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HomeMy WebLinkAbout1980- 4 Relating to the Issuance of Its Land Transfer Tax Anticipation Warrants• • • > > ORDINANCE Nl1MDER 4, SERIES 19$0 This ordinance has three complete copies attached. The first copy in order, is the copy used for first reading. The second copy is a reference copy, with strikeouts showing the changes made prior to second reading. The third copy is the one used for second and final reading. all corrections have been made on this clean copy. ~ ~ ~~ ~ ~~ ~: ~ `+ + ~ /~~ l~Q~`i' r `rC'~ / ~l ` /L C-- Cj r~ ~Lf~a ~~ C l CERTIFIED RECORD OF PROCEEDINGS OF THE TOWN COUNCIL OF THE TOLv-N OF VATL, COLORADO RELATING TO THE ISSUANCE OF ITS LAND TRANSFER TAX ANTICIPATION WARRANTS SERIES I980A DATED FEBRUARY 1, 1980, IN THE PRINCIPAL AMOUNT OF $5,350,000 r e . F1 f, ` ~ TABLEF CONTENTS (Not a part of the Ordinance} PAGE SECTION 1. DEFINITIONS AND CONSTRUCTION. 3 A. Definitions . . . 3 B. Construction 12 SECTION 2. RECITALS ; AUTHORITY . I2 A. Necessity. 12 B. Land Transfer Tax. 12 C. Authority For Warrants . 12 D. Pledged Sales Tax Revenues . 12 SECTION 3. THE WARRANTS. 13 A. Authorization . 13 B. Warrant Details. , . . 13 C. Warrants Equally Secured , 26 D. Special Obligations. . 26 SECTION 9 . SALE OF ~dARRANTS . 26 A. Necessity of Project and Issuance of Warrants. 26 B. Warrant Purchase Agreement; Award of Sale. 26 C. Preliminary Official Statement; Official Statement 27 SECTION 5. FUNDS CREATED BY ORDINANCE. 27 A. Disposition of Warrant Proceeds and Other Revenues; Security For Warrants . 27 B. Acquisition Fund . 28 C. Principal and Interest Fund. . 29 D. Reserve Fund . 30 E. Termination of Deposits; Use of Money in Principal and Interest Fund and Reserve Fund 31 F. Land Maintenance and Planning Fund 32 G. Payment of Additional Subordinate Securities 32 H. Use of Remaining Revenues. . 33 I. Budget and Appropriation of Funds, 33 SECTION 6. GENERAL ADMINISTRATION OF FUNDS 34 A. Places and Times of Deposits 34 B. Investment of Funds. 34 C, No Liability For Lasses Incurred In Performing Terms of Ordinance . 35 D. Character of Funds 35 E. Accelerated Payments Optional. . 36 SECTION 7. PRIORITIES; LIENS; ISSUANCE OF ADDITIONAL DONDS AND ADDITIONAL WARRANTS 36 A. First Lien on Pledged Land Transfer Tax Revenues; Second Lien on Pledged Sales Tax Revenues. 36 B. Issuance of Parity Warrants. 37 C. Issuance of Superior Bonds 38 D. Reduction of Annual Requirements 40 E. Certification of Revenues. 40 F, Subordinate Securities Permitted 40 G. Superior Securities Prohibited, With Exception 40 H. Refunding Warrants ar Bonds. 41 Z. Payment Dates of Additional Warrants 43 J. Supplemental Ordinances. . 43 SECTION 8. COVENANTS 44 A. Amendment of Ordinance No. 26 and Ordinance No. 11; Continuance and Collection of Taxes. 44 B. Defense of Legality of Pledged Revenues; Application of Proceeds of Project; Use of Proceeds of Land Transfer Tax 45 C. Application of Net Project Revenues. 46 D. Performance of Duties. . 46 E. Casts of Warrant Issue and of Performance. 47 F. Contractual Obligations. . 47 (i} . r \ r , (/'` G. Further Assurances 47 H. Conditions Precedent 48 I. Efficient Operation and Maintenance. 48 J. Records. . 48 K. Rules, Regulations and Other Details . 48 L. Payment of Governmental Charges. . 49 M. Protection of Security 49 N. Accumulation of Interest Claims. 49 0. Prompt .Payment of Warrants . 5D P. Use of Principal and Interest and Reserve Funds. 50 Q. Additional Securities . 50 R. Other Liens. 5D S. Disposal of Project Prohibited 50 T. Surety Bonds 51 U. Arbitrage Covenant . S1 SECTION 9. DEFEASANCE. 51 SECTION 10. DEFAULT PROVISIONS AND REMEDIES OF WARRANTHOLDERS. 52 A. Events of Default. 52 B. Remedies for Defaults. 53 C. Rights and Privileges Cumulative . . . 53 D, Duties Upon Defaults 54 E, Evidence of Securityholders. 55 F. Warranty Upon Issuance of Warrants 56 G. Immunities of Purchaser . . 56 SECTION 11. AMENDMENT OF ORDINANCE 57 A. Privilege of Amendments. 57 B. Time for Amendment . 58 C. Unanimous Consent. 59 D. Exclusion of Town's Warrants 59 E. Notation on Warrants . 59 F. Proof of Instruments and Warrants. . 60 SECTION 12. MISCELLANEOUS. 60 A. Character of Agreement 60 B. Na Pledge of Property. 60 C. Statute of Limitations 6D D. Delegated Duties . 61 E. Successors . . 62 F. Rights and Immunities. 62 G. Ratification 63 H. Facsimile Signatures , 63 I. Ordinance Irrepealable 63 J. Repealer 64 K. Severability , 64 L. Public Hearing . 64 (ii) f ~ STATE OE' COLORADO ) } CDUNTY OF EAGLE ) ss. TDWN Off' VAIL ) The Town Council of the Town of Vail, Colorado, met in regular session at the Vail Municipal Euilding, Vail, Colorado, the regular meeting place thereof, on Tuesday, the 8th day of January, 1980, at the hour of 7:30 p.m. The following members of the Town Council, constituting a quorum thereof, were present: Mayor: Rodney E. Slifer Council Members: Paula Palmateer John Donovan Thomas Steinberg Bill wilto Scott Hopman Ron Todd The following members of the Town Council were absent: `'~ The following persons were also present: Town Manager: Richard Caplan Town Director of Finance: William Pyka Town Attorney: Lawrence C. Rider Town Clerk: Colleen Kline Thereupon the following proceedings, among others, were had and taken: Council Member ~ introduced and moved the approval on first reading of the following Ordinance, which was read by title, sufficient copies having previously been made available to the Council and to the public: -- 2 ~- ,• ORDINANCE N0. 4 SERIES OF 19$0 AN ORDINANCE RELATING TO THE ISSUANCE OF TOWN OF VAxL, COLORADO, LAND TRANSFER TAX ANTICIPATION WARRANTS, SERIES 1980A, DATED FEBRUARY I, 19$0, IN THE PRINCIPAL AMOUNT OF $5,350,000, FOR THE PURPOSE OF ACQUIRING REAL PROPERTY TO BE USED FOR OPEN SPACE, RECREATIONAL OR PARK PURPOSES. BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. Definitions and Construction. A. Definitions. In this Ordinance the following terms have the following respective meanings unless the context hereof clearly requires otherwise: {1) Acquisition Fund: that special fund created by Section 5B hereof . (2) Additional Parity General Obligation Bonds: any general obligation bonds of the Tawn payable in whole or in part from Pledged Sales Tax Revenues, issued after the date hereof, in accordance with the provisions of this Ordinance, Prior Ordinances, the Charter and the Constitution and laws of the State, having a lien on the Pledged Sales Tax Revenues equal to or an a parity with the lien thereon of the Prior General Obligation Bonds and superior or senior to the lien thereon of the Warrants. {3) Additional Parity Warrants: any warrants of the Town issued after the date hereof, pursuant to and i.n accordance with Section 7B hereof. (4) Average Annual Debt Service: for the Warrants, or the Superior General Obligation Bonds, or a given issue of Parity Securities, the aggregate of all Debt Service Requirements (excluding any redemption premiums) due on the Warrants, or the Superior General Obligation Bands or any other given issue of Farity Securities in question for a1I Bond Years beginning with the Bond Year in which both principal of and interest on the Warrants, or the Superior General Obligation Bonds or the Parity Securities are first payable and ending with the Bond Year in which the last of the Debt Service Requirements (excluding any -3- reaemption premiums) due on the Warrants, Obligation Bonds or the other given issue question are payable, divided by the numb (5) Sond Year: for the purpose of or the Superior General of Parity Securities in er of such years. this Ordinance, the twelve (12) months commencing on the first day of December of any calendar year and ending on the thirtieth day of November of the next succeeding calendar year , (6) Capital Improvements and Open Space Fund: the special fund created by Resolution No. of the Town adopted by the Town-. Council on January 8, 1980, in-to which the Pledged Sales Tax Revenues are to be deposited. (7) Charter: the Dome Rule Charter of the Town, approved by the electors of the Town an September 12, 1972, and filed in the office of the Colorado Secretary of State oh September 15, 1972. (8) Commercial Sank: a state or national bank or trust company which is a member of the Federal Deposit Insurance Corporation and of the Federal Reserve System, which has a capital and surplus of $1,000,000 or more, and which is located within the EJnited States; and such term includes, without limitation, any Trust Hank, as herein defined. (9} Comparable Bond Year: in connection with any Fiscal Year, the Bond Year which ends in such Fiscal Year, For example, for the Fiscal Year commencing on January 1, 1981, the Comparable Bond Year for the Warrants commences on December 1, 1980, and ends on November 30, 1981. {l0) Cost of the Project: all or any part of the cost of the real property to be acquired with the proceeds of the Warrants, including, without limitation, all costs and estimated costs of the issuance of the Warrants; all surveying, inspection, fiscal, and legal expenses; any discount on the sale of the Warrants; casts of financial, professional, and other estimates and advice; contingencies; any administrative, operating, and other expenses of the Town prior to and during the acquisition period for the Project, as may be determined by the Town Council; and all such other expenses as may be necessary or incident to the -4- ~T f financing and acquisition of the Project, or part thereof, and the placing of the same in public use; provision far reserves for replacement expenses or far payment or security of principal of or interest on the Warrants during or after the acquisition period as the Town Council may determine. (11) Coupons or coupons: those obligations evidencing interest an and pertaining to the Warrants and any other securities payable from the Pledged Revenues, or such part of such securities as may be designated. (12) Debt Service Requirements: the principal of, interest on, and any premiums due in connection with the redemption of the Warrants, the Superior General Obligation Bonds, the Additional Parity Warrants and any other securities payable from the Pledged Revenues and heretofore ar hereafter issued, if any, or such part of such securities as may be designated, as such principal, interest and premiums became due, whether due as a sinking fund installment as set forth in Section 3B hereof or otherwise. (l3) Event of Default: each of the events stated in Section 10 hereof . (l4) Exempt Transfers: transfers to which the Land Transfer Tax does not apply as provided in Section 5 of Ordinance Nn. 25. (l5} Federal Securities: bills, certificates of indebtedness, notes, bonds or similar securities which are direct obligations of, or the principal and interest of which obligations are unconditionally guaranteed by, the United States of America. (l6} Fiscal Year: the twelve (12) months commencing on the first day of January of any calendar year and ending on the thirty-first day of December of such calendar year or such other twelve (12} month period as may from time to time be designated by the Town Council as the Fiscal Year of the Town. (17) Gross Project Revenues: (a) all income, if any, from rates, fees, tolls, rentals and charges or any combination thereof far the services or privileges furnished by, with or from the use of the Project; and (b) all income or other gain, if any, from any investment of Gross Proj ect Revenues . --5- (IB) Holder: when used in conjunction with any coupons, any Warrants, or any other designated securities, the Person in possession and the apparent owner of the designated item. (19) Independent Accountant: any certified public accountant, or any firm of such accountants, duly licensed to practice and practicing as such under the laws of the State, appointed and paid by the Town, who (a} is, in fact, independent and not under the domination of the Town or the Town Council, (b') does not have any substantial interest, direct or indirect, in any.- of the affairs of the Town, and (c} is not connected with the Town as a member, officer or employee of the Town Council, but who may be regularly retained to make annual or similar audits of any books or records of the Town. (20) Land Maintenance and Planning Fund; the special fund created by Section 5F hereof. (21) Land Transfer Ta.x: the land transfer tax established by Ordinance No. 26 upon the Transfer of interests in Real Property in the Town, in such percentage as set forth in Ordinance Na. 26 or any supplement or amendment thereof. (22} Land Transfer Tax Fund: the special fund created by Section 9 of Ordinance No. 26 into which the proceeds of the Land Transfer Tax are to be deposited. (23} Mayor: the de jure or de facto Mayor of the Town or " his or her successor in functions, if any. (24) Net Project Revenues: all Gross Project Revenues remaining after the deduction of Operation and Maintenance Expenses . (25) Operation and Maintenance Expenses: in the event that the Town has any Gross Project Revenues, such reasonable and necessary current expenses of the Town, paid or accrued, of operating, maintaining and repairing the Project as may be determined by the Town Council, and the~term may include at the Town Council's option, except as limited by contract or otherwise limited~by law, without Limiting the generality of the foregoing: (a) Legal and overhead expenses of the various departments of the Town directly related and reasonably allocable to the administration of the Project; -6- ~ ~ ~ ~ (b) Fidelity bond =.d insurance premiums appertaining to the Project or a reasonably allocable share of a premium of any blanket bond or policy pertaining to the Project; {c) Contractual services, professional services, salaries, administrative expenses, and costs of labor appertaining to Project; (d) The costs incurred in the collection of all ar any part of the Gross Project Revenues; • (e} Any costs of utility services furnished to the Project by the Town or otherwise. "Operation and Maintenance Expenses" does not include: (i) Any allowance for depreciation; (ii) Any costs of reconstruction, improvements, extensions, or betterments; (iii) Any accumulation of reserves for capital replacements; {iv) Any reserves for operation, maintenance, or repair of the Project; {v) Any allowance far the redemption of the Warrants, or the payment of any interest thereon; {vi) Any liabilities incurred in the acquisition or improvement of any properties comprising the Project ar any combination thereof; (vii) Any other ground of legal liability nat. based on contract. (26} Ordinance: This Ordinance No. 4, Series of 1980, of the Town, which provides for the issuance and delivery of the Warrants. {27) Ordinance No, 11: Ordinance No. 11, Series of 1973, of the Town authorized by the electors of the Town on September 25, 1973, and any supplements or amendments thereof. (28) Ordinance Na. 25: Ordinance No. 26, Series of 1979, of the Town, adopted and enacted on July 17, 1979, by the Town Council, entitled "An Ordinance Imposing a Land Transfer Tax Upon the Transfer of Interests in Real Property; Earmarking the Proceeds Therefrom for the Purchase of Real Property to be Used -7- ~ ~ ~ • fo~Jpen Space, Recreational Park Purposes, Requiring~~ae Collection of such Tax by the Town Manager or His Agents; Authorizing the Town Manager to Enter into an Inter-Governmental Contract with Eagle County for the Collection of the Tax Imposed; Exempting Certain Transactions From the Tax Imposed; Establishing Procedures for Acquiring a Certificate of Exemption; Establishing Penalties for Violations of this Ordinance; Creation of a Lien an the Property Transferred for the Amount of the Tax t3npaid; and Setting Forth Details in Relation to the Foregoing," and any supplements or amendments thereof. {29} Outstanding or outstanding: when used with reference to the Warrants, the Additional Parity Warrants, the Superior General Obligation Bonds or any other designated securities of the Town and as of any particular date, all the Warrants, the Additional Parity Warrants, the Superior General Obligation Bonds or any such other securities payable in whole or in part from the Pledged Revenues or otherwise pertaining to the Project, as the case may be, in any manner theretofore and thereupon being executed and delivered, except the following: {a} Any Warrant, Additional Parity Warrant, Superior General Obligation Bond or other security cancelled by the Town, by the Paying Agent, or otherwise on the Town's behalf, at or before such date; (b} Any Warrant, Additional Parity Warrant or Superior General Obligation Bond held by or an behalf of the Town; (c) Any Warrant, Additional Parity Warrant, Superior General Obligation Bond or other security of the Town for the payment or the redemption of which moneys or Federal Securities sufficient to meet all of the payment requirements of the principal of, the interest on, and any prior redemption premiums due in connection with such Warrant, Additional Parity Warrants, Superior General Obligation Bond or other security to the date of maturing or any redemption date thereof, shall have theretofore been deposited in escrow or in trust with a Trust Bank for that purpose, as provided in and required by Section 9 hereof; and _g_ (d) Any lost, appa~ntiy destroyed, or wrongfully taken Warrant, Additional Parity Warrant, Superior General Obligation Bond or other security of the Town in lieu of or in substitution for which another warrant, bond ar other security shall have been executed and delivered pursuant to this Ordinance. (3a} Parity Securities: warrants, bonds ar securities payable from the Pledged Revenues equally ar on a parity with the Warrants. (31} Paying Agent: (to be inserted on second reading) in , Colorado, which is the agent of the Town far the payment of the Warrants . (32} Person: any individual, firm, partnership, corporation, company, association, joint-stock association, or body politic; and the term includes any trustee, receiver, assignee, ar other similar representative thereof. (33} Pledged Land Transfer Tax Revenues: the gross receipts collected by the Town from the i,and Transfer Tax. (34} Pledged Revenues: all or a portion of the Pledged Land Transfer Tax Revenues, and, on a basis subordinate and junior to the Superior General Obligation Bonds, the Pledged Sales Tax Revenues. The designated term indicates a source of revenues and does not necessarily indicate all or any portion or other part of such revenues in the absence of further qualification.. (35) Pledged Sales Tax Revenues: the one--half of the gross receipts collected by the Town from its 4% sales tax authorized by Ordinance No. 11 devoted to and specifically earmarked by ordinance No. 11 for the purpose of real estate acquisition and for the acquisition, construction and equipping of buildings and facilities of the Tawn. (36) Principal and znterest Fund: the special fund created by Section 5C hereof. (37} Prior General Obligation Bonds: the following Series of General Obligation Bonds of the Town: Series 1974, dated November 15, 1974, in the original principal amount of $2,640,000 which issue refunded Series November 1, 1973; Series September 1, 197b, -9- ~ • ~ 'in1 ~o nrinina7 arincinal amot~ ~ of 5300,000; Series 1976, dated November 1, 1975, in the original principal amount of $6,345,000 which issue refunded Series March 1, 1974, and Series December 1, 1975; Series May 1, 1977, in the original principal amount of $450,000; and Series December 1, 1977, in the original principal amount of $2,350,000. {38} Prior Ordinances: the following ordinances of the Town: Ordinance No. 19, Series 1973; Ordinance No. 3, Series of 1974; Ordinance No, 21, Series of 1974, Ordinance No. 21, Series of 1975; Ordinance No. 24, Series of 1976; Ordinance No. 26, Series of 1975; Ordinance No. 11, Series of 1977; and Ordinance No. 31, Series of 1977. {39) Project: the acquisition of real property in the Town for parks, recreation, open space and other similar purposes, for which purposes the Warrants are issued hereunder, whether such acquisition is undertaken at one time or in stages. {40) Purchaser: Hanifen, Tmhoff & Samford, of Denver, Colorado, and its associates, if any. {41) Real Property: real property as defined by and under the laws of the State. (42) Redemption Date: the date fixed for the redemption prior to their maturity of any Warrants or other designated securities payable from the Pledged Revenues in any notice of . .prior redemption authorized by the Town, or otherwise fixed and designated by the Town. {43) Redemption Price: when used with respect to a Warrant or other designated security payable from the Pledged Revenues, the principal amount thereof plus the applicable premium, if any, payable upon the redemption thereof prior to the stated maturity date of such Warrant or other security on a Redemption Date in the manner contemplated. in accordance with the terms of the Warrant or other security. {44) Reserve Fund: the special fund created by Section 5D hereof . {45) Sales Tax: the sales tax established by Ordinance No. 11 upon the sale of tangible personal property at retail and the -10-- 4 4 • ~. furnishing of services within the Town, in such percentage as set forth in Ordinance No. 11, or any supplements or amendments thereof. (46) security or securities: when used with reference to securities of the Town, any warrant or bond issued by the Town, or any other evidence of the advancement of money to the Town. (47) State: the State of Colorado. {48) Subordinate Warrants or Subordinate Securities: bonds or securities payable from the Pledged Revenues having a lien thereon subordinate or junior•to the Tien thereon of the Warrants. (49) Superior Bonds or Superior Securities: the Prior General Obligation Bonds, Additional Parity General Obligation Bonds and any other bonds or securities payable from the Pledged Sales Tax Revenues having a lien thereon superior or senioz to the lien thereon of the Warrants, (50) Superior General Obligation Bonds: the Prior General Obligation Bands and Additional Parity General Obligation Bonds, which bonds have a lien on the Pledged Sales Tax Revenues superior or senior to the lien thereon of the Warrants. (51) Town: the Town of Vail, Colorado.. (52) Town Clerk: the de jute or de facto Town Clerk of the Town or his or her successor i.n functions, if any. {53} Town Council: the Town Council of the Town or any successor in functions thereto. {54} Transfer(s): any grant or conveyance of the ownership of a title to Real Property that is evidenced by any deed, conveyance, instrument or writing wherein or whereby title to Real Property situated in the Town is granted or conveyed, or the conveyance of a possessory interest and all other indicia of ownership without the passing of legal title, subject to the exclusions provided in Ordinance No. 26. {5S) Trust Bank: a Commercial Bank located within the State of Colorado, which bank is authorized to exercise and is exercising trust powers. (56) Warrants or Warrant: those securities issued hereunder and designated as the "Town of Vail, Colorado, Land Transfer Tax --11- ~ ~ An~ ipation Warrants, Series ~ 80A," dated February 1, 1~,~, in the aggregate principal amount of $5,350,400. B. Construction. This Ordinance, except where the context by clear implication herein otherwise requires, shall be construed as follows: (1) Words in the singular number include the plural, and words in the plural include the singular . (2) Word s in the masculine gender include the feminine and the neuter, and when the sense so indicates words of the neuter gender refer to any gender. (3) Articles, sections, subsections, paragraphs and subparagraphs mentioned by number, letter, or otherwise, correspond to the respective articles, sections, subsections, paragraphs and subparagraphs of this Ordinance so numbered or otherwise so designated. (4) The titles and headlines applied to articles, sections and subsections of this Ordinance are inserted only as a matter of convenience and ease in reference and in no way define, or limit the scope or intent of, any provisions of this Ordinance. Section 2. Recitals; Authority. A. Necessity. The Town has need for and desires to acquire real property for use as parks, recreation, open space or similar purposes, including the Project. B. Land Transfer Tax. Pursuant to Ordinance No. 26 and Section 11.1 of the Charter, the Town Council has imposed the Land Transfer Tax on all Transfers of Real Property located in the Town, except Exempt Transfers, has created the Land Transfer Tax Fund and has provided that alI proceeds of the Land Transfer Tax be deposited in the Land Transfer Tax Fund, to be used for certain public purposes including the Project. C. Authority For Warrants. The Town is authorized, by Section. 10.1 and 10.4 of the Charter, to borrow money and issue anticipation warrants to evidence such borrowing, maturing within such period as shall be determined by the Town Council. D. Pledged Sales Tax Revenues. Pursuant to the Prior Ordinances and related authorizing elections, the Town has previously issued the -12- Prior General Obligation Bonds an~has covenanted and agreed, n each of the Prior Ordinances, to pledge and set aside all of the Pledged Sales Tax Revenues to pay the principal of and interest on the Prior General Obligation Bonds. The Prior Ordinances provided that the Pledged Sales Tax Revenues may also be pledged and used far the payment of the principal of and interest on any other or additional general obligation bonds of the Town which may be issued thereafter on a parity with or subordinate to the Prior General Obligation Bonds,' with respect to the Pledged Sales Tax Revenues. The Prior Ordinances_ also provided that, to the extent-.that the principal of and interest on the Prior General Obligation Bonds are fully provided far in any Fiscal Year by tax revenues and other moneys legally available therefor, the Town is authorized to use such excess Pledged Sales Tax Revenues for other purposes, including, but nat limited to, payment of special non-general obligation bonds of the Town which may not be issued on a parity with the Prior General Obligation Bonds, but only may be issued in a subordinate and inferior position to the claim of the Prior General Obligation Bonds to the Pledged Sales Tax Revenues. Section 3. The Warrants. A. Authorization. The Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Series 1980A, in the aggregate principal amount of $5,350,000, payable as to all Debt Service Requirements solely out of Pledged Revenues are hereby authorized to be issued, pursuant to the Charter and the terms of the Ordinance, and the Town assigns and pledges irrevocably, but not necessarily exclusively, the Pledged Revenues to the payment of the Debt Service Requirements for the Warrants, the proceeds of the Warrants authorized herein to be used solely to defray the Cost of the Project. B. Warrant Details. (1) Generally. The Warrants sha11 be issued payable to bearer, and dated as of February 1, 1980, consisting of 1,070 Warrants in the denomination of $5,000 each numbered consecutively in regular numerical order from l through 1,070. The Warrants shall bear one set of interest coupons evidencing interest thereon from February 1, 1980, to their respective maturity dates, except if redeemed prior thereto, at the per annum rates of _13_ 4 ~ interes~ stated below. The coupo~interest shall be payable ~une 1. 1980, and semiannually thereafter on the 1st day of June and the 1st day of December of each year. The Warrants shall be numbered, shall mature on the 1st day of December in the principal amounts and years, and shall bear per annum interest at the rates as shown in the following schedule: Per Annum Wa rrants Principal Coupon (both inclusive) Amounts Years Interest Rates 1 •to 20 $ 100,000 1981 8.10 0 2l to 45 125,000 1982 8.20 46 to 70 125,OOD 1983 8.30 71 to 100 150,000 1984 8.40 101 to 135 175,000 1985 8.50 136 to l75 200,000 1986 8.60 176 to 220 225,000 1987 8.70 22l to 265 225,000 1988 8.80 256 to 315 250,OOD 1989 8.90 316 to 370 275,000 1990 9.00 371 to 1070 3,500,00() 1999 9.25 The Debt Service Requirements of the Warrants are payable in lawful money of the United States of America, without deduction far exchange or collection charges, upon presentation and surrender of the Warrants and the interest coupons as they severally become due, at the office of the Paying Agent. If upon presentation at maturity payment of any Warrant is not made as herein provided, interest shall continue thereon at the interest rate designated in the Warrant until the principal thereof is paid in full. (2) Redemption of Warrants Prior to Maturity. .The Warrants shall not be subject to redemption prior to maturity except as follows: {i) A sinking fund account shall be established and maintained by the Town in the Principal and Interest Fund for the Warrants maturing in 1999, and sinking fund installments shall be credited to this sinking fund account in the following respective amounts and the Town shall redeem the Warrants maturing in 1999 on December 1 in each of the following respective years and amounts, at a price equal to the principal amount thereof plus accrued interest to the Redemption Date: -14- g Sinking Fu Installments (Principal Amounts to be Redeemed) Date (December 1} Amount 1991 $275,000 1992 300, D00 1993 325,DDD 1994 350, 000 1995 375,000 1996 400, OD0 1997 450,000 1998 500, 000 There wi11 remaim $525,000 of the Warrants to be paid on December 1, 1999. (ii) Warrants maturing on December 1, 1999, shall also be callable for redemption at the option of the Town, in whole or in part, on any interest payment date beginning December 1, 1990, at a price equal to the principal amount thereof, plus accrued interest to the Redemption Date, and to the extent such Warrants are redeemed with moneys in excess of the required sinking fund installments provided far above, there sha11 be paid a premium of one and one half per centum (1.50} of the principal amount thereof. {iii) If less than all Warrants maturing December 1, 1999, are to be redeemed as part of a sinking fund installment or otherwise, the Town shall select by lot any of such Warrants which are to be called for redemption from among the serial numbers of the Warrants maturing Aecember 1, 1999. Notice of any redemption shall be given by the Town Clerk in the name of the Town: (i} Publication. 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, and {ii) Mail. By sending a copy of such notice by first-class, postage prepaid mail, at least thirty {30} days prior to the Redemption Aate, to the Holders of each of the Warrants being redeemed, if the names and addresses of the Holders are recorded with -15- ~ * • the To ., Clerk. For this purpose, :.he t3older of any such War~.~t may at any time furnish his name and address to the Town Clerk. Such notice shall specify the number or numbers of the Warrants 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 Warrant so to be redeemed at the office of the Paying Agent the principal amocnt thereof and accrued interest on the principal amount of each Warrant to the Redemption bate, and any premiums payable on prior redemption, and that from and after such date interest will cease to accrue. Any Warrants redeemed prior to their maturity by call for prior redemption (or otherwise) shall not be reissued and shall be cancelled the same as Warrants paid at or after maturity. (3) Negotiable Instruments. Title to any Warrant or to any coupon shah, pass by delivery merely, as a negotiable instrument payable to bearer. Subject to the provisions expressly made or necessarily implied herein, the Warrants and the coupons pertaining thereto shall be fully negotiable and shall have a1i the qualities of negotiable paper within the meaning and for all the purposes of investment securities under the provisions of part 1 of article 8 of title 4, Colorado Revised Statutes 1973, as amended, the Uniform Commercial Code---Investment Securities; and each Holder or Holders of the Warrants, by accepting the same, shall be conclusively deemed to have agreed that the Warrants, except as otherwise provided, are and shall be fully negotiable within the meaning and for all purposes of investment securities pursuant to said statute. (4) Interest Rates. The maximum net effective interest rate specified for the Warrants of this issue is 9.50 and the actual net effective interest rate for the Warrants is 9.38. (5) Execution and Delivery. The Warrants shall be signed and executed by and on behalf of the Tawn with the facsimile signature of the Mayor, shall bear a facsimile of the seal of the Town and shall be attested by the manual signature of the Town Clerk; and each of the Warrants shall have attached thereto coupons bearing the facsimile signature of the Mayor, securing the payment of the interest accruing thereon as it falls due. Should any officer whale signature or --15 f 4 • facsim~le signature appear on the~arrants or the coupons the to attached cease to be such officer before delivery of the Warrants to the Purchaser, such signature or facsimile signature shall nevertheless be valid and sufficient for all purposes. The Mayor and the Town Clerk are hereby authorized and directed to prepare and to execute the Warrants as herein provided. When the Warrants have been duly executed and sold, the officers of the Town are authorized to, and shall, deliver the Warrants to the Purchaser' thereof on~receipt of the agreed purchase price. (6) Last, Destroyed or Taken Warrants. If any Outstanding Warrant or coupon shall become lost, apparently destroyed, or wrongfully taken, it may be reissued in the form and tenor of the lost, destroyed ar taken Warrant or coupon upon the owner furnishing, to the satisfaction of the Town Council: (a) proof of ownership, (b) proof of loss or destruction, (c) a surety bond in twice the amount of the securities in question, including any unmatured coupons appertaining thereto, and (d) payment of the cost of preparing and issuing the new security. Nothing contained in the provisions of this section prohibits the Town from reissuing, upon such terms and conditions as the Town Council may determine, and provided that such terms and conditions are not otherwise contrary to the provisions of this Ordinance or the requirements of law, any Outstanding Warrant or coupon which shall not have become lost, apparently destroyed, or wrongfully taken. (7) Recitals in Warrants. Each Warrant shall recite in substance that the Warrant is payable solely from the Pledged Land Transfer Tax Revenues and, on a basis subordinate and junior to the Prior General Obligation Bonds and Additional General Obligation Bands issued an a parity with the Prior General Obligation Bonds, the Pledged Sales Tax Revenues for, collectively, Pledged Revenues), that the Warrant does not constitute a debt of the Town within the meaning of any constitutional, Charter or statutory limitations, that the Warrant is not payable in whole or in part from the proceeds of general property taxes and that the full faith and credit of the Town is not pledged to pay the principal of or interest on such Warrant. Each Warrant shall further recite that it is issued under the authority of the Charter and this Ordinance. -17- • 4 ~ (8) Form of Warrants and Coupons. Subject to the provisions of this Ordinance, each Warrant, and the coupons to be attached thereto, shall be in substantially the following form, with such omissions, insertions, endorsements, and variations as to recitals of fact or other provisions as may be required by the circumstances and as may be required or permitted by this Ordinance, and as may be necessary or appropriate to conform to the rules and requirements of any governmental authority or to any usage or requirement of law with respect thereto: -18- 4 4 ~ STATE OF COLORADO t COUNTY OF EAGLE TOWN OF VAI L LAND TRANSFER TAX ANTTCIPATTON WARRANT SERIES 1980A No. $5,{300 The Town of Vail, in the County of Eagle, and State of Colorado . (the 'T'own}~ for value received, hereby promises to pay to the bearer hereof, solely from the special funds provided therefor, as hereinafter set forth, on the 1st day of December, 19 the principal sum of FIVE THOUSAND DOLLARS and to pay solely from said special funds interest thereon as evidenced by interest coupons hereto attached, at the rate of _ per centum ( ~) per annum from February 1, 1980, to the maturity date of this Warrant, except if redeemed prior thereto, payable June 1, 1980, and semiannually thereafter on the 1st day of June and the 1st day of December of each year, upon presentation and surrender of this Warrant and said coupons as they severally became due. If upon presentation at maturity payment of this warrant is not made as herein provided, interest shall continue at the interest rate designated herein until the principal hereof is paid in full, The principal of, interest on, and any premium due in connection with the redemption of this Warrant, whether as part of a sinking fund installment as hereinafter provided or otherwise (the Debt Service Requirements} are payable in lawful money of the United States of America, without deduction for exchange or collection charges, out of the special funds hereinafter specified, but not otherwise, at in Colorado (the Paying Agent}- upon presentation and surrender of said coupons and this Warrant as they severally became due. The Warrants are not subject to redemption prior to maturity except as follows: (a) The Warrants maturing on December 1, 1999, are to be redeemed from the sinking fund account in the Principal and Interest Fund as hereinafter defined in the following principal amounts on December 1 (Form of Warrant) UNTTED STATES OF AMERICA -19- ~ ~ • in each ~f the following years, re~~.ectively, at their princip`~._ amount plus accrued interest thereon to the date fixed for redemption: Year Amount Year Amount 1991 $275,000 1995 $375,000 1992 300,000 1996 400,000 1993 325,000 1997 450,000 1994 350,000 1998 504,000 (b) Warrants maturing on December 1, 1999, are also subject to redemption at the option of the Town, in whole or in part, an any interest payment date beginning December 1, 1990, at a price equal to the principal amount thereof, plus accrued interest to the redemption date, and to the extent such Warrants are 'redeemed with moneys in excess of the required sinking fund installments provided for above, there shall be paid a premium of one and one half per centum {1.5~) of the principal amount thereof. {c) If less than all Warrants maturing December 1, 1999, are to be redeemed as part of a sinking fund installment or otherwise, the Town shall select by lot any of such Warrants from among the serial numbers of the Warrants maturing December 1, 1999. 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, and by sending a copy of such notice by first-class postage prepaid mail, at least thirty (30) days prior to the Redemption Date specified in such notice to the holders of each of the Warrants being redeemed, if the names and addresses of the holders are recorded with the Town Clerk. For this purpose, the holder of any such Warrant may at any time furnish his name and address to the Town Clerk. If this Warrant shall have been duly called for redemption and if on or before the Redemption Date there shall have been deposited with the Raying Agent funds sufficient to pay this Warrant at the Redemption Date, then this Warrant shall become due and payable upon such Redemption Date, and interest shall cease to accrue hereon after the Redemption Date. This Warrant and the Warrants of the series of which this is one are limited and special obligations of the Town payable solely out of -20- ~r • • and sec~..ed by an irrevocable assiFment and pledge of the Pl~,ed Land Transfer Tax Revenues derived and to be derived from the Land Transfer Tax of the Town, and, on a basis subordinate and junior to certain outstanding General Obligation Bonds of the Town and General Obligation Bonds of the Town hereafter issued an a parity with such outstanding General Obligation Bonds, the Pledged Sales Tax Revenues derived ar to be derived from a portion of the sales tax levied in the Town (the Pledged Land Transfer Tax Revenues and the Pledged Sales Tax Revenues, collectively called Pledged Revenues), as more specifically provided in Ordinance No. ~, Series of 1980 (the Ordinance), pursuant to which this Warrant is issued. This Warrant and the interest coupons appurtenant hereto do nat constitute a debt or an indebtedness of the Town within the meaning of any constitutional ar statutory provision or limitations of the State of Colorado or any provision or limitation of the Charter of the Town. This Warrant is not payable in whale or in part from the proceeds of general property taxes and the full faith and credit of the Town is not pledged to pay the principal of ar interest on this Warrant. Payment of the Debt Service Requirements of this Warrant shall be made solely from, and as security for such payment there are irrevocably (but not exclusively) pledged, pursuant to the Ordinance, two special funds thereby created and identified as the "Yawn of Vail, Golorada, Land Transfer Tax Anticipation Warrants, Principal and Interest Fund" and the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Reserve Fund", into which funds the Town has covenanted in the Ordinance to pay, respectively, from the Pledged Revenues sums sufficient to pay when due the Debt Service Requirements of the Warrants of the series of which this is one and any additional parity securities hereafter issued and payable from such revenues, and to accumulate and maintain a specified reserve for such purposes. In addition, the Town may at its option augment such funds with any other moneys of the Tawn legally available for expenditure for the purposes thereof as provided in the Ordinance. It is hereby recited, certified and warranted that for the payment of this Warrant and of the interest hereon, the Town has created and will maintain said special funds and will deposit the Pledged Revenues -21-- c ,~ therein, out of the amounts and revenues specified in the Ordinance referred to above authorizing the issuance of this Warrant, and out of said special funds, as an irrevocable charge thereon, will pay this Warrant and the interest hereon, in the manner provided by the Ordinance. The Warrants of the series of which this is one are equitably and ratably secured by a Tien on the Pledged Land Transfer Tax Revenues and such Warrants constitute an irrevocable and first lien (but not necessarily an exclusive first lien) upon the Pledged Land Transfer ..~~ Tax Revenues. Such Warrants are also equitably and ratably secured by a lien on the Pledged Sales Tax Revenues, but such Warrants only constitute an irrevocable and second and subordinate lien (but not necessarily an exclusive second Lien) upon the Pledged Sales Tax Revenues, such lien being second and subordinate to the lien on such revenues of certain outstanding General Obligation Bonds of the Town and General Obligation Bonds hereafter issued on a parity with such outstanding General Obligation Bonds. Warrants and other types of securities, in addition to the Warrants of the series of which this is one, subject to expressed Conditions, may be issued and made payable from the Pledged Revenues having a lien thereon subordinate and junior to the lien of the Warrants of the series of which this is one or, Subject to additional expressed conditions, having a lien thereon an a parity with the lien of such Warrants in accordance with the provisions of the Ordinance. General Obligation Bonds of the Town, in addition to the General Obligation Bonds outstanding an the date hereof, subject to expressed conditions, may be issued and made payable Pram the Pledged Sales Tax Revenues having a lien thereon subordinate and junior to the lien of the General Obligation Bonds outstanding on the date hereof and of the Warrants of the series of which this is one or, subject to additional expressed conditions, having a lien thereon on a parity with the lien of such outstanding General Obligation Bonds and superior to the lien of such Warrants in accordance with the provisions of the Ordinance. Bxcept as otherwise expressly provided in this Warrant and the Ordinance, the Pledged Land Transfer Tax Revenues and the Pledged Sales Tax Revenues are assigned, pledged and set aside to the payment of this Warrant, the series of -22- • R which ~~s Warrant is one, and tht interest hereon and thereo~ in anticipation of the collection of the Fledged Land Transfer Tax Revenues and the Fledged Sales Tax Revenues. The Town covenants and agrees with the holder of this Warrant and with each and every person who may become the holder hereof that it will keep and will perform all of the covenants of this Warrant and of the Ordinance. This Warrant is one of a series of 1,070 Warrants in the aggregate principal amount of $5,350,Q00, of like tenor and date, except as to . number and interest rate, issued end authorized for the purpose of defraying in whole or in part the cost of acquiring real property for parks, recreation, open space and other similar purposes, under the authority of and in full conformity with the Constitution of the State of Colorado, the Town Charter, and all other laws of the State of Colorado thereunto enabling, and pursuant to the Ordinance and other ordinances of the Town, duly adopted, published and made laws of the Town prior to the issuance of this Warrant. Reference is hereby made to the Ordinance, and to any and all modifications and amendments thereof, for a description of the provisions, terms and conditions upon which the Warrants of the series of which this is one are issued and secured, including, without limitation, the nature and extent of the security for the Warrants, provisions with respect to the custody and application of the proceeds of the Warrants, the collection and disposition of the revenues and moneys charged with and pledged to the payment of the Debt Service Requirements of the Warrants, the terms and conditions on which the Warrants are issued, a description of said special funds referred to above and the nature and extent of the security and pledge afforded thereby for the payment of the Debt Service Requirements, and the manner of enforcement of said pledge, as well as the rights, duties, immunities and obligations of the Town and the members of its Town Council and also the rights and remedies of the holders of the Warrants . To the Extent and in the respects permitted by the Ordinance, the provisions of the Ordinance, or any instrument amendatory thereof or supplemental thereto, may be modified or amended by action of the Town -23- ~ ~ • taken ~ the manner and subject tche conditions and excepti~ s provided in the Ordinance. The pledge of revenues and other obligations of the Town under the Ordinance may be discharged at or prior to the maturity ar prior redemption of the warrants upon the making of provision for the payment of the Warrants on the terms and conditions set forth in the Ordinance. It is hereby recited, certified and warranted that all the requirements of law have been fully complied with by the proper officers o~ the Town in the issuance of this Warrant; that it is issued pursuant to and in strict conformity with the Constitution of the State of Colorado, the Town Charter, and all other laws of the State of Colorado, and with the supplemental thereto; that this constitutional or Statutory Iim limitation of the Town Charter; other Warrants of the series of authority of the Ordinance. Ordinance and any instrument Warrant does not contravene any itation of the State of Colorado or any and that this Warrant and each of the which it is one are issued under the For the payment of this Warrant and the interest hereon, the Town pledges the exercise of all its lawful corporate powers. IN WITNESS WHEREOF, the Town Council of the Town of Vail, Colorado, has caused this Warrant to be signed in its name and on its behalf with the facsimile signature of the Mayor of the Town, to be sealed with a facsimile seal of the Town, and to be signed and - attested by the manual signature of the Town Clerk of the Town, and has caused the attached coupons to be signed with the facsimile signature of the Mayor of the Town, all as of the lst day of February, 198E3. {FACSIMILE) ( SEAL } Attest: (Manual Signature} Town Cler K TOWN OF VAIL, COLORADO By {Facsimile Signature) Mayor (End of Form of Warrant) -24- ~ ~ (Form of I_~rest Coupon) Coupon No. ,Tune , On the first day of December, 19 unless the Warrant to which this coupon is attached has been called for prior redemption, the Town of Vail, in the County of Eagle and State of Colorado, will upon surrender of this coupon pay to bearer the amount shown hereon in lawful money of the United States of America, without deduction for exchange or collection Charges, at ;- in Colorado, solely from and secured by a pledge of two special funds, created from the Pledged Revenues derived from the sources set forth in the Warrant to which this coupon pertains, being the interest then due on its Town of Vail, Colorado, Land Transfer Tax Anticipation Warrant, Series 198dA, bearing Warrant No. (Facsimile Signature) Mayor Town of Vail, Colorado (End of Form of Coupon) -25- ~~ ~1 C. Warrants Equally Secured The covenants and agreem ~ a herein set forth to be performed on behalf of the Town shall be far the equal benefit, protection and security of the Holders of any and all of the Warrants and the coupons pertaining thereto, all of which, regardless of the time or times of their maturity, shall be of equal rank without preference, priority or distinction of any of the Warrants or coupons over any other thereof, except as otherwise expressly provided in or pursuant to this Ordinance. D. Special Obligations. All of the Trdarrants, as to all Debt Service Requirements thereof, sha3.1 be payable and collectible solely out of the Pledged Revenues, which revenues are hereby so assigned and pledged for that purpose; the Holder or Holders of any of the Warrants or coupons may not look to any general or other fund of the Town for the payment of the Debt Service Requirements, except the herein-designated special funds pledged therefor; the Warrants and coupons appertaining thereto shall not constitute an indebtedness or a. debt o£ the Town within the meaning of any constitutional or statutory provision or limitation of the State of Colorado or any provision or limitation of the Town of Vail Charter; and the Warrants and coupons shall not be considered or held to be general obligations of the Town but shall constitute the special and limited obligations of the Town. The Warrants are not payable in whole or in part from the proceeds of general property taxes and the full faith and credit of the Town is not pledged for payment of the Warrants or their coupons. Section 4. Sale of Warrants. A. Necessity of Project and Issuance of Warrants. It is necessary and for the best interests of the Town and the inhabitants thereof that the Town acquire the Project and defray all or a portion of the Cast of the Project by issuing the Warrants . B. Warrant Purchase Agreement; Award of Sale. The Town Council has received for approval and there is now on file in the office of the Town Clerk a Warrant Purchase Agreement, dated January B, 1980, between the Town and the Purchaser, executed by the Purchaser, pursuant to which the Purchaser offers to purchase the Warrants in accordance with the terms of this Ordinance and the Warrant Purchase Agreement at a price of 97~ of the principal amount of the Warrants. -26- • * s The Wa~ant Purchase Agreement is~ pproved and the Mayor is a~ .iorized and directed to execute the Warrant Purchase Agreement in the name and nn behalf of the Town. C. Preliminary Official Statement; Official Statement. The Town Council has received for approval and there is now on file in the office of the Town Clerk the Preliminary Official Statement of the Town, dated January 8, 1980, relating to the issuance and sale of the Warrants. The contents of the Preliminary Official Statement are hereby app"roved. The use of the Preliminary Official Statement by the. Purchaser for the reoffering of the Warrants to the public is approved and the Mayor, on behalf of the Town, is authorized to sign one or more copies of the Preliminary Official Statement and the Final Official Statement. Section 5. Funds Created by Ordinance. A. Disposition of Warrant Proceeds and Dther Revenues; Security For Warrants. The proceeds from the sale of the Warrants, the Pledged Revenues and all Net Project Revenues received by the Town from the Project shall be deposited by the Town in the funds described in this Section 5, to be accounted for in the manner and priority set forth in this Section 5. The validity of the Warr«nts shall not be dependent on nor be affected by the validity or regularity of any proceedings relating to the Project or any part thereof. The Purchaser of the Warrants, any associate thereof, and any subsequent Holder of any, Warrants shall in no manner be responsible for the application or disposal by the Town or by any of its officers, agents and employees of the moneys derived from the sale of the Warrants or of any other moneys designated in this Section 5. Until the proceeds of the Warrants are applied as provided in this Section 5 and used to defray the Cost of the Praject from time to time, the proceeds of the Warrants shall be subject to a lien thereon and pledge thereof for the benefit of the Holders of the Warrants from time to time as provided in this Section 5. The Pledged Revenues, and all moneys and securities paid or to be paid to or held or to be held in any fund or account hereunder are hereby .assigned and pledged to secure the payment of the Debt Service -27- ~ ~ ~ Re uire„+ents of the Warrants, sub ,~ q ~.:ct to the provisions herein. relating to the Acquisition Fund; and this assignment and pledge shall be valid and binding from and after the date of the first delivery of the Warrants, and the moneys, as received by the Town and hereby assigned and pledged, shall immediately be subject to the lien of this assignment and pledge without any physical delivery thereof, any filing, or further act, and the lien of this assignment and pledge and the obligation to perform the contractual provisions hereby made shall have priority over any or all other obligations and liabilities of the. Town (except as herein otherwise e-xpressly provided), and the lien of this assignment and pledge shall be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Tawn (except as herein otherwise expressly provided), irrespective of whether such parties have notice thereof. B. Acquisition Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Acquisition Fund." The proceeds of the Warrants, except the sums required in Section 5C and 5D hereof to be deposited in the Principal and Interest Fund and the Reserve Fund, shall be deposited in the Acguisition Fund and shall be used and withdrawn only as provided in this Section 5B. The moneys in the Acguisition Fund, except as herein otherwise expressly provided, shall be used and paid aut from time to time solely for the purpose of paying the Cost of the Project and are pledged therefor. Any surplus remaining in the Acquisition Fund after completion of the acquisition of the Project may be deposited in the Principal and Interest Fund and used for the purposes of the Principal and Interest Fund, may be used to the extent feasible to call and redeem the Warrants in advance of maturity or may be used to acquire other real property far parks, recreational, open space or other similar use purposes in the Town. The Town shall use any proceeds of the warrants credited to the Acquisition Fund, without further order, to pay the Debt Service Reguirements of the Warrants as the same become due whenever and to the extent moneys in the Principal and Interest Fund and the Reserve Fund or moneys otherwise available therefor are insufficient for that purpose, unless such proceeds shall -28- ~ ~ ~ be nee ed to defray obligations accrued and to accrue under ~y contracts then existing and pertaining to the Project. Any moneys so used shall be restored to the Acquisition Fund, from the first Pledged Revenues thereafter received and not needed to meet the requirements provided in Sections 5C and 5D hereof. C. Principal and Interest Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Principal and Interest Fund." The Town shall deposit in the Principal and Interest Fund, forthwith upon receipt of the proceeds of the Warrants, interest accrued thereon from their date of issue to the date of delivery thereof to the Purchaser, to apply to the payment of interest on the Warrants as the same becomes due after their delivery. A5 moneys are received in the Land Transfer Tax Fund they shall be credited immediately to the Principal and Interest Fund until the total amount accumulated therein is equal to the sum of the following: {1) Interest Payments. The aggregate amount of the next maturing installment of interest on the Warrants, any Additional Parity Warrants and any other Parity Securities then Outstanding; plus {2) Principal Payments. The aggregate amount of the next maturing installment of principal of set forth in Section B(2)(i)) due on Parity Warrants and any other Parity Such interest anal principal shall b~ such principal is due at maturity or installment. or sinking fund installment (as the Warrants, any Additional Securities then Outstanding. promptly paid when due, whether due as a sinking fund The moneys credited to the Principal and Interest Fund shall be Used to pay the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities then Outstanding, as such Debt Service Requirements become due, except as otherwise provided in Sections 3B, 5D, 5E and 9 hereof. In accordance with and within the limitations set forth in Section 7 hereof, in the event that Pledged Land Transfer Tax Revenues are not sufficient to pay the Debt Service Requirements as set forth in this Section, on or before ten days prior to the date on which the next maturing installments of interest on or principal of (including -29- ! * ~ ~. sinki ,, fund installments) on the .arrants, any Additional Pa~ty Warrants or any other Parity Securities then Outstanding is due, the Town shall credit to the Principal and Interest Fund, from Pledged Sales Tax Revenues a sum equal to the difference between the Debt Service Reguirement then due and the sums deposited to the Principal and interest Fund from Fledged Land Transfer Tax Revenues, to the extent that Pledged Sales Tax Revenues are legally available for such purpose, D. Reserve Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Reserve Fund." The Town shall deposit in the Reserve Fund, forthwith upon receipt of the proceeds of the Warrants, the sum of $55D,OQ0. No payment need be made into the Reserve Fund so long as the moneys therein shall equal not less than $550,00. The moneys in the Reserve Fund shall be maintained as a continuing reserve to be used, except as hereinafter provided in this Section 5D and Sections 5E and 9 hereof, only to prevent deficiencies in payment of the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities, then Outstanding, resulting from failure to deposit into the Principal and Interest Fund sufficient funds to pay such Debt Service Requirements as the same accrue . If at any time the Town shall for a.ny reason fail to pay into the Principal and Interest Fund the full amount above stipulated, then an amount shall be paid into the Principal and Interest Fund at such time from the Reserve Fund equal to the difference between that paid from the pledged Revenues and the full amount so stipulated. The money so used shall be replaced to the Reserve Fund from the first moneys credited to the Land Transfer Tax Fund thereafter received and not required to be otherwise applied by Section 5C hereof. If Additional Parity Warrants or other Parity Securities are Outstanding (other than the Warrants), and the proceedings authorizing the issuance of those securities require the replacement of moneys in a reserve account therefor, then the moneys replaced in the Reserve Fund shall be replaced an a pro rata basis based upon the principal amount of the then Outstanding Warrants and the total principal amount of the then -30- ~ ~ ~ Outstanding Additional. Parity Warrants or other Parity Securities, including the Warrants, as moneys became available therefor. E. Termination of Deposits; Use of honeys in Principal and Interest Fund and Reserve Fund. No payment need be made into the Principal and Interest Fund or the Reserve Fund, or both, if the amount in the Principal and Interest Fund and the amount in the Reserve Fund total a sum at least equal to the entire amount of the Outstanding Warrants and any Outstanding Additional Parity Warrants and Parity~5ecurities, as to all Debt Service Requirements, to their , respective maturities or to any Redemption Date or Redemption Dates on which the Town shall have exercised or shall have obligated itself to exercise its option to redeem, prior to their respective maturities, any Warrants, any Additional Parity Warrants and any other Parity Securities, then Outstanding, and thereafter maturing, both accrued and not accrued (provided that, solely for the purpose of this Section 5E, there shall be. deemed to be a credit to the Reserve Fund of moneys, Federal Securities and bank deposits, or any combination thereof, accounted for in any other account or accounts of the Town and restricted solely far the purpose of paying the Debt Service Requirements), in which case moneys in the Principal and Interest Fund and the Reserve Fund in an amount, except far any known interest or other gain to accrue from any investment or deposit of moneys pursuant to Section 6B hereof from the time of any such investment or deposit to th.e time or respective times the proceeds of any such investment or deposit shall be needed for such payment, at least equal to such Debt Service Requirements, shall be used together with any such gain from such investments and deposits solely to pay such Debt Service Requirements as the same become due; and any moneys in excess thereof in the Principal and Interest Fund and the Reserve Fund and any other moneys derived from the Pledged Revenues or otherwise pertaining to the Project may be used in any lawful manner determined by the Town. The moneys in the Prir~icipal and Interest Fund and in the Reserve Fund shall be used solely and only for the purpose of paying the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities hereafter authorized and Outstanding from time to time; but any moneys at any time in excess of the minimum -31- ~ • ~ amount~tequired to be maintained i,E the Reserve Fund may be w`1Lhdrawn therefrom, and transferred from time to time to the Principal and Interest Fund and distributed in the same manner as other moneys in the Principal and Interest Fund. F. Land Maintenance and Planning Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Land Maintenance and Planning Fund." Subject to the payments required by Sections 5B, 5C and 5D, from and to the extent that any moneys remain in the Land Transfer Tax Fund, _. there shall be deposited in the Land Maintenance and Planning Fund by five {5} approximately equal annual payments Starting no later than November 30, 1980, and continuing thereafter no later than the last day of the next succeeding four Bond Years ending November 30, 1981, through November 30, 1984, inclusive, that amount, if any, needed to accumulate or reaccumulate the amount in the Land Maintenance and Planning Fund so that on December 1, 1984, the amount in said Fund shall equal $250,000. No payment need be made into the Land Maintenance and Planning Fund so long as the moneys therein sha11 equal said amount. The moneys in the Land Maintenance and Planning Fund shall be set aside, accumulated, and, if necessary, reaccumulated from time to time, and maintained for the purpose of: (1) First, eliminating any deficiency in the Principal and Interest Fund or in the Reserve Fund, or both, in which event all available moneys from the Land Maintenance and Planning Fund shall be transferred to the Principal and Interest Fund or to the Reserve Fund, or to both, to the extent required to eliminate such deficiency; and (2} Second, paying the costs of unusual maintenance or repairs of the Project, renewals or replacements thereof, or the costs of planning, surveying, inspections and engineering in preparation of future acquisitions by the Town of real property far parks, recreational, open space and other similar purposes. Moneys in excess of said minimum amount required to be maintained in the Land Maintenance and Planning Fund shall be withdrawn therefrom and transferred to the Principal and Interest Fund and distributed in the same manner as other moneys in the Principal and Interest Fund. G, Payment of Additional Subordinate Securities. Subsequent to the payments required by the foregoing provisions of this Section 5, ~-32- ~ ~ ~ any m~.ys remaining in the Land ~nsfer Tax Fund and any md~ ys remaining from Pledged Sales Tax Revenues may be used by the Town for the payment of Debt Service Requirements of additional Subordinate Securities payable from the Pledged Revenues and hereafter authorized to be issued in accordance with this Ordinance and any other provisions herein supplemental thereto, including reasonable reserves for such Subordinate Securities, as the same accrue; but the lien of such Subordinate Securities on the Pledged Revenues and the pledge thereof fo,r the payment of Such Subordinate Securities shall be subordinate to the lien and pledge of the Warrants, the Superior General Obligation Bonds, Additional Parity Warrants and any Parity Securities as herein provided. H. Use of Remaining Revenues. After the payments hereinabove required to be made by Sections 5A through 5G hereof are made, at the end of any E'iscal Year, or whenever in any Fiscal Year there shall have been credited to the Principal and Interest Fund, and to the Reserve Fund, for the payment of the Warrants and any other securities payable from the Pledged Revenues all amounts required to be deposited in those special funds at that time, as herein provided, any remaining Pledged Sales Tax Revenues may be used for any lawful purpose as set forth in Ordinance No, 11, and any remaining moneys credited to the Land Transfer Tax Fund may be used only far any one or any combination of lawful purposes as set forth in Ordinance No. 26 and in Section 8B hereof . . Z. Budget and Appropriation of Funds. The sums provided to make the payments specified in this Section 5 are hereby appropriated for said purposes, 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 Town Council in each year respectively while any of the Warrants, either as to principal or interest, are Outstanding and unpaid. Na provisions of any constitution, statute, charter, ordinance, resolution, or other order ar measure enacted after the issuance of the Warrants shall in any manner be construed as limiting or impairing the obligation of the Town to keep and perform the covenants contained in this Ordinance so long as any of the Warrants remain Outstanding and unpaid. Nothing herein shall prohibit -33- • 4 the Ton Council from appropriating other funds of the Town l~yally available for this purpose to the Land Transfer Tax Fund or the Principal and Interest Fund for the purpose of providing for the payment of the principal of, interest on or any premiums due with respect to the Warrants. Section 6. General Administration of Funds. A. Places and Times of Deposits. Each of the special funds created in Section 5 hereof, the Land Transfer Tax Fund and the Capital Improvements and Open Space Fund shall be maintained in a Commercial Bank as a book account .kept separate and apart from all other accounts ar funds of the Town as trust accounts solely for the purposes herein designated therefor. For purposes of investment of moneys, nothing herein prevents the commingling of moneys accounted for in any two or mare such book accounts pertaining to the Pledged Revenues or to such fund and any other funds of the Town to be established under this Ordinance. Such book account shall be continuously secured to the fullest extent required or permitted by the laws of the State for the securing of public funds and shall be irrevocable and not withdrawable by anyone for any purpn,se other than the respective designated purposes of such funds or accounts. Each periodic payment shall be credited to the proper book account not later than the date therefor herein designated, except that when any such date sha11 be a Saturday, a Sunday or a legal holiday, then such payment shall be made on or before the next preceding business day. B. Investment of Funds. Any moneys in any fund established by this Ordinance or in the Land Transfer Tax fund or the Capital Improvements and Open Space Fund may be deposited, invested, or reinvested in any manner permitted by law. Securities or obligations purchased as such an investment shall either be subject to redemption at any time at face value by the holder thereof at the option of such holder, or shall mature at such time or times as shall most nearly coincide with the expected need for moneys from the fund in question. Securities or obligations so purchased as an investment of moneys in any such fund shall be deemed at all times to be a part of the applicable fund; provided that, with the exception of the Reserve Fund, the interest accruing on such investments and any profit -34~- r • ~ real m therefrom shall be credia to the Land Transfer Tax-und, and any loss resulting from such investments shall be charged to the particular fund in question. Interest and profit realized from investments in the Reserve Fund shall be credited to the Reserve Fund, provided that, so long as the amount in the Reserve Fund equals at least $550,000, such interest and profit may be transferred to the Principal and Interest Fund and distributed in the same manner as other moneys in the Principal and Interest Fund. Any loss resulting from such investments in the Reserve Fund shall be charged to the Reserve Fund. The Town shall present for redemption or sale an the prevailing market any securities or obligations so purchased as an investment of moneys in a given fund whenever it shall be necessary to do so in order to provide moneys to meet any required payment or transfer from such fund. The Town shall have no obligation to make any investment or reinvestment hereunder, unless any moneys on hand and accounted for in any one account exceeds $5,000 and at least $5,000 therein will, not be needed for a period of not less than sixty (60} days. In such event the Town shall invest or reinvest not less than substantially all of the amount which will not be needed during such sixty (60) day period, except far any moneys on deposit in an interest bearing account in a Commercial Bank, without regard to whether such moneys are evidenced by a certificate of deposit or