HomeMy WebLinkAbout1984- 4 Authorizing an Emergency Appropriation in the Amount of $450,000 in Connection with the Purchase and Acquisition of Certain Real Property Located in the Town form the Pulis Ranch;i. ~. ~ ,,~ ~~
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ORDINANCE NO. 4
~SERIT<,S OF 1984)
AN ORDINANCE AUTHORIZING AN EMERGENCY APPROT?RIATION IN
THE AMOUNT OF $450,000.00 IN CONNECTION WITH THE PUR-
CHASE A.ND ACQUISITION BY THE TOWN OF VA.IL, COLORADO
(THE "TOWN") OF CERTAIN REAL PROPERTY LOCATED IN THE
TOWN FROM THE PULIS RANCH, A COLORADO LIMITED PART- ~ ,
NERSHIP (THE "SELLER") FOR A PURCHASE~PRTCE OF
$2,650,000.00> SUCH REAL PROPERTY TO BE DEVOTED TO
PUBLIC PURPOSES; AND PRESCRIBING OTHER DETAILS IN CON-
NECTION THERE~~TTH.
WHEREAS, t'he Tawn Council of the Tawn did on April 19, 1983
authorize by Resolution (the '"Resolution"} the acquisition by the
Town of certain real property (the "Property"} located in the
Town Pram Seller for a purchase price of $2,650,000.00; and
WHEREAS, by such resolution, the Town Council did authorize
the entering into by the Town of that certain Purchase_Agr'e~ment
(the "Purchase Agreement"}, and, pursuant to such Purchase Agree-
ment, the execution of that certaa.n Promissory Nate (the "Nate")
and Deed of Trust (the "Deed of Trust"); and
-,
WHEREAS, pursuant to the Purchase Agreement, the total
purchase price far the Property is $2,650,000.00, payable as4`.
follows: '' .
A. $450,000.00 payable at closing under the Purchase
Agreement, subject to the adjustments set forth in paragraph 8
thereof, and subject to formal appropriation by the Town Council
of said sum for such purpose;
B. $2,200,000.00 to be payable to Seller pursuant to
the Note, attached to the Purchase Agreement as Exhibit B,.bear-
ing interest at a rate of thirteen percent (13~} per annum, pay-
able in fifteen (15) equal annual installments of principal and
accrued interest, said Nate being due and payable, at Seller's
option, ten (10) years from the date of its execution, and being
secured by the Deed of Trust attached to the Purchase Agreement
as Exhibit C; and
WHEREAS, by Ordinance dated April 19, 1983, the Town Council
did authorize said appropriation of $450+000.00 for closing under
the Purchase Agreement, together with such other sums necessary
to effect such closing; and
4~T~iEREAS, said appropriation lapsed as of the expiration of
the Town's 1983 fiscal year; and
WHEREAS, the Town has an equitable interest in said Property
and Seller has given native of its intent to close under the Pur-
chase Agreement.
BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL,
COLORADO:
5ectian 1. That the Resolution, the Purchase Agreement, the
Note, the Deed of Trust, and said Ordinance of the Town Council
dated April 19, 19$3 be, and are hereby incorporated herein by
this reference thereto.
Section 2. That the Town Council finds and determines that,
because Seller has given notice of its intent to close under the
Purchase Agreement, a public emergency exists affecting real
property in which the Town has an equitable interest and that an
emergency appropriation is necessary to meet such emergency. .
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Section 3. That an emergency appropriation in the amount of
$450,QOQ.00, together with such other sums as are necessary for
closing under the Purchase Agreement, be, and is hereby autho-
rized from such funds of the Town as are legally available far
such payment.
section 4. That notwithstanding that said closing under the
Purchase Agreement shall occur an or after January 18, 1984, such
closing shall be deemed to be effective as of January 11, 1984.
Section 5. That this emergency ordinance shall be effective
upon its final passage.
ADOPTED AND APPRpVED this 17th day of January, l9$4.
(5 ~ A L)
Attest:
~. ~'/ ~~
Town Clerk
TOWN OF VAIL,
Eagle County, Colorado
•~ M~a r
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75 south frontage road • vail, Colorado 81657 • (303) G7fi-70QQ
office of the mayor
CERTIFICATION
STATE OF COLORADO }
} S5.
COUNTY OF EAGLE }
THE FOREGOING IS A FULL, TRUE, RND CORRECT COPY AS THE SA3~IE
'APPEARS UPON THE ORIGINALtt RECORDS IN MY OFFICE.
.DAT t,- ~ r•~1,~7cQ~ TIME: ~~1~ ,q,y~.
PAMELA A. BRANDMEYER, TOWN ~iLERIC, TOWN OF UAiL
STATE OF COLORADO }
ss.
COUNTY OF EAGLE )
SUBSCRIBED AND SWORV TO BEFORE ME APPEARED PAMELA A. BRANDMEYlrR,
TOWiV CLERK OF THE TOWN OF UAIL, THIS 10TH DAY OF JANUARY, 19$4.
