HomeMy WebLinkAbout1979-17 Authorizing the Execution and Delivery by the Town of a Note Purchase Agreement in Connection with the Issuance by the Town of Notes for the Purpose of Constructing Residential Housing Facilities for Low and Middle Income Families and Persons''' j ,~ • •
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TOWN OF VAIL, COLORADO
ORDINANCE NO. _;~
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AN ORDINANCE AUTHORI7ING THE EXECUTION AND
DELIVERY BY THE TOWN OF A NOTE PURCHASE
AGREEMENT IN CONNECTION WITH THE ISSUANCE
BY THE TOWN OF NOTES FOR THE PURPOSE OF
CONSTRUCTING RESIDENTIAL HOUSING FACILITIES
FOR LOW- AND MIDDLE-INCOME FAMILIES AND
PERSO2dS; RATIFYING ACTION PREVIOUSLY TAKEN;
AND DECLARING AN EMERGENCY.
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WHEREAS, the Town of Vail, Colorado (the "Town") is
authorized to issue its notes for the purpose of defraying the
cost of constructing residential housing facilities for low-
and middle-income families and Persons (the "Construction
Project"); and
WHEREAS, the To~,m desires to take necessary steps to
issue and sell its Town of Vail, Colorado, Residential Facili-
ties Notes (Secured by Pledge of Construction Loans) (the
"Construction Notes") for the Construction Project; and
WHEREAS, there has been presented to the Town Council
(the "Council") a proposed form of_ note purchase agreement re-
lating to the Construction Notes (the "Note Purchase Agreement")
between the Town and E. F. Hutton & Company, Inc.; and
WHEREAS, on April 25, 1979, there was introduced in
the United States House of Representatives a bill numbered
H.B. 3712, ~•~hich, if enacted into law in the form in which it was
introduced, would eliminate the exemption from federal income
taxation of interest on the Construction Notes.
NOW, THEREFORE, BE IT ORDAINED BY THE TOrrTN COUNCIL OF
THE TOWN OF VAIL, COLORADO:
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Section 1. All action (not inconsistent with the
provisions of this ordinance) heretofore taken by the Council
and the officers of the Town in connection with the Construc-
tion Project and the issuance and sale of the Construction Notes
is ratified, approved and confirmed.
Section 2. The terms and provisions of the Note Pur-
chase Agreement are approved, and the Town shall enter into the
Note Purchase Agreement in the form filed with the Town Clerk
prior to the enactment of this ordinance. The Mayor of the
Town is hereby authorized and directed to execute and deliver
such Note Purchase Agreement and the Town Clerk is hereby
authorized and directed to affix the Town seal and to attest
such Note Purchase Agreement. As so executed, such Note Pur-
chase Agreement shall constitute a written binding obligation
to sell the Construction Notes.
Section 3. If any section, paragraph, clause or
provision of this ordinance shall for any reason be held to be
invalid or unenforceable, the invalidity or unenforceability
of such section, paragraph, clause or provision shall not
affect any of the remaining provisions of this ordinance.
Section 4. All bylaws, orders, resolutions and
ordinances, or parts thereof, inconsistent herewith and with
the Bond Purchase Agreement, are hereby repealed to the extent
only of such inconsistency. This repealer shall not be con-
strued as reviving any bylaw, order, resolution or ordinance,
or part thereof.
Section 5. By reason of the introduction on April 25,
1979 in the United States House of Representatives of H.B. 3712,
the extreme shortage of and need for residential housing facili-
ties for low- and middle-income families and persons in the
Town, and the consequent need for early ratification of the
Note Purchase Agreement, the Council finds that this ordinance
is necessary for the immediate preservation of public property,
health, welfare, peace and safety. An emergency is therefore
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declared to exist, and this ordinance shall be in full force
and effect upon its final passage at this meeting. This
ordinance shall be published once within ten (10) days after
passage in a newspaper of general circulation in the Town.
INTRODUCED, FINALLY APPROVED AND ORDERED PUBLISHED
this first day of May, 1979.