otherwise, pursuant to this Section 6B and Section 6D hereof; but the Town is not required to invest, or so to invest in such a manner, any moneys accounted for hereunder if any such investment would contravene the covenant concerning arbitrage in Section 8U hereof. C. No Liability for Losses Incurred in Performing Terms of Ordinance. Neither the Town nar any officer of the Town shall be liable or responsible for any loss resulting from any investment or reinvestment made in accordance with this Ordinance. D. Character of Funds. The moneys in any fund herein authorized shah, consist of lawful money of the United States or investments permitted by Section 6B hereof or both such money and such investments. Moneys deposited in a demand or time deposit account in or evidenced by a certificate of deposit of a Commercial Bank pursuant to Sections GA and 6B hereof, appropriately secured according to the laws of the State, shall be deemed lawful money of the united States. -35- E ~~Accelerated Payments Optinal. Nothing contained he~in prevents the accumulation in any fund herein designated of any monetary requirements at a faster rate than the rate or minimum rate, as the case may be, provided therefor, but no payment shall be so accelerated if such acceleration shall cause a default in the payment of any obligation of the Town pertaining to the Pledged Revenues. Nothing herein contained requires in connection with the Pledged Revenues received in any Fiscal Year the accumulation in any fund or account for the payment in the Comparable Bond Year of Debt Service - Requirements due in connection with any series of warrants, bonds or other securities payable from the Pledged Revenues and heretofore, herein ar hereafter authorized, in excess of such Debt Service Requirements due in such Comparable Bond Year, or in excess of any reserves required to be accumulated and maintained therefor, and of any existing deficiencies, and payable from such fund or account, as the case may be, except as may be otherwise provided herein. Section 7. Priorities; Liens; Issuance of Additional Bonds and Additional Warrants. A. First Lien on Pledged Land Transfer Tax Revenues; Second Lien on Fledged Sales Tax Revenues. Except as expressly provided in this Ordinance with respect to the issuance of Additional Parity Warrants, Additional Parity General Obligation Bonds, Parity Securities and Subordinate Securities and • subject to the prior and superior rights of Prior General Obligation Bonds to the Pledged Sales Tax Revenues, the Pledged Revenues shall be and hereby are irrevocably assigned, pledged and set aside to pay the Debt Service Requirements of the Warrants in anticipation of the collection of the P1ec~ged Revenues . The Warrants constitute an irrevocable and first lien (but not necessarily an exclusive first lien) upon the Pledged Land Transfer Tax Revenues. The Warrants are also equitably and ratably secured by a lien on the Pledged Sales Tax Revenues, but the Warrants, in accordance with the requirements of the Prior Ordinances, only Constitute an irrevocable and second and subordinate lien (but not necessarily an eXClu51VE second lien) upon the Pledged Sales Tax Revenues, such Lien being second and subordinate to the lien of the -36- 4 4 Outstanding Superior General Obligation Bonds. In connection~ith the Pledged Sales Tax Revenues and as required by the Prior Ordinances, the Tawn shall fully provide for the Debt Service Requirements of the Outstanding Superior General Dbligation Bonds in any Fiscal Year and, only after such provision, may use such excess Pledged Sales Tax Revenues, if necessary, far the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity SECUrities, by transferring such excess Pledged Sales Tax Revenues to the Principal and Interest Fund and the Reserve Fund as set forth in Sections 5C and 5D hereof but only to the extent that Pledged Lana Transfer Tax Revenues are insufficient for that purpose. Such Warrants, any Additional Parity Warrants and any other Parity Securities hereafter authorized to be issued and from time to time Outstanding are equitably and ratably secured by a lien an the Pledged Revenues and shall not be entitled to any priority one over the other in the application of the Pledged Revenues regardless of the time or times of the issuance of the Warrants, any Additional Parity Warrants and any other Parity Securities, it being the intention of the Town Council that there shall be no priority among the Warrants, any Additional Parity Warrants and any other Parity Securities, regardless of the fact that they may be actually issued and delivered at different times. B. Issuance of Parity Warrants. Nothing herein, subject to the " limitations stated in Sections 7l and 7J hereof, prevents the issuance by the Town of Additional Parity Warrants or other additional Parity Securities payable from the Pledged Revenues and constituting a lien on the Pledged Revenues an a parity with, but not prior ar superior ta, the lien thereon of the Warrants, or prevents the issuance of warrants or other securities refunding all ar a part of the Warrants, except as provided in Sections 7H through 7J hereof; but before any such Additional Parity Warrants or other additional Parity Securities are authorized ar actually issued (excluding (i} any parity refunding securities refunding the Warrants, (ii} any Parity Securities refunding Additional Parity Warrants or additional Parity Securities, and (iii) any Subordinate Securities as permitted in Section 7F hereof) the following provisions must first be satisfied: -37- (~, Absence of Default. At t~ time of the adoption of ~..e supplemental ordinance or other instrument authorizing the issuance of the Additional Parity Warrants as provided in Section 7J hereof, the Town shall not be in default in making any payments required by Section S hereof. {2} Historic Revenues Test. The Pledged Land Transfer Tax Revenues, as certified by an Independent Accountant, derived in the last complete Fiscal Year immediately preceding the date of the issuance of such Additional Farity Warrants or other Parity Securities, shall have been sufficient to pay an amount at least equal to 135 of the sum derived by adding the Average Annual Debt Service for the Outstanding Warrants to the Average Axinual Debt Service for each and every other issue of Outstanding Additional Parity Warrants or other Parity Securities, plus the Average Annual Debt Service requirements for the Additional Parity Warrants or other Parity Securities proposed to be issued. {3} Adequate Reserves. The proceedings under which any such Additional Parity Warrants or other additional Parity Securities are issued must provide for the deposits of moneys to the Reserve Fund from any source legally available to the Town, and contain a covenant by the Town to maintain the Reserve Fund, in an amount at least equal to the Average Annual Debt Service of the Additional Parity Warrants or other additional Parity Securities, which amount shall be in addition to the amounts required to be maintained in the Reserve Fund with respect to the Warrants or any other Additional Parity Warrants or additional Parity Securities issued prior to the proposed Parity Securities. {4} Authorized Purposes. The Additional Parity Warrants or other additional Parity Securities are issued solely for the purpose of paying the cost of projects of the Town consisting of the acquisition of real property for parks, recreational. open space or other similar purposes. C. Issuance of Superior Bonds. Nothing herein prevents the issuance by the Town of Additional Parity General Obligation Bonds payable from the Pledged Sales Tax Revenues and constituting a lien on Pledged Sales Tax Revenues on a parity with the Prior General -38- ~ ~ ~ Obl ig~ .an Bands and superior to lien thereon of the Warm Sts and Additional Parity Warrants, or prevents the issuance of Additional Parity General Obligation Bands refunding alI or part of the Superior General Obligation Bonds; but before any such Additianal Parity General Obligation Bonds are issued (excluding (i} any general obligation bands refunding Prior General Obl igat ion Bonds , ( i i } any general obligation bonds refunding Additional Parity General Obligation Bonds, (iii) any Subordinate Securities as permitted in Section 7F•hereof, and (iv} the Additional Parity General Obligation Bonds authorized to be issued by the electors of the Town on November 20, 1979, in a principal amount of not to exceed $7,OOO,Q00, which bonds may be issued in one ar more series} the following provisions must first be satisfied: (1} Absence of Default. At the time of the adoption of the ordinance or other instrument authorizing the issuance of the Additianal Parity General Obligation Bonds as provided in Section 7J hereof, the Town shall not be in default in making any payments required by Section 5 hereof. (2} Historic Revenues Test -- Pledged Sales Tax Revenues. The Pledged Sales Tax Revenues as certified by an Independant Accountant, derived in the last complete Fiscal Year immediately preceding the date of the issuance of such Additional Parity General Obligation Bonds shall have been sufficient to pay an amount at Least equal to 135 of the sum derived by adding the Average Annual Debt Service for the Outstanding Frior General Obligation Bonds to the Average Annual Debt Service for each and every other issue of Outstanding Additional Parity General Obligation Bonds plus the Average Annual Debt Service requirements €or the Additional Parity General Obligation Bonds proposed to be issued. {3) Historic Revenues Test - Pledged Land Transfer Tax. The Pledged Land Transfer Tax Revenues, any other revenues credited to the Land Transfer Tax Fund and legally available for the purpose of providing far the Debt Service Requirements o€ the Warrants and Additional Parity Warrants and any Pledged Sales Tax Revenues in excess of the 135$ coverage requirement set forth in Section 7C(2} hereof, as certified by an Independent Accountant, derived in the last -39- . complC"~ Fiscal Year immediately ~ ceding the date of issua~~ of such Additional Parity General Obligation Bonds shall have been sufficient to pay an amount at least equal to 135$ of the sum derived by adding the Average Annual Debt Service for the Outstanding Warrants to the Average Annual Debt Service for each and every other issue of Outstanding Additional Parity Warrants ar other Outstanding Parity Securities. D. Reduction of Annual Requirements. The respective Annual Debt Service Requirements set forth in Sections 7B and 7C hereof (including as such a requirement, the amount of any prior redemption premiums dui on any Redemption Date as of which the Town shall have exercised or shall have obligated itself to exercise its prior redemption option by a ca11 of bonds or warrants for redemption) shall be reduced to the extent such Debt Service Requirements are scheduled to be paid in each of the respective Bond Years with moneys held in trust or in escrow for that purpose by any Trust Bank located within or without the State, including the known minimum yield from any investment of such moneys in Federal Securities and bank deposits, including any certificate of deposit. E. Certification of Revenues. In the case of the computation of the revenue tests provided in Sections 7B(2), 7C(2) and 7C{3) hereof, and when adjusted in the manner provided in Section 7D, the specified and required written certifications by the Independent Accountant that Such annual revenues are sufficient to pay such amounts as provided in Sections 7B(2), 7C(2) and 7C(3) hereof shall be conclusively presumed to be accurate in determining the right of the Town to authorize, issue, sell and deliver P.dditional Parity Warrants or other additional Parity Securities on a parity with the Warrants or Additional Parity General Obligation Bonds as Superior Bonds. F. Subordinate Securities Permitted. Nothing herein, subject to the limitations stated in Sections 7T and 7J hereof, prevents the Town from issuing additional warrants, additional general obligation bands or other additional securities far any lawful purpose payable from the Pledged Revenues and having a lien thereon subordinate, inferior and junior to the lien thereon of the Warrants. G, Superior Securities Prohibited, With Exception. Except as provided in Section 7C hereof, authorizing the issuance of Additional -40- ~- t f Parit~General Obligation Bonds, 'nothing herein permits the 'own to issue additional warrants, additional bonds or other additional securities payable from the Pledged Revenues and having a lien thereon prior and superior to the lien thereon of the Warrants. H. Refunding Warrants or Bonds. At any time after the Warrants, or any part thereof, are issued and remain Outstanding, if the Town Council shall find it desirable to refund any Outstanding Warrants, Outstanding Superior General Jbligation Bonds, or other Outstanding sec unities'payable from and constituting a lien upon any Pledged Land Transfer Tax Revenues and any Sales Tax Revenues, such Warrants, Superior General Obligation Bonds or other securities, or any part thereof, may be refunded regardless of whether the priority of the lien for the payment of the refunding securities on the Pledged Revenues is different from the priority of the lien for the payment of the refunded securities (except as provided in Section 7G}, provided that the issuance of any such refunding warrants or other refunding securities (but not general obligation bonds or refunding Superior General Dbligation Bonds) shall be subject to the following additional requirements and conditions: (1) Surrender for Payment. The warrants or other securities to be refunded, at the time or times of their required surrender for payment on refunding, shall either then mature or shall be then callable for prior redemption at the Town's option upon proper call, unless the Holder or Holders of all such Warrants or securities consent to such surrender and payment. (2} Partial Refundings. In the event of a refunding of less than all of the Outstanding Warrants or less than all of the Outstanding securities of a particular issue thereof, the refunding warrants or refunding securities issued pursuant to this Section 7H shall enjoy complete equality of lien upon the Pledged Revenues with the unrefunded portion of the Warrants or unrefunded portion of any other Outstanding securities. In addition, the Holder or Holders of such refunding warrants or refunding securities shall be subrogated to, have, and enjoy all of the rights and privileges previously had and enjoyed by the Holder or Holders of the Warrants or securities refunded thereby. -41-- 4 ~ • {3) Limitations Upon Refundings. Any refunding warrants ar refunding securities payable from any Pledged Revenues shall be issued with such details as the Town may by ordinance or other instrument provide, subject to the provisions of Sections 7I and 7J hereof, and subject to the inclusion of the applicable rights and privileges designated in Section 7H(2), but without any impairment of any contractual obligation imposed upon the Town by any proceedings authorizing the issuance of any unrefunded portion of the Outstanding Warrants or any unrefunded portion of other Outstanding securities. (4) Protection of Warrants or Additional Warrants Not Refunded. If only a part of the Outstanding Warrants or other Outstanding securities of any issue ar issues payable from the Pledged Revenues is to be refunded, then such part of said securities may not be refunded without the consent of the Holder or Holders of the unrefunded portion of such securities, unless: (a) Requirements Not Increased. For the period of time up to and including the last maturity date or last Redemption Date, if any, whichever is later, of the Outstanding unrefunded warrants or of any Outstanding unrefunded securities, the refunding warrants or refunding securities do not in any Bond Year cause the aggregate principal and interest due on such refunding warrants or refunding securities and the Outstanding unrefunded Warrants and any Outstanding unrefunded securities to exceed the aggregate principal and interest which would have been due in any, such Bond Year but for the issuance of the refunding warrants or refunding securities, and unless the lien of the refunding warrants or refunding securities on the Pledged Revenues is not raised to a higher priority than the lien thereon of the Warrants or securities refunded thereby; or (b) Subordinate Lien. The lien on any Pledged Revenues for the payment of the refunding warrants or refunding securities is subordinate to each such lien for the payment of any Warrants or securities not refunded; or (c) Default and Coverage Test. The refunding warrants or refunding securities are issued in compliance with the Pledged Land Transfer Tax Revenue coverage requirements and the Reserve -42- t t • ~ ~~ ~ Fund Requirements of Section 7B hereof and the requirement of Section 7B hereof with respect to certification of revenues is met, but excluding from any computation thereunder the securities to be refunded and redeemed and which shall forthwith upon the issuance of the refunding securities be no longer Outstanding. ~. Payment Dates of Additional Warrants, Any P_dditianal Parity or subordinate Warrants or other additional Farity or Subordinate Securities (including, without limitation, any funding ar refunding securities and subordinate additional general obligation bonds) issued in compliance with the terms hereof shall bear interest payable semiannually on the first days of February and August in each year, but the first interest payment date may be far interest accruing far any period not in excess in the aggregate of one year; and such additional securities shall mature on February 1 in the year or years designated by the Town Council during the term of the additional warrants or other additional securities. This provision shall not apply to the Additional Parity General Obligation Bonds, J. Supplemental Ordinances. Additional warrants or other additional securities payable from any Pledged Revenues shall be issued only after authorization thereof by ordinance, supplemental ordinance ar other instrument of the Town Council stating the purpose or purposes of the issuance of such additional securities, directing the application of the proceeds thereof to such purpose or purposes, directing the execution thereof, and fixing and determining the date, principal amount, maturity or maturities, designation and numbers thereof, the maximum rate or rates of interest to be borne thereby, any prior redemption privileges of the Town with respect thereto, and other provisions thereof in accordance with this Ordinance. All additional securities shall bear such date, shall bear such numbers and series designation, letters or symbols prefixed to their numbers distinguishing them from each other security issued ar to be issued, shall be payable at such place or places, may be subject to redemption prior to maturity on such terms and conditions, as may be provided, and shall bear interest at such rate or at such different or varying rates per annum, all as may be fixed by ordinance, instrument ar other document of the Town Council. -43- 4 ~- • Se`ctian 8. Covenants. The Town hereby particularly covenants and agrees with the Holders of the Warrants and coupons pertaining makes provisions which sha11 be a part Holders, which covenants and provision continuously until all of the Warrants been fully paid and discharged, to the that: thereto from time to time, and of its contract with such s shall be kept by the Town and the interest thereon, have effect and with the purpose A. Amendment of Ordinance No. 26 and Ordinance No. 11; Continuance and Collection of Taxes. Ordinance No. 26 and Ordinance No. ll are now in full force and effect and have not been repealed or amended, except that Ordinance Na. 11 has been amended by Ordinance No. 8, Series of 1977, and by Ordinance No. 9, Series of 1979 and except that Ordinance No. 26 has been amended by Ordinance No. 5, Series of 1980, introduced an the same day as this Ordinance. The Town will not repeal ar amend Ordinance No. 26 or Ordinance No. 11 in any manner which would diminish the Pledged Land Transfer Tax Revenue or the Pledged Sales Tax Revenue security far the Warrants, including the amendment of Section 5 of Ordinance No. 26 to provide for additional Transfers as Exempt Transfers. The Town will continue to levy, impose, administer, enforce and collect the Land Transfer Tax on all Transfers of Real Property in the Tawn except Exempt Transfers in accordance with Ordinance No. 25, without reduction in the amount of the Land Transfer Tax as set forth in Section 4 of Ordinance No. 26. The Town wi11 also continue to levy, impose, administer, enforce and collect the Sales Tax on the sale of tangible personal property at retail and the furnishing of services within the Town in accordance with Ordinance No. 11 without reduction in the amount of the Sales Tax as set forth in Section 5 of Ordinance No. ll. The Town shall maintain the Land Transfer Tax Fund as a fund of the Town separate and distinct from all other funds of the Town and shall place the proceeds of the Land Transfer Tax therein and, as set forth in Section 9 of Ordinance No. 26, said fund sha11 be subject to appropriation only for acquisition of real property for parks, recreation, open space ar similar purposes. -44-- 4 4 The Town shall maintain the Capital Improvements and Open Space Fund as a fund of the Town separate and distinct from all other funds of the Town and shall place the Pledged Sales Tax Revenues therein and, as set forth in Ordinance No. 11, said Fund shall be subject to appropriation only for real estate acquisition and for the acquisition, construction and equipping of buildings and facilities of the Town. The foregoing covenants are subject to compliance by the Town with any legislation of the United States or the State or any regulation or.. other action taken by the federal.-government or any State agency or any political subdivision of the State pursuant to such legislation, in the exercise of the police power thereof for the public welfare, which legislation, regulation ar action applies to the Town as a Colorado home rule town and limits or otherwise inhibits the amount of such tax revenues due to the Town, All of the Pledged Revenues resulting from the imposition and collection of the Land Transfer Tax and the Sales Tax shall be subject to the payment of the Debt Service Requirements of all securities payable from the Pledged Revenues, including reserves therefor, as provided herein or in any instrument supplemental or amendatory hereto. B. Defense of Legality of Pledged Revenues; Application of Proceeds of Project; Use of Proceeds of Land Transfer Tax. There is not pending or threatened any suit, action or proceeding against or affecting the Town before or by any court, arbitrator, administrative agency or other governmental authority which affects the validity or legality of this Ordinance, Ordinance Nos. 26 and ll, ar the imposition and collection of the Land Transfer Tax or the Sales Tax, any of the Town's obligations under this Ordinance or any of the transactions contemplated by this Drdinance or Ordinance Nos. 26 and ll. The Town shall, to the extent permitted by law, defend the validity and legality of the Land Transfer Tax, the Sales Tax and Ordinance Nos. 26 and 11, and all amendments thereto against all claims, Suits and proceedings which would diminish or impair the Pledged Revenue security far the Warrants. Furthermore, the Town shall amend from time to time the provisions of Ordinance No. 26, -45- e t • l including without limitation provisions relating to Exempt Transfers, as necessary to prevent impairment of the Pledged Land Transfer Tax Revenues as required to meet the Debt Service Requirements of the Warrants when due. In the event that the Town sells, conveys, grants an easement across or otherwise encumbers the Project or any part thereof, the consideration received by the Town for the same shall be deposited in the Land Transfer Tax Fund and used in the manner set forth in this Section BB'and in Ordinance No. 26. Except for the granting of required easements ar the sale or..conveyance of the Proj ect or any part thereof tb other political subdivisions of the State for the purpose and in a manner consistent with the purposes set forth in Ordinance No. 26, no such sale or conveyance shall be made at a sales price which is less than the fair market value of such conveyance as determined and certified by an independent real estate appraiser. The Town shall apply the proceeds of the Land Transfer Tax solely to the payment of the Warrants, any Additional Parity Warrants and any other Parity Securities and the acquisitions of real property, other than the Project, for parks, recreation. open space and other similar purposes as required by Ordinance No. 26. Except as specified in this Ordinance, the Town has not assigned or pledged the Pledged Revenues in any manner which would diminish the security for payment of the Warrants. • C. Application of Net Project Revenues. In the event that the Town has Gross Project Revenues in any year, the Town shall segregate the Gross Project Revenues to a separate and distinct income fund which it shall create for the purpose of receiving the Gross Project Revenues, providing for the payment of Operation and Maintenance Expenses and administering the Net Project Revenues in accordance with this Section. At the end of any Fiscal Year, the Town shall deposit any and all Net Project Revenues remaining in that year to the Land Transfer Tax Fund. D. Performance of Duties. The Town, acting by and through its officers, or otherwise, shall faithfully and punctually perform, or cause to be performed, all duties with respect to the Pledged Revenues and the Project required by the Constitution and laws of the State, -46- • • ~ the Ch-arter and the various ordinances, resolutions and contracts of the Town, including, without limitation, the proper segregation of the proceeds of the Warrants and the Pledged Revenues and their application from time to time to the respective funds provided therefor . E. Costs of Warrant Issue and of Performance. Except as otherwise specifically provided herein, all costs and expenses incurred in connection with the issuance of the Warrants, payment of the Debt Strvice Requirements, or with the TOWn'S performance of or compliance with any covenant or agreement contained in this Ordinance, shall be paid exclusively (but only from the appropriate special fund in the manner authorized herein) from the proceeds of the Warrants, or from the Pledged Revenues, or from other legally available moneys, and in no event shall any of such costs ar expenses be required to be paid out of or charged to the general funds of the Town. F. Contractual Obligations. The Town will perform all contractual obligations undertaken by it under the Warrant Purchase Agreement with the Purchaser, as described in Section 4B hereof and any other agreements relating to the Warrants, the Pledged Revenues ar the Project . G. Further Assurances. At any and all times the Town shall, so far as it may be authorized by law, pass, make, do, execute, acknowledge, deliver, and file or record all and every such further instruments, acts, deeds, conveyances, assignments, transfers, other documents, and assurances as may be necessary or desirable for the better assuring, conveying, granting, assigning and confirming all and singular the rights, the Pledged Revenues and other funds and accounts hereby pledged or assigned, or intended so to be, ar which the Town may hereafter become bound to pledge or to assign, or as may be reasonable and required to carry out the purposes of this Drdinance. The Town, acting by and through its officers, or otherwise, shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Pledged Revenues and other funds and accounts pledged hereunder and all the rights of every Holder of any of the Warrants against all claims and demands of all Persons whomsoever. _q~_ 4 ~ ~ H ~ Conditions Precedent. U~ .~ the date of issuance of~,y of the Warrants, all conditions, acts and things required by the Constitution ar laws of the United States, the Constitution or laws of the State, the Charter, or this Ordinance, to exist, to have happened, and to have been performed precedent to or in the issuance of the Warrants shall exist, have happened and have been performed, and the Warrants, together with all other obligations of the Town, shall not contravene any debt or other limitation prescribed by the Constitution or laws of~the United States, the Constitution or laws of the State or the Charter, I. Efficient Operation and Maintenance. The Town shall at all times operate the Project properly and in a sound and economical manner. The Town shall maintain, preserve and keep the Project properly or cause the same so to be maintained, preserved, and kept, with the appurtenances and every part and parcel thereof in good condition, and shall from time to time make or cause to be made all necessary and proper replacements and renewals so that at all times the maintenance of the Project may be properly and advantageously conducted. All salaries, fees, wages and other compensation paid by the Town in connection with the maintenance and operation of the Project shall be reasonable and no more than would be paid by other municipal corporations for similar services. The Town shall include in its annual budgets and appropriations measures, amounts sufficient to pay for all municipal service so furnished, J. Records. The Town will keep proper books of record and account, separate and apart from all other records and accounts, showing complete and correct entries of all transactions relating to the funds established herein, and payments made from the Acquisition Fund , K. Rules, Regulations and Other Details. The Town, acting by and through its officers, shall establish and enforce reasonable rules and regulations governing the operation, care, repair, maintenance, management, control, use and services of the Project. The Town shall observe and perform all of the terms and conditions contained in this Ordinance and shall comply with all valid acts, rules, regulations, orders and directives of any legislative, executive, administrative or judicial body applicable to the Project or to the Town. .~~g_ t • • L` Payment of Governmentalt~..~arges. The Town shall pay or cause to be paid all taxes and assessments ar other municipal or governmental charges, if any, lawfully levied or assessed upon or in respect of the Project, or upon any part thereof, or upon any portion of the Pledged Revenues, when the same shall became due, and shall duly observe and comply with all valid requirements of any municipal or governmental authority relative to the Project, or any part thereof, except for any period during which the same are being contested in good faith by proper legal proceedings. The Town shall -• not create or suffer to be created any lien or charge upon the Project, or any part thereof, or upon the Pledged Revenues, except the pledge and lien created by this ordinance for the payment of the Debt Service Requirements due in connection with the Warrants, and except as herein otherwise permitted. The Town shall pay or cause to be discharged or shall make adequate provision to satisfy and to discharge, within ninety (90} days after the same shall become payable, all lawful claims and demands for labor, materials, supplies or other objects which, if unpaid, might by law become a lien upon the Project or any part thereof, or the Pledged Revenues; but nothing herein requires the Town to pay or to cause to be discharged or to make provision for any such tax, assessment. lien or charge, so long as the validity thereof is contested in good faith and by appropriate legal proceedings. M.. Protection of Security. The Town, its officers, agents and employees, shall not take any action in such manner or to Such extent as might prejudice the security for the payment of the Debt Service Requirements of the Warrants and any other securities payable from the Pledged Revenues according to the terms thereof. No contract shall be entered into nor any other action taken by which the rights o~ any Holder of any Warrant or other security payable from Pledged Revenues might be prejudicially and materially impaired or diminished. N. Accumulation of Interest Claims. In order to prevent any accumulation of coupons or claims for interest after maturity, the Town shall not directly or indirectly extend or assent to the extension of the time for the payment of any coupon or claim for interest on any of the Warrants or any other securities payable from ~- 4 9 -- ~• ~ Pledge Revenues; and the Town shr_1 not directly or indirec~ y be a party to or approve any arrangements for any such extension or for the purpose of keeping alive any of such coupons ar other claims for interest. If the time far the payment of any such coupons or of any other such installment of interest is extended in contravention of the foregoing provisions, such coupon or installment or installments of interest after such extension or arrangement shall not be entitled in case of default hereunder to the benefit or the security of this Ordinance, except upon the prior payment in full of the principal of all of the Warrants and any such securities or coupons the payment of which has not been extended. 0. Prompt Payment of Warrants. The Town shall promptly pay the Debt Service Requirements of every Warrant at the places, on the dates, and in the manner specified herein and in the Warrants and in the coupons thereto pertaining according to the true intent and meaning hereof, P. Use of Principal and Interest and Reserve Funds. The Principal and Interest Fund and the Reserve Fund shall be used solely and only, and the moneys credited to such accounts are hereby pledged, for the purpose of paying the Debt Service Requirements of the Warrants to their respective maturities or any Redemption Date or Redemption Dates on which the Town is obligated to redeem Warrants, subject to the provisions concerning surplus moneys in Section SD and Subject to Section 9 hereof. . Q, Additional Securities. The Town shall not hereafter issue any bonds or securities payable from Pledged Revenues other than the Warrants without compliance with the requirements with respect to the issuance of Additional Parity Warrants, Additional Parity General Obligation Bonds or other securities set forth herein. R. Other z,iens. Other than as provided herein, there are no liens or encumbrances of any nature whatsoever an or against the Project or any part thereof, or an or against the Pledged Revenues derived or to be tier ived . S. Disposal of Project Prohibited. Except as provided in Section $B hereof, neither all nor a substantial part of the Project shall be sold, mortgaged, pledged, encumbered, alienated or otherwise -50- ~ ~ ~ dispa... of, until all of the wad is have been paid in ~~._ as to all Debt Service Requirements, or unless provision has been made therefor, or until the Warrants have otherwise been redeemed, including, without limitation, the termination of the pledge as herein authorized. T. Surety Bonds. Each official or other person having custody of any Pledged Revenues or Gross Project Revenues, or responsible for their handling, sha11 be fully bonded at all times, which bond shall be conditioned upon the proper application of said moneys. .. U. Arbitrage Covenant. The.Town covenants with the Holders of the Warrants that it will make no use of proceeds of the Warrants at any time during the term thereof which, if such use had been reasonably expected on the date the Warrants are issued, would have caused the Warrants to be arbitrage bonds within the meaning of Section 103{c} of the Internal Revenue Code of 1954, as amended, unless, under any provision of law hereafter enacted, the interest paid on the Warrants {a) shall be excludable from the gross income of a recipient thereof for federal income tax purposes without regard to whether or not the Warrants are arbitrage bonds, or (b} shall be exempt from all income taxation. Section 9. Defeasance. When all Debt Service Requirements of the Warrants have been duly paid, the pledge and lien and all obligations hereunder shall thereby be discharged and the Warrants shall no longer be deemed to be Outstanding within the meaning of this Ordinance. There shall be deemed to be such due payment when the Town has placed in escrow or in trust with a Trust Bank located within or without the State, moneys or Federal Securities in an amount sufficient (including the known minimum yield available for such purpose from Federal Securities in which such amount wholly or in part may be initially invested) to meet all Debt Service Requirements of the Warrants, as the same become due to the final maturities of the Warrants or upon any Redemption Date as of which the Town shall have exercised or shall have obligated itself to exercise its prior redemption option by a call of Warrants for payment then. The Federal Securities shall become due prior to the respective times at which the proceeds thereof shall be needed, in ~-51- ~ • • accor~,~. ve with a schedule establti. ~ ~d and agreed upon bet. the Town and such bank at the time of the creation of the escrow or trust, or the Federal Securities shall be subject to redemption at the option of the holder thereof to assure such availability as sa needed to meet such schedule. Section IQ. Default Provisions and Remedies of Warranthalders. A. Events of Default. Each of the following events is hereby declared to be and to constitute an Event of Default: (1} Nonpayment of Principal or Premium. Payment of the principal of any of the Warrants, or any pr~ar redemption premium due in connection therewith, or both, is not made when the same becomes due and payable, either at maturity or by proceedings for prior redemption, ar otherwise; (2) Nonpayment of Interest. Payment of any installment of interest is not made when the same becomes due and payable or within thirty (34) days thereafter; (3) Incapable to Perform. The Tawn for any reason is, or is .rendered, incapable of fulfilling its obligations hereunder; (4) Nonperformance of Duties. The Town shall nave failed to carry out and to perform (or in good faith to begin the performance of) all acts and things lawfully required to be carried out ar to be performed by it under any contract relating to the Pledged Revenues, to the Project, or to all ar any combination thereof, or otherwise including, without limitation, this Ordinance, and such failure shall continue far sixty (60) days after receipt of notice from the Holders of 10~ in principal amount of the Warrants then Outstanding; (5) Appointment of Receiver. An order or decree is entered by a court of competent jurisdiction. with the consent or acquiescence of the Town, appointing a receiver or receivers for the Pledged Revenues and any other moneys subject to the lien to secure the payment of the Warrants, or if any order or decree, having been entered without the consent or acquiescence of the Town, is not vacated or discharged or stayed on appeal within sixty (60) days after entry; (6) Default of Any Provision. The Town makes any default in the due and punctual performance of any other of the representations, covenants, conditions, agreements and other provisions contained in -~52- ~~ ~ ~ -- ~ the Warrants or in this Ordinance .,.a its part to be performeL, and if such default continues for sixty (60) days after written notice, specifying such default and requiring the same to be remedied, is given to the Town by the Holders of 10~ in principal amount of the Warrants then Outstanding. B. Remedies for Defaults. Upon the happening and continuance of any of the Events of Default, as provided in Section l0A hereof, then and in every CdSe the Holder or Holders of not less than 10~ in principal amount of the Warrants then Outstanding, including, without limitation, a trustee or trustees.. therefor, may proceed against the Town and its agents, officers and employees to protect and to enforce the rights of any holder of Warrants or coupons under this Ordinance by mandamus or by other suit, action, or special proceedings in equity or at law, in any court of competent jurisdiction, either for the appointment of a receiver or an operating trustee or for the specific performance of any covenant or agreement contained herein or far any proper legal or equitable remedy as such Holder or Holders may deem most effectual to protect and to enforce the rights aforesaid, or thereby to enjoin any act or thing which may be unlawful or in violation of any right of any Holder of any Warrant, or to require the Town to act as if it were the trustee of an expressed trust, or any combination of such remedies, or as otherwise may be authorized by any statute or other provision of law. AlI such proceedings at law or in . equity shall be instituted, had and maintained for the equal benefit of all Holders of the Warrants, any Parity Securities, and the coupons then Outstanding. Any receiver or operating trustee appointed in any proceedings to protect the rights of such Holders hereunder, the consent to any such appointment being hereby expressly granted by the Town, may collect, receive and apply all Pledged Revenues arising .._ "~ after the appointment of such receiver or operating trustee in the same manner as the Town itself might do. C. Rights and Privileges Cumulative. The failure of any Holder ._ of any Outstanding Warrant to proceed in any manner herein provided shall not relieve the Town, or any of its officers, agents or employees of any liability for failure to perform or carry out any duty, obligation or other commitment. Each right or privilege of any -53- a ~~ such \` der ( or trustee thereof) ~' in addition and is cum ive to any other right or privilege, and the exercise of any right or privilege by or on behalf of any Holder shall not be deemed a waiver of any other right or privilege thereof, Each Holder of any warrant shall be entitled to all of the privileges, rights and remedies provided or permitted in this Ordinance and as otherwise provided or permitted by law or in equity or by other statutes, except as provided in Section 12A and 12B hereof, and subject to the applicable provisions concerning the Pledged Revenues and the proceeds of the Warrants. Nothing herein affects. or impairs the right of any Holder of any Warrant to enforce the payment of the Debt Service Requirements due in connection with his Warrant or the obligation of the Town to pay the Debt Service Requirements of each Warrant to the Holder thereof at the time and the place expressed in such Warrant and in the appurtenant coupons. D. Duties Upon Defaults. Upon the happening of any of the Events of Default as provided in Section l0A hereof, the Town, in addition, wi11 do and perform all proper acts on behalf of and for the Holders of the Outstanding Warrants and caupans pertaining thereto to protect and to preserve the security created far the payment of their Warrants and coupons and to insure the payment of the Dept Service Requirements promptly as the same become due. During any period of default, so long as any of the Warrants or coupons, as to any Debt _ Service Requirements, are Outstanding, except to the extent it may be unlawful to do so, ali Pledged Revenues sha11 be paid into the _ Principal and Interest Fund, or, in the event of securities hereafter issued and Outstanding during such periad of time on a parity with the Warrants, sha11 be paid into the Principal and Interest Fund for all Parity Securities, including the Warrants, on an equitable and prorated basis, and used for the purposes therein provided. If the Town fails or ref uses to proceed as in this Section provided, the Holder or Folders of not less than 10$ in principal amount of the Warrants then Outstanding, after demand in writing, may proceed to protect and to enforce the rights of the Holders of the Warrants as hereinabove provided; and to that end any such Holders of Outstanding Warrants shall be subrogated to all rights of the Town under any -54- ~ • • ~~ ~_ agreem t ar contract involving t Pledged Revenues enter.. ~nto prior to the effective date of this Ordinance or thereafter while any of the Warrants are Outstanding. Nothing herein requires the 'own to proceed as provided herein if it determines in good faith and without any abuse of its discretion that such action is likely to affect materially and prejudicially the Holders of the Outstanding Warrants and any Outstanding Parity Securities. E. Evidence of Securityholders, Any request, consent or other instrument which this Ordinance may require or may permit to be signed. and to be executed by the Holder of any Warrants or other securities may be in one instrument or more than one instrument of similar tenor and shall be signed or may be executed by each Holder in person or by his attorney appointed in writing. Proof of the execution of any such Instrument or of any instrument appointing any such attorney, or the holding by any Person of the securities or coupons pertaining thereto, shall. be sufficient for any purpose of this Ordinance (except as otherwise herein expressly provided) if made in the following manner: (1) Proof of Execution. The fact and the date of the execution by any Molder of any Warrants or other securities or his attorney of such instrument may be proved by the certificate, which need not be acknowledged or verified, of any officer of a bank or trust company satisfactory to the Town Clerk or of any notary public or other officer authorized to take acknowledgments - o.f deeds to be recorded in the state in which he purports to act, that the individual signing such request or other instrument acknowledged to him the execution, duly sworn to before such notary public or other officer; the authority of the individual or individuals executing any such instrument on behalf of a corporate holder of any securities may be established without further proof -~ if such instrument is signed by an individual purporting to be the president or vice-president of such corporation with the corporate seal affixed and attested by an individual purporting to be its secretary or an assistant secretary; and the authority of any Person or Persons executing any such instrument in any fiduciary or representative capacity may be established without further _~~_ ~ ~ ~ • ' ~^ ~~ proof if such instrument is szgned by a Person or Persons purporting to act in such fiduciary or representative capacity; and (2) Proof of Holdings. The amount of Warrants or other securities transferable by delivery held by any Person executing any instrument as a holder of securities, and the numbers, date and other identification thereof, together with the date of his holding the securities, may be proved by a certificate which need not be"acknowledged or verified, in form satisfactory to the Town Clerk, executed by a member o~ a financial firm or by an officer of a bank or trust company, insurance company or financial corporation or other depository satisfactory to the Town Clerk, or by any notary public or other officer authorized to take acknowledgments of deeds to be recorded in the state in which he purports to act, showing at the date therein mentioned that such Person exhibited to such member, officer, notary public or other officer so authorized to take acknowledgments of deeds or had on deposit with such depository the securities described in such certificate; but the Town Clerk may nevertheless in his discretion require further or other proof in cases where he deems the same advisable. F. Warranty Upon Issuance of Warrants. Any of the warrants as herein provided, when duly executed and delivered for the purpose provided for in this Ordinance shall constitute a warranty by and an behalf of the Town for the benefit of each and every future Holder of any of the Warrants that the Warrants have been issued for a valuable consideration in full conformity with law. G. immunities of Purchaser. The Purchaser and any associate thereof are under no obligation to any Holder of the Warrants for any N action that they may or may not take or in respect of anything that they may or may not do by reason of any information contained in any reports or other documents received by them under the provisions of this Ordinance. The immunities and exemption from liability of the Purchaser and any associate thereof hereunder extend to their partners, directors, successors, assigns, employees and agents. -56- J ~ `~ Section 11. Amendment of Ordinance. A. Privilege of Amendments. This Ordinance may be amended or modified by ordinances or other instruments duly adopted by the Town Council, without receipt by it or any additional consideration, but with the written consent of the Holders of 56~ in aggregate principal amount of the Warrants and Outstanding at the time of the adoption of such amendatory ordinance or other instrument, including any Outstanding refunding securities as may be issued for the purpose of refunding any of the Warrants, provided that no such amendatory or modifying instrument shall permit» (1} Changing Payment. A change in the maturity or in the terms of redemption of the principal of any Outstanding Warrant or any installment of interest thereon, or (2} Reducing Return. A reduction in the principal amount of any Warrant, the rate of interest thereon, or any prior redemption premium payable in connection therewith, without the consent of the Holder of the Warrant; or (3} Prior Lien. Except as provided in Section 7C hereof, the creation of a lien upon or a pledge of revenues ranking prior to the lien or to the pledge created by this Ordinance; or (4} Modifying Amendment Terms. A reduction of the principal amount or percentages of Warrants, or any modification otherwise affecting the description of Warrants, or otherwise changing the consent of the Holders of Warrants, which may $e required herein for any amendment hereto; or (5) Priorities Between Warrants. The establishment of priorities as between Warrants issued and Outstanding under the provisions of this Ordinance; or (6) Partial Modification. Any modifications otherwise materially and prejudicially affecting the rights or privileges of the Holders of lass than all of the Warrants then Outstanding. Whenever the Town Council proposes to amend or modify this Ordinance under the provisions of this Section ll it shall give notice of the proposed amendment by publication at least one (1} time by one (1) publication, in The Vail Trail, Vail, Colorado, if then in business and publishing {and if not, then in a newspaper of general -57~- r ~^ b I Y circulation in the Town), and in the wily Bond Buyer, New Xork, New York, if then in business and publishing (and if not, then in a similar financial newspaper or journal published in New York, New York, as determined by the Town Council), such notice to be deemed complete upon the last such publication; and copies of such notice shall be mailed within thirty (30) days after such last publication to the Purchaser of the Warrants, or to any successor thereof known to the Town Clerk and to all such Holders of Warrants as have furnished their names and addresses to the Town Clerk pursuant to Section 3B(2) hereof. Such notice shall briefly set forth the nature of the proposed amendment and shall state that a cagy of the proposed amendatory ordinance or other instrument is on file in the office of the Tawn Clerk for public inspection. B. Time for Amendment. Whenever at any time within one year from the date of the cam pletion of the notice required to be given by Section 11A hereof there shall be filed in the office of the Town Clerk an instrument or instruments executed by the Holders of at least 66$ in aggregate principal amount of the Warrants then Outstanding, which instrument or instruments shall refer to the proposed amendatory ordinance or other instrument described in such notice and shall specifically consent to and approve the adoption of such ordinance or other instrument, thereupon, but not otherwise, the Town Council may adopt such amendatory ordinance or instrument and such ordinance or .instrument shall become effective. If the Holders of at least 66~ in aggregate principal amount of the Warrants then Outstanding, at the time of the adoption of such amendatory ordinance or instrument, or the predecessors in title of such Holders, shall have consented to and approved the adoption thereof as herein provided, no Holder of any Warrant whether or not such Holder shall have consented to or shall have revoked any consent as herein provided shall have any right ar interest to object to the adoption of such amendatory ordinance or other instrument or to object to any of the terms or provisions therein contained or to the operation thereof or to enjoin or restrain the Town from taking any action pursuant to the provisions thereof. Any consent given by the Holder of a Warrant pursuant to the provisions hereof shall be irrevocable far a period of six (6} months -58- •~ from the date of the completion of the notice above provided for and shall be conclusive and binding upon all future Holders of the same Warrant during such period. Such consent may be revoked at any time after six (6) months from the completion of such notice, by the Holder who gave such consent or by a successor in title, by filing notice of such revocation with the Town Clerk, but such revocation shall not be effective if the Holders of 66~ in aggregate principal amount of the Warrants Outstanding as herein provided, prior to the attempted revocation', shall have consented to and approved the amendatory instrument referred to in such revocation. C. Unanimous Consent. Notwithstanding anything in the foregoing provisions contained, the terms and the provisions of this Ordinance, or of any ordinance or other instrument amendatory thereof and the rights and the obligations of the Town and of the Holders of the Warrants and coupons thereunder may be modified or amended in any respect upon the adoption by the Town and upon the filing with the Town Clerk of an instrument to that effect and with the consent of the Holders of all the then Outstanding Warrants, such consent to be given in the manner provided in Section 11B hereof; and no notice to Holders of Warrants, either by mailing or by publication, shall be required as provided in Section 11A hereof, nor shall the time of consent be limited except as may be provided in such consent. D. Exclusion of Town's Warrants. At the time of any consent or of other action taken hereunder the Town shall furnish to the Town Clerk a certificate, upon which the Town Clerk may rely, describing alI Warrants to be excluded far the purpose of consent or of other action or of any calculation of Outstanding Warrants provided for hereunder, and, with respect to such excluded Warrants, the Town shall not be entitled or required with respect to such Warrants to give ar obtain any consent or to take any other action provided for hereunder. E. Notation on Warrants. Any of the Warrants delivered after the effective date of any action taken as provided in this Section I1, or Warrants Outstanding at the effective date of such action, may bear a notation thereon by endorsement or otherwise in form approved by the Town Council as to such action; and if any such Warrant so authenticated and delivered after such effective date does not bear -59- such notation, then upon demand of the Holder of any Warrant Outstanding at such effective date and upon presentation of his Warrant for such purpose at the principal office of the Town, suitable notation shall be made on such Warrant by the Tawn Clerk as to any such action. If the Town Council so determines, new warrants so modified as in the opinion of the Town Council to conform to such action shall be prepared, authenticated and delivered; and upon demand of the Holder of any Warrant then outstanding, shall be exchanged without cost to such Holder for Warrants then Outstanding upon surrender of such Outstanding Warrants with all unmatured coupons pertaining thereto. F. Proof of instruments and Warrants. The fact and date of execution of any instrument under the provisions of this Section ll, the amount and number of the Warrants held by any Person executing such instrument, and the date of his holding the same may be proved as provided by Section l0E hereof. Section l2. Miscellaneous. A. Character of Agreement. None of the covenants, agreements, representations, or warranties contained herein or in the Warrants, shall ever impose or shall be construed as imposing any liability, obligation, or charge against the Town {except for the special funds pledged therefor)- or against the general credit of the Town payable out of general funds or out of any funds derived from general property taxes . B. No Pledge of Property. The payment of the Warrants is not secured by an encumbrance, mortgage or other pledge of property of the Town except for the Pledged Revenues of the Town. No property of the Town, subject to such exception with respect to the Pledged Revenues pledged for the payment of the Warrants, shall be liable to be forfeited or taken in payment of the Warrants. C. Statute of Limitations. No action ar suit based upon any Warrant, coupon or other obligation of the Town shall be commenced after it is barred by any statute of limitations pertaining thereto. Any trust or fiduciary relationship between the Town and the Holder of any Warrant or coupon or the obligee regarding any such obligation shall be conclusively presumed to have been repudiated on the maturity -60- date or other due date thereof unless the Warrant or coupon is presented for payment or demand for payment of such other obligation is otherwise made before the expiration of the applicable limitation period. Any moneys from whatever source derived remaining in any account reserved, pledged or otherwise held for the payment of any such obligation, action or suit, the collection of which has been barred, shall revert to the Land Transfer Tax Fund, unless the Town Council shall otherwise provide by ordinance of the Town. Nothing herein prevents the payment of any such Warrant, coupon, or other obligation after an action or suit for its collection has been barred if the Town Council deems it in the best interests of the Town or the public so to da and orders such payment to be made. D. Delegated Duties, The officers of the Town are hereby authorized and directed to enter into such agreements and take all action necessary or appropriate to effectuate the provisions of this Ordinance and to comply with the requirements of law, including, without limitation: {1) Printing Warrants. The printing of the Warrants, including at the option of the Town Council the printing upon each such Warrant of a copy of the legal opinion of DeMuth, Kemp & Backus, bond counsel, duly certified by the Town Clerk; (2} Final Certificates. The execution of such certificates as may be reasonably required by the Purchaser, relating, inter al is , to (a) The signing of the Warrants; (b) The tenure and identity of the officials of the Town; (c} If in accordance with fact, the absence of litigation, pending or threatened, affecting the validity of the Warrants; (d) The delivery of the Warrants and the receipt of the Warrant purchase price; (e) The exemption of interest on the Warrants from federal income taxation; (f) The making of various statements, recitals, certifications and warranties provided in the form of Warrant set forth in this Ordinance; and --61- f ~~ (g) A statement concerning the disclosure of information provided in any Warrant offering brochure, preliminary official statement, official statement or offering circular for prospective buyers of the Warrants. (3) Information. The assembly and dissemination of financial and other information concerning the Town and the Warrants; (4) Official Statement or Offering Circular. 'The preparation of a Warrant offering brochure, preliminary official statement, official statement ,_ or offering circular, for the use of prospective buyers of the Warrants, including, without limitation, such use by the Purchaser and its associates, if any; and (5) Warrant Sale. The execution of the Warrants and the ' sale, issuance, and delivery of the Warrants to the Purchaser pursuant to the provisions of this Ordinance. E. Successors. Whenever herein the Town is named or is referred to, such provision shall be deemed to include any successors of the Town, whether so expressed ar not. All of the covenants, Stipulations, obligations and agreements by or on behalf of and other provisions for the benefit of the Town contained herein shall bind and inure to the benefit of any officer, board, district, commission, authority, agency, instrumentality or other person ar persons to whom or to which there shall be transferred by ar in accordance with law any right, power or duty of the Town or of its respective successors, if any, the possession of which is necessary or appropriate in order to comply with any such covenants, stipulations, obligations, agreements or other provisions hereof. F. Rights and Immunities. Except as herein otherwise expressly provided, nothing herein expressed or implied is intended or shall be construed to confer upon or to give to any Person, other than the Town, and the Holders from time to time of. the Warrants and the coupons thereunto pertaining, any right, remedy or claim under or by reason hereof or any covenant, condition or stipulation hereof. All the covenants, stipulations, promises and agreements herein contained by and on behalf of the Town shall be for the sale and exclusive ~-62- • • s . ~ ~_ benefit of the Town, and any Holder of any of the Warrants and the coupons thereunto pertaining. No recourse shall be had for the payment of the Debt Service Requirements of the Warrants or for any claim based thereon or otherwise upon this Ordinance authorizing their issuance or any other ordinance or instrument pertaining thereto, against any individual member, or any officer or other agent of the Town, past, present or future, either directly or indirectly through the Town, or otherwise, whether by-virtue of any constitution, statute or rule of law, Charter provision or by the enforcement of any penalty or otherwise, all such liability, if any, being by the acceptance of the Warrants and as a part of the consideration of their issuance specially waived and released. G. Ratification. All action heretofore taken (not inconsistent with the provisions of this Ordinance} by the Town or its officers, and otherwise by the Town directed: (1) Project. Toward the Project, and (~} Warrants. Toward the sale and delivery of the Warrants for that purpose, be, and the same hereby is, ratified, approved and confirmed. H. Facsimile Signatures. Pursuant to the Uniform Facsimile Signature of Public Officials Act, part 1 of article SS of title 11, Colorado Revised Statutes 1973, as amended, the Mayor and the Town clerk shall forthwith, and in any event prior to the time the Warrants are delivered to the Purchaser thereof, file with the Colorado Secretary of State their manual signatures certified by them under oath, using a suitable Facsimile Signature Certificate for said purpose. I. Ordinance Trrepealable. This Ordinance is, and shall constitute, a legislative measure of the Town and after any of the Warrants are issued, this Ordinance shall constitute an irrevocable contract between the Town and the Holder or Holders of the Warrants; and this Ordinance. subject to the provisions of Sections 9 and 11 hereof, Tf any Warrants are in fact issued, shall be and shall remain Trrepealable until the Warrants, as to all Debt Service Requirements, shall be fully paid, cancelled and discharged, as herein provided. -63- ' ~ - ~~ J. Repealer. All resolutions, bylaws, orders, and other instruments, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed to revive any resolution, bylaws, order, or other instrument, or part thereof, heretofore repealed. K. Severability. If any section, subsection, paragraph, clause or other provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability thereof shall not affect any of the remaining sections, subsections, paragraphs, clauses or provisions.of this Ordinance. L. Public Hearing. A public hearing on this proposed Ordinance shall be held by the Town Council at 7:30 p.m. on Friday, January l8, 1980, at the Vail Municipal Building, Vail, Colorado, and it is hereby ordered that notice of said hearing be given as required by law. INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONCE IN FULL THIS BTH DAY OF JANUARY, I9$0. TOWN OF VA IL, COLORADO By (TOWN ) (5EAL) Attest: Town Cler k Mayo r PASSED ON SECOND READING, ADOPTED, ENACTED, APPROVED AND ORDERED PUBLISHED ONCE IN FULL THIS 18TH DAY OF JANUARY, 19$0. TOWN OF VA IL, COLORADD By (TOWN ) (SEAL) Attest: Town C1erK Mayor -64-- Council member motion, and the que said Qrdinance, the Council members Mayor: /`T ~/J~""J'Y~G~'~_ seconded the stion being upo~the passage on first reading of roll was called with the fallowing result: voting "Yes": Council members: Rodney E. Slifer Paula Palmateer John Donovan Thomas Steinberg Bill Wilto . Scott Hopman Ro n Todd Council members voting "No": -~~i. members of the Council present having voted in 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 publistaed once in full in The Vail Trail., a legal newspaper of general circulation within the Town of Vail, on January 11, 1980. Thereupon, after consideration of other business to come before the Council, the meeting was adjourned. Mayor Town of Vail, Colorado (TOWN) (SEAS) ATTEST: awn'~C1:er k Town of Va~.l, Colorado --65- ~. r• STATE OF COLORADO ) .A. } COUNTY OF EAGLE } ss. TOWN OF VAIL ) i • I, Colleen Kline, the Town Clerk of the Town of Vail, Eagle County, Colorado, da hereby certify that the attached copy of Ordinance No. 4, Series of 1980, regarding the issuance and sale of Town of Vail Land Transfer Tax Anticipaticn warrants, Series 1980A, in the principal amount of $5,350,000, 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 8th day of January, 1980; that said Ordinance was passed and adopted on second reading by the Town Council at a special meeting thereof 3 held at the Vail Municipal Building, the regular meeting place of the Town Council in the Town, on Friday, the 18th day of January, 1980; 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 69-70. I further certify that the foregoing pages constitute a true and correct copy of the proceedings of the Town Council at its regular meeting of January 8, 1980, and its special meeting of January 18, 1980, insofar as said proceedings relate to said Ordinance; that said proceedings 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 January, 1980. 3i Town Clerk Town of Vail, Colorado (TOWN ) (SEAL) -71- • `~ Q 6 O ~ n 7 ~ O ~ O (~ cb i ~ (~ Q ~ o' ° ° ~ x a ~ ~ o ~ ~ O [" - y ~ O ~, ~ D m ~t ~ a c ~~ ~ _ ~ r1 Q m 'O o '` a ~tX'1 ~ ° ~ Q m ~ Q .~ C ro ~ Q' n ~ .., ~ w ~ ~'!`' ...._... ~ ~~ I n ~ ~~ f ~~ ~ ~ ~o o ~~ Q O ~ ~ o 6 S.]. y n ~ ~ ~ ~O ~ ~ i ~ a ~ a ~ ~ L ~ cD m ~ Q ~ O ~ O Q (~ N C1 Q S ~r ~ ~ D ~~ ~ - p ~ p c ~ ` ~p ~ f ~ ~ C _ G', ~- < ~ ~ ~ ; m ~ ~` ~ ~ Q N r ~ ~ 4 ~ O f o D o ~ ~_ - Q ~ Q C ~ (,(} O ~ ~ m ~t ~ Q ~ ~ ~ c a ~ ~ ~ c a ~ _ m ', ^Q ~ N 3. L ~ ~ j Q ~ 0 • ~ EQQQ=.~o~~m ~ ~~3 Q O O ~ ~ 7 ~' C -~ ~ ~ ~ ~_ (~ y~ Q ~ y Q W D Q ~. iD n ui ~ Q ~ : ~ O?yQ~~'7fl~ gym} 3 g ocDO~,-~r~rocQ ~ T O QfQCD~--f~cCQ~ oQ~~Q~roo.oo Z .R~Q K o ~aQ"'~Q"~-Om 1 Q ~ T~ Q~.~ ~ ~~ ~ fl°~cu°Q~~-~ m a~'~~ ~o ~ ~ ~ ?~ m ~~cDc$~~y~~ ~. N ~ O ~y+~Q~ ~ Q y Q~ ~ ~ Q f ~ ~~06~~~~~ ~ ~,~,4mQro~o 0 ~ 3 ~~~~~~O~m' (D Q ~mD~~4~~Q ~ a ~~ ~-~o~~~°~~ ~ ~ ~ ~~~~Qa~~~ Q~Q°~°~o fl m ~~~~~3 ~ ~ ~-o~~mo~co~ ~ Q QQ]-"~ ~~~~ Q Q m~~aaaaom ~ O m 0 ~ O m 0 ~.._..~ 0 ~D 0 Z • a • 7 36 Tlie Vni7 Trni! ~ Jnllunrv l h l9NU 8r~ndes~-CAdmus Re4! EskoEe, Inc. +rk"" Splacializlnq M Fine Ploperlles rhraughouE rtte Area IN TOWN .~. Ilse Loc171kan EVaryane WpA19, But is lVevel AvDllabte: This two bedroom caruJanurrLni in the Gee Cfaek . PloxO Uurlding has gash rsewfy dRCpiOtnd !a mpkC ,I OS COmfpdah3e ps it is CanvenreM The unit boosts nor only und6rgrpund parking and GlflWIG but alsoyiewsllOm balconies OvenpOking Gorv Creek and Vail Mountain. Resenuy paced of only ............... ~ .5225000 Muaf Seal Besl Buy In Vaiil VAltrge Center D Butldmg IrCmBnpOJS EGCailpn Icl skiirvp CID50 10 bn5 with pulstonpmg [BMGI pOtanflpk. Beoulilulry and fully lurntsnetl .One Dadroom plus lair 2 bath condominlUm, wnih cathBa4a1 ceilings. }ueploce. and mews of Vad ViIIODe .......... . .... Std5400 MOUntaln .. .. .. .. ...... and VOII LulEUry, iocpllon and Alhletlc AntenBles: LislBd BXCIUSIVBIy In Our Ofllae DfaB of tft6 W11oving units at the new Vail Sga'L'1pnsNead. an athletic Bnvilonrrlent actors. including Indoor swlmmirlg pod, lenNS cdU't4 find lull healm spa f'7cildies. Relar in Me bungs. restaurant, find large Ipnby Outstanding vlew5 and locplbn 2 bedroom,.2 t9pih ¢.370 97. h .......... s258.fl00 3 bedroom, 3 baths 7.7{x1 sGl. h ......... -S325.000 4 bedlDOm, 4 harks 7.770 sq. tt . , ........5379.0171] Furnlsned 3 bedrOavft. 5 born. 1.770 sq. h .5375.13UU Gall Course cloths: Swa baWOOm two auto Tully lulrnshea third floor corKtOminium evadable at Veil's Ixestigl WS FOlllidge complex , . -......... S2pU.t)00 This E1lqulstle Polela Patch DuplaK octets the In VIeYI1 Arid Cpmlon'~ l'llmory uni12.40DSquor 3 bedrooms 3 burns: vaulted ceilings. sd 96Cpr1dpry Unlla 7gdp0 SquatB feel 2 bu......~ Ion: 2 horns and garage.......... : ~ , ..53 Impas~IGe Tp eeoh Inladocnl3n 2 bedroom, end antl, ngnt an crErek. Ipts or hvinp space ...51(1500D Volt Rbcquer CEUb: 7sv0 bearpoms, two baths. immauvwte and hBtluliful. PfnBnlhas include NII ROCatlat Club health lacndlRS Gore CrrBak & e A Taal 4agaln ~h I6rmS O~ .Gn bus lout ..:........ ,57$7,51x) Lodpa scum Un7! 37e: 13eauhful rvro bGCxaprrl, IYVBB halo Ina best of bcanons. omenilies incWtia rwlmmtng poD1 sauna. hoof desk swgchbbard. urltlelglaund parking. axCeplipnal rental HOMES OWNER Wlll CARRYf Eaqulslle Single Fdmily Hama; Just Oft 41'EOg16~Van s gGll COwsb and facing up Stony Cr6bk Vailyy UHCrs 2 OIXl square leaf of liVtng BpVCB InchxSrng d bEdrpans 2' halos. lamdyfoom ? ftreptaces sppobus Ilving loom plus a 2 car gIXOQE the GaeN yarn rdrw flower gardens truN create a dleom setting la any ramlEy .. . St9B.500 Bellyache Rldye: Luxurious harm ovanooxing New York Mounlotn trangc and Ilxr ennrG- Eagle Rrvel VahtSy, IpGa}6tl drl 5f:van aC[G8 GOrdbring IlOnal faE51 Ih6ina+n nOUSG tealUrES coot badfOOrT1s twee bDlhs. IDCUZb hU'a!Y SFla Clout hyrrag IOOfn r6Cfaollgn rDOrn Wr}r, liar B;xC~Pflonai VnctiEil d seppr016 gU6sl r.0U5G consists UI Inr6G DBdlaprns. Two autos, wOrMSrapp Una iwD hate stags terms avUIIOG6 10 QVEIhh E:d C4tVGrs Edgleyoll DudeA {Oath slaeEk tit unporauE€c-a DpporlunnY'2 20 squaw,frt.l f11us /Jl squarEfact of garay6; Upi]FSr oral-17ztC1 saunrc, lqd finished 3 rxwrAams 2 cUfr.y ler:plo[.r., u[wu unIL17gQ scxaon, 166! unbnrN,cU .., .., ... ;179 OOC COMMERCIAL PROPERTIES dkrsenesL Opponunlry~, wr~l1 auarJrsru;a elOtnrrxl ura~ wllh E:x[t.llrnl Ir,cUttrs+' arKF vase VEry a}ddrsCJe boy r,p,7 a= Un,r, for n E'eby wrnlCt Bridgf]e S1Fae1: i(LU '!luau tr i,t I[,t~ stlnplc beg rOLUIIfN, err Vrxl Vlkiage CeMef: Irns fddr,r r r,rnrn,Taal srucr, s in ~nhool lrr~t unrrc m,r rF+t.n nyr .KS w.rnarrurgt en f/GSf:l it k;Jrl:~frhl; rl.nr;vyrlr:lr. r.f:l ir'nt Iblr:n7iVl tar r:r fgnylOrr , X JI !