance; sor nance tn sentence, clause, or phrase o Is for any reason held to he Invalid, Stith authorized to Issue Its negotiable, Interest at least 85 percent of the required parking shall he located wlthln the male building or decision shell not alfect Me validity of the bearing general oblf0ation bonds in one series or more in an aggregate principal buildings, or beneath accessory decks, remaining portions of this ordinance; and the Town Council hereby declares It wOVld amount not to exceed 51,800,000, or so much terrares, plains, or tennis courts and shall be completeW enclosed and screened from have passed this ordinance; and each part, thereof as may be necessary far the purpose view section, SuMecTlon, sentence, clause or of defraylnp, in whole ar In part, the cost of i i i ti I f li d . (21 No parking or tootling area abaft ba phrase thereol, regardless of tae feet mst SUII5BCt100s, ' any ono or more parts EOCfIOnS r ng, tons r ue ng, ns a n9 an acqu egU110ping an eRGIOEad Ice skating arena eta located In any required Ironf ttetDack area or as the south aide d any building, and no ; , , ~ lientmces, Clagelfs fK phresn be clattered mgltl-purpose fadlltY wltable for parking N bsAinp;~nall M frermlffgQ m gay ~ 1>•verl2, ~~ ~ . 1101 The ~ repeal' or the reveal aM Convantlons, Concerts, exhlbiiloin atM trade ~~~ shows, together • with all necessary ,_ nine In area] designetetl for retreatltsn or tl ' - A ,reenactment of any; provrsion Of 1ha !Nall .Incidental. and appurtenahT. properties,, .~ .pprove open epat0~ Ufa • oil Ma ~ '~ n l i Pl 'Munlclpsl''Coda-,af'provitNd•~In'.-;mis ~. ,r-firuclurec.lacillties end toata,eutfi baldi rq~• st at a maxlfnum net effective' D t'mt , Oeva OpmM a (3I Orivewaya, peswnger Ioadln0 areas. ordinance shah not elfect any right which has ettruetl, any duty imposed any ere ea Interest rate not-exceeding 10 percent per, and perking areas tat laoetetl wlthln a building shall be permitted only as Indicated violation that occured prior To Me effective any prosecution commenced,. date here0l annum, and To mature serially during a ;period of not more than 30 years from the on the Approved Devela meat Plan. P , , ~ s: date or respective dates of the.bonds, Such" " ~ ~ ~ ~ - .. bantls.:,tg.,..De--paya4re frohL~-gePlerbf ed :- _ ' valorem taxes and-other .funds legally •; t , availabletherefoM1 and such bonds fo De sold'i_ -~ , ', and issued atone tl me or from Nme to time in such manner and amounts and upon such O term4 and Conditlon5 as ihf Tdwn CoUnCll may later tletermine;.including provislMS . - ,... bonds prtor fo-: !or the redemption of maturlry upon payment of a premium not ~; exceeding 3 percentof'the„ principal ' ' ~ ihereol?" ' ~ ~ ~ 2. Public Works Maintenance Facility Site ' ' Acquishlon Bonds, Question Submitted: ' ~ . ~ "Shall the Town bf Vail, Colorado, be TLS fy Nye /y ~ I IB r1IgrI1 s s RbanC~ ~ ~ authorized to issue Its negotiable, Interest bearln9 general obligation bonds in one _ r more In an aggregate principal i ' WEST LAKE CREEK - es o ser amount not to exceed E3S0,000, or so much thereof as may be necessary for the purpose South of Edwards, 17 miles west of Vail, this of defraying, in whole'or In part, the cost of acquiring a parcel of real property, Known , ~ hr0(J@rty iS One of ihfa m ost b@aUflfUl In fh@Lak@ ;, atone Pauspraperty to be usedasasuetora 280 acres, Creek area Or I@S5, BXC@II@flt Wafer I ltl nt llland ~ P h ta l n e d w , ~~ rights and OWn@f flnaflCiflQ. ~ nc e a ecesSarV it l og ther appurtenant properties, facilities, and costs, Ranches in the Gypsu m and Edwards Areas such bonds to hear interest at a maximum net effective interest rate not exceeding l0 AISO AVQiitdbl@ ~ percent per annum, and to.mature serially during a period of not more than 30 years from the date or respedtive dates of The bgnds, such bonds to be payable from Slifer and Company general ad valorem taxes and other funds legally available Therefor, and such bonds to Rod Slifer Dick Bailey be sold and Issued aT one time o(from time DC1VId Sag9 Bob K@ndall ROb Ford. to time, in such manner and amounts and Town diti a th d 476- 2421 ons s e con Vpon such terms an Council may later determine; inclUtling Box 1248 -Vail, COIOfadO 81657 P O provisions for the retlemptlon Of bonds prior . . to maturity upon payment of a premium not exceeding 3 9ercenf of, the prindpal thereof7" ~ '~ .. .. ... ,....... .~K., Please Turn to Page 70 >r ~~ ~ . ~ ~- ` m 1, .V~.. Season's Greetings from the all-new KVMT FM 104.7 `" l'Yte Vail 'frail N ,y .y, ' i 1 7~ (' '~ Y Y I - ! t S ~~`~ •') 1 t : 1 si -' ~1 ' li ~ Y~.~~ t~~' •~ Y. saticw A 4 _ . - . - ' ' LUXURIOUS LOG HOME ' ~ IN AN ASPEN GROVE - This four bedroom, two bath and den log residence . features a largge, modem country kitchen, hugellying room with mossrock fireplace and spacious master bedroom. A ' double Car garage and roughed in area for a two bedroom rental apartment or additional living area with its own mossrock fireplace enhance this exceptional value in a .prime Vail location. Country living at ifs finest Just five ' minutes from Vail Village., Over 4000 sq. ft. for $155,000, We give you PALmflTEER a hand ~~ ~E~L ESTflTE ~ 1 1 476-4608 or 476-5031 546 South. Frontage Road Box 207 -Vail, Oolorad0 81657, ~ ®"~ ~~' Give. the gift that keeps on giving, , ° Give The ' Yail Trai~~ ' ~ ' . ±idc..:r.Y:- 'SY ? '°. v... i n+MV4Yil,W.il,, l h~_. '_ +. `f{ i~ 1 l• v fc.. ~ _$.~a ru't' ~,, ~.~ x-:I f i) , , ., ~ - ~ti' - ' 'Incomparable views,` Couhty malntalned roads, easy accessability to Vail and the new Beaver Creek ski area, .- `underground utilities (no tap fees). Financing availableto qualified buyers. Large homesrtes available from $19,800' From Vail via I-70 west to the Wolcott exit, then south on . "..'the Bellyache Ridge .road for four miles to the Safes Informatton sign, or contact on-site sales represent$tive ' Raymond Young at 926-3952 ' ,.`Obtain WUD Property Report and read it before signing,; anything, HUO neither approves the merits of theoffering. , ; nor the value, if any, of the property. ~ ~,' 9ROOKTREI: TOWNHOUSE CONDOMINIUM ` ONE EEDROOM , ''One. bath, full furnished, end unit, assumable loan at ',' $32,000. Irene Young at 476-2446 or478-132t MANZANILLO, MEXICO CONDOMINIUM Two bedroom, two bath at Vida del Mar overlooking the Pacific Ocean, Fully-furnished and equipped, Pools, go3f„' . tennis and beach,. $47,500, Tom O'9rien at 476-2446 oc ,,' , 476-1221 t ~ SUNNY EAGLE-VAIL. -``Corner lot with good views. All utilities, assumable loan, priced below market at $21,500. Raymond Young at 478 - r_: ,; ., 2446 or 926-3952 ; „-. ,, -~ EAST VAIL LOT - ' ~~ ~ ' ' Southwegfcorner.of Lupine Drive and Willow Way duplex ~zoned,acreage,.:624,.reasonably paced at $16,000. Irene ~,, Young at 476-2446 or 476-1321. •.• ~ ~~ ' ~ - -~ INTERVAL SALES: - ~ ~ ~ - ~ - • •. ;Vantage PDint, Week of March 25th to April 1st, two - ` bedPOOms, two baths, facing ski slopes, short walk to Gondola:,Call Torq O'Brien at 476-2446 or 476-1221 _; The Wren Condomihiums, Week 24, June 17th to 24th, 1976 and-Week 36, September 9th to 16th, 1979, one . ~, bedroorn, two baths, good view, walking distance of = village. Call-Irene Young at 476-2496. or 476-1221 , CANADA'S OF VAIL, LTD.:: ': ~~ Suite 101 Vail Professional Bufloing ' ' ' ~ P.O. Box 276 veil, Colorado 81657 ~ ' 476.2446 <. - ~ ~` 70 The Vail Trail _l O Warehouse? ~'~? Light Manufacturing? . Retail? tr', - ..1~.