MY COMMISSION EXPIRES: ~~'~~~~ ~ ~`}~> It3
C~~/~C~ (it • ~~l~t.=cam: ti 1
NOTARY PUBLIC ~ ,
RDDRESS
~~,
ADDRESS ~
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• ~~ ~
C E R T I F I E D R E C O R D
of proceedings of
THE TOGaN COUNCIL OF THE TDWN OF VAIL
EAGLE COUNTY, COLORADO
relating to
AN EMERGENCY APPROPRIATION IN THE AMOUNT Off' $A50,000.00
IN CONNECTION WITH THE PURCHASE OF CERTAIN REAL PROPERTY
FOR PUBLIC PURPOSES FROM THE PULIS RANCH,
A CDLORA.DO LIMITED PARTNERSHIP
~ ~
NOTICE OF MEETING
TO: THE TOWN CQiJNCIL OF THE `S'OWN OF VAIL
STATE OF COLORADO
NOTICE IS HEREBY GIVEN that a regular meeting of the Town
Council of Vail, Colorado, will be held at Council Chambers, the
Municipal Building, in Vail, Colorada, on Tuesday, the 17th day
of January, 1984, at the hour of 7:30 o'clock p.m., at which
meeting the Council wi11 consider and act upon an emergency ap-
propriation in the amount of $450,000.00 in connection with the
purchase and acquisition of real. property owned by the Pulis
Ranch, a Colorado limited partnership, and take up any other
business to come before it,.._-.-- -
GIVEN under my hand and the seal of said Town as of the ~
day of January, 1984. ,~
Town Clerk Q
ACKNOVdLEDGMENT OF NOTICE
AND CONSENT TO MEETING
{de, the undersigned members of the Town Council of the Town
of Vail, Colorado, do hereby acknowledge receipt of the forego-
ing Notice of Meeting in such Notice and in the tame and manner
of service thereof upon us, and consent and agree to the ho~.dang
of such meeting at the time and place specified in said Notice,
and to the transaction of any and all business which may come be-
fore. such meeting.
,~d,~P,
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1
• ~ •
STATE OF COLORADO }
COUNTY OF EAGLE ) ss:
}
TOWN OF VAIL }
The Tawn Council of the Town of Vail, Eagle County,
Colorado, met in regular session at the Council Chambers, in
Vail, Colorado, being the regular meeting place of the Board, at
the hour of 7:30 o'clock p.m., on Tuesday, the 17th day of
January, 1984.
Present:
Mayor:
Mayor Pro Tem:
Counci~.mertFbers:
Rodney Slifer
Paul Johnston
Gail Wahrlie h.
Col 1 een Kline
Kent~Rose
Hermann Staufer
Charles €Z. Anderson
Also present:
Tawn Clerk: Pain Brandmeyer
Town Attorney: Larry Eskwith
Town Manage: Richard Caplan
Absent- ~~ ~.~~~
Thereupon, ~~'a introduced and there was
(read in full the follo~ing,~rdinance:
2
• ~ •
It was thereupon moved o nci~.member ~-t''~~j,~,s~~ a.nd
seconded by Councilmembex ~~ l,jQJ that the foregrging Or-
dinance No. ~ read aloud in full at this meeting as afore-
said, be now placed on its final passage, and that all rules of
the Council which might prevent, unless suspended, the final
passage and adoption of said Ordinanrce at this meeting be, and
the same are hereby suspended.
The question being upon the adoption of said motion and the
suspension of the rules, the roll was called with the fallowing
result:
Those voting AYE:
Those voting NAY:
Those absent:
Rodney S7 i fer
Paul Johnston
Gail Wahrlid'i_
Colleen Kline
Kent Rose
Hermann Staufer
Charles R. Anderson
~~
~p members of the Town Council having voted in favor
of sand motion, the presiding officer thereupon declared the
motion carried.
Thereupon, after consideration of other business, the
meeting was adjourned.
(S E ,A L)
.~
Attest:
N . ~~! f.~.~,.J
'Fawn G1erk
r~. .
s
/l -, (_ -
.~ ~~ayor ~
5
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STATE OF COLORADO
C0~3L~7TX OF EAGLE
TOWN O•F VAZL
~ •
ss.
}
I, Pam Brandmeyer, Town Clerk, of Vail, Colorado, do hereby
certify that the foregoing pages numbered 1 through 5 contain a
true and correct copy of the proceedings taken by"the Town Coun-
cil of the Town at a regular meeting thereof held on Tuesday, the
17th day of ~Tanuax~y, 198A•, so far as said praceedir}gs relate to
the final passage and adoption of Ordinance No. ,(~, and that
said original Ordinance No. ~ has been duly authenticated by
the signatures of the Mayor, as presiding officer of the Council,
and myself, as Town G1erk of the Town.
IN WITNESS WHEREOF, I have hereunto set my ~}•~and and affixed
e official seal of said Town of~Vai1, this ~c4, day of
... ..
(5 E A L)
~~
~m~ ~. ~^~aa~~
- _ Town Clerk Q
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