{,i ry: SirlUrant u1 rl'}1 ;riarJ txGE:liL.nl rArcr, srdp:r xnB IUkc trans u,ralUd a, &l glrurti nc'sr OBlcn ltd ftUS IUrI,'t..CrK.+>:Iap 137 G57 REAL ESiA1E AFFD +:505/ 47G 74`dJ ~ , PROPERTY MANAGEMENT • • From Ynge 3S r ache al me w.rrems, irtclwrnv. wdngyt i i Im) Apv eccmwvlmron of reserves lOr l m taupn. au curls ann sbmated coats of m9 'n5 uanw pl Ina Wwranls; I survey,ng, eeprtet repiacemems. f,vl Any res¢Iras lOr ope re lip n, ' rr hl wnwn has ecnurd d. en tlur a. an lY t li~ l e W a r peClmn, hacal, dntr kgel perces', any e a'dinrenance. or repair Of the Prnlect o ee ec rv dlrOn mat figs pccvnld prwr r tlete nereer. antl lxpaepulwn COmmar,ced.p e'ILOVaI en the Gale Ol the warrants. cash al Irnenc,al, rOlessimel,enp gtn¢reebmalesantl Svl AnV altpwanGe ter t0ere0omptron0llM Warranls, Or the payment OI any lnter0st that acllpnppracMOin pmmencetl g yndp eO advice: nurger:Ores arty atlm atrarne. the•epn, , ,aien amended, r ar by whore Or the prv SECTION 4. Tne Tawn GOUnnlherebv hnd9, ~ 1^ pparanny, and Olner xpenses I p lawn Prier to end gyring the ecgmarhgn pe.Iad }Or fort AnY r caned IM acmuiarlwn o. ,mlprpuemenr ai env prgperhea dele•mrned one eerlarea that Inca ardrnanae ra y rb prgper Ipr Inv health. salary antl the pralecl, as may b0 delarmnwd by foe Town COUncd dOd alt wthothvr axpensn ea may DB L° err Nng the Prgeci or any compnelron [M+eol: ' wl~le eel ine Town of YBa Ond ine rOMbitanld thara0l. rtBfeasery or rnutlent ram Irpancmg nd cqurNtrOn OI Ina Prelec[, Or pew IDere01, erW i el Any Other grounp 0l llBAl udbitiiy not Ir naaee art [enlmLr INTRODUCED AEAOON FIRST READING ne placmgmmaaemP ,n publrcyse, Prawann Id rC9am89 for replecumem expeni0a ar for IFal aam.rrpa.Thix grdlnance Nr. b, sane, 01 1980. OI Ina Tqwn: when provitlea tot IM hPPAOYBb. ANO pRDEREG PUBLISHED ~sy t Or security OI prmLrppl d a Interest he s n one dearery el m0 wdrr0.la rs ONCE IN FULL.Ihrd Bln ddy Ol Jdpydry t98(L mi i o i mi n u b t wauanlaewrn9 aranar meawpiaiupn le>I prpinauce NO 11 Ordinance NO. ll. rat ng pn d a nancaa a e a publ c nerd attne+egular meehngoftnelow0aouncil p bP as ma town carnal may tletermino. Il cau pOna' move ppegetions i l p c Se^es of t91s. alma town apmonzed by the eleclOra cat the Tawn mSe Premher 25, 9Ta. ' 1 the Tawu pl YMr. Cptpratlp On the 5fn tleyol n intereal on demm~g dM p¢rtarmng la the aM an Y sup PlemanM d ame'gments tnerecl. i February. 1880, el 1.J0 m m I a MVnICI I Byae1 Ol the TOWq. p ~ n9 WBnenlsentlanyotnersecrxitres peyablo}rOm the Pletlged Rerenvas, or coon part of such 1281 Ortllnance NO. 26 Omrnanca Nq 26. 8ene5 Ot 1919, OI ine Tewn, adapted era TOWN OF VAIL . RPOnaV E-Slilpr mileae de_mdY be deNgnaled. re1121 Debl 3elYICE Requiramentg: my era tree pn JVHtl, 1919. by Ina Town CAprxii Cnblletl "An Ordlrwnce imposing a 1-dne Mayor prindglal, lnteresl pn,drW Brryprenaumadue Transrer Tav Upon the Tra~skr off lereats rn ATTEST: Cp{teen M-Klirte rn Cannecbon rth Ina redemption of tna Warranls. the Bvperbr C>BnOral OOhgahOn RCM p.Operry. Earmarking me praceetla Tnavelrom for the PumhaaO nl P°eVPrrp0ny10 Tawn Gerl ROMa, In¢ gdditioval Parity Warrants anb any be Used IOr Open Space. Recrealivnel w Parh PpblisROtl in The VSil Trail On ianuaeyll IgBO that secu+:trea payable from m0 Plpegea g Pwwses, Regyumgqlna CO{IBCIIOn of such Tea 1 h T AA n ' , - ---------- vrenn Bl drq herttpfOre aherealter lasuetl,il any. Or wch part of such securihas as may be e own Y t anager o. His Agerae, Ywlndnnrg Ne Tawn Manager tOEnter'rnto an ' -,,.ar+-- desigrgletl, as sOCn PrinmpaL imerevt antl premwmd peLpmO doe, Mrelirer five a ~N inter.GOyarnmental Contract wan Eayr! aa.nry for the aellaptral 0l the Ten rmpmed. m E Public Notice 61*ing land torte{Imam as set larch in 3ap r 9B hereof ar Otherwls8 xe pnrg Ge«ain TranascliPns Fromthe Taa Imposed Establishing PrpCetlu.es for OADINANG! k0. a (t31 Exara Of Oefe Nl: earn ar ma erranla etnled in Section 10 M1ere01. 'ACpuinrt9 d CCrrilicale pi ExemoptlOn: Eatablishlnq Penanlea fu Vrelationa 1 Imo 51Has °t 19W (Ill Exempt Transle rs'Ira rylprs lOwhiChmp Ortl,rence: Creation Ola trert On the Property AN Op pINANCE RELATING TO THE Land Transfer Tal apes nq apply as prontled T'ansrerrM for the Ampw,t vl me lax lln paid', Iq$UAN TE OF TOWN OF VAIL, WLpRAGO. L Nq RANSFER TA% ANTICIPATION '^ 3ectpn 5p} Ordinance Np. 28. 115! pde.al 8ecuntrea fills. uni}iratoa pf ru 5eding Fprtn Oetads In Relation i0 mp Foregoing." antl any sup Plaments e. w AARq NT S. SERIES aeA, GATED FEBRUARY 1 t98U. IN THE PflINCIPAI 'udeClednesa. notes.bontla orsrmrrar securgies h'ch are drracl Oblr ~[imaol, Or the principal a tlments tnereo} 129'outwanerrg Or Optslarrtlrng: when used AMOUNT OF Be.a50.g00. FOR THE PURPOSE ' Of AOpVIAING REAL PROPERTY TO A8 end Nleresr al ,cn obllgatrpna are ncpnOiapnMly gOVrnntvrttl by. the Unites Part°t'nca lu the Warrants-the Atltluronal Y ¢Warranls. Ina Sv perier Gertelsl '. USED OR OPEN SPACE. RECAFAT1o NAL $tElas et Ame,rca e obly9alion BOnas O • he. ees, oared ~ _OR PARK PVRPOGE3. BEII OflOAINED BY THE TOwry GOUNGIL [187 Fiscal Year: the Iwelve 1121 mentn6 Cmg on the llrstClay el Jan Wry of any ~ l tl d sec rhea of the Town arA as er any pd liralar date. alt the Werrant4 t'-.e Adtlrllpnal Parity Warrants the Superior Ge+mral 081 ak OF THE TOwry pF VAIL, GOLOPADO, THAT, en er year an endrnp qn the Marty first day of Occomo0r at syph Calendar roar or sucn ig on 8anas or am 9aLn ptne• seeurlltes payable m SECTION t, Drfxtalans and Gensiruellpn PIhe. Twelve n2l month peripq as ma Ir°m g wrrnle Ormond fiomma Pledpetl Pevanuos er ' A-OMalilene.ln lWSOrdinance ine lOllOwing terms nave Ina Idlowing respecnva mpaCings lime tptimpZre desrgnat[-0my ine Tawn( vnpl as the Fiscar Yoar of tna 70WU omerwisc parlalmng ,o the flrplact as tna Case ma c be. any man:.pr Ihere[olpre e tl T unless Ina cont0at nwnOl Clearly requires nil Crgss pr019tt Aevenuw: fat allimcam~ e. cule0 end tlel:vered e.4 at~etdlow9 ¢ omarwae: 111 Acqutalbpn Funtl: IPaI speclw Juno ayy. nom retca. Mea. Bala, ten alt a charges o any eombinalion Thereat IOr the e n 9: lal Ar,y warrant Addnrrnat PBrdy Warrenl. r red by Section SB here.01. a ervi eso pririlegos }umlan0d bv. wqn Orlrom Scpena General peligarren Bond o atnw (21 Atltlltronal Panty General Obl,galign tn0 V9¢ Of In0 Prolert: and Ibl all income pr ~ 'IV GdnCeitetl by the Town, by the Paying A e l th i th T BOnOl Bny genwel obligafun Dpntls al the Tawn payadvin whole Or rnpenlrom Pledgee omergam.dany, tram anyinvestment OlGrObs Pr tact Rerenyes. n . orp erw s0 on e owns bored, atM 9 before such tlete' Sales Taa Revenues, ragy8e alter the date hared, Ina CCPrddhee with the pravraians of lDlp Itel NolOer :man used ip can~pnclipn with nY cv arm. a y Warrants. any ocher 101 AnV Warrant, A¢muO.al Panty Warrant ar Superrw General Obligal'un Both heltl bye ald'nancp, Poor Ortlmentn.lne Ohaner Bnd the Gpns141urion and laws al tnB Bt0le, nevmga tlespNtetl secunlies,thaPpnbnmp099P95rdn end rnnaPpdrenlOwn Pr Of the deaignaled item. an bNra110f the Town: jcl qny Warrenl. Additional Parity Warrdnt anpntne Plengetl Sates Tax Aevenuaeaquel 11911ndOa ndenl ACmuntenn any certilre0 l B pe for General OOlkgaiipn SOntl or atlxr roar onepanlywith the llenlnerepn Olln0Pri0r d l O k G paubl c ace nMn ar any firm pf such cepumants dul ~rip d t t ~ r any Or the Tawn for me ' par ent ar ton a era b ryauon Bones and superrer or s e o Ilia Ilea Thereon dt Ina Wernnl9, y eme o pre he a d ereencmg ay each rntler In0 Iowa 01 tna State, p redemption a1 woven moo ys Feearel Secunhes Spflicienl to rrma[all pf IDs paYmml I81 Ptldllmnel Parity Warranls: an1Bwarrama of tnv town Isauetl after the as bemOr, pPOinletl and paitl ny the Town, wno(al g,m fact, iruapentlentaM neepndvrtnedpminat'ran re~uiremantspl mOprmGpalpl.tn¢mt¢reslOn a any prier re0em ptipn premiums due m pursaOnt tOarM inaLLprddrtcpwim Section7B 01 the TOwrt Or Ihp Town Cavncd, Ib}tlcea oat e LMnerlrpn wdn aVb Warrant ApoliOnar hereto. ' nave any wbsMnliel interest,tlaecierindireCl, an Ol too llea l th T parity Wwrema, Supenpr General Obligation i I41 Arerag0 Anrual bebr 30YWp0 qr the Warrants, Or Ina Superior Gl~aral Obllgatipn pvrn.eM [c)is not a s 0 e V cen~ectedwrth lneTOwnaaamembeY.officer Baru Or diner secvnry to the tlete pl metudng rany .etlemplnn tlate thereof anal! na.0 Bonn9. Orepv9n rs9ue of Panty Securiliea the pliyee0l ine Town EOrncil,bur woe mdY , therelOfprebcentlepositee rn 99crow arm !rust ' g9regate al all Debt Service Rear.rremenls l bere gu ady relakneew maa0 dnnu8l prwmllar r 8an119 qr 0n honk d 1 m T aTruat l3anl l0rmat va[posa ass rovidetl r ;exc uding any rpdemptron premmm9) due on ~ ne Warrants Or the Supenrr Germrat y s o recor s o own. e 12n} Land Maintenance antl Planning Fund'. m and requuM by Section 9 nereol' o Itll Any lost, apparennY nealrpy¢d, o Onligauon Bonds a any other glv0n rasp0 pf W city Sewnriesm quoanon lords good Years the spatial }antl cre0tpp by Settian SF herapl. [~U Laue Transrer Tax'. me land lransrer lax pnglrrlrv assn wa.ram AtltlitiOnal Panty Wdrmnl. BVperrprGeneral Oblrgetion LBOntl Or egmnrlg w;,+,tnp BOM Year m wnlcn both Mlabliahetl by Ordinance No. 26 upon ine T ' purer sec t the Town r uep p1 a in l vv ncip04ofend~b stanltre Wananta-or ln0 Supenar General Oollgerlon Banes qr the ranelW Of terears In goal Property in the TOVm, rn ar.cn perCenrege a set lank In wbntnMien lor which amrnerwarranl.bondor Omar seCV Uly shall nave Sven executep antl Parit~ 5acuriries drP first gaveble end antling Oro"sbrte9 N0. 28 or any supPlemenl or delivered purwanl r0 this Ortlinence. n a BOOtl Year in which Naiasl Olrne Oebl Ser ce Re euiremonts o^xclu ;{h g iqy dmenl Iherv0l. ~ a122}Lend TranslcrTax FUne.Ine Specrp l luritl (~) partly Securities' warrdnl9. pmtl9 p yebra r t Ian cd e aousa a +i ~.;:°y,,.,i., ar, nys pr: ~supcnc pprxnei i5r p neatetl y5ecnon eat Onsine.:c.. NO o ' prrcreasmm35a~a Trc+•m Tss ~ ` o h ~ ^~ ~ F y~ ~w bb ~ , I]~ 1'F6 iryw ~ , , ' abler gNfln Isauw Periry Sscuraba 'r am Ip tar o0pparty - - . g .. y :M~ :.. . ......: ..{=vsgr p, yhiN la JqO' • ~ I. ueat~wg•Paynge. dix14aB by rue rwmnal of su the TOwnaarnn wnerlNrar sax rnc~~ncii~~r~ apant of Me own la me paymenr of Ida Wa ~ SSj Bonn Yedr. Id 11!0 palpvw vl Thu ®^Y~ '3 21 Person'enY indlHtlual firm,partnernhip, I Ortlr nor nee, Ina 4welve 1121 months '. r g on ine lirsl day OI flecemaur of co e [247 Nel Prmlect Revenrwa: all Grose Prolecl Avvenyes r ins after ne dedynion of pprahOm COmparrv.awcerahpn.!war stock a550nntipn, Or body pohhc, antl the term y ee nd9rFra/pna entlmq on Ina Ihirk0lh - Operation eM Maintenance Expenws Includes ny trustee, recenar a signee. or s . ~y I NOyOmber a1 Ina r:0nt ertcceatlmg n0tenear yBdr SY01 OparatrOn any Mainreuauu E.pensas, A me ev0nl Thar the Tawn has a y Grose imilar rzynresentsiirp InerOOl o {gjj pledged Land Trarrsler Taa AevOnrtps, {8) Gepilal Improvements antl Open Spaco Praje cl Raven Uea. sucn s ble antl the gross receipts collected by me Town non Furor' the apaial land crear0d ey Aasalulipn No. p1 the Town BdOgtetl W the Tpwn re nee nary cunvm expana0a M tn0 70wrt, paid or aLCrueo, Or gperdting, rn0iuta;uir+g rM the Lartl Trensrer Tax. (ed)PlepgPe Rp:renues as Ord pt,di0nd me _ OvunOly January 8. 11180. into which me repaamg ine Prplerl ea may De determined by t pledged Land TranslerTaxflevenuvs,andone Pledged Salad Taz Rarenuea era m 60 ~ tlepmOetl, he Tawn aarrcOil ~apption, except asl miffieaer t Y bash subprtlirala aM junior t0 the Superor General Obligation Bonds, me Pletlgetl Salsa [T7 ChOdw. me Home Rule Cnader of Ina Town. approved bbyyrneelecrprsaltne Tpwnen rArttrett Jr ptnerwa:0 kmilN by law. wrlnmtt limduq lhegenerall~Y Ol Ina toregomg'. Taz Revenuea_ Fire Oeaignat00 term rryrrgtBOe sOpr„e d.everrces arq does not neceasar,ly September l2. tB72, antlhretlintheolllce oltnv lal Legal antl erheatl expenses of the mbreate v4 orenyporiron o-ether pan afaucD Cddddo Secretary Ot $lAIO nn September SS. 19 erious tlepanmeras pl the Town tlnOPily bl ~~llocable tp Ina t tl r tie 'nlheabsence of lvdnerqualdiration. (~81 FengcO Sema Tex NevCnueg' the 8 (r Commercial BBnN:nslaleor nalionalbanN q atlm m ialretmn of ma P Poe-halt OF the gr09C rednpts collected by 1M cast cempenY which is a memOOr 01 In0 FedOral pOpOx+t lryuranca Gorparelmn antl OI Iby Fitlellly bob and inaurence premwma apAen Mm ng W Ina Proiecl Or 0 red9pnably Tawn Irom its <% sales tax aulhpritetl by Ordimnce No. tt tlerotM r0 en0 speclecalry 1n0FetleralAeserw9ystem, whtcn hasacepital MsVrptus Oi Fl.ObO,gOgamwa, antl whian is { bra share pl apremrum of any dlanl¢t bond or pobCY Perlainin g to the Project: sw main Opy OwlmnceNO. rr fOrtne purpose Oir K+Ple estate ecquisllpn antl for me orated wroth me Unitas sums'ana sucn term m Icl Centractuer m,rea pral0ssio0ar acqu,salon, ratrucllOn and equppirq of mglcdea, witnpyl lrmtatien. any Trust 6anh. as herein aennaa. Servrdes, sAlerres.edmimshelwe eapenws.erW coats al mbw aPpeasmiry Iq Praecl. nyiltlirq antl lacil'diea Oi me Town. Ia6lwPiinripal arts mtecesl Faaa the special tisl epmwraplo Bpnd near: rn cpnppchon m n F CaI Y n B w) The r.paa mrened in the cnlmruan nl all Or env part of the GrOU PIpILet Aevprtyre; p d treated tly seraph se nrrapl I j ' vn S Onp yOfl•wnich erMS d BdL t B Y urn Fecal y9ar. Far example, Ipr ine Fisce] Tel AnyceslsalutilitY Servicesrurnralwtllp 711 Prior Gan r l obigallnn Bonds: the fallowing Series of Ge.nerai Oblr aoOn BOrMs vearp ga Lanpary,.7, tsar. the Compareblo BOntl Year Ipr me wArrenl9 me1',arect br me Town womerwse. OPerellon antl Malnreranca Expemes' N Ol me Town s~~earsyA earee pwmesr lava, rn me prginal mrnClpol Bmgpnl fur anoaecmber 1, 1986. and urea tin November 90 ,B85. epee nbt;rclpde Irl Any allawnnce lbr tleprecm[ron; sz.w9.ogg winch rs rcmndea senor Nowmbp 1, 1973:SenesSeprember 1.19i8.in psi eon of me Prptecr ml or any pan OI nip rytol me tea propene to he nag,ared wan me lmp;o,remems r g,t„rp sl oraeeue.mems~an~ Plrrae 71rrn m Page 37 ~ ' These superb luxury townhouses are situated on the fourteenth fairway aL.- EAG LE-VAT L This tour-plex contains the following exceptional ieaiures: -Splttl sal cabinets -Aedwootl docks a -Master benroom and bath -Ft,ll GE Kiltnen -Redwagtl 5lding -Vaulted ceilings .7rlen entry and hearths -Largo lamily room -2 180nsquare tool tiring area .~-Three batlrooms -Two faeplaces -yavec anvewa -Three and one-hell baths -Frye tool wide sm'rn.ays -Fully landscaped ONLY ONE UNIT LEF7 AT...$225,Ogp.Of7 Buell 6pner By, D & S EIV7ERPRISE5 Ce11 9AB-3787 Or Evenings 47fr1481 Or 9263251 Or write', Ppsl Orlrce Box 1885, va~f Colorado Bt65r Or InsPACt on Srte FAIRWAY TOWNHOUSES i r , ti, t. „~ The Vtei! Trni! - JnnuarY II. 1980 3 / ~~ IY~ ~1® REALTY OF VAIL, INC. QPEN SEVEN DAYS A WEEK ' 476-472f ., -. Each oflloe fe 1ndeDendentt~lyy - .. ~ . owned artd operated. ' aiY y 01mr WAlee prays Me tram AI PIMged ~ wefnnn Prlndptl Por Annum CauPOn Mmes rMp a lien NRfeun n„o SR Ne ISM plerWR Ot Iha pnawMef 110 AmWnSe Yeae .9 141,000 teat Inlenel RnlO a10% br nenerel Ohbpsllon apr4e~ the sera r0 113,000 1~3 830 • ontpngnebnneendAaanloc.l rttafsa lsp.lae tees a,ea t oeu9uwn sorb.. which eprwe ~ aPt a ~a em lot to tea 1 tre,all tees ~ °~ ~ a ew 1 e„ n lhHwn et the irelo ffi0 x x a:g Op ip ei eio the Town of YNt GapsdO, ZBa lO OI'~e 750900 79~9p e.90 'Ire: me tleiure or tla NC{OTbwn fbwn or his or her eumeye0f In 118 tp 710 aT1 W 1070 x7y,a44 {pep 1.aW,D70 1090 p,p0 0.25 ~m In tM prgwa number lncluN tlw', 31nFIn0 FuM lnsullmente ~tl wwns m the plural IneluN.tlle IPenclPel Ameunle f0 be PedRUrmel rde in fM mIPCY1IM pRndw IM.IYde' Oele ' ilne eras NB ne0ler. bM when tlx: IntllGtea wards al NS neuter y.RMr', n antlr. ~ Y Ibeoentber 11 AmOUa 1101 5176,000 1991 5300,000 . , ~ •ecllpne, WbMetlOni, .. . h1 An4 Mgwfeyynphs rnentlwxdb'/ h99e 5350,000 Nlar, Or eiMrwlee, pOrreepgq lO lM, e erlldee, eabRns, eubaedlpw.• 19A6 3176,000 t99a 3e40,000 +e eM Wbwn«npa! f Nis e .o nuMberee enerveu aP., IOp7p70 6 D,0~00 ~~ a~w1a uq Iwmlme ePgNd tp Tltw•w~A remernf396.900alhe wenen:tu ~ I~b ~ ~um00r 1, teB9 ~. M lplri ens brclbne a tllq I aN IiU warrants malurln0 Pn INnmbx. t;` r nes„ed Y 4 e wnnex o1 ;Pi:nd sAeen nteealls enamnp 0. ar ll rel Ins l r l l 3999~eban.bObOnliwletw leaemwlpnat urn 9p1Wn bt me tanm, in 1un01e or In Pero on u,y '. l wOw o m m 0 , sRY_ e pl tnu oreiwnc.. ~ N~rwl wrmwt tlele 0 Innln9 AeumOx 1 ., ..-u.... ~,...,.i..,, DTI fund gxpceee ea W fee aennwA Pureuanlb Please 7}ern !o Pape 38 C~~ _ r wn Aeerrwrcw nenrort a beWre Tin~~tlinl~ Preo~ari~s in The Village AEove TM Dell - 47&2173 Retail. or 4fflae Space a# Beriahmark For Lease or Condaminlum Purchase Available late summer 1986 Call Timberline properties 476-2113 Ask for t]ave or Laurie ~ 4 s~~~ ~n~ roxnal.~A - ' This Vantage Faint, 2 bedroom, 2 bash rAndaminfum hoe lt~ omn aRWla eras is ~~~ ~d Poasmle ownerflnanPlnB toqu911Sedblgler...ile0,Op0. Please q ~n /eye ~f^C~y~a wSOO~d~ ~{1LL~~~Y}l~ii~pin /~yA~~ ~}~~{'x/~T1T/y ~ 4 v 11..... r . OWNER FTNdl.NCIIQCt' This 6 becUOam, 2 bath, onehalf duplex one 4u1et circle 1n Eagi9-Vail, lstflling has 1,96¢ atpzal`e feet of vary open hvkng ergs, moserock flreplece, tole of glass, and lots Pf ato[aga Offered at..i188,s0p, SVIth excellent terms. Contact Yen ' Ewing for data9a SPlST 3 S19DROO~IY ]~ VI7 LA419 . Thia S bedroom, 26ath,haaRlock-oIlwlthiUllbeth and.PWbz`TV. Thlscompletely . 4trruehlta snit has beamed Cell]nge, moesroWc ftreplaoe, patiP and Hill kltCllglt. Amgnltfee lnWude pool, eauTta, ultloor perking, and Pn-afght rental management. Igwest prfced3bedroom in VSllega..i28p,000.AekforWaltOlsen. - EAlFT~E-V'AIIeeB LOSIifI~SBT P1tIOD . Thla Ails landscaped Esglo-Vatl orie~halP duplex hen 2 bedroorpa, 2r/z hauls, (wlthlltrat~t). The seller wlll rebate 14000 at the alcsing so94n Dan plclcyour ~ ' awn Detest and appllancee. OiTerod at_i169,600. Call and ask for Van Ewing. LION'BQUBPI+f LODQ~~_ BL .:.'„~.: ~ OWN79R ~'IN CIN'(i Agreat rental unit only ~,epafroxn thegondPlR Sellerwlll finartce...875,000.1br more information contecE Eric Bachman Pr Van Evring. HO~~ptYlB ~E ~E2~BOW gLsseg i,ao4amtar~ . feat Passible partls~aw eri$f,attcing...i96,G00. CaIl Jane Circe far dotatla; Nf`'+^^"`°. ;~ ~ ~~ ~c 'i'::s. Q$T716 .-.....T. A. ens-.kaQBEI =N I~t rpttlM ~ ~ ~ ~ -~ . Only 8 montlta old, this 2 ballroom. Poe bath townhoure with garage to osgq minutes tr'Prn the new I-70 Interchange, then Interstate all the way t4 VaLL. At..i08,600 with ~a 137.000 assumable loan, u: won't lest long. For an sypolpttp~anc;o see it Pall Van Evrlag O}?DAN BTYI.F+ HAT.1re aA~s~S 1n 73ag1aVail, beautifW view onto 14th hale Three bedeooma and loft plus two end one-half bathe are incWded ~ In this 1,600 agttara fool residence .. ADpolnttnents include 49ed kitchen and bathrooms, wooden cef111t@I _ t11PYtifghallt, 811tg1e 08r garage 8114 late Of et93'age...i163,000. 1'07P mb19 lnformatlarr Gall Jane Gros. _ ~ vBII, CONDO Oa bus routs. 1,190 s411ae'u feet, 2 bedroom, 2 bath, a level erut unit with siG ew1'age roOm.Ownerwlll 0nanca..i112,000, C,allDDn3l'Ono4lotor tnw,e details ^A N1Fl,.~y ladA,N~'Sy~D~llniLlf>}H'k`~ • . ... ~ - niinllteB n.,~~.~ ~ Woloo f0a rreduCed fu...i,28 (100. AskIPPT !ills pagans TAD AI1DR007YY VPFST V'6T7. ; ~~ew,~ilewlr dBaooietSea~wZlaP1~.8049~e4sm~e feet Please oau eras sett. far R~DCLYFF~Q~ryid~R~MwE~R~/a n RAdL, OW'NEY1 I~1R~iVCIN(i 2 bedrooms. I bath home [or oTWr._i47,0o0. Ask 1hr xlrach panders. VadIL DA$ SCSONF! BT~IDIO-YAO~'1' BlgrlighG atrium, antique alrnielvnga, (includLtg pfeaw), and900 ttptare feet of living area O1tly...i87,800. Ask for Eric 33eahmen. MA~'TffiRHORN DUB 3IAL~' 3 bear'onm, large loft, 2 bath,deluxeapylanres.Oerarrt;ct{leIloore,magyenergy ~a~ ~nst~i ~Bl~ Total owner llnanoing for qualitled bt{yer...i184,900. ASk RSDCLIFF HOMD 2 bedl'OOffl, l bath. Beattn;y in thevalley for only...i35,p00. For more dPtafla calf slid ask Poe 8ua Hogan STATPf BRID[i}3 IA]}Q~ Coiorado'9 foremost raftlltg reaorL. Dance hall, bar, re9f$uigltt, general stare, Ifquor store and six cabins making nP a possible 9 rental unite. All on 20 plus ; } errea._t275,000. Ask for Er1o Baciuna7i Y+OCAL HOUSINQ' Aspen Tree Condonvnfuma m Sandstone area View of TSOnsAead elopes. This well 95tuatgd 2 _ ............. 1 bath condomirltum Is ftdly fllrntsbed wish a large evride0k Priced at on1y..,i79,960. Contact Jane Oros. , TkIiR~iP3 BEDROOM R'HREE BAS 8paofovs 6 bedroom, 3 bath, a>•dlo& Totally finnistlad..i122,000. Ask far lSrlc BB0113I1Bi1 - Tltlrr•~+•~' ]tH 1NP18T vnxr. Beeuflfiil west end Pf trlyle;r ]n West Vali. This 3 bedroom, 2 bat13 tawnhottae Domes partially flxrnlshed with owner financing. 1Wll basement and oT1e car garage make thi9 2,200 square foot home a fantastic byy at~.i165,000. For details ask for Jane Gras, (~) 9'rB-4721 - i'.O. Box 2603 - Vau, Colorado 611357 _ Cpsn Seven D&va A Week We're 3iere ..•,,:>AY.AM „a39:~>< For Xou'~ rip ~% ~- ' e10 1'he Vail 7Yai1 - (January 1 ], /980 +.• l-~ r • w a • " IhraweneN.rm s»dwuPanuamer aeyarnly pmerwrw eypaealy prdrdea to mIe wanam beeoma dw A won preeemapon n malpny aM me Ominenee. aria Pl.dgee Lanp Trenelae o wraee ~n eoncannnue iltlne'~ nu r e:e ° gev n e e ~ g t n n : a i ~ l 1 w r i rate dea gnema nerrn until Ene p+lndwl Mregf n n er as l iw a. ple r e ~ea ae ce ~ ^ re~he r wa , meroat d. ' era any n to Ins pnymeCl p mn wwranh me amlea of wmmn wanam is one. e d Me iNerer Hereon a tl m ~ 4a ~ wemmm uan ~ r n mean amwlpBlwn pl tM ~ l ' a whelhn a' repemplron of tlrb WNrenl Mrl le ' gewnuef erw lnBYladg ed6e Ne Tar RU ven ra e rig lures MSallmarr[ a Her aher prpyid l ItM aepl S tl h Tve yown era ogre BS wnn a,e w v ;ni e p pc erW w eryrce h gul m~ y ln a] Iwle.r dNma l r arw wgn emhatw erary n I e Am Bl Oi u aE 5laln ol noui ~t o maYgOSOmp lnBnpWerMreaNnal ~pn w ~wn.n» k ~ ~ l eetlamwn ra eaclwnpe prealeeugn c rgea, minA wv~ant; o ~me orans nu m m me apeaa wnae nemlrauer aPeeeiee. but n l lh TN. warwrn ra prw d a ri m I,oro J c O erwiN. at Coloretlo atria ~avln g Pg nt} rounletign ores urre er I u on WerrantAin the aggregate prin palemOgnrql i5.350,000. of Gke lenOrenp tldly, anba pl Bab ~' 0 ~ , p p OpuppneaM Nre WermNaeaney severalty bec ume9randinMnOel rma, ieeuednndauMOrixed lortna purppae of tlalraymg in whoa dinpap ome duo. TM Walreme an wlaub Ito reaemAnon the wst p1 acquiring real prels0ry 1pr park.. rBC l prior Iq nelurNy eyCBDt /a pllwe'. rea gn, open apd4e ales IMr mml»r purporea Untler Ina a th it l d i F H {a7TM WBrflntb melwing an alixmber t, , or u y a an n u Ipmitywim gre COnnlifutipnglShe 61dl0d ~ 1989, are to Mretleematl lromlhe oinking !antl d ~Cglpatlp. the Tgwn CnBrter, BnO ellp[ner lbws ' reoum in me PM1ngipl aM Interest Fund as nareinallBr defined in me t0llewing pnr,ctpal el the Slate a} CabradO tnereunlo enaNln» an Deu h of eM purepant Io the Ortliranee antl plher grtllnnncea } 1ne Tpwrt tlut ado letl Idbwm ~'Irnr N, al meu q yeah, re prinmp¢I . p . Y pppnaned antl mope lawn of trip Town Mp b nl prep e4grum lnmreal.ihereon to Ina date liaetl br retlamplrOn:,,: the i»uanca pf Inrs Wavrenl. " Refnen40 r9hereby made fp ine Ordlhnnoe Veer Amourp. ~ Yaer Amount . aria [a any aM an rapd014biwne rid 1991 ~~ ~~< ~ pO 0mendments mprlal, fa a dewed brs o1 Ne i p 1992 ~ d AW t 893 1987 Ia50.000 ~~•~ prd nronn, leans and coraillon+ u on whlgh the Warrants al me mriae e! .nrCn Ihtf tadM I i99e ~ 5950.900 1gpB, 4'~loggq ar0 asued antl aBCUlBd. inclutll wilhpuf A i e eb)WananSemtlUring pn pepmbar 1, 1899, m t non, me newre and exrem of Rw aeCUrity I la ln0wdrranm. prdialpndwrth m9peci la the lap wbfactbredomplWn ei lrrO SMUOn of atetlY aria application al the goceeaa of the Ih0 Town, in whoa or In part, on enY interest payment date begginning Oa4ambar 1, }990, d1a prirq ague! b dta mrnClpl amount IMreof, warranla, the Opllepllpn end diepovlion m the Hue and nwnaya ha reap who BM rlepgedsto the ymgnl 0} the Oebl Sarvka I ~ rppilg in Bubatantn lhalBlhe WB^Bnl reBnl shall peYanlq ley frgn the PlBtlgnd Lend Transfer Tax s ~1 L! ! I ® rynwf [o ma Prlm Ge a erl OGIb9allon IBpntla tl REALTY OF VAIL INC antl Adtl'rlionel GenOret Oblipellon RBntl9 euea on a panty un me Prior Ganaral c , .. Obligation Oontls, Ina Ple6pea Safes Tay r OPEN SE4EN DAY5 A WEEK. Rexenuas wa nalecrivey P»dg aRawnpem M d i °r ~\T ~eL~ ~ H~ el Ih0 Warrant apes ri cprull wu a deer of the Tewn thin Ina rPOemng of any m h arTaa.lh r{I'g~ ri/i1Y i/ilr -~ t a9, aloox j, ausl,e a 13L~pY~ ~ ~• ~ wneemllonal. Cneparontamgry limdapans. Ihel SM wenanl la not peyabFa iq nhole q in q.d (rom the prp4e0tlB 01 ganerel pro ert n g •• ... .. ~ ...... .......... {98,600 ~ p y Eskw and Ina! Ina NII la Nn and crotlrt 01 the l ~+@&V~ ~ ~ ~ 1, 07. Hioak 1, 1fN1n6 a nt9~e01 ono: cn~vd m say me Pnncipet pf or F p' ............. .... {83,760 'Beyyaohe Polige, 4~pler,~[.oi q7, Fllfxag 21139,900 arrant- acn women! snarl fanner r It met II la - nn unagr aria o h ea n a y ' eellyaaLe Ridge Iwplea, Wt 9, }ry1Ln6 ] . {7aAC0 aum4rtr f t e Cheder en i isoreinanpa. 191 Farm of W m a PI BallYellDe Eitd/:9,juwa;, [q{{o. F7j1n8a {Y9,660 ~ Ha+r vo 4.eekf(l 6i -N f I tB erre s er Coupons. 8ublect la IM provialnna ql mss ortlinartae. assn 1 a pTpee r ngle am p n , ly}, Hllp 1 H {76 000 werranb .M Ina cowana to M erucnpd IBBr010 1 II be In abstantian 9 1 ............. ......... , _ HaTly OreeL( W1aBe HiRBal4Lr011Y) [oGa ~ I'~ Y the following Inrm. auto pml6biena, inaBHipna 8 , . BIOOk 5 .... ..... ..... "+~ ~ rggrsementa, 8np yerlahpna as to recitald of M ' ~~k4y H711 ~~~' ~L~""""""100,000 h Ie41 pr ptRer provlelons as may d0 requtretl by Ihp clrcuma»nces and ea may pe ruqulretl or e hr 901a HOY2y e1R~p fNIIUY• j+OS ja, •, .. • 1rj6a00 11y 000 , B efli .. ~...{99 permRletl by this Obmence. antl ea may be aceuary Br appropriate to conform Ip trio th m 1RreA'~OVT11l16 eW$e fBRLLly,Sgt IB, BlpakB rulesana requlrernenls of any gpyarnmenlal Ih A ......... . .... ............ . {3]i0p0 ' euNMiIV of IoanY uad9e a requvemenl a} law lm r 8ut1ro0h Babdttneloa, LIVPeI11R, Lot l2, lilmoh d w reapea meretp. ti PWng 3. Paned below merkeb prFm µ..,,, ,,,, ........................ .............. ijB,900 uNITE~FSTAT OF AMERICA O: I.Of, ll, 81001( 8, P7i101{ a, 8ia$lb`rell BabdlVFtiloFy STATE OF CCLORAUa CgUNTY OF EAGLE ee ............................~... ...... 17v,p00 TOWN OF YAIL l Rr 'Readrea Devote! Raax101 Ayalleble ~ LANCTMNSFER TA% ANTICIPATION WAp ~ ~~//~'~a rr RAf• f »~ SEFIES 1990A ~ of oe aaAA ~AJ~~~F~~Ee ~~ aVi~:FFA1\iFA17 15.000 110' p 93e tW1'gg p6 0g1gtYVb RigeC eph069 Tr9ID 8+aae .- TM Towne! Yaii,trtlhe County Ol Eagie,ann stare el Cglpretlp IIM Town], fur value R L+r 6i'Id6a EYa]000e8B II'Ofll h1f31M~y.....,. {4UlOOQ ~ .-, sae -a11ya on td» Ooloaxdo vse tear ]aenH I- f0dmv0tl, MrobV Promlwaw pBV to the Marer 9u ~•~ <.. r•76~47{3 Bpflr emet5ema:9aWe bid brftlge L+pm8rdL88lldlfe -- ~ IMrelGr ee Ibr¢Ie.ORar pa~lolllh, 0n In01010 y pf aanmber. lq [M y'Inmppaa eam pr FNE TINOUSANa aOLLAR6' '- ai W Gr ,000 t 80 eora5e Rave [Aledv0lq. VLCgIa 5wter covered ~ ra to pay splay from tale apeaal Mnaa i ra wlr2lvdewa o9r:UrQllolee Le`k°and WOOded'rRl1e~' NI u1~Nt1! iY llabl F N D f l mereal Hereon a ramc.a br rmereat eoppprw harelpehachee at the veto pl p° e q praye a y. Np O t se ]eaeC 0apelbl9a pi1U916 Of R91d daV91Op9hlb wlidl N an - , pal cuTmala 1. 9y1 Par Bnnunl from FBbrus7 1: Ig80, Ip ! e malwin5dre pl We.rent PI1 Se hwsa dlove o[PNI. '(gll ask! lpk lpP xnpr6 , eiaeplrl rBtlCOmetl prior !hereto, p'4yableJUrre w1 detA9a ...,....„•••••.• ...............1976,060 I. tagO. arM wmianrWSlly meleaier on Ma let ~; s w9, Cakntlo ores! -Yob mya6teoo anwr apyyyl.m5 PEAL ESTATE lONWIQ~ 7Q1.L FREE NtLICyIBEii: T-80aSg$-9283 Ina. I. ajSperNrnaad •t•H. Merrlber lot VEtll Velley'• Mufllple Elating Service. ONE 01= VAIL'S M05T LUXURIOUS ~ >. . ~ BULL SERVICE LODC3ES MANQR VAfL a 3 STUDIO APARTMENTS TO CH005E FROM... •Gold PeaklVail Village location with nine tennis courts and four ski lifts a# your door step. •Unlimi#ed owner usager Owner financing available. •Mossrock fireplaces, full kitchens, completely furnished, sleeps six comfortably. •Two pools, sauna and Jacuzzi, •Views of Gore flange, Gore Creek and Vail Mountain. •Exceilent management and rental program. •Home of the famous Lord Gore Restaurant. wemantstpr ton sane. pt wmen m~a nsr rig e I enfnetepn on akoneny witn a4n w.rrArrta ao;a ~;nce o`babgaao~ apnea o°nre t own rnaaa~ date l~erpotnnabo ctBnntl BPOesatep n Pl~q¢tl Sslns Tax Rc on esy nev4 Gmrepentsunn.omereara wnlcrtome tlale new obagtl of Ina Warrnnta plln wnicn Ihra rs one ar annlecl to esprBSaeo rnnn~nnns, naveing a 1+^ jl nrorraipnx n me rleMrvrnre E on tlate, I%mrements o~ine warreme. ma »nna era ee0dmod O anking dnkm On which the Warrants erBiMU00.a ' tlescnpnon el aeitl apeaal Ipnd9 referred to e IhOro abeveaM the nature and enMnl of meaecurily ' B Hell per [1Mraol, Mpleog0 dlbrtled Mareby lorthe payment 0l Me OBbt Senice Raquwercr0nq, and [he I mmuringg aa~ rt i manner pr enmrcamem alwm pledge. as well ' s merignts.gplin,immunil'resand gbligauons • mB Warmn Cowaie~elso n¢~ q i em ds oi n ~ h errants gn aer r e l e hgbe.re al nip werranm. IPSatnan TO tneeslentarra in the reapPa9 permlttad by mPOrMnance, Ina prpveyronspFlh00Minarrce, C01ian of Onee11 tiny tnNrymenl amentlatory ihOrdOf or suppbm0nlal thereto, may b0 mptlilretl r I W lemblion, amended ey actbn OI m0 Yown taken in the r^ Her antl sun BCl lc the tlllipns era ' erg Tend ~ioa9e of a atria sand omeei eig¢tonpttne i pap0r of aeemn under the GlemartCO maybe^iacnargetl arpr priormmamamniyprpnorrnaem-uonpl ' e ~ e agg p ihp the Wanenla u me making 01 proviarpn for EhP payment Ol the Warrants On the termsantl 4910 the s eaing COndilrOrw sal }gfln rn the Ordrnartte. n is namny vetoed, ertiuea aria warmmaa of m0 IMtBIl me remMremenls of law hBVP been linty lava- For Warrant tomphed r M1 bV the proper Clltcere of the ' Town In the I4ap8nce OI Ih'rs Werrnnl', InBi rl ra ~ IdresslB ~ r use Pursuant bend'rn attic! cenlq.mirywlih trip Gbn9ldutlm Of me SIacO pt Colorado, the prl e r be T nrane~am an Amer lawsprme steed! oi elan untla e vaap, a wnn trip ordineeee one Hwy ' m m t em Warra ltlceanoycon trsyonaenycpnrltutp nel tlu0 and Ile, antl Or statutory limllalipn p}tna Staleel Colorado - yylimiiatipn Of ine TO wm Cherler; ar>61nat Sher the Mrl ~ (his Vrerrpnl antl each of meempr Wanams Ol Ina satins Ol Which ii is attBare rssuaduntlesthe auFOpril^ af ine Orbinarce. I specie B ni f werraN and the ; i ~ ¢mme io Y pu[01 , ,nwres nere p w peegOa ine enernae al ell 'tis !owlet cor prat0 ' Bntera ter Tas p ppw0rs. IN WITNESS WHEREOF, the Town COUnail rom ine e gash ql trio !Own pl Vail. COloretlp, nascaused this ' Warrant to be slgrza In rte name antl an its '~ lnmtlirp banal! wim trio lBCSrm,fe aignatura aflne Mayor rq real;ar tae Town r0 oe aeatna wrth eracaimilaswigl the !Own,aM to be slgn008ra attosled by tnB r own Ilhe c ar9 lM •^ Yor a the lawn, an ns al the 1st day al Febrwry. 1980. Nlectivaly 4c811y TOWN OF YAIE, COLOPADO ~ 1990 {the ay (FanimllB Srgnature} •;"~ ~ faranl ie Mayor (FACSIMILE( ' oupbpna ~ Ihs ISEAy ' Alteah sbtutory :orpreen: (Manuel Signetuml Tovm Clerk - ... .. ',nn rter or r wools (End of Fnnn Of Werranll ~ Tporp°n .: ~-9' ~ ,Form M Inlarusl Cauppnl ~ M~sSan ~~ COmpon NO. mameoi~ , " On trteenlday of oecemeer. ~~unel, is ariau ivpcapy u leas the warrem b wnicn His coupon le j neenap Has beencanee for pndr redempHOn, ! nl to Ih0 M Town of Vaii, 'm the COUnIY pl Eagle And eredtad elpretlq Stela Of Colorrulb. will upon surrentler pl this ouppn -Ay to bearer the embcnt shown I ferraN0. TOwmd hemgn lR !owlet money pf ine Unl»tl Slaleapl Americo without eetlpctipn far exchange M Idpetiph rntlelM eto rallecbm cne rgee, el In Wlorae0, splay lmmarW tl ' ~y, eaCUled by a ple Pge Of Iwo special funds, in d r tl e Serrke 'Ipm f he aWraes sal fo Tun ma Wnr iant to r d 1 n Nch tors coupon penmrta. bung the interest 1 ty p Ile hlCm hen due on ila Town 01 Val. CplOretlp, lane Tranalx Tax nnticipahon Warrant 6lrlea nalnbiw , 1900A, bexmg _ ~' I° wprrwnt riara+nl NB_ ha town, ~ SFacsimi106ignaWre) finarwn '~_ Town al Yell, Coloredp p afa~te [End OI Form pF Coupon} ar9 wi0 C, Warreni9 Equally Sacumtl. The pownanla Ipalt the rib era egreemenla Herein sal lo[Ih to e0 pBpOrmeOOn MnBhpt the TOwnshall tie for loo tliruryg equal Mnelit, pr Ieclipn antl security 01 the a rrapd as. assn Htldem pl arty and all of me Wnnnnw antl rho capppr~ per»ining Ineretp. an of wnicn y MIB . raperdlees of th0 hma prtimes atlheirmplurily, rrtlnMr lebone shell 40 pi equal re k wimdul prelerenca arty or dlsgrKlipn el any pl ine Warrants Or IWen'pp ppn9 der an other thereof, eyCed OMarxisa akprebsly Prpvidetl m Or pwspnnt tp eo~a3 ~~„ro wN„ e~~~e° ~i~ "o~;~y T n e t o u IgyI Ilion ' lo o tim iatipn d rnh steie of cdlnreeo or env a~r+tkfr Ch~rler le antl Coy n °t Yarl naM In¢hWe~ s s. ; o not oe cp itlereo o. Held k bepna Shan general i m me rega tit IM obhgahon p nip town but aneu consbmte the special BntllrmitedO0ligatipns Uflne Tpwn. Tne Warrdnt9 RonA ere rmf peyebl¢ In whole nrin par[ e'M !hq proceeus tit geneal prppeny is KOs M l b t l ;tan 01• ~. e u a tn eM pretlH pt ine !Own is rim cpte0gap Ipr payment Ol lhp Warrants ar !Heir ppPpro I ifs the sl:cnlxy a. sr. N wnrrema q Necrosit n t P pn ma " iOnS . y roaect a a Issuance or wanams a mr a bell i , n . m tmeraals p me town aria me innaduaas ,e ir q m Inn sal that the Town ecpuna Ina Prpjem anti Delray au ore pmhpn pf ma Cosrorme pro e t a ~ ' c t Ly ~asurng Inep erran 5. r+a oi I sae rn~ io»"~`cor,n°'~ n se~eee ee roe I~Onne^ ! Bppruvala~Inere is now on Mern ine udwen} d'~ n t"P i.Ilneq.rpnuMR@ !0~&iGetw=ui tg9rTmrrgNnn ~R `a trip naaar, p ~ri~~ ~1,1 r~ b ~ nl s . ) i~ ~6'k~ ~s The Yd! Trull - Junreary 11, 1880 3~ From Fade 38 NEW CONSTRUCTION Located In Crossroads Center East Second Level on Moll aE.aLTpR - ~ ' BUILDING 51TE5 GYPSUM: Lat 5A 0edlaan 5~ ivcn, .5$ pees ..........577500 GYPSUM: Lot 515 Eertroch SubdNkpfl. 1.~ Ppes .....,., .522.500 WE51 VAIL. LOF 28, VAIL VIL7AC+E WEST, HUNG 7: One of tr,e lost exceptional well Vail bis, Single family homesi}ewith good views wrtounded W mature Aspen hens Adlacenf to Highland hleadovrs ......................... ....................555.000 HIGHIAND MEADOWS lAl 16, FILING 2: Fxcplenf Ipge wooded dupes site 7hd is ready fa colvsrructron in iha Summer d '80 ...................................................577Q0pp OWNER FINANCING AVAILABLE ON TkE FOLLOWING LOTS _ EI~CLE-VAIL,L0159, ISLOCK I, NNNG S:ThIS duWesld views the 79tH green and o%ers an exCelleM bu+ldmg e1e.29'Ldownv4fh faience Over 5 yeas a! 139 In}elesf per annum BERRY CRFEIL LOT q 6LOGK d, FILING 2: 7nH AO acre duplex bF B adpcent fo P fiAue reaedlptpl area and a1EflOakt mB 17m loinWy At im the cfnmpianahiP grit musrse. the pprecf Ries 'include tenrrs. swimming mtl ma egresman potns S29.Cp0 doom with bdonce amortized over 10'years a 1254 interest per annum antl balDOrs Payfnenl for golPnce [Rentl of 3 y6o-s BERRY CREEK. LO7 72 SLOCI( 3, HNNG t This pima duplex 7d rs localetl orl me 9m Fairvgy. Excellent financing pallpble. Cali }a Beta{H .................................................599.q]D EAGLE.KAIBAftSUBDMSION,FILING 2, L0744:NepN2apesCffeRng BIbM News. Plentyof trees arsdaaoaP qu,p, efts, l/3tla~... ~~"-~-"' mid Rnancea over 5 yaps of 114 3nleresl per anioium EAGLE.KAI&1B SUeE4vlstoH.nur~w z.LOT ZamislaVeaaa~ia' alts on top of me wtdrvLSlona%eeng an axcen®nt bwlairg site pnd earoortlrnay views of the New York Mounldns. 1 f3 dorm Pntl the bawnca flnancad we[ 5 yeas aF 1796 interest per annum. INTERVAL OWNERSHIP CONDOMINIUM~RESIDENTIALS sAwosTONE CREEK cLUe: These IPxPnpus contlominwms mus! ~ SAF7DSTONE: gpel[eni dro0ns two bP}n BreaccnvPy West seen io be oppreooted mis pa`ecl o%ersolldtheada+ontagesaf CondprNnlum, TOStetu%yrrsanedvitln,,,.... ,. 'sldingaxenting colsdanlnrum ownelsNp vAtnatt %ta ngh costs Amenitiesinclsstle frrepkittAA Pnd lave. tugr-n yctu todunehres 1Nasher antl dryer. tames coons. Inpoalouf[Ipar pop, nantlba€I(rocquetbal court Span hxing bolCOrly t7MellaOks sNmning pod and a%as Newd and many dheN StaP W ou office a calf tot tletOils. 5NI>tdgea ..............:.....:................... ......5917.000 VAIL RVN RE50Rf: onristmas. New Yea'sonamanyofherfneskl on9~ ' ~ ~ summer weeks pvoilable En mis v.Ull bc0teb lnlenxll ormers'hip ,I . pgeoL Riess starting al ................................52200 MOBILE HOMES BENCHMARK: 17x45', 7fxee aedroarn two talh. washer(ddryryeerand • ,• dishwaahp ............................................515000 ~~ ~ EOAYAR0.5:47xG4`.R+ree_____,... one and onehalf ba1tu577000 c WtR DAS SCHONE eox rlnanalre d mferest lnret d 15+r4 per. annum sNm 201ep BUSINESS OPPORTUNITIES Terms oath 2 print loon plgirlCeiorl lees exists is the fdlow7ng Vall HIDE 'N HOOF SHOE REPAIR 8 CUSTOM LEATHER: Lacatetl In the Dos SC'hone CafKkN'nlMUlltt Crosvaaas Stropping Centp. this wlsafile leather snap O%oP cromplete boor Prtl shoe r®pair srMCes ant rela'rl roles d beOls UNITAd'. Ex[eilenliage t}udiO. IVecs7y.,.,=__._.9d Appokimotery vests, belts Pntl Omer l6atner poducls Rice InCfutleS leasdtdtl B4U.lptfar6le~f, large sl99p~f1p toy, New salehn/e[Wetfvon.9rMy rignls and Improvements, camp; ate Gray OI repair lolls Ontl and warm Vall Dab SCha1B ~`Ylcpping Center .. ......575050 machlneN and Invenipy .... ......... ............... .$4&SUU Urrt A-15: Bess pct/ VdIOPiSchorla ~ _ ~ --~ ~ ~~ . „Center. two bedroom .. _: ^nd la 610%. Very nice view of Gore ~aqa iron iNngroom and master botlloom necks df of bom Imngroom Pnd bedroan. A :. ..: ~~~ -, _~ value at ....... ......:...................... .......597 950 UNIT A~19: SpPClaw flues te[}oarn hw arW oreholl both .^-•~ ' i cOrldommlum G ~hlinD cape4,300 ~uPre leaf. RecenfN f IeNrtisnetl 6lCludt crew }I 1i hli Irxtpres antlceramic ~ ule tame. Ltvfng sea rtw _..:., mead agiling arw '~ ~ - bakronv ............. ,,,.... .. N ...5310.950 »,... UNYI A-20: Large 1alaHy fedecoroted sfflwP unit consisting d Pparima4ely 8A0 podia 76et. feolure5 loge sleeping IpH with 'r eakyupnt and wrouphlYplakeularitarrnt]y Lrvrngarea hosbeamed nOfi6dtal 0elrtng pied twkor+y. Repalnlea antl reporpefetl ~ ~ _ w rnrou0has4 .....:......j.a ............................ SO4 E00 ' UN11 Ave,6: rfve6_._.~., ., Maandlxte¢na7 Coln condominiumM TOBIAS WAEIFS Rf51AU1LSN1. EAGIF: Wca}ell al the LPgle VOiI dds Scnarse Sr10Pdng Center totally reh.tlsnad ,..5114 750 Inlercnange d InteMOte 70, finis restaurant continues }o serve line WEST WUI:SMCtasa wetland unit in velsbuor triples an quiet cos Rlme Ribs and ttallan ashes Rsrchase Includes on a#remely aBSOC In Malle}npn This thfBe _~_, _,.,,, top bath condon'wnium iwaable IBOte On 28170 tGWrB feet, COlaado IiCNp IlCense Ond realV6ta drepbae yefhflletl hea}h Atpenp0nelledwOlla, Ilaon}v all}Ix},,,es Prd fumrrhings in lnu 00 seal restaurant and 45seofbp Getting vnnaauy afltl fRdng gloss tlopy aperting antc P loge paerPlron A-money mbker nos mot should shoe in the groMh Soutn~loang deck. A lo7al pf y„er 2400 sauae reef including an pwkled by 1ne tlB+elOpnxx:} Pt Uev.~er Creek arts Moorhead. llnLnitnea basement antl ORrN26d healed, one cu arld me many I:ogle ergo aeyalppriseM prpieCtS cuneMly gRPBe........•.•••• ..................... ~..--.-...-51050p0 Pna6rwaV.OWner sNElapllde'tarmsfiom gapN,ga quyevs poVid Fates Frarsk Mayfield Bill Sargent Norma Sturges (303} 47r}4300 ^ Post Office Sox @292 Vail, Colorado 81657 • .., . S ~~ ..~,. Plnasre Trrn tP P4U1e iU ' ~ ~ ' ' 4U fkP Vuif TYail -- Jnnunry I!, 198U r Front Hagr ;r9 aeon iq ws Paaxw Fund pl moneys. Feurel eera emwm are mpnera ,n me Land nm MNl equal nql lrla plan 555$0007 6awrrMa and panu tle tl,Ina. Pr 1n Marnlenanw arw Prannie °I ^ee meP,led w Me Lann menleinetl Thereto anq p1 Any ¢viflinq eOrMmerrpn IM/10t apcwnlvd Id In My neap, al'wmulelBd. endFUM snreressasel earuan av FunJ maY hs w0p NIY la any tlMramc,gf. erq parade from wen land a , ,n me Raaene FuM enan ea mnmmne~d ai i y r~ to r cwnn,nalwn la uwul wrvoses as acrwnr. as ma<ase may Da aacppl as meyb. CWnbnuinn of Ip lM i,rM, ea Pl of glnpr aC°wnl or qtr 9uaP r~lo Tpvnp'M reicwm~ulaP SOrppm nmp 104m¢, ma~nlalnttl sal lor,n,n nr°,ngncaN0T6 arWinSe[hgn blf °,fermse praridea Mre~n. hgrslnlller pr°v1dpq n Ilya Sv[h0o-1D Arq 'pHncietl anhlylw wa I pay's 'Iw m 111 F^sLenminaling xny nvrew erpOf Oedl Sam4g equVafa¢nflf In whrcn cafe tlaLnencyln the Prlnar ocand tnlerallfun00r I Ru pprgpliahOn Olfuntls Tn^ SECTION 7. Pylgrirll', Nana; beuaneq pl gaClgM SE erq 9^h W,I IDq pre VPe~ mp,ftyamthe minCrpate^p lMprPfr FUrldeM ne Reserve FUnd. h. in wrt,cn even all d9yl antlA ArfgiiW nil BOMa arw Atlpltgrwl Wamanh. Iwrenaes In a tai Ire rO. $ 'aed rpm.Na mepaymenta speerhae Rpurampnta pllye Wxrxnls any Mtlrlrpral a vavnq Funp man ampent, Except Im any a A,Iab1p mpreya Irqm Ina lent Ma,nlenan[e 9n In,s St[hgn 5 era nxeby apixoPnnled Ipr pp enues' $ee0nd Lien pn Plotlq~ Saba Tex Pan1Y Wd[mnlsgntl dry OlnerVMpy5ecuntw/ rngwnmlxanpr plr,prQwnlpeccrue VPmpny 'rd Plenn,ng rurtl snail as rrensrerred SO me e~p ra'.rposei andaa,tl AmOUnis loreach year Ines Outran velrmenl qr nvpeail pl mgneya drnuant t° Pnntrpal anO lnrxefr Fpnd or Iv Ina Rev:ne man c,neludetl ,nine annadl baAgal and Ire R enuei y prgvided in this Ong resuihnq Irqm Salute 10 5ecl,pn 1R he'ul tram we umB °I any auen Fun°, °, t0 non, t0 IM exlena required to appr°pnah[v, wdrnanCe mea tea r° be Fa<CPt a exgresal aefpe>,~nlnl ~nl3e t0'pdvs~scltli onefi $l~rK nvealmMlt pr peyvSq lp me lane or revpatuve el,mmele wen tleirCiencV AM 121 $econ°. adopted pr paasetl b qip Town Coaoncll .n 4rd'runce wrw rBfpect lq Ire ,uua a of Rpu,rem¢nrf If Ina Game egcrw ~'e eL the pep{eetls a an asufi n rnyestment ar cayina we coati pl v wl ms nlanance or ea{n near rvacechrey wMte any pf Ire Adtln,er,al Partly Wvranla, App,ripnal Perry pefd fRall DV yon payment, er Wira OfinePrOwcf ran walSgrrBVlaq¢menta wawa se~lner as lope, retort dinlamal,art General ONrgagpn Bpnpb, pxgy Sewnhee - Il aianyllma wo Tpwn loan ldlny rlalon IBaSlequallo wchOeal$Bn'ceRequeemenla- Inprepl. yr me testa ql punning, su,reyrng_ Oumtandmg antl unpa,d Mp prd,a,Onagf any a^tl SUbormna,v Sewntlesantl augytttlq tM Earl to pay in,q me PrmMpelanOlniemn FUnd Nell be uaetl legvtner w,m any wthparnlrwn mfceelwM antl engmBennq rn preparal,on Of on5nlurion, elalulv.'enarwr, grtlmance. p'iur asp parrot rg Ma of Prior p¢Mrel 1 - the fNl pmpanl ibvw I,pulattld- Then an WCn mveslmens end (lepmgf fgkty f0 PAY IVIUrO acgw LE,ana byalhe Fpwn of real properly olurrOn, o del Or mmsure enacleo OOligelwn $pnan q 0 Pledgetl Selea Tax - MMUnI an Nl ai peitl trip Ire PfinCrpp~I antl p.cn Dehl Serv,ce Rpnmremenla ae Ina game elm giraa. retreat I. open apace and ptner after [he issuencB ql lM1a warrants bhap in en RarenaBa, Inv Pletlgetl flevenuea shall b0 aM Intxnl Funtl 1448 t'ma hqm Ina R ftlrve pptpmB qq end a ny m0neyameaunlnereer , ar p'^rppaes.IgManaYa m erceas Bt card SECrIDN 4. GNNraI AdmlMahanm al hereoy are nnrvocablV auigre°, PI(pgpd antl FpnO epubl tp Wa Mporencp belwcen wit PnO Ina Prrnnpal a d Inlereal Fund antl Inv minima amount rnqulretl loM mamlamedm Fords, el aEldelq pay iha Oehl Sarw4¢RegwrvmenS fropminePlvdq dResvnueaanlt~p rNlamvunl Relarva FUrq ono yyOln¢r rriOnaYadahved tM La^dMalnle,sneeantl Pldmm~gFUntl shrill APIa[eaand T,me001 De Ls. EaeRdlne 01Iha Waranla,nanl,Mpdiron vl lea eallectgn ' ahPUl ;Iged aTrtp mOMyb aed shall e0 Item lea PlpdgOtla Rgvenu63 or plhlrwi0 be wandrawnmerBlrOmandhenalerreelPth~~ apetial loader letl rn Sec~en DnBlpl, Inn of lee Pledged Revenues. maraxllar nv tlaAnO F01 a0 tom the heel erwmmq to lee PrgrzHle bYylha TOwn~TMy PrBnc,ppl antl lnlrrosl Furq and e,mY9 vled~nC i+r'pevem6nara QOpanS s~funds ell do heel lien [bMnn otcnecewerny an earl sbiva h~ ' OnpyA rreddatl to lhviend Trane Or TAx FUnd lawlul mennpr delermr aamo n er a glner m I,pry upon ICe Pled 6 Lerq Tmnarer TAa r qu,ratl wbv rleya In the Pnncrpal and lnle,asl Fund antl pnnncelantllnteresl Fantl. na rn marntarngd ,tie CommerC el 6apk aaa book 9a olMrwm¢ aophad by Secuan se nerepl R m°Ihe flasewe Funtl mall be ui0P eelBW aM D Ppyma^I of AtlWI'wnal°SUbordmare u,nl kepi secerela and eparf tram en erne' relwlaesTM Warrantsarea50 BywlaglyyaM ' Aadirpna! pa,,,yy Wvrrenla Or dlnx ar ly my lvrtNapurpom °IQayinalM 40br5ervlce aeFunhef SsAaequenl t e peymenb eccpunls pr lunea pltMTpwnashuslaccounw Yaecured byalienM my %edged Sa{ae SBwrrt'ea en Outuamm~q lower rnenp i~a Requrr6rneM1 0l Ire Wdrlnn Px~l Sewlr~rp S 1gnd5. aniM laregglnq pmvnrons a} w,8 Bplely Iw me purppbB9 nprwn deaignatea Tae Revenues, but lnl Werranls, rn eccartlarce Wxrantfl sip lnoapvrp;aMnq eulhgrriin d nrrl[y WA'mnn antl en y ymOnpy9 re mainrp rn tnB Larw , wile the mgwmmens pf we Pnd Ord'nancaa. - NSwn46 can ,ef regawe we Byahar auingrreed ntl Ouutamm~p Irom Trensln TSa FUM antl any mane rBmain,n tnereipm For purpgaea a1 rnveelmanl ° only c0^Sirlul6 an irrevocatvadM Second and rapNcrmen! of mgneyl rn d •pferve actldnl bmo tv hme', buI any mpneya dl any ame rn Nom Pledrptl Sales Tax Revpry,esyma Oa ua~ moneys. nothmQ Mre,n prevents the subwdlnate lien y raid. [nM the mpneyi r6pla<fd In the ragels Olrhp min,mum amWnl mqunetl loM by lRe town forlM Payment pl DEel $drv,ce Iwo ~m°Ir~ucll, DOOk &CGO Wms dlgr In any y,.lu5ive apCOntl hen~f upon lthe Pletlgep Satan RpNMe fund anell b0 rapraeee m • p+e rata ,rta,nbrnvd In Ina Re§ave Funq mpy be Requrrempns ei aydingnal Suba.dinele Ire Ple° penainmg[° Tax Reve^pes, n lien barn seevntl antl t bamf Oesrd uisan top armc,pal em0un101 wa wllntlrawntnarelram, $ptunlleB payable Irom we Frpggetl Revenues owcrlvntls of lrMTgwn tvahe estahhalquntleyr ubop'nalo lq Iha I'r0n 61 the Oulafandi tip Iran Ounlengma wAlfanra ind we Iplal one IranelMrN Irom Irmo to hme 10 Inc end n6r6ailel aWhOrpetl lq b6 IssuCd m Ilya CrdmarrCp SvCn Hoak apnor/,l anall be $upmlpr Genarar ObngehrM $onm n pnng,pa, 4mqun! dl Inq tltan OWIlendrnp pnnc'pel anO lnteresl Fvlu asp grs[nDUt6tl rn accprebn40 wqh Ines nrtllMnce asp dry other conLnlahBlY sec r d w m0 fNleal ° tent Connecripn with Ire Pledgee Salve Tax AOpao Mi Partly Wxremf Or OInOr Panty SM uma manner a0 qmw moneys m we Prpv,alans Herein wpplemBarar thereto equlrvtl d cermilled by ore Paws of the Slate Rvrenuea arw as requ,rep by the Prior ' Ssanurs. ,nelutlmQ UlO Wahmb. ae moneys pnnmpel antl lnlMBSt Funtl nelud,rq asenalNB r4ervvs iw sucn for me saeur'm Ortl, r~anCes. the Town snarl loll petpmq Bvdr4pra lheralgr. F of bile n,ntle antl shell De peOt Sernca Re YProv,tle tar the Land MUntpnan[e ind Planm,g fund A Subgrmnete $pwnhes.eaf49 SBmeacprap, but rr,¢vacable one opt wn mawada byanypnefgr gV'rem¢nts of the nUtalanOrnp 'Y '' f Txmrnallgn pipe I,n. VfB0l Mgneyeln Ipenal land is rtoreDV Grppletl and Mergnaletl Ina Hen al sucn Subortl,nate $lBVr,bes on the any phrtlase otMr chat the mEpBdlw¢ Superior General Obligation ap^tls in e y No nqi end lnlINaal Funtl ind flesorra Funtl Ihe'TOwn pI YA,I, CMwetlo. Land Trenalef Pletlgad Revenuef en0 the pletlgv lherepl lC. es,gryled purposes cl su~h lands r nxal Y¢arentl. only elWr S~Ch ppr ,ion, may + paYmOat need hp matlv mla Inr Prmgipet . Tea pntlclpflian Wpr sly. Lentl.Mmmm~a^pv the payment Or SUCH Subortlinere Sacuriliea any purpose Omar t a B re5patilra TE ttec~n eaeess Pleogad Safes T xsHerenues, tlr,e latprpfl FUnd prlhe R6allVB ipnO.Or hoe Jml Plamm~p0 FUnd.'SuplIeel t01n0 paymens angg d0 lubordrnale to the lien asp Plldge ql des,gMEappdpvses pin auCh Sunda ry. rot lee pebl Service RequrrBmenb a wramoum mina PnnCipar antl mtereaifun6 v6gurred by BOLIIgn959,5C 0^tl 50 nomand to Ina We«antl, the $u wglBOerd, Obliyva,ign acgpunl9 Eecn periodic ceymeni shall be olwe Warrants.any Adtlltipnel Parry Waganie arwlne amount mina Rae^Iye FUnd lalelafum hq¢r1en11n0i ley money: remain in tM Lane Sorwa. Adtlrlmrsi Parry warrants en any Credilea lq Me prOpx nook apcpml rtpt smr antl anvplhvr Parry ReturitiBE. by lranalerring leafs Bgw1 lq Inv rm amp tit 01 IM 1rranaler TSa FUrq, Thera snarl u0 elp6aned in Parity $etunnPf ea heroin prgvidae than Iha tlvle Ihemior nBrOin denigrated. a^ChexcessPletlgee$Bres TexRevequutothe - OvlllAntl,nq Werranls anq any Ous[angma nq LaM Melmm~enW ind PlAnning Fund by R_ 'JSe d Remaining RavBnV ¢s Alive the acept mat Hen any such dale hall be a Principal asp In;areal Fun we Reserve Addrhgnal Per,Iy wtlrrenia and parry l,ve [51 ap0r0•imAlOy equal enwal plym Paymenla herelnae„vp r¢qurretl tope matle cY $alurtlay.e RUrgay ore kcal holitlay, IMn Fu psi eel forth In Slero a5Ca^tl 5n h¢regl mWr,IleJ, pa lgar1 O0h1Servreonoqurremaml. ale,r'nq rw later wan Ngvnmbpr 30 989eM' Seclwns SA tmbuy 50 heregl are mapv, ar me each payment boon 4a matlo on or balOYB mB 7T0nsreryTax RevonUef are inwlicien`~ifd tool Ines refvpchve alurn,ea pr t0 Aon eanhnufnqp Inereeller nO idiot than tRa last day np 01 any nsc 4 Year, or wnBneve. in any n l pmCemnp trwmebf dolItr purpose. ReGmphpn nets qr Rldemvi,on Dales In,engal BUCCeedinq rover Sand Yeem end. Fifcsl Yeer there Shell nave bi;B^creddvtl ro Ina oa vBSim6nl of Funds. My mdeya in any ' vfimh the Tpwn broil hero asercnatl d Mall NOrembar 70. 1061.IhrpupM1 Ngverr,Der 70, ,qOJ Prmclpar antl Imerpat Frnd, and iolM ReacrvB land a labllsMd by IRIS Ordlnanc¢ W in u,e Such waranls, an^O Aen,honel Panty ' xe CnbgA,pd mail to axorASe lta pp40n lq mBWwro. Mat amqunl. ,1 any, awded tp FuM,Igr NB pdymenl of ire Warrensdntl Any Land Tranagr, Tpa Ipntl W the Capllel Werranls and any al r Parity Securilles radAPm. pnnrlotMnrBip¢ChV0 m01urwvs. any pccumuletpdrBeLCUmuNla the emounl,n the OfiOr aecuritles pays nip Nom the Pletlyetl Impovamenb and Open areace Funtl maY be herealleraulnprr:ed to by iasueaane lramnme Werranls ny ApghinMr Panty Warnnm in0 Lnrq Ma,nltlnflnre and Planning Fund as mat ffvvenun eltamgvnlb rpquve0 iobedeppsrtpp depOf'letl. in sletl. p led i any to time OUlslentling are equita4lyaM msbly any glnel PM'IY Seeunhae, Ines OVlawatlrpq, en-acembar 1. Iga4 rna amount,n eaiq Funtl rn those space, turtle el lPat ,ime s tin manse permltlev bye law~r $BCUrmeb Or seta ea byahen onrha PlepgatlRevenuesand eM ynMeaNe~ mnwmq 06th pCCrV¢d ind dql anell v^uel C21p pq0 NO pdyment need lee grOrq¢tl, eaY remaining pleegpq Sates Tex pbirgetipns pmt MSetl aS cn en inv9almenl Sna9lnotpeentilloe ipanyprrorn lone over the tl lPrdiaep foal, bdbly tar iha purpoar opal Ip the Land MBmtenaneq erq Plenrnng ueam ;be used ter env lewlLpurpose shell min0rpeaublac![a redemption al anytime roar '^ the appucallan ar he Pleagptl ollmleSeCrpnDE,,n@tv sR111bede0mOtl lq OBp FLnpf0ldng a]Ine mon6YS lnnlein aMltrgpat es 061 IgrM n Ormnd^ce Nv. 11, tl a al loge value dy the rower lheree}aI IRE dP1,On Revenuee raga rdles4 of the time o. times ai the - of auen hgnpBr, dl Shell mature al wen limear raavantn of the WanamS,d^y Atltlrhanal Parity ' qsl nearly evintlitle i1M1 IM Warrants ana any other Parity 5tturrllas , eapeeclBtl yn ¢ d }pr moneys Irqm me tuna in being ln0 rrlenllpn al the Town Cpunall that - gpenilon. vSecurllrea r tlPligallpns sg 'ne'e nail pe na pd«rty amOnq lee Warrants, - iurcnasee a6 B^ ,nvealmeni of moneys in any ny Atltlitipnal Pa.ity Warrants antl any other uch funtl Snell be tlbemed al all litres to Ma Panty SaCUrq,es, rcyartllessgllMla4t lndtlh fly peel pl rho apPlleeble funtl; prpvitletl lhat.ritn Q,IIerenIIa~ISelly iuu0a and tlellveratl 1 ' ¢enceptlon of the PefervO Fhnp, Ihemiereal g, Iasuanca of Parii Warrants NOlnin accruing en 6uCh mvwiments aM any pro}il Y N aliaep Memlrvm snail pe cretlhee lO lnB Lard nprin, aublecl Iq the iimllAlipns staled Cot7dnminium'1`ownhouaee ~ I rraMlrrraxwrra,antlanvwssreswnngfyam semlaru TI asp :d he I. werenra me .. ~, wcR , vp treenla shah ere chargetl tq !M ' "a^°B Vv the Tgwn pia Atltlillonal Parity j earticuler rprtl m questmn. lnteresl and profit Werranls pr away atltlillgnal ParltY Spcu[iue9 ~ - dheed Irom inveslmenls in thB R¢ferve Funtl Cdnebly Nom the PlaOged Revenues and it shall be credilBd lathe Res¢rve Funtl, dgvidetl o fullnpalren °n wv pletlgetl Rerenuas qn • pl +~.`" that. sq tdtg as wn amount Ire Reserve Furq apapirY wit Dut not priorwsapanprfo,IM1B BBn _ '.J Ik aqua fAllrast 1550000 such mtOrC9tantlpMn ~"¢re°n p~IM W~I9 eta `tharevenlsr the - Y sY bgn nsferreeeOlnn Pnncipalantl lnlernt reluna,ren9anora rrl Ilhe Wanama excBptps _~ Fantl tl mfwbut tl Ire as ar as per o ttl~ ~'~ - ar more in the Prince I a PrOntletl ,n Secirons ]H lM1reugh is nerevl. bur ' ~ ~ ya' rW Inlerea[ ce , before an ~~_' soon Add'q,Onel Pant F ntl.An I Y Warrant r y pas result ng Irom 6pchinvealmBnlS Y ~ '~•. ~~ L ~ •, ~'<i--, In Ene ResBrw• Fantl shall be ehargetl ttl the "thee aee,t pod Parity 3acuni es "ere ~' ~ ~ ~ e peserve Fantl. TM Tqwn shall prps¢nl tar aarhd'aed ar actualiy,swetl lexclutl'nglfanY " ' ' _ ~ ~ ~~,. - f Mauccborn: Dup]ex house a V(des[`Vail. redemvugn dasla pn me we're rng mamelany pararen rewne tip aBCd,tres mwna ng iha ' •~ .r9 One mile from Lion$H lad. Close to bus sec~rn d pr pelrgaads ap vprtMSed as an w.r to t..l say Parry segvnb6a r6mnbrng The i:od¢c Southl ].ocaiion, locatl4n, wvealmenwlmareya map,renwntl wnare.rer Add<gnai Pxny warrania pr aaauwnal Parry . route. Both units. Two kitchens, six neMh banttwsery tgap apln°raerwprgv,de sepv.ui6a.ana hay anysuMrdl n,tp s¢cr,r,nes ~~ i4caei4nlTwabedro-maandthreebathsin bedrooms,6replaces. View 4f valley.New[y. °^ ra m m.et any regp'red v,ymem qr aap6rmilleainseumnTFnerebnmarauawmg ~. V ail'f molt diselneeive and eGnvenient spo r. iranoar tram wen was rM Tnwn shall)^na~r vrwraldns must {rat be aatrghea' leered ,,~s7 hags amctuoca ataraad. LarrTa bgaPr,.p>,e to: ahon. ~,waa.°<'j~~.aa ^' ym~ey, an' a dpa°'.7`<0! "araYn ^nde o n,.,r qy ma v $272,00 [prage. Both sides of ibis heav[ifully ~~ hand and acdp"Ninlpdylu~ n anynORB account diner inslrl,menl e~tnarizlrp the ~ssvance al Vail IiSlahtp III Most aFfnrdahle one siruaced duplex-an excellent investmene at~ 6x mtaom andalaaat ss.mq margin wen s%t^o,°ii °^b em!IJne?ra,,;;"aisPr~a aba ,ia _ bedroom aparrmene in Wcat Vali. On Lift $202,500 ~ e 16in sE~cnnenine qwn anelunvest rye aetavlt in matirtq any payments has route. Owner fiiwn[In ssibie_ ,am y' mgvirBa by - g ~ eat not lean then nuestenbany ell of wo $B ri'en 5 hereoY. $52 500 amdvly wmcn ww nvI b0 nBBdep aprir,g auto Izi rriatwic Rerenma Teal, rna Pietlgetl - Single Family Residence xlylwlaav venpd easepnd aay mpneysno Lana rnnslBr Ta. Reyenyea,scen'uea byan I Spacinm Matterham Duplex: Three ._ aap°ail In anmar6at b6arr,p Sgnm n +nampBadenl Accowlant ao~~~~n Ina Lat Commarcld Bank, wahpul r rtl Iq wnelher °O Ptele F scar Year 'mmev,aNry precedrn bedrooms,twoendonrhalFbaths,wlthloft ~ +,-~ sycnmpnnYaare6raertadbegye~au,taNgf InadalemWBaS^enaea orAtlanrgn~ '' andafineview. ~ - d¢P°augrgtRerwlsO.Pampamramissernpn PA"'Ywarra^ISaromarPamyserudnpa,anph 5andatane: Ors the bits line on Sandstone "~' - w end setnm so heregr: Des ma yawn is rot Hera a>aBn auniav6m w pav an amount at teaat i required Iv irrveal. oe so to invpal in SvCh v pAgU¢I to 135%of iha sum tleYivptl byaddmg ire Road. Two had room, one bath nn r 1, mgnesa aq[vomep fw hereancer •ag. Annual onto sarr;ra iqr ma ' if ahn6sucnrinveslment wppq Cpnlravene ire nu[alantling warrants to Ina Average Annual eondaminfum with Q gnat location. Has ova mcenaernin9 v.bihape in Section &/ Oebt$MVice lw each and ereryolner issue vl many ppssibilitiwa $72,000 nareer oalstending Aadnlpnal Panty warrania r ' 0. RN uability for rgases mcurretl peso Parity Secvrtlies, plus the Avers a - Avon Townhaluef Beautiful law of wrfpm,ing Term6 a orgmange, N6imar the Anneal nebr sarrma mgwremama I r tie Beaver Creek ski tuns. 2,250 aq, ft., three Tqwn ngnn pwpdalma town shMi bauaple AatlarpMl Paiy warranra Br Omar°pamy bedrooms, three and onr•half baths, loft, 2 qr relPpnaihis mr an was reaan,nq"rrom any ~~ r,tAlda Pmpnsad Ip be awed. investment pr r0~ny0alm Bnt sae i 1 I xnp 4ni¢ Reserves. TM1e pmorapeags tar geragp, recrcatlan room with six ~prrs4n ~ a dente won rn,n ordnance, a^' r[ am uth aaprnpnpl panty jacmtl, two halc-nies, aulted rellin s, ~~ o. an•rpcaw pl Funaa. Tna mar,ava in am a e i~anhed°Srnplni rorotl~ce iorine'e~~iislrot i g Sand Mlmn euthoruetl shalt canf'64 ai Idwlul fireplace with marble health. Tastefullydpne nwrtey or iha unnee shies or my¢ylmenb aneya w me Reaerv0•FUnb bpm any Bparee Fact Veils A home on one of the frost wrmalad ay sechpn sa nargpr w hme .yrn legacy ayalbae m me Tpwn. aed contain a by a professional dec4tatar. Ask For Jlm _ beautiful lots in town. A 4 bedroom, 2 bath "a0"W' d 'pen ny6almanla Mpneyp F~pnani s~omop~iariaaai ec~eitoinan~ere9e ' $I95~000 aeppagea in. eemend prQme aeppalaptaunl Annual OBw Service pr she Aadhanal Pml home with e 2 bedroom rental unit. The wdpncetl byapaadlcala of aapoeu qla y 4pmmdclal9anN Wrsuan[to $oclianS SA ana Warrens ar gthx apdiadel pprllyStturillea. I front [awn features a creek-fed pond. ps ngrwf. AppropnalBlyaepdea deggrdngm wh'ch amwm anaa be ,r addn'wn tq me ~' I Property adjacent In National Forest _ ma laws of ma smle. anaa ba aMrmed lawrw Amaums raga,rea to be mamiainea .n IM d3~ 000 ey ql wq aortae soles. neseme Fund wan rescec[ m we warrants pr E. Aceelaratev Paymenla OmrOral, Nermrrg a^Y Other Adtliripnat Parity Warrants qr • tor,ralned h0l¢inpravenls lheaccumulalion rn a0tlitipanl Periry $awrrtles issues prior l0 ire ' any funtl here,n dasignaled Pi any monetary PlopOSed partly Sewdliu. T Commercial Spar regUmum raf& IBS rn B`Cp68 maya„etM reied~ pa~4iy A^N'lermintsd Pu ro°Hd edtlaipnadtlPiAO"lay - An excellent location in the VillaRr area- inerald. sm n pnrmem a ailpea~ w s¢camiesartaa,.eaa9relvmrrnaa'rposeol Crossroads Shopping Center. Parking eciaxawa a sucn accerembon aMn [soar a aging me coat qr pmiecra of ma rows . ~ avnilable and display windows. Aqnod lease, eemt l"rna parmcnt pl env gbagabpn of me ussr,q gnh6 aggw5rnonplreal p,pperywr Town padamma to Ire Pledged Revenues. parRa recreallgnAl. open space or glner sim'lar - 8 years. 4 t9 sq. ft. Call Svc.-.~ $30,000 NmNinv nara~n tomairga equ,r.a m purposaa_ Wnt Vs11F 8nd unit, two bedrmms; two rannecngn win Ina Pletlgetl Rerenv6a n I.Saance of snperipr Rprrtla. Ngw;nq baths, brick flrplaee, expansion possibilities Local Bealgly Shtlp• PFUfi[ahle commercial raCeivotl many FiSCdI Year moaccUmulallgnin here,n presents we IeauBnce by the Tgwrt p} vvm are. P€ensc• call Sue f r information on any tuna d a m,~ tar a perme^t in me AaaiopMl~P.atr General obhq® enraa ^ gl l2r~ Comparable BgnOn year sal Oebl Svrvee payable from the Pledgetl Sates Tay RCyenvas Ih11 K[Ilnx bust Rell. AagmrBmenls tlue in conntttion wits any ana Cpnalltulnw n lam on Piedg d Sales Tea apn0p oa warrem5, bOnps Br qt Mr ae4unlie5 RARBnuea on a p&n!n with iha Prior Ganaral Payable Irom Ire Pletlged Rev noes aM 44ngalion Randy a d superior m to hen I-uta harelgwr0, nvrwn or Mrealler authorised. ,n Iner6on of tn0 Wananls env Atlditinnal Ppuloy yyy ~~~444 ns pr sucn Oebl Service Reyuirenrenretlue Warranla, ar wevenls he rsswn I ~;.I Out$Ta nJinR !-ocatinn at a Great prire! erxsrth cgmparpbl°epne rear prm°.raasar - lIr Hlghlnnd Mcndnws, Lnt 7. Filing 2, .q I Here any rpspnap requirtla m be accamwet¢d ana- ~ Please Turn IolPage 47 ra V dupivx Int ffyca[edin n sunny, µnriy sfnpinp ~• measLlw alx,vd the Mdttc•rhurn area. Water, ~„-~ .~.~ a•u • , «>aJ hl he in by SpriRR~ Well below mnrker prier ar $BU,C00 r W11Jridge: Twu b[•nutifal lots, hii;h anal hill ' ~ 1= . ~ I ar the end of cal-dr-s;lc Fin:mring avaiiahlc $60.000 & $62,000 < y Meadow Crurk Condominiums Thrcc interval Ownership s/ Thomas J. Sheehan • Broker hrilronms,fwu and unc-hnlf h:xhs. Slr,ciuub Uwu prate [ti V,ui for ender $10,0001 mwnhnu,a• with hrauriful€y dL•caraa'd tirveryl tint rimrah:uh oplerrumitiea in 4034 i_, $th Ave. Denver, CO 80220 (303)388-4152 . innrinr anJ dreomnrr Fu rnishings. Fin•piucc, rntcrvnl .ywfn•rsh lp. decks, arven'd carlN+rs $159,000 Rentals ' New snit., hnyc ilia bv[om.':IVndnble for the . 1979-19:1i1sklhgnntfh.EllstVaal,Vipngcaal:l for sale Wr.+l Vull Ins'au,m,. 1, 2. & f h.-dr,arlu rnWr,„, °nRr' Eagle'Vai] Subdivision Filing "1 Fourplex Lots - ~~ ~ ~~~~' ~~ ~ Please contact Thomas J. Sheehan - (303)388-4162 Office, Denver, Colorado ~ 141FirvstMeadowDriveSuite$210CrosarwdsCera[arVail,Cololado8i657 - _. .. _. _.. .a _-_-. _TeleplirSrTC:(303a47G•5ROm -- '~ - . .~ ..._. .. Iwmer tM gIP111Y of me INa tar !ne peYmanl 1 IRe nlPnalpp. eewNlrM On Ins Pledpea Aawnuaa le tlurry. I tram the pwriry Bt Ne Aen rpr me peymerx of fM relpneed Nwnl~98 (eace0l ee proWEYd 4s Sa0lyh rat'. PlMidea Inal Ins 4Wnge d My eupnrNueWinp Wehlnle Or Other lHundroeeeuAlkl Ibul nPEpanerdl a h~Alel Ob1lpAtl Pn eortael lYnefl pO WOiml to Ore Idfpwfpg eed11MM nQulremenle enp cendawn: • a Oralnerlcy Nell Pdy Irom Ins n me mamror s~goceeds al Erb getl PnYwnYee, or ney0. erN in np EI 9r enpenNe W a cnvyetl tp Y,a w. The Town will The Tawn MrepY Partk4hrlycpvanhnleena erp eee wllh Ne BblPere el Ins Wernnla eM Wm penelmnp lnento Irom Ilme le tlm0, arw maNei maviaionewhlchahpll neepart Pl Ib onuecl VWlh loco MOWma whieh cwanda m gwi4Pne enAll be Yepl hY tRe Town GOnIm W W ly umll all d th0 Warrenle eM the IereeE IhereOn, hew peen logyy pile enP piacnerpea, re IRB ellecl aM wnR Ih0 PUNaea Iwr. a. amenamans Pr orainenro ho. 2s antl rn alh canllnue m +mrr. Impose, eon~l Trenaq of ReaelProparty l~n excB01 Eaempl Tronelera In 8awkh OraNanca Na-'1e. ifahwl r Sh InS nlupr l4 platy renrne NO epege a . ~i~l. uPeramhme a io ~ei iecu i tlu'Or< alE l n re a parPde I Impaen rom eny PlePpetl Revemsee iNp be 3quea o fY slur wmor4AllOn Ihersd by oralryp0e, Yev or eUpplelnBniel oralne ,peorolnb HlllSYmMlol NPa~pE ms Town caunga tamp Eha Por~ow q axWr~w,pdirectMph fee 0911r~Allon ol~>d~ie u Teo- Te~nali rpma orpurppeee, nracee01 ln0le01 lP eucn p ae ends t.m.l « amentletorY {Ily dPFetlgetl RrvBauex mtla Br Prgecf: use PI Iwlar Tex. Tnlwe A not b enY Wr, eBllen ar r ellllmlrp rM Tawn y coon, pltrator, a olner ~_.a.....,,,..al aSnevMk118Yw go'yol pope NBB. 2e And NB Ibn of Ins Lena Taneler rry or Ne Tpwni OralnencBBr artlinance , IhB enfant pevmllleP by 011 maY pe nfeaneplB Antl nquintl l0 OenY Wt the purposaacl Ihw Ora'manca. Toe Town, 11ng py ens lnruuggn its ofllte n, prolner WeO, Nail at ell t,mas, to the Bslent pxmineP yy lew. tlelerW geferaB en0 prdacl th0 pletlge al the PMegetl tlBYenPBS arw plher ~antla ery e amp raagea nanumerantl an the ngnte of every reamer or any or me warra~taa9alr~l an claims e.~e demanPa a[ all Remme whomaoBrar, H. cPnadipna lfreneoenl. uPBnNg dero Pr k5uanoa of eny or the Warrenle. eh CPrIGIiMa, le ane rainggaa uunBa by meeurorndnmar laws c! the Uniietl Slates, the Conatilpeon or panermoa precepBm M O. rn Pte ieauan00 0 Ins Warrants shall B.,sl, have neppeaea am Pdease Turn to Page 42 SkiAPIRO .~ REALTY LUXURY AND PI2NACY I Two presti®ioUS units atl located an Veil's PGA ChgNtpicnshrp Gglf CaursA. ~.riat, prNlCdeuNroundkYg9 ovehookl(n1yp beautiful Gave Range and aspen graves ' Herltfld otsidnp pool; rxYialB sUadBacks; shUTtle SBfvICO to Vall Vlllpge. only 4 1!2 minlsTes away; Testaurant - -... wPMin walking tllstancs - . FALtRIDGE Ready fpr (mmedlahB occupancy. Unit Na. 417. hvo hvo halts with •ck-off, south expOsure. CgWrpeted. draped, and furnished to sleep Six. Saunps. JacUUE, underground parklrTp. 1,144 square feet... 5999.906 Available for occupancy January 6, 196Q Unit No. 706. four :n,,,,,,,,,, a thr9e t7altl with lock-0R, G..,No,~., and _ draped. Completely famfshad. South and west e>~osure. Saunas, Jacuul. underground polking. 7.676 square IeeT... $269.000. swv~~RO REa~.nr, ANC. Suite Cd, raurla9o Condeminlume r..f!: Post othca evx 1347, vau, CotOrtYdO e11S5T (3015 X76-12dt 4 I` f I _., f , . , ~IVes~ern Pro ernes inc. P real estate safes, marketing & investments We offer you sound real estate advice. Crossroads Eas#, across from the Vail Transportation Center 143 East Meadow Drive • Vail Village, Colorado 81 fi57 • (303) 476-Sfi44 affiliated with VAIL HOME RENTALS! Memtaer: Vail Board of Realtors:& Vaii fviultipfe Listing Service The Val! 7Yai! -January 11, 1880 4Z limhehan. me proper eegrepetbn t n RweYanpBe fntl flle~apd~ahm nomp0¢p .iiilllr' . ~ ~. - __ .. .. From Pa{1e 48 `~2 The Vail Trail ~ Jonuory ,1 J, JJJ80 From Page 4J rdwn, ACUnq Dy nd mrawnne oPlnn. Man baCOrrra wrebb, Nl rwtplnaima.naaremanaa ..._ NNhtlalt aM eNaN raupnaeta rpya eM fa latwr. met«lra appWiaa er pm« pbfech WNrenla tD M arbdrage bOM9 witnln It,p ,ne warnnlB. m an egVUW Np peeled r pfBlbnin4MAE0.nRpi1 tM ~I~canud nuNe Vynan IM Plplep Dr~rnY ypp `nt Ilia ml, pr lMa q0 entuB Coae@al /k5/.tlaB imenCnetl. uneieaal p ar~eep, Ir,a HVldsr Orr HOb n W aalaehiatM1ann M IerYbkk pl me RvDja~DL TM Tpwn MAII PleapqBa~d Pavetates:LUt mlliary MreM requlrea Hoer ¢nY previabn Df kw nBreeM1er enacletl, IpA in principal amount 01 pse wallaqu tnBn ol»Yye ana qfm elf dl Ina ierma Bnd IM 1`awn to Inhn ap IDe Im«eal paid an 1M Wananle {al Ma11 be Oulelentlin y e gttkia n~lna In Nu d~nenp end lomehs prpv~aiypn to~altV~Cneex aanaessmanl~ asdptlable lrpmth. YDaa lnceiM da recipient paOCeee SO prdact sop tp «rleme the 1•pM D1 iehga~lulb :~em~n i~d aisdebyn 'Dill' uantu ed~gaaadpai.~il NmeyNlaNy mar"roel ;wiry :o `wB°tt¢eiiw a: npi lone ,r:aewiinpat Dye a. i~m m:l etae:mr:~;eniiol~Ba endW epprppriYBl abaB Biandirp W«nnbanptaewq MgielatW%BxBwtlW.ltlMMSlrallve ar Ntltcisl pxaeam~9 ge bonds. nr lbl Mell pO avempl Srpm all Ov OgAted[plN bptly applcedklp the Prgeet Or lO ms Town M Prpnnion el fiBep.ity. Tha Town, rls i^Cpme taa«ren. .i~nle DI the Town prow any agnemenl D7 L. PeymeBl el aor«nmanlBl Gnergea_Trte DXkela, agents Bntl rmnpbyeN. enafl opt tAFe SECTION t. Oebaaaile. c trod Imptyinp the PleO0DDBBd Ravaniay Tdwn Mall WYOrwuN bbe Wld anrpve, antl any ALti,9n rn eucn numrraepe Wqh BBlent as When «l Debi 6arvlCa Repuiremenla Di me nwdirao~rbr lO the elbct7.e pea WNie aealmanu D p1hA1 mdnlclpal pr gntpe33udlcemeaacyritylprShelsaYmeniol WarrgPtahavebeendulypeld.lhePladgOend prtlirenu thergAlnr whilB y of the goverrlrrtaMBl qh Ypp.ilemy, bwlVllY levrw or the Oebi SerybeflegVlremeMeeltnp Warranb a and all ObNNBIWnen«eOnderNell lnerepY We Hanle ere OubnMirq. Nmhirp ngreln aiNNetl upm or fn rep¢pt 4f me Prolael, or aNtl any athBr Becudllee peYeble 1mm InB De tllacn«gedeM lM WArrente spell np longer ~B4u"ea IBe Town to poMOtl a! provllfatl ' Pon enY part lhNegl, pr upon any podbn pf Pledgee avenues apDOrtrirp l0 Ne ,arm! be tl0Bma0 to M OublBnalnp whom the wain ilitdet«mrroaamgppa lYmena wlthoul ' 1M Pledged RennrN. whin he NmB ehall IMreol. Np COBIraCI !half M enleree into nD+ mgen4nq °} rra Ortlhunca, There shall be y abuN °! Its tliscretron Nat arch anion b aaCtlrN due, na shell tluly pDlenw Bna any pl Mr acton bkan by which Ina ngnla of tleamad to M each doe yAYmen1 when Ina liNalY IOIIMBCI melerNlty ar,p ProlUtllclAgy lM yfy Ith all vllh isqulrenwpls of any any Holder of any w.mBnl or other aegpnly Tpwn nn placed M ewrow or in trust with a HoltlBra D} the OutaundOg Wrnnb Bnd arty mynP¢rpelwgbnmmenlalWNprily r@ubva to wyable pr)m Poetlg~ Revenues mlghl ba Treat 6enY lCCetedwpninpv'ItMUt the Sole. outeunerng paAt~y Securilim, ` Ina PrOletl, want/ ppa tnppr, lac ePl far enY PrelvdlCiatlY antl IeriellY lmparred or aye pr Fadenl sacurmee in en ampant E_Pndence Ol Seen nVMNera Any rBgiwaL p~IDtl tturing Ma41BR ma me a hpltg tliminuRBd. wflrCrenl {InalWlnnpplM hnpwn mihrmvm ymltl Oneant Or purer Inlsfum¢nt wfilch mb - ledge In y Otl bNh by proP« IBgal N. MpuniubtiprONnMreN Oblms an gtler available !or alGhr purprxe Irom FeOeret Orgl^anvB mBy require p y permit to be prulWlnp. TNe Town shalt opt meta w y prgvenl My c umulNbn 0! pdupmna or Sewritiee in whlgh eucn anWWl wTnly w in g,aQand to be asecmed byuq Hpttl@rdany ' Ihefpbe nealBpany 74n0lcMrrpB Upon [hB eulms}OrlNrnt alurmetplity,,ne TOwnanau wrt may Minitialty lreeetetlyurrieN en Oebt y''a'renla or.pimq aetlvnlwa may De In one Prpj.et, p any wrt IMrwe. con ine noltlhectlyw NOlreCrty estena waseam ip the SarvlCe ReWirantanta of MS Wernnb. as the 'nstrurmeni drv Nun one Inat rumen! or Ptepyed Revenue!, Bmcapi iM plydgA and Ilan avlBnflpn p11h0 lime br IM peym@nl of any game becpm@auam InB 11nn mAlUCltba of mB similar Igryr eM anM M aiptatl or n,ey W Crblb by erb prW nangtpr [M payment of Npppn « claim for Im«NS On any of the Warrenle ar upon any Retlenjp'[bn bale B9 a} ei~ Wletl by each NetpBr in person w by hb In~ Oak! 60rv1p Re Wiremente aue In Warnnb Or arty mMr eeCVrmea wYade nom whlDh Ne Town Nall have exexieea or shall 'a°eV aPePointBtl In rllirg. Pro01 0l tM - eolipt wbn iM Warranb, and BxCep[ q Fetlped RBVgnuBa. rH ma Town ehafl riot nacre dH~gaue kiBl} !e ba ib prior BaecVlim 1 any Inch Inelrument a of any hemin dnarwlN gimllul#. Tqa Town NAIL tllraClty 01 fnalreelly W • party b or epprovB reaempl Oplt by a CBII M Warrants Idr instrumMl appdnlirvg such anp~ , er tl,a PayGor cBUN to bA tltlMe!!(yygetl w shall mlFe Yerrenpenbnla lpreny each ealenaipn pYipr wym Ml Ihen. TM P Mal SBCUfiiiw snail noltlinq by erry Pan@n pl the rltie, or w4hinaMibty (lm) tlaYailRnBr HIM tllaBnN^ell tphpav WrPBBB 1 keeping eve any pf ucR n@CBrtw tlue pi« le Ina reapecllva times et f«uPOrD Penalninp thereto. ahNl pa euN{cfanl aura Ip1M1De p~ymeM OOlany9yphcourppnelpnal enY wcim dew wllh~e 0Ch0du1009111atl1lhod an0 Iherwre9phreere neaprmaatyrprOViaBtl)NBCrN0e7Nm aEMrsucninetellrmnl Dl lnlereal faestpMetlln agr@ea upm betwwnihe TOwnena eusn bank =hB tpllowing manner - epmfnvBnllm Nlnarareg°ingpprPyidpna,9ugh at ine time oltna graaNpn DlSheeaOrpwpMrust, I,)Prool of Ex@CUturt.TMfetl artl tM tlete c upon r Irwbllmegs pr lnalaNmenta of the Fetl«al SBCUnIIN lMA be ¢W1eCI IV Ol lho eaBCVlwn byany !boor Ol any Werrann 'term) slur eucn exbnabn Dr arrangBmenl retlemptmn el me op11Dn of the noltler Mere01 Or etnBr uNliea p hq Nlorney I ucb ' MAN MI M tilted In W!@ OI tlelauil roaaaure euehavaMMlltYae 60 rtptletl lOmeet in!lrvmen! may be prwea by Ne rerlillCeb. lnereuMBrblhB bprtBfit arlhe mcurity pl Nis such acnedda. worth Head nOlbeacNnowMpgBDY werilletl.DF _ prairurkB, ekCapl upol Ina wi°r pe men! In en pry!^.¢r I a Want a boat company 1W1 a11M prlnclpal pr all el lBa Wanenta antl 6ECTIpry 10. Oalauli PrmblOna and NLSlanory tplhe Tawn Gerkwal enynpury yeucnaBCUdlin er Opv the R°mapfn of WmrtanlhOltlYa. Ni0 pr mBr olllc« euthpuee ID tak0 vfibh hasnet CeBn exlana~ed geymenipi q Esenlad Oelaull, Eatlr of th~bllowing eckr,pwtedgenwntc Of tleBal tp be recorded in 6 PrOmp[ PeYmenl OI Warcantg. Tha Town venia h herBby tlaclamtl a Bnp IO InB Atale m which h0 pprpare [D act, Ihel ,ItB !hall DpmNtuip an ENnI OI OefaulC - reP~Ompll~ PBY ran Oebt ServlC@ Ill Nprgaymant of PNnclPal or Premium Instrument aCFrrowlsducM1 quest pr plh0r Rend Ia06vBry a NtthBPlaCOS.on payment ofthe pdnglpBIDIBPVOIth@Warnnis, tlut gaptePimlhe¢xow[bn, p the pal Be Arms m Ina rtunnor epacllietl Herein Y swan b belprB such nmary Public or EAGLE RIVER ~ ens in the werramaandmtM wupona merelb rAgr°,"y P1Or ledampnon wemium dyeaeB atMr mfirer; the amnpdty pr malryr~gyel« Hen Narewtm, pr Mm, la n aiYlaaala e.ecmin ~~ mdaininq WOwtlilg b the Irua ImBVI ens when me same hBppmg9 duo and ppa~ys WO, benatF Vla rq rppnte h01~Ol any ueewnjtrea A P. life Principal antl rnureal end Rasa NB Ner at melurdy dr by procepdnga for prior ay be eatablimoawimwlruhh«qoo}IlApcn II[ I,ND COMPANY Fu Me. The Prlncii,elAM lnbreal FUnd enO lhg ~INemDtiOn.Or dharwea; lnslrument i9 ignea an Raearve FVM ehAll beucEtl lpklYAntlOnly.Bgtl 1 Nslal meni pl iMGrB9[n1 rwl male wnBn aB O mautrRntOrporel en rN/N ~0 crw pw el Nail 132 I~ftC)A17WAY • l30X 811 n:ney pMMged wia0rhe py°l~i »oiPavinra ine abeeomeaaaeapa payabbwwimm minr dryeaam aunplea by.n iiMWiwaPPS~ePOrtirig EA(il.