-1.,:..,, ~_ - -„ ~ „ '~`,I I~r.~,~y ~t - a `s I ~ ~ ,~M x r.~~,;' I' ' ~ ~-, ~~L ' F } ~ u IF r iii ~ - -` tl9ily ~ ~ t 51w .-..J..w:e~ Reasonable Rental Rates The Eagle-Vail Business Center may hold the answer for your needs in Vail. Our standards are far above the competition but at such a reasonable price it will surprise you, Call us for a closer look at the Eagle-Nall Business Center. Slifer and Company Rod Slifer Dick Bailey David Sage Bob Kendall Rob Ford 4762421 P.O. Box 1248 - Vall, Colorado 87657 ~i'v"e T~.e family A Tr~~,t! Enjoy Dinner At _nneTQ~Vail'-s. Sine. Restaiu>~ar Eagle Voil Golf Course West one-half of three bedroom, two bath duplex with emphasis on high quality construction and design. Includes heated garage and storage, three decks, skylights, vaulted ceilings, tiled entry and kitchen, humidifying system, panoramic views and much more at $92,000. . Chorming Townhouse Sunny, southern exposure and beautlfulviews of Gore Range. This completely furnished townhouse includes two bedroom, 1 bath unit on upper floors, plus one bedroom, 1 bath on ground level. Sunken brick fireplaces, beamed 'ceilings and balcony. Excellent flay at $66,000. Eost Lake Creek Acreage Approximately 40 acre parcel of resource zoned land. Easily accessible hideaway. East Lake Creek flows thru property. Aspen and Colorado Biue Spruce accent rolling meadows. Sunny 1_ake~Creek Home Two bedroom, one bath Home on 7..1 acre lot. Custom interior with lots, of wood and windows. Moss rock fireplace. Unfinished basement with roughed-in bath, excellent for expansion. $80,000. PETERSON REAL ESTATE COMPANY P,O. box 2875 • Vail, Colorado 81657 December 23, 1977 3. Open Space Acquisition Borttls, Ouestlon shalt be payaliie December 1,1978, and saint' The Bonds shall be general obligations of ' Submitted: annually lhereaNer on The~lsi'day of Juna ~ The Town of Veil, and shall be payable from "Shall 1Re' Town of Vall, Colorado, be and the 1st day of Decembei of each .year. II general ad valorem taxes w[MOW Iimltation aulhorUetl to issue its negotiable Interest ' upon presentation at maturity payment of as to rate or amount, except as TRey may bearing general obligailon hoods in one the principal amount pf any Bond Is not actvaily be paid from other ra4envea as series or more in an aggregate prlnclpal, made as provided herein, Interest shall provided herein. amount not fo exceed 3200,000, or so moth tonilnue at fpe "A" wupon rate stated q, Saitl Bonds snail be-sxfauted In the thereof as may be necessary, for the purpose ". Therein until payment of said principal ,name and on behalf of said Town wtm the of defraying, in whole or in part Me cost of ''-amount is made in toll. In atltlltlon, all BOntls tacslmlle signature of iTS MayoL Shall bears acqulring a parcel of real property, known. ~ shall bear per annum "B" coupon (nterest facsimile of the seal of the Tovm,shall be as King. Arthur's Court, t° be used as o n -for iha period from March 1, 1978 to attosTed by the manual signature of the space and or recreation and park land, December 1, 1919 anly~ as Indicated in the Town Glerk of the Town, end each of Saitl together with all necessary incldenlal and following table. Sold 'B" coupon Interest goods shall have attached inereto an appurtenant properties and facillTles, and shall be payable December 1, 1978, June 1, ' appropriate number of Interest coupons the costs incidental thereto, such bonds to 1979, and December 1, 1979. , bearing the fa<slm0e signature ,. of the bear interest at amaxlmum net effective ~ - ~ ''Mayor. Saitl Coupons sRalf be numbered interest rate not exceeding 10 percent per _ ~ consecutively from one upwards for eacn annum, and to mature serially daring a $u ~ ~ ~ ~ a~ Bond a5 appropriate. When Issued ~s perlotl of not more than 30 years from The _ ~ 'o - E~ 'aforesaid as part of sold Bonds, saki coupons date or respective dates of the bonds, such E a - _ " E ~ ~ ~ shall be The lawful binding promises and bonds to be payable from general ad ~~ _ a~C ~ Q ~ ob{igatlons of the Town according to'lhelY valorem taxes and other farWS legally 2 ~ -~ ~ $ m _ • import, seouring4he payment Of Interest as available therefor, and such bonds to be sold '~'ros " f ~ g.' '• ~ a~ it becomes due. Shwld any oHlcer Whose and issued crone time or from time to"time, o e ~ _~ ~ manual or facsimile signature appears on in such manner and amounts and upon sucR _~. m `~ • i ~ ~ ~ - ~' d ~ ~ "A" ~ "B" said Bonds or the interest rnupons attached Perms and conditions as the Town Council . ~- ~- ~ thereto tease t0 be SUCK offi[er before may later determine, Including provisions - ~ ' delivery of the Bonds to She PVrchaseRsuch for the redemption of bonds prior Toy '~~ 1107 v- '-19/9 >'~ 335,000 ' - 6.5 1.5 manual or, facsimile signature Shalt maturity upon payment of a premium not ' ~_ 8to 16 "-~ 1986 "- 45,000 6.5 1.5 nevertheless be~valid and sufficient. for all exceeding 3 percent of the principal. - 17 to 37 1981-~• 55.000- ~° 6.5 1.5 - purposes. fhereof7^ ~ - 26 to 40 ~~~ 1957 i.: 65,000 6.5 1,5 - 5. Said Bonds and the interest coupons and ~ - 411055 ~ ~ 1983 ~. ~ 75,OW 6.5 ~ 1.5 attached thereto shall be In substantially the ' WHEREAS, as evltlenced by the canvass ~ M1o 77 1984_ 85,900 ~' 6.5 1.5 ~ ,following form: ~ - ~ - of the returns of sold election, more than a ~ 73 to 91' - 7985 '-~ 95,000 6.5 1.5 ~ ~ -~ - 92TO111 1966 :'~'1g0,000 ~-'~6.5 1.5 • malorlTy of said electors voting on each of ~.' 112 to 133 1987 • 110,000 5.0 1.0 (Form of BOntl) • Bald questions voted in favor of issuing such (34 to IQ -1988 130,000 5.1 3.9 UNITED STATES OF AMERICA bands; and 158 io 1e3 1989 130,000 SS 2.8 ~ ~ ~ -STATE OF COLORADO WHEREAS, the Town Council of the T9wn 184 to 311 1990 140,000 5.3 7.7 COUNTY OF EAGLE of Vail Res tleterminetl, and does' hereby ..217 to 242. 1991 155,000 6.4 7,6 TOWN OF VAIL _ determine, to issue at this time general 743 to 275 1991 . 165,000 5.5 2.5 - GENERAL OBLIGATION BOND ob{igation bonds tOr the purposes authorized P76 10310 1993 ~~ 175,000 5.5 2.5 _ SERIES DECEMBER 1, 1977. by said electors aT sold election, in a total 311 To 34 ~ 1994 185,000 5.tr 2.4 ~No. ~ 55,000 principal amount of 32,350,000 ("the 346 TO3B6 7995 195,000 5.6 2.4 goods"), as hereinafter set forth In this 387 To 437 1996 705,000 5.7 7.3 The Town of Vaih. (n the County of Eagle Ordinance; and ~ '.QBto 470 ~ 1991 ~ 715,000 ~ 57 2,3 and state of Colorado, far value. received, WHEREAS,aprOposal for the purchase of ,. hereby acknowledges itself Indebted and the Bonds has been received from Kirchner, - promises To pay to the bearer hereof the Moore and Company, Denver, Colorado • Payable far The perlotl from MarcR 1, 1978 principal sum of ' ("the Purchaser"), upon termsfavorable to to December 1, 1979, only. ~ FIVE THOUSAND DOLLARS the Town, which the Town Council of the Bonds of ihls Issue numbered 1 through ~ in lawful money of-The United States of Town of Vail Ras duly determined to, and 133, Inclusive, maturing an. or before ~ ,America, on the 1st day of December, 19 hereby does, accept; and December 1, 1907, are not retleemahle prior WHEREAS, pursuant la Ortllnance NO. 11, to their respedlve maturity dates. 