,.
~~~C.
~" ll~Iayor ~
Town of Vail, Colorado
(SEAL)
Attest:
. //' ~~"
C~ /~~t- ~~Gf~/~{.~E~%G-C
Town Clerk'
Town of Vail, Colorado
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STATE OF COLORADO )
COUNTY OF EAGLE ) SS.
TOWN OF VAIL )
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The Town Council of the Town of Vail, Colorado met in a
duly called, open regular session pursuant to due notice and in full
conformity with law and the ordinances and rules of the Council, at
the Town Hall, in Vail, Colorado,•on Tuesday, July 31, 1979, at
2:00 p.m. There were present at said meeting the following, consti-
tuting a quorum:
Present:
Mayor:
Other Council Members:
Absent:
constituting all the members thereof.
There were also present:
Town Clerk: Colleen Kline
Town Attorney: Lawrence C. Rider
Council Member introduced the following
ordinance which was read by title and is as follows:
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ORDINANCE NO.
SERIES 1979
AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE BY THE TOWN
OF VAIL, COLORADO, OF ITS $12,885,000 SINGLE-FAMILY MORT-
GAGE REVENUE BONDS, SERIES 1979 (SECURED BY PLEDGE OF MORT-
GAGE NOTES), TO FINANCE RESIDENTIAL FACILITIES FOR LOW- AND
MIDDLE-INCOME FAMILIES OR PERSONS; RATIFYING CERTAIN ACTION
HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY
THE TOWN OF AN ORIGINATION AND SERVICE AGREEMENT, TRUST
INDENTURE, AMENDATORY BOND PURCHASE AGREEMENT, CLOSING DOC-
UMENTS, AND SUCH BONDS IN CONNECTION THEREWITH; MAKING
DETERMINATIONS AS TO "LOW- AND MIDDLE-INCOME FAMILIES AND
PERSONS," AS TO THE SUFFICIENCY OF REVENUES AND AS TO OTHER
MATTERS RELATED TO THE RESIDENTIAL FACILITIES; REPEALING
ACTION HERETOFORE TAKEN IN CONFLICT HEREWITH; AND DECLARING
AN EMERGENCY.
WHEREAS, the Town of Vail, Colorado (the "Town"), is a duly
created political subdivision of the State of Colorado (the "State")
organized and existing as a home rule municipality under the provi-
sions of the Constitution of the State and Charter of the Town; and
WHEREAS, the County and Municipality Development Revenue
Bond Act, Article 3 of Title 29, Colorado Revised Statutes 1973, as
amended (the "Act"), authorizes the Town to finance any land, build-
ings or other improvement and all real or personal properties,
whether or not in existence, which shall be suitable or used for or
in connection with any residential facilities for low- and middle-
incom e families or persons intended for use as the sole place of res-
idence by the owners (the "Project"); and
WHEREAS, the Town is authorized by the Act to enter into
financing agreements with others for the purpose of providing
revenues to pay the bonds authorized to be issued; and
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WHEREAS, the Town is further authorized by the Act to issue
revenue bonds for the purpose of defraying the cost of financing the
Project, including the payment of principal and interest on the pro-
posed revenue bonds for not exceeding three years, the funding of any
reserve funds which the governing body of the Town (the "Town
Council") may deem advisable to establish in connection with the
retirement of the proposed revenue bonds and all incidental expenses
incurred in issuing such bonds, and to secure payment of such bonds
as provided in the Act; and
WHEREAS, the Town Council has determined and does hereby
redetermine that the Town is experiencing a serious shortage of hous-
ing for low- and middle-income families and persons; and
WHEREAS, the Town does hereby find and determine that the
making of Mortgage Loans under the terms of the 0 & S Agreement (as
herein defined) will further the purposes of the Act and will benefit
low- and middle-income persons and faimilies; and
WHEREAS, the Town Council has determined that the public
health, welfare, safety, convenience, and prosperity of the Town and
its residents require the issuance by the Town of its Single-Family
Mortgage Revenue Bonds, Series 1979 (Secured by Pledge of Mortgage
Notes) in the aggregate principal amount of $12,885,000 ("the Bonds")