~ (Y)i.bR/\DO$IF33J ~ MW6 RegwementSgRheWanannl0 I~lppyelh«e6lteq loMitssenalaryoranda¢inaolsecreugq 303-3'?.f3-727(3 heb uepeCNra meSUnuea or any R@Bemmion re:eo i°`n°nbla t° P@e@rm. ine Town fw any antl Ina amnpriiy pf any Person or Penpna ONe or R dam lion Dates qn whim me Town lava l! renaarea. IncepeGe of rdnNing uapcuurtg any 94Cb instrument many lieuaAry all else tn.we.m warrams, sub ea tp me rte4ml~oepns ne+epnaec Dr repnaemurna capaen Y g t f I rpertormence M pytleA. Tne Town Hopp! lunnrr y ma ty eeleMisnae INTRQDU~ING pprrmmlim°A GgnCBl;iny a plus moneys m AbaftnBrefellBdtecBVrypuiaMlopBrtpmler at db prop} d wc~rW firg~nlNt sengn PO antl BUbe4to SactiongnBre01. in lioptl }elm le bey tea performance pit II Bch fipPm9pnixPerwna O. Atltldlarul seeurilba_ 7M Tpwrt Nall np! ac antl Nlrga lexlyllrr'~ regiared ip b@ eBYriad arM Y « mPreseixalirp rapacity: ntteallarleaW any berWaw etnuriliaa wyeq@ Wlpr 1048 pertprmBdpy !tuba«enycOnhecl EAGLE- RIVER ESTATES Irom Pledged gwatwea er ~an the elating m B Pledged Revenrree, fo Iha Wavans ai ohs ocepiNn"9r9j~ T~:n;,empie t~ Wemnb wRNMUi cemPibnG m fie proiaOt, 0f 10 all wanyrwmbination rh«epl. er tlellyery antl by Y Penpn axecu'q SUBDIVISION egptremenu with respect l0 me iwuenee p} nernrse FndWlnp~ mmwt Ymilatibn. tMa ~nnr meat as a ndaer pl securpiea?ens ine AddllbnAt veiny Weuenla, Atlaiilgnat Parity prtllrenee antl autlr laitrrte shell cmlEnde for ampere, date Bna otMr IdpBBncatlpn there0k apes iorlit l~ieb~egn Ion eqm. pr pine. Ncrnusa yxlr teal eava seer rBCeipt of Hotta hour tM t with befautttul lblson One mllapf Epale Riv9rfronfCpe. Lott ate nose„ pl an to ~ elntt wtln the sate } nls ngla'Ing me ptleed hour 520.000. avBr i 7! Ixs In size R. oiMr Llene. Omer man es pmvipao warrants Nen oulatenainlpal ampum or the unnBa, maybeprweaaa amniuratewnlen aq 1~ 8 end OffeRf,~ n«Bln M!B ale n° Fem Or encumbaranc@9 el 9~ neap not be acFrtowletlg or vpnaed in form Sfn~nngqfB afld multipl0 fdmlfy IVing Poieet &7CIUde all env MlurewhNaoeverMpragelg9l lRa Project E5}Agpdnlment of RBNivOr. An oNer Or seaafanory lD the Tp wn Cl«F. executes bye J llna9f{ffOllnd Vf[llffet an';( $he9f. Ea ITCO'egs onto i-7~ rent' paalh«ol, pr On Orageinattna Pletlgee decree enipmp bye Cgivl Dt mmpetenl a bar o}a linenCral lirm Or by an dlicar pia - al the new G vin Int Pa'~d ~ ft.ranyN peones p ld a a.iyad. iu selarpn, wvh ma coneMi p acgwNCa.ica Bank Br tiros company, hawancB c°mwpy Dr yyepss 6yChatSQp dtle to open f his fall, Owner' s. nieppNl of PrD'en FrmRlwlea. Exaept as o;`°me vies Pp°mung a mCalver Dr recelran }manure! rpwabon surer depDaitwy flnoncingovallaBfe. wwraedlnsepopn~gnerad.rteunarann«a m pea RavOnyas and any Diner aatlaianprylplhaTpwhCEerk.pbyan1n°ta` ' Mnnllel pare pr Ne Project ehaN be actg. Oneys aunt@d N the lien a curB In0 a plie o other Orita¢r lRariaetl o mongA9Bd pbtlgea. enqumperetl, arienelaa Or peYmptl OI Iha Warrants, or it Amy drtler or krpwlppgmerlis al aeetlsulo be npdtled in £WCHES~HOMES~SUSINESSES pmarw;aeare dptdnlrLNiatmewpnanta Decree, n~erg d.an enbmd bDrA lna mesbleNwnlcnhavarPensbaeLsnownq« pore a gUbSCenee OI the Town, Ia MI the dale therein me MiOrred Shat eucn Person LAND a CDNDOMINIUMS nine MBn Pain}p mu, as m air Oebt semNa CO`I tae c~ d'spnareea or abyap pn appeal Banibltep to apcn member, Dnmei, cola RagNrBmqq',[S, are unleu prpneian nee been Wilnln sivly Ital days anBr Btdry: blic n om« oNicer so BVlhw¢ea tV lake MNro S'mpldt-Pu011Bf &enda 63026 Islprtllp JJaCe atle 1MreYV r nNt me Wanenh hevp Iel Oabulr d Any Prevision. The Tpwn aukrowletlgemenl4 di deeds or naa an tlepeait btafple,}ahrlsorl (303) 32&7776 iMrwlaB geali kd:emea, ;nnatling, wnn@al maNes am dal.ylt in me ape p nciy.l :Im aasneepomtprylMaegpr[bes deacrlpBpin limheapn. IM termination pf the pladpe N pBrlOrmanca DI Main luthpilad. anyB nth er ! Iha auchrce Tillcate: 6wmry norrpe EacROeklaipdrHwN perwgr rePraeenlemm~a. a nl caneilfone, t n CbrN Y neverm Bless In M1fa 1096 Dlecount fOf Cash I q.inp custody Di Bny Poeegan.Revenyes Dr era.m.mu er.e.atn:r pr r. our cant toes w mapreliDn iegwm Ipni er or Diner vrnpl m 'Oros Prd~taaCC1 RsvBnue; a reeparnlDla be Ina warrants orin this PprtlrnBnca on iu wtlw u hIXe ne tlevma the same edhlebie. 1 f~rnendfrrg, boat! ba hdiy Dpndeamlalltimev, b_a palOr1med. Bntln sycrttl0leullOpnllnuee lpr F.lVarranty rapenlwuance of Warrants. Amy ' rpn ppn9 Malt M Wnerilpn@d upon ale e~Dh tl~g}a IlYentler wrlnBn netrce, apecirying DI me Warnnu Ba h«ein prpviepp, when salt' popar epplNatlpn ql NW moneys anNring Ne came to be eaaeutatl antl ael'warae Ipr the purpps0 ~_ V. ArbNrepa CAwnanl The Tpwn r-0vBnBnb r meP4ed, laprvBR tone TawnW he Hop«sol prpitled for inmis Qrtlinarlce ahellcpnntil Vlea ' ~~ wltn Ina ll~~dtl~~ a DI t1l WernMt ma[ I[ will q9v rR annclPei amount of tn0 Warrants then ty d y arc On benall M the Tpwn iOr the ' ~'~ - rrrlFa nO wadli TtaB/MOItne Werranle slant' ~tllantling. beneilt V}pd Ch antl uveryl{tWrOHOber Ol enygl Nina tluring the yrm aNnO wM1lcb. it aecn W@ B. Remedios Potor Delaulta, UPVro me rhB Wernnte Vest InB W~reranla have been hatl bean rBa,pnably npecletl pn thB QBla IM EvpAIE VI O'elwll, nalprevlped in SeGIDn l0A acun7nmlry with levy bfe a«etl°n in lV fl NYarrenb an paned, vdipub n0v! Guaetl tn9 hared. loan end in ovary case the HoltlBr Br e. ImmuMnes of PumnBaer. TM PurcMaBr Ndtlere pF opt t 9s than 1g% in pnnciael cry ray aespefate memo} emWpl p, Ina WBrnnta mgn Outebntlinq Cbhgalipn to any HOlaer Dl rho WaerB stll@prann ' inClpoing. wthput IImVBIIm, hualee action that Ineym y Or may n0[ to Ne.w i nWleBa Iherplpr may proceetl against IBS p0ct planythmglnat !Rey mayormay nettle Town anpltBagenis.o lf[alre antl emplge0s 10 by ivr indent' lntprmallOn containing many S OF WBpinnlstar courN me ri nu al any !!clear ^pwje Or otnnr deocuments rec@iu@d by them SUN: VA 1 L .CONDOM N I U v Pona p~ InH prainn~p der tnB worisians °I ml6 Otdmance. The bym tlamuawOYONerauk.action,oi spenBt Immunlliw aM eaempgpn tram liabi lily of thB croteeping9 in BNUlty Oral law, in any COpd of PUrphaserentl any eBapcimelhtteolherBUnaer m~Blenl juristliclipn, Brln¢r ,or foe ga[endetl 10 Inair pertnern, tlrreclora, t ~sieamtq lnrsne epe~Ci~c Iwrlormaniaaf elny cOaaa°ra' eaa'grrs• emplovaee ana agenb. i avengntpiepreemenleDMelrteenerein wtepr eVRECTI0N 11. pmandmanl of OVrynanp. coyy wafer tegelwequitabl@rBmadyya Bch A, PrFVilega plAmentlmemB TMa Ortllneitca Is0laerwHpitlera mayde0m moat eneclusl to aYbe Bmentlee OrmMl}i@aby rtlinancea OY ' wOleer errtl bBnbrco thed nn eloresaie, pr hBr instruments tlVly aapPtetl by IhB Tewn ' ' IMrabY SOenI°ln any act or ining wnlcn mgt' n@ Ovunul. wilnout rpCepl byrtoreny aptlrtbnN +w awMl or i riolanon pl enY rlghl OI any a tleretion. but wtln me wriRBn consent er 'y~.,.. Holderbany Werranl @rtpraquire lRe TPWn10 lire No tNm 1 e6% iq-ag9ragete Pr nnpAl .4t aelealli[werelhebusleealenevprBCaae boat amwn[dtha WanarRaeMOUdtana opal ma '~ _ pr any cambinalipn of eucn 10metieA or as time Dt fns epppllDn p} EVgn arwndelpry ~~ 9tMrwiae meY De aVmwraetl byany ibtV lBw °rd'nenOB aplRerirelrumenp intlutling any - OtlserproWeidn of law. All such praceetlinga et OVI910ndmg reruneing sec rillea es may M bw or ~n Byy Ily shell ba Irtatltuteo, hap enq N9ped !or the purpose DI refunping any of the - _ malnnlne0lOr me equal eprprl pi all HOltlen Wrranla prpyitledthai r,p 6pchamentlamrypr - Drina warrama any ParNr senyruia,, .ry m, moalryrnq bahpmem WRdl wrm't. ` _ '~` oVpOrn ,Hen Outsumm~g. Any rec«v r or 111 Chang rag Payment p charvgg b ma ~,. - ~ - Dperatin9lructeeappD nletlinanyprpceBbinga mater ty or I IRa farms M rBgBmphmn °I mB -='~.-~ rowobcE lherignts plwcn HpltlarsnereurW«, wlrtelPat pi any Ouistanpng Wertent pr any ~ it' the coiwg0l ro any 9pch appo nlmenl belrq Netallment OI interest Ihereon~ r s- 4. ' ~`- ~ ~ hereby BmpreaalY 9ranled by ne Town m Y [21 Reaunrg RBMrn A r uqt pn In the ..,. ~ ~~~>,:~ col eCl reserve antl apPty ell PletlgM RavenVBf rbnpel amount of enY Wermnt. the role p1 ~~ ~ ~ ~ ArlBing eM1«mp ePa0lnlm0nl Ol SUCh receiver PMer0a1. mPoa yBe pr enY Prier redgmPtipn Operating lruaueln tlroaeme manner ae the Prcmlum nneMrpn Nerewlth, Tawn ilseN might aD - moot me Opnaenl pl Ih0 HOUtt p1 tM My.r RS - G gable e e Pr'wlBgBa CpmWat vO, Tne W I,b ' !allure 1eBY HOIdBr f ram pulatandlrg 171 PrlwrL en Ex ~epEasproWppam Section ~~ f, _ 4 ,i Warmnl [o praceatl rn y ginner herein 7C hereof tM cre Ion pt n Iren pen °r e - WpvF]etlehalinot rB .ere the Tewn,ereny Bt rla P~9Bnrevanusa ranvlrig poor mihetianerlo "~~ ~ - NCen. apenb pr Bmppye@apl BnyliabiBiylpr he pledge weebd by lhla Ortlrnancp pr ryv M~` ~ . jlers,", _ „ failure ro periwm w rrY t a Y tlulY. Nl Eaodiu'°g Amerum@nl Terms. A .v ( a ~~yryM~eeriae~•E~~y,.. = bNgalipn Dr Other commlamenl Eech rgMp retluetlpn 1 the pr'nci cal surd m pr _ ppr Iagedany auto HOwarIIXUVau@mOlBOt1 PerCOntegea of Werrnnb, or cry meedreeNOn '. .,~~ ~ _ ~I bfn adtllllOn antl somata! ve to any olMr OtMrw NBP@IXmplhetlNniptM Vi Werran}a, ~, u J ~ r,ti rlgnl e[wnliega and lnB eaBrc se Ol Ony fight Olherarre cMngirg ins rnn ni of mB ~1 a ~ ~ ~~... IiaN __a', ~+: ~'.... ajk~' .!' D wWllepa bye an benall pl any Holder Snag HdpBry O1 Warrants, whim may be mqp raQ ' iql he dNmOtl a WaivBr of any other ngnl p Herein }p ant/ anlBndment hpgl0: or Outstanding views of V&il Mountain in newly Sun Vaii. Within wWNag@m.reDkEaDnHDrdarpfamyw.n.M Jsl wipnnB. gBni•,n warnnls, Tne I Nau qd anunea tp aN pl mp Pnaxeaaa. ngnn r.ehanmam pfpnpMbsaa belwaanw«rema walking distance of tfie gondola. Financ rag commitments ^p ramea.a Prwdad Dr aermrtted rn ma eepeaandpp„mnamgp>aarmeprpy;,;pn,D, Ordnwncg and as Otherwise wovitled ibis Ortllnarps, or av811ab1e for qualified buyers, p«minBtl by law Dr in equity Or by Oth« I6! Partial MOtlillcetbn Any mptliilfatigna ,, alamlaA except B9 grWltlrp in Section ,7A ana DlhBrwise memrialty end pmjutlrclally Enacting tt6 MreOr, end sublet i Ise eppticade IRe reghte M MWllagee OI the HpldOrs OI bas proviabnA COncerniey the Pletlgea gwenVe9 Ih Ii oI 1Re WYranu men 9ubla Ming. Five two and three bedrooms units available. ^tl Irb pmOeeda of iha Wernnu Nelhing WRBneve+ IM TOWn COUnciE propObB9 1° harem allecte wimpaim mBriyMdBny Holder Amend p mpdity ,His Ortllnence Vntlsr ma From $1fi5,500 to $184,500. }.ray wanlnl to aniprce me psYmMlmiM pDralolgnl pi N~a senipn„itanau give npnsB pain serWw gegbrements ^pe incprtnenbn prapDaed amentlmem by PUbriNtlan et wrtnhrewenam nr me Pmrganpnpune Town ld teapot amenlnrtm prone l,l PDMrunpn..n The wt/ IM Oebt $prwce Requupmpnia of Bacn ygil Treil,V a,1;OlDleaO.il thenln bu5ineasentl Wkrlenl b Ne HnMer Inweol at me Nine lop W bliahing {eM if opt, Ines in a newspaper el r • `ppurlerta a`rasseom wen WBnanlana inlM lint clrculanpn in me'TOwnl, entli the 1 IM ER~IN~ a m pappgs !Je'ry Bola Royer. New y«N IJaw opn is men 7~ in Wsinpa9erbPubli9hingfantllfnOl.tnenina O Duttpa Upon peler.lts. Upon 1M alminr Iinanciel newapeaer r journal nawpenins al any Oi Ina EvBnts at O@fgull ae a bushetl n NBw Yprk. New York, , as clap m 6amim 1gA nerePl. ine TOw .ln tin«mintlM by ueTawnlApnrll^,sueh nplrcp • ~~ES ddllrpn.wN tlp ens perlwm Il propel acts Dn ° De peemetl complete upon I Blast h (~I' I"( benall olentr lOrlheH0lpara Olrh@OUlatantl,pq PuDncBtipn, arW COI>;ea of Soon nonce MAll bB ROpERT~ES wurenu end wimnns ertn'mry maretD tD °1a"ed whhin mini Ism art's soar sacs tau pr0lecl antl tO preservalFe aecwily crwledlw ppplicappn lp the PUmhaaer of rnewemanls.or the payw Bnl pF Me'r WBrrantaentl ppupomana 10 any apccesspr to Yep} Fnpwn [O tnC Tpwn eNVlremBnta P oym ens o {]eat SemkB t=1erY antl fo ell su n Heiden OI Warrants as ,e R pr pllY as the same beWrne nave lurnisneo Inei~ names and eppnrABS to IA Q Street aue. pow airy perrpe pl aararrlr so Ion 9a me Tawn Crerk pursuan, lO Section 36181 286 Eaet Bri /+ p wry nrypNna'~i'arra°ta nrcopPena. aatoanv lgebt hai°M auto notice an.u nrienY set term the 9 Valle ColOradC gt pw~ F Se rCe gequiremenls era O'gSlontlrrg, Bacapt nn p'e Ol me pr°ppsetl amendmem and anen Villa $ Of11e Ip Ise esiBnl a may ee pnlBw M1rl tD aD w, all 91e1e mat a Copy v1 the Prpppsoe emerrtl«ay 9 9: Above the"veil" 476-2113 Open Everyday 6edpep Ravgnuea Shan be card into the tlmance or al M1er r~strnment ra wr the in ine Princrwl end Interest Funtl. w.ln Sne sveMOl °Ihce of the Town Cr&F ter pualre inePectlpn aeephliee nerNfur rasuetl antl OVIS1end' 6. T'mB Ipr Amvndmeni Wnen@ver at any sort' such parivd of r,ma pnaperity wlln to lime wimm ne year from in tlete VI ine = Wnrrenb, analt he Paitl uric me Pnrnibkl cry compbhpn oltne npi,Ce.«amredlobegrven by • H • _ _ n IM«aat Panpfw.rl Pargvsetp.aaa magtlrnq Please TSarn to Page 43 '< A. E ~ The Vait Trai .-• JaRaary 11, ]8B0 r ' From Page 4S • town. Nommg hwNn gerenN me wrmamm my ouch wwnnl. cwppn, pr omer oblrgenon altar an emwn Brwiuer ice calacucnnaeDean eBlrBe if the Tawn C WACII deems II to IM heel rm.ran d meppT,wn orma wb:ic ac la do+ne 0r0~IfhlepalBe DuIHaI Tneollaw40rihelp wn are ne+eby eumgi:adalb a~recledmenter into Buch a9reemanN entl take all eclipA receaeary G aPWegr¢le la effect W le the gwiaione 01 Ini4 Ordirence ene Iv comply wim She If~mrITBIBOn: n11~~1tq4p d Yw, Ynglbeing witnout werranUmilnlatl n0 eMth09plbn prnNeT9WA Cpunal the prinlinp uppnaecn ALah W Wrantpl Bagk~e. ibOndbGeprnsel,gduIVTGMIgedxby one Torm GMrL, cBlhll Celal asnmieY he nuonepry 0u~qured bh the Porcneeer, reNtirg, lour aria to: y !a] me rlpn'mg BI me wmlenlc [b) ilw Wnbra ene I Wntnyof aw oNlpela of Ina Iowa. hSi Callf~n P~emanea wish last. [M aDMrme a! r.IQaI el ln¢w.rrenifB'S6Ap°'eNxa'y the idl Tyne dHNery of me weNanu era ma recNq d me werrBnr purcreae gipv. {~ Tneaxa,~plipn of mrerBet m Ina wercan W bvm bdarel mapme laulbry {~ TYwmeRingolvarlorA:AklenWnla, reCllefs. aNIIC011onf entl wermntiaa provieetl rn IM Iqm d Werrnnt ut Igih m Ihie Ordinance:and 191 A alalemeM ConnrMnp the disclosure ei Information prwidv0 dr anyy WanBnl 0ffaf ng br0caure, preilminary 1liCial etnremenL olfklsl AuiBmenl dfenng lrwler for gpapBChw auyen of Ire Wernnh. diaeeminlet'IBnllvl lirnancl Bl endlyoE B Information cpnceming the Town erW gla WelrBnla: NI ONiclal Slslernenl pr ONerbw CJrratler- wdiunCBf. 1griGLE y. THE LAST'NHEREASCLAUSE iS AMENDED TO PEAO. WHEREAS, She Town Council wanes la impow a lens benaler tax on rrenslwa of real pee ~eleymalh nO TOwn d VaIlBntl to g0vide IoI mg g of InB proo0eda trerelrom purchesB d real gopenV, BM it la Ina inlenlipn pi mB Tawn LOUnca (net el wchlime euHlc~lnt parcels al properly have assn eCpunrd FOR TOWN PORPOSE$ pN0 ANY BDRROWING OR FINANCING THEREFOq NA$BEEN PAID MaFVLL,TNENI r~~r-~ f-- ~µNetaxl ]WILL NOT APPLY TO TRANSFERS OCWARING THEREAFTEq. ARTICL! 15ECTIraN31 TNROIIG M BANE AMENOEP 7p REAp: BECTIDN 1. ImpOSxieh o! Ta. TMIe uNCeDyi poaeealBV pool! lreruWla {W.eHeEIeTiH.~ER by tleem, ineNVnlente. w'fi a, O leases, m any ulna) documenu~N OIDe Ein xlsaale nl nal q rppBr;Y Ipceeted In y10 Town el van are orb, g0nted. LET, eeypne6 an4eorced. EKCHANGED or elharwite ~nYared ra a rested in a aurcnaaer, a purmawa mamm. w am met pween m taenona except as may tie .pBClbcalry BrBmpled Dy $aClpn 5 of mla nei.,anca. SeN x anal! he Ou0 erq payapp er qW limn M toaster entl cpntemparargbltaly tnarawlSl. BEC730x z Pwaona LIaWe rw Ten EACH i flat ANO FAG1 BUYER AND ~~ or Aeliwa, or) EACH parwn orpBrwlu FROM 4fh'Dpe DR CO WNObjectnlo"ineeia.r~mporiaG der Section 1 gbpve. Mall d JOINTLY ANP SEVERALLY I,abfe }a paymepl eI [ne Nx, THE SELLER Oq PERSON FROM WeiPM A TMNSFEq IS MADE SHALL flEMIT THETA% TO tHE TOWN TREASVRER. SEGTION ]. Pellnfllona .•~.- -_ _---_ the PUrchaer ene CONVEYED, o cnnYrecretl IO .~ peitl pr delirered OR CONVEYED, In alum IOr the orlon p1 the Iranalar f rship, w1 Idle, OR rya, enddelireryoi INTERESTS IN IIBi net properly aM shell er pursuant to me iMlutle the amount of any lien, mpngago, verBlR ma Townie OR OEBT~'eithertlneaA er other encumbrance Siren b xcur0 the purchua One of Veil's oldest and most prestigious lacatbns, this three bedroom/three bath apartment boasts views of both (he Gore Range end Gold Peak. Fully famished, k has mukipie lockoff posslbilHles and an excellent rental hlstary. The IgcaUon Is superb...ad~acern to the golf course end tennis Courts, across from Gold Peak $kl School and the oboes. [!!rattly on the 'town's free bus route, Only ' qualified buyner'4 need Inquire, ~3f5,000,,~:~; ;w ., _ M iKATHY LECHNEf~ P.O. Box ~g~~ydl, CGlDrado SE657 (30.319495696 eaat3ngs or SurNlays - ..[., :: j~ ' . A Vai! Ciassic... on Forest Road DEg{gnep and buih With the fine ~~ Tyeolenq Hd t~ lu~gea aw~'satsle h~~ ~ oix,,, Bbt bedrOGra bane _ _:'t..'~ V811 NXege from as bewe(ally landscaped aita Orle vhltg of the home (including lwD bedrooms, kPCChen, iiYing roam, dl;n, end $a4rlal may ba USCd aeparMeiy ilalr tlla snalR fe9{dCrlC'a. Herdamd aDDl9, aged Idalrnrdod paneling, and bright FrDrldl Lhiah walfcavartlgs accent the 6ne cvstbm furnishings which are Ja ra t~ i : ; r:' .......,..a......_r.. Included wtlh the home. SE[:TIDN ly MNdallanwu. ovenenla, A. LhuecWr OI Agree I, NgrN d me agreBmenb cprenwl4. BgrMmenla rePrewnla[iMa er Pd'Brr+C'n6fl euenuea cpnNlraee nerem win mewaname' ;nstrameniel shall ear ImppAe or snau be epnelnwd as LE1XtlRIt7L[S APARTMIBNT rmpBeing any h.DUny.-Bwlgetwn, ar pharge wrenm~, againel Ilw TOwn Sexn4pn la me apeeiaNnnde r In accpN pletlgaa lneremn wegamat the eanerBlpraNt aurr onnen F4R SAS BY OWNER lNa Town PeyableoN Uf gere391luntle oraut Il any, Ineq oe arry Wrtds dariwad qam general prooenr appro~rlete Iua4. c e amA Shown b5' appolnpaent Pleesc mnWci ChIH:k 771oNTae nT Rocky Ctlrtitoper et 47fi480p, Vc'~I~ 14SSOCI~S Real Estate,lnc. Vad Nllege+bklimarN Annex eT!-IIOp Veil Gpn°eede Buildin8 - Lwnal+ead e78-3395 ~ianK so,',i, va~i. coo is re e~TP~ Iwo ne~ein herein aan be rvb recoureB enact De naa 1«abeer seiim e:.:.e~rBU, upon NlaOidl.rnoa wrher anYplnw ordlnan0nwim mererw e$elnal srcy mdiYwl e'finel0rpihwegenl eflhe - p mlpre. eenw elrenN Bn Inesam, «dnerwils,wnB onelgunon. affilule or rut prwlalpn m by me erduroer 91 plMlwlsa 011 such liabili lne accaplBnCe c{ IhB Weird the CaneidarRlion ql mail orb Token of mia w e, and a del Neryef epprored n.re Bach -varwn° m any indwiawl, n.einese i rae'i Baletw HIeL usoeialion or any Bmer tape! me ~nvauoiW o nenterPoAOiply Inerof Eneli not a119e1 Any Of IOmeinlnp seclipna. se Carona, paregrapna, CleueBa or gpv,9rpna of the OrtlirwncB SECTION 4. Amount of Tar. L Puhlrc Heating-Apublic hearinpo miR Tne amdmt el rox payaMelneBCn cO.aeaean CounGl a~ opaytm shall betlhayylf bV rY,B TU'a n ¢'y ae as lollpwe a Wnare mere is no cornaienuaan. pr wnen 1980, a the Yeil Mu icipal eulfpw Vail, 9• CalnaoO. Bndniaherebyam ah0l natkepl In Menng Ile pavan as rpgp,red by law. a the cp M~tlerelron Fire H rrdretl Doilarn (y5gppplolleas upland Transfer Tax Mell ha payable. INTRDOUCFD, PASSED ON FIgST b.WNere inB Gpnaitleralion shall prCwtlFWa Pueat$ EOONCEOIN FULLTNIDS BTOH DAVOF JANVARY. 1960 Tat peyaEle3shelllee pl one peercenl ll%7 Olathe pnsrtleranon, THEP OCEEO$OF whichTA% p TOWN OF VAN dll be Netl Iw appulsillon pl . I ~ y EG N N RrMney E $Ii NI Mayor I:p TS AND TH PRINC A OF ANO INTEgE3T ON ANY BDHROWING FOR THE ATTEST' Colleen Kline ~ ACO V151TiCN, SAID REAL PROPERTY TO DE Iocand &InOr wilnin or wnnept the Irmils o} the Tawn CHIN Town al flail, Publisneein ThB Vad Troll on January lt, I9&0. BDCTION S. FaampIlMB. r.____._ Taie Land Traneier T¢x imposes py Inn orenanca Mell net apply ip'. w~m.~r ,, d°5~~ ^as:~r ; a Public No#ice , tY eniyor,>,;I l, a p Iherepl. Ina brave of Colontle, enycp~mly, coy DRD3NANGE N0.6 entl cwnty m~mc Wln l ~I s Swba 011960 erlner tne Stale ppM,cal su9 oinisim at o r gremnr ar flee AN ORDINANCE AMENDING ORDINANCE b. Any ~~•- ~ g6, $ERIE9 OF 19a9 AS TO SELTlONS l THRO VOH t3 LONCEANfNG A ~(g it OF - wnerB THERE IS no ro ert nj RF AL LaNO TRANSFER TA%. y p p . O a suc pn other roan I We ttntl ahecuon o} t c m BE IT O.RbAINED BVTHE TOWN COUryCIL oenarion. - vn. rtame c OF THE TOWN OF VAIL. COLORADO THAT ORDINANCE 26, SEgIES OK 4~4 5 Any TRANSFER SAYaepcumvnl, becree or AsAENDEO AS LrLLOW5 [Gapnm 1e11ers rna~care w mate1~ o eddem Qo a ord~~ance,neea h aml~n~n Pleose Turn la Page 45 s as ugh wac><eN rro~c.lea dexDpna np x,snnsl ~OR,.1~,~~L I ~4~ G~ 1 ~ k- 1' "~ 11 j " ~ ORDIIvriiJCE N0, 4 ~ + SERIES OF 1980 ,~~~~~ AN ORDINANCE RELATING TO THE ISSUANCE OF - > TOWN OF VAIL, COLORADO, LAND TRANSFER TAX `''~~' ~'~F~.;. ANTICIPATION WARRANTS, SERIES 1980A, DATED ~"'~ FEBRUARY 1, 1380. IN THE PRINCIPAL AMOUNT OF $1,850,000, FOR THE PURPOSE OF ACQUIRING REAL PROPERTY TO BE USED FOR OPEN SPACE, RECREATIONAL OR PARK PURPOSES. BE TT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, THAT: Section 1. Definitions and Construction. A. Definitions. In this Ordinance the following terms have the following respective meanings unless the context hereof clearly requires otherwise: (1) Acquisition Fund: that special fund created by Section 5B hereof . (2) Additional Parity General Obligation Bonds: any general obligation bonds of the Town payable in whole or in part from Pledged Sales Tax Revenues, issued after the date hereof, in accordance with the provisions of this Ordinance, Prior Ordinances, the Charter and the Constitution and laws of the State, having a lien on the Pledged Sales Tax Revenues equal to or on a parity with the lien thereon of the Prior General Obligation Bonds and superior or senior to the lien thereon of the Warrants. (3) Additional Parity Warrants: any warrants of the Town issued after the date hereof, pursuant to and in accordance with Section 7B hereof. (4) Average Annual Debt Service: for the Warrants, or the Superior General Obligation Bands, or a given issue of Parity Securities, the aggregate of all Debt Service Requirements (excluding any redemption premiums) due on the Warrants, or the Superior General Obligation Bonds or any other given issue of Parity Securities in question for all Bond Years beginning with the Bond Year in which both principal of and interest on the Warrants, or the Superior General Obligation Bonds or the Parity Securities are first payable and ending with the Bond Xear in which the last of the Debt Service Requirements (excluding any _~~ redemption premiums} due on the Warrants, a Obligation Bonds or the other given issue question are payable, divided by the numb (5) Band Year: for the purpose of L~ or the Superior General of Parity Securities in er of such years. this Ordinance, the twelve (12) months commencing on the first day of December of any calendar year and ending an the thirtieth day of November of the next succeeding calendar year. (6) Capital Improvements and Open Space Fund: the special fund created by Resolution No. 1, Series 1980, of the Town adopted by the Town Council on January 8, ].980, into which the Pledged Sales Tax Revenues are to be deposited. (7) Charter: the Hame Rule Charter of the Town, approved by the electors of the Town on September 12, 1972, and filed in the office of the Colorado Secretary of State on September 15, 1972. (8) Commercial Bank: a state ar national bank or trust company which is a member of the Federal Deposit Insurance Corporation and of the Federal Reserve System, which has a capital and surplus of $1,000,000 or more, and which is located within the United States; and such term includes, without limitation, any Trust Bank, as herein defined. (9) Comparable Bond Year: in connection with any Fiscal Year, the Bond Year which ends in such Fiscal Year. For example, for the Fiscal Year commencing on January 1, 1981, the Comparable Bond Year for the Warrants commences on December 1, 1980, and ends on November ~0, 1981. (l0) Cast of the Project: all ar any part of the cast of the real property to be acquired with the proceeds of the Warrants, including, without limitation, all costs and estimated costs of the issuance of the Warrants; all surveying, inspection, fiscal, and legal expenses; any discount on the sale of the Warrants; costs of financial, professional, and other estimates and advice; contingencies; any administrative, operating, and other expenses of the Town prior to and during the acquisition period for the Project, as may be determined by the Town Council; and all such other expenses as may be necessary or incident to the -5- ~.~ancing and acquisition of `he Project, or placing of the same in public use; provision replacement expenses or for payment or recur interest on the Warrants during or after the the Town Council may determine. ~~ part thereof, and the for reserves for ity of principal of or accruisition period as (11} Coupons or coupons: those obligations evidencing interest on and pertaining to the Warrants and any other securities payable from the Pledged Revenues, or such part of such securities as may be designated. (12) Debt Service Requirements: the principal of, interest on, and any premiums due in connection with the redemption of the Warrants, the Superior General Obligation Bonds, the Additional Parity Warrants and any other securities payable from the Pledged Revenues and heretofore or hereafter issued, if any, or such part of such securities as may be designated, as such principal, interest and premiums become due, (13} Event of Default: each of the evants stated in Section l 0 hereof . (14) Exempt Transfers: transfers to which the Land Transfer Tax does not apply as provided in Section 5 of Ordinance No. 26. (15} Federal Securities: bi11s, certificates of indebtedness, notes, bands or similar securities which are direct obligations of, ar the principal and interest of which obligations are unconditionally guaranteed by, the United States of America. (16) Fiscal Year: the twelve (12} months commencing on the first day of d'anuary of any calendar year and ending on the thirty-first day of December of such calendar year or such other twelve (l2} month period as may from time to time be designated by the Town Council as the Fiscal Year of the Town. (l7) Gross Project Revenues: (a) all income, if any, from rates, fees, tolls, rentals and charges or any combination thereof for the ser~rires or privileges furnished by, with or from the use of the Project; and (b} all income or other gain, if any, from any investment of Grass Project Revenues. -6- ~j ,~ (l$) Holder: when usec,'in conjunction with any coupons, any v Warrants, or any other designated securities, the Person in possession and the apparent owner of the designated item. (l9) Independent Accountant: any certified public accountant, or any firm of such accountants, duly licensed to practice and practicing as such under the laws of the State, appointed and paid by the Town, who (a) is, in fact, independent and not under the domination of the Town or the Town Council, (b) does not have any substantial interest, direct or indirect, in any of the affairs of the Town, and (c) is not connected with the Town as a member, officer or employee of the Town Council, but who may be regularly retained to make annual or similar audits of any books or records of the Town. (2d) Land Maintenance and Planning Fund: the special fund created by Section 5F hereof. (21) Land Transfer Tax: the land transfer tax established by Ordinance No. 26 upon the Transfer of interests in Real Property in the Town, in such percentage as set forth in Ordinance No. 26 or any supplement or amendment thereof. {22) Land Transfer Tax Fund: the special fund created by Section 9 of Ordinance No. 25 into which the proceeds of the Land Transfer Tax are to be deposited. (23) Mayor: the de jure or de facto Mayor of the Town or h.is or her successor in functions, if any. (2~) Net Project Revenues: all Gross Project Revenues remaining after the deduction of Operation and Maintenance Expenses. (25) Operation and Maintenance Expenses: in the event that the Tawn has any Gross Project Revenues, such reasonable and necessary current expenses of the Town, paid or accrued, of operating, maintaining and repairing the Project as may be determined by the Town Council, and the term may include at the Town Council's option, except as limited by contract or otherwise limited by law, without limiting the generality of the foregoing: (a) Legal and overhead expenses of the various departments of the Town directly related and reasonably allocable to the administration of the Project; -7- . ~ ~~ i i''.. / _, (b) Fidelity bond and insurance premiums appertaining to the Project or a reasonably allocable share of a premium of any blanket bond or policy pertaining to the Project; (c) Contractual services, professional services, salaries, administrative expenses, and costs of labor appertaining to Project; (d) The costs incurred in the coilection of all or any part of the Gross Project Revenues; (e) Any costs of utility services furnished to the Project by the Town or otherwise. "Operation and Maintenance Expenses" does not include: (i) Any allowance for depreciation; (ii) Any costs of reconstruction, improvements, extensions, or betterments; (iii) Any accumulation of reserves for capital replacements; (iv) Any reserves for operation, maintenance, or repair of the Project; (v) Any allowance for the redemption of the Warrants, or the payment of any interest thereon; (vi) Any liabilities incurred in the acquisition or improvement of any properties comprising the Project or any combination thereof; (vii) Any other ground of legal liability not based on cantract. (26) Ordinance: This Ordinance No. 4, Series of 1980, of the Town, which provides far the issuance and delivery of the Warrants. (27) Ordinance Na. 11: Ordinance No. lI, Series of 1973, of the Tawn authorized by the electors of the Town on September 25, 1973, and any supplements or amendments thereof. (28) Ordinance N a. 25: Ordinance No. 25, Series of 1979, of the Town, adopted and enacted on duly 17, 1979, by the Town Cauncil, entitled "An Ordinance Imposing a Land Transfer Tax Upon the Transfer of Interests in Real Property; Earmarking the Proceeds Therefrom for the Purchase of Real Property to be Used -8- i ~ ~~ ~ ~ ~~ tai: Open Space, Recreational or Park Purposes, Requiring the Collection of such Tax by the Town Manager or His Agents; Authorizing the Town Manager to Enter into an inter-Governmental Contract with Eagle County for the Collection of the Tax Imposed, Exempting Certain Transactions From the Tax Imposed; Establishing Procedures for Acquiring a Certificate of Exemption; Establishing Penalties for Violations of this Ordinance; Creation of a Lien on the Property Transferred for the Amount of the Tax Unpaid; and Setting Forth Details in Relation to the Foregoing," and any supplements or amendments thereof. (29) Outstanding or outstanding: when used with reference to the Warrants, the Additional Parity Warrants, the Superior General Obligation Bonds ar any other designated securities of the Town and as of any particular date, all the Warrants, the Additional Parity Warrants, the Superior General Obligation Bonds or any such other securities payable in whole or in part from the Pledged Revenues or otherwise pertaining to the Project, as the case may be, in any manner theretofore and thereupon being executed and delivered, except the following: (a) Any Warrant, Additional Parity Warrant, Superior General Obligation Band or other security cancelled by the Town, by the Paying Agent, ar otherwise an the Town's behalf, at or before such date; (b) Any Warrant, Additional Parity Warrant ar Superior General Obligation Bond held by or an behalf of the Town; (c) Any Warrant, Additional Parity Warrant, Superior General Obligation Bond or other security of the Tawn for the payment or the redemption of which moneys or Federal Securities sufficient to meet all of the payment requirements of the principal of, the interest on, and any prior redemption premiums due in connection with such Warrant, Additional Parity Warrants, Superior General Obligation Band or other security to the date of maturing or any redemption date thereof, shall have theretofore been deposited in escrow or in trust with a Trust Bank for that purpose, as provided in and required by Section 9 hereof; and -9-- • (d) Any lost, apparently destroyed, or wrongfully taken Warrant, Additional Parity Warrant, Superior General Obligation Bond or other security of the Town in lieu of or in substitution far which another warrant, bond or other security shall have been executed and delivered pursuant to this Ordinance. (30) Parity Securities: warrants, bonds or securities payable from the Pledged Revenues equally or on a parity with the Warrants. (31) Paying Agent: First National Bank of Englewood, in Englewood, Colorado, which is the agent of the Town for the payment of the Warrants. (32) Person: any individual, firm, partnership, corporation, company, association, joint-stock association, or body politic; and the term includes any trustee, receiver, assignee, or other similar representative thereof. (33) Pledged Land Transfer Tax Revenues: the gross receipts collected by the Town from the Land Transfer Tax. (34) Pledged Revenues: all or a portion of the Pledged Land Transfer Tax Revenues, and, on a basis subordinate and junior to the Superior General Obligation Bands, the Pledged Sales Tax Revenues. The designated term indicates a source of revenues and does not necessarily indicate all or any portion or other part of such revenues in the absence of further qualification. (35) Pledged Sales Tax Revenues: the one-half of the gross receipts collected by the Town from its 4~ sales tax authorized by Ordinance No. 11 devoted to and specifically earmarked by Ordinance Na. 11 for the purpose of real estate acquisition and for the acquisition, construction and equipping of buildings and facilities of the Town. (36} Principal and Interest Fund: the special fund created by Section 5C hereof . (37) Prior General Obligation Bonds: the following Series of General Obligation Bonds of the Town: Series 1974, dated November 15, 1974, in the original principal amount of $2,640,000 which issue refunded Series November 1, 1973; Series September 1, 1976, -10- . -~ ~`~ i iri the original principal amount of $300,00; Series 1976, dated November 1, 1976, in the original principal. amount of $6,345,000 which issue refunded Series March 1, 1974, and Series December 1, 1975; Series May 1, 1977, in the original principal amount of $450,00D; and Series December 1, 1977, in the original principal amount of $2,350,000. {38} Prior Ordinances: the following ordinances of the Town: Ordinance No. 19, Series 1973; Ordinance No. 3, Series of 1974; Ordinance No. 21, Series of 1974; Ordinance No. 21, Series of 1975; Ordinance No. 2.4, Series of 1976; Ordinance No. 26, Series of ].976; Ordinance No. 11, Series of 1977; and Ordinance No. 31, Series of 1977. (39} Project: the acquisition of real property in the Town for parks, recreation, open space and other similar purposes, for which purposes the Warrants are issued hereunder, whether such acquisition is undertaken at one time or in stages. {40} Purchaser: ~ianifen, Imhoff & Samford, of Denver, Colorado, and its associates, if any. (41} Real Property: real property as defined by and under the laws of the State, (42} Redemption Date: the date fixed for the redemption prior to their maturity of any Warrants or other designated securities payable from the Pledged Revenues in any notice of prior redemption authorized by the Tawn, or otherwise fixed and designated by the Town. (43} Redemption Price: when used with respect to a Warrant or other designated security payable from the Pledged Revenues, the principal amount thereof plus the applicable premium, if any, payable upon the redemption thereof prior to the stated maturity date of such Warrant or other security on a Redemption Date in the manner contemplated in accordance with the terms of the Warrant or other security. (44} Reserve Fund: the special fund created by Section 5D hereof . (45} Sales Tax: the sales tax established by Ordinance No. li upon the sale of tangible personal property at retail and the -11- • ~ ~ ~ l furnishing of services within the Town, in such percentage as set forth in Ordinance No. 11, or any supplements or amendments thereof. (46} security or securities: when used with reference to securities of the Town, any warrant or bond issued by the Town, or any other evidence of the advancement of money to the Town. (47) State: the State of Colorado. (48} Subordinate Warrants or Subordinate Securities: bonds or securities payable from the Pledged Revenues having a lien thereon subordinate or junior to the lien thereon of the Warrants. (49) Superior Bonds or Superior Securities: the Prior General Obligation Bonds, Additional Parity General Obligation Bonds and any other bonds or securities payable from the Pledged Sales Tax Revenues having a lien thereon superior or senior to the lien thereon of the Warrants. {50} Superior General Obligation Bonds: the Prior General Obligation Bonds and Additional Parity General Obligation Bonds, which bonds have a lien on the Pledged Sa.1es Tax Revenues superior or senior to the lien thereon of the Warrants. (51) Town: the Tawn of Vail, Colorado. (52) Town Clerk: the de jure or de facto Town Clerk of the Town or his or her successor in functions, if any. (53} Town Council: the Tawn Council of the Town or any successor in functions thereto. {54} Transfer(s): whether or not the same is in writing or is recorded, (1) any sale, grant, assignment, transfer, exchange, or conveyance of any ownership or title to Real Property situated in the Town of Vail, ar (2) the sale, letting, conveyance, assignment or transfer of a possessory interest in Real Property subject to the exemptions provided in Ordinance No, 26.. {55) Trust Bank: a Commercial Bank located within the State of Colorado, which bank is authorized to exercise and is exercising trust powers. (56) Warrants or Warrant: those securities issued hereunder and designated as the "Town of Vail, Colorado, Land Transfer Tax -12- ~i ~ ~ -~ ~ ~~ Anticipation Warrants, Series 1980A," dated February ]., 1980, in the aggregate principal amount of 51,850,000. B. Construction. This Ordinance, except where the context by clear implication herein otherwise reciuires, shall be construed as follows: {1} Word s in the singular number include the plural, and words in the plural include the singular. {2} Words in the masculine gender include the feminine and the neuter, and when the sense so indicates wards of the neuter gender refer to any gender. (3} Articles, sections, subsections, paragraphs and subparagraphs mentioned by number, letter, or otherwise, correspond to the respective articles, sections, subsections, paragraphs and subparagraphs of this Ordinance so numbered or otherwise sa designated. {4} The titles and headlines applied to articles, sections and subsections of this Ordinance are inserted only as a matter of convenience and ease in reference and in no way define, or limit the scope or intent of, any provisions of this Ordinance. Section 2. Recitals; Authority. A. Necessity. The Town has need for and desires to acquire real property for use as parEcs, recreation, open space or similar purposes, including the Project. S. Land Transfer Tax. Pursuant to Ordinance No. 26 and Section 11.1 of the Charter, the Town Council has imposed the Land Transfer Tax on all Transfers of Real Property located in the Town, except Exempt Transfers, has created the Land Transfer Tax Fund and has provided that all proceeds of the Land Transfer Tax be deposited in the Land Transfer Tax Fund, to be used for certain public purposes including the Project. C. Authority For Warrants. The Town is authorized, by Section 10.1 and 10.4 of the Charter, to borrow money and issue anticipation warrants to evidence such borrowing, maturing within such period as shall be determined by the Town Council. D. Pledged Sales Tax Revenues. Pursuant to the Prior Ordinances and related authorizing elections, the Town has previously issued the -13- o~ -~ Prior General Obligation Bonds and has covenanted and agreed,~in each of the Prior Ordinances, to pledge and set aside all of the Pledged Sales Tax Revenues to pay the principal of and interest on the Prior General Dbligatian Bonds. The Prior Ordinances provided that the Pledged Sales Tax Revenues may also be pledged and used for the payment of the principal of and interest on any other or additional general obligation bonds of the Town which may be issued thereafter on a parity with or subordinate to the Prior General Obligation Bonds, with respect to the Pledged Sales Tax Revenues. The Prior Ordinances also provided that, to the extent that the principal of and interrest on the Prior General Obligation Bonds are fully provided far in any Fiscal Year by tax revenues and other moneys legally available therefor, the Town is authorized to use such excess Pledged Sales Tax Revenues for other purposes, including, but not limited to, payment of special non--general obligation bonds of the Town which may not be 1S5ued on a parity with the Prior General Obligation Bonds, but only may be issued in a subordinate and inferior position to the claim of the Prior General Obligation Bonds to the Pledged Sales Tax Revenues. Section 3. The Warrants. A. Authorization. The Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Series 1980A, in the aggregate principal amount of $1,850,000, payable as to all Debt Service Requirements solely out of Pledged Revenues are hereby authorized to be issued, pursuant to the Charter and the terms of the Ordinance, and the Town assigns and pledges irrevocably, but not necessarily exclusively, the Pledged Revenues to the payment of the Debt Service Requirements for the Warrants, the proceeds of the Warrants authorized herein to be used solely to defray the Cost of the Project. B. Warrant Details. (1) Generally. The Warrants shall be issued payable to bearer, and dated as of February 1, 1980, consisting of 370 Warrants in the denomination of $5,000 each numbered consecutively in regular numerical order from 1 through 370. The Warrants shall bear one set of interest coupons evidencing interest thereon from February 1, 1980, to their respective maturity dates, except if redeemed prior thereto, at the per annum rates of _14_ ~~ S ! • interest stated below. The coupon in terest shal l be payable June 1, 1980, and semiannually thereafter an the 1st day of June and the 1st day of December of each year. The Warrants shall be numbered, s ha11 mature on the 1st day of December in the princip al amounts and years, and shall bear per annum interest at the rates as shown in the following schedule: Per Annum Warrants Principal Coupon (both inclusive) Amounts Years Interest Rates 1 to 20 $ 100,000 1981 8.50 21 to 45 125,000 1982 8.50 46 to 7D 125,D00 1983 8.50 71 to 100 15D,000 1984 8.50 IOI to 135 175,000 1985 8.50 136 to 175 200,000 1986 8.75 176 to 220 225,000 1987 8.75 22l to 265 225,000 1988 8.75 256 to 315 250,000 1989 8.75 316 to 37D 275,000 1990 8.75 The Debt Service Requirements of the Warrants are payable in lawful money of the United States of America, without deduction for exchange or collection charges, upon presentation and surrender of the Warrants and the interest coupons as they severally become due, at the office of the Paying Agent . If upon presentation at maturity payment of any Warrant is not made as herein provided, interest shall continue thereon at the interest rate designated in the Warrant until the principal thereof is paid in f u l 1. (2) Redemption of Warrants Prior to Maturity. The Warrants shall not be subject to redemption prior to maturity. (3) Negotiable Instruments. Title to any Warrant or to any coupon shall pass by delivery merely, as a negotiable instrument payable to bearer. Subject to the provisions expressly made or necessarily implied herein, the Warrants and the coupons pertaining thereto shall be fully negotiable and sha11 have all the qualities of negotiable paper within the meaning and for all the purposes of investment securities under the provisions of part 1 of article 8 of title 4, Colorado Revised Statutes 1973, as amended, the Uniform Commercial Code--Investment Securities; and each Holder or Holders of the Warrants, by accepting the same, shall be conclusively deemed to have agreed that the Warrants, except as otherwise provided, are and shall be fu11y negotiable within the meaning and for all purposes of investment securities pursuant to said statute. -15- (4) Interest Rates. The maximum net effective interest rate specified for the Warrants of this issue is 9.500 and the actual net effective interest rate for the Warrants is 9.115 $. (5) Execution and Delivery. The Warrants shall be signed and executed by and on behalf of the Tawn with the facsimile signature o£ the Mayor , shall bear a facsimile of the seal of the Town and shall be attested by the manual signature of the Town Clerk; and each of the Warrants shall have attached thereto coupons bearing the facsimile signature of the Mayor, securing the payment of the interest accruing thereon as it falls due. Should any officer whose signature or facsimile signature appear on the Warrants or the coupons thereto attached cease to be such officer before delivery of the Warrants to the Purchaser, such signature or facsimile signature shall nevertheless be valid and sufficient for all purposes. The Mayor and the Town Clerk are hereby authorized and directed to prepare and to execute the Warrants as herein provided. When the Warrants have been duly executed and sold, the officers of the Town are authorized to, and shall, deliver the Warrants to the Purchaser thereof on receipt of the agreed purchase price. {6) Loft, Destroyed or Taken Warrants. If any Outstanding Warrant or coupon shall become lost, apparently destroyed, or wrongfully taken, it may be reissued in the form and tenor of the lost, destroyed or taken Warrant or coupon upon the owner furnishing, to the satisfaction of the Town Council: (a) proof of ownership, (b) proof of loss or destruction, (e) a surety bond in twice the amount of the securities in question, including any unmatured coupons appertaining thereto, and (d) payment of the cast of preparing and issuing the new security. Nothing contained in the provisions of this Section prohibits the Town from reissuing, upon such terms and conditions as the Town Council may determine, and provided that such terms and conditions are not otherwise contrary to the provisions of this Ordinance or the requirements of law,- any Outstanding Warrant or coupon which shall not have become lost, apparently destroyed, or wrongfully taken. (7) Recitals in Warrants. Each Warrant shall recite in substance that the Warrant is payable solely from the Pledged Land Transfer Tax --16- ' ~ `~ Revenues and, an a basis subordinate and junior to the Prior General Obligation Bonds and Additional General Obligation Bonds issued an a parity with the Prior General Obligation Bands, the Fledged Sales Tax Revenues {or, collectively, Pledged Revenues), that the Warrant does not constitute a debt of the Town within the meaning of any constitutional, Charter or statutory limitations, that the Warrant is not payable in whole or in part from the proceeds of general property taxes and that the full faith and credit of the Town is not pledged to pay the principal of or interest on such Warrant. Each Warrant shall. further recite that it is issued under the authority of the Charter and this Ordinance. {8) Form of Warrants and Coupons. Subject to the provisions of this Ordinance, each Warrant, and the coupons to be attached thereto, shall be in substantially the following form, with such omissions, insertions, endorsements, and variations as to recitals of fact or other provisions as may be required by the circumstances and as may be required or permitted by this Ordinance, and as may be necessary or appropriate to conform to the rules and requirements of any governmental authority or to any usage or requirement of law with respect thereto; -I7- .. -~ i (Form~of Warrant) • UNITED STATES OF AMERICA STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAIL LAND TRANSFER TAX ANTICIPATION WARRANT SERIES 1980A No. $5,000 The Town of Vail, in the County of Eagle, and State of Colorado (the Town), for value received, hereby promises to pay to the bearer hereof, solely from the special funds provided therefor, as hereinafter set forth, on the 1st day of pecember, 19~, the principal sum of FIVE THOUSAND DOLLARS and to pay solely from said special funds interest thereon as evidenced by interest coupons .hereto attached, at the rate of per centum ( °s) per annum from February 1, 1980, to the maturity date of this Warrant, payable June 1, 1980, and semiannually thereafter on the 1st day of June and the 1st day of December of each year, upon presentation and surrender of this Warrant and said coupons as they severally become due. If upon presentation at maturity payment of this Warrant is not made as herein provided, interest shall continue at the interest rate designated herein until the principal hereof is paid in full. The principal of and interest on this Warrant (the Debt Service Requirements) are payable in lawful money of the United States of America, without deduction for exchange or collection charges, out of the special funds hereinafter specified, but not otherwise, at in , Colorado (the Paying Agent), upon presentation and surrender of said coupons and this Warrant as they severally become due. This Warrant and the Warrants of the series of which this is one are not subject to redemption prior to maturity. This Warrant and the Warrants of the series of which this is one are limited and special obligations of the Town payable solely out of and secured by an irrevocable assignment and pledge of the Pledged Land Transfer Tax Revenues derived and to be derived from the Land Transfer Tax of the Town, and, on a basis subordinate and junior to certain outstanding General Obligation Bonds of the Town and General -18- ~ a r ~. obligation Bonds of the Tawn hereafter issued on a parity with such outstanding General Obligation Bonds, the Pledged Sales Tax Revenues derived or to be derived from a portion of the sales tax levied in the Town (the Pledged Land Transfer Tax Revenues and the Pledged Sales Tax Revenues, collectively called Pledged Revenues), as more specifically provided in Ordinance No. 4, Series of 1980 (the Ordinance}, pursuant to which this Warrant is issued. This Warrant and the interest, coupons appurtenant hereto do not constitute a debt or an indebtedness of the Tawn within the meaning of any constitutional or statutory provision or limitations of the State of Colorado or any provision or limitation of the Charter of the Town. This Warrant is not payable in whale or in part from the proceeds of general property taxes and the full faith and credit of the Town is not pledged to pay the principal of or interest on this Warrant. Payment of the Debt Service Requirements of this Warrant shall be made solely from, and as security for such payment there are irrevocably (but not exclusively) pledged, pursuant to the Ordinance, two special funds thereby created and identified as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Principal and Interest Fund" and the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Reserve Fund", into which funds the Tawn has covenanted in the Ordinance to pay, respectively, from the Pledged Revenues sums sufficient to pay when due the Debt Service Requirements pf the Warrants of the series of which this is one and any additional parity securities hereafter issued and payable from such revenues, and to accumulate and maintain a specified reserve far such purposes. In addition, the Town may at its option augment such-funds with any other moneys of the Town legally available far expenditure for the purposes thereof as prow ided in the and inance . It is hereby recited, certified and warranted that for the payment of this Warrant and of the interest hereon, the Town has created and will maintain said special funds and will deposit the Pledged Revenues therein, out of the amounts and revenues specified in the Ordinance referred to above authorizing the issuance of this Warrant, and out of said special funds, as an irrevocable charge thereon, wi11 pay this Warrant and the interest hereon, in the manner provided by the Ordinance. -19-- i ~ • 4i ~.~ The Warrants of the series of which this is nne are equitably and ratably secured by a lien on the Pledged Land Transfer Tax Revenues and such Warrants constitute an irrevocable and first lien (but not necessarily an exclusive first lien) upon the Pledged Land Transfer Tax Revenues. Such Warrants are also eguitably and ratably secured by a lien on the Pledged Sales Tax Revenues, but such Warrants only constitute an irrevocable and second and subordinate lien (but not necessarily an exclusive second lien) upon the Pledged Sales Tax Revenues, such lien being second and subordinate to the lien on such revenues of certain outstanding General Obligation Bands of the Town and General Obligation Bonds hereafter issued on a parity with such outstanding General Obligation Bonds. Warrants and other types of securities, in addition to the Warrants of the series of which this is one, subject to expressed conditions, may be issued and made payable from the Pledged Revenues having a lien thereon subordinate and junior to the lien of the Warrants of the series of which this is one or, subject to additional expressed conditions, having a lien thereon an a parity with the lien of such Warrants in accordance with the provisions of the Ordinance. General Obligation Bonds of the Town, in addition to the General Obligation Bands outstanding on the date hereof, subject to expressed conditions, may be issued and made payable from the Pledged Sales Tax Revenues having a lien thereon subordinate and junior to the lien of the General Obligation Bonds outstanding on the date hereof and of the Warrants of the series of which this is one or, subject to additional expressed conditions, having a lien thereon on a parity with the lien of such outstanding General Obligation Bonds and superior to the lien of such Warrants in accordance with the provisions of the Ordinance. Except as otherwise expressly provided in this Warrant and the Ordinance, the Pledged Land Transfer Tax Revenues and the Pledged Sales Tax Revenues are assigned, pledged and set aside to the payment of this Warrant, the series of which this Warrant is one, and the interest hereon and thereon in anticipation of the collection of the Pledged Land Transfer Tax Revenues and the Pledged Sales Tax Revenues. The Town covenants and agrees with the holder of this Warrant and with each and every person who may become the holder hereof that it -20- ~ ~ wil..~ Keep and will perform all cat the covenants of this Wart ant and of the Ordinance. This Warrant is one of a series of 370 Warrants in the aggregate principal amount of $1,850,a0Q, of like tenor and date, except as to number and interest rate, issued and authorized for the purpose of defraying in whole or in part the cost of acquiring real property for parks, recreation, open space and other similar purposes, under the authority of and in full conformity with the Constitution of the State of Colorado, the Town Charter, and all other laws of the State of Colorado thereunto enabling, and pursuant to the Ordinance and other ordinances of the Town, duly adapted, published and made laws of the Town prior to the .issuance of this Warrant. Reference is hereby made to the Ordinance, and to any and all modifications and amendments thereof, for a description of the provisions, terms and conditions upon which the Warrants of the series of which this is one are issued and secured, including, without limitation, the nature and extent of the security for the Warrants, provisions with respect to the custody and application of the proceeds of the Warrants, the collection and disposition of the revenues and moneys charged with and pledged to the payment of the Debt Service Requirements of the Warrants, the terms and conditions on which the Warrants are issued, a description of said special funds referred to above and the nature and extent of the security and pledge afforded thereby for the payment of the Debt Service Requirements, and the manner of enforcement of said pledge, as well as the rights, duties, immunities and obligations of the Town and the members of its Town Council and also the rights and remedies of the holders of the Warrants. To the extent and in the respects permitted by the Ordinance, the provisions of the Ordinance, or any instrument amendatory thereof or supplemental thereto, may be modified or amended by action of the Town taken in the manner and subject to the conditions and exceptions provided in the Ordinance. The pledge of revenues and other obligations of the Town under the Ordinance may be discharged at or prior to the maturity of the Warrants upon the making of provision for the payment of the Warrants on the terms and conditions set forth in the Ordinance. -21- ~~ ~ ~ ~ ~ :"~ It is hereby recited, certified and warranted that all tie requirements of law have been fully complied with by the proper officers of the Town in the issuance of this Warrant; that it is issued pursuant to and in strict conformity with the Constitution of the state of Colorado, the Tawn Charter, and all other laws of the State of Colorado, and with the Ordinance and any instrument supplemental thereto; that this Warrant does not contravene any constitutional or statutory limitation of the State of Colorado or any limitation of the Town Charter; and that this Warrant and each of the other Warrants of the series of which it is one are issued under the authority of the Ordinance. For the payment of this Warrant and the interest hereon, the Tawn pledges the exercise of all its lawful corporate powers. IN WITNSSS WHEREOF, the Town Council of the Tawn of Vail, Colorado, has caused this Warrant to be signed in its name and on its behalf with the facsimile signature of the Mayor of the Town, to be sealed with a facsimile seal of the Town, and to be signed and attested by the manual signature of the Town Clem of the Town, and has caused the attached coupons to be signed with the facsimile signature of the Mayor of the Town, all as of the 1st day of February, 1980. TOWN OF VAIL, COLORADO By (Facsimile Signature) Mayor {FACSIMILE) ( SEAL ) Attest: (Manual Signature) Town Cler k {End of Form of Warrant) _22_ . ~~ i ~ ~ ~ ~ ~~ (Form of Interest Coupon) Coupon No. ~ June , On the first day of December, 19^, the Town of Vail, in the County of Eagle and State of Colorado, will upon surrender of this coupon pay to bearer the amount shown hereon in lawful money of the United States of America, without deduction for exchange or collection charges, at in , Colorado, solely from and secured by a pledge of two special funds, created from the Pledged Revenues derived from the sources set forth in the Warrant to which this coupon pertains, being the interest then due on its Town of Vail, Colorado, Land Transfer Tax Anticipation Warrant, Series 1984A, bearing Warrant No. (Facsimile Signature} Mayor Town of Vail, Colorado {End of Farm of Coupon) -23- ~1 i • C. warrants Equally Secured. The covenants and agreements herein set forth to be performed on behalf of the Town shall be for the equal benefit, protection and security of the Holders of any and all of the Warrants and the coupons pertaining thereto, all of which, regardless of the time or times of their maturity, sha11 be of equal rank without preference, priority or distinction of any of the Warrants or coupons over any other thereof, except as otherwise expressly provided in or pursuant to this Ordinance. D, Special Obligations. A11 of the Warrants, as to all Debt Service Requirements thereof, shall be payable and collectible solely out of the Pledged Revenues, which revenues are hereby so assigned and pledged for that purpose; the Holder or Holders of any of the Warrants or coupons may not look to any general or other fund of the Town for the payment of the Debt Service Requirements, except the herein-designated special funds pledged therefor; the Warrants and coupons appertaining thereto shall not constitute an indebtedness or a debt of the Town within the meaning of any constitutional or statutory provision or limitation of the State of Colorado or any provision or limitation of the Town of Vail Charter; and the Warrants and coupons shall not be Considered or held to be general obligations of the Town but shall constitute the special and limited obligations of the Town. The Warrants are nat payable in whole or in part from the proceeds of general property taxes and the full faith and credit of the Town is not pledged for payment of the Warrants or their coupons. Section 4. Sale of Warrants. A. Necessity of Fro~ect and Issuance of Warrants. It is necessary and for the best interests of the Town and the inkaabitants thereof that the Town acquire the Froject and defray all or a portion of the Cost of the Project by issuing the Warrants. B. Warrant Purchase Agreement; Award of Sale. The Town Council has received for approval and there is now on file in the office of the Town Clerk a Warrant Purchase Agreement, dated January 18, 1980, between the Town and the Purchaser, executed by the Purchaser, pursuant tv which the Purchaser offers to purchase the Warrants in accordance with the terms of this Ordinance and the Warrant Purchase Agreement at a price of 97~ of the principal amount of the Warrants. -24- ~~ ~ • ~ ~ ~~~ The Wa7rrant Purchase Agreement is approved and the Mayor is authorized and directed to execute the Warrant Purchase Agreement in the name and on behalf of the Town, C. Preliminary Official Statement; Official Statement. The Town Council has received for approval and there is now on file in the office of the Town Clerk the Preliminary Official Statement of the Town, dated January 8, 198fl, relating to the issuance and sale of the Warrants. The contents of the Preliminary Official Statement are hereby approved. The use of the Preliminary Official Statement by the Purchaser for the reoffering of the Warrants to the public is approved and the NEayor, an behalf of the Tnwn, is authorized to sign one or more copies of the Prelim inary Official Statement and the Final Official Statement. Section 5. Funds Created by Ordinance. A. Disposition of Warrant Proceeds and Other Revenues; Security For Warrants. The proceeds from the sale of the Warrants, the Pledged Revenues and all Net Project Revenues received by the Town from the Project shall be deposited by the Town in the funds described in this Section 5, to be accounted for in the manner and priority set forth in this SeCtian 5. The validity of the Warrants shall not be dependent an nor be affected by the validity or regularity of any proceedings relating to the Project or any part thereof. The Purchaser of the Warrants, any associate thereof, and any subsequent Holder of any Warrants shall in no manner be responsible for the application or disposal by the Town or by any of its officers, agents and employees of the moneys derived from the sale of the Warrants or of any other moneys designated in this Section 5. Until the proceeds of the Warrants are applied as provided in this Section 5 and used to defray the Cost of the Project from time to time, the proceeds of the Warrants shall be subject to a lien thereon and pledge thereof for the benefit of the Holders of the Warrants from time to time as provided in this Section 5. The Pledged Revenues, and all moneys and securities paid ar to be paid to or held or to be held in any fund or account hereunder are hereby assigned and pledged to secure the payment of the Debt Service -25- ~ • • ~ ~ Requirements of the Warrants, subject to the provisions here relating to the Acquisition Fund; and this assignment and pledge sha11 be valid and binding from and after the date of the first delivery of the Warrants, and the moneys, as received by the Town and hereby assigned and pledged, shall immediately be subject to the lien of this assignment and pledge without any physical delivery thereof, any filing, or further act, and the lien of this assignment and pledge and the obligation to perform the contractual provisions hereby made shall have priority over any or all other obligations and liabilities of the Town (except as herein otherwise expressly provided), and the lien of this assignment and pledge sha11 be valid and binding as against all parties having claims of any kind in tort, contract or otherwise against the Town (except as herein otherwise expressly provided), irrespective of whether such parties have notice thereof. B. Acquisition Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Acquisition Fund." The proceeds of the Warrants, except the sums required in Section 5C and 5D hereof to be deposited in the Principal and interest Fund and the Reserve Fund, shall be deposited in the Acquisition Fund and shall be used and withdrawn only as provided in this Section 5B. The moneys in the Acquisition Fund, except as herein otherwise expressly provided, shall be used and paid out from time to tame solely far the purpose of paying the Cost of the Project and are pledged therefor. Any surplus remaining in the Acquisition Fund after completion of the acquisition of the Project may be deposited in the Principal and Interest Fund and used for the purposes of the Principal and Interest Fund, may be used to the extent feasible to call and redeem the Warrants in advance of maturity or may be used to acquire other real property for parks, recreational, open space or other similar use purposes i.n the Town. The Town shall use any proceeds of the Warrants credited to the Acquisition Fund, without further order, to pay the Debt Service Requirements of the Warrants as the same become due whenever and to the extent moneys in the Principal and Interest Fund and the Reserve Fund or moneys otherwise available therefor are insufficient for that purpose, unless such proceeds shall -26- be needed to defray obligations accrued and to accrue under any contracts then existing and pertaining to the Project. Any moneys so used shall be restored to the Acquisition Fund, from the first Pledged Revenues thereafter received and not needed to meet the requirements provided in Sections 5C and 5D hereof. C. Principal and Interest Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Principal and Interest Fund." The Town shall deposit in the Principal and Interest Fund, forthwith upon receipt of the proceeds of the Warrants, interest accrued thereon from their date of issue to the date of delivery thereof to the Purchaser, to apply to the payment of interest on the Warrants as the same becomes due after their delivery. As moneys are received in the Land Transfer Tax Fund they shall be credited immediately to the Principal and Interest Fund until the total amount accumulated therein is equal to the sum of the following: {1) Interest Payments. The aggregate amount of the next maturing installment of interest on the Warrants, any Additional Parity Warrants and any other Parity Securities then Outstanding; plus {2) Principal Payments. The aggregate amount of the next maturing installment of principal, of the Warrants, any Additional Parity Warrants and any other Parity Securities then Outstanding. Such interest and principal shall be promptly paid when due. The moneys credited to the Principal and Interest Fund shall be used to pay the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities then Outstanding, as such Debt Service Requirements become due, except as otherwise provided in Sections 38, 5D, 5E and 9 hereof. In accordance with and within the limitations set forth in Section 7 hereof, in the event that Pledged Land Transfer Tax Revenues are not sufficient to pay the Debt Service Requirements as set forth in this Section, on or before ten days prior to the date on which the next maturing installment of interest on or principal of the Warrants, any Additional Parity Warrants or any other Parity Securities then Outstanding is due in any Fiscal Year, the Town shall determine the Debt Service Requirements of Outstanding Superior General Obligation -27- L~J Bonds to be paid from the Capital Improvements and Open Space Fund in that Fiscal Year and the sums estimated to be remaining and available on such date to be applied to the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities then Outstanding. On ar before the date on which the next maturing installment of interest on or principal of the Warrants, any Additional Parity Warrants or any other Parity Securities then Outstanding is due in any Fiscal Year, but only after the Debt Service Requirements of the Outstanding Superior General Obligation Bonds due in that Fiscal Year have been provided for in full, the Town shall credit to the Principal and Interest Fund, from Pledged Sales Tax Revenues a sum equal to the difference between the Debt Service Requirement then due and the sums deposited to the Principal and Interest Fund from Pledged Land Transfer Tax Revenues, to the extent that Pledged Sales Tax Revenues are legally available for such purpose. D. Reserve Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Reserve Fund." The Town shall deposit in the Reserve Fund, forthwith upon receipt of the proceeds of the Warrants, the sum of $2'75, 000. No payment need be made into the Reserve Fund so long as the moneys therein shall equal not less than $275,000. The moneys in the Reserve Fund shall be maintained as a continuing reserve to be used, except as hereinafter provided in this Section 5D and Sections 5E and 9 hereof, only to prevent deficiencies in payment of the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities, then Outstanding, resulting from failure to deposit into the Principal and Interest Fund sufficient funds to pay such Debt Service Requirements as the same accrue. If at any time the Town shall for any reason fail to pay into the Principal and Interest Fund the full amount above stipulated, then an amount shall be paid into the Principal and Interest Fund at such time from the Reserve Fund equal to the difference between that paid from the Pledged Revenues and the full amount so stipulated. The money so used shall be replaced to the Reserve Fund from the first moneys credited to the Land Transfer Tax Fund thereafter received and not _2g_ i • 1 required to be otherwise applied by Section 5C hereof. If Additional Parity Warrants ar other Parity Securities are Outstanding (other than the Warrants), and the proceedings authorizing the issuance