8ond5 of 'fhiehmalvrltyt dai~otrthlst BOnd,eex apt 3f Series of 1973 of the Town of Vall, there was this- Issue numbered 134 through 470, submitted t0 the qualif ietl, registered inclusive, maturing on December 1, 1988, ~~ redeemntl prior thereto, as evidenced by one electors of the Town of Vall, ai a special and thereafter, are redeemable at the option. sat Of bearer Interest coupons designated election held on the 75tH day of SeptembeL of the Town Council on December 1, 1987;'- A°' hereto attached aT the [ale of 1913, The question of the Imposition of a sales '• Per centum ( percent) par annum, tax on the sale of to ngihle personal property and on any interest payment date thereafter, payable December 1, 1978 and semlannualty aT retail and ihefvrnlshing of services wlthln ~ in Inverse numerical order, at a price equal thereafter on the 1st day of June and the 1st to the principal amount of each Bond 5o day of December of each year, aatl the Town of Vaih and retleemetl, plus accrued Interest thereon to . ,additional interest, for the period from WHEREAS, as evltlenced by the canvass the redemption date, plus a premium of March 1, 1978 to December'1, 1979 only, as of the returns of sold election, more than a three per centum {3 percent! of the principal evidenced Oy a second set of nearer interest majority Of Bald electors voling on sa ld sales amount of each,Bond so redeemed. coupons tleslgnatetl "B" hereto attached at tax question voted In favoY of imposing Sold Notice of any redemption shall ba 41ven by the rate of per centum sales Tax; and : ~ the Town Clerk in the name of the Town of -..portent) per annum, payable December 1, WHEREAS, the Town Covncll of the Town .Vail, 6y publication of such notice dt least 1918, June 1,1979, and DecembeY 1,1979. The , of Vail has esttmated and determined, and one ll) ilme by one h ) publlcatiort, such.;, principal of, Interest on, and any premiums saes hereby estimate and determine; That PubgtaTion being not less than thirty (30I ,,,. due lhegnneclion with the retlemplion bt this ~-' the principal maturing and tfine iniere8l days prior to the retlemptlon date speClfietl ,;;; Bond are payable Without deduplon'for accruing on sa ltl 53,350,000, the principal -~ In sucR notice,, in The. Vail Troll. Vail, ~•;,; exchange or collection charges at Amarlcan amount of the Bonds of the Issue auihtlrizetl Colorado, if iRen in business and pub! lsning, =t ~ ~ National Bank, Denver, COIOYado, upon - herein, can be nieT from revenues derived • and it not, then In a newspaper of general ~~~' presentation and surrender b sold [ovponE from sources other than general ad valorem •. circulation in the Town of Valb and by ~ and this 6ontl as they severally become due. properly ;ax`e`s, Including, without ~ sen~ing a copy Of such notice by cerll(182 8P .,. ~jj upon presentation at meTlfrlty payment of Ilmitatton, the revenues f0 ba derived from ~ Yeglatered first-blaaE,.llostage prepeld mall, the principal amount of thk Bpnd knot. the sales fax autnorizetl by sold Ordinance ai least Thirty (30) days prior !o 'the .made, Interest shag continue at the °A" No, 11, Series of 1973, and approved by the redemption tlafe, to the holdersol each of the' coupon rate stated herein until payment of aforesaid electors voting et the sfpresald Bonds being redeemed, it the names and said principal amount is made in full. election, and ~ addresses of such holders are ecprtletl w ih Bonds of }h IS issue maturing On or before _ ,..ERL'A. ~ .d~,.~ r'i r i I g. _ .. ~ ~of,vail h s'tletermined,`and does t1 e6Y(a „u rHald ma. eny'ti~mo~irmi"sh'hls~}Othelr respectvV maturl#y"d"aYei Bahds-oF~ - determine, .that It Is necessary and in iheame~and address to iha Town Clerk, such .~'m IE. Issue mafuring In m• Year ^1990 and! De51 interests Af The Town Of Vail and the "~ notice shall speclEY the number nr numbers -thereafter are redeemable of the optlan of - inhabltanis thereof that' the Bonds in the of the Bonds so t0 be redeemed and the date ~ the Town Council on December 1, 198Y, aatl total print€pal amount of E3, 350,000 be HOW fixed tOr redem ptlon,.and she(! further state pn interest payment dates Thereafter, in Issued in atcortlante wlih the provis[ons of ~ that on. fha redemption date there will „ inverse numerical order, at a price aqua! to this Ordinancg. become and will be due and payable upon lr:the principal amount id each Bond so NOW, 7HER EFORE, BE IT ORDAINED ;each-6ontl so To be [etleemed the Drincipal„ redeemed plus accrued interest thereon to BY THE TOWN COUNCIL OF THE.TOWN amount thereof plus accrued {ntere5l on said `the retlempilon tlafe, plus E premium W - OF VAIL, COLORADO, THAT: ~ P[Incipal amount Tp the redemption date, - Three per dentum (3 percenil of the principal }. On October 18, 1977, the Town Council and that from and offer such data Interest >'t amount of each 6ontl so redeemed: will cease to accrue. Any Bonds retlesmetl ~ RedempTlon shall be made upon not less duly adopted Its Resolution authorliing prior to their respective maturities by cap -;'~ than thirty 130) days' prior notice by Notice of Saleof the sublecT Bonds. The lorm tar prior retlempilon or otherwise whall not - - publication oT such notice of least one (1) - of "Notice of Bond Sale" and the form of he reissued and shall be cancelled the same timeby one (1) pubpcailon, svcR pvbOCanon "Of/fcial Notice of Bond Sale" stated that. as.BOnds paid of or after maturity. '~.`peln9 not less than thirty (30) days-prior to the coupon interest on the Bonds should not ~ 3. The principal of, interest on, and any • the redemption date spedited InwMilotlce, exceed 8 percent per annum, and that It was premiums dye in connection with The ' in The Vall Traih Valh Colorado, it then In antidpated that delivery of the Bonds would ,redemption of the Bonds shall ba payable in ~. business and pvhllsmng, and if riot, inert m a- bematl•onor about December 73; 1977, Bald lawful money of the Unltetl states of~ 'newspaper of general circulation In the forms were revised prior to their publication America without deduction for exchange or -Town of Vail, Colorado, and by sending a to state'that the maximum net effective collection charges at American National ,copy of such notice by cerTilietl Or registered lnteresi rate for the Bonds shall not exceeds Bank, Denver, Colorado, which Is hereby' ~ first cFaSE, posTafle prepaid math at feast percent per annum,antl that ltisanticipated, designated the paying agent for this bondthirty(30)tlayspriorto meredempifon date, that delivery of the Bonds will be made on ar issue. _ to the holders of eacn W the Bonds being about January 77, 1979. Sam revisions are The net effective interest rate on BontlS of ~~ -redeemed, if the names and addrnses of hereby ratified, approved and cOMlrmed, this Essue is 5.596786 percent. - ~ such holders are recorded with the Town. 2. Pursuant to the authorization conferred - ~ ' by the qualifletl, registered electors of the Town of Vail at a special election duly called and held on October 4, 1977, and (or ine - - _ purpose of defraying, in whole or in part,the '~- cost of; (a) provlding an enclosed ice skating arena and mulli~purpose facility NOW ACCEPTING RESERVATIONS :. suitable for conventions, <On[2r}5, exhibitions and Trade shows, and Ib) ~ ,~. - acqulring aparcel of real property known as - the Pulls property to be used as a site fora .