to finance the Project by making mortgage loans (the "Mortgage
Loans") therefor; and
WHEREAS, by a resolution duly adopted on July 11, 1978, and
an agreement duly executed pursuant thereto, and by a resolution
adopted on April 17, 1979, the town took official action toward the
issuance of the Bonds; and
WHEREAS, pursuant to Ordinance No. 16, Series 1979, duly
adopted on May 1, 1979, the Town entered into a bond purchase agree-
ment, dated May 1, 1979 (the "Bond Purchase Agreement") with
E. F. Hutton & Company, Inc. (the "Underwriter") for the purchase of
the Bonds; and
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WHEREAS, Qrdinance No. 16, Series 1979, was duly published
on May 4, 1979, which publication gave public notice of the issuance
of the Bonds; and
WHEREAS, concurrently with the issuance of the Bonds, First
Denver Mortgage Company, a Colorado corporation, with its principal
office in Denver, Colorado ("FDMC"), will enter into an origination
and service agreement with the Town (the "0 & S Agreement") providing
for the origination and servicing of the Mortgage Loans by FDMC on
behalf of the Town; and
WHEREAS, there have been presented to the Town Council
(1) the proposed form of an agreement amending and supplementing the
Bond Purchase Agreement, (2) the proposed form of the 0 & S
Agreement, and (3) the proposed form of Trust Indenture (the
"Indenture") between the Town and The First National Bank of Denver
as Trustee (the "Trustee").
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO:
Section 1. All action (not inconsistent with the provi-
sions of this ordinance) heretofore taken by the Town Council and the
officers of the Town directed toward financing the Project and the
issuance and sale of the Bonds therefor be, and the same is hereby
ratified, approved, and confirmed.
Section 2. The Town shall finance the Project by issuing
the Bonds to make the Mortgage Loans, to fund certain reserve funds
in connection with the retirement of the Bonds and to pay incidental
issuance expenses. The proceeds of the Bonds shall be deposited with
the Trustee for disbursement in accordance with the provisions and
conditions of the Indenture and the 0 & S Agreement.
Section 3. An issue of revenue bonds is hereby authorized
and created to finance the Project as aforesaid, designated as "Town
of Vail, Colorado, Single-Family Mortgage Revenue Bonds, Series 1979
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(Secured by Pledge, of Mortgage Notes)," in the aggregate principal
amount of $12,885,000, issuable as coupon bonds registrable as to
principal only in the denomination of $5,000, and as fully registered
bonds in the denominations of $5,000 and any integral multiple there-
of, dated as of August 1, 1979 (except as provided in the Indenture
with respect to fully registered Bonds), and which shall bear inter-
est from such date payable on August 1, 1980, and semiannually there-
after on August 1 and February 1 of each year, at the rates per annum
set forth below, and maturing on August 1 in the designated years and
in the principal amounts as follows:
Interest Rates
Amounts Maturing (Per Annum) Year Maturing
115,000 6.0 1982
125,000 6.1 1983
135,000 6.2 1984
145,000 6.3 1985
155,000 6.4 1986
165,000 6.5 1987
175,000 6.55 1988
190,000 6.6 1989
205,000 6.7 1990
220,000 6.8 1991
235,000 6.9 1992
250,000 7.0 1993
270,000 7.1 1994
295,000 7.2 1995
315,000 7.3 1996
340,000 7.35 1997
370,000 7.4 1998
400,000 7.4 1999
8,780,000 7.625 2010
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The Bonds shall be payable, shall be subject to redemption
prior to maturity, and shall be in substantially the forms as pro-
vided in the Indenture. Pursuant to the Bond Purchase Agreement, as
amended, the Bonds shall be sold to the Underwriter at a private sale
at a purchase price equal to 97.3 of the principal amount of the
Bonds plus accrued interest from August 1, 1979, to the date of their
payment and delivery. The net effective interest rate on the Bonds
is 7.526$, which rate is hereby determined to be the maximum net
effective interest rate on the Bonds.