of those securities require the replacement of moneys in a reserve account therefor, then the moneys replaced in the Reserve Fund shall be replaced on a pro rata basis based upon the principal amount of the then Outstanding Warrants and the total principal amount of the then, Outstanding Additional Parity Warrants or other Parity Securities, including the Warrants, as moneys become available therefor. E. Termination of Deposits; Use of N~oneys in Principal and Interest Fund and Reserve Fund. No payment need be made into the Principal and Interest Fund or the Reserve Fund, ar both, if the amount in the Principal and Interest Fund and the amount in the Reserve Fund total a sum at least equal to the entire amount of the Outstanding Warrants and any Outstanding Additional Parity Warrants and Parity Securities, as to all Debt Service Requirements, to their respective maturities or to any Redemption Date or Redemption Dates on which the Town shall have exercised or shall have obligated itself to exercise its option to redeem, prior to their respective maturities, any Warrants, any Additional Parity Warrants and any other Parity Securities, then Outstanding, and thereafter maturing, both accrued and not accrued (provided that, solely for the purpose of this Section 5E, there shall be deemed to be a credit to the Reserve Fund of moneys, Federal Securities and bank deposits, or any combination thereof, accounted for in any other account or accounts of the Town and restricted solely for the purpose of paying the Debt Service Requirements}, in which case moneys in the Principal and Interest Fund and the Reserve Fund in an amount, except for any known interest or other gain to accrue from any investment or deposit of moneys pursuant to Section 6B hereof from the time of any such investment or deposit to the time or respective times the proceeds of any such investment or deposit shall be needed for such payment, at least equal to such Debt Service Requirements, shall be used together with any such gain from such investments and deposits solely to pay such Debt Service Requirements as the same become due; and any moneys in excess thereof in the Principal and Interest Fund and the Reserve Fund and any other -29- moneys derived Pram the Pledged Revenues or otherwise pertaining to the Project may be used in any lawful manner determined by the Town. The moneys in the Principal and Interest Fund and in the Reserve Fund shall be used solely and only for the purpose of paying the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities hereafter authorized and Outstanding from time to time; but any moneys at any time in excess of the minimum amount required to be maintained in the Reserve Fund may be withdrawn therefrom, and transferred from time to time to the Principal and Interest Fund and distributed in the same manner as other moneys in the Principal and Interest Fund. F, Land Maintenance and Planning Fund. A special fund is hereby created and designated as the "Town of Vail, Colorado, Land Transfer Tax Anticipation Warrants, Land Maintenance and Planning Fund." Subject to the payments required by Sections 5B, 5C and 5D, from and to the extent that any moneys remain in the Land Transfer Tax Fund, there shall be deposited in the Land Maintenance and Planning Fund by five (5) approximately equal annual payments starting no later than November 30, 1980, and continuing thereafter no later than the last day of the next succeeding four Band Years ending November 30, 1981, through November 30, 1984, inclusive, that amount, if any, needed to accumulate or reaccumulate the amount in the Land Maintenance and Planning Fund so that on December 1, 1984, the amount in said Fund shall equal -0-. No payment need be made into the Land Maintenance and Planning Fund so long as the moneys therein shall equal said amount. The moneys in the Land Maintenance and Planning Fund shall be set aside, accumulated, and, if necessary, reaccumulated from time to time, and maintained far the purpose of: (1) First, eliminating any deficiency in the Principal and Interest Fund or in the Reserve Fund, ar both, in which event all available moneys from the Land Maintenance and Planning Fund shall be transferred to the Principal and Interest Fund or to the Reserve Fund, or to both, to the extent required to eliminate such deficiency; and (2) Second, paying the costs of unusual maintenance or repairs of the Project, renewals or replacements thereof, or the casts of planning, surveying, inspections and engineering in preparation of future acquisitions by the Town of real -30- __~ property for parks, recreational, open space and other similar purposes. Moneys in excess of said minimum amount required to be maintained in the Land Maintenance and Planning Fund shall be withdrawn therefrom and transferred to the Principal and Interest Fund and distributed in the same manner as other moneys in the Principal and Interest Fund. G. Payment of Additional Subordinate Securities, Subsequent to the payments required by the foregoing provisions of this Section 5, any moneys remaining in the Land Transfer Tax Fund and any moneys remaining from Pledged Sales Tax Revenues may be used by the Town far the payment of Debt Service Requirements of additional Subordinate Securities payable from the Pledged Revenues and hereafter authorized to be issued in accordance with this Ordinance and any other provisions herein supplemental thereto, including reasonable reserves for such Subordinate Securities, as the same accrue; but the lien of .such Subordinate Securities on the Fledged Revenues anc~ the pledge thereof far the payment of such Subordinate Securities shall be subordinate to the lien and pledge of the Warrants, the Superior General Obligation Sond s, Additional Parity Warrants and any Parity Securities as herein provided. H. Use of Remaining Revenues. After the payments hereinabove required to be made by Sections 5A through 5G hereof are made, at the end of any Fiscal Year, or whenever in any Fiscal Year there shall - have been credited to the Principal and Interest Fund, and•to the Reserve Fund, for the payment of the Warrants and any other securities payable from the Pledged Revenues all amounts required to be deposited in those special funds at that time, as herein provided, any remaining Pledged Sales Tax Revenues may be used for any lawful purpose as set forth in Ordinance No. 11, and any remaining moneys credited to the Land Transfer Tax Fund may be used only for any one or any combination of lawful purposes as set forth in Ordinance No. 26 and in Section 8B hereof , I. Budget and Appropriation of Funds. The sums provided to make the payments specified in this Section 5 are hereby appropriated for said purposes, and said amounts for each year sha11 be included in the annual budget and the appropriation ordinance or measures to be -31- l adopted or passed by the Town Council in each year respectively while any of the Warrants, either as to principal or interest, are Outstanding and unpaid. No provisions of any constitution, statute, charter, ordinance, resolution, or other order or measure enacted after the issuance of the Warrants shall in any manner be construed as limiting or impairing the obligation of the Town to keep and perform the covenants contained in this Ordinance so long as any of the Warrants remain Outstanding and unpaid. Nothing herein shall prohibit the Town Council from appropriating other funds of the Town legally available for this purpose to the Land Transfer Tax Fund or the Principal and Interest Fund for the purpose of providing for the payment of the principal of, interest on or any premiums due with respect to the Warrants. Section b. General Administration of Funds. A. Places and Times of Deposits. Each of the special funds created in Section 5 hereof, the Land Transfer Tax Fund and the Capital Improvements and Open Space Fund shall be maintained in a Commercial Bank as a book account kept separate and apart from all other accounts or funds of the Town as trust accounts solely for the purposes herein designated therefor. For purposes of investment of moneys, nothing herein prevents the commingling of moneys accounted for in any two or more such book accounts pertaining to the Pledged Revenues or to such fund and any other funds of the Town to be established under this Ordinance. Such book account shall be continuously secured to the fullest extent required or permitted by the laws of the State for the securing of public funds and shall be irrevocable and not withdrawable by anyone for any purpose other than the respective designated purposes of such funds or accounts, Each periodic payment shall be credited to the proper book account not later than the date therefor herein designated, except that when any such date shall be a Saturday, a Sunday or a legal holiday, then such payment shall be made on or before the next preceding business day, B. Investment of Funds. Any moneys in any fund established by this Ordinance or in the Land Transfer Tax fund or the Capital Improvements and Open Space Fund may be deposited, invested, or reinvested in any manner permitted by law. Securities or obligations -32- 1 purchased as such an investment shall either be subject to redemption at any time at face value by the holder thereof at the option of such holder, or shall mature at such time or times as shall most nearly coincide with the expected need for moneys from the fund in question. Securities ar obligations so purchased as an investment of moneys in any such fund shall be deemed at all times to be a part of the applicable fund; provided that, with the exception of the Reserve Fund, the interest accruing on such investments and any profit realized therefrom shall be credited to the Land Transfer Tax Fund, and any loss resulting from such investments shall be charged to the particular fund in question. Interest and profit realized from investments in the Reserve Fund shall be credited to the Reserve Fund, provided that, so long as the amount in the Reserve Fund equals at least $275,DDD, such interest and profit may be transferred to the Principal and Interest Fund and distributed in the same manner as other moneys in the Principal and Interest Fund. Any loss resulting from such investments in the Reserve Fund shall be charged to the Reserve Fund. The Town shall present for redemption or sale on the prevailing market any securities or obligations so purchased as an investment of moneys in a given fund whenever it shall be necessary to do so in order to provide moneys to meet any required payment or transfer from such fund. The Town shall have no obligation to make any investment or reinvestment hereunder, unless any moneys on hand and accounted for in any one account exceeds $5,a0a and at least $5,DOD therein will nat be needed for a period of not less than sixty (50) days. In such event the Town shall invest or reinvest not less than substantially all of the amount which will not be needed during such sixty (60) day period, except for any moneys on deposit in an interest bearing account in a Commercial Bank, without regard to whether such moneys are evidenced by a certificate of deposit or otherwise, pursuant to this Section 5B and Section 6D hereof; but the Town is not required to invest, or so to invest in such a manner, any moneys accounted for hereunder if any such investment would contravene the covenant concerning arbitrage in Section 8U hereof. C. No Liability for Losses Incurred in Performing Terms of ordinance. Neither the Town nor any officer of the Town shall be -33-- t i • liabl~or responsible for any to ~ resulting from any investn~nt or reinvestment made in accordance with this Ordinance. D. Character of k'unds. The moneys in any fund herein authorized shall consist of lawful money of the United States or investments permitted by Section 6B hereof or both such money and such investments. Moneys deposited in a demand or time deposit account in or evidenced by a certificate of deposit of a Commercial Bank pursuant to Sections 6A and 6B hereof, appropriately secured according to the laws of the State, shall be deemed lawful money of the United States, E. Accelerated Payments Optional. Nothing contained herein prevents the accumulation in any fund herein designated of any monetary requirements at a faster rate than the rate or minimum rate, as the case may be, provided therefor, but no payment shall be so accelerated if such acceleration shall cause a default in the payment of any obligation of the Town pertaining to the Pledged Revenues. Nothing herein contained requires in connection with the Pledged Revenues received in any Fiscal Year the accumulation in any fund or account for the payment in the Comparable Bond Year of Debt Service Requirements due in connection with any series of warrants, bonds or other securities payable from the Pledged Revenues and heretofore, herein or hereafter authorized, in excess of such Debt Service Requirements due in such Comparable Bond Year, or in excess of any reserves required to be accumulated and maintained therefor, and of any existing deficiencies, and payable from such fund or account, as the case may be, except as may be otherwise provided herein. Section 7. Priorities; Liens; Sssuance of Additional Bands and Additional Warrants. A. First Lien on Pledged Land Transfer Tax Revenues; Second Lien on Pledged Sales Tax Revenues. Except as expressly provided in this Ordinance with respect to the issuance of Additional Parity Warrants, Additional Parity General Obligation Bonds, Parity Securities and Subordinate Securities and subj ect to the prior and superior rights of Pr for General Obligation Bands to the Pledged Sales Tax Revenues, the Pledged Revenues shall be and hereby are irrevocably assigned, pledged and set aside to pay the Debt Service Requirements of the Warrants in anticipation of the collection of the Pledged Revenues. -34- ,~ • r l~ Warrants constitute an revocable and first lien abut not necessarily an exclusive first lien) upon the Pledged Land Transfer Tax Revenues. The Warrants are also equitably and ratably secured by a lien on the Pledged Sales Tax Revenues, but the Warrants, in accordance with the requirements of the Prior Ordinances, only constitute an irrevocable and second and subordinate lien {but not necessarily an exclusive second lien) upon the Pledged Sales Tax Revenues, such lien being second and subordinate to the Iien of the Outstanding Superior General Obligation Bonds. In connection with the Pledged Sales Tax Revenues and as required by the Prior Ordinances, the Town shall fully provide far the Debt Service Requirements of the Outstanding Superior General Obligation Bonds in any Fiscal Year and, only after such provision, may use such excess Pledged Sales Tax Revenues, if necessary, fbr the Debt Service Requirements of the Warrants, any Additional Parity Warrants and any other Parity Securities, by transferring such excess Pledged Sales Tax Revenues to the Principal and Interest Fund and the Reserve Fund as set forth in Sections 5C and 5D hereof but only to the extent that Pledged Land Transfer Tax Revenues are insufficient for that purpose. Such Warrants, any Additional Parity Warrants and any other Parity Securities hereafter authorized to be issued and from time to time Outstanding are equitably and ratably secured by a lien on the Pledged Revenues and shall not be entitled to any priority one over the other in the application of the Fledged Revenues regardless of the time ar times of the issuance of the Warrants, any Additional Parity Warrants and any other Parity Securities, it being the intention of the Town Council that there shall be no priority among the Warrants, any Additional Parity Warrants and any other Parity Securities, regardless of the fact that they may be actually issued and delivered at different times, B. Issuance of Farity Warrants. Nothing herein, subject to the limitations stated in Sections 7I and 7J hereof, prevents the issuance by the 'own of Additional Parity Warrants or other additional Parity Securities payable from the Pledged Revenues and constituting a lien on the Pledged Revenues on a parity with, but not prior or superior to, the lien thereon of the Warrants, or prevents the issuance of -35- warra.~.~cs or other securities refunding all or a part of the warrants, except as provided in Sections 7H through 7,7 hereof; but before any such Additional Parity Warrants or other additional Parity Securities are authorized or actually issued (excluding (i) any parity refunding securities refunding the Warrants, (ii) any Parity Securities refunding Additional Parity Warrants or additional Parity Securities, (iii) any Subordinate Securities as permitted in Section 7F hereof and (iv) Additional Parity Warrants in a principal amount not to exceed $3,500,000, if and only if such issuance is approved in writing by the Purchaser an or before March 1, 1981) the following provisions must first be satisfied: {1) Issuance on or Before March 1, 1981. The issuance of Additional Parity Warrants on or before March 1, 1981, must be approved in writing by the Purchaser. (2} Absence of Default. At the time of the adoption of the supplemental ordinance or other instrument authorizing the issuance of the Additional Parity Warrants as provided in Section 7d hereof, the Town sha11 not be in default in making any payments required by Section 5 hereof. (3) Historic Revenues Test. The Pledged Land Transfer Tax Revenues, as certified by an Independent Accountant, derived in the last complete Fiscal Year immediately preceding the date of the issuance of such Additional Parity Warrants or other Parity Securities, shall have been sufficient to pay an amount at least equal to 135 of the sum derived by adding the following (i) the Actual Debt Service Requirements of the Outstanding Warrants in that same last complete Fiscal Year, (ii) the Actual Debt Service Requirements of each and every other issue of Outstanding Additional Parity Warrants or other Parity Securities in that same last complete Fiscal Year, {iii) the Average Annual Debt Service Requirements for those Outstanding Warrants, Additional Parity Warrants or other Parity Securities for which (i} or (ii) hereof equals -0--, and (iv) the Average Annual Debt Service requirements for the Additional Parity Warrants or other Parity Securities proposed to be issued. (4} Projected Revenues Test. The estimated Pledged Land Transfer Tax Revenues, as reasonably estimated and certified by the Town -36- ~ i • Council, for the first full Fiscal Year next following the estimated date of issuance of the proposed Additional Parity Warrants shall be sufficient to pay an amount at least equal to 1350 of the sum derived by adding: (1} the Average Annual Debt Service for the Outstanding Warrants, and (2} the Average Annual Debt Service for all other Outstanding Additional Parity Warrants or other Parity Securities and (3} the Average Annual Debt Service for the Additional Parity Warrants or additional Parity Securities proposed to be issued, except as hereinafter otherwise expressly provided. (5) Adjustment of Pledged Revenues. In the computation of the projected revenues test in Section 7B(4} hereof, the amount of the Pledged Land Transfer Tax Revenues for such succeeding Fiscal Year may be increased by the amount of gain which will result from any increase in the amount of the Land Transfer Tax which will be applied to Transfers of Real Property in the Town during that succeeding Fiscal Year as provided in a final ordinance of the Town amending or supplementing Qrdinance No. 25 to provide for such increase. (6} Adequate Reserves. The proceedings under which any such Additional Parity Warrants or other additional Parity Securities are issued must provide for the deposits of moneys to the Reserve Fund from any source legally available to the Town, and contain a covenant by the Town to maintain the Reserve Fund, in an amount at least equal to the Average Annual Debt Service of the Additional Parity Warrants or other additional Parity Securities, which amount shall be in addition to the amounts required to be maintained in the Reserve Fund with respect to the Warrants or any other Additional Parity Warrants or additional Parity Securities issued prior to the proposed Parity Securities. (7} Authorized Purposes. The Additional Parity Warrants or other additional Parity Securities are issued solely for the purpose of paying the cost of projects of the Town consisting of the acquisition of real property for parks, recreational, open space or other similar purposes. C. Issuance of Superior Bonds. Nothing herein prevents the issuance by the Town of Additional Parity General Obligation Bonds payable from the Pledged Sales Tax Revenues and constituting a lien on _37_ • i • 1 "~ Pledged Sales Tax Revenues on a parity with the Prior Genera. Obligation Bonds and superior to the lien thereon of the Warrants and Additional Parity Warrants, or prevents the issuance of Additional Parity General Obligation Bonds refunding all or part of the Superior General Obligation Bonds; but before any such Additional Parity General Obligation Bonds are issued (excluding (i) any general obligation bonds refunding Prior General Obligation Bonds, (ii) any general obligation bonds refunding Additional Parity General Obligation Bonds, (iii) any Subordinate Securities as permitted in Section 7F hereof, and (iv) the Additional Parity General Obligation Bonds authorized to be issued by the electors of the Town on November 20, 1979, in a principal amount of not to exceed $7,000,000, which bonds may be issued in one or more series) the following provisions must first be satisfied: (1) Absence of Default. At the time of the adoption of the ordinance or other instrument authorizing the issuance of the Additional Parity General Obligation Bonds as provided in Section 7J hereof, the Tawn sha11 nat be in default in making any payments required by Section 5 hereof. (2) Historic Revenues Test - Pledged Sales Tax Revenues. The total sums, including the Pledged Sales Tax Revenues, as certified by an Independant Accountant, deposited to the Capital Improvements and Qpen Space Fund in the Last complete Fiscal Year immediately preceding the date of the issuance of such Additional Parity General Obligation Bonds shall have been sufficient to pay an amount at least equal to 1350 of the sum derived by adding the following: (i) the Actual Debt Service Requirements of the Outstanding Prior General Obligation Bonds in that same last complete Fiscal Year, ( ii) the Actual Debt Service Requirements of each and every other issue of Outstanding Additional Parity General Obligation Bonds in that same last complete Fiscal Year, (iii) the Average Annual Debt Service Requirements for those Outstanding Prior General Obligation Fonds or Additional Parity General Obligation Bonds for which (i) or (ii) hereof equals -0-, and (iv) the Average Annual Debt Service requirements for the Additional Parity General Obligation Bonds proposed to be issued. -38_ (3} Projected Revenues Tesz~ Pledged Sales Tax Revenue The estimated Pledged Sales Tax Revenues, as reasonably estimated by the Town Council, for the first full fiscal Year next fallowing the estimated date of issuance of the proposed Additional Parity General Obligation Bonds shall be sufficient to pay an amount at least equal to 1350 of the sum derived by adding: (1) the Average Annual Debt Service for the Outstanding Prior General Obligation Bonds, and {2} the Average Annual Debt Service for all other Outstanding Additional Parity General Obligations and (3} the Average Annual Debt Service for the Additional Parity General Obligation Bonds proposed to be issued, except as hereinafter otherwise expressly provided. {4) Historic Revenues Test - Pledged Land Transfer Tax. The Pledged Land Transfer Tax Revenues, any other revenues credited to the Land Transfer Tax Fund and legally available for the purpose of providing for the Debt Service Requirements of the Warrants and Additional Parity Warrants and any Pledged Sales Tax Revenues in excess of the 135% coverage requirement set forth in Section 7C(2} hereof, as certified by an Independent Accountant, derived in the last complete Fiscal Year immediately preceding the date of issuance of such Additional Parity General Obligation Bonds shall have been sufficient to pay an amount at least equal to 135a of the sum derived by adding the Average Annual Debt Service for the Outstanding Warrants to the Average Annual Debt Service for each and every other issue of Outstanding Additional Parity Warrants or other Outstanding Parity Securities. (5) Adjustment of Pledged Sales Tax Revenues. In the computations of the revenue test set forth in Section 7C{3} hereof the amount of the Pledged Sales Tax Revenues may be increased by the amount of gain, as reasonably estimated and certified by the Town Council, which would result from any increase in the amount of the Sales Tax as provided in a final ordinance of the Town supplementing or amending Ordinance No. 11 to provide far such increases. D. Reduction of Annual Requirements. The respective annual Debt Service Requirements set forth in Sections 7B and 7C hereof {including as such a requirement, the amount of any prior redemption premiums due on any Redemption Date as of which the Town shall have exercised or --3 9 - ~.: shall have obligated itself to exercise its prior redemption option by a call of bands or warrants far redemption) shall be reduced to the extent such Debt Service Requirements are scheduled to be paid in each of the respective Bond Years with moneys held in trust or in escrow for that purpose by any Trust Bank located within or without the State, including the known minimum yield from any investment of such moneys in Federal Securities and bank deposits, including any certificate of deposit, E. Certification of Revenues. In the case of the computation of the revenue tests provided in Sections 7B{3), 7B{~4), 7C{2), 7C(3) and 7C(~) hereof, and when adjusted in the manner provided in Sections 7B{5}, 7C(5} and 7D, the specified and required written certifications by the Independent Accountant or by the Town Council that such annual revenues are sufficient to pay such amounts as provided in Sections 7B{3), 7B(4}, 7C(2), 7C{3) and 7C{4) hereof shall be conclusively presumed to be accurate in determining the right of the Town to authorize, issue, sell and deliver Additional Parity Warrants or other additional Parity Securities on a parity with the Warrants or Additional Parity General Obligation Bonds as Superior Bonds. F. Subordinate Securities Permitted. Nothing herein, subject to the limitations stated in Sections 7I and 7J hereof, prevents the Town from issuing additional warrants, additional general obligation bonds or other additional securities for any lawful purpose payable Pram the k~ledged Revenues and having a Lien thereon subordinate, inferior and junior to the lien thereon of the Warrants. G. Superior Securities Prohibited, With Exception. Except as provided in Section 7C hereof, authorizing the issuance of Additional Parity General Dbligation Bonds, nothing herein permits the Town to issue additional warrants, additional bands or other additional securities payable from the Pledged Revenues and having a Tien thereon prior and superior to the lien thereon of the Warrants. H. Refunding Warrants or Bands. At any time after the Warrants, or any part thereof, are issued and remain Dutstanding, if the Town Council sha11 find it desirable to refund any Outstanding Warrants, Outstanding Superior General Obligation Bands, or other Outstanding securities payable from and constituting a lien upon any Pledged Land -40- I Transfer Tax Revenues and any Sales Tax Revenues, such Warrants, Superior General Obligation Bonds or other securities, or any part thereof, may be refunded regardless of whether the priority of the lien for the payment of the refunding securities on the Pledged Revenues is different from the priority of the lien for the payment of the refunded securities (except as provided in Section 7G); provided that the issuance of any such refunding warrants or other refunding securities (but nat general obligation bands or refunding Superior General Obligation Bands) shall be subject to the following additional requirements and conditions: (1) Surrender for Payment. The Warrants or other securities to be refunded, at the time or times of their required surrender for payment on refunding, shall either then mature or shall be then callable for prior redemption at the Town's option upon proper call, unless the Holder or Holders of all such Warrants or securities consent to Such surrender and payment. (2) Partial Refundings. In the event of a refunding of less than all of the Outstanding Warrants or less than all of the Outstanding securities of a particular issue thereof, the refunding warrants or refunding securities issued pursuant to this Section 7H shall enjoy complete equality of lien upon the Pledged Revenues with the unrefunded portion of the Warrants ar unref ended portion of any other Outstanding securities. In addition, the Holder or Holders of such refunding warrants or refunding securities shall be subrogated to, have, and enjoy all of the rights and privileges previously had and enjoyed by the Holder or Holders of the Warrants or securities refunded thereby. (3} Limitations Upon Refundings. Any refunding warrants or refunding securities payable from any Pledged Revenues shall be issued with such details as the Tawn may by ordinance or other instrument provide, subject to the provisions of Sections 7I and 7J hereof, and subject to the inclusion of the applicable rights and privileges designated in Section 7H(2), but without any impairment of any contractual obligation imposed upon the Town by any proceedings authorizing the issuance of any unrefunded portion of the Outstanding Warrants or any unrefunded portion of other Outstanding securities. -41- • • ~ ~ ~ {4) Protection of Warrants or Additional Warrants Not Refunded. I~ only a part of the Outstanding Warrants or other Outstanding securities of any issue or issues payable from the Pledged Revenues is to be refunded, then such part of said securities may not be refunded without the consent of the Holder or Holders of the unrefunded portion of such securities, unless: {a) Requirements Not Increased. Far the period of time up to and including the last maturity date or last Redemption Date, if any, whichever is later, of the Outstanding unrefunded Warrants or of any Outstanding unrefunded securities, the refunding warrants or refunding securities do not in any Bond Year cause the aggregate principal and interest due on such refunding warrants or refunding securities and the Outstanding unrefunded Warrants and any Outstanding unrefunded securities to exceed the aggregate principal and interest which would have been due in any such Bond Year but for the issuance of the refunding warrants or refunding securities, and unless the lien of the refunding warrants or refunding securities on the Pledged Revenues is not raised to a higher priority than the lien thereon of the Warrants or securities refunded thereby; or {b) Subordinate Lien. The lien on any Pledged Revenues for the payment of the refunding warrants or refunding securities is subordinate to each such lien for the payment of any Warrants or securities not refunded; or {c) Default and Coverage Test. The refunding warrants or refunding securities are issued in compliance with the Pledged Land Transfer Tax Revenue coverage requirements and the Reserve Fund Requirements of Section 7B hereof and the requirement of Section 7E hereof with respect to certification of revenues is met, but excluding from any computation thereunder the securities to be refunded and redeemed and which shall forthwith upon the issuance of the refunding securities be no longer Outstanding. -42- i~ s ~~ ~ ~ ~ 1. Payment Dates of Additional Warrants. Any Additional Parity or subordinate Warrants or other additional Parity or Subordinate. Securities (including, without limitation, any funding or refunding securities and subordinate additional general obligation bonds) issued in compliance with the terms hereof shall bear interest payable semiannually on the first days of February and August in each year, but the first interest payment date may be for interest accruing for any period not in excess in the aggregate of one year; and such .additional securities shall mature an February 1 in the year or years designated by the Town Council during the term of the additional warrants or other additional securities. This provision shall not apply to the Additional Parity General Obligation Bonds. J. Supplemental Ordinances. Additional warrants or other additional securities payable from any Pledged Revenues shall be issued only after authorization thereof by ordinance, supplemental ordinance or other instrument of the Town Council stating the purpose or purposes of the issuance of such additional securities, directing the application of the proceeds thereof to such purpose or purposes, directing the execution thereof, and fixing and determining the date, principal amount, maturity or maturities, designation and numbers thereof, the maximum rate or rates of interest to be borne thereby, any prior redemption privileges of the Town with respect thereto, and other provisions thereof in accordance with this Ordinance. All additional securities shall bear such date, shall bear such numbers and series designation, letters or symbols prefixed to their numbers distinguishing them from each other security issued :or to be issued, shall be payable at such place or places, may be subject to redemption prior to maturity on such terms and conditions, as may be provided, and shall bear interest at such rate or at such different or varying rates per annum, all as may be fixed by ordinance, instrument or other document of the Town Council. -43- 1 ~~ ^~~ ~ ~' ~ Se4tian 8. Covenants, The Town hereby particularly covenants and agrees with the Holders of the Warrants and coupons pertaining makes provisions which shall be a part Holders, which covenants and provision continuously until all of the Warrants been fully paid and discharged, to the that: thereto from time to time, and of its contract with such s sha11 be kept by the Town and the interest thereon, have effect and with the purpose A. Amendment of Ordinance No. 26 and Ordinance No. 11; Continuance and Collection of Taxes. Ordinance No. 26 and Ordinance No. ll are now in full force and effect and have not been repealed or amended, except that Ordinance No. 11 has been amended by Ordinance No. 8, Series of 1977, and by Ordinance No. 9, Series of 1979 and except that Ordinance No. 26 has been amended by Ordinance No. 5, Series of 1980, introduced on the same day as this Ordinance. The Town will not repeal or amend Ordinance No. 25 or Ordinance No, 11 in any manner which would diminish the Pledged Land Transfer Tax Revenue or the Pledged Sales Tax Revenue security for the Warrants, including the amendment of Section 5 of Ordinance No. 26 to provide for additional Transfers as Exempt Transfers. The Town will continue to levy, impose, administer, enforce and collect the Land Transfer Tax on all Transfers of Rea]. Property in the Town except Exempt Transfers in accordance with Ordinance No. 26, without reduction in the amount of the Land Transfer Tax as set forth in Section 4 of Ordinance No. 26. The Town will also continue to levy, impose, administer, enforce and collect the Sales Tax an the sale of tangible personal property at retail and the furnishing of services within the Tawn in accordance with Ordinance No, 11 without reduction in the amount of the Sales Tax as set forth in Section 5 of Ordinance No. 11. The Town shall maintain the Land Transfer Tax Fund as a fund of the Tawn separate and distinct from all other funds of the Town and shall place the proceeds of the Land Transfer Tax therein and, as set forth in Section 9 of Ordinance No. 25, said fund shall be subject to appropriation only for acquisition of real property far parks, recreation, open space or similar purposes. -44- ~ ~ ~~ The Town shall maintain the Capital improvements and Open Space Fund as a fund of the Town separate and distinct from all other funds of the Tawn and shall place the Pledged Sales Tax Revenues therein and, as set forth in Ordinance No. 11, said Fund shall be subject to appropriation only for real estate acquisition and for the acquisition, construction and equipping of buildings and facilities of the Town. The foregoing covenants are subject to compliance by the Town with any legislation of the United States ar the State or any regulation ar other action taken by the federal government or any State agency ar any political subdivision of the State pursuant to such legislation, in the exercise of the police power thereof for the public welfare, which legislation, regulation ar action applies to the Town as a Colorado home rule town and limits or otherwise inhibits the amount of such tax revenues due to the Town. All of the Pledged Revenues resulting from the imposition and collection of the Land Transfer Tax and the Sales Tax shall be subject to the payment of the Debt Service Requirements of all securities payable from the Pledged Revenues, including reserves therefor, as provided herein or in any instrument supplemental or amendatory hereto. B. Defense of Legality of Pledged Revenues; Application of Proceeds of Project; Use of Proceeds of Land Transfer Tax. There is not pending or threatened any suit, action or proceeding against or affecting the Town before or by any court, arbitrator, administrative agency ar other governmental authority which affects the validity or legality of this Ordinance, Ordinance Nos. 26 and 11, or the imposition and collection of the Land Transfer Tax or the Sales Tax, any of the Town's obligations under this Ordinance or any of the transactions contemplated by this Ordinance ar Ordinance Nos. 26 and 11. The Town shall, to the extent permitted by law, defend the validity and legality of the Land Transfer Tax, the Sales Tax and Ordinance Nos. 26 and 11, and all amendments thereto against all claims, suits and proceedings which would diminish or impair the Pledged Revenue security far the Warrants. Furthermore, the Town shall amend from time to time the provisions of Ordinance No. 26, _,~ 5~ i, incluaing without limitation provisia as necessary to prevent impairment of Revenues as required to meet the Debt Warrants when due. In the event that the Town sells, ns relating to Exempt Transfers, the Pledged Land Transfer Tax Service Requirements of the conveys, grants an easement across or otherwise encumbers the Project or any part thereof, the consideration received by the Town for the same shall be deposited in the Land Transfer Tax Fund and used in the manner set forth in this Section BB and in Ordinance No. 26. Except for the granting of required easements or the sale or conveyance of the Project or any part thereof to other political subdivisions of the State for the purpose and in a manner consistent with the purposes set Earth in Ordinance No. 26, no such sale ar conveyance shall be made at a sales price which is less than the fair market value of such conveyance as determined and certified by an independent zeal estate appraiser. The Town shall apply the proceeds of the Land Transfer Tax solely to the payment of the Warrants, any Additional Parity Warrants and any other Parity Securities and the acquisitions of real property, other than the Project, for parks, recreation, open space and other similar purposes as required by Ordinance No. 26. Except as specified in this Ordinance, the Town has not assigned or pledged the Pledged Revenues in any manner which would diminish the security fog payment of the Warrants. ' C. Application of Net Project Revenues. In the event that the Town has Grass Project Revenues in any year, the Tawn shall segregate the Grass Project Revenues to a separate and distinct income fund which it shall creat-.e for the purpose of receiving the Gross Project Revenues, providing for the payment of Operation and Maintenance Expenses and administering the Net Project Revenues in accordance with this Section. .fit the end of any Fiscal Year, the Tawn shall deposit any and all Net Project Revenues remaining in that year to the Land Transfer Tax Fund. D. Performance of Duties. The Town, acting by and through its officers, or otherwise., shall faithfully and punctually perform, ar cause to be performed, all duties with respect to the Pledged Revenues and the Project required by the Constitution and laws of the State, -46- the {.~~arter and the various ordinances, resolutions and contracts of the Town, including, without limitation, the proper segregation of the proceeds of the Warrants and the Pledged Revenues and their application from time to time to the respective funds provided therefor . E. Costs of Warrant Issue and of Performance. Except as otherwise specifically provided herein, all costs and expenses incurred in connection with the issuance of the Warrants, payment of the Debt Service Requirements, or with the Town's performance of or compliance with any covenant or agreement contained in this Ordinance, shall be paid exclusively (but only from the appropriate special fund in the manner authorized herein) from the proceeds of the Warrants, or from the Pledged Revenues, or from other legally available moneys, and in no event shah. any of such costs or expenses be required to be paid out of or charged to the general funds of the Town. F. Contractual Obligations. The Town will perform all contractual obligations undertaken by it under the Warrant Purchase Agreement with the Purchaser, as described in Section 4B hereof and any other agreements relating to the Warrants, the Pledged Revenues or the Project. G. Further Assurances. At any and all times the Town shall, so far as it may be authorized by law, pass, make, da, execute, acknowledge, deliver, and file or record all and every such further instruments, acts, deeds, conveyances, assignments, transfers, other documents, and assurances as may be necessary or desirable for the better assuring, conveying, granting, assigning and confirming all and singular the rights, the Pledged Revenues and other funds and accounts hereby pledged or assigned, or intended so to be, or which the Town may hereafter become bound to pledge or to assign, or as may be reasonable and required to carry out the purposes of this Ordinance. The Town, acting by and through its officers, or otherwise, shall at all times, to the extent permitted by law, defend, preserve and protect the pledge of the Pledged Revenues and other funds and accounts pledged hereunder and all the rights of every Holder of any of the Warrants against all claims and demands of all Persons whomsoever. -47- i~ ~ ~ H. Conditions Precedent. upon the date of issuance ot~ny of the Warrants, alI conditions, acts and things required by the Constitution or laws of the United States, the Constitution or laws of the State, the Charter, or this Ordinance, to exist, to have happened, and to have been performed precedent to or in the issuance of the Warrants shall exist, have happened and have been performed. and the Warrants, together with all other obligations of the Town, shall not contravene any debt or other limitation prescribed by the Constitution or laws of the United States, the Constitution or laws of the State ar the Charter. I. Efficient Operation and Maintenance. The Town shall at all times operate the Project properly and in a sound and economical manner. The Town shall maintain, preserve and keep the Project properly or cause the same so to be maintained, preserved, and kept, with the appurtenances and every part and parcel thereof in good condition, and shall from time to time make or cause to be made all necessary and proper replacements and renewals so that at all times the maintenance of the Project may be properly and advantageously conducted. All salaries, fees, wages and other compensation paid by the Tawn in connection with the maintenance and operation of the Project shall be reasonable and no more than would be paid by other municipal corporations for similar services. The Town shall include in its annual budgets and appropriations measures, amounts sufficient to pay for all municipal service so furnished. J. Records. The Town will keep proper books of record and account, separate and apart from all other records and accounts, showing complete and correct entries of all transactions relating to the funds established herein, and payments made from the Acquisition Fund . K. Rules, Regulations and Other Details. The Town, acting by and through its officers, shall establish and enforce reasonable rules and regulations governing the operation, care, repair, maintenance, management, control, use and services of the Project. The Town shall observe and perform all of the terms and conditions contained in this Ordinance and shall comply with all valid acts, rules, regulations, orders and directives of any legislative, executive, administrative or judicial body applicable to the Project or to the Town. -48- • • :~ h. Payment of Governmental Charges. The Town shall pay or cause to be paid all taxes and assessments or other municipal or governmental charges, if any, lawfully levied or assessed upon or in respect of the Project, or upon any part thereof, or upon any portion of the Pledged Revenues, when the same shall become due, and shall duly observe and comply with all valid requirements of any municipal or governmental authority relative to the Project, or any part thereof, except for any period during which the same are being contested in good faith by proper legal proceedings. The Town shall not create or suffer to be created any lien or charge upon the Project, or any part thereof, or upon the Pledged Revenues, except the pledge and lien created by this ordinance for the payment of the Debt Service Requirements due in connection with the Warrants, and except as herein otherwise permitted. The Town shall pay or cause to be discharged or shall make adequate provision to satisfy and to discharge, within ninety (90) days after the same shall become payable, all lawful claims and demands for labor, materials, supplies or other objects which, if unpaid, might by law become a lien upon the Project or any part thereof, or the Pledged Revenues; but nothing herein requires the Town to pay or to cause to be discharged or to make provision for any such tax, assessment, lien ar charge, so long as the validity thereof is contested in good faith and by appropriate legal. proceedings. M. Protection of Security. The Town, its officers, agents and employees, shall not take any action in such manner or to such extent as might prejudice the security for the payment of the Debt Service Requirements of the Warrants and any other securities payable from the Pledged Revenues according to the terms thereof. No contract shall be entered into nor any other action taken by which the rights of any Holder of any Warrant or other security payable from Pledged Revenues might be prejudicially and materially impaired or diminished. N. Accumulation of Interest Claims. In order to prevent any accumulation of coupons or claims for interest after maturity, the Town shall not directly or indirectly extend or assent to the extension of the time for the payment of any coupon or claim for interest on any of the Warrants or any other securities payable from -49- . ~ •~ i Pledged Revenues; and the Town sha11 not directly or indirec~y be a party to or approve any arrangements for any such extension or for the purpose of keeping alive any of such coupons or other claims for interest. If the time for the payment of any such coupons or of any other such installment of interest is extended in contravention of the foregoing provisians, such coupon or installment or installments of interest after such extension or arrangement shall not be entitled in case of default hereunder to the benefit ar the security of this Ordinance, except upon the prior payment in fu11 of the principal of all of the Warrants and any such securities or coupons the payment of which has not been extended. 0. Prompt Payment of Warrants. The Town shall promptly pay the Debt Service Requirements of every Warrant at the places, on the dates, and in the manner specified herein and in the Warrants and in the coupons thereto pertaining according to the true intent and meaning hereof . P. Use of Principal and Interest and Reserve Funds. The Principal and Interest Fund and the Reserve Fund shall be used solely and only, and the moneys credited to such accounts are hereby pledged, for the purpose of paying the Debt Service Requirements of the Warrants to their respective maturities or any Redemption Date or Redemption 1Jates on which the Town is obligated to redeem warrants, subject to the provisians concerning surplus moneys in Section 5D and subject to Section 9 hereof. Q. Additional Securities. The Town shall not hereafter issue any bonds or securities payable from Pledged Revenues other than the Warrants without compliance with the requirements with respect to the issuance of Additional Parity Warrants, Additional Parity General Obligation Bonds or other securities set forth herein. R, Other Liens. Other than as provided herein, there are no liens or encumbrances of any nature whatsoever on ar against the Project ar any part thereof or on ar against the Pledged Revenues derived or to be derived . S. Disposal of Project Prohibited. Except as provided in Section 8B hereof, neither all nor a substantial part of the Project sha11 be sold, mortgaged, pledged, encumbered, alienated or otherwise -5a- ~ • • disposed of, unta.l all Debt Service R therefor, or until including, without authorized. all of the Warrants have been paid in full, as to eguirements, or unless provision has been made the Warrants have otherwise been redeemed, limitation, the termination of the pledge as herein T. Surety Bonds. Each official or other person having custody of any Pledged Revenues or Gross Project Revenues, or responsible for their handling, shall be fully bonded at all times, which bond shall be conditioned upon the proper application of said moneys. U. Arbitrage Covenant. The Town covenants with the Holders of the Warrants that it will make no use of proceeds of the Warrants at any time during the term thereof which, if such use had been reasonably expected on the date the Warrants are issued, would have caused the Warrants to be arbitrage bonds within the meaning of Section 103(c) of the Tnternal Revenue Code of 1954. as amended, unless, under any provision of law hereafter enacted, the interest paid on the Warrants (a) shall be excludable from the gross income of a recipient thereof far federal income tax purposes without regard to whether or not the Warrants are arbitrage bonds, or (b) sha11 be exempt from all income taxation. Section 9. Defeasance. When all Debt Service Requirements of the Warrants have been duly paid, the pledge and lien and all obligations hereunder sha11 thereby be discharged and the Warrants shall no longer be deemed to be Outstanding within the meaning of this Ordinance. There shall be deemed to be such due payment when the Town has placed in escrow or in trust with a Trust Bank located within or without the State, moneys or Federal Securities in an amount sufficient (including the known minimum yield available for such purpose from Federal Securities in which such amount wholly or in part may be initially invested) to meet all Debt Service Requirements of the Warrants, as the same become due to the final maturities of the Warrants or upon any Redemption Date as of which the Town shall have exercised or shall have obligated itself to exercise its prior redemption option by a ca11 of Warrants for payment then. The Federal Securities shall become due prior to the respective times at which the proceeds thereof shall be needed, in -51- ~ li t acCAZ~ nCe with a schedule estac~zshed and agreed upon between the Town and such bank at the time of the creation of the escrow or trust, or the Federal Securities shall be subject to redemption at the option of the holder thereof to assure such availability as so needed to meet such schedule. Section 10. Default Provisions and Remedies of Warrantholders. A. Events of Default. Each of the following events is hereby declared to be and to constitute an Event of Default: {1) Nonpayment of Principal ar Premium. Payment of the principal of any of the Warrants, or any prior redemption premium due in connection therewith, or bath, is not made when the same becomes due and payable, either at maturity or by proceedings for prior redemption, or otherwise; (2) Nonpayment of Interest. Payment of any installment of interest is not made when the same becomes due and payable or within thirty {30} days thereafter; (3) Incapable to Perform. The Town far any reason is, or is rendered, incapable of fulfilling its obligations hereunder; {4) Nonperformance of Duties. The Town shall have failed to carry out and to perform (or in goad faith to begin the performance of) all acts and things lawfully required to be carried out or to be performed by it under any contract relating to the Pledged Revenues, to the Project, or to all or any combination thereof, or otherwise including, without limitation, this Ordinance, and such failure shall continue for sixty (60} days after receipt of notice from the Holders of 10~ in principal amount of the Warrants then Outstanding; (5) Appointment of Receiver. An order or decree is entered by a court of competent jurisdiction, with the consent or acquiescence of the Town, appointing a receiver or receivers for the Pledged Revenues and any other moneys subject to the lien to secure the payment of the Warrants, or if any order or decree, having been entered without the consent or acquiescence of the Town, is not vacated or discharged or stayed on appeal within sixty {60) days after entry; (6) Default of Any Provision. The Town makes any default in the due and punctual performance of any other of the representations, covenants, conditions, agreements and other provisions contained in ~.~~_ the Warrants or in this Ordinance on its part to be performed, and if such default continues for sixty (60) days after written notice, specifying such default and requiring the same to be remedied, is given to the Town by the Holders of 10~ in principal amount of the Warrants then Outstanding. B. Remedies for Defaults. Upon the happening and continuance of any of the Events of Default, as provided in Section l0A hereof, then and in every case the Holder or Holders of not less than 10~ in principal amount of the Warrants then Outstanding, including, without limitation, a trustee or trustees therefor, may proceed against the Town and its agents, officers and employees to protect and to enforce the rights of any Holder of Warrants ar coupons under this Ordinance by mandamus or by other suit, action, or special proceedings in equity or at law, in any court of competent jurisdiction, either for the appointment of a receiver or an operating trustee or for the specific performance of any covenant ar agreement contained herein or for any proper legal or equitable remedy as such Holder ar Holders may deem most effectual to protect and to enforce the rights aforesaid, or thereby to enjoin any act or thing which may be unlawful or in violation of any right of any Holder of any Warrant, ar to require the Town to act as if it were the trustee of an expressed trust, or any combination of such remedies, or as otherwise may be authorized by any statute or other provision of law. All such proceedings at law or in equity shall be instituted, had and maintained for the equal benefit of all Holders of the Warrants, any Parity Securities, and the coupons then Outstanding. Any receiver or operating trustee appointed in any proceedings to protect the rights of such Holders hereunder, the consent to any such appointment being hereby expressly granted by the Town, may collect, receive and apply all Pledged Revenues arising after the appointment of such receiver or operating trustee in the same manner as the Town itself might do. C. Rights and Privileges Cumulative. The failure of any Holder of any Outstanding Warrant to proceed in any manner herein provided shall not relieve the Town, or any of its officers, agents or employees of any liability for failure to perform or carry out any duty, obligation or other commitment. Each right ar privilege of any -53w • w such uolder (or trustee thereof, 'is in addition and is cumu.~a'tive to any other right or privilege, and the exercise of any right or privilege by or on behalf of any Holder shall not be deemed a waiver of any other right or privilege thereof. Each Holder of any Warrant shall be entitled to all of the privileges, rights and remedies provided ar permitted in this Ordinance and as otherwise provided or permitted by law or in equity or by other statutes, except as provided in Section 12A and l2B hereof, and subject to the applicable provisions concerning the Pledged Revenues and the proceeds of the Warrants. Nothing herein affects or impairs the right of any Holder of any Warrant to enforce the payment of the Debt Service Requirements due in connection with his Warrant or the obligation of the Town to pay the Debt Service Requirements of each Warrant to the Holder thereof at the time and the place expressed in such Warrant and in the appurtenant coupons. D. Duties Upan Defaults. Upon the happening of any of the Events of Default as provided in Section l0A hereof, the Town, in addition, will do and perform all proper acts on behalf of and for the Holders of the Outstanding Warrants and caupans pertaining thereto to protect and to preserve the security created for the payment of their Warrants and coupons and to insure the payment of the Debt Service Requirements promptly as the same become due. During any period of default, so long as any of the Warrants or coupons, as to any Debt Service Requirements, are Outstanding, except to the extent it may be unlawful to do so, all Pledged Revenues shall be paid into the Principal and Interest Fund, or, in the event of securities hereafter issued and Outstanding d wring such period of time on a parity with the Warrants, shall be paid into the Principal and Interest Fund for all Parity Securities, including the Warrants, on an equitable and prorated basis, and used for the purposes therein provided. If the Town fails or ref uses to proceed as in this Section provided, the Haider or Holders of not less than 10~ in principal amount of the Warrants then Outstanding, after demand in writing, may proceed to protect and to enforce the rights of the Holders of the Warrants as hereinabove provided; and to that end any such Holders of Outstanding Warrants shall be subrogated to all rights of the Town under any -5~- ~ ~ agreement or contract involving the Pledged Revenues entered into prior to the effective date of this Ordinance or thereafter while any of the Warrants are Outstanding. Nothing herein requires the Town to proceed as provided herein if it determines in good faith and without any abuse of its discretion that such action is likely to affect materially and prejudicially the Holders of the Outstanding Warrants and any Outstanding Parity Securities. E. Evidence of Securityholders. Any request, consent or other instrument which this Ordinance may require or may permit to be signed and to be executed by the Holder of any Warrants or other securities may be in one instrument or more than one instrument of similar tenor and shall be signed or may be executed by each Holder in person or by his attorney appointed in writing. Proof of the execution of any such instrument or of any instrument appointing any such attorney, or the holding by any Person of the securities or coupons pertaining thereto, shall be sufficient far any purpose of this Ordinance (except as otherwise herein expressly provided) if made in the fallowing manner: (1) Proof of Execution. The fact and the date of the execution by any Holder of any Warrants or other securities ar his attorney of such instrument may be proved by the certificate, which need not be acknowledged or verified, of any officer of a bank or trust company satisfactory to the Town Clerk or of any notary public or other officer authorized to take acknowledgments o~f deeds to be recorded in the state in which he purports to act, that the individual signing such request or other instrument acknowledged to him the execution, duly sworn to before such notary public or other officer; the authority of the individual or individuals executing any such instrument on behalf of a corporate holder of any securities may be established without further proof if such instrument is signed by an individual purporting to be the president or vice-president of such corporation with the corporate seal affixed and attested by an individual purporting to be its secretary or an assistant secretary; and the authority of any Person or Persons executing any such instrument in any fiduciary ar representative capacity may be established without further -55- ~~ ~ ~ p~.oof if such instrument is signed by a Person or Persons purporting to act in such fiduciary or representative capacity; and (2) Proof of Holdings. The amount of Warrants or other securities transferable by delivery held by any Person executing any instrument as a holder of securities, and the numbers, date and other identification thereof, together with the date of his holding the securities, may be proved by a certificate which need not be acknowledged ar verified, in form satisfactory to the Town Clerk, executed by a member of a financial firm or by an officer of a bank or trust company, insurance company or financial corporation or other depository satisfactory to the Tawn Clerk, or by any notary public or other officer authorized to take acknowledgments of deeds to be recorded in the state in which he purports to act, showing at the date therein mentioned that such Person exhibited to such member, officer, notary public or other officer so authorized to take acknowledgments of deeds or had on deposit with such depository the securities described in such certificate; but the Town Clerk may nevertheless in his discretion require further or other proof in cases where he deems the same advisable. F. Warranty [3pon Issuance of Warrants. Any of the Warrants as herein provided, when duly executed and delivered for the purpose provided for in this Ordinance shall constitute a warranty by and on behalf of the Town for the benefit of each and every future Holder of any of the Warrants that the warrants have been issued for a valuable consideration in full conformity with law. G. immunities of Purchaser. The Purchaser and any associate thereof are under no obligation to any Holder of the Warrants for any action that they may or may not take or in respect of anything that they may or may not do by reason of any information contained in any reports or other documents received by them under the provisions of this Erdinance. The immunities and exemption from liability of the Purchaser and any associate thereof hereunder extend to their partners, directors, successors, assigns, employees and agents. -56- s' i i~ i ~ ~~ Section 11. Amendment of Ordinance. A. Privilege of Amendments. This Ordinance may be amended or mad ified by ordinances or other instruments duly adopted by the Town Council, without receipt by it or any additional consideration, but with the written consent of the Holders of 66g in aggregate principal amount of the Warrants and Outstanding at the time of the adoption of such amendatory ordinance or other instrument, including any Outstanding refunding securities as may be issued for the purpose of refunding any of the Warrants, provided that na such amendatory or modifying instrument shall permit: (1} Changing Payment. A change in the maturity or in the terms of redemption of the principal of any Outstanding warrant or any installment of interest thereon; or (2) Reducing Return. A reduction in the principal amount of any Warrant, the rate of interest thereon, or any prior redemption premium payable in connection therewith, without the consent of the Holder of the Warrant; or (3) Prior Lien. Except as provided in Section 7C hereof, the creation of a lien upon or a pledge of revenues ranking prior to the lien or to the pledge created by this Ordinance; or (4) Modifying Amendment Terms. A reduction of the principal amount or percentages of Warrants, or any modification otherwise affecting the description of Warrants, or otherwise changing the consent of the Holders of Warrants, which may be required herein far any amendment hereto; or (5} Priorities Between Warrants. The establishment of priorities as between Warrants issued and Outstanding under the provisions of this Ordinance; or (6) Partial Modification. Any modifications otherwise materially and prejudicially affecting the rights or privileges of the Holders of less than all of the Warrants then Outstanding. Whenever the Town Council proposes to amend or modify this Ordinance under the provisions of this Section 11 it shall give notice of the proposed amendment by publication at least one (1) time by one (1} publication, in The Vail Trail, Vail, Colorado, if then in business and publishing (and if not, then in a newspaper of general ~-57- ~~ circu~atian in the Town), and in ~~ie Daily Band Buyer, New Yank, New York, if then in business and publishing land if not, then in a similar financial newspaper or journal published in New York, New York, as determined by the Town Council), such notice to be deemed complete upon the last such publication; and copies of such notice shall be mailed within thirty (30} days after such last publication to the Purchaser of the Warrants, or to any successor thereof known to the Town Clerk and to all such Holders of Warrants as have furnished their names and addresses to the Tawn Clerk pursuant to Section 3B(2} hereof. Such notice shall briefly set forth the nature of the proposed amendment and shall state that a copy of the proposed amendatory ordinance or other instrument is on file in the office of the Town Clerk for public inspection. B. Time for Amendment. Whenever at any time within one year from the date of the completion of the notice required to be given by Section 11A hereof there shall be filed in the office of the Town Clerk an instrument or instruments executed by the Holders of at least 66~ in aggregate principal amount of the Warrants then Outstanding, Which instrument ar instruments shall refer to the proposed amendatory ordinance or other instrument described in such notice and shall specifically consent to and approve the adoption of such ordinance or other instrument, thereupon, but not otherwise, the Town Council may adopt such amendatory ordinance ar instrument and such ordinance or instrument shall become effective. If the Holders of at least 66~ in aggregate principal amount of the Warrants then Outstanding, at the time of the adoption of Such amendatory ordinance or instrument, or the predecessors in title of such Holders, shall have consented to and approved the adoption thereof as herein provided, no Holder of any Warrant whether ar not such Holder shall have consented to or shall have revoked any consent as herein provided shall have any right or interest to object to the adoption of such amendatory ordinance or other instrument or to object to any of the terms ar provisions therein contained or to the operation thereof ar to enjoin or restrain the Town from taking any action pursuant to the provisions thereof. Any consent given by the Holder of a Warrant pursuant to the provisions hereof shall be irrevocable far a period of six (6) months -58- from the date of the completion o the notice above provided ror and shall be conclusive and binding upon all future Holders of the same Warrant during such period. Such consent may be revoked at any time after six {6) months from the completion of such notice, by the Holder who gave such consent or by a successor in title, by filing notice of such revocation with the Tawn Clerk, but such revocation shall not be effective if the Holders of 66g in aggregate principal amount of the Warrants Outstanding as herein provided, prior to the attempted revocation, shall have consented to and approved the amendatory instrument referred to in such revocation. C. Unanimous Consent. Notwithstanding anything in the foregoing provisions contained, the terms and the provisions of this Ordinance, ar of any ordinance or other instrument amendatory thereof and the rights and the obligations of the Town and of the Holders of the Warrants and coupons thereunder may be modified or amended in any , respect upon the adoption by the Town and upon the filing with the Town Clerk of an instrument to that effect and with the consent of the Holders of all the then Outstanding Warrants, such consent to be given in the manner provided. in Section 11B hereof; and no notice to Holders of Warrants, either by mailing or by publication, shall be required as provided in Section 11A hereof, nor shall the time of consent be limited except as may be provided in such consent. D. Hxclusion of Town's Warrants. At the time of any consent or of other action taken hereunder the Town shall furnish to the Town Clerk a certificate, upon which the Tawn Clerk may rely, describing all Warrants to be excluded far the purpose of consent or of other action or of any calculation of Outstanding Warrants provided for hereunder, and,-with respect to such excluded Warrants, the Tawn shall not be entitled or required with respect to such Warrants to give or obtain any can5ent or to take any other action provided far hereunder. E. Notation on Warrants. Any of the Warrants delivered after the effective date of any action taken as provided in this Section 11, or Warrants Outstanding at the effective date of such action, may bear a notation thereon by endorsement or otherwise in form approved by the Town Council as to such action; and if any such Warrant so authenticated and delivered after such effective date does not bear -59- such ,otatzon, then upon demand o~the Holder of any Warrant' Outstanding at such effective date and upon presentation of his Warrant for such purpose at the principal office of the Town, suitable notation sha11 be made on such Warrant by the Town Clerk as to any such action. If the Tawn Co-until so determines, new warrants so modified as in the opinion of the Town Council to conform to such action shall be prepared, authenticated and delivered; and upon demand of the Holder of any Warrant then Outstanding, shall be exchanged without cost to such Holder for Warrants then Outstanding upon surrender of such Outstanding Warrants with all unmatured coupons pertaining thereto. F. Proof of Instruments and Warrants. The fact and date of execution of any instrument under the provisions of this Section ll, the amount and number of the Warrants held by any Person executing such instrument, and the date of his holding the same may be proved as provided by Section l~E hereof. Section 12. Miscellaneous. A. Character of Agreement. None of the covenants, agreements, representations, or warranties contained herein or in the Warrants, shall ever impose or shall be construed as imposing any liability, obligation, or charge against the Town (except for the special funds pledged therefor) or against the general credit of the Town payable out of general funds or out of any funds derived from general property taxes. B. Na Pledge of Property. The payment of the Warrants is not secured by an encumbrance, mortgage or other pledge of property of the Town except for the Pledged Revenues of the Town. No property of the Tawn, subject to such exception with respect to the Pledged Revenues pledged for the :payment of the Warrants, sha11 be liable to be forfeited or taken in payment of the Warrants. C. Statute of Limitations. No action or suit based upon any Warrant, coupon or other obligation of the Town shall be commenced after it is barred by any statute of limitations pertaining thereto. Any trust or fiduciary relationship between the Town and the Holder of any Warrant or coupon or the obligee regarding any such obligation shall be conclusively presumed to have been repudiated on the maturity -60- date ~r other due date thereof un~ss the Warrant or coupon ~s ' presented for payment or demand for payment of such other obligation is otherwise made before the expiration of the applicable limitation period. Any moneys from whatever source derived remaining in any account reserved, pledged or otherwise held for the payment of any such obligation, action or suit, the collection of which has been barred, shall revert to the Land Transfer Tax Fund, unless the Town Council shall otherwise provide by ordinance of the Town. Nothing herein prevents the payment of any such Warrant, coupon, or other obligation after an action or suit for its collection has been barred if the Town Council deems it in the best interests of the Town or the public so to do and orders such payment to be made. D. Delegated Duties. The officers of the Town are hereby authorized and directed to enter into such agreements and take all action necessary or appropriate to effectuate the provisions of this Ordinance and to comply with the requirements of law, including, without limitation: (1) Printing Warrants. The printing of the Warrants, including at the option of the Town Council the printing upon each such Warrant of a copy of the legal opinion of DeMuth, Kemp & Backus, bond counsel, duly certified by the Town Clerk; (2) Final Certificates. The execution of such certificates as may be reasonably required by the Purchaser, relating, inter a,lia, to: {a} The signing of the Warrants; (b) The tenure and identity of the officials of the Town; (c) If in accordance with fact, the absence of litigation, pending ar threatened, affecting the validity of the Warrants; (d) The delivery of the Warrants and the receipt of the Warrant purchase price; (e) The exemption of interest on the Warrants from federal income taxation; {f) The making of various statements, recitals, certifications and warranties provided in the form of Warrant set forth in this Ordinance; and -61~- ~, r s~ (g) A statement co,.,erning the disclosure of ' information provided in any Warrant offering brochure, preliminary official statement, official statement or offering circular for prospective buyers of the Warrants. (3) Tnformation. The assembly and dissemination of financial and other information concerning the Town and the Warrants; (4) Official Statement or Offering Circular. The preparation of a Warrant offering brochure, preliminary official statement, official statement, or offering circular, for the use of prospective buyers of the Warrants, including, without limitation, Such use by the Purchaser and its associates, if any; and (5) Warrant Sale. The execution of the Warrants and the sale, issuance, and delivery of the Warrants to the Purchaser pursuant to the provisions of this Ordinance. E. Successors. Whenever herein the Town is named or is referred ta, such provision shall be deemed to include any successors of the Town, whether so expressed or not. All of the covenants, stipulations, obligations and agreements by or an behalf of and other provisions far the benefit of the Town contained herein shall bind and inure to the benefit of any officer, board, district, commission, authority, agency, instrumentality or other person or persons to wham or to which there shall be transferred by or in accordance with law any right, power or duty of the Town or of its respective successors, if any, the possession of which is necessary or appropriate in order to comply with any such covenants, stipulations, obligations, agreements or other provisions hereof. F. Rights and Immunities. Except as herein otherwise expressly provided, nothing herein expressed or implied is intended or shall be construed to confer upon or to give to any Person, other than the Town, and the Holders from time to time of the Warrants and the coupons thereunto pertaining, any right, remedy ar claim under or by reason hereof or any covenant, condition or stipulation hereof. All the covenants, stipulations, promises and agreements herein contained by and on behalf of the Town shall be for the sole and exclusive J^ -52- • -~-, benea. t of the Town, and any Hola~ of any of the Warrants aria the coupons thereunto pertaining. No recourse shall be had for the payment of the Debt Service Requirements of the Warrants or for any claim based thereon or otherwise upon this Ordinance authorizing their issuance or any other ordinance or instrument pertaining thereto, against any individual member, or any officer or other agent of the Town, past, present or future, either directly or indirectly through the Town, or otherwise, whether by virtue of any constitution, statute or rule of law, Charter provision or by the enforcement of any penalty or otherwise, all such liability, if any, being by the acceptance of the Warrants and as a part of the consideration of their issuance specially waived and released, G. Ratification. All action heretofore taken (not inconsistent with the provisions of this Ordinance) by the Town or its officers, and otherwise by the Town directed: (1) Project. Toward the Project, and (2) Warrants. Toward the sale and delivery of the Warrants for that purpose, be, and the same hereby is, ratified, approved and confirmed. H. Facsimile Signatures. Pursuant to the Uniform Facsimile Signature of Public Officials Act, part 1 of article 55 of title 11, Colorado Revised Statutes 1973, as amended, the Mayor and the Town Clerk shall forthwith, and in any event prior to the time the Warrants are delivered to the Purchaser thereof, file with the Colorado Secretary of State their manual signatures certified by them under oath, using a suitable Facsimile Signature Certificate for said purpose. T. Ordinance Irrepealable. This Ordinance is, and shall constitute, a legislative measure of the Town and after any of the Warrants are issued, this Ordinance shall constitute an irrevocable contract between the Town and the Holder or Holders of the Warrants; and this Ordinance, subject to the provisions of Sections 9 and ll hereof, if any Warrants are in fact issued, shall be and sha11 remain irrepealable until the Warrants, as to all Debt Service Requirements, shall be fu11y paid, cancelled and discharged, as herein provided. -53- ~`°., ~~ r J.