( .,, '' proposed public works maintenance fadllTy, ,9a'~~ I {.. - ' and (c) acquiring a parcel of real property, ~ fff known as King Arthur's Court, to be used as ~ I ~ ' open space antlbr recreation and park land; ~ VII ~. , together with all necessary incldenlal and ! ~ I ' 'r ' I,j ~ i - ' appbrtenant properties and facia ties, and it i'i~ ~ - I - Ili ' I r„i the costs incidental lRereto, ine Town of Vail it I f shall Issue on behalf of said Town and upon ~ ~~ I ., I il. i ~ ilry„ ~"- the cretlli thereof its negotiable coupon r~ {~'~ ~ „' `'\ I I - General Obligation Bonds, Series December 1 "-' 1, 1977, in the aggregate prlncipak amount of ~ 1J'~\~ ~ i ~u„~i ~ ~ ~ {Q 52,350,000, dated December 1, 1977. , 1„l, 1 consisting of .p0 Dontls in the denominatlon ~ ~ ~ ~ ~ ~"'-"~• of 35,000 each, number 1 io 470, inclusive, /'~ payable in lawful money of the United States ~,, Qandstone P21t'k CiondOnl~nsum$ ' of America. Sold eontls shall bear Interest v as evidenced by two sets of bearer interest coupons, as hereto set forth, one of Bald sets 1 , ' • phase I scheduled for Completion July, 1978 being designated"A",and the other such set • 161st e, uxur 2 and 3 bedroom residences ' being designated "B". ~ 9 y , The subject Bonds shall mature serially In ~ . 'Sunny, sNeamside site ~ ~~ regular numerical order on December 1 od eacn year, and Shall bear per annum ••A" • Dramatic contemporary design -'~ coupon interest from December 1, 1977, t° ~~ ' ~. • Close-In location On the Red Sandstone Bus the maturity date Of each Bond, except if redeemed pYEOY theYefO, dE intllcaied IR the " -~ -- ROUte:.. and Haar the new Pedestrian . following table. Sold "A" coupon Interest.- ~ ~ Overpass. , • Great views of Vail Mountain • Priced from... $65,000. .CONTACT.' EXCLUSIVE SALES AGENTS VAIL: 476-1600 TOLL FREE DENVER LfNE ~ 5345025 Y1 48 The Vail Trail THE ~'RIN~EI~,Y AT VAIL, LTD. FuIE Service Printing &f Graphics or While You Wait Quick-Copy Service- • Convention Material • Announcements • Full-Color Work • Business Forms • Business Cards • Form Letters • Rate Cards ' • invitations • Brochures • Stationery • Programs • Posters I • ~ Menus • Flyers 1901 N. Frontage Rd. Vail 476-2248 Eat, drink, be merry and read the nail i'rai~~ December 9, 1977 r ~~ y~i /tea READING, APPROVED AND ORDERS F[O7nPAge47 // ; Pub~'\j NVa~y~i PUBLISHEDONC£1NFULL,thisathday , ~ December, 1977. A Public Hearing On thl THE TOWN OF VAIL, COLORADO, AND - '~ R DINANLE N0 74 ::~ " ~~ proppsetl ortlmarRe shah be Wald by th AUTHORIZING THE E%PENDITURE OF SAID APPROPRYATION AS SET FORTH , G . ~ ~ ~ Series 0119/7 ~ , Town Council; at 7;30 p.m. on Tuesda December g0, 19)7 at the Town of Va HEREIN ~ AN ORDINANCE AMENDING a£CT ION ' Murtiti pa4 Building, Vali, Colorado, and It f WHEREAS, contingencies have arisen . iB.SZ.1700F THE VAIL MUNICIPAL CODE hereby ordered that notice of acid meetln during The Ilsaal Year 1977 whkh could not TO ALLOW FOR THE LEASING OF be Divan as required by taw, have been reasonably foreseen or PRIVATE PARKING SPACES; SETTING . ' _ ~ - TOWN OF VAI anticlpatetl by the Town Council at the T1me THE REQUIREMENTS AS TO - FORTH ,- ~ Rodney E. Sllle it enadetl Ortlinante No. 35, Series of 1976, WHO IS ELIGIBLE TDLEASE PRIVATE - - Mayo adopting the 19718utlpet and Financial Plan PARKING SPACES, NUMBER OF PARKING SPACES THAT GAN BE g7TE5T: ~ " ~ - ~ for the Town of wall, Colorado; WHEREAS, the Town of Vall has received LEASED, LIMITATION ON THE TERM OF . Colleen Kline ~ ~ _ Town CIerK tertaln revenues not budgeted for THE PARKING SPACE LEASE, REQVIREMENTS OF THE LESSOR TO published In The Vall Trail 00 Deeember 9 prWHEREAS, the Town prev1ou51Y adopted ~ SIGN AND OVERSEE THE LEASED 1977• - "' ~ , a Budget which Was not taken into SPACES, AND ZONE DISTRICTS IN WHICH PRIVATE SPACES, CAN BE ~ consitleratlorl the Increased expenditures required for the newly formulated Rural LEASED; SETTING FORTH ; Transportation Demonstration Program; T A U ~~~~~~ Not~e® ~WN ER SAS, the Town Manager has AND ADMIN STRATOR ZONING THE certYfled to the Town Council that SUNltlent )SSUANC£ OF A LEASING PERMIT; REQUIRING PARKING UTILIZATION ~ RESOLUTION NO, 17 funtls are available to discharge the approprlatlon referred to herein, Hal STUDIES; AND, SETTING FORTH ~ , ~ ~~ Series et 1477 oiherwl5e reflected ]n the ButlgeL in ~. DETAILS IN ..RELATION TO THE A RESOLUTION OF THE INTENTION OF a<cortlance with Section 9.10(x) of the FOREGOING. THE TOWN COUNCIL TO ESTABLISH Charter of the Town of Vall, Colorado; WHEREAS, Section 19.4.170 of file Vell 9PEDEST RIAN MALLS ON BRIDGE WHEREAS, the Town COUncii finds chat ii -MUnitipal Code Arohlbtts The IpeSlnq of STREET, GORE CREEK DRIVE FROM Is in the Intere5} of the Town to fund the. parking Spaces; and WILLOW BRIDGE ROAD TO THE VAIL above mentioned Item: antl WHEREAS, parking S1Vtlles antl TOWNHOUSES, EAST MEADOW DRIVE WHEREAS, In order to accompl(sh me considerations done by the Department of FROM GORE CREEK ROAD TO VAIL toregoing, the Town Council finds that it Community Development of the Town ' ROAP (WITH THE_ E%CEPTION OF THE should make a supplementaV _,.,...,...ation tndicate that the leasing of private parking INTERSECTION OF EAST MEADOW from the Rural Transportation spaces may 6e deal cable, and a praposetl DRIVE AND WILLOW BRIDGE ROAD Demonstration Program Fund; ~ recommendation was suhmiNed to the AND THAT PDRTfON OF EAST MEADOW NOW, THEREFORE, BE 17 ORDAINED Planning Commission in accordance with DRIVE ADJACENT TO THE "BY THE TOWN COUNCIL OF THE TOWN ~ _ the amendment procedurestlf Title la Of the CROSSROADS SHOPPING CENTER), OF VAIL, COLORADO, THAT: ~ Vail Municipal Code; and, AND HANSON RANCH ROAD FROM THE (1) Pursuant to Section 9.10(8) of the WHEREAS, after notice and public MILL CREEK COURT BUILDING CHUTE Charter of the Town of Vall, Colorado, the hearing the Planning Commission TO BRIDGE STREET, IN THE TOWN OF Town Council hereby makes asupplemental recommended tO the TOWn council that Title VAIL, COLORADO; MAKING THE appfoprlatlon In the sum of S}7,OODfrom the is be amended to allow for the leasing of DETERMINATIONS REQUIRED BV Rural Transportation" Demonstration private parkln0 spaces under certain LAW; DIRECTING THAT NOTICE BE Program Fund gf the 1977 Budget antl condhions and fn certain areas; and, GIVEN; AND SETTING FORTH DETAILS Financial Plan for the Town of Veih WHEREAS, }he Town Council has IN RELATION THERETO Colorado, and authorizes the expendllu[e at received Bald recommendations, published WHEREAS, the Planning Commission, said appropriation Wr initial organ) zatlonal notice of a public hearing, Held a pubNC , Town Stall and the citizens advisory expenses of the Program. hearing and thereafter finds that the leasing ~ Commlttae nave retOmmentletl that' the - (7) The Town Council Hereby autho[IZes of private parking spaces would be In the Town Council move forwa[O with the steps and ratifies the execution by the Mayor antl Interest of the public health, aafeTy.and required to establish pertain mall areas the Town Manager of any contracts or Other welfare. under the 1970 Public Mall AGt, antl the.. necessary Instruments