Section 4. Pursuant to Section 29-3-103(10)(d) of the Act,
the Town Council of the Town hereby finds and determines that "low-
and middle-income persons and families" within the Town are persons
and families with a Maximum Household Income of not to exceed
$32,000, and that such persons and families lack the financial abil-
ity to pay prices or rentals sufficient to induce private enterprise
in the Town to build a sufficient supply of adequate, safe, and sani-
tary dwellings without the special assistance afforded by the Act.
The Maximum Purchase Price of a Single-Family Residence shall be
$99,000, and in no event may such purchase price exceed $90 per
square foot of occupied space; and after the Mortgage Loan Account,
as defined in the Indenture, shall have been fully loaned out at
least one-half of the total number of the Mortgage Loans originated
will have been made to persons and families with Maximum Household
Incomes not to exceed $25,000. Both the Maximum Household Income and
the Maximum Purchase Price shall be adjusted annually in accordance
with the increase or decrease in the Consumer Price Index, using the
adjustment defined in the 0 & S Agreement.
Section 5. The following determinations and findings are
hereby made in accordance with Sections 29-3-113, 29-3-114, and
29-3-120 of the Act:
(a) The amount necessary in each year to pay the
principal of and the interest on the Bonds is as follows,
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including those Bonds called for mandatory sinking fund
redemption in the years 2000 through 2009, inclusive:
Annual Period
to and Interest Principal to be Annual Debt
Including fir such Retired in such Service
August 1 Period Period Requirement
1980 940,688 0 940,688
1981 953,938 0 953,938
1982 953,938 115,000 1,068,938
1983 947,038 125,000 1,072,038
1984 939,412 135,000 1,074,412
1985 931,042 145,000 1,076,042
1986 921,908 155,000 1,076,908
1987 911,988 165,000 1,076,988
1988 901,262 175,000 1,076,262
1989 889,800 190,000 .1,079,800
1990 877,260 205,000 1,082,260
1991 863,524 220,000 1,083,524
1992 848,564 235,000 1,083,564
1993 832,350 250,000 1,082,350
1994 814,850 270,000 1,084,850
1995 795,680 295,000 1,090,680
1996 774,440 315,000 1,089,440
1997 751,444 340,000 1,091,444
1998 726,454 370,000 1,096,454
1999 699,074 400,000 1,099,074
2000 669,474 430,000 1,099,474
2001 636,688 465,000 1,101,688
2002 601,232 505,000 1,106,232
2003 562,724 550,000 1,112,724
2004 520,788 595,000 1,115,788
2005 475,418 645,000 1,120,418
2006 426,238 700,000 1,126,238
2007 372,862 760,000 1,132,862
2008 314,912 820,000 1,134,912
2009 252,388 890,000 1,142,388
2010 184,524 2,420,000 2,604,524
(b) The Town Council has deemed it advisable to
establish for contingent use in connection with the retire-
ment of the Bonds, among other purposes, the trust funds
created and established by the Indenture designated as the
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Mortgage Reserve Fund, Capital Reserve Fund, and
Accumulation Reserve Account. Moneys on deposit in such
funds and account shall be used to provide a reserve for
the payment of ,the principal of, premium if any, and inter-
est on the Bonds. Amounts shall be paid into such reserve
funds each year as provided in, and in accordance with, the
Indenture.
(c) The terms of the 0 & S Agreement under which the
Mortgage Loans are to be made provide that FDMC shall cause
the properties which are the subject of the Mortgage Loans
to be maintained in good repair and carry all proper insur-
ance with respect thereto in the event that the owners or
occupants of such properties do not do so.