-~" Repealer. All resolutions, bylaws, orders, and othe'~~' ~- instruments, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed to revive any resolution, bylaws, order, or other instrument, or part thereof, heretofore repealed. K. Severability. If any section, subsection, paragraph, clause or other provision of this Ordinance shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability thereof shall not affect any of the remaining sections, subsections, paragraphs, clauses or provisions of this Ordinance. L. Public Hearing. A public hearing on this proposed Ordin~a.nce +1 ` shall be held by the Town Council at 7:30 p.m. on Friday, January ;~8, 1980, at the Vail Municipal Building, Vail, Colorado, and it is hereby ordered that notice of said hearing be given as required by law. INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONCE IN FULL THIS 8TH DAY OF JANUARY, 1980. (TOWN) (SEAL) Attest: Town Clerk TOWN OF VA IL, COLORADO ~-- /f BY l `~ Ma r PASSED ON SECOND READING AS AMENDED, ADOPTED, ENACTED, APPROVED AND ORDERED PUBLISHED ONCE IN FULL THIS 18TH DAY OF JANUARY, 1980. (TOWN) (SEAL) Attest: Town Clerk TOWN OF VAIL, COLORADO ,~' ~ T ~ ~T Mayor / ~ f -6~-- s h i f c ~ a ~ ~ ro n O ~ o Q- ~• ^ 0 O Q Q ~ o O c~ ~ ~- 0 ~~ _ ro ~~ QQ Y~ ~ i ro ! Q i £~' ,C Q :~ ~ ~ t~ ~ ~~ ~ ~ p' a ~w a E *"' lQ t ~ ~' ro p c ~ ~ ~0 0 Q ~ • ~ -o y o ro ~ -~ sao~~~^.no~-* p ~ - ~ { ~ ~ ~ 6 n' CZ 7 ~ fD ~ -r ~ wQ +p"~ jCD(} ~ - o ~,~ ~ (p ~ ~ 7' ~ ~ C m ~ y i B p o ro C ~ ro ~QO~ p p o Q~- o ~ O ~ LL o _ro o ~ ~°~ n.~~ccn~ ~ T' O O ~ O (D ~ ~ Q ~~-roro~~Qrom ~ ~ O o c~ o ~ ~~-+o ~ Q _ ~ m°.~rom ~ ~ ~ D ~ m ~ O ~' {-~- Q ~ 6 ~ ~ n ~ (D Q AFC Q o ~Qa`~o~~on ~+ ~ ~ c a ro ~j~ fl ~ (D ~ ~~flQ-"(DQpQ= o Q ~ ro Q ro-*~Qa -ro~< ~ ~ N ~ ~ ~ *~Cb~Q ~ a ~ 3 ~ ~ ~ ~ m ( D ~ ~ _ ~„ aom~oQ~.Qa ~ ~ ~ ~ m Q°-~4~o~~D ro j o ~ ro ~ ~~ ~om~ ~° ~ Q ~ ~ -F ~ rt S^ N `' O ~~^ Q H rn ° ° fl ~ roQ~~~~O~o~ ~- "~.mro~ro D ~ 1 -~ D o p ~' ~ `~ fl ~ pO roro7~ ~~ y ~ ~ y Q o JI ~n ~ p Q. O ~' ~•oro~c ~n~o3 ~ Q -~+~ ~p Q mro O Z (~ Q b ~ s N s ~ Q ~~ ?ro~Q ~ O Q D ~ ~,. ~ m m ~ fi~ ~ ro Q ro ~ a ~ ~ ~ p ~~ ~~ ?~° ° ~~ ~ m ro ~ -+ - o~°°~°~ Q ~ m ~ Q ~ ~ o ~ cQ o~ ~~ n 3~ ~~ nro ~ ~ ~ Q Q 3 ro ~, r G . Q ~ romoco~ ~ p ~''~ 4.~p 6~~ 4 Q ~ O m p a C ro ~ ~floo_ro Q(~ ~ mom Q m °~ ~ Q ~ ~ Q c " (D~;af1Q~Q0CD ~ a ~, ;~. • Public Notice DaaINAHCC NO. t eariaF of 19tl AN ORDINANCE MAKING AMENDMENTS FO TITLE 90F THE YAILMUNICrPAL COOEANO PROYIO1Np FOR THe APPEAL AND REENACTMENT OF $f CTION lD1100 YyIO~LATIIp~Ne6 OF PPUq O}v19l DENS ~OF KTHE lie. E CEPT HP THE CAUEOOF VIOLAfiDN$ ' OF TkE MODEL TRAFFIC CODE PUNISHABLE RV A FINE OF NOT M071k1 THAN F1pp,dp, AND PPOYIpIN6 DETAILR IN RELATION TO THE FOREOOINO. Capin el M!F Ordl Mltte ire aWllebh IOr ' WNicinpeggn MlM WllcaglMTawnClg4 during nprmM worFlnp nw». INTRO-UCED. flEAO. AOOPTEp ANA QRDERED PURUSNFP BY TITLE ONLY, NIF yM day of hbulry, stye, ' ~ ~ -. ~ ~ TOWN OF YAit ' Rednay E. $tlhr Mayo AT'TEBP.~ ColMen M. XYM TOAn CYMi - PWIIFhetl inTMYepTr.llan Faquuy9, tiip Public Notice . pgDINANCe Ne, i ' • BUMF of 1916 ' COMMIT THE OFFENSE OF LARCENY.I rV CaplFa el {FN MdIMIICF 1» aYelllble fIX ' - pdglclMpFCllonlnlheolllb PlMa7Pwa Clqk tludrg, normq worklrp hW». 3NTRODl1CEp, REAV. AUOPTED AAlO ORDEPEO PV9USHEO BY TITLE ONLY, IMF SIN ddy pl February. 1 pee. SOWN OF PAIL Rooney E. 81Nq ATTEST: Mayor Cotton M. Kllry -. To.wr Clgt PVblyhad in TM} Yikl Trlfl art FFW W rY6, 1900 PubiiG Notice ORDiN11NCe NQ 7 - exln el ipso ' AN ORDINANCE ANNE%INR TO THE TOWN OF yAll EIGHY pANCELSOF PROPERTY LQCATED IN EAGLE COUNTY, COLORApO, - , Pr~SEN LY OWNED 6Y THE UNITeO ' 9TATE9 FOREST SERVICE: AND SETTINp ' FOflTN FINDINDSA DCONCL VSIONSANO ' Rail Crossing s Data Available ~A new pLblidadon available pk .Y~. !°~ the IlepartmenC of Hlghwaya ahouid prove Iii value to logal ' govettlment Dfficlals Interested In railroad crossing' prdectiotl, ' The book; covers grade crossings oD tbs. segments of ' Federal Aid Urban System that aren't an the State Highway - ;System. - ' Gets spawn includes lilentittcatioa nnmber of the '~ ± LxtlasiEfg, track owners, croas~ILg tncatl0nr plafuliflg managemegt region, number of roadway - tiiraugh lanes, highway {rattle' ' .'data, number a through•traiA 4 movtSments, hazard ,ratings, - °; traf[lcmarkings,eMmanyothei' =items. ? The volume, a cooperative. vesture of the department'; -~~'~Trnnsportation Planning I)kvlsion and Federal Eitghwsy Administration, to available to ~~ _= Room 117 at 9201 bast Arkansas ' I Ave. in I~tLVer. Cast is ;i0, to detray:theprinlingexpenseolEhe" ] Inch-thick volume: OTNlR OSTAILS IN flELATIpN THEPET V. Ccdn m Ina ormn.nce l» lrulnbk far puahb Imgcrlan intMdhosd the TpwRClerK dudlg rprmel wertlnp ncurF: INTRODUCED, READ. ADOPTED AND 3VIh tllY eOFI~ FI~HEOtlaHY TFTLE VNLY. IAM TOWN OF yhlL RoeneV f.~ YIXr ATTEST CoII~NC1i'ylfllrx ArLlllnee fn Tha YFIFTIFVI an FebrexY+, tae0. Public Notice ' oaalNaNCeNaI NnFS d ttlp IAF Pv611Mxl PnJ nu Yu'QItaE01 AN pq DINANDf RELATING TO THE ISSUANCE of TOWN OF VAIL, COLORADO. LAND TMNRFER TA% ANTICIPATEpN WARRAN T6, Bf RIE.6 13e0A. GATED FEBRWRY I. Ipso, IN THE PRINCIPAL AMOVNT OF 55,860.000, FOR THE PURPOSE OF ACOUIRINU REAL PROPERTY TO 6E V8E0 FOR OPEN SPADE, RECREATIONAL Ofl PARK PUgPpBEB. 6E IT pRDAlNED BY THE TOWN COVNCIL OF THE TOWN OF PAIL, COLORApD. Tyl/YI: One, two and three bedroom trolls on the first tee of the Vail ~olf'Course. 80e/D owner financing avallabfe. 72:S9o }or 30 years. 24 month baltgon, No points. Call Mike FTelrrler Real Estate for more information. ~~~ ~~~ 6n6sssiss aYS-1370 , F ' The Voil Tr¢il - February g, 19ffp 41 fi011TDQM~.tF~Y F..d~ i . A ~ ~ ~ i REAL'1Y OF VAIL, fNC. ~'~~ OPEN SEVEN DAYS A WEEP( ar„t9.YS ll'RO~d T~$.l'>yONnOL~A Thee vantage PaIDR 2 bedroom, a Aattt condo um hHe ae own ®rDla a+od le totallyeir0 rei Hd Paeetble oymer nnarnmg (¢ QIIallaBd b5prer.,.i190,00(1. aleeae oaq sod eak for Syn Waeda - La~weASQVa~m IiO~a@11asFaa.R OWNE$ANCING A Brent motel unit atepe~NOm the ondols. seller will anavrca,.i7appp, For mare Wammarlun nontaw 8rla Baclimasp ar Van >4FI'lnS. >P3A$T vraxiF co~DO OnbsiBVVUte.1,14pgglFamf691.96edrgoay2hath,4 bveieMlmttwahaxlelare~ l+0om.01PnBrwlil anarlea.allaaW, Cat1 Don D'OtFOhw for mote aelaea eaiu~r`mu' ~ w~, ~y a~eco~ c~en~~~,1ae e~C•r.Un~mee~oal2 s alesxCrb~O naoliLaAn. T+D~ gn' .. ~m...k .; As D Tree CondoDLLntvme 1n 8azld9tona area V law Dr 1.1aneHead slopes. Tpla well eltvated E bedroom. 1 bow CO-dmystalum le rrvllV Shrniahed yrLw 6large mindgk Pr10ed et onty:..i78a80. Conteot.fane pLna. - sDao~beLU+oom,.S~Lat~arld]T~fB BJLTH otavyfwWehed..ila8,0(ID.ASk for Eric eactlriisa Edl3T VAiI. CONDO~....,1... ~..d ~~.~.--._.lBPeotecTdarvieme9sM glue loft condobampiereijri11rn1Ehed(ingludErg lssisn) bile Dugan! mom de[alla e~pOOl on thegmnDda OlieredeL..il?D,OpO, Call Rd ~ti~rauta.~BY~Ilent~l~~nRg O~>l~2LLY~80~~ Ise DatyAmnishedgmund lave], ertl urrtt wlEh garuenpaWC and Lleesrsrming areDlaoe. ER7ae at.A80ppp. Call Sue Dugan roc -lOt'e A91aUa. 8l9V.t..,s'_D14T3~1 PJlItK TWO SPSD800M fntarlar deWmtod with mAicT extree. Nest flu•[s4tura, If;Y9Da, crystal, atemD, Tpeg]yr/tll'yer, et0._i166A00. Ask for Srlc Baahmap, . Hplll[~i8 ~ ~ , ' `...~ ~A~7.»-VAYL'9 DS08T SOUSE FO$ .BYRE ]1~,~.r„i,t ThW fl.beartlouL, a {Seth. onahalfduplex on a QlDetalrale 1n Sagle-VaU. let al4nghae 1,862 teat M way open lhrtng ems, ...-----... iimpla0o, Lda of g7me, azb lore a+ewrsga o~aer~ea ac.~tleeAOR. Contact Van Swing far dBtatle. ~Ai(iLE-~FAILFS ~..~+L.ly+ TRICL111001000 B~OMABy~ TNe flill,V IaT+dsaeDed 8agibvall aTio-haV Mvplef(baBa'De6[mmel,8ihbeMle. (vriLa.faau9A1), Dffm'ad ai,.RlaeeClR. peDtaetVm Swing far detaae 1HA1"rER80RXfl' ....:. ~ F6T.T 3 hedcoom, large lea, >3 bow. deluxe appllancea OBrerrd0 cae 8om~s, male energy saving ocD9tniouon Total owner LRanaaig for Rslallaed hlaar_.i1B4,eDO. Ask rnr TULeah Eendere. ~TROHffiILN tiTYLE H.A7A1" D IA EaglrVall, beeuttful Vlewanto t4whaie. Tlvee bedr^aoirvs aiLd loo Dlue two and oris71a1rLawe miB. IrmlUdsd w tlDe 1ROf1 BQi try Sod regdgrlpa .'r--..:-..ante kmhide tiled x7rnhaD aRd t..~... ,..-.ATroodenegllrvgd tnLOr>dllm+t, elilgle oar gatege aDdloreaf atora~_;lda,R(lp. Pbrmore miorrosuan aali uaDe pros ~ NA:,r.r i.aadAlY'S DELIt}8T I F ~~s . I ~ ..I . ~.:. ~1PANCITgQ RllstlaWdlcg cabtaon A.a agree along DalbyCreekattLe Calomdalavar.46 mtmP~ea rwrwwestM ' Walcott. Price reduced te...ip29A00. Ask for eve Dugan RFiiTDT.7R4 ~ ~a1F vary Beautl[W west eM of trlplek w West Van. Tate 3 uA~oom. a beta towahavee Domes pacUtlltT turrtleaed wStlL maser ilrsanOUlg llwl beeanlant sod Min oar garage Doke wls9y3Gp e4uate fod home.OtnlAeus b4ry ef.-ilea,DRa Pot delete eak for dsae Gros >BltlA as ...e s~~ I~ ~t#7AE-SAIL .: u .kP7~C 8 becUtioni R Law, (]noISIGWgleavaS),5olt, earega (wlch electric door opener), rnlarowara, flash aompeccor,denDmoarpetSng lnterWr11111T0rwOrk,patl0.deak,apollmpis0eserarotQY.,AleBpOD. ~4akeror aadao eaonman. 1~~Yrb 11 ~fYiF: ~IIJH.y.OtS~B Thle $ bedlnwii, i rl, barlt roa+Urosae 7isa 11Cg0 eQmm tl&.o[ aYing a[e9 w1Nr ego square feet of 11[Ianlehed., 'Whlahle Dlsanbed mtenet,{.yTibyav+aonyApotBaLSIlUUrbedroom tlnaldenpg for...l6'F,OOp. Cell sue ThlgaR for more deWla CE...'Il.d~. ].r 7~.'y,~t~lY OVAFtI rhle 2 b~aQ wm, L eatli Wwnhwae,umludmge8+eeelenafrlgeLmylaoeaitd gara®e. Canby eedfocU+e elpao~FN~a9Y/lb ea~Dr~liopeyyo,Gi.,~tye~6y00~0~A~eau~ma~Lalre.~l~~n tau sue Algae [ar~TluTt~heTrl~dgaua. R Ra.~FYyiM~PA V,A,~pLR~liy tl ..1~ . II .,I ,:ri.:.iYlaak'NUeV ' B bedrooms; l DeclL Tama for ori~v i9 ,000. Ask fm~ xtraoh Sanders, s~fDCIFI~' lita>a~ a bedtwOrY>, L Lech. gees LIlV 1n The valley.,.t168,ODD. lApr mote detatla call any sax ram sue DugaD. F ~,r~. '( :1;~. ; ~~ ' ~: q. BTAlE SRiDt~E LODpET SAH-RTA17RAmT ~' O0lantdo'a foremoel, realrsg msaLt Dance hatl,har, rwtawSYnG general wore, I~r Etare en aeblDa mektreg up aPOSemlaBVernal antra All atlas plus eoraa,.iR78A00.Aakfor Brb Baolrn-_ i ~ 8'V~LDI~Ei ~ES & ACA1l,lf,G}B8 Fora ~OmyySec~a harp aur4 al[aeaM acmegee,eee aursepamteadelas+rt~^~!tnthiepaDexor Fall aie {else aR71 H. rrmuye AQ--veil, ColorMO B1e87 ~~ ~e0t~ open seven ngya ATFaex - - - (3dS)47t8-'~7#1 Please Trtrn f¢ Page 48 a + ' 4LF The Vai1~ February R, !9140 1' , DAVID SHAPIN ,- 15 OVERWEIGHT Arlo UNDERCAPITALIZED! - - Flrst... He's on a diet! _ Second... pave, president of: ~. TbTAI. RE( STAURANT MRNAGEME:NTr INC. is seeking sb&it)pp to S10r000.lnooperat€ng capital to expand; sa stock Investment or IoeR' • Please Cell: ~TOTAk REiSTA.URANT MANAGEMENT, iNG. ' Post Office'Box 212, Avon, Colorado 81620 ~~~~ ' - ~ . , • 'A r. ~ - Frwn Page 4! Pt>aimap .r'd Arid br the TOwn. wrro Pln, in 1911 Pavmp Aganr. FVes rvahpna Bmnd lewdptl En In En le d Od tl 1111Cpupo rw pCpuparra Ihoaeodrparmna 4pl.rntlependenl andnolunpertMdOmMlgn 0l tnalown «tna }own councg.Ibl sees rid n g , . g woo . «e o, wniDnn the span! of the Tpwn f«8g payment 0llM Warrants - a . enleancrnq Braat en ena Pernlmng to rne ave nY•ubsrenliel rnrerear.tlveTaor rrenecL rn anY 911n0 sibva 01 the Town an0 IG] ra rid 1321 Plnon. o1V Intlmtlual, Iirm,PennOrSMp Wernrdeentl anY Omar aepuriikf payebiekpm . Cpnnacietl wish lne TRwnua member, pkicy , 1;«p9rallOn. company. asaodntibn.lbinl-SIOCk lne Plepgea Ravmuee. ar n parr al auto as 'r'aa as ma be a : t a or empaveeoltne Town (',pYnLd,aut whO meY ocrallon. Or by Pr pprilir, antl the re r m y .a~n e , li2j Debt sarcme Requiremanta: Ina ee regdany relamepmmaxem.a.el pr a,mirer epa~la a eny mqs w .ecwea p1 ib Town R nwdes am hpalee, rece~yaa asargrga, aria. aimaar represemalire Iaare0l q,r,Crpel pl, r le'Nlv~. aria eny gemmma tlue ;2p1 land Maintalvnu antl Rannrnq Fang . 133) Plmgetl lane TrO~sler Tax Revenuaa~ epnnecNOn In the dempron of IM Warrants, hp Stlpermr General Opllgalron r Ine seeps! Tura ereatea by Searm yF nweol. 1211 Lantl Tranakr TBx-lna kris lransler rex Ine press raceipla conectea M she Town Iron the Land Tranalm Tas- BpraS. the Mbdmpna Penry Warrants antl eny eetablinnee Iw Ordinance No. 06 upon tna f3al Ple.tlgae Rennves~ag «aparnm al the Ihn. sacunllas pays IXa ham Ine Pkapep Rervnuea antl heral0lpra O' her6aper rwued 11 Trans}er 01 mtereata rn Real Praperry ,n the TCwo, in n percaniage as fei prlh 'm a b P{epgao 40ad Treniler Tax Pgyenpp9.antl, ona base a b9rtllnare anp Ivnior I4 rAe Superrp l any. 9r Lfph ~aN M auto eecwilies ea maY De des net a o Ordirtence l 26 ar any wppkment « Genera Obhgdiion Bpntla, rho PlBpgea Sales g e , s aut pnnclaeL mlaeat aria wemmmf 0¢COmedve. anpmem merapl. ae22]Lanp TranslerTe. FUra;iheapeuar lurid Tas Rerenaea. rned•srpndea lermrnm9meaa o«te 9l revmuea antl tlon nw n•Ceasarily 113] Frenl of Daleuk~..acn 01 In0 Brame elated in Seuipn 1B nere0l r slap ay SFblim 9 d Orainanpe No- 26'ma ndiUle all w eny pomm~ w other part pl aurm ' . e mlar I towhich the 1 wnrCh the proceetls of the Lantl Trensler Tax are to be pa a Ise n the aasenceol lvrlher4uali}icalmn, Po r 13 l ~ l Len tl T~ansler Tax tl ea app yea gprmea pp rmp 1291 Mayw', Ine a lure or ae kcw Meyw oI ¢aged Sales Tar RevBnuea' me nl - arl9l rne gross reee'Pn coneclea by tyre m Sec}ion Spl Ord~enbB hb. 26. It61 Fed•ry Secunhea dli lilk 1 Ine Town pr hie «Iwr auppeas«rn lvnc[rms-k Town Irom rrs a55 also tar: .urhorixap by . a. cer ares 9 rndebtetlneas. nOme,hpntla prumilalbedunlrea any, 1143 Nel Pr jecl flevewaa.-av Gross Proleq Orp~nance Ne. Il Oerorep f0 anp •ppSU'upy 4armarhetl b Orainawq Nelll«Ihepur worth are puBCl pdrg al'Maol. or meprincipal m Revenues re arcing alter the detluulm el i of tea es IB x4vrsrlron antl I«~ y Bap mterwl o! oleo bligauery are u ran tl o OpenuOn dntl Ma~nlanance Ex Farces aequmhp0, eenslm[ikn and eWippinp q a le9 y. ma unnaa sielasa a;,e e: Izbf oPenaudn one LaamrerwrBe ExPanaea. in be tndl IM Town has anY Gmna awlarnp,ona mnrdiea 911n. town. 1361 Pr'mapai ens Immesl Funa uy special 1161 Feu! Year: ine Twelve (t21 Oni•S om mg mthe lint tlay ol,lpnuary o}any Prpleq RevOnvea, epcn r bra anp »ep t tmtl weareo oy SBmmn 5C he'wl. 13]1 Arior f en0 l Obli ti B c her yebr e'r0enai~g an me mury-brit day i q wseuyecurren expanse pl me Tewn,pap pr acu a, r apermrnp, n,arnra~n'nq a , re ga on onds: IM +°31p^'^R Sariea of GenerarOUlgatlm BprMa p •cembar m aucn caendar year m auto th t l 1 h salving me vrereu as may b. delerm,nee ey oI r^• Tew'n, series 1era. a,xop November 16. ' at we ve ; 01 mgnl perwd as may lrom dmalahma MtleaipnereeaV ine Tpwh unCil thelpwn CVUncil. antl rM term may incWtlam tnB TOwnCAUnce'e opiion,excepl as limireeW 1914. ma ginek ~nncrpel emeunl M 52.640.000 hick is r0lpntled Barka 1 as FuN yBar pirhpTwn 11 P pna9l pr alnerwrae limitetl bY'law wrprpp Ncvember1, 9T3, $eriu•saPrembn 1, Ig]6.F ]Gmag rO~aCl Revenues:{a]sll lncorrp, Il 1 en.. Irom rmw. as loth. ranmla ena charges Ifmltin Ina petters Lry of ine r«Bpainp (a~ Legal an0 pVern00p eapenaes of the the original ginC,Dai em nt d 3300,p13T, Series 6]& ddletl November /, 19T6, rn the ny cambinetl9n lnereol brlha •«NUe« anll k h verbua aBpaRmems I the Town drecllY O,rVmat pnnclpal amount e1 r63a5.WD wnrG1 epe mk atl W, wbh orrmm rne uba 9l IM Pr q~l; antl lbl elV lncomepr OlnOrppaln. rl ny anY Inuaalmenl of Gloa3 Prpiecl reIBIBtl ena tea dy Potabre rp 1M atlminialret'mn at the Prged; r luntletl 5«;es MB.Ch F. 1911,aM 5eriae 9ecember t, l9]S. Sense May 1, tgil, rO lM r , Revenues Iby Flaellll bontl one laaurdrrce ~remivms aPParlainrnb me Prged or a r smady w gm•I gmupal amount 01 sane.p3g: erttl 5«res Pac~m~er t Foil, In tM1e onpiear nw aalaar: yman use~tn cpniarlcdpn wim eny coupons, arty Wename, Or eny other II«ahre snare pl a Premipm p: am 9ienxal pons«poiicy perlaininemt~o Pracch gmrmal amount or sz,3sD.oln - f36] Pn« OrdinanC09 the Idlnwim Vail Run Realty , Incorporated 2077 N. frontage Rd. Vpll, CO 89557 (303)475.4353 -I1 f. ~:t ~~I._ I., :~:• ' WEST VA1L DUP4£X 3 bedrooms, 3 baths, garage. 2 decks, west aril!. features fireplace, wood- , burnfng stove, hot tub. microwave oven, and many other extras, 2,168 sq. ff. S9 75ADD WEST vNL HOME ESPECIALLY FOR LOCALS This lovely home oentrally !stated. inlheconven113ntVl/estVa(larepis COLUMBfNE ROgDS --very spacious and cheerfully 11'ais cozy 2 bedroom unit In East ' 'Sunny all dpy ton If has 3 Vail has a great treplace and bedrooms, 2 baths ~n the- main kitchen. Excellent rental dr local's house and a 2 bedraorrr, 1 bath housing, ten#al aparfmenf wlih a separate 587,000 entrance. Lots of trees, nice lot. .. Amenlfles include 2 cot garage, fenced In Yard, 2 mossrock NAIL FAST CONDOMINIUM ffreplpces and a washer pod Nice, clean, vrell-cored for unit dryer. - with !ergs bedroom, plenty of S22SA00 parking and beautiful views. 573,000 . vaL 29 . Nicely famished, 1 bedroom, 2 SUNRiDCE bath, right in LionsHead. Excellent Two bedroom, two bath condo on rental po#entlal. the banks of the Eagle River right 5959,000 at the entrance to Beaver Creek! • Brantl new, ready'fdr occupancy VESTLANDET in April. Terms available. Well cared for 2 bedroom, 2 both, fogy furnlshetl condom#hlum ih BIlOOKTkEE CONDOMINWM West Vall hds a loft and fihlshed Wprmly decorpfed 2 bedroom, 1 txtsement which Con be used os 11h bath condominium centrally raxtra bedrooms Mus# see to located In the Sandstone area. bellevel Over 1.2(X1 square feet. S9a3,000 3193,500 ANTLERS EAGLE-NAIL tOT Cozy unit, Includes underground This Is the only lot which borders • muchg~moreiar] Wlthln~walkind both the Eagle River and the distpnce of the GOr1dOIQ Eagle-Vail Golf Course. Magni- Excellent rental history, great ficEnt views. terms available. S~'~ $941,000 LODGE AT LIONSHEAD Luxurious condominium, bopufi- Janis Wlleplar i]ebbl9 Mangone fully furnished, located right on Jane Butler MOnA Look Gass Creek, Heated underground .. I ..Nall Itun R ing and saurTt'A lnduded In ~Ityl his excelienity priced unit. UiL lK 117COIpQIdtCd S220,000 {at rne ppEls rnwmBO in g,e cdlepg0p of all pr ehr Parl o! the Grpaa Pr01ed Revenues; the vrd nyhy the Tp~ilnlyq olhew ~rnunotlb "GPBrBtipn na melnnnanca Expenses" apes rid mupaae: (il AnYA dlOwa«,B Irir rMgeciarim'~ imp Ovemm~s, exlen6aipml, or ne[le~me ja~On. (ii] Any accumulation vl resercos Iw caplet repl0c0meni3. [rv] Any reserv s for ppBralipn. malnlenence, pr repair 01 the PrgrxY'. Ivl Any 6lbwanca lortnereaerrplimof Ine Warrema or Ine payment p! AnV interest [harem; roil Anv nabnaiea tree Fnp acgnlen'an w rmprovomeni ur any proparr~eb ompaaing Ine proien w ear a«nanelron Ihereol; tlaaedrpln conlndr ground 0l legal liability rid d119rb plnin070wn~wlrprcl0prwr~~larrtw is ce.na aehyarr of Ine wemanrs Ian orelnance rvo. to orernance No n. Series d 19]3, pf Ina Town eu[hpnretl bf Ine alemore Of the Town on 3eplember 03. 19T3, lino any au plemmb or amentlmertra trgre0l, Sefwe of 9T9~pNth B6TOwrninadoptatl nC en led pn adyt t8T8. by 0w Tavm COUni 1, antillBtl 'An Gr~nanca Impcsirg a Lind Tlanaaar Tax Upan rha TrenslBr 01 IMeresta rn ar,>enps pl 1815', Ortllnanra NO 24,Serie ! 1916, Ordineu• Np, 26. Series o} 1016; Ordlnanc0 NO II. Series of 1gl]; era Ormnanc0 No. 31. Series of tq>1 b Ilne) Towin fame acpvrml,pn of rut gopemy ona Omer s;mearppur~posea.`io~rwm<e°p~rp ne warrants are issues nerepnder. wnemm •uph acpwgrll9n is uraBrlaae a[ pr's limepr In a Idol Purchaser Nanrlea, Imhol} a Seml«e, o} Oenrpr, C01«atlp, snails az.spciates, It eny. ia,] Reel Progeny: rear property ea tlelinetl by antl vMer Inn laws Or the &aln. (421 RepBmpr'On Date' Ine Yale lixetl 1«tnB raDemvlipnIXprior ra their mar nl' vl ny w«nms om« apa;gnalen uriiiaa ~ayame trpm tM Peagee Revenues in an OnpB Of otter ntlemptlm authpriz'3p by Iha Taw or otherwise !lass ona aesignalatl bythe H31 RepOmpaon Price: when ugBa wllh resPwl m a warrens or er aesrgnaed e9aatr payable lrom aria Pletlg a Rerewee, tna prinupal amount [nereol plus the mtlarnc ptionplnarepl' II eny, pryadle vPdn the Gale of such Warrant Pr ot~e~ lasecuadnry ion e Reaem elan Date ,n the manner odmemprarea pihB. Sepvny with ttre terms of the warrant« byl Sec NOn 5D nn~¢pf ma 6penel !antl creams {457 $a es Tea' Ih0 Salsa 1aa Bat•pibhea by vrcnmenrfteal PropeM rp~ peramal~openY al releilandlne lvrnisning of ~s ~Pnadran daucn Faan I~n rlre Tawn.lnapcn percentageas err lo'a+n ' oromence Np- any aa f rnnMan ~ A rt rte sv 9fil sBecutn or aBCUmI~ ape mEnte/ lpen i Conrram n Eagk l ~yw - wetl with e.e ro ",asdme Taw~,eny wurenr , riot the Ta. tmpa¢ d, Tnnaacti a Fr sane ib•uea by Ine Town, r a y Orn« erraenu of the atlvarcerr n m Om.IM Tar iahing Proc aV•ea ter g [ 01 money SO IM nilicalB pt ~Exem p[lon: 14]1 Stare: rM blare al Cpbmpp. p Ir09 fOr Ndelmns I ihrs n olaLrert on the PropORy 1481 Subprpinale Warmnls or Svbortlin•IB 3ecurirras~nondswaecuriries aV blelrem lnv' Amount d ma Te. U^Wra. ~ l AlBegap Revenues hating ion thereon OBIail3 rn RNaMn to the I any supplements Or 9ubordinale «juniprt9lryBilenlhereonmtha Warrama u. pr wnal•ndrnff wn.n,nea la$1 $pperlor BoMa or supB+'ipr $ecw6ies: meP.IOr caneral Obsganm eonaa.Aaduonal re War.enla. the Atlanipnal or GBrlOral " 3a Perily General Oaligazron BOrttlaentl an abet S r r a m p r or a ome n~ per g l We SaIBS Ta Rev nvai e lrabrne lren Plre B ieP~^ Sv enar « t h a a501 any r l c nib, Ne Atltlrligral Pariy p wri er Ip t e lien thereon 91 Ine Warranls,~ oin ` GB n `e ua~ ~ c e~ i b y t ral aolne n a u na u aa a n es daya n nIhl Plaaged Rerenuesp w w en a o i a i aa d Aa i o l ParilBGeneral OOLgatrm Bonds. wnicn bonds ITO Ine PrgeU.azthe caaB lherrap}pre arrtl nave lien an maP ¢ag¢a Sales Tax 9evenues parlor pr 9anrw m be lien lh«epn pt the w ~~p aria aelrrmed, j%eL ar.anta. _ t51l~TOwR lha town v ' . Adammal aarirywerranL d ao, cdweao ie 2 }m meiaw 'r«e n i a ~ gbligaiipn Sono pr Atha s y M• town, by Sire Paring rl i c n 's e~fre, s ~or~n IanplrOra, rl any. p n the Tavnh banal!, al or ', ppplti0nal Parity Wananl Tav~nlwcehy auo s~sorh'niuncl ona ~nei~pl~ 1541 Transler(al: wnerer Or opt the same n in wtNin lire Slate 91 Cvloratlp. whkch OBnt is prises to exereiee anp is e.Bmeing boat oowara. 1561 warrants er Wermr,t: those securilke ~ued hareC019n tlo~aLantlmeTnnsler~ Tax Amirrpallan Warrants, 5arws f9i30A;' p0.1ptl February 1. 1980, in Ine aggregate pngpipel mount o! 31.850.000. . e & r:pnalrue6m. Tnia Ordlnence, pYq ro the 9pnlexl by clear lmplipari9n h«em wlnerwlae repuires, •MII la c9mprred b ldlpw3: 111 wprp`a In top aingdernar:rder irwwaana plural. and words in Ine Aural include Ine alr~mar. Please Turn fo Page 44 for sa.~e: Eagle-Vail SuUdivision Four)~lex Lots Piling ~'1 I,ot #4 131ock ~ $118,500 , Lot ~'8 Block 4 8115,00 Please contact Thomas .J. Sheehan 9G03't E. 8th Atentlc Denver, Colorado 80220 Olticc: (363)388-4162 b Y•; I° . ~L ,,~~ ,,// w t ~'he Vail YY4if..-.. Februory 8, 188U From pa$C 4,Z fhiglam,nlMlanGFIM nPNN• 9n~nen Ills NRN ap irlglntee wtlr0a d Ina nrlM pmew nNr to env Prdr, 191 Arllclal. Helkaga. 1Upiacllana ~mpeara~Nltr or gnrwlM, cerfppa tl1aIM reapptiv! allklaa [bona. beaellpm. Olanrsrl"nw wnnemd id aor rAMrwrNlw gwrpn ntl. lei yM Ollw and haaehlwl .pPlDltl N anew. aauNne a a we..ceona I Inia aanana ra Inriaa only as a mall[ of Cw'IVeniMOe !ntl ane m felranEO antl In fie ww :wn ~oi tlliu o airynp:e er noanl et .ny KC'TIdNL AedIaIF A9Nrlry. - !N THE CENTER OP , ` VAIL 81NCE 1897 ^ ~', BYRON D. BRAWN REAL ESTATE ale-xa~i ' P.Q. Box 547-Nall, oloredo atti5l Corner of erldga 3ytrept and Bore Creek Orive , . •A'`YS.e F' c~,~''L Sfi h~IIR /A w~.~ - .~r.~i~r~ rt; 4~s1 •~axt~rl~~•. ~•+e 'a eo II ba iasueq Harrenteb ng Ng sate rwmMred' Iwpa rtlrrrem t ntl NI d tntarast r rtun en riha1 °10, tleY al Ueeumbn~irt IM pra,fipal amaunl{and veto. entlaMil bar pl ' / ',. mnum enterer !I IM rare[ ea anown in IM btipwinp acneauN: _ t' • ~*~~ Por Annum ,' ^ ¢ - ~ ~ ••^~~~ i ~ ~ WauaaU ter Jualvel' 1 ro A Principal Amounb Yera 91ga,pap t9a1 Lollpon inter9ar R0t6 8681: ~'a~; f '~~ Y1 t0 a5 ~ 14888 1882 5 0. 19a< 8`A aw ~ - ' l' tp 1n8 19110136 9ap 5 175.880 1985 8.50 recreation' room 2 Car $ bedroom 2 112 bath 179 to 179 9pg090 '9A9 875 , , , garage, sauna and whirlpool hookupps, In Dot creek 5225 0D0 lTd to lap n„o28S 4B9 tp 919 225.090 987 224080 lase 258000 1989 8~T5 975 9,75 ^ , . .. ..................... . st8 ep 370 ~975.OW 1999 9 Ys Th ere 8N ~7 ~ - - agar phrae i~ - .. , de ~:. pr~ ~ 9 ~ F " Q1 all' Valk Tni Real .~stat~ Services -' - w ear a Mi aw - '~'- ^- . _. - i ,i h mil lq1 cp Npl IM nn Intl ' 1~~ 1, -. '- Offices in the rasa east vau vauey Drive Ma ~8185T ,:~; Faliridge 9uilding { ;~, 303) 476-4g J .. NI sec Re®Idantlal Commt3rclai w; ' Parm A Ranch Undeveloped land , ~: -+ ~ Member °Vell aoald-ol Ra9uori' 9Ra "Yell Mulllple Listlnp Service",. on< eui - •. '' Fealurt3d Listings: ~^° Inn 91e Why ptml7 Own Your Own fpr a Vacation Week = Interval , '"~l ' OrVnenshlp9; al ' Btreamaide Unit fi30B, Week 7 .. . . . ......... $13,000.00 a p 3treamalda Unlt 8204, Week 21 ........ . ...: $ 2,500.00 ~w 9est Finaneing In Town! - Fallrldge lJnif kt04 -One had- room, two bath, t31i0 sq. ft. condominlum can be rented as Ins studio and lockro}f unit. Fully furnished end equipped. ~; I ...., ,. ........................... S1B8,000.DO 9n FaRAdge Unit If803 - TWa bedroam, two bath luxury con- , dorAlnlum. Prlvala Balcony accessible from living room and car ' bedr00me. In axc9tlant conditign. , ..... , ... $183,000.00 w: .. ! FaIlNdge ameniNea Include underground parking, privat9 - shuEtle boa service, pool,, Jacuzzi and sAune. A $padst Home tar a t3peclaF Family -This three t'~edroom, three and a hall bath luxury townhouse is located On the l Fourteenth Fairway et Eagle-Vgll. Exceptional features In- dude two fireplaces, vaulted ceiNngs, oak cabinets thPouphnut, redwood decks and aiding: .... $275,000.00 pool Estate Saks Assocktes - If you ere a good, proven producer and are looking to make a change, come in end talk to us. We are new, agresaive and looking for top sales attsaciates. tau riutly cievaiand at a7s-aa5a. • y.~ ma Vna Orarwnwa ana rrred avlnannnp loan, wile onto omlamona. 1 serfiona, n aacn revenues, ;~p BOeperm ulda enemainlain i Pfir Gen I Obl nNi n BerWa,aa qtl nos 0 laanale el Iacl 0lr pipyrle. and variriana 0a ta prpr,a~wtaw may beropuiretl by m' am,apnr Ina Town mar ch PurPOaaa In °plwn aupmad ~ t ls nenlee eM preue. In ucn pl the Pop e the amumpdnsea ane as may ba regVilee al wcn rvnde wnlRAn el er mp Y Pya of lee TOm n Ord Aiabea, Iv IfNep! Mtl sN lobo lH d IM PIWppWed 9alaa Tea Ilennuea b pay IM ~«IItN by tl,u nremRnCa. arW w mar M nary p apprppruta to zwnlwm to tM IglallY availubl9 for Bapana,IVrO ICr Iha pvrpaa9i ln0r0al as lMwitlaO in lha grtlirrfnu. pp4,elpal G anq Inlensl on Ina Prior GenMN Nlpa lwtl faquiremenU of any govOrn,Mnlat 11 IF Rreby regleq e,xlihe0 antl warrentatl OOe9etlen BOMa. TM Prior prp,nancea erov,tlae tint IIK Pleegee 8alea Ten Revenues aud,orllyMbany uugeer repvnemenlol Nw wile rrpacl tner0lp: Inal for lha DaymenlrlNa Warrant lnpallM im0real Mravn. me Town nu ueaNtl antl wiH p l t i i y p l n ~ IFerm Ol WBrranb Pl P ~ ue l ~ Q antl ntereH anan . e ne nc,pe e m e er enl aarnanal antral al,pn [ante 01 IM UnaITEU STATES OF AMERICA eggeq wen a rhereln i pl en n ama.n4 OU anus ant a a OGfi q i IM O ei e gg 9p Town wh,ch mly be I twe Inerealler on a STATE OF C-0LORA00 W UNTY OF EAGLE a p n r nwc Nlerretl Iv abwa eutnorizirg tM usuanw d prey wile pr wbartl,nale ip tie Pnpr Canerel COegaVOn eorlda won meppct lv Sne PNMgetl TUWN OF VAIL 1Na Wrrant antloal ptaypagwaltunge.naln arable enarAe ihmwn, will py tnia $alea7an PBVrnnLV,a TnePnorOrtlinaneeaalso LANG TMNSFER TAx ANTIC Warrant ~ntllM lnlerastbereon, intM manor pwlaelhal. Ip the eaten that lnOPrirtlpald q nleresl pl me Rria General ObI,pINm IPATION WgRRANT ~ SERIE919a1A prw,aee av lee orairlann. Tne Werranl0dmaaarWadwnicnlhH iadY @pnpa are Nlly proyieee Nr m any F,ae01 Year nb. f5,908 are Bet'p•bry antl relamy securetl by • Ben M rul bl l ~ ¢ oull a The TOAnd Vli{ in the Cgpnlyol Ee le and h W u Le a 0 e e e MrBNr,IM7a xn iflulnw egl s auto enaeaa Pfatlgetl Saln Tee Revenues Ia . , 9 Blele of Colaetlc line Towel. for lue ee aVC r renla Sliiwa an urere ta9N anp bnI non Ibu[ r,ot necessarily an azuvare fire okar purpoaea, InNwmO. bw nal umnetl lo, raceivea. Mr04r prnmlaeampay to iM b rr r roof upon the Pieagea Land Lenaler sea peYmepi tll EpeC101 n -general ebli9allon n nereol.adely Iran the ePOCial rae plentletl Iherefa a n r Revenaee Sucn Warrenls ere sloe WVilady borMaallMTOen wnk may eel ea~5svee en a pantyy wim the pool General Obf ipanpn , s e emefleraet laen,onlM lHtlaY al December, 19 Ina principal sum Of tl,alably aecuree bra lion en lee Platlgse gplap Tai Ravenbes but ouch Wnrranls SeNabvl mlv may ba iamuain aa„hnreirwtw fIVE TNOUSANa bGLLAR9 , ~y eomwul,f en ,rr,wrcnNw anrt wrnnn • ;lie nialannln~`uGanera eomigationtl eanea wirrama . e mMr typae of >ew nree, N ' admtion m ma warren<a a IM aerie rw wnran' toe ,a ane, aubtecl m e~remetl eonenioro. a I uee anq PleOged Revenues hawnApe elkn wlllr lepn Wa ~enlta 6t the serlieai prw id, thEa ie an0 w. netacl N eaanknal e.wasnep w,wi:Wr.. nMing a lien IMrepn wn a prey wlh IM hen d ch Warrant[ in escafeawa 'tn Ihp yy e1 the Orelnance weenarei Oblirytipn SOneaol tl,e Town, ineptl'upntelM Omer& Obligation 6o Ma pata,•nging an Ins tlate MreM, subject to Bngesaee wneitiprw, Pleegetl ISalw Tao Revers Up•eyada gem Rla mrean wROre n•mane Iona Io In.iienoiile GeaerN OWlpaikn Bone[ oatsNna ng an tea [ate meal aIW al me wrrenla of rtwaei ad vpaen Imo n al>a w. awiect m gmuonm exp raaaedgpndlbna. having a Len 1Mre0n on e 6an1y th me Aen o1 auto wuulanpinp l3anerel Cbl,pallon Ronda en0 6uperrw tv the I'ren al auto Werranle in nrrn.nwnrs .,an rti P TMUTOwnt hdtlar eltNa ar are Ir Tas Bnvaa. ~ 1h ant 6 9p1 r NnanN er aro Imo wananL Calaaav: me yawn cnaner, aneali piney lawn PaymOm Olttq Gdd5ealcaAegdrementsd of the Stale vi Co[araeo Inreunlo eneNlnq, mia werr.m anrlwmeaeed.iy rmm.and ae em pursuant to na ore~nence ana omaa ~ne ta.cwis°aalyment rnareare lrreawewy areinacaa r r,'e raw,,, Y adpptea G,tllnance, two YI Natl9etl PunueM Ip iM WY~aaatl any mepe Nwa f he T now [p ppec,r Nltla rnerebyy a lap Ca 01 In a We t, ntl IdOr tiled tl IM Tewn of Vatl, Calore60. Pelerenw is hereby m h o -Mnw. Lentl uqm. Tak Anik,pal,On WarcanN .ntl 1a pdnclpq ane Intareat Fpntl' arM Ina' Town pf •rr,anem¢nlaYllx,nepl fat 1 P -Onavl 1M t Werran s~RpeneanFUrd'~IWOwn~ah lunch the na Warrants[[ the axtweanof wnicn P~ie'cmoia T own nn covenent9a-n ae Grtl,nance to pay, are laluetl anq aecu a irtclumn9 witraw euflldelnlB1[o~pay wn ntlueetltn•geht Serww Ipr'thel WarrenterureelW eetentalneaecurily Requiramanta al the Warrenl3dlhe series[ cu anaa lic°rat~rOn of lhetn respect loth waa~rl tRia .a ono ana a y ndannnal a`0~ pp prorewdadtne ties nereefler sauea ane navabe t.otm warrade, meeca~~ n neopad 'Fite al„°vtl i' Tri lax end unit in West Vail. Two bedrooms, two baths, brick fireplace expansion possibilities. Special price until February 15th $107,000 14l E. Meadpw Dr., Suite E210 Croearoad9 Center Vail, Colorado 81657 Telepleane: (303)4765805 _ __...__..__.___.. ._.,_____.-.---__~J • " ~ The Vail Traif - Fefirlxary 8, J 9RU 46 wenem wrcnre Ap,wmril b NM nema •ntl en bMall of IM rewn C, VnMminMy Ollblk irkemMk OrpelN i41epM1. Tne Tpyn Cpl,frNl i,e, l•{•ir.C rp / ~ - epprprp ens IneMw now qn IIb in Inaalhp d me TLwR Cbn IM PrN,minelY algcrel ~ ~/ /~~ o~er 6Senm,nl d Ih•tpwn, app Jenuefy 0. 1YEq. C t/~. NNMp So the MSwnC• nq le d the Wvrenle The nomanle 111 Ind Akimiwry ll ~~~~ reu altllhe PrelinanYy a1}iC b SIe1PBmmin by IM PwgneHr for Ihlndbnn d Ine Wplenll lp Ine pubib n,pproree ena t~luaYVr. cn nen,n g1lM rpxn, iulnwlxeetesipn dry or mole ~ - cpplw vl me Rellm,nuy p!h[ik Sletem•M eM the FMk pllr[lel 5lmemenl. town oe yAIL, cos.onP,oo '' By iF•ulmNe 3lPrvlYrel - NPAgsIFMIEI meYgr NSEALI AIIwN' ' rMln W I Bipwluret ' Town Clerx IEntl qr Eo.m qr Weneml - TENT or Interest cgvpanl- Coupon Ne. ; _ do tlq,/rtelGVgrOVwmber. pulNJ1, s9 Ux Tov/ d Yail. }n lM CW NY er E p10 Mtl SLIe N 6gbratlq, witl upon IWrM6M al ehie raupon PeY Iq tleuer tM .meant engwn Mfean in Iewlul m,rtey al the Unilee Sl,lee q 'Nnerlc• without eeMginn br enehenge M Ce11e YWn Lhypge, el - .ppcppgmnaa.nl.lr tram enC er~l~Ilomethe~leap•rl Rene un ~kCOrnhM nqm Ine •eurcw wl ronn b In•w•nenl-b wnrcnylw cquPgnq.nmm, ~emV the bwreal ben que M ns Tawm M YeH, CdprWq, Lora Tferrel& T•e An1u:IPCllgn Wemnl. SNlea 191bA, b..+Pp ~wmr.d lue.. ' sc . `. '~ . r - .. 1vewlmu. B1p Mier ~i ~.', ~ Term er Yelr, GWaWo ' ~IEnp qS farm grCWPOnI ~' C. WerrMI1 Eeukly 5kuntl. TMCevenenla ' •ertl ap[wmente hrkn eel bnh IP Oa pplttmeCgn b•YUl[gf Ine Tpwn enell be IgrlhB epuel wn•I,1, prdeenon eqe NC~rey el Ine bobere vl ,ny enG en al Ina Werreme ene.lno coo Pen, pelernlnp IMrela, II ql men, ' .`°pn,ii °ee nolf oq,ui a+IXllrlr wllAau ~trm'iur{ry, prehrenge. ' plbrily et eiellnehen ql lny eltM WeneRn br coupon, M eny glnm IMregl, eacep! ee Olhe^wIE• evpefalY prgYldee in a gxnwnl lu VAIL VILLAGE~LIONSHEAD HOMES VAIL lNTERNA710NAt: o. 109 and ivo. 206. Wmisntad 2 U6droderl, 2 bath with stare e firephce. Poo! and sauna. Adjacent io ma 4obson Arena with beautiful view d Vall Mtn. and ifaruNeatl ski Ions , .....5145.000 each FA4NE•VAIC:'rasi s'rta nt IDI-u f1eW 3 b6droCm. '.4 2 bath dul:~ e: wi`h a ;:rya c rgarags. One of - ~, The blast,~s:;,,.;ns i~ rye Vail alea....S149.500 „ I' N t...E .. ..- ANTLERS: One beafppnl oondominlum In K LIw15r1ead. ClcsJa t0 shops and resfiaumnh. ~~ I Excellent view of skling at LlonsHeatl ....... :.".. „ .........:........................5138.500 -_.;' ill , EAGLE•VAIL: Nearly completed duplex vrrfh 3 CONpOMIN SUMS betlrooms, 2s~ baths ana 1.$$o pal,aFe rest. RIPBEVIEWSQUARE:2bedroom.2bathwlih Yewsotthe2ntlgTeen.ConvenienfiNlocated large loft an bus rouse in East Vafl. SWlmming at the entrance to EaglaVail. West side.... ppopdd covered palklnp. 1.300 squpre feet of . ..................................5207,000 iMng area ..:......................595.(700 East side ......:..................520.5.000 - ~ BOOTH CREEK DUPIEX:Lm-t un0s pvpllableon Boltl Mounialn Road Great views M Gore Range, water fills aril ski hails. Woodetl let hocking-up fo mountain with praatlve use of " windows and skylrgghis thrqughp{If. Three '.:- bedroom, ihra3 baRt So Tae completed In April. Cast hilt ....................5350,000 EAI~ CREEK MEADOWS: Escape from the hubbub of caTtlominiums and c1g66 neighbors, Lako Creek ottersasemi-sgciudea atmosphere quiet and peaceful, only a short lak'~.`~ _. _ _ .,., dfn,vs ban Vafl, near Beaver Creek. Cbihedral SANDSTONE 76: Sun ~Jaxpoxnoantl excellent OeiEinngg and stone Tireplace in thel'rvirg room, view Tarrard VpN Nrnbuntain and UorNSHead, 3 betlrooms, 2 baths, and the kitchen is a ham this 1 bedroom Plus Idt. 2' bath pleasure with bay window and stone corxfominWm -In ~•ttee _ r: A'°r-^^-F~ Single tamliv resiagnce, laundry, area Onihebawlr4uteana stashortvnikfo _~~~''O~ahof5 ancf~tlye• iltlrens'own PPVat6'-' ttonsilead via Hle~raedestnan overmss .:.:.: ~ ployhaJSe on over raa pcrQ°.`~~;E^."_~:;; iNTERLOCHEN: f7ushc 3.,0.;,....x,1. 2 bath plus lafi with vaulfetl ceilings. skyhghfs pod and sauna merrWership :............. 3id8,900 BENCHMARK: Tastefu€iy redecorated 2 betlroprn 1 UpftNgortlen-level aorxlominlum in Avon Gootl'vlew pf Beavgr Creek Ski Area ...................................572.000 ~I,~ d ~ ~. r ~i'fiy=1~ EAGLE VAIL 19TH FAJRWAY: Three ;.,o.:....,. „ two and onahall bath tawnhomeon the 14th Folrway~of ELJgIo-Vall. Over 1.500 square feet of IhJirNg space Slafe foyer. formal dining room, fiarge living room with wet bar. Master suite opens onto gdf course.......5200,t700 LION SQWUIE !DOGE: One bedroom one bath COrtdgnlnlUm. 500 Square feet kyCpletl on bottom floor of Lipn Square Lodge. Phone I, next to LlcnsHeptl Gorldola. Corner financing ova€lable......:...... .............585.000 view of the Gore Range ....... - . , .5425,000 iuinor¢n~E:r,e'a+r~iea`ioaeae~iain: Please 4hrrs to Page 4S FOR ShLS 8Y OWI~r~n 5paclous two bedroom condominium in the popular Sandstone 70. Views of Vail Mountain, mossrcck tirepiace; vaulted ceiling, balcony, washer/dryer.:On town , boss route, newly r9modeied...S119,500 Large one bedroom fn Sandstone .70. barge brick fireplace, feahuewailsrgrivate r as nr7b Y Prelcsed~at...$84,404domtniWrl !s Must Sell both! Fossibie Owner Hnancinq. _ Call StevA Clark at 47[x1306. NEXT TO TWE CLOCK TOWER IN VAIL VILLAGE 230 Bridge Stree! (303} 4762421 (303) 949 5077 Deriver Line-(303) 093-0542 Rotl Siifar Dick Bailey David Sage Bob Kerxioll Rob Ford Bette Renz George Lamb Larry Poterson Jerry Mullikin Pohl Towner Pat Carson Gerry Whits Paul Johnston >, L a, , T , iF . ~ ~: BIGHORN RESIDENCE: 4,700 square feet.af living Space on 3 levels. plus a 1,300 square foot deck and $78 square fast 3 car garaVe. This home Is built On a grand stole xnth Sooting ceilings, mossrock and heavy beams. Its views encompass the Gyre Rangg ana ifs one aae of landscaped grpuntls, The F1pme tM75 many SpeGldl 1BptUres WhICh pad prachcalify to its charm. Shown by appo~ntmerNt any. irils property would be 1dea1 fa a Iprge active famiN or as a cpryJprpNpn retreat ................S390,000 VAIL GOLF COURSE: One half dupex bcatea on vdl Course. 3 bedroom, 4 baths 2,&10 square tees. If features a sprinkler system tar the yard. a flreplae9 in baMN the tivingrppm and master _e.:,~.,..., a wet bar, and p terrific ~i 46 The Vafl TraA -February & J98O Froyn Pagi IQ • parminBd q a.Glon ee nereos Br b0m BOCH tl.poailea ate, B Bemenaoi ~ r ~depo,il ecwun er eridetrcetl W e mralicale m wpmit d r Cpmrnerdel SBnx mrnusnt Io Seclbnl SAeM EB hared, npFrapriNNY aecurop epuordinq Ip Ne laws of Iro SIB[B. Eqa 6a deemed Iswlyd owner of Ins unned srelea. wEr.mAeml..ra ~ gwm«ruu e°ra cunm~meianin any lvntl herein Epergroled d any mpnalary wrla at a fearer role man te» role a v Nmum rate, b tM eBw msY CB podded nHereld, bul n pYmenl Marl M q ewlP/Mad N euM ecmle[Hbn anal) quay Jr' -nlllmtl rnerefp, arrd OI y utinq deficiencies, end paYeNn fiam Hoch Wna h acCOUd, as IHB case may ee, B,Ceq as mrybe E~.~ ~4 //i4. REA(, F~TA7E L10N5IiEAD COMMERCfAL ' 9L2 agaaaTe fact leasehold apex in prime location now . operated e& heaury arson. ti RANGHIbEVELOPMENI' SIS scree k GgaHer: Counri berw.em Salida end P¢ncha Sprir~ o¢ i{I~}wny 5O;.tncErdea ggood th plan wmmrrtial h+~lyvyay :t...,b., dlred r¢ureroManatdr endCuntilean; ara0mr Water and Ixmthtaking view N efl dtreabaa. EACiL>;rV~kIL BUILDING 51'I'EjA `'~ ~- + , Lot ti. B[vck 1, iRllti; 2: Near ttlpif, tnaiata, awin+mins. his gchaoi, and Beaver Crcek skl Area. Zoned for.dasprex/sis}gye ' family,..9i68,506. 13ENCHMAAIC BGJtLDI1`1C3 SITES Cxnerd wmmevclel end wrt}ertercal/Ittduansa3 aEtw with fine clime expaaure m Beaver Creek Sk1 Area and I.76 at Avon. Allah Medaker / Pear Dfftca Sax 2327. Vast Ca[ored¢ &1457 (363) A7&1798 or 4718-{ICE ' ' Vail Run realty Incorporated I rTr+rilifjf~tEfl j1 t t::rr9 . f' ~ .s r_4 ,i- LuxtntY. IQCATION AND EXClUSkVITY i0 THE MAXIlI LODGE ti'- LION5HFAf). Were Is an elegant two bedroom, hvo bath condominium with a fiJNy equipped kitchen that i9 furnished 'and racily to be used "for this great ~I season) This prestigious dwellingg is Jtast seconds hom the C-,ondola and has excellent year-round rents! histi~ry. Ofh9r exclusive features Include: a heated swimming pool, underground parking, sauna, lauf'irtry fdcilitles and many more. Call us immediately for more Informaflon on thlsonce In a Ilfe time bargain. fxCellent terms are available! ~V~il Run Rcalttyy incotpor~teai P.o. eateao i!rrallaesa rwl vail.warss7 (3()3t 476.43:3 I . II BECTIOX 0. ¢anarN adnan[abNbn d FlsMa A PLma aM Tmaa d Oepwaa FaGi of IHe pecl9 Nreis cre Getl In Searon aharwl, Ins tend Tranaier Tae Fund and the Caplet Imprave+nBnta end OpBn Space fund shall ba aintaineb Ina Cemmarclal aank N a Oo0k ecphrnl xupi separate and apart frpm en mbar aetvuMaorlundsdthaTocan 09Yma1 eCteunts Imr for M pb.pu%a nereln tlealgnaletl thBmlVB, For pucpowa of IryvBSlmenl d ,.,nnnv nerb,nn nare,n omvanla the BNervnna prondae Herein. SECTION T. Pnprl4a; Uene rwaeee M AtldlbnY BBrMV antl ,btlldqul Weneny. aewnuae;LSeaonO Lfmwon PMdgetl 8alx Tn Pevanua~ Evice Pl as eapr0aay prmihd i Inn Q'tlinencB with veapBG to Ile 'laEaanm d Aenli0nel Pi rift Werrenta, Aptliuprwl Padi) [ESnerN Obhgetion ae ME, Peaty Sewntim fl O Suborelnate SBdunfias Bnd aubjem ro Ih! O6agetlon BoWa wrlne sPletlge0 SaEeanTm Have nyyuaa. IM Pledged Revenues anon OB dra set aalde w pay the UsM 5¢rvroe Itequigemenrr OI Ihp Wmranl0 in and Gpallpn of tna PoireclrG pt 1nB PletlgBtl Aevenues Th0 Warrants W ralitule en irmvomde eM timl 1'ren Oaf Mt rwmasmlly en axcW4v0 hrk anlt purpose othBr ltbn NB reiplWVB Wbvrdinats to the !iv tlaalAnBlee purppaea dsuW NMEM superior fgenerel O nsetlltMSw EnB prOpe~bOUk accBBUnt airotllarar ABvenuelana dlb thrc Nan m0 d0[e tHerefor herein tleslgndtBO. Ordinances, IhB TpwnE pt Shat wMn any Brach ears BrRII bee Debt BBrvlq wOOVi.em eucM1 dmv~menw nwuybpe medegon o~Ebefom tM F s~cal~Year and olnl~et mem hm amy m me e,tent mm Pbogan Lard Trarraler tna Pevanaoa ua insmttB;ent for NN oi,p n purpose. Such Werrenta. eny Atldltiorel Pprily a IM Warrants a d a Y Olher Panty Securities np in D eo n0reaneraulhorised tomia9uad antl }ramtima to lime Ouraraneing ar Bgweewyy and retaby . y ~be• sec lrBe byellen on the Pedged HpvBnuve antl ana n the en orre over Vre ' etlto NrYpa aY wlln e a n O~mOr In IHa Ppimpan Pietlaotl . ea.ege.erws or the llme orlrmsa pf lw ~ fir imm snce cl lne wa.renls. any Adtlillonal padh i ' ny~ v me iniemncn ot~m~ ~ n~ca~rrnca Ma - 1 r Ins there anon ba n0 pdority emonq the Werunta pmxl Fund any Atldlt'wnel Parity warrants and etry oin& PNiIY SeWriliBS, reg~rtlleasdlnelacl toe they vlde0 Fund may bB actually i suetl and derivered m dlNerent limes. '' rout latent 0. laauanq el Parity WarnMe luotbi~q Herein, audjed to the IimimtlPm armed 50CIiOna TI ertl TJ hpre0l, prevents tM real va to o ins ee lay the T of Adtlhloner Peruy wazisnta or caner a0ditfona! PargY Securilba varama o-om ma PlBdpad R.wanaes acrd rt Ica pnslduting alien pntha Pledged RwnnuBa Pn sl eny as an aperilyv,irn, OVlr,0l prlworauAeri0rre, urellOn therBpn 01 rtx Warrants, Or peranla fie ovitle ,as.rBnc0 0l wart IB or OrnBr SGCUrllea relundlnq allwapart p}inBwnrranlx ~aceepplea nl or I new povitletl in $aplpnS Try Fhrpugh TJxneol;bN I hdpiee cu u'ee H a one d rr n rvaan ~drn Pe e are l nv yiaaued [ewlaairrq i;t any a~inarzenpr actuau 'n~will ~ Wam6n15 lrlilmanY ParilYr3e~cunl~f ~Bi urdirlg I slaty Atltlil'IOnal Plitt W'e6u EOrainatpd$ecu•IltP~rratya i y I S N the uch li0n TF hereB4 and ;iv7 wtmltled n 9ec Atltlilienal Porgy Warrants In pdrrppet - iyapn Itelher empvnt notroexceeg8~, tle,he0.ntingtlhy Me Nrdhaeer Oc B~ pBipm Mercn 1. Ie811 the 'ate of eehpn folirMing ppnBi0ne moat Ikrat ba sarial,M Srl laavanre on aRelpm March},195}, Toe .~ i;9 a tl SBCllpr 60 hereof but mB Tdam W no! re d Atlduaral Pa„ry Werrenta on a eequmtl to roves, er po [O invert In such a before March t tg61. Sr,usF he epprovW b any mpnBya eccvunled far nereuMer rN 'npey lna PV,cnuar. ii eny Such rnve9lmani wwid ConlmvenB rn0 [27 b90nce of Oelaulf. At the h ~ pr tPo cpvenanr cwrcmnlnq arexrage N sacrwn >u neoPtwn d ma awpremenrm ern; aq a hBreol. plipr fnairumBn! aufhoriain9 mB ,9wBnOa d C No Llelgllty 1w Lowe rnanw N e Aedltionel Peril' Wnrrema es rvw,tlatl In Pxloridnq Tmms OI Ordrrarrm. NBnher Iha SMbn T! Hereof, he Tpen ahdi not he xr Town nprerrabmrd}ne TpwnahalrbehaG. daraall In mak~mg any pavmams mQniradM 9aponvble rorany lee readun mhom an~ semmn s narmr rBrnvealmanl etle r [31 Hisl Onc Revenues Teal Th0 Pledged a6eoreanpBtwilhflnra Ortlinanm. lend Transfer Tax Re.envav,es cnrdfied by an O. Lhsracter of Funtla. THB mOnBya in any IrrdapengB~i AGlbuntant, derlvatl in In0 rNl tuntl herein awnpnaBp bnarl wnais! of Gwiul cpmpl0r0 Flscel Year immeniatBly yy 4cedingg mrMey B} th0 Unlretl $imes pr InvBSrmBn19 the bete of the iagvdnB4 vl aucb Rtltlinonel • MI1Mliny II) fhe A[IaN nh¢lbt EIIlIp Apvlrlmenn, I IrrMpuielc~acN y eenelnN In MtW I pad fierclp P!q VUfinente al Nlpli and every alnn issW pl pVlaunainp Aednianal pu~ NNrrenNwoerwf Re MY 5ecurlbellh lhel Yil cpmplnbfnul Yeer. Rul iMAVUepe ' Mn WI aeG 6avme flaqu Vemaml fpr Inane puletendnp WuvemA Aadlranef Putty Wirnn{i Or doer Penly 9ecunhee Ipl WiVICh (lu ' ar Prl hand equela -a; .rte IrYI Ine llveieq AnnVel pep[ 6elur[e eamremmfe Id p,e Aoaiuonal Pray werraml pr whet Pemr e01 Yoer MIS • lollpwihq Ib aelrmela eus pl nlaan[e d Ine wk ryentl Ipaditlpyr penly Welrenle Mell be Ige1e pl Ine wmaaeVmee byaetl ~nOpj lylne Avenge Annual pnbl srewN;e br me Dulelandlq warNnli, antl Izl the Avenpa Annbal had anarca far ed Wnu puleupan6 Aatlibonel Puny Werrema m plnpr Arily Sxunlae ena 131 me Ayuege Annual hod Sawce rW Ina Aaa^'ronel Panty Warranh of aemtioMl PerilY 13eWN1'In Prppplea t0 60 ilerpd eyppl a! fIBrMMlter VtMnvne eepneelr 9rarveed, 151 Aalpilmenl of Pleagea RlVenuee.ln Ina campa[aoan a Ine pmleclse revenues tml m se[awn Taral hereon tna amouns m ma w~ea Lana Tyeneler Yaw Rovenuee for each ., d~fiecal Yeer mnybeln[rpeeaaaylM mount 9 gArn WRI[n Will n{VII Ilgm eny increafeln eM ameun! of IMLnna Traveler Tea Acv in b pnbpd le ;fenflul pl pall Prn ,n Ine Sporn curl yfnsl succeadm ' flwa~xr ee pravidae to arinel palnnrlbe ppf IM Town narrq W wPq Mbnbny prerWnc. a'p ?810 Pravldefw e~chmGxea. f81 Mepwla flesama. Tne prpepead,~ near wmkh enY encn Aeadronel Palsy Wurenve pr otnel epa~nonal Perny 9ecurillei en isarwa mral prwme fa ton eeppel4 ar moneys tp Ine Auarve fIIM Irom anY aalar[p r.. eepecl ro me muenn w any ulna Mtl~lronal Par'uy weuenu a eatlrnMe, Pudy Secarltlce Iiwatl pda ID Ine VS11 COLO. ° ' On Gore Creek 21 condos ready to build ~";: Total package includlrig approved plans and final tract map avalkable. CII]l7tACL2 ^ {602) 9$7-9668 - NEE~~nnoN~?? Why nor use Me equlry In your home a condominlumt • flay o business or income Pr • Worfsing Copltoi, Debt Conso II dptian • Home Addtnons ar Improvements • f~eHnance Y+xa( Fioine • No Po€nYs - No Pre-Ppymenf Penolry ' 510,000-1i15Qr000 Our 4sf and 2nd Motigage Dlvistan,.. is seMng: Sumnilr, Eat31e, Park and Lake CauntiE,eS. ~I~ AcnmDCKIL~ quotes on GNMq FiWWA, ~1~~~~~1~~ Pd~~ ~a~®G~pO~~]~~D "Full SeMCe r4bngoge Donker' Phil Miceli IMOttgoge Qonller von: c~~~yA7lraab2 Denver: CaSJ:57 7794100 Ptnza South/568Q S. Syrocuse Ctrde/Suite 106 Englewood, Colorado 8D1 i 1 ~J The Bali Tr¢i! --- F'ehruary 8, Ir98U 47 ` a, end flrllM Ararage en such relunprrp 4rknl! pr miv Mlrg %tpg00 Reypn Vps rot Iro peymenl o, SM i n Is Id N0 Itleunupf Gntl tna Oulgenemq unrelanaep raluneinp warranle or nturWrnp eecurilree in e pb geuon aonae ~ Wennnta rW eny Oulalanemg meluntlM • wbpreinete lp Be[n IVpn Iran IDr the peyrrllM Iel Tee!-Plntlppd Salen wcunliee la ex[eea the lgyregele pnnGpal end ntaast wnicn wp ly n x b al eny wenantf 01 aECUnllpe nal re}ynae6: DI a e Pl x ^ V e a oon tlue in any ~Yeerp uen[ DIIM Icl peleutl ena Caraege Tees. Tne retuntlm wanenls or rei nern ar leanl rabl pl m BeO ma Y y L l I l v n f r[IVnOn zwarrenls or relVnar,p wcuraias.ane n q ^ ie0 e B deuaar Somphenra. Mvlragoa len^ l, n llce eer Mnl dale of beuenceol the ante.. I e Ilan f me nrunamg werranlx a relunam xcurillas en o P lrnn{ler Taa Reuenae COVaepe requ,remenli my oenenl pmrgel'mn e p l o leaype Aererwae is rlo re sea w a sgra. wmuty Iran me Iran atha Reaerrre coop Aagminmente of Section ie nereol arw Ine reaa~remsnt d 6edipn re ' enl 10 par en emaaM el mere al top werranln a Mcunnee relunMa - nweof witty reaped to nerl,IrVetpn el reremlee 1 Ine wm ^errved aY Annuarpeot5erviyrlx there W.M Ibl 5ubpminen Lien The lien sty eny please 7krrrt to Page 67 ceps oroyraea a Iwm Peron Tex The R. ana atnei saewMmw. io o n unoen~ei ienerann1Be w time! IH Inelr ngleree'eunenna far peymenl on nr^npinp. enan caner IMn m.mro er anau be toed cell Wle for prior reMinpGpn al lne Towne opli pan oro~er [ell. nlnaa too r p Heldae al h n Vlarrnn=e ar faeunusa eona.m eo fact wrreneer era Wrmern 7 171 Pnrl4el Aelundnps. In Ills went M a Sunarly N Iwe men ell W IM WlelerMrrp y'r .1 ~ j ,. ~ - t l } ,.:- '~ l4arfAMe rc lace then all 01 IM pulalerlarrp • 4 { ~ fecu^He9 pl a PernNrer issue rMreon ba warrant. a tondo rltWe reluntlir _ - '. '. F p neuae penuem w tae sealan A~ enen a,jby { ,;. ' a -* [R°armuMeee nwaio lee s~inniunxanpon o liotBenp. ~.:..:. ~ ' r .,~ ar.ams a unrewnoee Ppmpn al .nr omer 6atslenpna fBCV nl Kl. In flaadityl. lop Nortlpr VAIi TOWNHOUSE -Two, two oedropm, two bath r or Aolan PI su[n ntun^~n enanls ar rel„naing fecamre, anon m ~aeragerea la furnished units rpcated only Steps from the Ilfts, C heya. ana .Mar all Mlhe nggnnto ana prbilegee shops, antl restaurants. Gore reek runs byV the North ~ - side of the bWitlirt While views to the SOUih overlook g ~ - ~Iyae~i or mina°irai ~ec~urtlomiuneea , Vall MOUn[aln. ' - ma.by nnpndnpa, My mien^nlaetei0a~re panrol eecadtiee LION SQUARE lOOC! -One f7edrpom with loft p u oco ra nemey a :s~n1° 4in si ~ eeip ~ , t 5untletk looking towartls the ski runs, i y a a n,e r l nra,nanceaaner lnnrumen=Praaae, ,ua;ad ~e w ~ b~ a eye eve qua of ~e LOT 40, BUFFER CREEK -Approximately 87 of an , acre of ground pn the North Frontage Road alongskl2 i:a : r p111 ena wnyueyea aeamnelee in sectmn coffer Creek. twl?I. bw Itlnm .ny 'r pel.mem os .ny omrecmel oq,yprpn rmpaaeeuppn+ne Town VAII CORE CONDOMINIUM - An unfurnishetl STlldfh plus Ipft apartment lotdtetl In the Center of the e~any ancee^mpl aalnonpn Ine rawenn pl ,rum wrwee Portion or r~,e ouraarwmz yllla e 9 ot.i nd°` mr irnnwnane Potion et omn ~ ~ n ecvo rl l wrnnls pr Aadlwnn µl P,m ~zfrenn~01w.rinnaial o~rolner prpairyieod~rp eR A I't h u 1' - eecmilm ny owe or.iwaef pereae tram IheWepgeaAaysnsraulobenWnrbe.IMn wen Part pl cue secvriueamey rrpr be refunded Bishop & Co mow ma wneenl of Iro slwunr a. {wlpem a IM unrelvMee panwn W arum necwled. . , anises. lei Reaernments flol mereeseo Par me 392 Hanson RdnCh Rpatl ~rluniraaalss nruart geaemprwnalpnglen',aa i :: POSC Office BO%667 - veil. eoioraao e~ss7 ~ g ,Ianerer ~ LIeC al m. oanure~r a 13031 4765691 u.,r laneea Warama arm . r oabt.mlmg nla rn welunaea eewrnles, Ine retuhdm~w a • V ' -- VtJ~,. ~ - - . i.00K WHATS NEW IIV TOWNI Alpenglo Realty .. Md so are these... _ Booth Creek Duplex 3,297 square feet, four bedrooms, . ~ ' three and one-half baths, excellent .;' view of Vail Valley, , ° Duplex on Gore Creek 1_ocated in East Vail: ' Great assumption. Booth Creek Duplex 2,479 square Feei, three bedrooms, three baths. Beautiful views of , Booth Falls. - Jerry Freauff-Broker-47G-IOE4 . Mark Bernhardt-949-5543 Gary A. Lebo-476-1014 Karen Freauff-476-IOi4 ( + ' .,ice. ~-:.,~ .. RIYERliDUSE 4~A~dl?luxe two-three betlroom, three bath urnl5hetl apartment In One of Vail'S FlReSt :ohdominium complexes. Located on Gore Creek antl - _ ~ ~.::~ . , ,[ , ~- A restaurant and lounge locates rn one of V311'6 bQSt , oroaranhed nunalnas. m the 9ecuiilMSrranlf or aloe Ouleknemg Parity R~BhVafi InINe Cemlwlalroni of IM revenue [n! sal rprth In 6eaiort 26191 nereol Iha I o1 lM Pleagatl Selea Tax ParBnve9 may be ilw ey !ha amount cl Bain. as C.oV rr~getlwn m~ wpV~q ..fall l~roim eny lncieaae In arc emaan[al IM 9elos Tex ea orpridetl rna ' •, •. The Vai! Tyaif - Fc6ruary h, f9F/0 6 / ~ .~ Pleoie T}eril to Page 58 ^ w MANOR VAIL STU4,710 sy Owner-Prestige Unit-$155,500 Yop door. Corner. ~1q fl. higgh wlndowe end fuH 2lalcony lacing ski elop9e. (Bldg. E, f737U}. $paclbus ' hv¢ng apace, divldas into two areas, 9laepa 7. ContlO arnenisies hicluCa ownership In 2~ pcols, 18 tlszsno 9le n 6tl Oure Efecellaant~rsntaf nlatory,2 Relahert 2 4 4-243•e 4 81 Of 1'Ice 244-247-974e WetBkends 11M~ERLINE y~ of /-sO~nES/ PROPERTIES 286 East Bridge Street Vail, Colorado 81657 Village Office: Above the"Dell" 47$-2113 Open Everyday CONDOMINIUMS HOMES FALLRIDQE Condo wlth 3 bedrooms, 3 .~,; a ~,,1, ~ a baths entl views of Vall Gol3 Cavrae to the x wus3 Beautdutly furnished c?F 506 - " r~ ~ ~ € a ~ 4 ,~~ . ' ~,~ F '~ ', VAIL RIDGE RUPLEX: Halt with 4 -~ betlrooms, 2 baths and a magnificent view of mountains and the valley. Located in an all• residenliel neighbarhocd ........ $152,000 GOLF COURSE LOCATION: Ona- i~ halt duPlez in Eagle-Vail, Oual lty ' construcLOn. Two betlrooms, three barns .~r + plus attic entl storage to be ready in mitl- .+k: .~ L~° December ....................... 8185,500 REVA RIDGE: View of Gore Range lrom ~ r~ v k~ this spadcus unit in Vlllege Core. One-half :. interest for ............. ........ $145.000 ~ -.., A rare chance to own in THE WILLOWS. Welk to shops. rest~urents antl the. slopes. Corner unit pt warm decor in well-managed complex, onl 000 '-~ " ' `F Y ................... $t40, - -~- $NOWLION: Two baeroom unn In building with many features and exceeent EXCEPTIONAL YALUr=.' si.a rya location .........................$130,000 Singlefamlly homewith34edrooms,2haths LARGE CORNER UNIT• Os rustic an 4betlroom,lbam renfaL 2,Ba0plussq. tt., tlesiggn, with three bedrooms plus loft Irt Largo k#tchen end living room. Situatedon Interibchen. Owner wilt pay loan points.... 113 acre. Must see to appreciate.. $178,UOD ...........................:..... $232,500 fNVEST IN INTERMOUNTAIN: HDME41iTAKE AT ITS BEST1 C Octagonal single family residence on tluplez attd bright one bedroom plus small lof `,-a 2O d tot. Three bedra°mg, two barbs, beam h9autlfully remotleled with custom kichen„~4: callings, fireplace ....::.......... $l04,p.06~- Inbluding washer/d er ........... $87.560 "' ^~ ~ ~ - '' '~' BUILDING SITES BEAUTIFUL WOODED LOT: Ready to builtl an forsingletamilyhome whh rental. ' Owner will finance ..... ........... 557,500 VERY BUILDABLE: For duplex u.. v2 acre pWS. Excellent view from Whiskey HII1 ................. ................. $89500 2.9 ACRES: Bordering 8LM lentl, Fabulous view in Waist country setting t1L ~ t welting for your custom built home. Easy $PACIOLIlG: T bedroom plus derv access with welF malntainee roads. $54,500 townhouse In Ptarmigan. Swimming pool. GLEN LYON: 677 acres for primary- Beautiful tintsh work. Mountain view tram secondary home. ~Vfew of Beaver Creek, balcan ......................... $102.560 aspens, tennis antl swimming in subdivision y', -:,.?rY ........ $105.000 COMMERCIAL i COMMERCIAL IMPORT SHOP: m °~ ~ ~ the Lodge Promenade. Lease, Fixtures end s-.._.. - ip~' ., ,~ :^- inventory ........................ $110,000 -- ' ''~'` GOLD & SILVER IGLOO: Specializing ' '. '~ ~ L ~ "`i'~~'sl'iQ `~ in Indian jewel and African erF. Terms CORNER LION SQUARE:: Hotel un01n available to qual~eed tenant. excellent lease building with many amenities ....'- $76,000 ................... 555,000 plus inventory. four bedroom duplEx. Next to Nottingham LaAe, Owner tlnancipg evaileble. 2 sitles ... each $239 500 J n w:,~N II ~ r,F dRr a s a ~_. ~$. x t.~, f "r l TOWNHOME IN BOOTH FALLS: Featuring four bedrooms. three baths, completely furnished, with views, sun end [lees .. ....................... ... $207.&00 OWNER FINANCING AVAILABLE THREE BEDRODM: In Minturn with magni0cenl views ................ $75,000 EAGLE-VAIL: Duplex lot, t.ea acres .... .................................. $89.560 betlrooms, two baths, West Vail': townhouse ...................... Flom Page IT + -~~ ~ VO 7hr' 1'ni~ F'Hlrrun rp~8. l7Rdr1 I ~r I I 1 - Preferred , Properties In The I~oehie ~ Top of the Maurrtaln on Bellyache Rldge. 5rxnecm,}ahubua v3ew9 pt the Gare aM flew: dk Ranges Tart large log-hones. Your and Three tKdrodna. Msin laaNx has a rec room library.llrvunaaa maslerbedroom R Irxrcd~le klev#, Many eddluvm'r wren, incfudllg horse stallserd can woauoan. f+eNC hgaaf anE «osscaunlry aW m your own pmlxM~ Can m frVeVry, I. lidWrldge Spackus dudlo with b8. Resl+ttlY renwaed with ceder _ nelrnnqq. nets ca I erdammaloek Flleplece. Fraeneatcdk terltN PiVasaory.iell Ga+e~Nx~mnen .............................. aB4.9gD . Mpuntela ienacC 7awnhane~7hrex 6edtoPrrc,tw andortehetl6dM, -~~ pcuW. exo Wkenka. tIn069NCtc'd .New a use enure vat wtd antl . ti„r::, cpuna. F,xaaknt lerrrts. Cell Jbn'McYeY ........ ~±!1gg, ........ Wwt YdE Two Badramw Fully htmlahed wkh lgwmn0o fee lYln fncbadea ' treat nrcplxe. cnmerurdt 8edbrylnlPwtaAgentlonklceia.Ask for4nv Cawddn ............................................... iBS, Ilanemsrls i bedroom leas ahlrno, eattlkn plrr far lacer, Mgh~k+ Incortx. 7cmW ewdlebk. Cen Jim McVey .............. .. 130.000 ~'si ... %. +rKr...;a. i , ~ ~ ~ ''~~x;• I.uaury ~pletp Un7qua new euplex in EaglrvaN kelures IndNldual Ilopr plan and extedar For each aide. Fgch aUe hoe Three ,--. _ _,..., two ertd PnrhelF barhR MIrePFnenrplher nreplec+e, redweoa ddeeelt and veuNed eelnnga, Gaq Barbera fiidsoiahkVey. 'IMIIhYIIIlgrl! thaDeAQ' N Fatern, Cofarada wghln I/3 mik a! 470. tnchdea a ggRf dtap. IerIW cadna end gas al+adon Tanrt avafkbk, CaE I. Barbee IYittrols'Nrc9ay. prkad tP sdF WPaGed ane acre kS tIl lntem+araein veldt breethldang . - vlew>, Zoned RSM-l7wnea rirortckg w,eikbk. Call lava llww .... ... ,Fr65.0g0 ... ....i . ........................... B+ri~launtefn Anra~ t« ktlanW[Ign ea9 Barbara nicnota,letevey ~~ Thialsmly nparllal lEsWg ofUre real esrsrtapppmn9iea we have lnoRer, sc cab wr UPCe far aadtlknd irfomanaon. t . ~~~ ~~ illi7ll4l~ll.~ 78i1R'a K7W~Ml~f~ I ' YNLS FULIr1sERNCB BELL EST/ktE eAtES ANp PROpPKrY NIAriA0FIr1El'IT CafMMfY OFFERIn6: alneaatment Cqua+slane ~ aptope Msnagemal ~~0~n~5~ .HeWrslk~nbgemcnt lReaemtlons) ' aRtal FJWe Saks aMalnletaence ty~B.utl~n~ms Opprxtunkfea aCustom rntakrs Ara7lsPk Bell Fowar Bu}Idirg (Dl eat or C71AdrcR'i FwdaYtt F.O,Bax 1 32 §, CdoretlP 81657 Tekphorle1 ~303p764262 - • • ,* Frain Pace 67 ~ made mmemr. a umrl me wr.enle nwe Pe[ome Lue error m tro reapewre limes el ooa. appncaPM le the mares qr intro town vlherwrae been rpdeemea, ,rtuwrnq wnnpur wnrcn lee paceepamwePt mall de neeaprn ~ L. PeYmeM d 6orernmMMl Ghngaw me hm,lallpn. Ine terminanpn d the pledge a6 hee n a m xcoreanc with a scaedvle eataqusred an9 FPwn anal! per ar <dnsP la bePartl altraxltand Baal asmenli or clear m nrarpol pr i r, pr,zep. T.9urlly 9aMaEACn pnigelq olnerpeman agreed upon belweenlbe Town ane wcn LenN a Ihenme~gl me crealran at lheexrpw prirael, e o,nnmantal grasps rl say, lawrully MVretl ar ndvrng Custody of arc/ neppee Pevlnrles al the Federal Securllrea mall be 9ublect b asesaPd upon p rn r¢scect Pi In! Prolepl P vPM any pxn lnsrepl. oru nany pdtlpnW Grose Prolecl RavM+na, Br rpappna~bla fq IMIr M1aMnng. andllpe lPllV bonaeaetelnrmea retlemPl+m al Ine aptran pl lh¢ holaur Ihered re apch ave,labally a4 en reatlee to mBBl u M m[ meaged nerenues, w m! !dine shall Mrzxn tlWe- MO i ndu tluly absmre antl wnrcn Pend !trap be [ ntldrgrred uyon Ine draper appmanon of saki mgreyf c M1eaaq, a Se CTION to. ae1aW1 PrevNipral ane cgmply wan psI ve ,0 r qunemen,s al arty LL Nbllu a C . 9 elnant Tne TVwn PPVendnla wen me N l f flemWlex oa WarnnlbMeprR ~Pelwggwrnmental aulnmrly.¢lativet° a pa tl ear evc pl} y q aera o P the Warrants that rl wdl make no use of re ! a ~ l h e A EvMn ol a dl~i 0 a a ~ ~ ~ '~ e cen g pmrod Puring ar bins Wnnp ins m t rm l wn Gw 6ucnvs W d b m h r M deLlar ea o b a [Mrvale6 m good larlh pv oroper leg~l e een reaspnddy eapeciea on tea aMelhe warrants are etl ltl l e ~ wnentdlp do EVenl o}peltlulr tl Nonpa I P p orooaetlinga Tne Tow antl! I create tlertp Peartked eny tree Prcharge upgnln0 v . wou ove ceuae0 Ihv Wa•~ante to be arburage IMnde w+lnm IM yment P nnu al w premium. i Payment of mapnn°pal of any oltM1e Wa+ranlE. PrallR. 6r any part mwepl qr m Eha i~ } Secnpn a3ic1 a1 ins Interns v Pnpr ro0empnon premrum dva q a nNgM fleyanuea. s=teel me pledge dnd llen RevBnpP CAde of Ig9s. 0a amertaee. dnl¢SR r an d i l ecllan Inerewlln, ar path. ra nPl mdda wM1en h crealM PY th+e ordinance IPr top vaY^,ant at Ine pen! Senrce aeau,t¢menls due in y provo e on a law neleanar enacted InB i^IM051 paid on the Wanama let 9ha11 be t e aem becomes due and pdy0nie, O'Ihe. al maturilV or by prpceaarngs iw pep rattan wnh Ine Wananre. ane pvpMl ae cludable Irom the grossireomeo#e reclpieM redemption, pr rNherwlse, hvn ngmerwlsapermrttae. Tne Tawn snal~pay Thereof }or leaerellncomelax WrpgaeawrtneW a d t n ITT NPn(aYment rH lnsredt PaYnanl o}eny l El P pe pi6pn8rged ar anal! Ne aeMUde pareron to saualV ane lotl,9charge. le g r p elner Pr nql NE Wanenla are Pitrage epees. pr Sbl shall beevempl tram au nala menl Pf rmp(esl rs n t made wnen Ina, same becomesaueand paYaMe ar wrtnmiMdy n Inn m sty Igp1 pey9 ette• the same anal! beeprra pdYdble: all lawlVlelarmaanpdpmknaa 'nCama layahpn. SECTIONA W}eu.nca. ~ S9v1 days trereallp., i~}tncapdbta to PSrbrm. Tne TPm }pr eny aba. malerrWa avppnps ar purer celesta re wnen au pact carets Regpaemeas Pr the r rt'Q1 ia. °r nrenb°'aP. rnaoame o} wmmnq it wl ran d unpara m`gnI br law become a lien wa..ama nave peen emY pare me ptedeeana s o 9el~o^s nareurraer. ~ rn7 Non erlormarrce PI OBh Tn are Prgedl o ny pan drereol, or the Wed9~gerpnppa, bvl mining M1Breinr In r p e« Iwnena all rsbiigetlerr5 nd,axrnder Man here bV a6B meJ lo~ l ~ naoun~and ~ alv i n~Na p pa a Town Snail have !sites lP Carrrovl analp perlorm let '"q°dd lawn to cegnine erlorman a F e nlopayar lO Cause [P na m1Crrb u tpmate rovraton lPran nl p b g a a rr n i p y p l eu ac Band lhrngs Nwlully regmrM lO be wrHed' p y aup a=.assnamenl, Irene tlnarge 5a l9ng as lee vaiWrty !Hereof l6 rp of this Orphten4 Tha.e hall b deep to b¢ wen auo paymMl when Ina ~°n ro ee cerlorme~ gpnaerany eonnad regP9d lalthandbV+pP+epeaae 6egal NaLl~aldM TPwn naa Wacea meecrpw prm vast wdha I PrP,ep ortoell warycambinalrgnm~ r rr M. PrPgwdbn d 8aardb. Tne Town Its meal Blnk located lwil~in or wnnevt lee state ~~ weo .w elnhwise Inciudlnq wnnoul Irmnalron. Ihfa ' . ap into nqr anY qMr atliop taken by which the ripnta M eny Hwder of any wamam m olrar aecunry PayepN hour PleepOe gavenws mignl be psluerClally spa malwlallY rmperretl W drmrmened It Ateumulallpr d Inlarnl e41mR In order to prwant am eacunwletlrm of coppona ar G armaforrMmeflaltermalur ry, the Town anal) nal0~nept aq meneCllyexllne IX aa8enl to Ine e n 1 Ina Irmp car me P~Yment al eny cWpan N Gdlm,lor interest eny a Ina ' WwnMe Or any ocher a6whlieb p8ye ble tram Pretlged Rerlnu09', ane Ibe. town snag nM [W~n rnatallmenl pr In9lallmenla Pr scar such extensron angemem wyn not Peenblree incase of eela~irnerevnber m th. den.w « INe aac„utr or misord~rwnca. aapt upon tea pier payment m b¢ pl me pNrc^pel d all al the Wanenla antl any auen ' spcgVpon9lee payment ofwhrcn Has ~a Pain axlenaed. a. PremPl Payment pr WarranM1. Tha Town elan prpmpnv Par Ine peel senile ep+rrremenle aleyory waruntmhe Places. on Ins Peen, a rn me manner aptarnM Herein ane rn tea Warrens ane rn inacoupons Herein pnammg accaPoinq Io the true invent ane m re pm.o}. FupiaR~TnBI P<,nc wla~O In e~esitFUldw ono ^e Raseew FPM nnaq be used 6010tyflndonlr.end t~aa wa u.dn.a to wcn accounts a pyedgea. lo• Ine Purpose Pf paYinP Ih0 past ~ Ca Redurtemanla PI Ina w8nflnls to ' mwr rppedrwe matvmres qr eny Redemppllpn gale akaoempdPn paleean which 1M Towne . I.e~N atiaa eon Nm~rraawm..,,iaawaartaln... .. Becrmn ap arW aWlecl ro $BMNn 9llereol. ~::;~. c. wAllgld Y coneaaaT"a a V,a"an: u: a P« Iromanpppg~a^ Pavenues crest tnanYathe wargma witnaw rompgence wen Ine mgrilamenle wvTn reaped to ins issuance et Adatrpral Fantx!lganants. Atldiligrul Parity Gerreret peligalion same or env. aacuHliea seE enn Mreln,' R Oawr uaaa. Other Ivan ne pavldpP Herein mare n nptiem qr encumderencas o} en' nwurawna[saver M gBgainal Ina Prgecl y partlMreol, erenar apaimtlna Pletlgca aarenuea deneo or to be denyea a pxppar a Rq.c aronlatea~ E=teal as prwidvd in 9ecllon l3R eared!, Wenner eu nor a aubsleMel pen at Iha proied even be aaP. m0•igd B0. pka ee ae Purer W je NaP~ oar noon as a Ine war~enia n,re e.en pee rn Iva, ea to an peN saint. geau+mmerrls. w amass orbnpm naa eeM • ~lpir~e ~I.og ~Ho>~es [Inlikr the common milled ]n+rs each home yve desists and mnstlvct is completely huiit fmm aeratch, h:arh In}g~ sR tl¢nd pealed; hand notched, and the brims is err nstrucled nt our In¢ Int. Thr Hmhel• used as the drialt nvailahle Indsepnle ins. 