to carry out the acts NOW, THEREFORE, BE IT ORDAINED Council agrees with the recommendation for which funtls are appropriated-herein. BY THE TOWN COUNCIL OF THE.TOWN'">. antl i5of theview that aelion should be taken (3) Upon its enactment, finis ordinance OF VAi L, COLORADO THAT: ~ - ~~ ~~ '. thereon;. shall be an amendment to the 1977 Annual S@CTION 1. Section 18.4.77(1 'fie hereby - NOW, THEREFORE, BE IT RESOLVED Approprlatlon Ordinance, Ordinance No. 35, repealed and relnactetl to read asfollows: BY THE TOWN COUNCIL OF THE TOWN Series of1976, of the Town of Vall, Colorado. la.5t.17i1`LEASINO~OF-PARKING OF VAIL, COLORADO. THAT: INTRODUCED, READ ON FIRST SPACES. ~ ~ ~ ~ - ~ (1) The genera! tlescripflon of the streets READING, APPROVED AND ORDERED or building ' (al No owner, otcupani and public ways proposed fo be esiabllshed PUBLISHED ONCE IN FULL, this 6th day ~ manager or theirrespective agent or as pedestrian mans are: of December, 1977, and a public hearing on ~ representative, shall lease, rent, convey OF ~ (aI Gare Creek Drive from WilEow Bridge this ordinance snail be held at the regular ,.restrict the use of any parking space, spaces Road to the west 'antl . of the Vail meeting of the Town Council of the Town of Or eras to any person other then a tenant, TWmhbuses; - Vaih Colorado, on the 7mh day of December, occupant or user of the bunding for whl th (b) East Meadow Drive from.GOre Creek 1977 at7;30 p.m. In the Munitl pal Building of 4he space, spaces or area are required to be Road to Vell Road (with the exception of iha the Town, ~ -provided by the zoning ordinances or intersetiion of East Meadow., Drive- and TOWN OF VAIL ~ ' regulations of the Town except as may be ' Willow Britlge Roetl antl that parflon of EesT Rodney E, Slifer - apecifiCa]IY provided In ih15 Settlon. Meadow Drive etliecenf to and, aoufh, of _ Mayor (b) Parking space, spaces orareas may be ~Lrossroads Shopping Cenferl:~ -. - ATTEST:~ ~_ leased by the owner, occupant or building ~ fU Brldpe Street; and Colleen Kline. ~ ~ 'manager thereof in accordance with -the (d} Hanson Ranch Road from the Miil Town fleck - folEOwlnp; r ~ Creek Court Building Chute t0 Bridge Street, Published in The Vall Trail on petember 9. (1) Any owner, octupam oY building ' ::-a1L within the Town of Vaih Coloratlo..- ~ i977 riages manager who owns, occupies ar ma (1) The intersections of East Meadow , ten tl0) or more private parklnB spaces located in Commercial Core 1, Commercial Drive and Bridge Street, B[Idpe Street and Hanson Ranch Road, and Bridge Street and ' pore ~, 61gh DenAIW MYltiple FeMlly, .... ,. ...w....,.,, . ;nn. Cn.clel-. Gora Creak Drive WIII tx Pall of iha _wwues,.nma,~wru.a. .. aa~w ' ~ I S ~ ruce Va e Raxich y An Exclusive Living Environment ,_ _. , I l'?'1 I t 4~ } 1 * z r+ z rl"Iro 1(1td~ ~ ~ ~- -1+ ~ ~ , , ire f•,s s I .e y ~1 ~ t`'Z ti 1a1 L~l~~ rT ~'e~ [ r », y e- 4 P4 ,, ,.f ~~ i. ~ Y'i~~t ; -4 ,:1 .F!["w¢Syti`<'M.Y~~ ~ ~ ,~ pa - ~ r~ t ~ ~ r,. ix ~'hw~' . -- ~~5 ' I ' ~ ~ E ~' ^ 1 ~'}1, qtr '/'. I YaO's.+...~ y ~ ~ , f t ~'. ~' ~ 11 r t ~ ~ r . ,,ff~~ .~ ~?\~~~'. ~1 ~..Y9 ~'~ ft I ' t "~- s n. t •7t ~ ~~ ~ ` ~} ~A ~` ~ ~ r3 .• ~ '_ : _ 1 a .~. ,~, .., J ~1 11 . 1 ~ "~~ ' J -• ,. b ~ ... rh ,.. .. .~.__ ~...~ .,. _.r.a-...._ ~ u~~,....m _...u....._ SPRUCE VALLEY RANCH represents a unique opportunity. Forty-one very special homesitea - that range in size from two to four acres. Over aevent~~++-five acres of open apace will remain as you see it now... unspoiled, Uently sculpted hills will be left unacarred, wild flowered meadows... unblemished, luxuriant groves of aspen pine and s ruce... untquched, with a natural fish-rearing habitat along )'ndlana Creek left to nature's course, ' All the amenities offered by the Ranch are consistent with.the nature of Spruce Valley: cross-country skiing, hiking trails, bridle paths, two miles of private fishing along Indiana Creek, paved country roads for bicycling, a stable for your horse, a tennis court, and trap shooting. The nationally renowned resort of Breckenridge, considered one of the moat popular ski areas in Colorado is only two miles away.., a refreshing bicycle ride or crosa•countryaki run trot those living on the Ranch. Write Or Call For More Information ' Post Office Box 715 Breckenridge, Colorado 80424 (30.3) 453-2600 Or Sea Your Vail Rtaaltor a psrmlt 10 lease private parking space ;Inquiry made at iha office Of tM Town Elerk,: (g) Appildatipl shell be made an,e-.form - =°Town klf Vall MuNcipel `Nulltll¢p.'Y,Anf/. 'provided by the ZoningTAdminlstratOr ant • Colorado, 'Where a diagram and map 4s upon approval o} the application by me .available for public inspection during - ZaNng Administrator a Leeslne Perms} shalV be Issued wnh or wl}hout condition as regular business hours. (d) The Town CoUnell Intends that the tlaterminetl by the. Zonlnp Administrator. ~ padestrlan mall areas would 6a for the - (3)7he ZOn€ng Administrator may request ' prlnClpal use of pedastrihm and hkyCla that an applicant eontluct a parking tralfie, and motor_venlcular Yraffic wome as utiliza}lon study ro determine the difference prohibited wire the following Bxtleptlonl: - behveen the average capacity of the lot antl (a) East Meadow Malt west tH ~ WHlow the peak day utllixation, and such other Bridge Road:. ''-~ - iMormatian as may ba necessary for the (11 Public Iran spo!tafioh veh1t lea Groper consideration Of the applkatlon. ~ope7atetl by the Town; (43 The applicant shall submit with the ~~ (7) Emergency vehicles; and ' application a proposed lease agreement to- -~` (3)- Repair of maintenance veh)cles be reviewed by the Zoning Aeminlsirafor. ~auihorized ~by the Tawn. (fl The proposed lease agreement shall be -"~~ (b] East Meadow Mall, east of lNEllow for the petiotl of not less than One month nor ~ Bridge Roetl l greater than ten 1103 momhs from: the `-~ (1) PVbllc iransportatleri vohlcles- effettlve date of this ord lnance. ~ ~ „ operated by the Town; (e) No applicant. snail be permlHed to ", IR) Emergency vehicles; lease more than twenty-five percent (45 S3) Repair or maintenance vehicles percent) of the parking spaces which are ine ,authorized by the Town; and difference between ilia average capaci4Y of - (d} Local traffic tb the Vaif AMlelic Club, ~ ,the lot and the peak day utlllzatlon as Mountain Haus and Wedel Inn, determined bY~ the Zoning Adminis¢etor. (U. Britlge Street, Gore Creek Drive and Q) NoaPPllcantwM Es operating a privatey ~ Hanson Ranch Road: parking area charging an hourly fee therefor (1) Public transpp[tation vehicles on the date of Thisordinance shell be ell0ible ;operated 6y the Town; "1- .; for approval of his application. (R1 Emergency vehicles; -- (W Parking required for any use in '" . (37 Repair .or maintenance vehicles accordance with this Title la may not be ~ auhorized by the Town; - satisfled by me leasing of space from (d)Commercial vehlUes entering the mall another person under the provl510ns of this, when necessary lac ilia purpose of meKing Section 1E.Std70(b). ~ deliveries or providing services Tor , (9). }t shall be the responslb)Iity of ine. - properties fronting on the mail to which owner, occupant or building manager who there Is no other reasonable means of ' lies leased spaces to others to provide .operator of