(d) Except as they are to be initially funded with
the proceeds of the Bonds, the revenues payable under the
0 & S Agreement are sufficient to pay, in addition to all
other requirements of the 0 & S Agreement and this ordi-
nance, all sums referred to in paragraphs (a), (b), and (c)
of this Section.
(e) The O & S Agreement requires the owners or occu-
pants of the properties which are the subject of the
Mortgage Loans to pay the taxes which all taxing entities
are entitled to receive from such persons with respect to
such properties.
(f ) The 0 & S Agreement provides that Mortgage Loans
shall only be made to purchasers of "Single-Family
Residences" which are part of an "Approved Project," desig-
nated by the Town of Vail pursuant to standards established
by the Town in Resolution No. Series 1979, dated
July 31, 1979, as amended from time to time.
Section 6. The forms, terms, and provisions of the 0 & S
Agreement, the Indenture, and the agreement amending and
supplementing the Bond Purchase Agreement be and they hereby are
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approved and the Mayor is hereby authorized and directed to execute
and deliver, and the Town Clerk to affix the Town seal to and to
attest, such documents in substantially the forms heretofore filed
with the Town Clerk, with such omissions, insertions, endorsements,
and variations as to any recitals of fact or other provisions as may
be required by the circumstances, be required or permitted by this
ordinance or the Act, or be consistent with this ordinance and the
Act, and as may be necessary or appropriate to conform to the rules
and requirements of any governmental authority or any usage or
requirement of law with respect thereto.
Section 7. The forms, terms, and provisions of the Bonds,
as set forth in the Indenture, be and they hereby are approved; and
the Mayor is hereby authorized and directed to execute the Bonds
(including any temporary bonds issued pursuant hereto) and the cou-
pons appertaining to coupon Bonds and the Town Clerk is hereby autho-
rized and directed to attest the Bonds and each is authorized to
deliver the Bonds. The seal of the Town is hereby authorized and
directed to be affixed to the Bonds. The signatures of the Town
Clerk on the Bonds shall be manual, but the signature of the Mayor
and the seal of the Town upon the coupons and the Bonds may be by
facsimile.
Section 8. The Mayor is hereby authorized and directed to
execute and deliver to the Trustee the request and authorization of
the Town for the authentication and delivery of the Bonds by the
Trustee, in accordance with Section 2.07 of the Indenture.
Section 9. The First National Bank of Denver is hereby
appointed as Trustee, paying agent, and bond registrar under the
Indenture.
Section 10. The officers of the Town shall take all action
in conformity with the Act necessary or reasonably required by the
Underwriter to effectuate the provisions of the Bond Purchase
Agreement, as amended, and shall take all action necessary or
desirable in conformity with the Act to carry out, give effect to,
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and consummate the transactions contemplated by this ordinance, the
0 & S Agreement, the Indenture, and the Bond Purchase Agreement, as
amended, including, without limitation, the execution and delivery of
any necessary closing documents (including a certification with
respect to the Official Statement) in connection with the sale and
delivery of the Bonds.
Section 11. The cost of financing the Project shall be
paid out of the proceeds of the Bonds, and none of the Bonds shall be
the. general obligations of the Town, nor shall any of the Bonds,
including interest thereon, constitute the debt or indebtedness of
the Town within the meaning of any provision or limitation of the
Constitution or statutes of the State of Colorado or of the charter
of the Town. Nothing contained in this ordinance or in the Bonds,
0 & S Agreement, Indenture, Bond. Purchase Agreement, as amended, or
any other instrument shall constitute or give rise to a pecuniary
liability or a charge upon the general credit or taxing powers of the
Town. The breach of any agreement contained in this ordinance or any
of the above-mentioned instruments shall not impose any pecuniary
liability upon the Town or any charge upon its general credit or
against its taxing powers, the Town having no power to pay out of its
general fund or otherwise contribute any part of the costs of financ-
ing the Project and no power to operate the properties which comprise
the Project as a business or in any manner. The Town shall not con-
demn any land or other property for the properties comprising the
Project or contribute any land or other property to the properties
comprising the Project.