'I'hr reault of this metiruluua pnlrcas is a home tntnlly In~individualislir. 9trit~i the r hanalter and rxalidnnna nut found in today's mnvrntinnal rnnstmctinn brhniyuPR. K'e elan desiy;n and build cusbam Cunduminiumaa Heel Lradses. The c~uatnrn designed hand hewn 'lag horns... vailable lor~ ryh p rooee lrom Feaxdl HPIEera rota ^oy ran p nGpai a undue 'm r pch amdmr wh[lalyy. Pr In yywrenta the Ovntana'ra O1+nlr P'I arVmaV ba miilWyinvanedl to mee 11 OBd 15}Appointment IReu'rvermAn prdert e. Ice s:eauiramenls a Ine warrants, a9 the , eases , a tend ny a gavn~ a coin%ml~ arm aa[omeaue IP the new marvdnas of Ine i a;d,eon. wlm inn dense"I o• acquie #an,Ma « upon am aeaemptron pate as d line town. app,sim;ag a receirer pr mcarw h'Inn ma raven anon n,ye exergieed pr seen .rot inn Pledpaa fleyanpea ane . v pu ay6 oWrgaled Itseff la exercae n6 prior ~' mpneyv vuhlecl to dm non la secure I edempt On opt'rpn by R pill d Warr 1 d' ~ - armMl Then Tna Faawal secumle en.u P7eaae 7Lrn to Page 70 -, ' - ~ - INVESTMENT PROPERTY FOR SALE/ - EXCHANGE BY OWNER ,r Vail Cnlryrad0: Lpridmark Townhouse, 1 bedroom, 1 bath, wall to wall carpel, velvet draperies. foil wall papas. prnate sauna, lire place, end unit, famished. sEeeps 4. walk to gondolo, private underground parking. exceffent rental history, g145,00p.00. Fciole-yail CnfnrCsd~: 19th Fairway condoms- nium,a~ bedroom, 3 bath, 2 fire places, loll. skeeps 15, wall to wall carpet, draperies, levolors. mirrored walls. !stated at entrance to Beaver Creek on Eagle-Vail Golf Course. S225,OOO.OD, . - - ~' ~,goFP'vah [`nYrXadn; 2 g~off~course dupiez (ors o. 44 antl No. 45. on 10th green. Available for spring buil~ng. 5200,OOOAO. CQNTACT TERRI AT: e(794~ 838-69'14 4 a. m.-3 p. m. PSTm.-3 p. m. PST 13372 Newport Avenue SUlte A Tustin, California 92b8Q r,r I .. fro illustration booklet o1'tvatom eeaii uTtR send $5.00. by western heritage log' oo., inc. Western Herita a Buildin}a E29'l9 West 2fit~Avenue (] /2 block west of Ynunsfield nn 2fitft} ~ Iden, Cnlnrndn AM01 Ph n n e: I: ~~!tt(I~)(a) 12t 12-R 1 I7My{Rt~~ nnntial~rdnyF~ Al~nthrr h m s ~jv uppnirTdtJTne l~ until Nnnn m r» 1 ~. 70 Thr Vni! Trni! ~- Fi~hrenrv N. 1NBU From Pgr¢r BN plt,(ewl hAV~Pg pPrYl nI dIFAd MrIROYlBIIM CO~srd or mcicnn peEC~ ds4V tleo~ npvenl within ualY IBpI enV1 nlNr MIrV, I61 Ce10urc pl Anr P.[vnlpn- Tna fawn mB1,le a Y dr+eWl I IRr due punClual 9en~ Ansel onao edvPn•nll.x dand~uane. eny anp plnlr pevuicnB eonbmetl m w WBe4ra0 a .n Sba Oldmanee an its pasttp uv I6P1 A~r~I B}I~{ wrcn Olnahc•~pecW fop Bce ~ aenat Ana r gwnng IM acme Iv pe ip~, else. ngnrn rpine'sdwn bylMMeland GuIHa iQ RnDu pn ampym p11pB WMrAnb thin !. RrnardNe fp Ua1wNM llpdn tM Rapgning d con muenCB' pf ny al IM EvanlB a! p1Aa1. Bllwavibd m 8rc11Dn 1gA ~S nnl ~ I , r i~ ti~~T ~ f. ~i~ BRONZE. fiREE Ai r~FjFT" ~' Some of the Tlnest luxury tondominlums In the Rockies. Located in the heott;of Steamboat Vllage on a superb setting providing: -A magnificent view of the mountains. village and valley. •Siri-in, sicl~ouf access whit the Christie Lifts outside your door. -Walking convenience to fine restaurants; I entsrtainment and shops -Hedted Indoor pool, sauna and whlrlpoot.''~'-M:- .. -Two and Three bedrat>m suites completely •- Tumished and aqulpped. -Everything yyo~uu need for eosY vacation living. nee ham dependenc9 on your car, For presole informallon please call or write to: _ `. • Ski £ounlry Beal Estate, Ltd. Po3t UFFice Box AAA Steamboat Springs. Colorado 804y7 A::o,.;t.,,.: Department V x;303}879-9035 ablrget.nnlaanv Hnlee. a Inewa.r.nle Ip[ am Baron Ihel rneY mar or mar np bxe ar m OsPBCI ql anysning loot lR¢y mayor maynmtlp RY reason lany m}o rmesion caniainingmsny lp pls dr aner riedCwn¢nM r¢ceive0 by Ihem me p.awaien. al mh oramance. Try unitise antl exemption Irpm ladlrty Of the Pucnaaeranaanv eeaxielelnereoln.reuaaes exleM to IhCn part~era.Oeeclo H, sur-soap!. asa~gra, employ.q.nd Bgenea. SECTION 11. AanrssemeM BI OreixeRA. A fahyBpe d Tn'y Ordmenw mBybeamlmdee nr mpaiuetlW mneneesa {nee malrnmems awy edoylea ey me fawn cw rwil, wnhaw receipt nv ~I aanr aaanpw Cpnmtlerelian. but wile IPO wnllen canMnf p1 the HBltlen CI 66W m pgregatp pnpnpe! ampum of the Werransa end9aeland~r.pa1 me nine pl IAe aaoPlipn al auto amendatory orp~~ence or finer insrpmenl. Incmd;ng ny alelaner~g rclvntl~ng a.eurinae as mar be laaaae fro m. wrplae d raRmprq snr of IRe Warrarrta, prwged Inn nOBUCh ementlaloryor Oily.rg imnurnMl !hall permiS: {1~ Cnenl}rq Peymenl. A change in pN malurny or ~n Ins leans p! repawmapn a11h1 pinci ~1 er~ nlPefl lNearanw n, q~nnl Or eriy era 1~ nreVfml Pa ode in ca^nBwi ame witRapt Use rronaenl a !ha ~~~ B - ~ Western Pro exiles inc. p • real estate safes, marketing & investments - a We offer you sound real estate advice. Crpssr4ads East, across from the Vail Transportation Center ' 143 East Meadow Drive + Vail Village, Colorado 81657 • (303) 476-6544 affiliated with VAlL HOME AENTAL$ + Member' Vai! Board of Realtors:& Vail Multiple Listing Service • cwp.raupn wwn the cagrele eael end auaflw Ryan mmwenm pwPpn~nge erelarr pran ess~slanl eecreeary,an ar~lY al any Person ar Peraena nfe0ny wch rnsbumem In any xeub~ary B lu SnerNepppeNlyaueM1 bnahua~llnhed tlv a Peroon wPrerews purpenmglped ntlueiary w Preaenblwa cegNSy, fnepl pt sWltl~rsps. T11e~rr 6d0 ~ 1ehe10oby r ny Perapn e[¢CUnpg try nl es a nomw d aecarmea..ne 1Re s. ease na dher idenuhnhpn Iha.xvl. wsln lrr ea•e p ma oolong me may be waved er a cemucalewhlcn Bpi ne xNgw+edgee pr re.tlba, m loan IOry Ip [nB Town ClerN. aaeculetl by w e M e hnarlelal 1nm or by an OFRG¢r of a r from company. insurance ramgny or sl CpIpPHlion finer tlePpaelprY :an fpfne Townciera, m dram nrxBry Iwr pN4Br Ihorks0 [p Ie NB A¢tlgprnenb of deedaple be recBWep in e In wRich h PIaPOryi le eBl.Ihpsnlsgtl IAarBin manBw~atl lhel luCh Parapn etl to uscn member, enicer, rwlery Or find duce! bo evllspkvd le bNe ty By and on DeMll ar lhO Tavn lw lRe pl MptF~Ying AmmdmMl Terms. A Benefit olexh enddvpryfulure Molder olenYel v¢ducsion 1 he principal amaunl or the WarrOnla tlul fRe Warrants Rate b¢en poa/censages el Warrenb, or enV mptl~llcatlon iesuetl for a valuably CCneitleralon In }ulf thBrvnlO dllaflrg lhadB6Cnplmnd WUrenl0. c fwmily wiln low. iherwue rhengmag the conaens pl IM G, IWmunNMa d Purehaaen Toe Purchases Fbltless el WananR niCh mar Da requiretl Bna eny asuaa<e Irerpp Bra anger np nerem fp enr amendmem nn.elp.p ,~ .f •. wxr.nie; .hat a i:wu m rw fari.ni0 pr n wymenl al me wernma. r G. atxYl. ar t+Irlrlpne. Ho eel an I beaeE Iipert any WMranf, coupon o phppellm PI Ins lavm shell M fnmm ' ens. a a oarrcA pv any s!nwe of emu peftllnmp Ina[ele AnY bast Or I,n re1tt:PPlh;P Oalween Ins Town end the e of any wMrent d ceu Ann a regerOinA anY wch ppepVliM the nclue;vllY preeumep la havn rttwAlafM on Ihn ma1~nlV PAIR nr nlhl aex mereprunro,L Ins wnlanl or cnsw w~lw mronymml «eemnw In. rn olcblmn amer opl,pal~np .e nmarwue helnre Ins a nl Inr spat .~ a ~a nmonuve Ia°nr .~ .p~ICe arr~irne nma~mnp m !'lrn,cr Tirra3 ra Pa/tr 79 The Vai! 7Yai! -February 8, 198071 • Located 9n Crossroads Center East ' '- SeconB Level on Ma11 REALTO>z' NEW CONSTRUCTION wESrvuL-~,oalou:w~+erwnnnln~„gll~l,iample»Qnwlm«71 ,.~ deaoc In Moftelnom. This truee betlrocm 1vrobWh condominium .. "•3 ,I ~ Feoluesafireplacewith tiled negAh. hapen pgrrelletlvmils, llon-hr y ' ~~ 9aUtM1aCrt1g eCtl kAfpltl pl gbrer 2GUg 57UUe IBet, IrlOluding On ' ~Vr/ ` ~~ ~ i UMlrastred bp3efMM and OY61FIZed. heated. ono Ca gwage ........... ...................................5155.000 • '.. `t BUILDING SITES •y GYPSUM: Lot 5A I,'erlroch SobtlMlAOn..55 alley ..........517.500 - ~ GYPSUM: Lot 5B: 9enrocn Suncfivlsgn t 08 Ones .........9225pq "=~~~?: ~ I WEST NAIL, LOT 2d, NAIL VILLAGE WEST, RtING t: one of thy last '-t-- -c,¢*' eacept;onal Wesl voil lots. 5~'r~le fomiry hamesna vnih good views. '~ - ~+.~?,k ~- - r - sunWndetl 41 mp}Ure p-vrJen hgg5, AdJOCOM fo HghlOnd EAGLE VAII. SUNOECK CONF)OMINIUM4 Rreconstrsretion puang Meadw,5 .............................................565000 otglktde on the:9 3 ,.~......... 2'] bath ,,,,,,,,,,,,,,,yams Ina MGNIANU M[AaOKS LOT f5, RUNG 2: Ercellen}; largo, wooded lourplea buildng m Rivealtle Cqv}: Atl rrrojor appliorices, duplex yte mot is ready In corutlu[tion in me S\rmmer d caPbfirq antl~wer eUpsquae feel d West facing deck spas. 'PO ................... ............ S77Q000 Laleaebrudry¢anplglipn.7tas lot &F ....: ...... ........5136000 .................... - OWNER FINANCING AVAILABLE ON THE FOLLOWING LOTS EAGIE~YAtI, LOt 59, IsLOCK 7, RUNG 2:In¢ auplea lot viaws the 73th ' green ora offers an excellent building sne.2q%ecwnwim balance ' over 5 yeas at 13%in~~res~ per annum .................595000 ~. ~~ pFRRY CREEK, l07 b, ffipCK 6, F{LING 2: kits .d0 p4g dVPlex qt kS _ adlpGent to a lUtare re~epliartpl alga and psydppk5 m6 17(n ` ! ~e fainwy, Afor7g with the cnarTrpicnship gd! course, the Ixolecf r ,y - amenRles inaklde tenfX$. SVlimminp and fns ego85}fiOn P51h5. r-~ -~• : r. ~ 520.000 r7own with lNNanCe amC(}iiEd over 10 y9tr3 cl 72',58 ~~ ~ - -•.: ~ "::,q.fi'- interest perennumand bcAloan payrrreM far borance of end pi 3 ... a. s yens ............. .......576000 WO.QDRIpGE EpWNHOU5E9: Re-wnslruclion unfls 3 and Q gFRRY CREEK, l07 1R ELLaCK 3, RUNG 2: 7hIS prime duplex bf [s' ' FYCePlfpmkSB on NolhErorvageROOOOn krBVatl G]SlOUleln IaGGOtBC')an the 0thtplnsay. Fxcgi[gnt llnanaing Wpilpble. call rpr . ~ ! WOhorn crap- b&noane, 3 rwtns. very Kirge lirEnq rcom1.tm ... details ................................................S9e000 , ,,.:~:~~o-iu vlpwa d.GO~aleek vaeY. Hine trees qna Aspen. wiN, .ens z, ~ as - ~~1~.~ ~tMme. ye lcar,allMVafaolsaeeYau bWtralnnoVF',-4ir-'.: ~='. EAGIF.%A4BA~SV6pV1510N N0 LOIM.NeaN2 osClrBnnp~'. +. IC::.:~rx~t~rir'thhY-reCM13W m.d6 urw. PIW swr caaa!'Pre!~•~-•-., x-^p;.. mceallenf wew•s. c+enlYOf tree. cwaea~d..;wl>,a ens a/se~.•._,,.: . eCrnlrucflohpeice,d; i..::. _' ....:....................5234000 gntl nnarxetl overSYens at 7l%fnteresl per annum ..,53QW0 .. ' '~ ~ ~ EAGLE, KAIBAk SIIBr/NISION, RUNG 3, L07 25: Thii grAe 3.3OCre 10} Slis On rap OI the FUbdivis{pn Otleong an excellent building Site gntl e extroordinory vievn at me Now Yolk MpuMalrs. 113 down and the bolanoe Anarced aret 5 yeas at h1% interest peranrrum551,000 INTERVAL OWNERSHIP SANPSTaNE CREEK CLIP: these Ilnadous contlominiums must he seen t0 be apQBClpted TtG3 Praledt Mfersal€dtnead•NnragBS of ~~- ~pridpminir7m wmgrshlpwllhoul the high cO6ti Amenitieslncllrtle feMls aalrtb. IndpnfWtdoor pool, handbpllfrgCga9lb(fl CWrt gntl mgny OfneR. 5}ap Y+y OUr Orhae Or Goll for details. - - NAIL IN1N REiORr:Chrlsh.raw, Newyeafsand nwnyo}herfineskiantl summer Mrseks pWilahle in ttrls welE booted interWl ownership- .!' ~ prged. Rivas staling at ................................52200 MOBILE HOMES BENCHMARK; 72' x GS'. Tfeee bedroom, ivo ban wg3h8r/dryBrSq~ .. ~ dishy.usher .......................................:.:. 417 EDWAttpS:17 x 6a'.'fhree beckoan, one end onehol l bathsst 7.000 BUSINESS OPPORTUNITIES ' UNlr A-0: E%aalleM large srutlia Paewly retlecaolea. ApcraximoteFy ~!e ' 840 squore leaf. Wges!eepL'tpp lpN. view spLrtnPxer Vdd.9rrxry . and worm. VaE boa Scrtolte Shappln9 Center ..........575:950 . UNIT k1ffi BestbrNVdiDasSChorse Center TwobeWCOm _' ~_: and lD' elaN very nlPa video GCre wge ham Fvingloom gntl ~ 1r;~ mater Gedroam. decks oN d bom~ Iiwlproocn and bearam. A - ~ I, ~ ;1.. - ., ..........994960 ~n• . _.,..- . ; . - L~~ ` ~. value al ................................ .1,.. IMIT A•79: SpgcbOZ Inlae bedroom, txo use OrteygK boffl „15.r.;,,t~t:~ W I eondoalinhlm cpnslsling d war 1.300 sduale feat. fteaeMty .~'-" 3 ." fBM'btehad ladllOlrrg new DOTJgnng llOhlingnxtUles andcerpmlp~ cot , tlla bisfM, LMnp asp has beamed Heard celling ono ~;. ~ . bdGOtW ..............................................St1d450 .. :. Uyx /r,78: L fakaN d /. -. •etl itutlio unit cwrsuting qt: ~. -e i pppr~l rL ralQty a f I~Ijr¢ r ~ IoR Nittr ":~::- r l r dyllght ch Y rs<ssbeamed ~ - cothatl and r:.__,,.;..~J:'' lhmlptrout. _ - ' uPlrr~aa:rlueabeapantwoaraon~nalbalnc«aanln;~min ~'' ~' Vdl aos SChpne Sttopping Centel. tofary rellrblshed ...51ty750 -. '. ~~ ~ ~°~. - ~ I ,z' >~ „ of r:'- TO&A5 wArrE's RESTAUIEANT, EAGL - y ;~~ ~. _ kstarcnarsge Of lnlerstae 70. tree lesrc r v ~ R _, _ F7ime Ribs o+rd }IOIIOn tliyhes. {Vrcl ' , •. ~, .. -1 rwaable lease x+2800 square feel. '•~ ' gllErlYes afNl tumisnJngs In this 96se xIGNIV DESIRAaIE tHMIE%: MIM edndltgn pgfidly Rrmishea operolgn q Ir+orrev rrwkel nov mQ ExcellaM snewaM nelghboRwod CorwanlenNpvoilandWestVall ~ PraitletlW7ne adelopmeM Or ne shapr3klg LNing rdgm witn rased hearth feeplace: tllrurKl aep.~ ana the many Eagle aea dsta conWrtient kitchen lhiea ...,..,,.......2 bons...,.... .S 50000 urrderwW.ra.,r>er wilt cortsldet terms ppvid Fates Frank Mayfield Bilk Sargent !Norma Sturges " (303) 47va OCOoI P~ 08ff~iC~eS Box 1292 __.. _- i .y - • • • 1'hP Vai! Trai! - FlLrudry N, ffARU 747 ' bagcnur., pwmmm gNislp .ut.mrnt. ofrcE IN FULL mMlem wy el r..aarr, rsaq FYDm PIf,¢e 7! alnan unemenr a 4fbr,nq orouMr lx gmvecnre burxaanM WnranN Tpwl: aF YAIL public Notice ~ Public Notice enema, pietlyla m plMreru nay ar ma SyJ Infprmat mn tray .alemary Ind Refiner E. sl,kr 3aymen!'Pr Ny wYh pHtpnron.acr10R 0r Wl{. 6ilwminallOn 0i rinanCNl led ~Iher MaVOr rEhh cgletlnpn el .nice bra bun parraa. anon tvminon camxnoq IFe ld..n a trap ATTEST. PIIDLIC NOTICE IO ALL NOTICE OF P119LIC HEAAIN6 a0rer11a1ML+ne Trnnfleriea Fund unlwalM ~Warranle: Cdleen M. Kllm vexgpHALpROPERTY TATPAYlR@ COUNTY OF EAGLE, COLORADO T n Lavh¢~I mall mM+wnee prPrrr]e W Itl OIIm41 61110rr~anl yr Ol Mring Clltulel !Own Clerk Npuse Bnl rW 1115 emgtea In rg79 has PranaMe al [ne Tarts Nplmnp Mrym TMPrOpllellpn Vln Wxront allprmgOrOChure pybn Ovancee th¢tlaedllm rqr Perwnel PrP TM EagN CaInIY Florae Gpmmselm enq P .only the payment ql enY wch Wenanl. prahml nary all,C~II alAlamant. Pfliclal ahadlnTM Vail Trad en JaPW ry 23, 1980. peClarMrns lp Margin 15 InVt Aprrl t5~ Ia,tle PUplrt Heanriq hegmnreng Bt 700 pm.an "WwpM. Or OInlradlgxlP eallw an aclwnp nlwmBnl. ar glNnnn99 muter, Ip lnB We vl -'----~--- PrnaIIY AI h! imppaea an ll! lala an6 Februee~20, 15gp 5lA~del the Heann i n Wn far ,la CdleOl,en nos een MrepolM wrbapacln•buyere pllnB werleMa, Ivdlnq. ~~ nrelurutl declaranend if you re Mlm 'Wiley PUD i~elglalle welmvnep la eUerWYM Yawn Cevnnl arrma ll m me neat lMxelia 41 en W4 hmllatbn eu[n uen by IM Pumnaflr pubiic Notice buainwa end d0 nCi receive a tlatlerallpn _ lfle Tawnp lM Whllc aq lp tlq an04rtlara ouch one llf nevclNn, ll w1y, Antl °pleaw cpntecl fhe Eape Cqunly AeeBtwfa EAGLE COUNTY peyymenl YP De metle if! wairOnl SIIl. Tna aaaculi4n d IM @iu al ]29-T311. 0x1101 PLANNINp COMMISSIpN -p.pNagnry PUtl+N 1h0 mRC0'a g1lM Tawn WlryaMeend lee eafa, wfuanca. anp tlelweryW NOT{CE FS REREDY GIVEN Ilia! JeV N EAGLE COUNTY ASSESSOR dy Nnnxilw Poytlta~ ere Mrabr eylnaruetl aM drrerlea lapelBrtnm the Werranle [p the PmcMler puawntglM Pelxepn, ragewnnn its BS_Candamrnmm P ajuch preemanls antluFe nlecna~wceaserY Prpwannf pr tan Ordlnmc+. qq UOlifnetl mThe Yail Trail Pupl'lllatlin Tne VagTrwl on FBWUU a, 198p Rr epgropna n0 e}latlune IRa prpnsiPns vl E. &Itcnlpn. WMnm'er Mlain Ilia lvwn~f Aslaimipn an0 HNIBank dl Yeil has applied pit Feduery 8 aM 15, 1911p Y It11 prdnlrlu Antl tp camdY w'IR IM a radar le ralellae la.lUCn praWivp/haP be lay Cgndnlvnel l3evP@Irltltteall4Weapaneipn `~-_--- Npuramenle al low, ~wl}Ua~nq, w11Mul tlwmW la lntllefe M(~ILCCHaera prlha Tgvn I the ezlallrg FIraSBenh gvnamq Iecnad m -'------ Ipm,In,gn. wMlnp w e4pfb10b Vr t All d ma L4I O, Yail VuropO Filing Nv. 3, which ie Ina - LI3 Prinlinq Wrranle. TM pnntirrpp pf IM COrlh191/. IlpJalbm, Pblrpillpnf antl Wbnc ACCPmmgdelrpn Zane DlaldGl Thi3 Public Notice wlrlam4 lnmvamq nits VNWn pI IAe TOwn epwlmvnls by e~ M b0npll d end Omer vvncatian is ma9 an ACCGtlBnce wen Sectlvn wnC'llMpmnnqupppo as nluph Werranld p1PreMmlarlnebn0lrtgfthe TVwmm~tein¢e Ian dtROTawn Vl Vell MUnicip•ICptle, pro akp~nlnlpn ql DaMVlh Nampa exam ana! bled arts !nary lp the heneHl0l In APUdN HwNnq will be haltl In aupreenCO epx+e VAATEe xergnT qe ePxpiTlOx lwrlualea Pr.falic l•YeieNaWl f!n I Y 41h 8eclfora fabep}iha Tawn al Va,I Mvnlclwl mau, n„yrnlan Trawxwrl aeFUa. dots al. duly ennnetl by IM OIAUr hoard, dialdcl, comm,sagrt eplMntw, Cptls pit Febrmry 25, 19 9 0 11 0 00 p.m, nelpe TpwnF ~~INGninretw. Tnr l4aullUn vl epth dgxmy. Inetrumen1a11tY ar den wr Wan ~'-drill VLs~ IN pwabm W wham d Ip wMCh Inxa ahlnl M he Tpwa al yAlt planN tl Enwrgnmankl la, y,. awr o. OerFVlulae ii may ba rwwnablY legpre0 df Irdnfl0ned bYar In iceartlenee with kw Iny pamm~eal9n. Sold neallnq will M yuntl in me ° Mha Pu r<baaer, nlnm lour olio. la- Yen Municipal Bulleinq, Hwre.,.s oe v.f1 q ngnt. power tlUly p1 lee Torn or PI na ~r..l..xa.r „x.n,~ria 1 Tha ligNinq 4l the WvfN11: r.fPIGRVBfvCClllara ll any. the P.maeallOn al TOWN OF YAIL w'• ~V°'rr'eral• ~ilAatesar.eu pi151 `~`rs•'z "ei`. 1514 Ib1 mslenure lea Idenlnr 41 m. dlicialf a! wMCh if musfary pr appgPnAl! m ardor b 6EPARTMENT OF - r•n 111! a '. PlY wdh pray lVCh cvvemnle, rtlpJell4na LOMMUNITV DEYELpPMEN7 LC raw A. r.w 4rer~my'~~w4nwx '- ' ICI If ,n ICCartllnu with loci, ma abwnud Pdapllipnl, a9lumanl5 cr alhx PrOVI@lanf JBnwf A. RVbIn f. v.a. rrrur•dx:x- ~ ~ ' lgigellon. p/ndnp p Ihruuned. afllchnp IM hxagl Zpntn Adminielretpr apllPily PI SM Wlrrlntl: r, Ri~lti In8 r111mlMlllfa. Exupl ah Mrein g • ~'an~. ^^+uB. aernrown, .v.e;e ww mynvuwr, ' (tl he tlMwal pl lee WarraNl end lM alMlwrll es PubllanetllniM YeilTleil pit FeMwry8,1@80. dAawane ewnkwwea.nUw.wW W.maauex. , I T plawly'pprmimd nplh,nq Mroln vu. Brat „alwwa5aenr _ pclrPl Pf 1M Walranl 9urc4p0 prkd. sxpr leetl p lmpl~etl li mteneetl ar olio!! de --------- ax, nvvnw wuarA m.rwr xW leS TneaelmptwnpHNarnewn]MwerranN eonairwa la conlm ppoo d IP yive la anv :. iwaax r ~.warx _' ~ - b leWral income laealrPni pawn, glhx !lien lea rprp ana lea MOllfvra a•o rx.•~ux a.w~e ww ' S9 Tna rlwAirlgpwengYl nmemanD, racneu. tram rime tP bm+ M Ine wenflnla end IM ~elr o'wM~a r+rnr a+rrl . ' ' ' ' ' c.nmc.upna ena wanantwa, lay m tM puppna Nnxwntq ~wrle~mnq. e Y ht, Public Notice _ •,rlrnxal.a~~ . - fpr dwarrflm eN innnmmla°t`immencl. and re ally or claim unanghr reawn nerea4 ar lam., awl. w..•.vxe.w "' ' ' - plASlatanwnluncamnp the tlllcbaura vl eny COVenent, caltlitknpatipulalren hxeoi r_+wr,ve,a ~.uuhr. ~ ~ - - - ~ ' V1lumabpn prodded rn enY warnrtl 4lfxnnq AIE IM c only aRWlanpnx, pY6m~nIF aM ~ li•w. rw ~ .rw.rr„r,v,..e,a'w.~ir , 9 manly Mrxncamemw WAna an WnAII rraa a~~a~~ar~w~~' , n}Ine Tawn anelf bra fir lea a0le Mda.tlNiva nr..uu ~er aaa.brura•e'a~ b+neln al the Town, Ana InV Hpldar al enV of a ~r mr evrrunuaV ' 1m w ra°N Ana IM eauRpu IMreunta ~iw,. r°.asere a,maxw,a~r.. 1n, ~ •1 r patulnNq' sa NP reeou w NMI 60 nay br In0 wrmimt o1 p.m.M rye r x vw,ur. r ~„m~~~~a..~m~~ tray Oaht serrige ReglAremenH pl me womanly f orlar enY Clam bea@tl 1M1epn pr PlhOmibe p 4.ss'.ala~N few ge.nrr.n. ra ~ VpOn tllro OldmeneO AUthmuinglpxr nauance x e.e..na Owx a,x vdizr waM.rwn w as ants errwa P anygmxprdin0.nCp Or lrnhpmntpxlalPlnq f,.ereBq a~wpnlawnmra ar rNlp laeawlw. - I9N010. ayainalanyiMivitlual membp,Many Ndvm+na aaw.rw ben _ ~ ~ ~ ~ - ' .dhcarPr Oth Negwl Ol lnO TPYm.plil. PrnBnl m. pnx..n weeal'aw 4r SUSVra. pIIMI nreCllY or - d r/a[IY tnrP Ugh b or CnSana pwi rl Mr lr xu IA ~ ~ - IpeTown qr dherwlee,whetnar hywrlu0aF0nY ml. rare.mrr error ~ ~ ~ pp nal lvllan, anlUlO Or rule ql Mw. LMNer xx. rnwr~,. ru xrigr Arrrw r ~ ~&d0 p~grekn x av ml mlBrcenle4l d.nr pennly en Na.ul r,.<.,w.,w:.. rw...,,...,.b w,,.,,,x.ew a rr,.e,.» : 1, al alMrwlw. all wcn~lwpmly.ll AAY. being Or %n nr l1.~,y N•wlr rwr l+r•ar,.4p wxnauvA lrawy .'. !M ' InaaegPlarlcs Pl thel'+awema and m a axr d ar, rrrlr. Iwaenwwl~e I°~wm ~ b,;,..ro r:.,r . . . . Ine PPnamerodm ar lean nwanea apleNnr TpwN OF vA¢ n4aW w,rar~.Kee wr,M rw aw.nN . - - - . - Wakwd Bntl rNe.wd DEPARTMENT OF O. RNI@ullvn. WII ecllon heretofore taken COMMUNITY DEVELOPMENT rcat•~r.,n~wnvI.nanl ra,a Lr arwr.wrrdwr e. n,~cq 11 1 Vncpnnatenl Ith the gwleiom ql thla Ja sA, Ruble Orddanc•i by Ine Tpwn ar lid dlCarfl. Intl ZpAn Atlministrel ~ ew coney ~r ~r - - n M _ plMrwite by me Tpwn eirtclad Y dw ~~ 111P Ol+ct. TpwdrdlMPrelaci end Rlbllnh~lnThe Ya'ITrmlpn February81Y8V Cm.,,a r~ir~w. u~w,4r. Mlv ~ra~ uey,y ~J,~..,rw,l som IE Waueml. lawxtl morale end tlnmery of uarww. _ I i e ... k.JO pm. ~ IMW rantetwlnnpy.POae.ae ena lnaleme _ ________ as a.a.we rent, '. _ _ _ p~,~.~ 111 npraby is rabhaa lnprmna lea wnurmatl .xne.ar,. mr«nnrdn,rr rr.4.rrnar ~.,.,,., -M Fwflm~k el qu w. vu aulm to me aa'i rota u`a`raxir'~ ~'n~l~n.,r ae ~M1„ am- ~ . . . . - . llp,lgm Fe[ermule~lpmlUlBeI PAWiCOIfiCINS public Notice 4wx1a,_lrmr..r~a,.w°. ~ ~ ~ ~ ~ ' : ' Acl. Pall t PI Oruc1B53 d lals 11, OvkledP '•''^r'r sa ~~'•^a {.7 Reviled Slnu[ra 197J, as amendatl. IM Meyx A..wr. wrnon an.. anL aweer Ara w a..a, '... r+q The, 6irl~rEa IC Anp IM Tevrn ClerN anon Ixmwim, anp in any FfOTILE OF THE re ry a weer a~army yer.r r rnm w r.,w,r.m s~n em,wrc uevn x,nyr p,wpwa r y ~ a 1~~ eWAI prior w InB IIdR tlq,. WananN Ire FOWN OF MINTUPN .r+w •cwrw wan~,r,rrm.ernw r.v. ' HQrseie+Kan aglweretl la lea PUrpMrx theregl Yi,ewila the MUNICIPAL ELECTION ur ~Invrmwaxnwoo°L.,,m,. - al0r Cplalada 80c•rMry Stela IMIr mbnWl Tea TgwnolMrntum MUniclpal~~eelwnianlabe a~~`"•"nr "°"N °"°~'9 ~•"`°A°r' FNtlaT•Twaday, F+bnllly 619, augnAWMa carllbadby tmmuneeraam. venpe nNd an APrll 1, 1980. Nem~M1i0n91ar a1nu 4ers vr~ivwm nwnww.rawrrr.l" Si11a „Om o]IM bmI mOvlOe ana ru ln~ n table Fecnmua $Iq'mlwa CBrtlliGlefgraeH MOVar l2 VaerlxmlaM}wrallluavrrruateM Ym°'r„pe~,aea~y°~•°l '•°"rr""'°v„'•.trm"rr°'."°•'"Ir°'y ap qO lMeinmxn9 Of Iola YeAr - Ine pYfpaae. (AYeda lBrm53wlll beppan. Myane interwletl, T lerna~ eirrW4swabanvr /N0.N]rcanlw.xaublNm.r Xeeperw °n Po yailaNd! fpm IIHrNnq JaAB Fonda ertd I. Or4mRm llrrwalaWw ml.l f]rtlimnga h. ^leata pe rtena Vnper, Town CIBrF, Ip ,.ywy.l.4.mN•aawl _ 1_ :Ng81r1 Ramer +NayY hrmpbn ntlakpcPnalltu M.akpalatire maaaureaflnn Imlwaun pnillom. Pelllldin may ba picl~ ilpr+IS~pw~rs~~nar.se u~en.y,.,,.,,pmrwnwr rrmoenau4.,nea1 1 n ~f4.Mp arorWhgYrfratl Pi PnCh[nq°d~`pl M145rrl Mtlabx enY Pl trm wn.anlaara ~aeuetl. WFOhru4ry 11 anddaadlinaluelreulennq .aye A.g~~r~ N,'pM Wry 4n an a v nom A prdlr,anca ahn4 gpnalrtvxe An',.rrveaeb. Pelntcm wdl br FabruaN YR lYeu ~ "` ~ ~ " 'flMthaT bean Pum 1411 of a•u~pf. van! apnlaGl Mlwp+n lee Tpwn lea SM NOMWtt .r~YY~..r.6v ~', r.. - - ~ - ak~ 4@ ~ ~ TOWN OF -- ~°~1-•' M will le! IM ion 4e amp 1M MI Mpldlry 01 Ina WArradla and INIe Ordlmnu, hwy~a 1 Nwba Jane Mari a Ipupn- WbIKI k MB plWlfbJla d 8ac[bna 9anP 1s f I41rp TV rpoNOr who !Dina him in what _ MINTIAiN DadBna Unger - ~ ~ ~ Tv%n CfarX. hprlAl f! BnY VSerre la ere In feel laaueA,iM11 ~ rap M am PI IM cope! tlpliggnllVl by and shell lemAin Irrlpadl00k veil! -IM ma tic foam n In Inm hglolY. Iu S.A.. Warranla RI tp eP OBb15rrwG Re Wremente ~ Pubbeh0tl In The VOiI TYflil tln FBdue 8 mW 15 1980 ~ g ' @lgl~ shH[w lutlyp lid.cpnpaka endd,wnarq¢d,aa ry . . p aYx. f '0nt. tl• W I a l h w mr U1MMS. Ns IMrecl, l in00a1ifinnl herewllh are hareLY ropeakd IO pubiic Notice the aAlenl anfY 9f auto mcpm I1Mpy. TMa -- repexlx Nall rpI pa tamttJBtl Id rev va Iny i $ MlblVUpl .yyllwf Vldn aothar inalrumanl ' INY]TATION TO BIDDERS , . , i Or oral lhvregl, nwvl WVre rapeNad. AYON MEYNOPOi1TAN DISTRICT if. pawrawury. a eny a¢cuan, eubwtlipn: ' Pn/proPll, 4lauw Or amx pgvkbna pr this DRfueD WATER wEu EAGLE COUNTY, COLA RADO 4VpinBnC6 aRaei kr eny tenon as Mltl to M I~a e^ld dr nlprye@pla, its IrNnplly d Sled Aids Sot a tlrilletl weler well lOr Avon Two SNOW! N{ghlly a1 7:qq and &~q fOrceabiblV Inple0l MIA n41 Nlecl eny Pl Lletropelnert pisirict wiu M r000r¢p by m0 IM Mmain~np ae Plipne. aVbsectlpne. dlrlprapna, cleueee a prpwllpm 0I IM Ordinance. Avon MAlrapdnen 9111ncletlMVCihca. BOx S, Avan. Colorado A18Z0. Vn1u2.gOp.m.. Fed Vary n9. igf0 1., PWBa 1N+nng. A public Mexirg 4n tnia ~ Tnp a,0 prlyl wnl rye rot Ivrmsmnq ¢I an =, T~^ prapWOp Ortl~mnu eneil be MltlW eTavw, labor. melrrlals. agvwmenl, I4VIS e.tl } e 1K ~~ Cadnpll el 7'gq Om On Fnaeyy. January IB 9A0 al Irtp Vrl Manm~ et 9 ly I Y I Pental ae herelnaher descrrMd m me CPnmecl ppwmanta Tne work 1 ha tlvne . p ing N Slid irWa FIpmA E ~ y' ry CprOYflda, Ind nis MrabYxdaretllMlnpllgael ~ under coil Cpntraal krlq,Vae51n0 dn11ug pf a° TNE JEAN is an aneellenl whlgk Ip dlx anp nwdrlg M pVVan as roquree 0Y law. 'Jg w4~malea W led dap wa10r wee Irwlutlmq levO MaRm: d la w11d antl drpSdyy `amltlY ''TM IlMy la ebqul pdP blACi MTRp1YUCEO, PASSED DN FIRST e[lxn cepnp, antl acrenn. antl tlevd4pment. leaf pumgnq antl O,aln}ectron ql the well. , - „MlMrappha wit who keyee home Ane REAplNO APPROVED AND ORDERED TM1e proposed Contract ^PCUmpnta I a lye•Imnchea aqa~ beeeme PUBLISHED QNCEfNFULL THIE/TH pAV OF ihlpnM e'a p !lod M I JANUARY 19& 'gang pl $peanulipns. Iagetn0. ilh canm r n pva. The . e a S+VV 1 ~~langydq¢ N M Inr reuncn side ana Ibe ct Ons Iv Bitldera Wu4sai. Bid BqW. l . TOWN pF YAIL 'Jwgh! ere ram Bdyy aauauyy atrony, bus P A ero me 1. and Pprtprmance eontl_'mfly be n dal lM arbca pl lnc EUgmeOr NNtlrva aanav E Sher - fregaLml. IU.S.A, 1@191 P6 McYCr , jnc T436 WnI 51n AvepuO. O¢nrer. COlaradO ATTEST. - CBINiM Nllne Town ClvrN Bp92e Right is rene.vntl In Ine intereal PI the Owner. AVOn Malrppdi,en Dlalrict Ia relecteny Bntl ell bids ena walvp enY ml0rmdnnn ,n Ine Plplilnatl In Tnp Ydil Trn~i an Januar 11.1@80 r b~dsrBCeiwtl,- Brtl aecurifyyin me empunl of five p0racnl of _ PASSfD ON SECONp READING h5 Oetaued lnl elnsllum Dram Bltltlersr old, sa ' -AMENOE D. AOOPTE D. ENACTE p' APPApYED ANO pop EREp PUBLISHED r gyON METROPOLITAN DISTRICT r~ ~ ~ ENII[ SPEC1Al i'H15 WEEK -~ FLOAT G MASSAGE ~ ~ ~ ~ Pualahetl in TM Veil Trail an FeGuary I,Serta t5, 1960 . I<D15COVER.TNE NEW VAIL EXPERfENCE! 1 public Notice ~~:_ ~ NOTICE OF PUBLIC NFARINO ' ~ ~ couNTr pF EAGLE, COLORADO ,, RQATING the newest method for relax#rrttttaa and TN. Rmrd qr Dq¢nM Cammi55ipnera al . "y rechorgingyourbodyandmindlnoneutrol5rlmulusfree' EAga LOVn1Y II Mltl Pualy: Nearinr1gq heglnningeltn@aDa.m.onFebruaryF1,18ea ' ~y eonrral~ed enVlranment.' The aubleCl al fnB Neaaing wi 1 DP IA pmendmnAt Fd lRO welgn copal KClrpn Cl Tha 4elley PVD egerding th0 Ipnel,pn pl tea M ,J~ 1 -"~"" Free dCm17r15tTOTlar15 '~ bUlltllrMl T public a invited IP elleM. _ 1 . let ~ ]f RJyr W' lj, ~ ' BOARp OF COVNTY COMMISSIONERS pY J°hnMfO Phkllips ~ Only b12.pQ Per Hour i7 TNOflt41 CPUmv Gerk ann Recprtler WbIMM In FM YeiI Trait an Feduary 8, t9Fp. ~.:- ~ ucer~s;:o r,rwssa~~s tiow Avwll ~ H~ 1 s s v Doths ~ ~ L'U~ C WANTED ,~ ~©e sales ~ O ~ l a G ~ SOON• n g d o h 1 RUCKSACK S~ ~ J~l ~CIi~X $ ~ T~~ 476 17 lira°o~4io~Piuii`~IYrre. L e , ^ L . - 4 d ^ R fi S ~ DPP Arson net. unNler anlesP ad G s»wa u+s uggr'fle ' Crlxisrppds5 rag Cenrhv h k h 6h ~ o hie. Hnuxlnl(Dnallu ly in e lre ~ ~ pps l r O~ Oeneal ~ Free PprMing ~ lpenPjeli. PIPaaA ap 2RR Briddrre Rt. ~!, dPen~ Neon 'til 1600 P.m, 7 daysDV.eNs ' peraap al r~fE~~Ewrw~~~rrrrr~~~ll~ a~EA~w - ;f'(7"fd'sY:-r r .i'i .i? a :•.... r .. .. .less . .O.4 4 .. . ..... . . . . ... . . .. .. ... . awve nw~ `rr~uraw.rewra.uw- w.~1 eeW p. ~lathw ~1-1~e0 N41 ~'trep~ r -__,-, ~_. Iw]ISfi-a0p0~ - r.l ew.r L. a r......,.~•i~ zm['4M•ark. wit IIJ'w •-aaar.,,•• ~ra.r .,.~r •r w w r...~[..u. .en,._~daaverY 4.. tea. neeL 1 J. em n[re. .. Public Notice 'COMa0Ll4aTap aae4el Of Cpx4lrlpM inerap Vnl brx•Nr4laMlelxi,rr :. IPamr rmoww w 11r,a.+pa1 ran e•~4 ar nnam ~... r.,rn .. - ASa~e wr,.r,... i~°b.f. pi.,rbn..m in~w la °roa..re.r ~Mrwrererw,r •wtar'r. 1 1 ••cwe m 0 ~..wwewaarre PMn~'^aueea~ a, iH Ua~paswr... ~ n ~ "~Iwar~wr'ww~rm. rwn.ww.n..av ,w~ e arrow rra. ra tray rnwawmef.a ww,•r.w-nnnw~ . . ~ ~ - - ' ur..uaPoraww.ra~i..l ~ ~, ~ ~ ~ ,lay ~~~&~4p ~~l~~en.wre a+a wnramu.yrrrOe ewA ~r•r•ir ~. ~. . rf. hw rm. was slw,ar brr enm•r.. ' tf ummr,n w uw~mrrarq rw~enna are..ra+wr rrnr.ya <. wry,,... xwnar w m. u.r w reaw^<rr wnar~..r ~ ~ ~ ~ s oxwr nrx. a mx.~r ~irr. ,.v .a. ~ ]e if isawait. ra,aa'auw wrnnro•,rw mswnwr ~ . 11r•n••4nr•wa aenlhd •rrour. rwr•4w,wcwtaxrx ~ ~ - - 5. e.r.r w u"~w rut ae.w,r.r .. ' >on.r.rxcr~.,na<a,r....~aM.,w.~.w.n.a.as.~ :.. e.rr.r~gaw,wra.rw.nurw.nx,a~w. .. ..... x ~°i,~~.~.p;r: mwa~w H ax,a..w`rrr.~.n.rr, "fwn] _ _ __ hww.dr.: ~~ n. McrbW waa.ewr W ,Iwar b narrxw wrran w. .. . Bray Iadi~ w keW+a aa•em W w44Y,N . ~ m ipeN wnanlef lrrauBx~rpmerxl tux re eaaxww nrndwwx wa>y ap _ .. ar . 1~ • w r~rr are,orp ® a r,rr 4.wunsy ®~wr.rwl cwxMM M'v ~ - ~ ~ N ~~mni,.weu •r paw taMw Mr+x - N M d •rr k m.u av,. _'iq~.wu.rmnxi awe Bran umu ~.rr,~...4a. x,,;r in ft n aw.5r ter. d w,.o< v l .ale~4•a~a wm~~n u~.a~n :.w.~ r~sr ~ ...w...wn rwn<+,•,w. .a~.w.an..r,.,mntwa.~.rrea.ww~ .. r~:a ~:r;.°~..~'..:. ".+rr.w.:...x~: w~..~r,,,w.a.a,.r w,,. Ne..rm.•,e raw w ranwl rn rrarrr.d Arwiu•Mae4rtbvdaNFM rrrtmnrrY.]I~rAar Ara.4- ar Yom+ka.••Ge-8nun a. ro.+'rl w ~r~:,~..rw.~~,r«naarNwtll.a_r_e.....1.».=,.wx x Ir~xa.a. x rx 1. rae.a Y. a ~,~ h° .rw.. _,~_ ,•I~ _ _ _ - .,....ar,... i. .. ,.~,..,. . rd.~ .. ,.d.ro ... ."...~°:.':...,...1-.~.., ]sum-.. w.i". s.,wan ....:.... r.m_ ...,.....,, 1p..._.~.",."y i~a :v.:3i; --..e ex .J.f a.rr. mLrr. -.,.... .. a..4...... a..........r.a ... .... r... .r. _... ~1 T~ • • • i a ~ ~ ~ ~. Q } 3 ` a ~ ~ ~ t a ~ m c ~ ~ O ~ -+ O ~ O - -•C. ~ O Q _~ Q O ti (D j to O ~ ~ ' Q (D ran CL ~ C ~ ~ ~ O Q. C ~ d ~ p ~ o c la ~ I Q Q ~ I ~ O ~ ~y ~ ~ ~ ~n ~ L r 1 CC, o ° ~ ~ t~ ~~ ~ ~ n i ~ ~ Q ~ ~ ~ ~ ~ 6 7 ,[ ~ ~ {fir 5 ~ ~ Q '`: ~ ~ ~ ° z , ~ a ~ o o ~ ~ ~+ I ~ f~~~- a Q O Q Q- _ •O fl /~x1 ~ C Q a n c+ ° a o ~ ~ p ~ -~ - ~ ~ C ~ .p O cU O ~ "+ (D - U~ \_ ~ ~ ~ ~ ~' ~ m c ~ m o Q. ~ o ~ -+ ~o~~~aaa~ ~~aQ°.-~°~~~m n ~ O ~ 3 o~~~m~~~'O Z m ~ Q ~QQ ~ O ~ p ~ ~ ~~ ~0~ ~ ~ ~ (~p ~Q0 ~' ~ C~ ~ ~ a a~Q°~c~Q~o ~ mm m a~ ~ ( 1" J` ~ O ~ i t . ~y 6 + ~ ~~O O G C Q O D m ~ Q O~ ~Q-cD ~ ~ -- 3 omca~~mm~fl ~--~^~ ' ~ ~ Q p~ Q~~ Q U O to ^ ~ ~Q~~rom~Q~ ~ O Q n Q~ ~ ~~~~ m ~ ~~~°~y ~ ~ Q. ~~ - ^~~o~,m~,~l- ~~ ~ Q.`~ro~oo_ a ' Q Q~~ 3~~ Qa Q 3Q ~ O ~ lC I ' ~ ~ --~ GO(p~ CN~.~ ~ ~ ~~~~~ a.~fl ' r ~ g Q fl°_a-oo~a~ ~ rn G ~. C O mCD N o @ ~ ~ ~ 6 ro' ~ c°a ° ~ o p ~Q~~p~'O ~( ~ "r 3 ~~ ~ Q~ ~ O~ ~' Q (D Q O~ ~ ~ ~~n ~ ~ { • 07~Q000'Q H ~ ~ {p ~ cD ~~Q Q_W ~ r. Q~Q 7~~ ~ ~ Q h (p ~ ~ 0 ~~ n O ~OY3~ x O~ -- ~ c D O~ t0 ~ ca~QO ~Oa ~ Q S~ ~ Q ~ ~(Q ~ ~(Q a Q a i m om m-~ ;oQg~ Qti ~ ~ T 0 r a Z °~ ~~ ~: qp ' JV T)re Vnil Tait-January?8, 1988 '. JY' Y~ - • ' CONpOMINIUMS PAIL Zt: Two bedrgama, toff, three Oetha, top 11oor condominium ngx! le lifts, parking, all shopping with nice views. Total renovation and decorating underway .. . . . . . ....... . . PrtcB retluoad to $220,000 BANDSTONE CREEK CLUB: Tnc firer pr0lect developed in' Vait laxcluslvely as an Interval ownership react;. Located next to Sandstone Creek. overlookirsg Vafl.and Ihs ski stapes. Amenihea include [hreetennis courts, inacorlquldodr pool, handballlrecquelball gourta, saunas, whirlpool baths, and conference and maBting rogma~ E%CEPTIONALLY WFLL DECORATEp: Two betlfoom, two barbs, on the Vail Golf Course, for the dlacriminating buyer ...................... 5200,1700 BREAKAWAY WF$T: Two bedrooms plus loll, three bathe, newly redecoretad end refurnlahetl with private Indoor parking apace ..... ,..,.,._,.,..... $170,DOD FALLRIDGE: FcDr badroum, 111ree bath, 5'xT sunken tub with fireplace, top floor comer unit wlllt excellent vlewa~ .........................: u:.,:.....• $240,1700 EA4Lf-YAIL TOWNHOME; Three bedroom, Iwo antl one-half betft plus utillly room ......:.... .. S12g,odo LODGE A7 VAII: 2 bedrdom, 3 bath, south facing condominium. Excellent Income producer. This unit is a must with IDC81iOn ahd trBlnendppS , amenltiea .......................... ::.... $260,000 PTARMIGAN TOW NHOU$E: 2 Cedroom plus loft, 2 bath, large utility room, separate dining roam, wall malnlafnOd complBx with swimming pool andadal}ueta parking .................................. $170,1700 b ' ,. 07HER `' . EAGLE•YAIL ~ DUPLE% BUILDIfMG PROJECT AVAILABLE! Builders, Davelopera. Investors! All Coumy and Dea€gn-RBVIBw approvals completetl. Archltecta plena, soil testa: B.Ic, ready for buHding permlll Owner 1lnancing available ....::..... $98,500 LGCALSI eeaufiful double-wide mobile home124'xti0', t,400 square fuel, 3 bedreom, 2 bath, utility room, washer/d er, worad paneled inlerlor, gedar shakBs Bxierior, Stone liraplace. taivBr frontage, beau!)ful vlawal Ed Wards. AeBUmable loan .....,.,.,. S44,DD6 BUILDING 81TE: Sunny duplBx tot in Weat VBII.......,..' .........................:... $70.000 - IN THE CIENTEfl GF ' =' VAtL81NCES987 ;^` ;~ BYRaN~D$ROWN +~ r,u.~lavx a4r-vau, ciD~ Corner cl BddgB Street and, ~~~ }... 1616ET~ ~~ Creak prive. • • a hyeere. BMHS Wrestling Results j51 ~b rear Ia the pnrpoae of ~~ Oromance, ,M Iwelre 1121 m n h• ¢ port me am our ¢I Pecemwr m anY eleneer year and end,nn Pn IM mWWm From PaKe 30 4•r pl IyoramEer d me r,¢xi wcceePrq u~m,der year hpawen Tourney 126 16x. -- Frank pinned ForsNh in 161 C+PuI lmproremenre ens D agape overtime, F:Ino, fhe evec,M fur,a N¢sled br lie°•ww,pn BMHS Wfaedera - NO f me Taws ¢doplea Py the Tpvm 9B Ibs, - r=.edie quintana iBMHS) 132 16x. Leonard Santloyal 18MH3) Cd¢ntil nn January a. 1980, mle wAKR d,e pVnlled Maesles (Sheridan, x11:20 hatl a bye in the lust round Pktlpetl Sq+• ru gewnr4a en tp I•. 88 143 - Etldla Ouinlsna (6MH5) dec. 132 Ibs, -- Delferrere SAocky Ford) dep. -deposes. Sandoval 8.5 Ill Charter, me Home RuW Ci1+ny et me Yeeroux erush}1&2 ~ Town. aaarovwlrvma Nectorealme Tawnm RUCky Fordl des ae lea. - talmlch 132 14s. ° Tnmb ch dec-Sandoval &2 ~ ~ Eddie Quintana 9- ~ 138 IDs, -Lawn Troxel (aMHS) dec.' Edtlie t7umlane placed second 1s Pri6ble (ROOSevell) 3-2 -Elkins ILewis•Pelmer) deF 1x5 165 13B Iba.-Sandoval lSheridanjWPn Pna ' v . Manual Lopez IBMHS} 12-2 s declxfon allot overtime sear referee z 50516x, -- Monlanez {Rocky Ford) dac 13a Iba -Troxet dec. aruam 12.1 r Manuel LPpez 136 IDs. -- 7raxel won on a referee's !a Ft2 1~ -Randy quineana (aMHS) decision over Pdb6fa. ~ ~ M pinrred Sprague ai 1:58 Lenny Travel placed third n2lba-Randy Omntana tled. Perges ' 74511#.-Black lnoosevell}dec. AOby v¢ s decision. (RPPaevelt} on a referee Ouinlana plnnetl - Rand b 2 Forsytn IR MMSj 5.3 'y", y I a. 31 _ Mendoza al 1:49 t451bs, - MentloZa dec. F,1rsy1N P 1' C, Rently Quintana p3aced 11re1 1551M,-Brien MprJamBre {BMHS)tlae. N tl9lbs-AlfretlAragon lBMHSj plnnetl Onpvalo 155 IbS, - Miller {RPaky ford} des Salazar al 3:35 11B Ihs -~- Aldred Aragon- ,lea. ~ McNamara 4-0. _ ~r Manzanaraz 8-2 119 IDS - Bulkndec. Aragon 7-1 36716x.-Rickl]illing lBMHSl bads bye q, in Iba firs) raurad ~ ~ - Atfred Aragon placed second 187.Iba- ~ Flack;RPPaevall) tlec. Wtttllg a; 119 Iba, - 9a4Yjy LPpex (aMHS] lost tD 4.2 ~ aI 167 14x: ~IIIVng plnnetl r3engld ac NUIIBr 1&a 119 lbs. - Lopex dec. Gripe 17-5 [SheNtlan) a[ '.4s - w 1671Dr. - Dllhng dec. Kruiae 11-8~:,~; 119 lbs. -Lopez dec. Manzanarez 11.6 m Rick Oilling pled¢d Ihad.~ ; ~ • O 1191bs. York don Lopez 12-B ; , . e. ,, - Y~ ~ ~ ~~ ~~- " 12816x, -Garcia IRPGkY Ford) Pinrred : ~ Br Jim FPraylh{BMHS) 2 2 fo public Noflce~~~-~~ u t- 12g IDs. - farsNh tlec. Vallieo a oaDINANC6 NO.1 Sale•ol lead M /~ _ AN ORDINANCE TMt:NO1N6 CHRPTER 23Q ~~ ~ ( ~Q RELATING TO E TOWN MUNICIFgL ly `~ `,I COVITT ANO PROYIOING THAT THE MUNiGPAi GOVRT BE E9TAELISNEO ASA - Levers OVAMFIED MUNICIPAL GOURTOF RECOAII RATHER 3HANA NON RECORD MUNICIPAL P COURT. ,n Copies of this adlnance ere erelleEle 1a N ' - aurora mePati°nm ms smceonhe Town cl¢m e during normal wor4lnp hours. I - ~ From Paee 6 IMTi1DDNCFD. READ. ADDPTEO Arro a D BYTITLEONLY,Ibis d alryHE an 0 pCWE Pass.CvnstruMionwasstartedin 14SB, and Charley Vail directed it. ~ S u olJ 1 91 ~ - ~~ '; z ~ - ' TGwN of van ~1~ Hedidnotworkjusttorpublicitp; `~""=` "'° RodnayENSallyNOi ~ even though many inhabitants on co ~ M. xsne thetanches up Gare Creek Valley - Town clerx LI and nearby towns were glad t0 Pabllehatl In TBe Vail tlaJ On January 25, 13aa "' meet him persOnallY• He was not ~ ----` -- ~, justawarmhpmanbeing,hewas pUblic~NOt9ee a' aR outstanding Civ1l TEngineer. s~ The construction he directed was gRDINANCE Nq. • c, done right and on time. The new - 9«w °I 196D G U.S. Highway 6 was completed AN ORDINANCE RELATING TD THE ISBVANOE OF TOWN OF yAlL. COLORADO, °I t --pr'gpprty In Xg46; P.t f79at tiro@~ o IAND TRANSFER TAx~ ANTICIPATION WgRNANT6. SERIEB 9Bbg SATED a when it jot ned J.Fi:"'Hig3twa:iy 23; p ' A theL''ag1B[7071r1t}rt-9rI1m1381OR`7$ ia MOUNT OF 65.350.000, FOn THE PURPOSE OF ACOIIImNG REAL FRbGEkTY TO 9E c 86Bd fl fCSplUtiOn eRd named tt -USFO FOR OPEN SPACE, RFCREATIONAL th bR PARK P1IRPOSE9 Vail Pass In honor O( t11B , BE 170RDAINEDBYTHETOWN COVNCa P a]lCeptiollal CHARLES l3- VAII.I 'OF THE TOWN OF yplt. COLORADO, TNAT, Nom' - H18tgrlC6ay yOLrT'B, SECTION 1. Dednillone and Canpmcllen A.OMInIlIan1. nlh~s Ortlinancetha}oll°w,ng d Ms: Phlk Fahe R =arm~n.rejRaldlowlnq NSpanllr°maamnge a y . y - _ anlm+edD D.nrN asvBx~sBSa REAL ESTATE. -IMBERY 7+900.621S.92B3 ~ .. ,lcbant I a.a ar b!e BanO Year' M aennecl,pn :al Year, ma Bpr,d year which eme rl Yaer For eazmple, for the Fiepy e Inp J•RLarY I. 1aB1. tAe Bpntl Y••r 19r Na WerrenM nn Depemh¢r 1.1380. entl enna °n m¢n or the e 3relayrs to ahlrh N1a Va pg6 as PrOV,tled ntl1hmilariae~uaa d 9 °f, or th9 PnncipN °btiearona ar a dY~ Ina unaen same ns1 m m: w aI January of any nmemirty hmrday %1neTwm C°µPpl 1°IN, rBn[gls nd I,ereoi fpr ine ~. 3 Ib till ir~ome n nwanlmertlplDroe.- ' ,n c°nlunpian w,lh n Rae pr2S sport ma opedY In the aMage ee sal lam In or any suvderrenl ar -ax FDAd: rhaspecial Mnd of Ordinance N° 2S M,r¢ it fAa lend 7r¢nsla Tav x ~ •,.• ;~ 1',. ?: - a;~: QN~ OF VjA1L' M ST LUX RIOUS - -- FUL4 SEF#VECE LODC3~S :. , . - .. ., ,. ~' , ~ - MANO~t NAIL 2 STUf]E4 APARTMENTS TO C'F'fOOSE FROM... •Gold Peak/Nail Village Location with nine tennis - ~ ' 1 • ~;~; :courts end four ski litta at your door step. ~:''~`•IJnlimited owner usage. ' ~~Owner flnancEng available, ' ' •Mossrook firepEaces, fug kitahana, completely '- furnished, sleeps six comfortably. •Two ppplse sauna and ]]acuzzi. - •Vlewsof Gore Range, Gore Creek and Vail Mountain. •ExceNent managlement and rental program. •Home of the famous Lord Gore Restaurant. (29y MaYnr Te deiune a de leclo Mayer of 1Ne Town ¢r nla a*Aer wrteaad In Nnee°Pe, it ~ Yal Nat Proieonting nueraamal d¢duaPO tae' Opar•tlon •b ~Nnranance Expert [2' xl Opereuon arts Maurxa,.ance Exvenaee: me w.em met the town hoe am crow p1AFnlaf Revenaea awsl . rae•on+Ne arq Please Turn to Page 4D ~t WiS~ B-LBETITB 476-1370 .._ 4N bne, two and three bedroom units on the first tee of the Vail Golf Course. 90% owner financing available. 12.5% for 30 years. 24 month balloon. No points. Call Mika Palmer Real EsEate for more information. r 4 V The Vai! ?Malt -- January 7S, l980 ~~ '.. a Thom Pag¢98 • dtn,r eecutiry Fnn nr+e been eYiculee erd 4elivered wnehnt to+nK Ordimrce. ad t: (30} Pirdy S1Nrieei' wanenn. bones or N t rn. wiG e+rd n eecurnlee preaN morn lro Pl,eppeWe RiYettllM W e std tt a Inad by mar s. aquelM or on • pirdY wlln the 1311 P+Ylrp AYa,l: y nut ciwea wiu~iw,i m . eacrwa wor=n y e.: we mlt i' r IM i C b % mctry d w ew f roe tan nWnel neY,piNteo rn,ea w~e ae vropnnm~wrtMeemppim ,r,mau~ea win: Tam. or ol+lerria hoed ens ee+giwlatl M am TPVm. t+31 Fisdemption PrlEe: wFNn egad wIN rwpe ry Parable pmmniae Poean eeelpnared OOd Wuen M me w~c+wl a I me..or ippllcaW pr,unWm It enY.Oryetla utuy, ine eeemptian mereet vrior to Ne .urea nusuriry mm n e,tn wv,am or soar security on i FBdempuan Data N e.a manner co,kemg4ted i ccadercewan ms lwmaotva wernmw arner eea,r:ry [µl Raeerve Fund me epentl fwd uei[id by secuan so I>,mu - tknslidn~Nesii tw,~i eN Yeb~oriim~iy tY~i ~eonat poperryal,eteileMrhe FumieM,g M ' [lain the Tewn,rnwcnperce atones w wrm in adln+n<e Nn. .,b. . pgemmyOrementlmenl+Nereel. - [dl Tne cwta Intoned In the GPllgprbn or eh a enY van or the arrw Ptolml Rewnuea: oAn emt+ot unnN tumiwwd la the ~ pcl'ey me Term a viherwee. 'Oparellpn ne htemterunce E.aerewi does mr I ellgi. - Ilr Arty Mlwance fortlepgcmlbn: ' till Anr coaSe o1 , elrutllan, Imprllml Angie eeteneilatgnrq aamxwnti tp u~jwl AnY~reierves for ope,Hldn. tneinlerMnCe. br regil of me P,P19[I: wertrsnl4.Yd IM pym lmt ufeeny Imereit Iheleda: ' ~ p My Ilpperrblii[Iei fnwnad in NP •~ ~ ~ ~ a~Mtpllailq 1ha'aProjeci art enY COmd~nadrn Ina+atl; Y caaeeNon cb irici, arwM o1 lapel PeBlll[y na[ 1 tB1eQ et NegTawn~ wnbh n er,deE ~tdreN +.ieance ens aYVen of me v3:rmn,e. Ig7) nrelnante No n I. Ordlnerge rdo. 1 1, ETON SOUAR! LObC# .~ 9ne bedroom wlm loft, , Slrrldetk.WCkln4 Ld1Wa-d! Lila Ski r1a15. ~, .::.-'.. ' 401' W,t~NOtiImH~7R CRC~AL ~ ApproJtimatlly a7 of 7n'~:-_ ~-' Bufefe~rCreetc antheNOrtlfPfOnta9aROa0slan9sfde;_:,.:.;`.:~.F_ YAIt LORE CONOQININIUM - An unfurltkhed s[udlo piilaQ9ft aparttrlent iorstt4d'In ttte center of the - - , Arthur G Bishop- & Co.~ i0Y Hanson Ranch Road ~ - Post tifflte Flux 867 Vall, COlorad0 81657 " 131131 4 7 8.5881 ... ~" ' ~ d - ~1pi~`ne GLog ~Ha~es ,a/ B) eery.dY w aecurnlea' nMn uead win 0r W eto aetuMiea b11MTOwn. any WMnm ar bantl issued ny the Town, or enY other evidalrce M e.0 eiNenternem el money m the Term, IJTl Slate: foe Sl9la of Cgbredo. SeSaiyil'in~:O ndMimMPUf~wwYeDlelmmnme Pbdaed RavendeE havlnp Yen Inereon eubominam M1 lunbr IP SM Ikn trre,een v! the CN. .<eaneee w v e M1en enmean superior O< CeMM to Nee Gen elwean pl Ne Iw I^ db ~lo trY warrant.. Irk] Suprlwar General Obligation eplida: tlve Prwr GeneealOblgal'gnao+w+iM Adtliitoeal - u d5 ' etlL ' er elE -~ . `'Deal ~~s~ate - o t . we ~~~'.t Davy Cole -REALTOR ^+e1 '~ Timberline rr . Properiiea Gallery at Homes .ee "y DON'T you even start serious 'bn VNpERESTIMAT$ negotiations. n THE BUYER I'm sure Y+>u'~ heard it said: ' Then you're oft your awn,' ~ "Why should l aeR my house poesihly of a great disadvantage,' nl. ~ thtvugh a Rlealtor? I can sell it Ya the intricate areas at 1ef yself and ~ financing, negotiating and - ' a crommisaion. RlghtP Wr[stg! T1tis ~U°g yourself from a!I sorFB ,:: ' ' PI ~ em kind of thinking can easily turn a[ do-lFyourself pitfaEls. You've ~ ,a out to Ue tYilBnCla1 folly. - got a lot iavreled in your home. It ' - _ Never tmderestimate the hand makes sense to list it with a ' finencialhargainingahiGlydtho Realtor. Ae'It sell it for you - average buyer. Spend one day in wiUloulhitches,farthebostprice the field with any Realtor, and in the shortest amount of negotiating atul handling ol3era and cotinter-oNera and you'll tune. _ , - ~ there is anything we can do " appreciate what I'm saying. ~ hake You in the field of real _ Frankly, if Ilte typical buyer ~~~, please phone ordrop in at [mows you are not seil[ng through Timtlerllae Properties Gallery of . a k~altor, right off the bat he'll Romeo, Focated in Vail Village expect you to deduct fire above The Deli, phone 471}2113. eommisaiontorhisbenefitbefore We'retteretahelp! - - a,.:.. Y, ~ ,Y a .. ~ ~ . ~Y .~ ~- Ylluetralion lwok] t _ I ot~cuatom tlesiRna oend $5.011. 'Phe custom designed. hand hewn 1 home... hY western heritage log 490., inc. unlike the ooroeeorl m8led lode Leh home we.deeign and r ~ ¢t G completely W¢etem HentaQeAvenu~ 12924 Weer261Fi ' bailt fFOm ecreich'. Each latt fa and peeled hand notched. and the home le pre- (t/2 61ock west of Yaungtleld on 261h] mnNrw.ted atotu 1 bt The dmher used ~a the ddr7~1~e~e~ available lodgepote pme. Golden, ~olorado 80403 4,~ e. i1 a hdene tateay in~indiwdvaliatie with the one: lauit 23'd8176 `Fk. The Yeeult o! !hw „ ~ ~.... ~ . ,:. " ~ ` " I~. , is ..1,'0. mnve~nsN't?Clioti,-m,. ;-y,wr~,w~:~ .Y 11'3a~9. aS t ' a~'~ial~]~xnd~9k00 anti[ Noon toe" ~conl pea .ny ~~ /~1R~-tt'Y' RIY8Rt10U5~ A deluxe two•tftrea befdro~m, ~hre€ Ccrondoml 4m Compl~ke . lO[la[etlndn Gore C eeK amend only a 5htlrt walk to the fll r „ri~ eene~eiNpeev~~an Band., wnlcnbanae Paler p eena Ib ~¢ 9,Falaf~reion of mee Wunefa, 1511 Town the Tdwn d} Y}L CbbrEtld. _ 147) T9wn Clah rna d juraG of lartaTpwn Clark pr Mq Tawn pf nlf pr AN IUCEatlp1 in lanclpne. ,S any igpY Tpwn CAUntd. Ina Tbwn COPnClI of SM ' Tpwn IX enY e„cceaear In luncnple lnenlP. Tawn rape F r n m1 bl Xle pl Cppradp. wn,ch bank M amoruaa m wuene aria n exaraanp trove ' pdisw1e~wrrwrn or w.,r.m a,a.a weunli.+ a rrw,maa and pealpnaed as ine-T~wn of 4e~1, Caaedo. and Tranfla e a,reinpavm wernas same Ideas, dales FebXUry 1, teas, In Ina epgrepele Prlnnpal' arnpam er ie.sspada, 6 CsnebPtllpe~ Tnn prdlivxa, pl wn~re ne tomeel pY dlaal ~mplallon man :ne,wlee npProX..~ell ba oon.lwap x iawrR. plun{Yen~ waGI~nFIM plwew~lnclad~ Ne } yr, :: fi,a IemMVrwl eM the M Yir. AM wrM1efeil lh. ;~ Nnea ap llglCEIM wWQl al the nwlergeMer eP - [q ndrwrarW me werreme Mar nq mauea '. paYEbr¢ 10 bee'er end dales ee n} FlbNdry 1~ 19 0. comelmp 01 1 pro Wdrnnle i Inc _ narwminenon br 65.UOp eecn numeand anxculwel , requur n„moncai ardcrnoml inrwgn vprra. a _ TM Wa1n Me pl,ell pact e,y eel o! Inla[HI pWpOM 'gY4amHg l>t1eHFS tlbrlan IIPm :' FlNwry 1. 1aa0, to Ines raepeClM melrnkd ~~ dalea'eecepl d raaaemad qqr tnarnld. aE Ilb - ~, pe! annum nln at mu,eae elated OBlpw -fief cwgpn inrynq snarl no parade mne I. rae0 'Fro aemlennw Xy Plata/liar an the 1el QeY P} - .h.naend Sne SeldeyPF aefemper of each Yaar TM Wemws Fhall~bo nVmplmd. EI1w lna lal QAY dr. pacember Irt IM ~l,plyal inqunlaerM y~aLalld .Hell beer pr em,Pm lnlar.el of the Yee ae enOwn in IM- ', Itlbwlnq FCnadPlp Pa Annym -~ warorte wmdwl coupon °IMtp 1p i S Oa,WO ipgi Inle FgPFIe isiom issoO°0op isa°ei e~b~o • it q Fdp Ied,ppp Yaea a,eo tot ro 136 vS,Ot10 t815 8.w f181o IT¢ Y50,pRa fg66 ee0 ~~. Y!S to ~ Y15,p~ip IV4¢ 8.W Mato 315 a5p,apa 19ae 6.qd :316 eP 3T0 2r5,Cpp I 6 ¢~OD .an m Iorp bgpd,aoc 1 c p.xs tiYifdRidge Veit a e _~ e , ~ ..,,, ' - y Y. !o Steamuoet 1 ' ~` ,' 9pprlnyya - (T3 mTleal ~ ~ ~ _ !~ ~ Gonsidering aft of tfle truly outstanding aspects of ~ ~ ' .' Witdridge-thelocation,thespactacufarvrewa,thebroad ~ ,' wpicou soulh(:rn exposures, and the seclusion - perhaps'the~ to - rarest quality is Its extraordinary tranquility. ' i3lenwpod 5 rlnppX ~_ ~ ' [Pt mlfe¢} 7 miles ~ - 4 miles NiakB your Edwards investment for the future now. ,armed We have a proxi- &a¢rar Greek matsiy 25 uiliiing Reeon sites remainingg zoned for du~pplex startin at ' • $a0,t)p0. Excellen~terms available. Broker cooperation invited, f,.oiQf brochure available upon request. Price subJeGi to change without hotica. 4 The Vai! Trail -- January 25, 1980 4L j~ SHAPIRO +~ REALTY Lt!)CURYAN~ PRNACY Two prestiggl[xts Unlta all located on Volt's PGA ChgmpEpnghip Gall Course. Quiet, private waoundinga ovellppking beauhfvl GorXq Range and aspen graves. Heated outdoor pool; private sundecks; shaft(. service fo VaIF Vlgage. onty 4 1/2 minutes away; restaurant wkfhln ova king distance. FALLRIE~E Ready for Immediate occupancy. Unit No. 417, two - beciraom. hvo both witn ioY~o-oa, south e~aaura. Carpeted, draped. antl Nmfshed to sleep shc. saunas. ' Jacuul, undergrountl parking. 1,744 square feet,,, St 99,9pp -r Available toroccupanccyY January b, 798Q UniT NO. 106. four bedroom three b~fh with lock-0rf. carpeted and draped. Completely furnished. South and west exposure, Saunas, JoCU2zi, underground parking. 1,676 -„ - square feet,.. 5269.000.: SHAPIR4 REALTY, INC. Sidle G8, (allrldge CenapminWme Ppar O81Ce BO% 15a7, VC31, CPlprpdp 8!457 (9031 x764787 arOker COOpelatiOn Irwaed ~ " ~~ .. q Blp ) ~ v ~~emer Eagle•Veff Il m111es1 Located approximately 1,500 feet above the floor of tho tJpper Eagle Valley, west of Vail, and within view o1 the entrance to Vait Associates' plannetl Beaver Creek (assort. Wild Ridge takes fuf! advantage of the dramatic nflturfl! beauty of the lantl. Obtain [he Properly Report required by Fetleral law and read it before signing anything. No Federal agency has fudged Ehs merits of value, if any, of this property. offered exclusively by: benchmark Vail gg,~iate, ir~we1estm,~. ate Real Estate, Inc. ~II ^1rle~ 8nff Veit VPlaga--gi~m¢ne gnnex e7Baspp t pl6p bps 168 - erpn, polenelp 81870 Van f,'.pntlole aulldirg - LlpnaMeed 176-6669 1.PX0.1H6 Benchmark Shopping Center - Arar[ iN0.Ma1 iraer aNics gp%7 Veil CdpreA 1657 Bir,kP1P F~IrI Ina~IlnNme o B IPrr14,pU ymganll rd pF Rapaamap, ri~l I 1„„fir.I f. '~n.~.h - S - ~1 ~~:t t/ i 1141Y „. i4HxY[ar•r ~ IDI¢I eeemba 11 'I`„`J 1rAlirour~e4~ •'n:hjni ,s ~ ~ 1!13 r ~t r ., as ~ _'.I . rte 1~ tn:, , .1n'HS11aWyy~. ! ~^" w ter. Sep ¢aaq.agq Itroa Saas.ppd 19d5 5950.ppp S3r5,fpp tP~ XISD~epp see XSOd,p00 L' Tlu• Vni! Trail Janaary 2,5. 198p CONDOMINIUMS IX TOWNHOUSES GOLF COURSE SUPER LUXURY CONDOMINIUM Outetanding view) One o1 the moat besulifully lEir niehed unite ever to he offered Eor sale. 3 bedroom, 2 bath, has all the amenfliea - $278,500. VAIL.GOLF COURSE Large 3 bedroom fawnhouee with 2~cer garage located next to Vail Golf Course Club House. Many extras. Compielicn around end of December 1979 - $327,000, VAIL RACQUET CLUB Craskeide, axle bedroom unit in expellent condition - $$9,900. ' DUPLEXES 1 HOMES ~ \ .. ~. T h• BOOTH CREEK DUPLEX Panoramic view's Irom the ski trails of Vail '0 Mountain to the-mejeefic Gora Aango highlight this Inrge modern reeiderice containing 4 hedrooma and 3 bathe plus many extras - $,242.000. EAST VAIL DUPLEX ~~ ~ ~~~ Exciting 3 bedroom duplex, with 2 car garage. 2,4$0 square Ieet of luxury located on Gora Creak - $329,000. RIVERBEND AT VAIL Only 3 homes left. 3 bedroom, 3 bath of single family privaey - $220,000. BALD MOUNTAIN ROAD New Booth Creek duplex uhder construction for Ianuary, 1980 occuppancy, Ohe of the nicest Iota in Beath Creek, Mpny lreea, greek views. 4 bl9dtoom, 3Vx baths plus family roam - $265,000. BENCIiMARIC x'RIPLEX Two serge 3 bedroom plus ictt, 3 both end units with apeclacular vlewe of the $saver Creek Slopes - Erom $225,000. WEST VAIL . 4 bedroom, 3 bath plus 1 bedroom, 1 balk rental. Excellent Bunny location In West Vai] - $17o,oao LOTS WEST~VAIL Single lemily lot located in Aspen trees overlockinq Matterhorn - $42,500. FERRY CREEK 2 duplex lots located on Golt Course -$!3'],060 each. VAiL11VEST REAL ESTATE, INC. r~3 47&05SI P.p. Bo: !1 7, aB, Colo:ado 8ltS57 IhB rrpgmrerman4wlfon! of mi! Ortlinance « Warrant Pr cpvppn wkllwhe shel~nd nh av~9 rpel, apve..mly tlest,prea. or .ror1ugA 1 waxen. er ter eehsl.nce~npi ine Werrarti;a al~all parable mmiy Irom Ine Pledged Lana Tranaler lea Re+anl,ea arW, pn a bens wbpm~nete end Lanier Ip tl,e Pn« GOnerel OElipallan R9ntl5 end AtlNnonal ceneml Dbhp hurt Bonds wsved 9A panty Ilh the Pri General Gblegelign BOntla, Ine Pleggee Saes T!Y Rerenaea far. cpliachvery meeged Rarenueel n,nl Ine wurem ace! nw cpnsnowe a debt of Ina roYm ~n;n any ImhpnaV cnana~esnlatsrtnrv°rmtiecgne, aloha warrant r! tbl peraRte ~n while a in dart b m Inr proreed! gl pen el properly Town fs nolnpleepad Iq Ipit me mlRCipalal eB resat qrl 5pah Wdnenl. EeW WarrOnf mall rnrlner raclle the! t ana¢, ine earn«ny al Ine enen,`rr anoinia orananee. 191 perm a warred! ana cpuppna. subieal to tna prdeiawm a ms! ordinance. seen Warrant. antl ine 5pvppna 16 be almcnetl IAerelp, egsll de to eubslan Nelle the }allgwknq form, with lush o sarbvns. erdorsements_ and Yerwl9vns as to recitals ai reel or other awwaians as may ne repaired br me circumsmncea end as mar ne re~ arras or perminlee o. mrs oramanea. and a may hr eceaaary appropriate to canlorm 1p SRa uftele«arntl requventenrl al any gpvarnmenlal tV or tp any wage «requiremenl pl law .Lth respect mereiPl IINITEl7F5TATE5 OFAMERICA S7AYE OF GOLORAOG COUNTY OF EAGLE TowN or eau LANB TRAN9r ER TAN AkTIGIPATION WARRANT o1 p SERIES tBagA Na 85.1300 p PI Toe Town of Vail, in mO CPanly91 Ea81e. arts $tere pl Cpmrede Ilhe T[wn}. for va{ue 6L receivatl. nerenY prpmlaBa w PaY m the bearer eel, eplah t,vm Ina spena4lunda provitletl G G~ tnervlor, as nerernaller sal form, nn me tbl day of {9erembar-19 IAa P'~na~pol9um of FYE TNOVaAN6 GOLLARe Gi TE erW !p pay eglely from said spemal IuntlS P1 mlereal nerean a! arlgencad br inwrasl raupprn noralP allachetl. eilnerate pl ~ PN per cemum I %I Per annum from FBbrbBry ca 1, 1880. to Ina maNrilr dale Of thrs Warrant. esaept a retleemed poor Ineralo, payabta.lune 1, 1980, and snmlannually Ihereal[er pn ine Iel tley el Juna end the lit OaY pl Oecembar of earn rear, upon aewmetwnerw sarrenderot isa Bn _ ,! old.n wu. ine pdnuPel a. Im.relt pn and premwm tlbe in Cprtnlr4pn wlln -.-drlh.d-'Stele`s" " dma~~~S.-..wiina~i aeuuaran ipr eacnange orcd;ecrmn clurges, i gt me !renal Il,nee nare~naher spemhea. dal nal plRBrwree, al g „parr 1 upon ~'gfore~o fthn Parl el A t. preaemanm ntl wrrantler d wuaensane m;e warmnwa may5e•eranr S T~ Wemnis are rwt sbR33ecl tp lwnY eaeept as lallaw!ledemption nnlaj rTrp Wavenre rnatvring an DeaemUer t, 1888 dr610 be latbemetl Irom theatnking 108tl a.nS rn me Principal antl tom real FpnO as nermnelmr tlefired In ne fallowin` arlnapal empent! bn GBCember I r a n al the la;pwmB ream, relpecwNy a oar rA a nt pNn accroetl mlerea ttnerepnrrlo ine 6a10uliNep mr redemptrom. Year Amopnl Year Amount 1891 5815.000 1995 Sri S,BW 1888 3300,000 1898 6a00,p00 19x1 33B5,talq 1881 Sa50,000 1BrN ssso.wo t9B3 ssg9,o9o mee cpnsl~tvle a m suhardmat. nhen esclualve aecpne Warmnis d adn,pn m finis rs one. L . . •. . nnminnq ine uwar,rB pf pl}rlreenecr8iluMl, al18n st herppn,wptlh0 Ynnnaf splwnlcn miareox ianly pie: nda°i'raues srw i~ilol an Ir vocable one dyeleian'ar~nlin: lee e Alap equaamy re asl~ r en the wedges inapt wch Warrant! pmy ale ana second ana e,l nor n gray a m uvpn Ina Pl oeee sales n ben aemq 5ewrw anq Getxral Obin re~n0onns ere! Ohf 8etion minas en drrly~lw~ih s relaOblipalran Bona!. +m~a maaer~eaunf,anmh ro eawessetl cermirroes. m.ae parabra o-pm me vm9 a Ilan thereon a Ip the lien of me er pl wnicn Ibis fie me or, aepressea cprwrnpns e pantVwnn ine eon vi paccpraanw won rrte r o,amanee. Gen.rar herewn, rrtaaarr~pgmme 3onW culatendmg an me preaaea cenenwns, mapB payable Irom me ea nawng a lien rrb junta to Ine lien d Ine iontls outstanding pn 1M e wara~ts as meser;elct avblecl to atlW[rpnil ntrveingalien lherew on el wan warrads in accordance wan me p~nrlsiom m the ommanca EYCepl ar otherwise eapmssly prvvrtletl in th'a Wamem , iez rRevernuesnuatl h hat Pleagetl nSe esnTeY Revenues ale agS,GrYtl. pledged and sal asitle 1 of this Wwranl Intl 6er,ls pl ne ennlantltineeeaallln ant npau nloirrlnr eale.rLm m me Pleased Lana rranster Tan Revenues antl the Pledgeq$ElesTaa RCVanues. hadcrpll Rls Warrant anq ~rn eeCh ant eYery I~Ill Beepentl wrP pert mndll olln cpverarnS9 61 mss Warrant erM o! fns Orq,nAnce. War asnlSYmrlhe eB9regale prafndpalaampUinlgp~ a5a59,9gB, of Ake senor ana da, e. e.ced as to under one Inlaresarete. issped ana amnmiaetl forme pprpvse vl dcrraying m whole or rn part the cost of acgwring real p.vpeoly rer parNa eelign, open apace antl the! aim tar purposes anger tM1 glhprily Of antl in full ' rpmljy with the Cgnslilullen 01 the Stele vi ' (',pl«atlp. Ihl TOWRCnader, and an other laws of me stale pt empraaa IReruuntq enanii~g, ant aursuartt I ne ONinance and of ' ogee pl eiha Town, tluly eeppletlY' p elashea end rtiatla laws of rna Town poor fp the Issuance al Ihls WareanL Reference Is hereby made tv Ine Ortlinanco, ono p am ana a,l mpanc~abona alw menamams m«epl. +« a eescapien pi me. new;°raa~ls°ori the ~ria°n of iYn ~n Pnie Ia ol~e ere resued antl se urea, t u r w, nr, ante. ~prcvialona with rebpem tp ~rM1e tntl application or me prppeeas pr fha .Ine cpancbnn one tliaposrtrpn ann~ a the payment vl l ee~eEl15ervice hems of the wamem5, tna !arms arw n which Ine wauanls are ~ssueo. a 11 I0e naln[el~dreattnn I ma eor. ~i to antl ine m s Br rl ii ana also me npnrsanar~emeda s of me warrens, Please 7}ern to Page 94 COuRTSIDE TO~K/NHOI~ES at wail - the plesu ions vat ~ I«ared lust opposite 9 equal Clun, !bass sup19rb3y oesignrdo and t3uklt toWnhprne3 CCma. with Club ~ ' memtx9rship. E[!ch borne includeslhree beorwms andMroenopn~ boll balrt3, pins an extra 72' x t5' slaoopg6elraff, the entry foyer IS tx'rck-fik'd. the ammC11C tv~aTOry living Ippryl has a fireplace rnto 1WOo-to-ceilinngg 'ndovs. ono the kitchen features all eleClnC GenerolElectric appliances (including refigerntor with Ice maker, tleluxe range ith microwave oven, pod foundry with washer antl dryer) male me pecks an each Igvel, ono a tleated~ gIXOQe. Trle life {516 b81V fly ipndaCOperl to enhance firs ftphrrpl t»outy ~~ _ _._-1 1•r•.~ r '-"~-A one home to Phase I - feOtly rer pecerrtaer 1 oCCUpancY„S20q.00g ~/ Four rtorrles rn Phase li -tab of t980~ . V vccupanCr~~~ 52a9.f1i10 each Vail ~~ww yea yalagr SrrmaraA .50e ~~~ ~~I. iM ga^enr,dFxent In g rill! Hia. e]6-rHa sr Or~i ,. fy„ ]nv ,.ir1~r M~5 iu~ A.~ ~fN4M00 '1 h9 Warrant antl the Wamnu pt the wrlw whfM !his is one are bmrNy and special, bllgetlma of ma Town payable adely out al na sae~ma br an nmYOCable nsisnmam ana saga 9aee Ewa Bad io oenaenYreee o nTna and Traveler Yaa pt the TOwn,and, one hdela ..r . , .. . Thh t'aril Trrt1t - Jmnrar}~ 2u, lAtaY) - _ -_--- _- - E:1GLE RIVER ~ „~ L.~1D Co1iPA`~' ' ~ipr;ine I"a«prdance cairn andwemn menmrbl Iharetq I lodh Vn 9Btri0n 7 nelaal, in the Wenl dabtd Pldegetl land Trans+er Tea PeuBnues are sunc~ipnt Ip pavme Derr Servicre Reevrrem cn ao~ sa ref tonn~nma segron.pn Prpelprereer pr, t°vlimemawaimeieyi or0. 'pwm twat of of VaJ w,..,...e e,... enw•..,,.~ .. .,, ,... er pr N rota al ' •- _ -~ Never occupied, this beautifully- finished four bedroom haltdupEex sits stops sunny ridge '.n ~' +g}ay a_, ~ ~STi.,?}'{, `~ )~ F h ~~ } ~ ~q S ! rp ~y ~ ~ ' y: ' ., r~ ~ ! ~ ':~~- n ~' r , at ~ ~• I I t. pl mOT - Ihq ee tp ergo one ermwe +'Ybpies t P I ry OlRC aI Statement 'w dPUF C - 19tal0mmt. - SECTION F i rMa created brra~ OMIIyr~cv, A- 116p6-t W Warrant PrgcBBdS n0 Omer R as. Secur [y for Warrenls Tne priueads~om top Sala or me wa.ranta. me w.e9ea Pevenaea ne 'Mt rrer protect ~Aevanues recemed M IhB Tpwn Irom the Pmteclsnallbetlepoatgd4[heTOwnnihe ~prn~a r«t~nt~em:a ~.t,~p~a~Y~ overlooking all of Vail. ~ ' . rdinenye ~i ~ or one warmnls anal nd b0 ' ~ princnase uA reem¢nb i PP .°a0. r 1 . ~ - ^ MSyor lse r¢Bd and ~~ ~ 'ti' ~"~ Wdrrpnl Pluchaee Agrel V bwislldtna Town. n a^s - ~ ~ ~~ - - ~ ~~ ~ C- Preliminary a1G0i Statement. Tip TawnG " Prime Potato Patoh Club home approval sod mere'Ip no ma rown cimG m0 rrwTnax,etpwn, s overlooking Vall Viiiage and ski slopes ~. ~ wanams. me ' p '° '"° '~~' o l i j.' I nroramse emen ere p PretlminarY O tl P l ll ~~, I _ gr urClraaer y rep e the public lndppreved a~ Amm[ca, wMOUt dedugion +ar exm we cdleclim charges Isom and in ,Colorado, aolelY ~ leom Itve P19e09edt Revenues tler vetl ir`o nine aw pet rpnn 'In B warrant to when Ida cwoun ppna~ne, terra tre interwl men due pn as Tew" at val. Cnldaro, Lend uanpfer Tax Anncipaupn wananr. Sanee ~raepA~ ba.rmg w.rred Rp. IFecaimile signewret Mayor Tpwn er va;l. cotar.tlp lens pr wren d coupod aGVtlerrenle E~uanyereVn urB~dt }a+m vw Da any ether tMred, except ea escreuy wpyieae in w vursued tc RANGFtRS ~ H4ME4 ~ BlISINFSSES IIVJD ~ C{JNDOMINIUM3 Mikg ^yrrlQ7Vf - BIOkBr BIBnIYO GIOSB giOlilaO wolfs rrarq,e dyason 4905) 32&7774 ~ _ t0% Dlacaunt fOf t:QSh ' TOWN OF VAR. COLORA00 sr IFagpimae sgnalnral IFacsIMILEI MeyOf ISLALI ~ AneaL IMenuel 5ignelurel - Town CIarL End 6! Fb.m of Warren I ~ (Farm p}Intewssl COUppn1 CoarpDn yao. - 3 iimltelian of lne Stale ptayiamn r hmnanan c is ~. aed to r earrer pbNgatip not ins tn,un C apwe'lal anenmaedobil9l w0rrenb ere rot peyab gram Ins proceetls of g ~ the Wu rain d,b crr plBegea rpr Paymem d daupom. pE N lew~euly8 olk vrp -^~ ~'~ ~ "-"+~.r _ _ • On mB 4nlday °f OecBmbBr, fdunel. lg Un106! Ins WVfpna iMwn Inia cpupgn is Ct18Cnld hn boon calNgq ten prior re-0PMpnpn. 61eta dl GOluredP. wllh upon a~rtende9ol thla ' - Warrants. II is necesE: intareeta pl Ih plan moray all art a ponlpwn Cf by IsewnP Inp WOrrenb B. Warrant Purcnaae Bale. The Town Caul ' ~ al erld rnara is no' il~Tavrn Gerke warren aelea aanaarr a ,ado t ' ' ~ IueEPUrchap ~, execun PUmnase the Warrants i ' ' terms d thw ofemar P,urdnesa AgreBmlel al 132 Ftlt().~t)\\':\1' - 13()Y tSl 1 E.\C~1_i:, COL_OIL\t)U ttl{i3l 3(13•:i2R•7'd ~ {i EAGLE RIVER ESTATES SUBDIVISION ... with beaufllullOts an ofle mlleof Epg Ie Rtverfronfpge. tofsore - prieetl ham 520.000. av9+aglnq 1 L aeee in sl:e.Ond ofFLxfnG singl9 and mulfbrle famiry req. Rnces Include all urwerpountl aril owed aheeF. Ea~Y access onto t- 70. Owner ri. , ~, ~.... ~,,. 4016 dtacarM ror cash. 5x50 bldrer caGrierr7110n, ' ' ~ tlapantleni M nor be s} BuFlt for mpuntsin living with all ~ Pe~i~z'~•a~> ~~+h° w _ the luxury of a townhome, this ananb, errs ass[ Ins aubaeHaem NOldat ale thrge-level reafdencefeaturesfine ~~ manner to reapamima Ih T Oak trim and cabinetry huge diaPOael by own e a panto and emPloyaea BX anSBS Ofg IASSr ek Ii ht9, y P Y g . I bath and heat d I mrom ma eels of FMw nova a>lugnataa in ~, u~al the wpcepda $t e UXUr OUS ~ ecosio+nav °° ~' garagB... pEUB elf the POtAtO PalCh r g 'rym ey in ue W CEub amenltieE, ~ ._ Mahe Proceeds of tltA b nenmemon a"a dear -.~ .: -.-.r ~ ~~ car , ~e~ryw r ....- - ,f,. :.. , ' ~ :~ '~IALf!- ~~ ' .... - i' l''. - aN8rl9d e>tcluslvely by: - t ~ ' 1 ~ ' ~ ~, .~ and ~ ~~~ i , I ~~~ ~ ~ ~~ . Foal Ens al LrOnlReaO M41 van ItlIl11 are.rpnn W«ianl ~XCwy~~'~. ul G~twane RSi ran t-1ow975Ma3 /{ }~ ' Inhew°r erwwn is el amine. unrt. ~~ ., Vail Ydtaga - Silamern Annex liba300 va'n aprrd°la aurbing - Lwr+stkatl ar&799f Pose bu ca Box Tt va~- coiogeo 8+35* ~~'~ ' _ • ' From Pa a 42 8 pure. rnr a anpwn naOOe~°io°lawrlal money a+Ine unriee 9letesol She Cepi[el Imprtlyementa a , Funp ro tool Flaw! Yeer arq Ica ra M remaining a data Ip b0 palled fp ins Gee remenla of the Wanents, any tool F s) Year hone aMri taVll. Ins Town Mall Cretlil to Pla gist Fena, no>^ Pledged sleep ~a seen equal to me mnarenu ne I $arvrce Requirement Inen tlepnai[eelp the Pnlicrpa{arrtl M axe ndi m°a Preb Tmnstel Tay s legaliY avartalde I ale auGn FuM. A spedal loon is hereby eegT.e~ter ITaxTMpcof Vail, p stns wAeseFe Furor a nwnn upon receeas a+me warnramp me alien pa Yment need M made Vlirptn0 s~lgn4 as xhe maneya:harem loan 33TS.Ogtl. Tne mpne'le Fans anon pe malntainpe ens to nn p recent a ~avieed I sauinn so arK aM 9 ^ereo}, ly~fo Preven S of .[he qpm 9e BI Ins War2n15, enY lbditiprlal antl one dna 'er~tY~urdr9a nn6 bun nq r .tai lire G event pal antl Inremsl Farb as fo pay sucn oBb! Scrvrn as the son a ace"p t hall np ppitl nto Ins Pnncipal ana In~~t FUM at sucn Irene from dte Reserve Fund e0ual Io Tetlrflaanca i»Iween foal peitl Iromme Pleagatl Aevanueaara metuuammnl w Mipwaea me m rrey so sad pirab u replaced to ma Rau~re Funa irpm me ant mays rndRetl lathe Land Yrpnsl¢r Taw FurM Inereafrer racerved ana nVI requires la ar olMrwiap pPPlietl ev Section SC nereVl, n Aatlnwnal Parity Warranla r Iher Parity Werra 'is7, antl I~upaneeeer~ngs eompr img me i6aVanre I mOSe secriri es r°gVlre the f 1 pl m e ounet R rve F nd snalV be re~Maapd ddb tea besia based upon Inp ryinCi Pro ra pets mount of IM urea Ovbtanelrg warrenro nd Ins w pnncipal a 6un1 I me Men Outstaner"p ACtlilipnel Pertly Waranta or other Perlry 9ecanlres. 'r IWing ihB Welrprtte, es menpya becomes available theretm. E. Tnrmmnrron nfneppsda~ Ilse al Morrava In the Oebt Service ReQulremanle pF arW the emqunl in lne Neserve FUnd leralapvm subfepl tp the provrsi0na hereto kart Bquel 1q me-snare amount al tM the hogwartrgn YV rM: aM Ihia ana plepp0 shell be valid antl DUtstanding Warrants and any OVtslandlrg Atltl1llonal Parriy •ra la antl Pdnty - 6 alter the date of she lust Securuiaa,aetoan Oe0i5ervice Regv~renrente. ne Warrants; antl the moneys, ae '.he Town end hereby assignotl anp th rr m des awrdres p w arty Aedenlplion a0ae or PegempliM Ogles 4n tll impNdvtey be auyecl [o Ins 'g tend pptlge wrlnout any - ony Ir ng or turmpr e a~, m whits foe Tpwn mall have eaerclaee Or pnall nave ppllgaletl rtep111p exerclM ns aptim to rppeem error to Me rreapaChve motor l es any s f r gnmanl arw pledge F or r Warranla, why Aatlrl anal Par h Warranl9 arts in t e p nhae pad lm uo l aMll have priority OVer BrabYmOde r oDllgalianserd ndpeit,asgl the g h pad lnaealler m i l entl n0l trued [prdvltled tool, ley fcl me purpose pl as nprern Iitorwise expressly ptl lha Yen of this eESignmenl alts pl this 5erlign SE lMre shoo lredeemedtobea Cm0.t1 tp Ins Reserve FunO d moneys, Feep01 Oe vslid an-04ndrng as agairtsl aN 'Ir9 elalmp of Y hIM i tort. Sacunttes and banx -0ppesits, any [ rrrbinelion Inereal, accW led lpr V'm any rlne.wlee egainq the Town lancepl dna.wise axpressw orayla.d. other aCCeun1 or accounts pl IM Town aM repmclea spleen +« me vawox at parrrrg Ins Ina W renb. a cool its au s repuirad'In SedlUn SG and 30 hereo} la earteppaaetl In the Prlncipel antl Inreresl Fund and Ins Reserve depot Fungi, anon oa aeposlmd in Ina Acgdarhon kpsli Pons ana anau neared andwdnere~n vnyaa p B Rl a anon I Saco astion FVnd except it{monrys he ACq m ns hereinolnerwiuexpmsay prori~eea.anenbe eerwl olio one pale pal Irom hens m bma adery Ipr ore W pey,ng Ins Cost 01 the Prplect the pUr rn Re e B BM a pledged nerllp Airy ore lug re 'mng rn Ins Acquultion FurW Iler nom pone omOtBlion oltMacquaillanpf lRe P[ptpq m0y he Prinupalprq lnlaresifuM d a p 1awW onr me etlr us M Inlareal Fun0. may Dee sueed to ne8ylent only I rNan e d mea'la"Rend ~~ top Wartants m y or rosy ee uyetl la acquire Heal Perrt Olnar real Prppary tar perae,rarealimut.eppn nurPOUS rn ey t oa e s ~ nerd; t rpa n T wn he Ta wn ma y procswae pl Ins Werrdnls c dilee b the Aequisihm FurA, wanaw sratna aaer. m per Ina hem s.rac. maim mr w ' RegwrememE of me warrente a the acme . neceme duo wevenaver and !° lne lalBnl ra m Prmr mpncyeiErlne PrinCdrwleM lMereal FV nd end T e R ve F r a morwy6 dMrwise r e PRm uc ,r~vpriM~~ yailanle lhereld ~ ~ a our cnproc la dMray tlbngahpna accraea antl to accru4 ~ a91n pehafmnq io rnr rrolect nny mors+pys w aced :ne w mnltrel PmetOgep Herrrwes lnnrepller rpCeved am "oI needed m mxl me qe xemenn Inter[ Tran ay won m.eal~wm o' 9en~cea parmem,a equ,remews sepdr„r,,ae Asaine aa°rrtyc >neys rn wcess Iherm+ +irrrsl Fvntl eM IM omeemp~ o ae.irpd ,r ma. ho ,~~a'~ a~ rM t ann Oufatpad~np nvrr quu~ Ip ce upesove nFnrttl yea m hens tp hens to Ins n r„rw woe eratrrtwed m as al Rp• miners m Ins Tax F.,ryh acre En..u Dr. onwaaetl In ' i I 1 "'2` i A: PUanane Tlmgal0apoeln. Faeh dlM ~ ePaauY ryrlm cnatad. in 6sctrort 6 Mp1, IM ' _ ~ lotto Trdnbr Tao :Puny IM tM GlPdtl ~ ImprpwnMlnY ana OOM Bpea FUrWM IG _ melPirrwe M e LonNMfdel Bank n a'boak ~ eoeiamtLrol ~epa la aM apart lrom allaMr a[aWnSl prltagr pl ell T6n11 aflNSlaeaWnl fWVh' 1p Pla awPalel harNn tlnlynllw~! I [hMldie. Fa WrpaeM al InWNnMPI aI nw MYa, n hlno hlnln preranle 1h^ 1 ' i allimrgeryapl mnlaye aCCdun4e rofin enY 1 YM4ar mpeauenaaekxoW wore pperWAnpla IM PNtlgM Pwenuaa Wte loch tuild Mtl MY i . tlw.luntlaolrmeTaxn sabeeaudlshsanlNr y 114. arainancx Such aaa aecarmt .Iw na 1 earAinwplq eaerlne b en. lunwl xelMl 1 rquha0 a qumilnd GWy ara nWe al Ma $ula ~a~epaWe~e ~lq rr~jynw~g/bY M9ne a~ F ~~ Y PurPau eAfrN. MM the w1 the t YwlplXlp Pyrpyaw of ewh ILnaa ar 1 Ivy Pa/PON IXlld alll eH rlaye[IM r - ytlalQnlna Pvrvwle fM Mmh lurltle W- 1 ' eCGWnn. F.m Pmroyei WYmIM IIWI M - Cr1ajIW b xle prppd atwk aNalml nw bIN I NM M aY Nirftaf harHn tleelpulM; 1 _ ene..pt Rlil wfien any even tlde ehW-pea 'F emhwrrn:m w~ilr6irrtiw°soln ~aian~~ i M%t anaetlala M1aNp dW. 9. rowXmMl 01 Funtla ympleya IA any V The Vai! Trai! - Jaleuary 23, 1980 46 • Tnn11d Tu Rwenuq xa alwklp MS iu IMI we hole art' anY alhx Pe ty°n6eWrile~ hersaharanihdrsaea to be balietl Mdlromllme to lime OtltenMlnp ar epulnwyam ralebh• aec~rea W a hen an tneNetlpva IlevenuraerM IMII nor De enupetl to any prlorRYane orer ene Rerenuee rme aPPecmlon of the Prmaw eaerawnol IM limea bmee of IM n 91 the Warrenia,e~ry Ma~liMel Pen1Y WaWente aM any elver PmeY Sacunllea, rl aBVnQ the Inlenlien o1 tM Toxn C4uncll Inal [kern Mell M ne pnpilyy amana Ae Warrage. nY Adtl~lionel Peri1V nlenlme any any atMr Perrtygxcurillea, raperaleae olaw IectIMIM: tlllbronl Ilnpi IIY aewy arN tlanrered a pwanw m P.tlrr wa.rMle. r+ahirla bald AUblhi fa !M IatiMa n.ya ' wnpe by ine TTOwn~aar, proynN are o Aean~o~el pamr WBrrenb or olMr edanierat eerily SewMroe [mltnulmB • I'bn On Poe Rpged Rarar~iua~ pMj Ilwe nw~M~[Mn Wainme,e epenana.lnerwrl ra o1 warrente ar mnerewnts IM aecunriea +BWna~np Bllon earl oltM Werrents.eewgae belpro MY Iucch Atld11Me PerilY Waeen~l art olnar atltlirlertel ParilY Searilroe a pwrhauey oranwur Ieluetl lexnutl~rp {sl any W rrlYnla l(i~ltlnr Pe Cry ~$seuritilea rcl~undlq Atlekeryl PemY Werrtma a ePail~anel Paint' $epunliea, aM IIIIII1I1 InV SuaM9lwte Securiliel eepermnlee+n Section TFnmediana rmv,..e,. ' Vail 4 Golfcourse Townhomes ~~,~,,,,~~Y~ Phase It ~ i w.~• ~ - s ~'.~ '7L :~% Iltlllllwle•vesei:n ,inrtn,r ~; > ~ r ',y~'~y~ ~~i~- 1>ttYd ~ ~~~ r pC(1! ! 1 Phase I sdd out ohepd of schedule, so we are eepedding phase II with o proJecred occupancy dote of December 1980. -. Yau oan hrna k aAl Gotf Course lo[otlbn... Speaocvlar Gam Rprr9e V.cws... Superb vrooded seduslpn... 2 fnlles from vFHoge center._ Clore ro U5. Forest Setvlce C.ands Oeaxmding rro3urd I, «...r~..~ .. Pod and Woi1C aCC . iJBOrgolftlUENrol6c Onrl re9arulT... Pon, ofl the 1[nttery, _ comlats a,~aornrenfence of one of Velfs finest rcM..._.,._.. Prftes #or y,~ four remolning Phase II Townhomes will range from 5363,000 to _ 1387,000 depending upon choice of location. These tx15EOm dpslgrxd -.__. feature o spadotls, sunken IAArg room vAth file fkepiace and prtvore exterlorliedc. Tfle f>uge nxiaer _~ _.,..... aM the Iwo addvlonol bed~oonu hwr colhedrd aelllrlg, loge closets and aas' wndbws. The master bath tas a double Iovptpy~ make-up . I;o . [ ,.. :., tiled sigwer, pod prlwte Idler vea.lheee koseoordhslllwlh mdon oddtlond hdf bah. The ulYgtle [sHOrTI cksltlred .,__ _. I kBdsen has premium lNsr Flne gppliarxer, k~duding p mldrnL+rnre oven rnld rr .. ' . A bledstovv bar odpilu rhe.Nltdeerl and Inge dning room, The sepaareroundly/ppomorly has a deluocewnther/dryer, lov+~dlrslnlr, and storagecobinets, - P.:~:.:,,...-: feahxes hdude: tubwith Ite and plaule dromolic skyEiramum,lwo I.'tlr gOra9e did la+rhtl landscape pIM MRM~I Campfensenls fie natural W+ooded.,......., ~, Of tfle Slfe. for oddMtonal Infgaelmotlon, contour P: Suk~e C 547 IlVoll; Ldo~radtlo 81657 Shapiro ConstrUCtlon Comparry Telephone: (303) 4761280 . Il~est~rn Pro ernes ir-e. . p tea! estate sales. marketing & investments We offer you sound tea! estate.advice. Crossroads East, across from the Vai! Transportation Center 143 East Meadow Drive •Vai! VilEage, Colorado 81.657 • (3d3~ 476-5544 affiliated with VAIL HOME RENTALS • Member: Vail Board of F2ealtors:& Vail Multiple Listlnc7 Service v '~ .r ~ ~ fF.le"- . -- 7 i 4B The Vail "!`"Artunry 2b, !A(t0 warnwn• mul r,m w Ial,uree. 111 AbxnN dl Olleurt AI M lime Of Me IoppRM1l ut MI xpvlernemN~drtliReRee df otner V,e4ominl euSMlu~np Ne IxwrHe pt Nw Atletlimlll Y4rtY Wrnnh ee WMnMtl in sectnn TJ Mrlrpl. Iw Tams Melt red be In d4aLll N Rh4rp ehY veYYnlNe rpVeetl by 6eclpn 3 blfM. 171 Hlllpb RwentM TNt. fAi Plieeed LISTIINGS/RESIDENTIAL COURTS1LlE 7'OWNHOMES '1'Eircc fx•cinxutt. ItvO ttncl onc•~h[tlf krtlli ron(iontiniunt, t'nturnlsltccLa bruxi n(.°tiv +tif(•ritt~ Incntc•(1 ht k;IKhurn ncra)ss front the Eiacquet (aub. Av(tll:tl)Ic I{nrttcdirt- tcly. rlu)Ice of ttvn...S2U4t.