ttrevehldewhertthere is no otFler adequate end proper signs iheretdr and to reasonable means of acces57 see shat the.leased Spaces era .used and (61 Private vehicles entering }he mall occupied In accordance with the 14ase when necessary for ilia purpose of going to agreement. ~ or from ilia property or business fronting on ., SECTION 7. All ortllnences, acts, Fhe mall of the operator of the vehicle when resolutlon9 or pens thereof of the Town of there is no other reasonable- means of .Vail and In conflict with iRls ortlinante are access; and hereby repealed. This repealer or the p) The tlirecTion of travel will be limited apedfit repealer above shall not be to one way in [attain portions, and parking :. construed to revive any ordinances, acts, on the streets oY public ways will be limited orders; resolutions or ~ •part4 thereof ~ to teAain areas and for speclfled times. heretofore repealed. During the public hearings, the Town SECTION 7. If any paragraph, clause or Council will entertain cum manta on the l ai c h rtl a pm e r C f ed)udged ~ I d or une Orceab e su h lutlgment shall not affect, Impair or PetlestYla allse antl the OUncil will consider all suggestions and comments as to invalidate the remainln9 paragraphs, exceptions TO the vehicle limitations In order clauses or provislon5 hereof, and ilia Town to provide reasonable alternative acgess to Louncll specltlcally states that its.intantlan ilia properties Ironting on ine malls pnd to ~ that various paragraphs, -clauses or , protect the publk Interest. provisions hereof are severable. (5) The money which will be used to pay - SECTION 4, The TOWn COdncil specifically damages, If any, allowed or awarded to any finds that this ortllnante is necessary for the property owner by reason of ~ the public health, safety and welfare. establishment of the pedesirlan mall wHl 9NTRODUCED, READ ON FIRST mme from the Town's General, Fund, antl 4 . ~~ Ross Dauis Realty 2230 Drat National Bank $uihliiig ;Denver, Colorado 80202 - ' (303) 292-3432_'` LODGE SOUTH CONDOMINIUM Three bedroom, three bath luxury un)t well , furnished..; $1.5Q000 December 9, 1977 made consistent with the covenant hereinafter provided concerning arbltraga bonds. Neither the Purchaser of said Bonds nor the holder of any of them Snell ba in any way responslhle for the application of the proceeds of said Bonds by the Town or any of Its off Icers. 7, If required, the Interest end prlnctpal to become due on Bald Bonds in 1978 shall be advanced from any revenues or lands of the Town lawfully available therefor. For the purpose of reimbursing any such advance and also for the purpose of paying the interest M and principal of said Bands as the Same become dVe and payable respectively, the Town Council of the Town of Vall shall annually Sx end certify a rate of levy for ad valorem Taxes to the Board of County Commiss[oners of Esgle County, Colorado, whicn taxes, in addltian h7 all other faxes, when levied on all of the taxable property In the Town, In ea[h of the Years 1978 to 1996, inclu slue, will raise etl valorem fax revenues suNlCient to make such reimbursement and to promptly meat end pay Such Bond principal and Interest payments as the same become due. Said taxes when collected shall be applied solely far the payment of the Interest on and prlnctpal of said Bands, respectively, until the Bonds, both as fo prlnclpel and Interest, shall befully geld, 5ati5fled and discharged, provided, however, that nothing herein contained Shell beso construed as i0 prevent the Town from commining and applying any other funds or revenues that may Haw or hereafter be in the treasury of the Town and legally available for The purpose of paying the Interest on or prlnctpal of said Bonds, and upon ine application of any other such fends Or reVenees 84 ePofa981tl. Ina IBVy Or levies for ad valorem taxes herein provided may thereupon be tllminishetl t0 the extent the regUlremenis IOr 9dch Bond printlpal and interest payments for the paritcular year are thereby tliminl5hed. 8. Notwlthstentling the foregoing provisions for ad valorem tax levies, the Town hereby further covenants and agrees that so long es the Bonds provltletl for herein remain outstanding and unpaid, it will levy, administer, enfor[e and Collett the Sales tax authorized by Ortllnance No. ii, 5erles of 1%3, t0 the exten! of an amount To be not less man4percent of gross receipts derived from the Sale of tangible persOnel property and the furnishing of services now or hereafter sub{act }o said sates tax, The Town of Vall has preVlously Issued Its General Obligation eontls as follows: Ifs General obllgatlon Bands, Series November I, 1971, authorized by Ordinance No. 19, Selves of 1%3, In the orl9lnal prlnclpel emaun} of 53,000,000; Ifs General ObIigaNon Bonds, Series March 1, 1974, authorized by Ortllnence No. 3, Series 01 1914, In the orlglnal prlnclpel amount of 55,500,000; Its General ObIlgaNOn Retuntling Bonds, 5erles 1974, defect November 15,197.1, aufhortzed by Ordinance No. 21, 5erles of 1474, irT the original prlnclpel amount of 52,540',000, which Reluntling Bands refunded the full outstendlnp amount of the Town's General Obllpatlpn Bonds, Series November 1,1973; Its general Obllpatlon Bonds, 5erles December i; 1975, autnorized by Ordinance No. 11, 5erles of 1%5, In the anginal prlnclpel amount W fe60,005r th General Obllgatitxl Banda, 5erles September 1, 1976, ~tBQritSd oY Ordinance No. 24. 5erles of payment of Ina debt service on any other or adtlltlonel general obl[gat[on bonds of the Town of Vall which may be issued hereafter from time to time, provided that such other or additional general obllgatlon bonds shall be on a paritywlth or subordinate to (but not prior or superior col the General Obligation Bonds, Series December 1,1%7, with respect to the sales tax revenues Herein pledged: and B. To the extent that the debt service on a II of the Town of Vall general obllgatlon bonds which may be Issued from time to time (incuding but Hat limited to the Bonds authorized Herein) end whicn are payable in whole Or in part from the subject pledged sales fax revenues, Is lolly provided 4or In soy fiscal year by tax revenues and oiner moneys legally available therefor, then the Town is authorzed to use any revenues remalning from the sublect pledged sales tax revenues for other purposes (but only after all of the debt service do sa[tl general obligation bonds payable from said pledged sales tax revenues has been fully provided for In Bald flxal Year), Including, but not Ilmited To, payment of spedal nomgeneral obllgatlon bonds, which spec[al non-general obllgatlon bands In any event, shah not be on. a parity with end shall be subordinate and inferior to the General Obligation Bonds,. Series December 1, }977, wffh respect to Me sales fax revenues herein pledged. So long es iha General obllgatlon Bonds, Series Decem bar 1, ]977, remain outsland(n9 and unpaid, the Town of Va II shall not repeal Its Ordinance No. 11, Series of 1%3, and Ina Town shall not amend said Ordinance in a manner which, taking into account other revenue of the Town which is legally dedicated and avsllable to pay the prlnclpel and Interest payments on said Bonds, would diminish fha revenue secuNty for rata Bonds, Nothing in this Ordinance shall be construed In Stith manner to prevent the Issuance by the Town of Vall of addltlonai bonds of any nature, provided that Said additional bonds are issued [n a manner consistent with the provlslons and limltattons stated herein with respect to the sales tax revenues herein pledged. 