Section 12. After any of the Bonds are issued, this ordi-
nance shall be and remain irrepealable until the Bonds and the inter-
est thereon shall have been fully paid, canceled, and discharged.
Section 13. If any section, paragraph, clause, or provi-
sion of this ordinance shall for any reason be held to be invalid or
unenforceable, the invalidity or unenforceability of such section,
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paragraph, clause, or provision shall not affect any of the remaining
provisions of this ordinance.
Section 14. All bylaws, orders, resolutions, and ordi-
nances, or parts thereof, inconsistent herewith and with the docu-
m ents hereby approved, are hereby repealed to the extent only of such
inconsistency. This repealer shall not be construed as reviving any
bylaw, order, resolution, or ordinance, or part thereof.
Section 15. By reason of the introduction on April 25,
1979, in the United States House of~ Representatives of H. R. 3712,
the extreme market uncertainties created thereby, the consequent risk
that the Bonds cannot be later issued and sold to achieve the desired
results, and the urgent shortage of and need for residential housing
facilities for low- and middle-income families and persons in the
Town, the Town Council finds that this ordinance is necessary for the
immediate preservation of public property and the public health, wel-
fare, peace and safety. An emergency is declared to exist, and this
ordinance shall be in full force and effect upon its final passage at
this meeting. This ordinance shall be published once within ten days
after passage in a newspaper of general circulation in the Town.
INTRODUCED, READ BY TITLE, FINALLY ADOPTED, AND ORDERED
PUBLISHED THIS 31ST DAY OF JULY 1979.
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/ MAYCSR
[SEAL]
ATTEST:
~J / ,
TOWN CLERK
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Whereupon~it was moved by Council Member and
seconded by Council Member that all rules of the Town
Council which might prevent, unless suspended, the final passage and
adoption of said ordinance at this meeting be, and the same hereby
are, suspended for the purpose of permitting the final passage and
adoption of said ordinance at this meeting. The motion was put to a
vote, the vote being as follows:
Those Voting Yes:
Those Voting No:
Those Absent:
A motion to adopt the foregoing ordinance was then duly
made by Council Member and duly seconded by Council
Member , was put to a vote, the vote being as follows:
Those Voting Yes:
Those Voting No:
Those Absent:
Thereupon the Mayor declared said motion carried and said
ordinance d m y passed and adopted, according to the procedures
required for the passage of an emergency ordinance.
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After action on business not related to the foregoing
resolution, on motion duly made, seconded and adopted, the meeting
thereupon adjourned.
~~
l~ ~,
Mayor U
(SEAL)
ATTEST:
/~
~ -~~~~'
`-'Town Clerk
P~ ~~ ~
PUBLISHED in ,~~/,~ //~~G~ on the-..~ aay of
6~
1979.
Mario r~
[SEAL)
Attest:
Town Cler
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STATE OF COLORADO ~)
,)
COUNTY OF EAGLE ) SS.
TOWN OF VAIL )
I, Colleen Kline, the duly qualified and acting Town Clerk
of the Town of Vai1,.Colorado, do hereby certify:
1. The foregoing pages numbered 1 to 12, inclusive, are a
true, perfect and complete copy of the record of proceedings of the
Town Council of the Town of Vail had and taken at a lawful regular
meeting of the Council held at the Town Hall in Vail, Colorado, on
Tuesday, July 31, 1979, commencing at the hour of 2:00 p.m., as
recorded in the regular official book of the proceedings of the Town
kept in my office. Said proceedings were duly had and taken as
therein shown, the meeting therein sizown was duly held, and the per-
sons therein named were present at said meeting as therein shown.
2. All members of the Town Council were duly notified of
said meeting, pursuant to law.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the seal of the Town this %,~'{ day of +'fv~L''~'',;~r 1979.