(xx). - 11EADOW$ROOIf NO. 9 " 'E'~~'o 1)c+ir(xntt, anc lruM concionth)Ium ' witf) irtrl3Ftl furrtiturr, (;ngcl ]rx-tttlon cvl(h !r»r rnmmnhr :tsscsstnc7trs. I~rc°sen(Iv rente(I, n~':tllttble SI)rht~. 1 s)t;a...Sa)„-,(%). Fc)ur lx drrxnt) fl(x:kt)f!}, 2 .Inca 3/4lktth5. 1,A24 R( uarC fcct. E.oCitted an cinrc (;rrek In I:'IK~o'rrz, excc•Ilrnt quality of construCtlon, recen[Iv cornl)I~ted. LIONS MANE 20l ~' I Four lxclr(x)m: three lYtth, unfutrtishc•cl '~ crin(IomlrtiC+m lacate(f In t_lnns 131cirle. t ,PS) square fear, tnrif{nlficent view,. Ftv:til;ti)le !pr irnme<firtle ctccupatncy... sta. ~.(xx). • is t f ~. .. ~ ~ :. C~ASQLAR DUPLEX,. 'I'hrcc 1)c(iraom, two :utcl onc~h:)If hittlt, citq)!cx unit In the Llons f~lrlf{c• Etrc•tt. Lets of sun, Ina~nlflccnt vlcws, cxcc•11c•nCv of cunslrttCtiun..\rnc•nltics Inclu(ic i)assivc sr)I:v hell, :urisutt with t~rc•c•n hnusc, nn(I I<Ir}{c dc•rk :Irrn. Anlicilrtlrcl curnl)]c•rion. sl)rlnuof 14)ttf1...S2;Sf),+%%), i~l~EnxnwnY w~s•i• yc. '1'ti•o Ixvir(x)tn. Iwo li:rth furnt.•;hccl cnn(inntlnkurn fret+tlc•ci In Ihc• Bon's l;i(I~(c ~trrn. Fully rlivislhic' wish tl lock~nif hc•(lruonl/Imth. wncnlllcs inclut[c• :ul(•qutrlc• lr<vkfn~, .vwimininf,; lxx)1 :tn1E 1)k•t{5:{nt]y lnn<Lsc:tlx•(l~ nurrounsllnp;.5. c;(Irrc•nEly unocc~uptic•rL..SlI):S, ~+x). LAND l31aiI~Y (:IiF~tsK l2ANC:1! f.nt ~tl, lilnc'k„ iis•rry(:rrc~k H:utclt,1=111nF; a. .\ vinulc f:lntlly 1f11 nvs•rlnokinu Ih(• nth Ininvav :a)<i :I Irrvk..\ss1{In:tl11(• In:nt.,, sl;rt~xx{. Chaplin ~ Companu I rrn rnk I x[. rl rr+1131n-d irf ikc•r F:1 If Hour l t )rrtylrr-iirr 1k(•r t~'illilull ~~. sl rnww NrI(•rao{{--Iirok(•r 1' Ihn f3. .-AlenyIlrtw Ihxepl. are it tree Town remw any' n o SualhlBr cl tp arm ~~ IRBIBby: pr PMtlfpep3RBVBnuena'wlp~Me peY InHnenr B} the reluiltlinp werreMe 0< rBlundirlq uulbe 'u of spit' w:rl nlnti u•xuhl~e. nloi rewnaee~. ar ThB YOwn hereby perllcularly COre,unb end agrees with We HpldBre 01 the Warrenla antl antl mamBpertalnlrg SNee„echanelldeepertlolils cpnifael withuauch ROltlers, wh{eh nBeenenh arr] prwiaipna snarl be keel by the Town IMer~lalnaracnlil havB tle¢rtVlu NyntPaid sltd tllschargatl, t0 m0 eltud antl wtlh the purppNB Ihab crJinarAice Np, Ir ~npnuelnceaM Cd?xilp'~il era .~cw~i~nli io oNB ara :irndc~ ~a n w rNro°i IdBBB repealed « amOndBd, xwpt ih4 ore~runcB Nn. n nee even ndad bi Ordinanda N0. 6, Series 01 I$11, alrtl by Ord Bernice N'vo9~zerr~e Ipeenendexe~aenaE OrW rrencs No. 3. Sen'x al lgap, InliBduced m - nePSmOdeyeatNlsOrdlnenCe The TBwnwlll ~. O tliene~nwl No. yl in en Or annnerNwhpc~ weTb ~~«X ~.ne Rrvanue M the Platl tl Ssles Tay RBVBebB xcunly br the x~rrenls, indueinp ne tlmen[0} Seclgn 5 of Ortlinance NO.281p yy wide Nr eddillmel Trerq}Ore as Eyempt Trenale2 Pfeuae T1ern to Page 64 ~' ~ -: i'ltd~S if aw.. Outstanding views of Vail Mountain in newly Sun Vail wWithin walking distance of 'the gondola. Financing cpmrnitments available for qualified buyers. Five two and three bedrooms units available. From $163,500 to $184,540. _ I IMbER~INE 7/o ya~,r~,. PROPERTIES ', tiulp• 314 ~•al ViIIlfAlsd lumk Iindltln}t t :ar t~Illay;l• 286 East Bridge Street Vall, Colorado 81657 Irr itil f111irr lYr: n>,•1'r ~: rlt \';tll, f:r llN rriulrr F{IN.:7 ' ~ Village ditice: Above the"Dell" 476-2113 open t:ra7~Y I'I N ,Ile • l; {I l; {I ~Yif i.! !! '.,~rniilr, Z.... - ....a 1~. ,..,rte a.. i.- sn :.. ' Yi J. . r~"~f•r 3. ;,.I~ .. ..i -raVS.e. ,.. ~.~M.':.. ...-... .., ,w. ..... ..~.«. .., . ...,+r2~,5.... ~. -SUN VAIL CONDOMINIUMS • • ~• Thp yai! 7Yai1 , Jar]aar}• ?b. 19R0 Fyom Page 46 ~ 'i'rr»; °I"pa T co; Tlr Town enli CMI~e"e q NW. IMeeM. CPmPp.nce PY~FT01 IM Yle pwbw M.em, en c°ele "rrw in nonnetii°n wiln rt Wenente. peY~~en! °I lei RpWremenle. ar wiM the Ta °I n ramer•arce w•Ih a eereerMnr r4nuinee ~n Ilue ~. :. . ~4 T ~ Kraf# BBQ Sauce ' ~ 95° ,~ ~iLightSpread PrkeY.:~.S~sS I NreR, m ~~' Heet Listei•ine S a het#i Dinner ' ~ ~ ~~. aee LIM AnN.IrMrw MIbePIW. p Y ' Kren. WI~55~ ,~~ 2 r~ s1 1 u„,: $228 Kraf# Dinner 66~ cnicFen ,tg. Salad Dressing ~ ~°°°'~•nd,~eT$~Zs ' /~~ ~1 'I ~JF~ ~ mem pr. s ~. dC~`~ I IV+ rn"e caaa~e rsu. ~. STORE HOURS ~ ~ Roka Dressing Kr.n x.85 Sunday 9 a.m.-9 p.rtt. Crest Cunttrex ~ryJ©zzareffa Cheese ~e~`n ~$14~ r Man-Sat 8 a.m.-10 p.m. ~ ~ T°°Nro+ete PNCe kww-rNF °rrleex. C°f°TeA'Me. i - ~ ,~ $~47 :~ a~ $~Ze Sandwich Spread 5.~~:] ~s1 yz ~ 3tgrasu~, ~ , r ~ k -~ .' Miraele - - Whip. ~-Alive Juice Ice Cream ~'°"°p° F'«'e `"p"" Macaroni & Cheese Miracle Whip 3 ~ olnner.Itrea ~ Kren. 4 Conked Sgqaash "~,:38~ ~Jena'a Pura Botla ~:85e r'te' ~ 0 III ~~. Froetn &re de we. >Mw et . 14f ~ -~ 1 ~ Iti~ Mixed Y etahles '1' :4Ze ~Ileath Bare w 95e t Qun~ Frpran. deu.6t M' Ic. Gneen. Frocfrt 8.y Hf ~QraenBeans ;~,:52~ ~,~IniYlinta ~:~t.t9 ~1~ frp,fi: 9eW Tt Ee Y~m° froam. M- Ise. ®Ahodos Baugh r=1.08 I~Fudge Bars ;;, B5~ ~' ~~ c ~ ~ ~~ 9nen rreeen. Seva I If Ck°calMe. NnoW SIw Fr°ren Save Nf Ip\ , ~ yEEti~_ Eggs Cheese Coffee Ro!!s \`~ ~ ~ ~'c~;"~; WwrM: lMye pnee0e1PP1l, NiNf. H~n1 ynlhsre Sell Mrf °-.m ^p°°a°n'» Vefvee#a Cheese Parkay Margarine credo AA. 6.K seem ] Gn tM. WrIgM'e Sere 91 ` ~ Q Q Kr.n crease Fnoe, nrefl. oL.n.n. /7 i7L. , ~ ' ~~/1 ~cr.axtful ~. frrexcr~ru+ +~ I\ _ - • •. _ The Vail Trail -January E5, 1980 66 ~ Pltgpetl Rarenuw mlpM tq Mwrve FUM WII neuaens0lelyenaunly.arW en6 malerYllY ImpelrfN M IM mgneyt CrednNtl to each accwnls an lelicn OtlntOryq Gelmt. Inprtlar 0¢b[6ap ri u~¢~rro eerpilaa th e Wanen Ur SO ~BGI eRe~ma~io~ thBTUOVAO n ft p ec y pl UNIe IXReEem twn Oates an wh! n T i Y~ Me 1 tlireclry xrontl peewnrlo me p lho own la gdpuatlre ratleamwanema wblecl blM IM Ilme br Ne gnmanl of anY elm for Inlerwl city of me pr ~ea corcernin0 awpu5 neya In Section 50 ane eablml t0 Seglion 9 hereof. rry other wtwhlw pate 0.'B ppm maw; em Inc Town shall rwl Q Aey110ne1 SecurObs. Tire Town mall MI n¢reellerlaeue anq hontlawMCUritiee gayeble IirBClly be s perry b Or •pprOw r le for enY wch eeeent.gn afar Iram Pleegee other Men rho Wirrenl9 wniiMUl compfiange wrlh the of Xeeping ahre any pl eugh agwrennenta wbh reepen 10 pie lewanop Of nerclN m S loriritereal-#I lllehme AtldRUnel Ptnry Warranla, MAJignel Pertly y y IMBIImean4ollntareelisaylBnp@tll~ ~1lonh rOiOb ¢~110°RO~s or alMraerurilles cI NBIgr0p0onQ plwlelone,iuph R. Olher Liens OIh01 meG a6 provitletl ne[ellmanl ftallmentt el euCh enlen6i¢n Or praitpemenl herein, IIIe1B ar¢pa hens ar MCUmnerenmee! enyn0lwe wnelFgarerenwaQainetlMProlecl tlelaull any pert therq 1, dl gnglipeinal tba Pletlpld the banepil Oi me ee~IXl ty otlhh Pt upon rite prior paVmen! m RpY¢nueatlanvetl pro be tlerivetl 6. Yispowl of Projetl PrOhiblletl Ez¢epl ae nr'I«cnlupgrshinaparm:n o°e a~am~e~ei gec'I°n ee Rerwl. nallnn avlnm• °8" e e~r E e l tl ' Wean e.tenew - ' yment ql Werrante. The sown mwrtgayae.pl etlg tl a mm%eaei~ e nal a p f - olhenviw tlwpaaee 01, unli[all 0l the Wernnle yy pay the Debt Servlp0 OFe W have dean paid in lull, as ip a11.peM Rervip rery erranlN thap1a000,on in IM mennOr ipecihed nareln RequirBmanls, a un Nee proviefan hea been mesa Ihpalp. nlil dre Warrenle nave re la entl Vn tfre mupOne lherelo Biro IP rite pus Ihlenl entl n etnewlw assn r0tleemetl, intlWing Ihoul Nmltal~un. the terminelion Of rAe'pledpe m hemin aulharisad. nCIPBI entl lnlereatantl RaFerye ' T. Surety Bane6 EBChCRlclalpolhp parepn~ na pal entl lnlareal Fun06ntl the hwinp wer0ay a1 any Pledpetl Reren4el M J ainum FO« ~h¢h.n anp n ~~43~ ~~ you want from a store... nesan Chee~eo r::d ~ ~.~2,s and a e age Cheese Laprn ~~:~ 1 g° j ~ little ~ Beans Town rW 15tC. 3 $1 Uw t1u ~ } bit ,eTl ~ ~ FU. ~` t Cocktail , $5 Town Flp ~ pt G ry J.nlury 20. 1seo. ~""T".'° ~ "Cpl more.. ~ In Ytllx 1Rt, 61bYeF tltp ilc I~r Mein Lt C aw ~ SS „~. h ~ . $ oy Buy ace cream ~„I, ~,s Price Cutters good seven ties G~~~p~.P ~;:99~ ~ful! days at Safeway! 6~~.r Paper, Towels Wva, ~~~ °~ ~t•,a~ S4FfIf91Y'wF ~,e Orange Juke Safeway Bread Premwm, YI-u. arc pl. {Honey Bran Bread "~ ~ 59e yaw 5F ~mn Neftvr.blth, aen~e, ear.>alnXdrY. Jalaq¢ao. French Onlgn, Ben¢n-onion p Green Onlon Iph1Y. Save tpc ~Mrs.lNright's Donuts "~: s1,39 Fwhiaeee. sere la. {Blue Ten9. mill Bean p Chv,aaar fYleeae &Yp, Gam Half ~el~aff ' m 53° ~GlazedOonuts '~;1.12 WnOmY Sera tro sera uG ~fFlourTolilllas ';w,:59t a a 5c ~Pacan flolls ' N,.'2.05 u Sere lac g ve chccalate Mlitk '~~ '2,01 t.owtae. LuCeme. Sere ac Drinks Pop Detergent Softener Flc~l. 11~-C Gagmgnl, Sew BG. 8eve 11t qn 8_ Wnl[e Magic Sere 5TC Fep~C White LlaBiq 7 cc~\y Q ^ ~~ U12~ez.~ ^ Ov ~$~~~ Sara 2V¢ ~$~~~ ^ Mx Nn. ^ Pot Pies Qrang~ Juice. NkrcnM lwel FIGSM Nlnula rae~e Froren ~ ~ ~ ~ fY;t g MN. tie • B~.The Vnr! 7}pi! - JAyYnary?6. 1980 pp~e t mar be Irtn,.nr,mrernln w BW xan Debl ae~Wda ApailpariWr,W or Ina Wunnb. aA me moms beeana sae spmeana mawrnwaarme WunmA or coon any Red•mpiWr, bxs n pf wn~cn ma rQwn Mw Rase •aernsed a 91+•Ic new adigatw ilNll lp aaarwN rt/ pylOr re4emgran dptlon Ryy s pW M WerHPH br 11eYm%1 Snen Toe r dnat Sa0uriun Nell wn~~nmtn. axeeaeih uolina~:e~l,~~e^ i ~AeOtl upw, berww nc,hTuOee ibr,easuc~R ~k aflne um• of me creation a men%rdwer bwb w me Faewer Sdcvrldea BRAY a e,AleCl tp IQ faWB{ucR •vxIWNUYe{Wn9edadlDaentl win iCn¢tlrYe. acTU»l ID D•rar,e prarl.bn• ary a aM•PHa of WanNAa,Ndx{. Events O} netaan. EAd, a} IM bII019',np >lE0TI0N D. aatryelrvae. Mrnle ri nfnOY tlielarae to d Erttl b Wnen en wbr arrvwe gegwumanH PI m• wnsbrme An Event qe oebuln Weirpnle Mye Aaen duly PLd the pNdppEe aM ;,] hdJrgeymaM d Pnr,tigl w Piemhm, uen arm All opdpalbneh«sundAr {hAll lnerYbY FeYmfnl pflM pnnalpel rN NyollhaWarrAMS, badacnupa0aM lna WenMN NHI(ap0 l0rgn d any prig Mdemptbn pre Mlvn dw M ~0 tl~N,nnyy+ReO SO~be Ovleantlbq WiInIA lRa cMnMIIDn tlnrewdb, pr petit, la n01 rMtle enmedlolM IY~r Oe~ WyaT10e1 An~An the U,Rr at melWey pr b~~gcMdnpe lo~0dor Town r,sA plACftl rn a%rpw Dr In IrWI W41n a ~eampign. Or DiherWba TrulS Bank b[elee wilhinq WllhOm the Bble, Ire Nenpey,weni ollnUra{t, payment of any m ay{ Or red«al BedurllNa In nn amOgnt mEIAllmen[ Of IMNeII ra n0i math when aM aanrCroMllrlElutllnyy lne known m4rrimgm ybitl lama becOmN dgaeM pnybb Or wl1h4n1hMr Avlileph Id 10th Outppe 11am FetlelAl I'Nl aey{IhefeAllar. Sa Wr,trq .n W111CR aKR Am0un1'wRtllya..gMln ~ie a,n) lncepJa Ibis sa Ranprm/TReyT~awn iM my , ~ i .~_ '," Hr1'A.V ~ Sh~O.V .>T ~FC.1 t]M r~..~yi era •arM mBnr,m ea Ina Iage• llrmulat We. Tha of any oulerandisp snY m r,er I,mein 'n q,e TOwn~pranyy fR• Igees of a'y uabdlbulor a ry eu NY d ly. nmaM Eaun rlgnl a O ma+S q trublee lherpOq mutative is any other the exeryi5e OI any rignl 'halt of any Holtler Meg of nny olner rignl al °iwber or any warr.m oI me privileges, rlgma m or parmitiaC In this atnmWae mwldetl ar q dnersbe cr. Hdeera OI Warr. narre~n for env ar sl Pripr~I~es Since then, over60,OpOfamilles Full mdrdhs, before you have to Capp will assure you of a u. dnlwitwie, d P tr~vebulkthalydreamhrnne staffhutlding. Youdoritneed permareentmortgagewhen dbgal.a 1oa~y~ISOh .. ~ - .. a large down payment your condiruMinn loan Is antra" tnal Inermay paDedarRnRSngm ' - ~ ~ ~ v31h Capp-just your approved. /utd the mortgage ear Maam PI am mm _ ' ! ~ itdin lot soda ~°' ~ bu g interest rate will be determined n~,i. °'amar daoc o asr the do°iaipm ~ _ smalldeposil at the timeyi~»'reflnishingyair m ^Inas.rm°.°" aurcaaaer area am a may be ail you ~~~ home. By then, experts predict ~ t l iN b ? - eklenaaa to mm. ~ "'°0899°"•'ntq,w. _ need to get _ - _ started. ~ ower. ~ interest ra es w e Capes'unique financing ~ ~ SECTION 1t. Amf A. Prinilepa prAMa • a Constsuctlon r ram lets ou build at ~ P o9 Y r geaemBneea 0.. Iher enu am _ :~a - ~ `}.~,..,•...-_w.,-_.-~ Loan As a today's tow prices and borrow ro„";~„iw~°ap~s~ qualified buyer. Capp can at next Year s lower interest the HdwBrE d ss. •mw f°' Iha °"°' and saved a bundle. You can ' rovide ou with all the P Y rates o a Irma r ma mplk ainance a Omer . s plans-~or select from CaPP bring us your awn and get [anstructton money you need Your New Home 1t's something a,iaianarng rewnar rax,ed wr tna purpa , erectly the Marne you want. to Finish your home. Ask your Capp Represenletlve about fire YouB shouldn't wait for aYiy wernnls proawBa li tying mntri,men P C ' special delayed-payment longer. }IOUSIng prices WIIt hanging al IIY m~ ~rar ar in:na,B You.Bacvmrs The Cleneral Some cvstorners finish feature inevitably go up: Ipar 01 bnr oY N,audmard p, interer Corttreelor Aker Cappcustom- . their new home and rnnvert bo Act now. See your local Capp Igt sea°cinp xI ' l erects end endoua your home a permanent mortgage~lYefore Representative For your Free . ~~ ;~;° Ina ~n e on the lot andEaundallanyou enyconslructlonlaanpeyments 100-pageHolne Planning dam,us Inar~pu»~ ° provide, you take over. 8y Fall due Guide, Ix send the coupon w.rr e~t: or P doing the finishing work your . below- ri°' kie" Es° la, ac nereol. tna Brea self-orhlringtredesmento C~'1PP lJ~" 1y7~"~' l177 77 i / I ~ p1tlgca1rBV8nuP9B Ini*il'dIR°acl~r"ea n help, you ran save thousands L e •atl°elipn of tna comperedtoanordlnarybuilder (~i Et/F~LS.•+••.~IC7SCt0-yIPIF~IT pa~cema0 a of wan h h s Ileclrogll constructing! esame ausean your lot, Of course: the more you do, the more, you save, SEE YOUR LOCAL fAPP REPRQI9EHTATIVE FOR YOUR FREE 1DD•PACE 4for+E Pt.Ar+Htna c~foE. pit Homes cretite ~ n In la lon,you wan pp s 1 o gal3e me wer.enu n,el mp r. na.e YourselF House"1° program. Capp wi[f holdyourpdceforsiit money for qualified buyers, oases rot a vxaema oalsieeretbn .n - cortlwmuy won law. _ 1 _~~`".' ~.~~~=; ~ ...,( ~' a pvlsipns ipnGerninp'I~ Pledged fte~pn,ea fwa[r~ment V •igni S _ y;~ ,more ~~~ rW tn0 prpCeeai (Ina Werrann NplMng purpprlmc tp befnepn V ~~rt i1• •prq~ ~{~'~'{~~~ nEram allecle oclmpain ins nyM al any Holder n} 6utn orppra [,On MA8T~8~ OF sW rR~Yl~ v+`++~r+aa++r+++~ IsnYWxrNttOBnlpn¢thepaymentoflha ;niaeaandahe9iedW oem sarr~re gegmMmmtbeYebDennecuo" rtb, its N¢nkary or {warramwmeapugauondmB YOwn[o aaa u,a aummlh al ~,;'~'~. _..: Tt]r9B bedrooms- -L&T~,[,e IalllXlty-IAttd. PO~II7,- '. , '..'. Her ins oeq Service-RNndements pt aaen .sooting enys"cn ,n: ,;`~ s..,., waranm to Ina Holaer mweor ei Ina time arw nDrwaentanae caps T9vod11dor19•hSlfbBttlB- •Redrvooddealts~ ,.'.` '. tneDlaceexpr°aseamsu°nwarnmambtna ,mpullarinarproo+ Tlled tintSy ~ tls'6Alllde YtBB,Yth- STenn-Air z~A.rt$e LJ C},E. sp~Ii~n~B; aDanneneM°peP°na y9n~deraPamM, qi , . ~ . ~ ir'S7•ep19,CB- •Br3eI1tC SOllttlel'Il OiSItT'3. o. puns UDOA oeraunE upon the and n waucbrr or ~7_~~r`] happenlnq f ervy Ot the Events of Oeldu t as (21 prppl er Han Tarp a71d Ot]~llalf gesage- -Located on Tovm U2 ~tti; f7118 3bUtr8 P Domed In Sect On t0A hereof; Me Tarn, Vn warnntB Or alrre• ae " $22$,000 x '" ,wrtnoia~diwanaHOinbrmanwaPBr¢.le°n aar,.n I.ew nr Y wmaemi red wndmaoYlamna ng "al, ant es a ode -- ~-- :~-?i ~-~ ~~~ cDl,pprq pendr Ml® IheratD b ombare.tlNe sne pth ' ~6!'Bd~ -' ~ ~.t ~ - woteEt ensmpeae>wemesocuMVCreataoto+ ~ogel « wtn the a~ _ ne narmenrollne rwxr°nnane wappnsand ,,,,tw maybo qa _ p 10 in ore me payment Ot me nebl Servke need not Re eckn°w e ' - Ysi2 Vak>.ey ~ .C~r10II ~ '' Reap remama mwnply a Ina soma become ae<nlariay d Ina Ta due. a0nn eon pmlod of tlefauii, ao Ion rtWmbar Ot etlinandel Ir'oS t11Tt37er.n.:~,.....st1oII C81147~67H8 or 47$-1813-.:. -'•~'« ~nyoiatnq. t~i.n manrwmw"9.aafp an~o~g•e~ nk °r nrestca,n ' ~` l~ au, led9 f f ' _ .._ _ '^'~.~~;~ ~ >,3 ~ ~ v,a ~ ~ `~5 '~,-~- ~~'~ l tnestel ' wn',c Hen ~_.... LtW obta tnB,wn ,re exhlb,tN ucn r r _ ~' public atn« Daicl ' ~ kmwlw Aements el ,, w,ih aVCh dePp9npryt Wch cerll}iute: ' . but Ehe Tpwrt CI,•rk a%nibn segmre R~ ' Csaes wnen he tleerc %. F. WnrranN HPOn I: Custom Homes Construction Flnancin Mott a e Mone a~"~,wa'rB^tbesh° $ g 9 Y __ ~ : ad spa aetm - :'-,.'~.-..,.~J:-t W[w,eee l0rmma Or A Unique Idea In 4946 Cap Stop Waiting To slay ahead of Buitd rtow-Borrow Later smash by.M pre b dthe"~ Ish-t- - f t' ttoordernow Ca ha mill'onsinm ti benatnaNenn,mear North genver Sales Office: 520) W, 48th Ave f3o3i 455-3678 South penrer Sales Office 26b0 S. Havana, Suite H 13031 750-7511 or cBN Tpil area: 1-(800)•332-9535 ~• ~ s L. pr is rene«ea, irtp.pebte or tagarnti lox to p mglai .mqum m In. wunm• Ines D Ina aelam n mar be pmewml ro a~ a. a+ r Y,nDn•he+aurm.r. oYUrane~rq- pledq•d Revenues an a oelo , ro rl,a F W rgerfOfinence d nutise TM Town a a,batp urrrom arm mpanwmlei e. gliwedie• Id nefeNlA upon sne nappenl.,p and nnnuanu I y al tna enn. a, in Ina weM d Nmmpsl and InI««t Yru'rs na:eaner raawa a"a omllanry,p I IaMS b Regn ma petlgeerxe dl ea tl dnnge IewlWly rpuree ip I)0 Cerrbd Evenb of Oeleulfae Arp„atd In 3¢cllDn 1W oared, Ihen Anp In er«Y ceN ma Ybiper Or aYnng ouch pen°n Ol lime an n pertly motto IM , Warrenle, •nxI Co pertl into Ina Pnrclpx end ' d be penormaa by,l undm enycanlrecl Hortlnre 1 rro1 ieee man IDx in ri ipel ,Merest FUM bred ParilY liecunl ea,ncluW,q . to he platllaed Revenues, rtl 1M Or tp seep enycomMMhOnlh«eol.d M d Na WenaritE Merv OulalaM{nq, rneluding, wi n0ul limitellan. a Ir,uiee Or tRe Wananin, n an ¢qunage en0 prdnBd Hole. and oa Ipr !ne purpoaee Inenm H N InelStllrp without bmllnllOn, Isle. u 4 pYlt,tae 1Mrel0l, may prppeM egelnil Ins ObBrpr HOreB•3mad l•af lnM prwmea,lne , larlua ahalrcdllinue for tee. ens • ,TO%n and kb agenla.aniCan andemDDYaeeto 10%in prlnDipalaMOl,nl Oi lne Wen•nla then UI daW alter reap10t Of npNDe kom {ne I OK In prrnclpal amount Ol mn i prOlBpi and to enimca rRa vgnls M Ny Helder Ol Warrants or ceupOnl uneBr m,l Drtlinence ouirrendraq. Ibr demantl in wrihnq, amy p.ocead bproNClantl tp Onl0ttalnengntaol s plan OYlx°nainq: yy mxrdemuspnyolnor wn.acuen.arapedal na HDrdan of me wer,em• a° nerNnabove I + Opprnlman, Dl Receire., An oNer pr eMened ey . ca I or oompetB91 prpcB4alnpmaquaygret taw,inaay c,wnef ailner far fhe nOmpelent turiediclio q mfeerl 0l q'9daA.nM la mateMeny auto l Z]u gWenenb°nall b°enbragptedloall lion. won ma consent dacqulNNrtoe ~ ppolnlment ! a rat r IX An operelmp hll al tree Town near en greemNi d rp t appolndrperecaiv«ar,ecolver• r PbdgW Rewnuel end any plMr Iruslee dFOr the 9ppaili0 pertdmance of soy rµenaAtOs0g,eamenlcontemadYwreing1a01 n c tnM invglviAg he Pledged Revpnupa BMB•ea+Mpo IDltotheelMClwetlaledmia 1 • ble,% IhB Ibn ID Nc re the any pepper I•gel d epuilabla rBmBQy Ch Ordi Hants InareaR« While any 01 Ina ,1 01 rM Warranl•~ a if a~ pMBr or i t l ol 1 ~ n Yblder q Holtlare may deem molt e4l%luel t0 nrMeet arq W BnlOrde the nghla a1gr06aie. Or Warrenl8 n Oul°Lnaiig, NOlning hermit rKUirp the Town la proceed as prdvmed pl {ne TO ac l0aeenee wn, e i,0 1 O W lnenUyy oen'orn any %Iq rmAg wnleh maybe Herein ll it tletermineein 9ootl la,In end wilhOd ' I of dr%herga0 d rayed on epDBef ty [roe eeys anereMry: lawful or n wq BDM o1 any ripM a! any NOlderal any Warrant, ortO require=Aa Town to ref dl%rel,pn Ehai auto action it Any abu•lol likery to a}lepl mElerW llY enO erejuddaity p,e )91aUlt _d AnY RiOYieipn. The Town ACIa9ilil wereldelrWONOlanexDresaedvyal Y Haaw•dtna Oubune,ng nob antl sty , ea^ dNeMi in Ina tlYe DVRCNaI c! 01 any Other DI IhA p nY cpmelnalbn of SrA:n nme(ieB. Or ee pihpMiEp troy be aulnwVZed by Eny staluled OYlalentlinq Penry SaCY"aee E.EV,ea+,re ar Sawnlilmben. Arty requ,Ht, gAlAhon•, ep anann, eondillOne. Otherproyieion d}law'. Alf wen proceatlmg5at c9n9en1 or pmm ,n rumeM wnrcR mb anH and amer Wlalons pgnMlned m r+anp dIn Inb ~rdinance pre n° pen tP mw or in agdh 9nen z" :ngrnnee. nee end memnrrled br the mouse larwn{ at an ItpldeM ordrrW ors may requha w may p«mn Ia M signed sne a me.swred er me Heber airy Drmed. arm Vreacn deleuM CaMinuperar of the Werrenle, anV eerily Securklea. arm IM WmgM6 Or Olhw eecunliea may Oa in of sari attar written nOllce, epee lylnq OIeuR aM nq[,elnq Ina lama 10 Le couppre IhM Out•larm,Irgg. My ncBrver IX see. snY hunleesonpniM loan Orotwsdrmf makwnNl ar e n Oita Ynatrumem M 9mrler tenor aM anon ba YOrrep d may be To: CAPP HOMES DEPT. W C-4804 4525-HORTHPARK DRIVE COLORADO 5PRIfiGS, CO 80907 SEND FUR YOUR LAPP HOME PLAI'41'f1HG GUEpE. D Please rush my 100-page Capp Home Planning Guide immediately. I've en- closed $2.00 to moat the cost of special handling and speedy delivery. O I Ward to receive my Home Planning Guide Free. 1 understand, however, that it will take several weeks fat delivery. HAME__._ _---_--------- ADDRE95T__-- _~_ _.---.--- Ci4'Y_ _-- _~_.- STATE_ __--_.~ ' 21P_- ----_PHOTFE-- _--~- ea„ea and oplsli IMn Uralnanae M1ei Parlml Ik•O Inn ri9nl9 oe Orin moss au of me w Wrranpo'e ~Ihe amens Mi iH pf"YI menlmeny ueut~ary . r may o° ~r.RI„had ~~apvrwlrunp io.ebi tress lane Cap¢dy: g Tn pu ,-pf g' 1 f ,NIB pr . any I rite a Ina ~ in0entrt,pabpe tharea4. t hs hplmng Ina t py a CBria cnlawMCR ea or rw ued,r Iww r Glmby n MhCer m~ °rm.r a:~ityarY ild1k'rt b°~en bnet0^ rawbetl in porletoacl a rowmgai a mat sac p«acn meet. nrcm, notary ' 80 aUthoruetl [O lake wmmsless in nla nernar dhar p,001 w { ~ceo aaYINEIA.~ 11 IWxrente. AnY "' Vr ors r°dr~n sum ""say I. A chB~e m tM ~~ reaampl on pt ar. rte wnrmm or Nr a •0tlnciion ro !M I. ma nee d reaem r rm,eei~n R.rMD.nn, - mB Hele« oI Ire proviaeab saclIX,pn or a teen anon a a piror ro me he" a,ep , orarnarKe. e. moment r«ma. n nc, eel amount y mMllicalipn criplipn of Wmra M6 m¢ eo cant of Ina ~cn may ha mvmree nerWerrenls. The en bnlwBan War,enrs Mar NB pavi5ipnspl ~. A y mod{dcatianE 'oral Cdr c rat l Y. uecr~ a e d me Hinders pl less , rl.+imas nc p'pnm,1nasea"Or or' S,+ar'inM nlnncM1feW YOrr Phew dmerminded RY lop Tovrn CCancln. et Io nn neemBd comvroee popn me p„n„ceua„ aM eop~es al each Hoot ram dots shat e o~ia ~'~n~o rn "F~,ennaeiolme w, r0 rnr iaccaiid tR«e°r known to C:erk artd ra ae eiitn ri°rdr+a uf'N: aave'r, ^ia Gln~ ouracaMg Ptn Sear pi o n~h nee loss Worry iel nar,.e r',opascd amm~nmeM of >, ap cn m a~ li, '.._ ,. '.. Wm0 Elluntt [rrepulrpls, Thla prtllrvpnA016. b Na0 GnnatlrytA. A lAtlslAt,rA rrMA9ure rd aro Toms rntl eher eny of Iha Wananli ace iaaued. Tn;e orollnanu and rnaatirulA Anirrevocenia contrail oetwaen Ina Town Arw the ttohkr ar H°Itlers or the warrarns; and mi. ormn.nce. Pleaae 7Lrn fo Page 6'q TAe veil Trait - January 215, 1980 ~'/ ~~ orlanb&~ C For Sale: Meadow Creek Condominium 7ltree 6rdroom, two end one-half bath spacious townhouse. faceted right n Gore Crak. Fireplace, decks, conned carport. 13eaunfully decorered interfor with dttoraror furnishings. Sp~c{al financing avallAble. Cali Sue ak Holland & Associates (303y4765t;05. , 141 East Meadow Drive Sulte F210 Crossroads Center Vail, CO 81657 - AB ADYEnTISfD FN RDIAD~TR~C~ American Drivers ~. The automatic, sek-locking snow chains 'i7rlnh about i6 You kawr that nalhtng erovtd mount on your car is the Idnd of cornea close M anew chains foe. travel on shabu avagabte in the US. -and no one snow m l.... 'roads. But B yon'reNe would dtg¢e• But in Europe, it's a different typlnlildvingenth¢+idrtthetartthingyau t¢otg.. ~ a~~ ` Without this coveted endorsertxnt, no snow If drain can be successfully sold in Germany. ' WW chains hire been teate0 gild rated beat hY these and other maior Eurowan amomalM puhlketimq. •AU'FO ZEIlU33G •KONSIIMENT iGUt'B FAHRF •7'E5T •A[J'10 MOTOR [INl1 SlapfYi'- Very idrnp9y, on 9ce or anaw•ciwered roads, laeslrag A¢etroMaric S chains outperfomr every snow or mud and slww tare in the weal by an aslomrding rnargln-and their erdusive combinarion of features make them far and away the Nrst choice among the European chatns. 30 dsY moilsY batik guarantee. As with other world-class Europpeean auto motive products, Pew AustroMakiC 5"s are of inexpensive. But when you see and try them far yourseff, yori ll recongnize the value that's there in en~~gglIneering, materials and construction excellence, which is why we invite you #o order asek-and try them for 30 days at our risk. And we suggesE that we place your order now Because it you forget_ sold t P~iiro~~ll SM~B Years, ~~ Vnw drlrlnq antl wear gtrMltiea, and the roads are covered wikh ice orsnow_ and yyaaure out Ehere spinning your wheels_ ou1]be ve sal ou waited iVW to mentio Because in Europe, high-tec6rwloggyy snow chains khat easu u t th t d d f Pewag AuetroMatic 5's are made of fine- i d k t l y ry ty y n very wet. And very cold. Besides. its more m p re o e s an ae s p some of the wo[Id's mpeF uneomprami9in drivers hav b e [ s E I th gra ne Wic -ma tease a e loy sleet Squared ]inks with rqunded edgesprovide bettergrip d fun to slap on a seE of Pewags go safely on yo r way-and gently remind your fellow ' e e n n u ar yean. e n e three years, for'example, wet one ml on ~ f th dd' d an tiro protection. as we3i as vastly superior drivtnrt, bralctng katiion and hacking quaklies. travelerswho aren tgoinganywhereto osier a sek of Pewag AuskoMatic b's. ownen o e wju e t cars, indu lrtg Merredes•Benz and Porsche B have Thec aireeresymmetriwltomsuremrrect ti d ibl a f l l [ . :, , pgrthat{ed PewagChaing-withoutworryirlg about tkarance prablema or damage to ex- moun ng- n revem e or onger i ~e. A constant mesh configuration keeps chain on the road at ail times. On the road Ausko- AuatralNaea 6 Sixes and Pdcaa par Sst' nn talaill nre tswn pensive alloy wheels, tlrer er:ti J,. -:k. Matte S'a are aurpnsingiy quiet and smooth eta. se. rnGe Inn ~~ rne. 155-19 60 $152 165116-13 BB 5152 I~1T0-14 67 $161 16545 BT 8161 8trap(tflsdinountlnp 115-14 60 5162 176fT0.16 57 8161 wllh lM fxeltlslver sutonUtlp potdcttaAlnSOClt-aprYatam 185-18 62 $152 ns+re-ls 5f 5152 185-14 69 5168 g95lrau sv BIaB . When you need chains on your tires, you , IT5-18 BS 8161 lesrm-13 61 $161 205[70-14 79 Siw 205170.15 79 91w needttiemOtsrigfslrlCevPevr7~AtalroMaticS 165-11 & 5181 215160-15 T9 SISB chains s9ere engi[teered withlust thatin mind. IT51i0-14 g1 Si61 8541 67 5161 225[50-t8 is SI60 gape them wer,rollabit-and pull the a¢1o- - 'P u a IU ad ' matiC Id loek•u thaia That's about all ®D P ih ik h ~ heav dut ca bae F b rim In s N h ° sa.so fwsN . heednrg nrn o~derina one eel. lee pay s k 1fa~.r~ rdsr w ~ o eTe is to , European test reports show t at you may &able to movntan AustroMaticS y y rry e . ree g vsa. Fach setromea wiihafree pairof elbow,length ,n yr more ovlaldG caminmlAl 0.s, .dd too fa refs eel °At<nd. rn under four minutes-and remove it in haSf . plastic gloves -because yyoou never krww what that limn you ll be wearing when the wEakher comes in PLEASE CALL FOR AO02nONAL SIZES. Peweg AuatroMpllo S Snow Chains btu n ot spid In anY atora~- and are only avalle bie 1lrect Tram the COlapany'a U.S. otBtx. Jersey Chain . ~~ TOLL-FREE Mon-frt., BAM TO 5pM EST ~~~ 8i Meta! Co.; Inc. C 800 52fi-3924 ova A,~t Credit d T Ph ar q oT o~ 198 Route 206 South Somerville, N10&876 IN NEW JEFSEY: 201 058-2030 pr iNaf1 Orders '~~~~~~~~~~~~r ~~~~..~~„~~~~~~~~ I Mall order 10: ~Oryti tNI,IN NO. PLAICE I I JereAY Chain " I I & Metal Co., Inc. ""° t9a Route zo6 5 Atldieaa Somerville. i+1108a76 ra s I y care zio I ^t'IeaSl lY4h the AualroMahcS ^Check or moneyaroar enclACed. OVlae (J Maslar Chbree svntotal i 5 Che~nsl inJiretrJ I I vnderrtan,f I have 7U da to ~ ~ ~ I iVSA' iua rea~aents omy,l Ada aL sales tax I I rdurn tkS d,mns fora lull refund. Gerd N°. Exp,ratl°n Date Nt1FMAl. CtE LFVERY. ~' SnippinB~ TQTAL~ I I TWU WFERS I • {•xelu•,o~eb) ~wl~tl•tll•ererM ~b AnY Nw .. y • nca1W 0i1F OF i ~ Na elle IMn or accumenr, aecroe w .. rawN OF Vas Rooney E.MaY•r ATTEST: CPII9en %IIM Taws CM.e - PASSED ON SECOND REAp1Np A$ AMENDED, hDOPTEO. 2NhCTEO. APPRpyED Ary0 pRDEREO PUBLISHED ' pNCE'iN FVLL IMa 18th saycl Jenyery, 1$30 TowN pr vA1L ~' Rooney E. $hrer - Mrypr ATTEST: '~ Canaan M. Xlfn~' T°Ym Clark .•. Publyr,a61n The Yail TNII qi Jenuery T3, tY$o Pubilc Notice ORBINAND! NO. E ENMa of 19ea AN ORDINANCE AMENOINO DRDINANCE ]6. SERIES OF lg]$ AS Tp SECTIONS 1 ' THRpU6H t3 CONCERNING A LANG TRAN$FEN TAx SETT ONDAINE08Y THE TOWN DOVNCII OF THE TOWN OF VA14~ COLORADO. THAT AMENDED q$g FOLLOWS (Caphelg y=bl9y Ina,cale raw r^eMIMI aaaFp la enlellhg - elnance: aaeMe Inra•pn maa xnin ~brenheu Inalatae daunnna uam eeiMing armrunu}: eecTlaN z Perepna t,rael. ra T.e. EACH patty! ANp EACNaWER ANp l.Or aer Mrs orI EACH P.rwnq grWMrROFA SMiOM OR TO WHOIA Iw1aN makelIe IreMlerlB MADE, whlpn y Wclaet Se.lhe 1 I lad ~ a - ` ax tsecnon tabow eNan lw JDilYTi l ANp SEYEAALiY hebM lw pplay, pnt of lnalen THE SELLER OR ~PER$prJ-. RROM YMOM A - - Tne,N$FtUI l9 MADE SHALL REM3T THE TAN Tp THE TOMM TREASURER b uera ,n • •sECTrpN a. Amq,nl PI he. Iry7ERESTBN• Tn. /mount ollex peYebM lneaah CeeeeMa ONOANIZATn na ea follows: PNOPERTY t! . WMra Ihpra Ip AO p°rAltlereltm a wMn TRANSFER AI the c°mraerelapn la Fwe Huridrep pnllary TICN OTHEF ItlioO p%orlafa,npLenO Tunelar Ter Yell by INTERE5T311 Peyetile. OROANI2ATn b. Whara lha MrlaltleNSlpn ahaileaeMaFlYe L Tnnslere IN,ntlrea D°lla•/ 1l7 N1p.pal. IM Lana Traylor pMlemetl w < Tex P.Yada an.nMii11 nl ppperCanl tl%I vIIM 1uelN,etion un n Iaprak^n, THE Pi(OCEEDB OF wnlcNTAx a4ulr AnaCpn~ analppiaapp aermarhna mr ecae'nwon al roar meee errs aen LO$T9 NOVTH~PmTNC PA~OFE AND rn0 Iauruwe INTEREST pN~ANY NORROWINB FOfl THE mVaaYing a< ACO VISITION, BAIO REAL PROPEgiY TORE agWlmalnta~ tarAUaalnarwlmm awanoal me llmlupl an Town 91 V/n, g.enhrp eeeen BSCTION S refmPllxe. n~ AnY okra TM Lenn rnmler Tee Impnaatl by mle °.v~ranal oraei wamarme shell Mt evvly lo: conaemnalipn .,Anyy TRANSFER " whwNn Ne ,. AnY TRA Vnllea ENla.arenY ayencY Or,nplrumanlailiy Ihpraal, Ina 81de 01 Cpaareaa, en a umY, city a,r /h rep end twiny mumdFeury ~a'uerci pr anxr ea onmenl or ~ nlue awb0lvlflm pl Ihre $IeIO, li allne• the ~ h lees ,]up „I gr prenlea. Ial The Vai! Trail.--.IaNtrury 23, 1980 69 v. `Yi '•r'nl i•„~;,,n Current offerings from... , MON lpR OTHE~I ~ rpyellY. HOWEVER I coMrtlerannn nl nwith path Partition (~ y iVCH APOIT ONAPL / yr . ~.~ • "'~~'/ ~•~• ,Chan sorlnlereet in I ~ ~~ aea r, PURSUANT YpF DESCENT ANO ~ 'A OTHEnR WISE p~ m I L«eMpe. i Avon Commercial Sites ron. (~ rl ~ B1 ° We !lave exullrn[ commercial and commercial-industrial sites ~ oa Pn ,et„t~noe by a n&nchmark a[Beaver Creek. foryounnsprreion, and situated rmvereucn mr rw far immedlaln development. Ali have prime laalion, exposure enen aneeuni°n 991tlraryry' loeh Oft and views imo ski area . A COPPORATION, '1°nlESS TRUST on' Residential Building Site on ogGalvizaiiOlN+ te: choice Eagle-Vail. Near golf- rennin, swimming, high school. m$oNS eY w++oM lots of sun and reedy to bwld upon-duplex or single Tamily. 4 MADE -IF suety 54ME Scllex offers terms so qualified buyer. Lot 31. Block 3. Filing 2 RFwnve ASStkIgTIDN OR ..-568,500 '~.V HADIN THE REAL ~ ~ - LY PAIOR TO SAID I$N000N$IDEPA- - ~ COIOTadO 517lInEr$ COmmerClat Acreage HEIR RESPECTIVE r ASSOCIATION OR t5 acres on rapidly developing South Hi hth Street, 5 minutes 8 from downtown. broad exposum to [ntercta[e 25. Many eveglve enr vlen possibilities exist far this property. G!f for more information. IkruplCy Ac°0 oiinl en ~ - ~ - 'alPg~ RanchlDevelopment t.and rm rnReideretipn to: 36 acres between Saiida and Ponrha Springs, near Ihr bast of ~a~tlnp' e n veneiei Monarch pass. Highway 50 fronmge for rommerciai exPosury mg minor bormaery plus gpod depth and abundant walrr righss and hot spnngs Far :Ipuaa of Inter or ~ residenrtal or resort deTalopment. Will sell or trade, ' ~al-wa0 pl l~Cerwei. rl pl ,ecartl c " ~Itig eitie, Induaine i Aldah Medsker U03W76-1798; 476.4171 l ne Purwem ro a- post t)f€iu Box 2327 Vaih Coiarado 81657 - ryeflla. ' .. ~ Y! P nPat~n nY e m r aan oc oncnlong e m NOT Inuta You Came For The Fast Snow stay For The Bright Future .. At tNM03 Ih Colorado, a new semiconductor firm, building !ts U.S. headquarters in Colorado transistors per chip. INMOS plans to develop a broad range of products in the memory and Springs dt the foot of Pikes Poak in the Cheyenne i~ e microcomputer areas. window the w nte~dreams of downhill acers on the fastest snow in the west. What yov have to do b We need BS, MS or PhD's in Electrical and Design Engineering, Chemistry and Physics...only the best minds who can extend the frontie s f VLSI ecomes what-you want to do... when you work so close to pleasure. Gareer fulfillment for innovative r o techno#ogy. We offer freedom, sndependance and a and creative minds with freetlom to think by windows with wide views and escape as close es beautiful place to be. f=our perfect seasons a year in the clean mountain air. Bring your dreams and your Ihs nearest mountain. - skis. ` Our objective at INMOS is to build a viable capability For a free full size color poster send your resume io In the semiconductor industry through research and dlstovory. The company is concentrating on development o! VLSI technolo with initial d vi Stanley Bloom, Dept. SI, INMOS Corp. 2860 S. Circle Drive, Colorado Springs, CD 80966 H i h gy e ces eta level of complexity 0150,000 to 100,006 onor ng uman resources in evory res act... we are an equal opportunity employer M/F~H We're going to build a great company. Together F}am Page 67 :~ r 70 The• Vni1~ Jwuarr~~ 25. !,9(7f] ~~~ ~o. ~H vN~ s~A~E ~o E CONDOMINIUMS PRIME VILLAGE LOCAtION. ropllaar. two level Mountain Haus contlgminium with trues oetlrooms. three baths, and very nicely furnished. Good rental potential with inhouse mardpgemerlt. All amenities of a motor resort irrclldding hunt desli Service. cpnvenfign faClEitieS. restauron!/bar pod, spunps. InuraCry roam. Please call Uene Young. 476-4450 tar mae detnkls, CUSTOM HOME, BELLVACHEORIDMC,~ayS.B00 saLtpre feel, includes tour badroom5. IV.C) and One-n01t bolos. pteenhpuse. Oirium. lRmlly room, Cen. wdkshpp/ski rgom. iwoccT gprage, nl4 with the ullimafe in ILauIY fegfures and unsurpasxed vilavs, owner 5nanaing avalEabte ..............................529$000 UN9UE OFFERING 3N INTERMOUNIWN this duple%canSfrlxttsd Home otters me aWantapes of single family liain~ plus rental income. Emcompassing 2.400 sgLAile lest on fvrr Isoels, each unit contains 3. bedrooms, 1 3/4 tyatty- and brge mpssrock }ueploces The upper half has wylted celBryOs and parquet }IOOrEnq in the kitchen M ohLlntlance oT wlndoxa prwlde e%cep !aria! vieWS Ipr both units .... ...............S7B0000 INTERVAL OV~NERSHIP APOLLO PARK JANUARY 26•FEBR RY 2 weak 4 Fn Unit 2q~A One bedroom. two Galh on-C~Ore Cisek wilnln MlDlkifnlgg di5lpnae Of villaapp9. tJew{y tltgcprgted Cnd fumishtxs, aMwVll pccamlylodate'6 peopo ...........................57.900 BL~ILDENG SITES 2•BELLYACHE RIDGE PLEx LOTS. goad vltBaMS. Ismy aQceas ......................... . ............ ham 552500 TOP VIEW AT BELLYACHE RIDGE, avggopka entire ropey. Zoned single famEly wRh a>icellent bulldlrq stte. Ca11 frene..565.000 COMMERCIAL THE TouvN of Lnrol,coTr. 2g miles vast of~ veil, includes a General Stare. Post Office. Goa Sidilon. Hotel and CablrLa A unique pggortunlly vAth rtgny pcdsiGllikaslar exppnsEpn. Fa mare de11af15 and appdntrrdent to see Contact R Young............ .......r :................5 7a Suite 30iyy10 Vail Naiiorwi Bonk Swipingp PA: Boa 47J, Vdl, Colorado 41467 tw .,:i a • r i LEASE lee+ea ~ ~.. ..I dIM nx by apply Ip axemgion item Ina panaax tad. THE 6A518 OF THE CLAr MEO prpyErtyy payment al the Lend Tranaferlev. ,mpoaetl py E%EMPTIpN,artlwrn dnBr inlxmelenu he m,neraFTMN$FER I/ae/}p nyNly l uR ~io ~4i ~q CAMENDEO aBY pRDINANCE NO. "'cyFO Ine pwpaw dcalleyaier or y,e Yxp er a e.curs a east or airier -- sEflles pF tepo, Tne been or mcn p imlaoaed by mre ordinance. au banLe. tale r, p NaualaayYl rolelsea of PEµ wnbn a axam lon is ee lonowa" pmpenlee, escrow rompamee, budmng and n eecwny Ix s dam or Omer t5nte aneuy pp nee rw ea a a Ela e a LC ne n 'r'C'e0'" on mata„tipm. alwrneya. reN saute e ertC,el er olnx bai e utpry COnlnd lp measle or mal 01 Naa Ihan mree years dpralian E ca ectgn ene,o p- ; o or ardmance NO-$$A$AMEN-ED g . c rq egenln or apanCba. permdledae sash btlobuNneeep MerrMNws. . iCn me veridea is enuPap to or don Inxeby Certityvnder penellydpequrytnaithe I the State el Tglorepp mats IMCI the Land Tranatx Tax IHOLpING SAID FUNO$ SN soon mereb} wrtnp,l Acquiring Mlle an a IdlpDing staterMnla are true end tarred, TRUST POR THE TOWN OF VAILI a,rd ram! , F argnmant ar cncNlelion pl aril lcl Orentx or Grantee rM wine to pre Town tpr arse pn bandit dtM ea narW buyer. FpftTHW1TN a~ ~ •~ ~~ ~ sat Cartlrkele of xempryw e. Tba Town Mena ulnpnree ~r a g ~•y •~ ~ ~ ' e 1 herOpY hly trial Ina e4ove 0laCribetl npOleClle anh enter an lm 0.ernmental r ••^- „yi tnplaer I I q pgNY r>T BxOmPt Irom the Intl tl~le CwntY la r p,a cyp>rmalppai Cd lhls ter "g n TRANSFER HN.. 0 PeYmenl of LAN enaler Tex antler gA+Ryl r J . me payment of a tea Innis roarer oeb«a for a e`~fuanr t rairp entl }epa'iy one Ned 1pr Idle entered In p A AMENDED NBY OP-INANCEI Np.g A$ Bard rnlleclion. sela ' n a p 'r aa ° r a SERIES OF 111A0, Sppion 1iEOTION A Applfutlm el FuMa. 11~x dal RN aa 1 r nce na zu F 18T8. PllRSIjANT TO WHICH rave mcboN H y tM deed m Tawn Manager [a.l Ag wags recei.ed ey Itw Town of van pu,suent lalmaerpina0ce shell pe dePpsitadin oun° ns aa~ nea'}i a ie eu n.' ~ l n t ut ro rerance Is eucnled AND h n n r cm I« be :a n EDan ar befxe JynO s t95p. dw TRANSFER Ieew' I ppraprialim only for prB tdlowinp purposes: `Ilacouirrrq REAL PROPEPTYIiaaetlor parES, e Pp!wanl to a valltl end rpelty rOCrealion. open apeceandlor similar pu.pWae 1e pre~eale contrxl lei empreo into 1 eerier alto A unheaer prior to the I:I INCLU-ING PAYING INCIDENTAL COSTS A a7HE PRINCIPAL OF AND INTERESTON ddt0 d IiYal ordmanCO NO 2B. ANY B0.4NOWING FOA THE ACOU151TION,. F 19TB: laa+l Ipl IMeI PURSOANT SECTION t0. Are OaNa, PallrgwndeA Y Eransecllon IP cloaedantll tnetlBee ~enl of ronverance is axecutetl ANG %nllix, MMm1, EVASION. - -o or before mna 1. 1980. A C17NTMCT I. 'ia dahred asrng amts rot are or lease tO low or pd«a. inrome pxapna. P.pwaad. tMt the anw to ma tr.naachpn even eppy tome li Prawn MenagOr Ipr ma exemppon pox so its ego pie e a' ` nce' e N e u ag e N re ne wr u oi lli: u operty to law eAa moderate prieao horsing I by recprdwagreement, need reatncppn. COMnedf.tl«lMSlidra.«elmilp irRlrument dEaTION T.WbAffedW. ee may pe reRVlred by Ine Tawn Marugar, KTen a TpgNSPER '. I ari4l act to 8ECT10N d. ApWlbaSpn Id Exempeen. ~M adlneeCB inclutloa REAL propgryyloratatl k141 In the event F OF ANY TRANSFER CLA1MEa TO RF IvWelr-41 n m Town of Vail entl REAL p^pperty b~letl ELSEWHEREI - m ma Lane Traner0r TT a nerain m p r i p m e o din e Pras itl l • ~ o e oseaeMer me awhurily of l r anc en pa om r d l i 6 t5e ppre~ior [ grantee 811AL1 Lrnsyi apply leraneobtalnlrom pu e an V w m raapecl to HEAL properly locaretl wllhln the Tawn of Vrrll, dad re TOwn Mengeg~ GNrlv;eleo}Exemption, whl b Fn n e t m a IhO Cpnwtla al on fairly v~ip$plablet Il a m l'r F e z d o THE (ew4l.pe Bd ar i~ p im ir ItY} Irenarer THE SNHRpEN OF p tli wcX gEAL properly roosted wllnin 140 . PROYtNO AN EXEMPTION 9NALL IN ALL Tewn ar Vall. . CA5E5 HE VPON THE ONE CLAi MIND IT. dECTIONRTewn McMgx to Enbm. Pwrlded lptlher, 148[ the aaempppn provltled n penyynp4 6IMH IPI eMll be Nmxea only . Tha Tawn Ma,uger 4l Ine Town o} VN118 charged wlln twv nrpreemens of Sha wllneGHilicate ql ExempNen 1850E9 by She Tawn Mans er PR10q TO THE OOE DAT prrnisronB 01 mN ordinance entl h nBmby pie a d E OP THIS TRAI~$EER TAX. The GRi}irate 01 a en emppwwretl rp pOaCrlb, etlo^h ~ Pmmplgele e4d Mlwce rules a d Eae np[Ipn Malr ba In eubalan11al1y Ine Ii ~ m °B : y le {p1 pwrng fOrrn A l rralr n pr en lmna uPOnwnrchetu N Impoaad Oq dN11CH IS CLAIMED TO OE EXEMPTION FROM LAND TMN$FEq TA% E%EMPT UNDE0. lp~ tole ardinanca, mare Tfie undenigrad,p8rynlpr corentell ela Iaml~emdtlpdrepPrl lp lhB Tewn Maq°ghq ecrl W h r d~~d or InaNUmen1 pl pnvaYenae tl ~ pp^~te f COnalde~retlon iot Me n !named penloreMgianteel~eanow-,~..,~ =M er top aartlealMralo. [he jppitl0^'tn' o tea q PEnry Pa.w.l LIEN'IMPOSEa 8Y THE LANp TRANSFER TA%. 1 c II me IBx ig gnpeitl and tleii.puanl, IM Town Manager shell give wrillen notillcaplpIn Ieeo~~ tleeetl uyer arinairumonn EVIDEPICINGy TXE TPANBFER, pr nH ta51 known atldresa, and IM Slller at h4a last dnovm adtlnas, a} aelp dehnqueneY, Seltl nolllkcarion anal! DB m011ed erYliCe er rag dared mall, postage prepaid, rn rwnoipl regreBtetl, ens shall Ea e}lecllro on me tla[e d mag'rng. II the ter, panalq erb Imamm are rid said wim'In mmy eaya of eM g«INe ears } me nbllgceupn, tyre Town Manager shNl I _ ~ .en aaleAax ,~.-~. -~ ~~~!Nay .. f f Y .•..... r.... .. .ay ..... .... .. ..r .... .._-_5 Try The Mountain: Copper Mountain Now traking reservations on,., WEST LAKE LODGE Ftgaruriryg: --Only minutes watk to the oarered cha[r• restaurants and shopping. -Panoramic, unobstructed view pf Copper Mountain, overtaoking Ten Mlle Creek and West Lake, %;+ . ~ •-Saunas and Hot Tub ' -LauntlN tacllBies -Heated garage COPPER -l.~kbff ~n~$ MQUNTAI -Open and glass~ncld$ed baloonles N -owner storage and ski lockers REAI. ESTATE slLtdio, one and Two bedroom Condamintums Irom 579,90rJ }o Your Realtor of The Mountain $24Q6gQ. 668-2882 Completion; June 1981 d. Query al auto emWnt e y lax Oue Mnuntler may rba p nliahetl ey! ' one e,ceeaing mree Nunarea Daaam [5300-WI ar impnsonmant for a psnod of rim e man ninety 18Uf'aays, or hoth aJCn Ilse erb imprisonment. I. Alai remeuea proorced tx nwem eMn 4e nmu We enp not eecluswe and shoo 4o in ea la any alher rema6aa prwidedM ew. a SECTION tx Rr.Nw Ine Tow_w Ma~tager anep papers a repdH or Ne r Irom the Lan4 i.anare. Tax. ena~eu es made in ma prepeeding Ir«el year r Iprppen[es pp Mhesed DT THE TOWN OF VAIL of In ins precesa pl peing Wrpaaaed, e iial pr propene: b be v„rchesea pr THE TQWN OF VAIL and Ine pripnlie5 of purchase ' rPrpndcd. howevm, me uu pr nrope,naa lope eurcnaxetl and the prlonnea Ehereel Snell !x anhdennel rp the town Counc,ll, entl the nrplecred rcrenr.e entl e. dlrvrea Iw the r IraCar year. $cch report .hull be submnl Cd . o ins eouac'u . tp me ruCmpnion of I WeregerXasp eq Cnetl a ~ 1 $e 93,a mP Charter n}tne lpwn of Yail. k ARE YOU: Frightened... by real estate prices? FluStfdted,.. having to drive ar shuttle to each lift, restaurant or shop? ~ppsed py In orarne ~ rid ANY penally xl rn 0 Bbl dpa mBrea t - - x11eaasatl G he d- AND ALL CO37$ OF DLLECTION OF SA14 TAX PENALTY AN- ITEREST, lau._ -.... -..., 1 ~, 0 a x ~~ zl~ 0 :~ ~n ~C ~ ~ n o' n ~ U d Q a ~ a a o `^ N O ~~ ~ ~ Q Q o ~ ~° S~ C~ ~^^ ,I ~~ ~ ~`_ C\ ~ ~ ~ O ~o O G, ro • -~. a _~ N m m 0 a 3 tD C7 c J µ ~O b ~Ct ~ Q Q N -p N n m ~ p~n<n~-~nQ~~ - (~ ~ G -_ 1 a ° ~ ~~ m ~an3o_ °r'°a~ ~ O ~-- _ -a 5 ~ Qua°`~Qmo ~r ~ ~ Q fl O ~ (D ~•cn 3 (D ~-C7 3 I _ Q ~ ~ °m~o:*roroc~ 4 y ~ ~ ~ ~ n oQ~~Q~~a°O c~ ~ ~~ m ~~ p (D Q o tD ° a Q (D Q~ Q. ~Ll ~ ~ _d ~ ~ Q-Q (~~D ~ O Q~Q~ ~ G ~ ~ ~ -c m saa~zs~n~~- ~ Q~ 3ca ° o ~{ 4 N. 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COps' IhE conshuc!,or. pr,cr .............. ... .. . .. ...... ...5240000 CONDOMINIUMS/RESIhENTIALS $ANLS101:E 'nl M1c saorrx..- t.:. _.._ •'-:'~dygv West C ~ Cpna^^-: .n eru.Y 1:':sreu .•...--F>~ ~ .. -~•: s:: -rf aCCf.nnng Id6P~~•Ce =` ] IC'; B Ri:t-rv wpli cans' ~:. ~? .'.~as'!+ anG OryLv SrSS^~ 'a. r.] CC :rJrY Naf,Jr,'{5 M.^r:r:' -: p:~_ ~ hr= p1tt5 v Ew U Skr :':r :' _„ - -„ .... .. .5:1]0} ..v- ..,.-~...b - [ .. '~ { , ! d f . _.. :.t r r 8 ~ ~ ~ 1' •r ~ ~P1:: .,r... - nra .-: UNIIAb..: r•' -•r ;;e ]is+^r. ..'; ^•: ,..:s ;'ca •.:.dOM'1%IPM -i:'~~ ~ .. ra.., Sunray ~ r•. VIII A 15 -. ". ,:Y G:~Y.~n I r,,.. *.,F ~ . . r. ..~., v r. ~ ... ir.N t;~111 h'. rrN. ~~l I ! u rrhNL-vsr ~e.~l~ rn:c. Url:l A]9 -~ Vl:rf A R! '• W'f SI YA: ~ , a - t.I.. ssroods Canter Er5 ' LCVPi an M01! f_Ai1Di7 , (tUILDING SITE5 ensl;M LL.1 s's ?+::. r 5.4cLSOn % arcs ......... es ~ 50L` GYfSUAF::or s8 &'rlrt s:envspn l m oats ...., .. .E:450: WEST YAI L, fOi M, v/.. YIIIAGE n+E51. 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Fiu w ~: ins uvpre• ht v~evn m=11f. grey ~.^-':t .;:NNS Cr .:,: ~... ~•L:a. _ra slO lPinarm wln l:OarrCE r o vra at t3'l :r.~~,,R cm >'wm 6ERRY CREEK tOF 6, 6J.".K l F:IT'G 4: lnrs w 0~2 eup,vs Y]I a a: cceni rya h.rraE '..erg.: a ns Pwnoci•s c'e tT~ 1dnsL7Y 0.'orva x•.!11 ^a r,.: m=1•sryC P^~R Mr15P ine OrdiRC Prc:enmes npuce le~'rs swn-s'.-,ry ~ Ire egwsn a' rows .?4p(y d.~..n .: n c-~c^ee c-rn zed wee 10 ,er, m .2 :4 nlfvast perann~'tt Pr. oaanl ~arlrrenr la Ixa,ce of er4 d: yca> BFERY CREEK lDi 17 aocx J. aLIF1G 2 in.s pr.mR OrrnC~ qi a :aa'r:Rt cn me Ser :~.or ace ent nnpncrosr wo,able.: a I ru c , a. s .... ~l 175 EAGIE. KN8A9 sVeDlYloaY, NIINrr 7, LOi ad_Ne7'Y 2cues o`enr.T ec -rt reM p2nr, _"-~_i c':p~'A ', - g 1' otJrs~r Pnb 1 np•1c Cti'. Ove* '~ ;5 ~1 7 1' : n E E I pe fAGlf.7(A:eAB 511801E^.5'QN. 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Ir ,.. r w nr, x'w c, rne.rar ar'-• zap vr' ,ma•. r. _ .~ .. -.^...... ar r,..~,..,v, wa,-.~-,ntu.ra. w<,.,-•.v w.. a: navva_•a"a r+-S .. ~ .. • ~• .-~ ~ .~ . • • ~ ~~ .•..• •" •.. _• =~r<n :a rn,v ,eo-•~v ep^eip w:, rM nna,anra as^armrv omrr a. :r `-'<,: -n ' - ^'sa. ~.~e,c !r em [r,e = ©.~ =e'ry tAt ,n!¢nnan M me Taw- „our.:. ~rJt G-e~•1y-~ s„•~.,;~tJ r nga: x.n fa a'r:an Gn,.ny amcnc :•t wr~~a-'e_ Surr.r: _-en Y, rv ane.rmervr a,-nonrn nJny a~0.1~a+al Firnr,Vananr, a-a e•„ i earinr .~ ''hmr''~`yaa r~nYSta'a,ama.rcgarcle,sarrM'acf l`l'."eY _ v swea arq rei . to ar ne r.rsrcr.seFurna~l^rR wrlr 'raa :r,. a c ~`~;-°~s~a ~n , arq J-r aiwer `~e rep ,1<eapr PaurY wa.. x- Condominium Tr,wnHoUSes ." ~r'""~-nn"~'>s~y.-:•~~'~.^'-Y..... ~' ;: ir`~a,~% `~`°,,,I<aw~t.a~a u0:e•lenra° i" ri ~„r'N.sa Sr~.R'~ 4~~ _. 'rpm v ?tT ..,,, 'T - . r,, <] r ^ ert~t°+ ~+ e: ever .°w • ~ : a-'r ' .• :1 '~ r'eaE ~ 6 - 1 ' _ 51 ~I ewe c•a ~~fole F"rpn tre L P C , r-~ uwW:,..y< . _rn>.,ay ,tf r - F sxtlee 9 rI„cn on rtl F u~ a,0 r i.l ~ - 1" ~ ., a.~ ~n: rn me Rysr.a F'.:e ae ryr:rr - '~ [ ~ ~ ~° ace _~ - .:n~~a a:`~e ~-~,' .-~; , .- r„~ F T _.~ ~ 1 a^e u -Iwtl 9'v'oraP rlal rte, i _ ~ ,r,l r a<, ,n Ssn crvs r , f- 3 ' ~ ~ a F I x,r - "'sole ¢elp Y r•+ P 6d Pr a. ~1 t 'f ~%s- n•,e - „e. r r h r<. ,a;n a eslme _ .errs -r ". x r"~ Matterhorn- L I n J. est VaVI. . ce ,~ w.reny 1 5 ~ ~~„-w~- ~r A'--' •t.~a,L e+J One mll f Lon'Ft ad CI ;x [ohs pie.:: ^a" ev~~e,,.~>zerp• The L«1 e S u[h Ltxavion, locq[ion, Jsaer~r~enr?•, xc~ ""°'°` "'- '- p u[e, Both ones. Two ktu erns. stx - , rant v~ep.r,r ~e se< I anon: Two bedrnc:rs nd rhree baths to cd oo •„- ,M~„~ p _ ce ~~`rrea~~~s'nrl~pn ic'n, rr~<:,,lo.::. y" h fi , \'le,a o(pa r.r:. Ne%•ly~ ' s -~_ Van's most dtslmrtn'. and convenient sgor. lan8xaped rLa:ce<~basernent for shop or - -.',e. a uui`ae,: ~e of ner;°.Ii ~n•.`~ y -,. - Manyameniuas a272,A70 storag• Rath ides of [his hcaunF,lly ~^~~•a Ra~tu «": >anr,~ ap' ,.roaaP' °m' [PP em nra ~o~~e^:e x Vall t{eights II: dlost affordable one situated duplex-an esalient tnvrsrmenr a[ _ .e om a .?•I~ea:~sis+'ov rr.• w; "e`,iea`~~ea`a, PIa~'itrs ":.`~r:~r, o"o`:'~.-:,,~ m - 6edroom apartmem Ir. Wes! VaLI On Li Fr j2C2 50D `~i c r.,;p: tore ~'.x or m:,a„r.,n,.,rr - :r .w.e own sJa nu ,e :n .ap fe'rr •, n.,<`•.en:;re Tpu'n xAa~-~sstor a~rr ma„nq am payme":s :e9u.Fa=-r bus roux. Ownerfitnncing posmbie,___.,_ n. Stu ^ a, Y_na:arvaiav •. o' n,. 'aril°`I,::a`'~ a~' ubr rr,r 552-SCi) Single Family Residence ~mrvra~. Sara-~~e>a<<o :`n~rm:~P~rr -Jna na,„'P ra: A-tone,. a,<.ee~~,";, :.°, Spacious Ma[tcrham hupl a: Thm ~ rar~ ~, an ,. ~: enrrnq [PS. , , cerent"I 4 hrJraoms, t%u arxi oaa•half baths. with loft - .•+~ c`+,,'.-r'.:.a~ e."`e'. aI resara rp .-rrr tlmasi. F,an,i ve;r'm. a,a~a :`,'F,p _"`y' and a Gne rites, a? ~Y' - ms's, cn T.. ors r. e^ ~,h er a rer- ru:. or . aI ma a,:•an al n,.r 4c: ~ :_ a, .}, .- s~.POa~~:. pmr.w•w er- omnsearm "%roe '^J..•,amer:varar s.-n n,.a, Sand+tone: On the bls line on Sandstone ,~ ~ ae ar,;at',,r,,,EO+•r.«:'o'. ;,Tt."., r.ca r+rrr°n+=•r,a~tn„o wren,-,an,a~,.r,t r~,n.r: 'o ~n al ~. sln w,~a o,3='.nhneu.maenr,re:~,ar, -;~ . Road. Two bedroom; am harp `~ n nn tee for r.a.r,pp, +,e:a,r a--~.ar cwnl sr~~:- ra- ~t eondnmimvrn wreh a great 1«auon. Has ~r arrt. ra prt ,r•~ ?w„amm~s w~a:~.,n:n u.-, a.-•nqn .^•a•'~ man salbdi[i^• co ce c nge-m s«: :pn ev 'ail ser.~cr mr ea..r: antl r.a.r=-e, ..r.t x Y pu S72.OG4 nrC o"r" tTae.nr i :' true. 1 <_:rre ., i~r~r°o°•n y scm:~:nar. ai~~: ~ ;~i. px Avon To%~nhowe: 1leJUU(ul view n! __- -' rrnnm-~a e,r., pr'o,mn,a<. rnir- n,a, c pr s`:: ~:`~. lkavcr Creek ski rtrns. 2,25 y. ic, rhree - -' _ Tp.+, ^:•anr c~._t•onrnto...,na ~r b ~ +~nn~o~t: nary r,arra~~s~~e net a-=r bedrooms, [beer anJ a:rc-half baths, Inft. 2 •'•'~~ j`-'- e:' ,~~i~e<:` ::.:~ima~~° ~;e, ~~ ,alii ~aeEir..Ia°A:e,`O.°e °aa^e _•« :~-.~ ar gauge, recrmuun room %,th rx person ` f [. V`i, ~~y..~«w.r'r., o%:•na~~ „oa np°. ."->-~ jaeutti, [„~u halcun:rs, sauited a~iLntsr Cvaar~~-~ -• `r'.` oca,ot: <I F.-•:, Yne-,onmY w,.Y •~•n =_e: .. "_-~:::6_,del :.^a nr , • a„ra'..+,: s,Jn ean,~a* a as„r ss„e-~m~`rranatlP oar- I%t ceao:., firepla[eu•ith marble hrgrrh. 7asre(ully Jone -'^'-aa1t~J"°'a` - r^='^•• m u,ran s:n.a a ,n,rr.-.en;, r+:r:'fl•• a =c•-_-,nr ,:-.v by a profeuional dscc: erne. Ask for f irn ~ East Vail: A nvmc n m • o: ^.u most arm: d: oy s•u<.: s ,r.nq w e~ ,LCn ta'~~aa al~m°~e i°,~ a-: c -'r- r L autaful Euts in u,u n. A }tbodrew.u, 2 bath !+myr it ,wn ra n,.nra~-~,e F-,e-s ..5195.\'.0 ,,: P--,,,nr ;Iar lea,uuna~•-~nr a.r-_,r `"~~;~~` asia i.'r~ ra~; ~r{ home witha2FrJnk.ru rcnt,ll '.r+il. The ^~!m~.~_%~es `ai o'-~~.ieo°or,e,Iara °t s"'~<,~yr~"aivn; ~;s«.-"ice 1 S unr lawn favt ores a cr ck?~~ pond. ~e ° 'mc•,Itvn ,r nn n J -• ,-, i;~ - ,ls•-•'~ Properly adracrnt u, .,:, ionaf Fu•cst me rcpn,r ''r° u"n°"a"ra1O,ra roar yr .°a:.r =sane c,.n: w,,..e ~ :: :i ~,:~y ~ ,vr ` •+~•~Q 'F+t :, OPr.onal \ „ a'n. A~fo.rpnar Par,ly rx,a-~ - 3. -~ „e ~a•. `n"~q a•:jn..aan: ra•ay Snc:,ruina row. poet y n ' i, ~ J COTrilCf Cllr 5111CL' p I 'Y - Ir r, G n. ry < 4nc ~.: 4y1 An eaenc~nt !<w: unn I ry,• Vtilac- area - ~ • (:rc)asrnads ;t:;rri~ln rr l r I ., kr ni; ,n ns i f ' rY i„ . ,........~ p.'arlable rd.ln; .r, x~r,J::,s. 1 : 41 e. , .: .sr rsscrrs 4f4nt a t:J:,w+ s35pOC Fn R'" t \'arl: F v r •Sr,A,ms.: F c n. ' baths. 6r¢'n uri^!.u c mun f' .!h•;tnes l.txal f3ra rv Shop: ?'G,+ir.lr is I::r,rncrcial I I , ~ ,r r. ura. I'1 a+a ,. 1 put fur ,uiur:-~,nnn uu " r 4 • I Uun[a nJing [.raetipn .rt .r n:rar Prbccl n Y na ~• Y! ~L rrr f 1 uc 11 -n • ll ~tianai \7<' L:. ,I hn;;. 41:rrr ...'• ..,-r.rm,..r .,~, 'i.: a¢ InE L,rw:~ rnvr i,.'.. alrrpinr. , ,• ,. ...•f, ~ ... nn°~,,,,%,r}nna r.r,i'r, ~'rlr, r • 0.':ua' ~°2, 1 F mow. ar..r.,. . rneJ r:r. ire ,,.n nr,- u,.P h,~lr, ^R~y A 1, na~d~'r lvlar'ar~~-__ °)('~~t. J t . ,o :, rrr! 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Yu•r we z.a ~ of p V 5~ T R n'ry a r.nM •.iRr rNl Arennxirad>un 'Pma Farr ur Jr.~rOM ma'ralny Sa• •JaranJt Yar~ry NasrJnrar•::K ,n>. mxr -n n.hunr .r em Gr,ra'n~dnp < IDrJ.n, ie ~-. 1v lsa .~ rnrrr lr-wn rn,elon,.asnxv •rra yl ~ • ~'4Y'~ - - bares lar Rm.r°arl rn .•aavss of .. rawru we ~I:1°r.• e, Inrm'w• u Ev^cr ws .~ntmrrp Mar•r ne,b kmm{,aNlrrvrs Wece~ nr L4+wt lry vr•d wx^lya muurr~•,f •rl fan:: rn 5r::rn :C IJI 4r; n,•.Nr n! Wa or A.: nrnet e.. f. . `• +< Iaa s~rV n AJC 4i ar rs [re n rY ,n M:..e,:rrrt Gukrana.~~r~ erunaeT 1'v-W:ne ~ b bvY_ ,mhy r Slr' p~V.lres 1nvTw:,. •earq xyaM tnrrnga nyu~p br'Me ut m•raprrR cu la N. <n nV +IMIJ - r Pun ne a[M•w w. Mae 1 me.araur- M rva en~Jr u[n 'vxarV N .nn ~; pJ.J:.e'wm 1 Rea'P;xN•r~ 'v Ferrwm, Pr [ausero PaolrM ]1•w~ a9narlmrdG,Ora •Me. r x } Acru u-aria{ P, r nv Pn,f n. 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JCTfVlai . 3 any pr.uaeptmr:-Yr pro. 5 aria -r,i ~yt• +' 't se'ir '1"''P~~ Ra0<. t o Ila'e as or 1' P r n L e oa rt' . y J _ r r er 1P sJ•r m:rma[nn InJaS. U p 1!A T [ EOM n nJn:a I:r Mr• I.e,[s a- e a L offer errein r!` r n a n Rnti C ~ r v ~x,•if r. Irua[ cr ea4un, p N flVSt Bn•s TMi nitnngl a-J:e nlexs inx•re ~ -c pen span ~r ~.:u. rrr°parn:mxa;nan-.. r.m .. ; na~n,x.:n~~a~o~r_~;~>;P~F~:~~eo _ ,n'nrrrlr~r.,sa,:•~ r~~~frrv ;cnrnsl Ju-a aefnl,tfasrmr.. yany eapnau'r^taNarrinrt~uc~n:~gs re nJr° rEry°- ': IrlreJ:e of tlV~da n ,ereEV:m ~~<-i-•5dsr _r~ nnnc!nom "`---~ [. G•M1:rcar, i' PP.Per.ex In rrr aa< rbl S~t~^:nare L e~"J' -- o' ;^ =,n enp snarr gav, Ina eamprl Jl.an O'mc .erenr.e lerrl .':-:t~ raavJ • w fp•ee r F: e. +r raat~r~rruesire•ernera a•vt seu:inJ i~sr~:e!•ama:cr7?nr-. a . '. , " a was a,a,. -e ~ PRNACY nhen J n r^. .. +.IaarC,re•r,: see. • s iy I ;rte, va•. a LUXURY A~sf~ seruon io ma eex•m Jnq ar nor wr••e-, ;~Fx.,~e~,' ca- ne cr-=a:r_ TYn $7rE51igiplJS Lolls a!I 'PCP1ed on VoiYS PGA '. nr rlcat ens OY R•I.:nveentl - IN A'r.raa G. a^erier lna r _ Ts 'VPgdau,a,rgs e-a ChOTCr0r15nIPC+^YCWrCB. SLIe/. pvNasoa+rroundin Ines ai e~nual'I.en,rPS are sWr.c [.':a5 ervrrGm9 N~~tn:s °r rr•.-r...~<aev.. rs err Trvs'~- ~ ` : P'a,.w9 m y,Ua -, '3..., - _ ~ e^c nano are s. ^ecr ~ p'+r'9ccamp bMJU! f.a3 Gore :cogs and ospen groves - ~ 1G[?i 1'ie rCldl re's-,r sna L. <e•:.s .o-e 'sane mr" <P a nxRr anY eysar o-ar FIP.gI?7 UUiaxr peOl'prlvo'e svndeCifL Shuttle swvree PrPT°m.a may cu-:ear rn er..n °'- R~- ^e~ auwaJnY.e;arn are mr Rex- e - I I FP Vatl Ulpgp, Of1-Y ~4 112 r^."Il:1ES qW fe5fgl>[q n! .P for me rows ra rwnor l<..v,a la e~rJ rR rr.ear, - y u~ wRnln yplkl dstonee w p•u.br Apopnna: ar;r wnr.n'x : nnepr t.v ~n wi ~ a goal Par lv s-xrr.ueao~ . a n•r an ~ ! w.uanu I Aar::+,r P Ir r 'tM'eunaa -e a«u~'rl s u : e ero-v. ~ a n ~ pv I ~ 04911 an BeMSeJ i-nrnnr ep,' .a H 3.0. f P Vtwenams.:~^ aPx ~ ;,",°„'',nr"r0x'-;,"„ "0" r,~n n ore-: FALLRIDGfe oar{ nr ,,.I<cJ r rv i~m.re o br. c.n'r,arn "" ° "° secunrres _e rro = sacuvn it .ne u00^rrar. aw<~4; ~-=c.n 3° s - esa c~~p~<,cw.u Ready Id 'mmudi~se occuogn[,y UnH hb, a17. two rpm r eetl ronp w :^Jr f Pqm«: -aewreos-revwrrra r-e My "^ . .m•a pg;,eq;~q 15srp pen Wl}h .~-0{1, wnp arc,ma .: AJa,~,nan: -r ;r 4r xa., J.°JI• wan-n or - aa`*a~•i wl s.cn :ir spJih exposure. yanerairoergglopm l3=m ba mm~ .::' om, .. >.er P O1`.°^•:' r Caperetl, drRAec1. and sum v: eCJ 10 S. v'>CA SiT $P11n05. • Y~Jwr^I Vurpeau'e.,?xr:-^, er •e m.. r Sva'-: n rx.<n- n. Al:dlne rlh:y.: r,~,f - SneuPlraJYe Rner.<a a . nrr^. > .r+ Sewrrpty '.rq.-.p. <: - - snY Pe+er..ri. ~ , Ina rmqua: an .-: .70pU?ZI, UnUergrIX:rK7 ^..Jr<~. 1.1tlC square feel... ' mewanwoammcn,nr,xmr aria rv:,''•arne Ir.na.nq eu mnpaa aria ~:•x .an,rer raa ore 5.994 ern m•reon of cr. NSr.rva - wnamna•r aeanronnr ;e~`nmvd l;aM1pn a.w ..-a nTlp me pny".%.i cr ~'< o. s.:PAr,pl sx~,nr.•r wenE:.e: +.+In aar.nsr aa.<: ,e <a,•W. -<r mm trr .ma ~°4' ~- :r .: or xw ~-y AvailaC'e for cecuooney Jo".:~3' Q 1960 L'nrt No 1D6 Eawp',on Evnrl u Prorrona .a Ser :, :c efed ana :,er ~n;e•esr:ar ra}<xm~a-=°alrr oa'.a4-~ :- m5e - ro Rewn„es. .-c r.c-q Four hetlrgpm tn:ca bosh win klek~off Car,~et,d and d: xwnprrnrvJ nwnc-Pr J.::e,=,I r^rMnneern-Nr„-.a-aAr, a.>~-racn -a.:eearomexl.n,-. G'roP^-'C3 Cpnlpleley lvmis^ed. Spush and Yrosf Fi~W General Ca. jJnan Nen+a. - °~eT rrar E..<o-<"ai~rabvY J.z.nr aarr v'na s: wo:.•-ar.:, a ar-ama>r, ' naern wrm~u Ir,e Icwn sp .JS.rv a: ~,°al a rrrl•,r,: ,::ro rp a•, o-enu; -., ,n ~~, we ,..r expesura, Sounos..:o-=uzzi. ur~rgg ound pgr'iing. 1 G76 Iaaur,"ebp,eroror,xa=:':.al •acrJ,rnr•aJ7;=rpa,a.•r,..rear,r,nrn rra~ac- :eaLpcar:.orpyaa+ePa.enr,H ~E sgw:ereet..5259,p00 - s4~anwra4le ••'minv P.rc:[a P.,e-m ~°°nir°a~. ;"esenx:-a':.+i c f<a.nrµt ~ 4•:.s,on er walx< ue< one nnrnpel~xnrra":n r„a v~dn-:-a,.a ~fJO~ a wan +na. rn<r a Idn memna e'•t<s'ran,ra ~ •"~<i ee~- ml = Jn~x n. a^<, rrr •ie t N.Px~.rramq Wu-anyw 6t`.na •r x~.nme nor : ,arra ca>~r-,r x[ ~ . Tn:a a: nog u:e I{ry! SH h e~K~ ~~~'~J '_ _~• - •har me WOlnny a , ar^ paanwn a'r n.r ae; . ae rnB .4:cpnar ~ Cu:•rr er[ sra' ~ l (-]J"~ C~ ' r .YY Y•uPo an n brt nr. +'ne.~yr Jn r. ~"•J" ryGC•e ~...: rr. ~P:~P-?:n:r m~.t ?r.<^ e+GV:e".+r-:x i p ~Y CJUntu NenPlnq r OeJar~r. ra ra -- am J SuW+-e+re. ore~-f :rn •r- one[ ~usn0': '1~ ~:r u ~nsals+^.C~.~.;~ ~ ~{.l C'3. POllrlyge Ceddominlums Oularan. ny Wans,:s Gulslanpm L.`.,_~Ir.nr weyanr r~~~••ae :,nr.r. W-Jnrr¢s:a.arta ,-...s .p-a nr~anC•raes~t~ I IbsJ Olriey BO%J$A7, YC-I. CAIDIW061es7 ~•u~ Genr.ar 6P'r«yr cn Bans. .r 1~°rm =~nJ -n• - -s .-s' yr sop - - (7(61) 61Sf]6/ ' puldanumq nay p^emp 1. ~•- J-p Ylher a.-=. fe'. >n<:---per 4y ur--Ixe Via. s a, a^t a rn Sa-•f ~{-~~~~MViIOCf yy -put y PMaVr: . PP'en.tr,[e a •_t4a. r, tGMrnan<•apt-nw,:n ~ ~~, - Tr•nalr Taa R•,enu<r • any 5a .: '-~ Ina Town ~ rararrae•-. '~ nwru- h'~:- n ne e•le,r perrw:tetl :r - Rwtnyn nwlrcenrs Sufenpr ?-•e avi araywna c'-e^'~sauan[<~.r ~ha[ i ~,ena lxga'r: • arnpnnn song, c• e~nel sn CV r,l:cs '.' ar.Y sec ones. :-.enrq r+e •csf,on ~Jx i ~ns~.- ^~5..~. more n~ celn.s it - aa+rl.xee rrr.rungJrra[:tns of ptpcwaur!..-->Itu sucr: ~-,v<prM.al•s 'LSan,,ir--a.rsm.~..,,c..:sr anrpa;.ans:ri ~.._.... _.-._ _-.._ _._.__ T ~- ~ f iljf/ - 1 1 :T ~ r r~ - I T, ,~! F ...~..P ~~ [Frw:.Y~+ I `w-rY ki ~Ij i,a:.,J t jam.' ~,,~ ~ Wy fs~ -w.>r . •:_J:r ~v~•t~ V-Jc1 x<rV..~ ~ ~ Lrl ~ ~s® real estat,V s~_Ees, m~rltetirg & investments ' We offer you sound reel estate advice. ir'O°Sr(](I^I". ~~.' .t. ~sC:Yp5 ~ fYb'n 11'tr: loll IranSi ~ibl-!F1ttC)ll C@ritr~r "~ 14;i .3'>I ~,. t. )rlv@ ~ vif ' 1.'lllc: ;r•• Gr;lr:rdt~.l0 $l~i`i7 ~ {'if)'i} a171'r- fr,ryQ ,IfIIIr;Jr:rl ,:,Ifs zr:•I. Yl~jhq;. I- Ifitl ~ Nr:YTIIJr - - ~-'- < .. r Ilr1 r]f {; .. t rJ. I ~.~, 1111i]Ir: L r,llr rt °, .. 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'. ar.a , w ....e.e ..., ay: _ rrr.y~.._e a, wq ~aa ~ pW CAC~LN !21\'~~:}~ ES'I':~7'LS t2, P; wl a Hplp,n„ Thr >,ti~,nt t [ 1\ { } ' P,t,e~r, vrnn'•C: anY<emp~ne~w~~e~epl1a 6eerery pelaapryaa` tP Issn 1! evt rapes nY SL?~~~A`~l~jOi~ a,`"''f'_ w.Utwlrm-mVi'~ plnP~ ean.tscile'weinlyma:On.lon rnahrmMlafan~tl.rMeeVrr-sand(ni VPlh tJppt,•i 1? n _ „nose er sec V, n ~'Jl aa.a aver ,rttrpr a: ^oPn rpm Na Ioye, ~YnY wnn me tlarr oer^I~1 ses,;a 9.p}, 'N Nsm one m;le orEna~n Riverfrc='- e:m'solo _ p al'N ~ ur. priCld Ilprn 570.(U}. rnrerayl~g '..; 0..re In 5:.z a¢~ oYprlnry eRee Y- rnl a ' ne ~moc i~-¢~i~.' ~s men cr,s:aP•:eww'yRUY' amn""t CI IM nne ro~ga aian~.~,`yjr.:`ar rnc~.~e~~n wio~rp srnr)rel and mu„ o'a !vmnY . vrng Ftilces ncl>.,~e ol1 oraaarn,l.-e ar:.aa wa` ~e wr. an order er ,¢r,an on m mr mxn arr.. ere.:,aec w L trntlefq•orJno W~'"4_ns oraEnve,^. sneat.FasY a:=ess onto b)p rsa•~^slreairaxa °:;"-.c„` Nl n~pel.m n»mpn. lal.~a.~rnl lnm «pr a-_rn_w esa. Dl lnp neh'r CYPSUrn inly:~hpr,Ye ^I,e lv orJen;-,stail. lJVJrler' " P ''~ea cr~~,-opn a,~o re:~"a .n e. K c.ek«pcswcpr.,eany. ~n,;rancr:,:waaarw IifK7nC wo: Sse. aaewen.e:xra Enrea;4 - prn.mm~ a crys.rmy Irte '.:~[^I(?, _ n real rprlx. drra egya ren.~nyn ¢na a+L o ,aasiaalary lP lnc TOwnC erN•w,C., e P,gect inarr pe e:~a p s,.raw,:Hnto Plan RAFfCHFS ~ HO~'IES ~ BtFS!NEa5E5 _ _ - ymperea, .: na:. r. '.,i~ ~ °a.re ew- +`aroxieaomrw.ns or~nee.az m pe trera.,d rn al r..a warr!°e cr of me ro 0 o~areot iee ae~e~mwx~r; m Wit; n.ae1~':;-r. r,^~e~iao IAND ~ COh'OOM1NIlfM5 ,(?h. _- - aat;':a ca.: s~:. e ~ _ " "' `" .:area a .pia, rrn~P~rra Ion , ~ I.ry MkP SrnC!`dl ~- rained 3ru;stl3 G-o;B MaMSp :'r LB #': ~~ - e`syj~~rann ~ z `' ar BnJ' Un0.5.rte e.:try' ^ :,:brie a o e,ueH cnesc sutnc,..~o I, leas M,Jralr.bHnyr: i7v7}3a9.7216 ~ n - w:nr xnr-A,I ~f a, o ny^rJ^E.~ Taa TewP mgeme^IS al neCasana_:n ceaai! .ad ~~TC~'~mam. ceevass *-ma naaoe ~ r.n punclnm ns, i~nacpavlarrmes«r.rme. aaxr,Paarn ~ - _r;: ie' ce c.n^a ome• P toe cn a~emncan. '~6~~+a, :.:narl,c',aractra Pr•e:n Va-.1~Irv^a. Itl pw Gerkm ,. ~.., ~ 10% DISCOUn1 fof Cash # x -G ~ - rirli: "y Pleopa.an';;ofcy .3~ - ";a ~;°I~rr"„',i ae sueoF 7s'ca° io ° F:ilr°,'..a`ne e<.~~rn`~:`.: °ma:r »J S'nm .:. h ' as na .enandaa:. reP-: nyaelC. w¢'r,nl yY ~ ;~- " Y C--t~s 6a.e eke. wr UVn rc:.ce ,pr«Mnq Yupon HSVd-;eo Y•r'a-,s Aa,. - rearr rrnq I^n s.:-e Ip pe al nel~arrenrs a. nr,e^P; mraec a- .y f"= ..any I ` , br : 1 a~owa "~"~" - ~~~:~ ~ -`<c~~. ,~'r°meio ei;: aorerk-s ';~q~~bn erne rPwn rv me-a~aersar arr~rd.a rJ•nam so~ai~~^:e sna ~:_na-:o~r. ""~ ~ a"~ ~~~y ~ ~ • - a^tf :-at r • 'M 'a,r r opal amOpnl VI Mr War~anls then anly ray a:y on pal: a' CI nc~': x.~ lar Ins 0~'e'+ ~ ^~ ~ fn weacn a^J ever . - _-~~~-~~_._~__~,. M - ,nerve ~r::'raa~t3-c hB m w pntauas. icon m any na: the 'awreHC ti.V, ~bevepli - ac'tevm:re aa:--- E•n-~;~~q~er~a sn~as ~prwroep m5n,:~~ n'tOn antdm~~v ~irn ~a«ble acnHanae s. m IuY , a iisu~ l.arra~ 1 ~+ .npr•4i nave uaea ~~ ne n h'".~ a1C r. r.e.yc Pe maymtrcs of Purcnafer T[w P,~PNKr i no Ipas 1 ' re]! a r ~ ......., ..~ .. ~..., .. .... .. ~ ~~. .. r...r....r ~~. ...: i~ r,~a~1 amp. -: at t.e l'i a:,ame^m nSPr.'s:xnP.nB. or.l Im,ra,:p2 a oJgatipn rosary HClpe~Ct'ne Wae•I V3 ~an~ ' .n.~,---c wn" .x 3w n tnsl tnermaY nr ^a n~~• ~ ' ' Proceed a-a~ f tM xKPact srr an5'rr n,g lnar live: ,YnBY C• 3avnoitlp Ce^ 3a~aira inb celmee'aanyen.. oyeesrC re¢,w Cr anti mU.rna^~n cen~,<'~rprnany , anls p• cC~Pans urpe,'sIN a'-r Harder orry w Clner apnaumer;n race ~!, _. tnam ~u~ va~~ ~o~~~®~~~~~~~.-~~:~~ nr~~::aaTr.,nnrnr~ra~rta<<x .e e~aan,,H,ra:,rnnPO,^..s,or..rn:,,nn 1 - ~. p,e:a:npan eqr.:/era law roe 'Lorna} mnp n ace em .: m,.r:r. m. :( -..._ -.. ,wr c!tan: ,brr,¢m:ran, pln¢r rpr mp e~t~~o ~ba`C anM1assae ':; ,nwn[.: weutnnr ask. my sptani perPta,rna•:e of ~ '~cn,nr xsrgrsa~emp:rntaYa-: ~mbrs, arreA nn•v~n ar lapr s LFCTION 55, Mnendmenl al Or6rynn. ' dV'Y'r wepuUa Pla •r:r.:. as wen APnr•:agn stain+r+amnr:l in.f ~:c.nanaB ztb"'e:rual tp Crm ^. ~V C'. ^ri ,w P'a enngnr, at, rsein w .c :r ~„" ~ ~~ p~¢ ysacew ir--q wn :-rmayape or.'I reaur'IPt~r`:.de,. aC-~r•a ~I rt' v'a~«~a, a~ry >':a a~V a,torrP:~re•~+,as,nre °"mrs~`o~6n-; ,n enrnr-:onx^ar ~l ~a~ acl ¢r' r,.steaoia,eaprvr.wo tra.[, V IneSra•wnls a.~~ul~la ~,; ~q ec lee "`~ ~ alepr. or ,uan rernCp!s e. as "^e or rr,r aJnurNn e, .:.rn t-J•u ~s- .. .. r-. ~ e.,teaalanr „alum0. •mVna^.evmlYrwrn sAtr~in„es'~e,n9 eb a„aJ ale1P~,^ w.o e, .r -. ~ a!I' n~ amrtY S..n V' Pay ^9 mxrun,v arorvw k. - .. *.~ n 4crsnnn.~ Any •e fH Cr.<n9~ny Parmen _ r.~yv_-.nUings e:,r.tr orl,znlr C~:.tt'~anc,., saran:-~,sn al me - ~r°'-" ~- .~ K•P ra •n.er.rUCf. ^c.9ai o ha,.,nl nr any .. ~ a "-~,.~nr I. ar'r, r railer. p,vx 0l ~n:e,e.l yr,e~s •,n.n ~~ ~.. nnr. :....ve.. r.; a. r.a pr .na ,:,,, mP nl an,,.~rw n..l err ,rau nn 1 .. - .._ ..~ ' .:,~ air P.ewge', p,.rnr,ei ^a~Pa~ a nl'a v r: n.•anf - are of '-JC ~_ .a/x• - „ ' :,~ er rrrr ° Lai LPn ~,,,, .- inn ras my x wnwnb. L .wM1' __._ .....~ ' ~ 1'.r k .~rr tlr ~r•alurM putstan(}Ind view, o(aVtFi! ;; ountain in newEy Sin Va VJithin °°•~r" ter. Tne I walking 'distance of the ~nndola. Fieaneing co+nratments r r.,...n;o, available for qualified buycrrs. ", i.R,' t: A a n, Five twn an:! three beciroarrs units available. w. ; 'r..q>, From $163ru0~ to $t$4,5V0. ;;;',: ":° r.. _..,... .., I a>. „°W r F~v .,, ar, . , .. .. - Y {{ ~...- '4 .r. _,.. ~s... hf F"`1{f a aka ti F,d Lw w .:I.a v1 1, u, r~~ ~ ar ,. .,.... :. "' 1^f, L:,-.t FJriJgn 5lrE;ct Val), (;g1[rrado f3}GSr' ~ ~ .. ~~~ Villarlrr {)I!]r-r, il!;ovr' t1u. (?.:li" Qifi•2113 ~ Y ~ , rJ!,7 yr , .. . ., .. .. I !';.,~ 1.. 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Gr.^~° n'Enw N~~ srLA~~ ,I.r rnf~x r•'a Nn urW tnn r . •n.rtn.r l rrlrrM l0 r+n.rlr' aAln .~t~i.r "apru rnl Nra .sN rWrrx~'W n+.. nllas r^e a.Fr .. ]•..n yrl, .°F rr rn°r, ear .rrn rroneeu.M terra, ^~j /]-/~[{~/~ ~ / f y j~~ ~, ~~ ~ ~~ ti~-ya F9 ~'ViarYyy ~]ry~ ~ t_ -rq'.tLr.`$ r .J--F~ . 1. _ ... ~ ,•t~, !, ~r - ' ~ .1 rL' .rl~t ~~ - ~~' - i ~ ~ ~i ~( '~ 44'' 4 . - ~ 4 •tl~ k~ ~ 1 I .- ~ ~' S~ - ; ti r; r-:aa. _ r .'~~, ' ~- F'+ °•1- 4r _ )r~^~~~. .f ~ '~' ~r~Y,~t•~Sr. 1 ~* '~~. - •~• ~•=~ 6';: •`~.~ ~ ~` ~' -~YJ v '~~~ ~ _ _-__-. ].r^N - a. r.r .. ,Wei .~ rn wr4•rt: vM prr.nl n' 1 heaa •wJ er Mrr ^iNer Oar. aC.n •Mtiw NAr .N^r [lurq{ra .',Ip al o-V i • r~.y a'q'r^ ~~rE a[I.r ~• ~n:IwatM ary a, n.~`f~rn.n~.r.+'.ism ass nmr n«. ,r%uia tir..n's~V.-"N S,nu. nenhx.•. .vrr'.~e] n «nwr•u'.n Nn~rwaHa'1 Hr v,:n w.,,^, '.~LUr elr.c, Pr mnT xal. '.~ an pCM ,.~anrw arnr. .rnCJ SO aelrr°.u~s '.w + ~ rna w ~n wr~ ~ u'e c~w'_ v.-~V•n~rr •„ ^a'r1~e:•..: a:r°ana n.n rfrnrta .r a,nv Nr~rn '-'xs acre rtPe°•.:nn~: ..,sr .rn h:ru-,+T ~o u,.Nra-Ip.w ne y ~: ,P..,a.--y{r. -?„~ '~ „rrr_ u•vwq nne.rams - iFls rd.r:YUtan al en..ran.,~rn; •r3r~••:e.~n n, s.,sa rn~s Sa;lw,[ :-e ~vf..a~J. ~~..~~y a~~n~ry4rme+~a': ~:i r~•. S:, i ~ sr' i:..:E,e ~M„Y aaP'a.n: as anrntPN Iz u a ~°r 1 r P nr s° a nr cur a iirGa.v ~^e~ell 4¢ et ~irr..r: as al'.. n.A• a.J it rlrEy .rw m.rPri. ..ib rl.r rrnuxy M.mrH In. i n• w b.r. a ~Je re.- rrNnµry rn9rM r 1[~ e'1 r~Hn aNY [ ~'NIN r•[t..] tHl'rOq .plnwi Ne, irrr pr.xr ~ r M tk 1,)1Nr e:n NrM far Wp .r...[rlllLrlr.rli`~tr'iyrrw~ IMh:~i .. r.°. rr FO +Wr enlr,t 'yy n,wi rL•HGwalEfl u:[bMw rr•yl Axllrlal•~A wry r1 NNJUOxt A r.°iJ J.rw arl.'uuN csm .r! Fv [n, ALrt N,. 3 11F 1i fECnUx srlnrlwi o1 T.s m SH MeK 1^.r xlNnsWa r'aquraq Pr Ntrl IHrri l•vr rlr. RrH M'Grc • q 11.~--~+r.....yH rnd OR ~~,naa rnl+ (.1Hr r;re ~lr nr.rr w.a.an tWNe vxH.xea >+NrR• rln r~lv •kr`s Mpn~p ~ fm aiyr Mer Wu a A.b Ey mhe°d ~ : r.A.w+r paF vnl pls'rr1 «pryv r"rnv nsYr rI+cFCall'l W Mt •r b rar'rlvrW Yn a a, er rl`. A .SaW rn IaJS1pIn rrrs+wh rrrlnq arvarw ana rwrr.ltµrr r haYa~a marawrN,;a . .~+i•~a... ~":~i.srn,. a.r kgMS [r FEtTIDrr S.Pna"n. LxW rn TaA :.• .i[. sa r *a rrnl*e Prm a..9 rn eK -~. -.r Nnrun: ~xrr,r mrn Ma da:^anw erc tafrr !wrwl +•~nrr aN,t fAC HurFk AND ~4uan.ney:ar,.ew rsrgrl..+aawas,reo! f"rs:°s vll'nc'nt•r.wm«mranmFROEF Ylsnanl onrnry Nrr.nN L1N 1;l Mn1V ~,.numaa.llarrrn.larl8 onn'+v.rMa rirx r•u nrvurel^n4 y4nk5n~nt~~~.rnln, xn mre ^9 r Wr`I« 4r.r. s+Rr m:.ilNr~A~. pra..<,-G.eln.rYnt orrlM Warrenl` Sk4[Rallr rierJr•ur r'erprn:: rrne Ile lME ne Inr ,rernpry ,ea SkIIFR [ui ih H:;tY FRlvll NF qI A nrHCn~P1 tinanr.V a• oHes ~TJCIwL ER rR UwPI ~Ha.t REUrT TMEtAF ca nrn4 m, ip.n ener yae flsN~N 1'il AS+AEN. y and Pr CM,ry Clrxvlp SF.CTDx 3. O Nigna, it vn [pnkaryraA :•E i:[i ~RpPE Tel' . rl1aNrrenlaTeriyprptnw., InE fUtl• LGi Uf lr• s.-~rNa Mr p~•~rirT.i ylCrrcWar~'larlne}linacrol 4lIE~lE(SRV IrIE IH4NSFEn ORHM1 H'1"'xvs'.a nnvrrxcllM wnren:L rna.ismp IAwal~ allrnlr'rrj"nar:xenw a'ND sc eY IM H..:nasM ena CONLErF t7`~ IVrr.L.vnr c -0 aOR - r4n .Mr,::w m~es o< jury ne .r,;+1 CN CO`IrVEY6 P. r n lay ~~ISal re~',We ^rrr a p Iw'r Inb. DR Na'Ni Nay ur b•P:ncnue aW f~rM 4LM Nr.av tFe aN rx~ °r amON Gr~sl.-~n'ar lna sv..mnca r,: m .ntrcr~my°;•n~nwnpa9,, Fi .r Li rv.,er°r neree.^rw Tern is OiI rCEBTne n.~ragi~Nn~iorxcu'rrne W.Clr4n0`y nr L+n +H.ver., ar renarninp unPaa e~.-s,:,iu~rai~„~ur.o`; i~.area.anw lia.lmrrx Pr.ea..crnr .N .nne L-v a Inr TuAHS,FN o A~rIG to u L l E Aw. ~ ~ e ~ ~vr oi: s c age•,cV s p.`.r ~ mn ~wyMNOn Pr 4 rr« aNS°n arpwscns rP Dary . ' ~ ° ~*cixu~~ous anp,tz-r•n~~r~~- - cps'+^ran °: [-,~Se ,r,; Re,:erarr-~, r ; ~ - ° : ~ - nt.rina:l patra,sler•C_>y c..>`e.r^.Y ., in. ~.la nw~~;..d,r a a . , r.ra GrnrrRa N ~a.,mn~•s rl nr,nn r•rnt me!~s°,aclrmp a^[rl,[.rr ~ rr ~ FOR Sr'1LE SY OlM'~ R ne of Vail's oldest and most prestigious locatlons, th!s Three bedroom/three bash a tlment boasts vr~us of bosh the !~ Pa Gore Range and Goid Peak Fully fssmishedr it has muhiple Inekaif passibtlNES arsd an excellent rental history.Thelocauonissuperb...adjacent to the golf course and tennis coups, across from Gold Peak Ski School and the slopes. Directly on the Towns free bus route. Only qualiOLdbu}'er5needinquire.S315.0p0, n a.a ar ,:l al a -'~ -<,~sr,a,..e::~naa...~. arj~~ rea rlr°m gere•ei prc.-a'IY perry Tna Wr^ r;-~,rt :re°Grenena.mbr:-:e- ~:rpar a «acanv a r-.. sea Re.e,.e:r :r. ~';,`,°w; '" - a Pnv~`e~.r`IC'~ ^e ' Nn - - e,lonr;eaMr,,.rn 'r~~: - a°" ,l'~O:V Nu aC'nn e' .. [ -_ - w'°"'°' ra.an .t e~einarl Pe eomr:c-~rP J''"' ~ ~n - w^r ,Lalpte c' r~ fer,a' •a4 er IrtrSt a ~~~c.-ir ° Town,n_,-,. ,,': ~: ~~avmr -or~9aion'°;r y"VVr_s_-a°,°na+eeeene-p~r~a¢i - mrar.rPa,r,rr.~ Pupon ra prey.-•.~~;• Y •.-. ;.~'-.;t.-r;r~rw~~n,r:~a a,'Ya etr~::nalY.+~nraer r~C°:ry lYt+r.._a"y ep[n o ,ga[ronl. a9'ea e~~r.r 3r; e. p~N~r a..i nc:wl - r,rr.nr,Ea[ex.an¢rerR ~ n ° a i pry: = :t~ ;¢~;~,.'^~•"' Re o: a~ a^v - rtr, ~ r elrrl n .. ~ ro~6en ~ Inr'r~~ra '° `'°"°r tee„' ° perrairny, r ri nr nr 4r'rn°-np,rP~ « _- [nra :An n. y.pJla an neran! rf+'e is 'a'•`at'aWaHOna.a'_•r~see,rw ne,¢.n rarla~nea by are :.n lrne!r ,1:'+-` in3~l ee •ar lr:e saga a^G eacl~f.re ,I^e TO.n arw.ar Hower ,yra J^°r ~ a are r,x c r.ppn s ° ¢ ° _ ~"~a.,.,n.,IpananrPrln,_aYr.r¢nlal !SSnceFecuirem°^rser s'+'.vx•rann r~~„r,4a~a,,,ersanao:n«,,,,. ~sP'a~nanca aumonc:ng:~+. rsa°er,ee ra..;.an,r..a .. ~t+tE n e'~ EiwE.aF. ~ZF~)vALUE OF :rvE HYi~ACE wryn, aLrRE'\fAL UNtlER cRE LEASE (:pLra,:'2p a~ rULLD *g, - . eracnaAn„r.renra„a:r:Prr .,,ermw rnctareg a^r rF~<.al r.r.. Pwa w ~"n°., r. .e„a^R, paa«1° ..ee'a SHALL BE coMau ptwr{D rHF AVERAL;E AkNVAL FE.:AL . 4l L BE 1C~ ,°a T^E ca Pr s^L':E° vJLtIE. THE vL1ENT Of AO ALCaEM HEAL PPO=FAIT rwass 1 R rcE akp THE T{~iL•!aRTr C`N pG M NhIFNA,~_ E pa L1GA- JNSGH+LLNUTeE'~kEL-~F.pfN1xE ANk~~AL RELAY-EARITLLii4T..N LOMAr} Tn.:6v UY%E`JER cAn;rA, rR0 f- MEnrS RECFaw6'p TO aE MA-E rs..wLL BE PARS OK T E GTV4~ Cf Nc JC RATION r~ea'or'ae`tr': i- a; ',1`rni °roM Mr r `°sM apon ny a~¢',ua.a"eoilr';;;.anys'er,a4ylrr~ {e x~evmeM Or s.~re;yr Fa informotior,, Conrad: _ KATHYLECHNEf~ MrV- r~-''`a~e'~~`e"~::e~ :~ raa,r+=:.r,^: rese~.~ea•mec.>-: c• p.0. L3Dx 2242/Va3. Colorado 87657 aiwr. rF'~~~rl r~ re Paym.^L v+ am f.-~° {3037 949%96 evenings ar Sundcjs -`, °a. %°:'."n°-r-a - i•'~F--n-g: .u ne Te.^rC<.'_.: ~i .. .., sra~...-_ °rse p' ,rae bYrgra~rancr c' a , ., -. ~• .._ ~ ~~ - ~~ ~ ~ ' ~L~ ~/) 1l1 a/~y{+~~+~'s}(~ }~ F/'~ppC{l pT.~/~a i l V ~ll ~.r+F1.7 Jly.~• O>11 • V14rJ1 1\VE.:~ . ~ i. £~.'.~.••-:>^~-.a _ tYsjnE^. er,d 6uir •afy the fine rna:cnRr> and dE:j i„y Pt Bn Pld r ~ TyiCeB" 7j:3) e15 .rge, YerSplrfe ' - SV tk3G[l~rTl hnr: n+C[bolcq Vail 15j lit:ayE• nr , r:S bE?t:CfuEty~ ~~ i8frE5C: xd LilC, yH ~ One uE•: Pf li'e !r_rtlE finclMding i IwJ t1~•'}%:,15, k~-en.1MfN]lr]PT, x den. y_~a::Nal rrcY~uved 5('yAf11•:'; Ifan ll`:':iain feSideLKe. raria•nng - °~'~.; ,%~`-">a:~~"<~o<,`' a°na",~en.zn na•:,a, °, o[>,ea.e~l:nn^e. are.-,a °Iany - m ~L..rcrn«aariay YmH•t z•a- me`a:~= ~.~°prlP?';°e w;~anta'arr~~_ ;°° paie :r:e -:-s~ae.asran nr rn qr [uuan.a sml+aar *a.E: eAe .ereyxa G =arr,ca{°in AI a[tm n<MI:'ore ta,en Ca• jcccepa~e u,N o ve a ane y"M¢ Taxrne :c2 ~~ is eci T`waenne N°;acs x,ry«' ~sllarbrp;,rrpas~`e~0a^C cer ne r. H•a" e.e4r ra. ray, a, eparPraa al:: -. ine ame r: H -acs rr:¢ eu"a s.•es. P~rs~.a^I Ip me ter E m,lr, 5e°'A °}.O1:e ~e ~Oneue:. Re.-.:r q,a~r~~s9r3. as emrroea ^.e tiara w~oarn snarr bnneer. ano rnaRO a.,.-v°]~u~ me o rc°esK rnar<ea, ~e.rin ine c~ ter: xe•na.°, or sN:e E- mmaer sV •, - isremprr-i¢.wnusrn9a .s,mla Srgnaruw GenrnLalel«aaiE A.r: T ~' nr, Ur-nar,ce ra, b r sria4re rreas„re PUrra roc- i warranrs ee rri:s- r'r•ean• nle scr {Y anNw, and m: n-~erp m!nC ens jM tna ~nrrnancq +ne p Sttnangane ll vAa •r-Inarelr~racr res.ea, sralr E-!0'Han rp r.-fln pesNPie r.r,nr Ina a, ronn pear Sr.:~eFec•rrmeras, •'~Mr anis cancenrV anPd°~•a•~pu. ee e r ~neJ 4 L~na TraniNr sae. t4N^, TRwN^~Efl ~aprNwfJ4E ON THE TPAk5rtq pF TEAL FROpR,r R c rwn Penes' m,ana e~ ~^airwwx sorb a.ar~on~ br,.~nass r Ir,.e . p. aamL~ar~an or r o[~er. Nyal Qa nay "tlaYTramNr. 'Tranete• M r- rwNETrr Eq qR hVT THE SAME r5 :Y nF -rNG px [B E1:0a0Epr an° ~nee.w5ra1 ':~ •^v SwL E. rant. A$$rGkME:r T, T3A x5FEA. CE.PNGE ro er antt AN IraeS SwrP-snip GR I ::a I prppertE lTUATEO IN )Hf l0 n!a Of crAlt S i eui„encetl p~ anY ecxe- carve ancl. or nrrnq xnew,n or ..nerrey risk praperry snsal.~rT rno `:.n of V®13 cra5 ea o nrerea; a {s r~° SALE Tprrn;G r[o~reYa..a w3S'.~.MFNT CR A' SFER Pr~a Pnssesscrr rrr,-~^s• Try REAL PAPnF.PI'r ~ .. -. 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