9, The sums hereinbefore provltletl to meet iho interest on said Bonds and to d(scharge the printlpal thereof, when due, are hereby approprl aced for that purpose, and said am0un15 ftlr each year shall be included In iho annual budget and the approprlatlon ordinance or measures to be adopted or passed by the Town council of the Town In each year respectively while any of the Bonds herein avthorlxetl, eltner as to printlpal or Interesh are outstanding and unpaid. No provlslons of any constltutlon, statute, charter, ordinance, resolution, or other order or measure enatled after the Essuance of the Bands Herein authorized shall In any manner be construed as limiting or Impairing the obllgatlon of the Town to levy etl valorem taxes, without limitation Of rate or amount, or as limiting oY Impalling iha obligetlon Of the Town to levy, adm(nlsler, enforu and collect the sales tax as provltletl herein for the payment of ine printlpal of and Interest on the Bonds herein authorized. It Shah be Ina duty of iha Town Counplk ~annwlly at,ihe Pima end In the manner provided by Saw for Ievyfnp otnnr Tawn ..r,. ~.., ,vui ucl on shall tie necessary to The Vail Trail 4 12. Pursuant to the Uniform Facsimile Colorado, furthen described as: ~spec[fled Inparagraph l2) etiove. ~~ Signature of Public Offiefels Ad, part t of Located wfthfn m0 NW%~ of Sedlon 9, ~ {NTR ODUCED, READ ON FIRST article 55 of t€tle 11, Colorado RevlSed Township 5 South, Range SO West of the 6m READING, APPROVED AND ORDERED Statutes l%3, prior to the sale of the Bonds p,M., aeeording to.the Survey of said PUBL15MED ONCE IN FVLLthis6lh day of authorized herein, there has bean or will be Townsmp and Range as approved by the L<_<,,..._r, }%7, and a WbBc hearing on this tiled with the Colorado Secretary of State a V.S. Surveyor General In Denver, Colorado .ordinance shall be held at the regular Facsimile Signature Certlfkme hearing the do April 12, 1892;'to wit: -meeting of the Town Council of the Town of manual signatures of John A. Dobson, the Beginning at the Northwest corner of said Vall, Colorado, on the 20th day of DeCa9nbeL Mayor of the Town of Vall, and Colleen Section 9, thence S 89 degrees 31'49^~ E 1917, at7;1o p.m, Inane Municipal Building Kline, the Town Clerk of rata Town, certified 2373.04 feel sloop the -North Ilse of Said '.of iha Town. ~', ~. - ' by them antler oath. Said filing is hereby . Section 9; to a point on the northerly right of ~, TOWN OF VAIL ratifletl, approved and confirmed for the ~ way fence line of Interstate Highway No. 70; - ~ ~ Rodney E. Slifer ~~ purposes of issu ln9 fha subleci General Thence atone iha northerly r7phY of way ~ ~ Mayor Obligation Bonds, Series December 1, 1%7, fenceline. of Inleretaie Highway No. 70 as. ATTEST: 13. The oNicers Of the Town- are hereby follows: [olieen Kline autharizetl and dlreMed to enter Into sucfi „ Sal degrees 41'33" W 415.82 ieeh thence 5 Town Clerk ~ ' agreements and take ail atllon necessary or'~ 7e degrees 13'02" W 1531.29 feet, to a point of - published In The Vall Trail on December 9, appropNete to eNeciuate the Arovislons of curvatu ro; thence 456.43 Icet on a curve to .-1%7 - this Ordinance and to comply with the the right with a radNs of 5580.00 feet, fha :. requirements of law, Including, without chord of which bears 5 80 degrees 33'18" W limiting The 9enerallTy of the foregoing: 456.30 feet M e point on the Westerly Ilne of a. The printing of ine Bonds herein said Section 9; - ~~^_'~~ Nonce _ authorized, including the printing upon each _ Thence departing the northerly right of D - of such Bonds of a copy of the approving way fenceline of Interstate Hlphway No. 70 - opinlon Of Messrs. peMuth and Eiberger, and following the Westerly Ilne of Bald band counsel, duly certlfled by the Town ~ Section9 N00 degrees 36'21^E565.11 fceT to_'~. ~- ORDINANCE N0.13 , Clerk; and the point of beginning. ~ - ~ Series of 1907 b. The execution of Such certlflcates as Said parcel of land contains 17.322 acres,. AN ORDINANCE MAKING A SUPPLE- , may be rea5ottably regVlled by the more or less. ~ ~ 'MENTAL APPROPRIATION FROM THE Purchaser of the Bonds relating to the (3) As provided in Section 18.08.070 of the RURAL TRANSPORTATION DEMON- ~. signing of the eonds,the tenure and identity 'Vail Municipal Cotle, the Zoning ~~"STRATTON PROGRAM FUND OF THE 1977 of the Town officials, the assessed valuation AdminisMator Is hereby directed to BUDGET AND FINANCIAL PLAN FOR and indebtedness of the Town, receipt of fhe~.. promptly motllty and amend iho OHICIaI Bond purchase price, and, if in accordance Zoning Map - to indicate the ,-rezoning ~ ~ ~ PleaseTUrn to FGge 4$ - with The facts, the absence of Itilgai(on, - ~ ~ - ' " pending or threatened, affecting the validity , ~ - ~ ' ' ' of Ina Bonds: and c. The making of various statements, retltals, certiticat ions and warranTles provided in the form of Bontl set forth in this `~ Ordinance; and - ~ x d. The preparation and execution of a bond ~ ~r _ offering brochure, pre8minary offlUal ~ ~~, s statement, official statement, or offering ., ,f~ _ ~' . - circulaY, if any sVtn is to be prepared, for t^;. the use of prospective purchasers of the bonds, Including, without limitation, the ~P ori9lnal purchaser, Kirchner, Moore and ' ;~ ~" ~. ;. Company, Denver, Colorado and ifs - :~,,,y associates, if any; and ~e. A statement concerning the accuracy and completeness of disclosure of ...- InfOrmation provided in any band offering ~.~ °"~ brochure, prenminary oNldal statemem, t1Y„v. official statement or offering circular for prospective buyers of the Bonds, "»„ ~~ 14, Tfiere 3s hereby approprlafed and set aside Irom any avsllable funds or revenues of the Town of Vail the amount or amounts necessary to pay all casts end expenses Incident to the issuance of said General obllgatlon Bonds, 5erles December 1, 1977, 1 ~°-e Including, but not being Ilmited to, any qS; ~ ': - publlcation, legal, end flxal agent coats and ~ ~~`"'~ ' expenses. 15. All ordinances, acts, orders, resolutions, or parts thereol, taken by !ha Town of Vail and In conflict with this ~ ~ _- Ortlinance are hereby repealed, except that mla repealer snail not be construed so as ro John Beck is Larry Douglas and Marie-France Pisier is Noelle in` revwe any ordinance, act, order, resolution, 20th Century FOX'S rOmatiC melodrama, "The Other Side Of or part thereof heretofore repealed. Midnight," which opens tonight, December 9th at The Minturn la.Tmsorarnaneefs,anasnaneonshrute' ~ Movie iheatre.;Susan Sarandon. Raf Vallone and Clu Gulager ' a leg[slative measure of the Town of Vall, ~ „ and afteY the Bonds Hereby euthorlxetl are ~,.. CO-Bier ' Issued, sold and are outstendlnp, this * - - Ordinance Snell constitute a contract ~ I~ ~ ....W.W~. between the Town and the holder nr nnln~r. i - 1 ea ld BonaS, and shell ne an^ ~ 'Y~ 1 'o-re~,,.,ianle unell .,la a.,ne~ „o ' - orlgmat •prx}etpai -anwum ..M •s6,g4SRa0, e.,"1° °1 "•' ' ~• aw'rwrel h.