(SEAL)
,..~
~~~ ~ wi
Town Clerk
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ORDINANCE NO. 17-~
Series of 1979
AN ORDINANCE AMENDING THE VAIL
MUNICIPAL CODE BY THE ADDITION
OF SECTION 8.16.125 ENTITLED
"HAULING OF REFUSE", REQUIRING ALL
VEHICLES HAULING REFUSE, RUBBLE,
RUBBISH, OR GARBAGE, TO COVER THE
SAME TO INSURE THAT THE MATERIAL
HAULED I5 NOT SPILLED, DEPOSITED,
OR LEFT ON THE PUBLIC WAY; PROVIDING
THAT SAID REGULATIONS SHALL APPLY
TO ALL VEHICLES INCLUDING THOSE
USED FOR THE BUSINESS OF REFUSE HAULING;
AND, SETTING FOR DETAILS RELATING
THERETO.
WHEREAS, the hauling of trash within the Town of Vail
has resulted in the spilling, depositing, and leaving of refuse,
rubbish, rubble, and garbage on the public ways; and,
WHEREAS, it is the opinion of the Town Council that it
would be in the public interest to require that the people hauling
refuse, rubbish, rubble, or garbage shall secure the same so it may
not be spilled or deposited on the public way.
NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, COLORADO, THAT:
Section 1. The Vail Municipal Code is amended by the
addition of Section 18.16.125 entitled "Hauling of Refuse" to read
as follows:
Section 8.16.125 Haulinq of Refuse
(a) All vehicles operated by
persons, companies, or other
entities in the business of
hauling refuse, rubble, rubbish,
or garbage shall provide a tightly
enclosed body to prevent the refuse,
rubbish, rubble, or garbage from
spilling out of the vehicle. Every
such vehicle must also have a durable,
secure canvas or similar covering,
large enough to cover all of the
materials hauled, and said covering
shall be tied down on other- ,
wise securely fastened in place at
all times that such vehicle is driven
or operated on the public streets and
ways within the Town of Vail.
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- Ord. 17 Page 2
(b) All vehicles whether privately
owned, or regularly used for the
business of hauling refuse, rubble,
rubbish, or garbage, while being
used for the hauling of such materials
shall haul or carry the rubbish, rubble,
refuse or garbage in an enclosed part
of the vehicle which is covered by a
durable and secure covering large
enough to cover all said material
to prevent the same from spilling
on the public street or way. Said
covering shall be tied down or other-
wise securely fastened in place while
said vehicle is being used on the public
streets or ways within the Town of Vail.
(c) It shall be unlawful for any person to
own, operate, or control a vehicle that
is being operated on the public streets
or ways of the Town of Vail in violation
of this section.
Section 2. If any part, section, subsection, sentence,
clause or phrase of this ordinance is for any reason held to be
invalid, such decision shall not affect the validity of the remaining
portions of this ordinance; and the Town Council hereby declares
it would have passed this ordinance, and each part, section, sub-
section, sentence clause or phrase thereof, regardless of the fact
that any one or more parts, sections, subsections, sentences, clauses,
~~ or phrases be declared invalid.
Section 3. The Town Council hereby finds, determines
and declares that this ordinance is necessary and proper for the
health, safety and welfare of the Town of Vail and the inhabitants
thereof .
INTRODUCED, READ ON FIRST READING, APPROVED, AND ORDERED
PUBLISHED ONCE IN FULL this ~.5 day of /~~ 1/ , 1979, and a
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public hearing on this ordinance shall be held at the regular meeting
of theT Town Council of the Town of Vail, Colorado, on the ~ day
of ~i,11~ ~ 1979, at 7:30 P.M., in the Municipal Building
of the Town.
G
ayor / ~
ATTEST: ~
,n
i~ , f ~-~~
Town C`~erk ~ '
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PAGE
ORD. # _ f _~ __ --
INTRODUCED OW St~COND READING, READ, APB ROVf.D AVID ORDERED PPU81_I ~ffED BY
TIT1_E ONLY THIS - ~ _ DAY OF _ 2?L-~ _ __> 19. !__
ATTEST:
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TOIJPd ERK ~~f