-17. The proper oNicers of iho TOwrt ofVell,"=~- wl~ich Refuntlln9 Bonds refunded the full specllletl, end to require Me~ONlcen of end rr?pidrado, are hereby authorized antl':~ outstarMln4 amount of the Town's General for the Town to IevY. extend and collect said ~ directed to pay or cause to be paid the Oblgatlon Bonds, Series March 1, 1971 and taxes In the manner provided by taw for me 'interest on the Bonds Heroin aufhorized as 5erles December 1, 1973; end lt6 General Purpose of providing }Vnds for the payment ,the same shall accrue, and me prlnclpel of OOIlpaflon Bdntlr, SerloS MOY 1. 1977 Ot ine printlpal pt the Bonds authorized '. Said Bonds at maturity, without further authorizetl by Ordinance Ng. 11, Seflee Of horeln and the Intorest accruing thereon ~, .Warrant ar order. ' 1977 fn ,Me OrI0lnal fNlnclpal amauRf of PL9m ptly as the same, YespettlVely, become d i S IB. If any paragraph clause OrpfovlSion Of fA50,000 (allot as ld Ixlor bonds 4elnp Mrein referred to es fha "Prior Bonds") The Town ue. a d taxes, when oollectetl, shell b0 kept "for and applied only to the payment of the , . this Ordinance Is futlklalfy atliudged Invand . has covenanted end agreed, in each of the Interest on and prlntipal of sold Bonds as br unenforceable, such ua ~ I gment shall not affect Impair r Invalidate iha remai in Ordinances toy Bald Prior Bonds, to pledge herelnbetore apadNed. , q n g Paraoraphs, clauses ar provisions Hereof and set asldo all the sales tax revenues 10. The Town covenants with iha holders of , . the intenilon being lost The various derived from one~half of the above stated 4 Ma eonas that It will make ~no use of the ' Paregrephs.clausesorprovisions heretoore percent of gross raeelpts eutnorizetl by Bald proceeds o}the eontls at any time during the severable. Ordinance No. 11, Sarles of 1913, to pay the lnferestan and the principal of the General term thereof Which, If Saab use had been reasonably expected On the date the Bonds' 19. A paella hearing on this proposed Obgganon Bonds and General ObllOation are Issued, would have Caused the Bonds to ''Ordinance shall be hold by the Town Council Refundlnq Bonds aufhorlxetl thereby. Seld ba.arbl}rage bonds within the moaning of 817;30 p.m. on Tuesday, December 20, 1977, Ordinances (or rho "Prior Bonds provide SeCtlon IO1fc7 ~01 the internal Revenue code at the Vall Municipal Bantling, vau, further that said pledged sales fax revenues of 1954, as amended, and the repulatlons Colorado, and ii is hereby ordered that may also, be pledged and used }or the proposed tnereuntler by the United States notice of Bald hearing be groan as required payment of the debt service on any other or Treasury Oepahmeni, unleu, under any by law. add Blonal general obllgatlon bonds of the prbvlslon of law hereafter enacted, the INTRODUCED, PASSED ON FIRST Town of Veil which may h0 Issued on a Interest geld on the Bonds fay shall be READING, APPROVED AND ORDERED parity with sold Prior Bonds. The Town of extNtlable from the gross Income of a PUBLISHED ONCE IN FULL THIS 6th day Vail covenants and agrees that ell the sales recipient mereof for federal Income tax of pecember, 1971, tax revenues derived trom one-hall of said A' `~purpOSes without regard to whether or not - TOWN OF VAIL percent of said grow receipts as aufhorized ~. such Bonds are erburage bonds, or (m snag Ixvaney E. surer m OPoInenCe No. il, Serlea of 1977, shall be ~ ' - be exemp}from all federal Income taxation. Mayor and Rereby are Irrevocably end Solely )t, Alledlon heretoforeteken by the Town ATTEST: pledged and set arias to pay the Enterer} on of Vell end by the nfflcers of the Town not Colleen Kline and the prlnctpal of the sublett General Inconsistent herewith directed toward the Town CIerK ObNgeryon Bonds, Sarles December 1, 1977, as the same become due and payable from authorization of bonds for the purpose of published Fn The Vail Trail on December 9, year to year, on a parity with the Town's obfipaf(on to pay Irom said Sales iex provitling funds to defray, In whole or in part, iha cost of provitling art ice sKating 1%7, ~ - - revenues the Interest on end iha prlnclpel of arena-multi-purpose facnlty, of acqulrfnp a site for a public works maintenance facility, ~ ' the Prior Bonds, provided that: end of acquirlnp real property to be used as ~^ D~~~'A NO'6iAA A, The sa ld pledged sales tax revenues open space and or recreation and park land, a M VV ^~ VV ~~ii may also be ptedgetl and used for the Is gereby retlfletl, approved and. confirmed. "'~ 'the Pilgrim Ranch . ' YVEST LAKE CREEK "_ - .:- South of Edwards. 17 miles west of Vail,- this. property is oneofthe most beautiful in the lakf3 Creek area. 280 acres, or less, excellent water.,.. rights and owner financing. Ranches to the Gypsum and Edwards Areas Also Available ~- Slifer`and Com~alny Rod Slifer ~ Dick Bailey David Sage •, Bob Kendall Rob Ford 4762421 P.O. Box 1248 - Vall, Colorado 81657 ORDINANCE N0.32 Series oil%y AN ORDINANCE REZONING A PARCEL :' OF PROPERTY LOCATED IN THE NWT/ OF SECTION 9, TSS, RBOW OP THE 6th P,M. AND COMMONLY KNOWN AS THE NORTH PULIS PROPERTV, FROM EAGLE COUNTY ZONE DISTRICT "RESOURCE" TO TOWN OF VAIL 20NE DISTRICT "PUBLIC USE", ~ - ' WHEREAS, the North Pulls Property Has recently been annexed fo the Town of Vall~ and was zoned by Eagle County as "Resource"; WHEREAS, 3n accordance wlin sectlan 18.66.110 of the Vail Municipal Code, a ' rezoning has been Inlilatetl by 1he7own to rezone the North Pulls property to '•PUbllt Use" WHEREAS, the Planning Commission of ^~ the Town of Vail Has considered the same and recommended approval of said rezoning fo the Town Councu; and " WHEREAS, the Town Council considers i that It Is in the public interest to rezone said i property; ' NOW, TNER EFORE, BE IT ORDAINED ~- BV THE TOWN COUNCIL OF THE TOWN OF VAIL, THAT: - ~ - - (Il The CoUnCil specifically flops that }he '.,procedures for the amendment of the Official Zoning 'Map and rezoning of ( properties witnln iha Town of Vall as prescribed !n Section ]8.66.110 of fha Vail Munlctpel Code have been fulfilled, and the Cauncll hereby receives the report and recommends Non' of the Planning eommisslon recommending me approval of the rezoning of the sublect property. I~1 Pursuant to Secf(on 18.66.160 of ine Vait ' MunlClpal Code, the following described,. pa reel Is rezoned from Eagle County - - "Resource" MTown Of Vail "PUbIIc Use": A Parcel of Land in Eagle County, ' ,_ fie Vail Trail's` i 1st Annual Photo ra h1yv// C®~t~ You are cordially invited to enter the FirstAnnual Vail Trail Amateur Photography Contest. No entry fee is required and you. may enter up #0 6 photographs per person. Minimum size photo accepted will be a 5x7 mounted on illustration board, or equivalent. Photos will be Judged on artistic merit, composition, print quality and the ability to reproduce well in the newspaper. Over $450.00 in prize money will be up for grabs in the total of 6 divisions, Sorry.., but the contest is open only to amateurs and Eagle County residents. COLOR - BLACK & WHITE 1. People and Still Life 1, People and Things 2. Sports 2, Sports 3. Nature and Wild Life 3. MEscellaneous and Photojournalism 550.00 First Prize in Each Category 525,00 Second Prize in Each Category Third Place -Honorable Mention . DEADLINE FOR ALL ENTRIES December 10, 1977 Judging and Show To Be Held Qn December 17, 1977