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HomeMy WebLinkAbout1984-12 Authorizing the Issuance of Its General Obligation Bonds, Series 1984 in the Aggregate Principal Amount of $1,600,000.~, '~~~ 4 ~~ azoiL o4tzs/s4 ~ ~~~' '(/ CERTIFIED RECORD OF PROCEEDINGS OF THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO RELATING TO AN ORDINANCE AUTHORIZING THE ISSUANCE OF TTS GENERAL OBLIGATION BONDS, SERIES 1984 DATED DUNE 1, 1984 TN THE AGGREGATE PRINCIPAL AMOUNT OF ~1,600,00Q .~ .~ ~ ~ • ~ ~. ' STATE 0~' COLORADO COUNTY OF EAGLE ) ss. TOWN OF VATL } The Town Council of the Town of Vail, Colorado, met in regular session at the Vail Municipal Building, the regular meeting place thereof in the Town, on Tuesday, the lst day of May, 1984, at the hour of 7:3Q p.m. The following members of the Town Council were present: Mayor: _.:.~..~~ w~li£~-r Mayor Pro Tem: Council Members: Paul Johnston ~~ur~~s R. A nder~~n Hermann Staufer Gail Wahrlich Colleen Kline Kent Rose The following members of Town Co ncil were absent; ~~le(a cSlr-~,r a The following persons were also present: Town Manager: Town Director of Finance: Richard Caplan William Pyka Town Attorney: Town Clerk: Lawrence A. Eskwith Pam Brandmeyer Thereupon, the following proceedings, among others, were had and taken: The Mayor informed the Council that Ordinance No. 12, Series of 1984, relating to the issuance of General Obligation Bonds, Series 1984. dated June 1, 1984, in the aggregate principal amount of $1,600,000, which was introduced, passed on first reading, and ordered published at a regular meeting of the Town Council held on April 17, 1984, was duly published in full in The Vail Trail, a newspaper of general circulation in the Town, in its issue dated April 20, 1984, and that the publisher's affidavit of said publication is now on file in the office of the Town Clerk. The Mayor further informed the Council that pursuant .to Resolution No. 1Q-84, the Official Notice of Bond Sale for such general obligation bonds was duly published in The -l- ,~ ~ r 1 v e Vail Trail in its issue dated April 20, 1984 and the publisher's affidavit of said publication is now on file in the office of the Town Clerk. Pursuant to the Official Notice of Bond Sale, the Finance Director of the Town received and opened sealed bids for the Bonds at 11:00 a.m. on the date hereof nd the lowest and best bidder in accordance with such notice was~G~d(l~U' !~U,(Yt~,, ~~ ~hr~er C~otarado . Council Member ~a-u/~.5~$xJ then read the Ordinance by its title, sufficient copies having-previously been made available to the Council and to the public. The Mayor then declared that this was the time and place established for a public hearing on the Ordinance and the meeting was then opened for such purpose, Thereupon the following persons appeared: (Indicate name and substance of remarks.) Thereupon, all persons having been given an opportunity to speak, the meeting was declared closed. Council Member ~ then moved the passage and adoption of Ordinance N ].2, Series of 1984, with amendments from the date of the first reading thereof, in the following form providing for such amendments, sufficient copies of the amended -form of the Ordinance having previously been made available to the Council and to the public: -2- u "~ ~ r ORDINANCE NO. 12 SERIES OF 19$4 AN ORDINANCE AUTHOF2IZTNG THE ISSUANCE OF TOWN OF VAIL, COLORADO, GENERAL OBLIGATION BONDS, DATED JUNE 1, 1984, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,600,000, FOR THE PURPOSE OF PAYING A PORTION OF THE COST OF CONSTRUCTING AND INSTALLING IMPROVEMENTS TO THE LTONSHEAD MALL AND SURROUNDING AREAS. W~iEREAS, at an election duly called and held in the Town of Vail, Colorado {the "Town"~, on March 8, 1983, there was stabmitted to .the qualified registered electors of the Town the question of issuing general obligation bonds for the purpose of paying the Town's share of the cost o~ constructing and installing improvements to the Lionshead Mall and surrounding areas in an aggregate principal amount not to exceed $1,600,000; and -WHEREAS, the results of the election were duly canvassed byy the Mayor and the Town Clerk of the Town on March 9, 1983; and WHEREAS, a majority of the votes cast on the question were in favor of issuance of the bonds; and WHEREAS, pursuant to Resolution P1o. 10-84 the Town Council of the Town (the "Council"} has heretofore authorized the publication and mailing of Official Notice of Bond Sale with zespect to Town of Vail, Colorado, General Obligation Bonds, Series 1984, dated June 1, 1984, in the aggregate principal. amount of $1,600,000 (the "Bonds"); and WHEREAS, sealed bids for the Bonds were received and opened by the Town Finance Director on May 1, 2984, and it was determined that$bL~~'12Y'~~, ~ ~hL, , Q~ ~h~~1" , ~~OV'GLC@ (the "Purchaser") was the lowest and best bidder therefor; and WHEREAS, it is now necessary that the Council award the sale of the Bonds to the Purchaser and authorize the issuance of the •: Bonds in conformity with the Purchaser's bid. SE IT ORDAINED SY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO, A5 FOLLOWS; Section 1. Award of Sale. The sale of the Bonds is hereby awarded to the Purchaser at the price specified in the Purchaser's bid and upon the terms set forth in this Ordinance. Section 2. Authorization and Description of Bonds, For the purpose of paying a portion of the cost of constructing and installing improvements to the Lionshead Mall and surrounding -3- ~ r t annum. The actual net effective interest rate for the Bonds is~:~IDfA~ ~ per annum. Section 4, Nature of Obligation. The Bonds shall be general obligations of the Town and shall be payable from general ad valorem taxes except as they may actually be paid from other revenues as provided herein. Section 5. Payment of Principal, Interest and Premium. The principal of, interest on, and any premium dine in connection with the redemption of the Bonds shall be payable in lawful money of the United States of America to the registered owners of the Bonds by the Central. Bank of Denver, Denver, Colorado, or its successor as paying agent {the "Paying Agent"}. The principal shall be paid t.o the registered owner of each Bond upon presentation and surrender thereof at maturity or upon prior redemption. Except as hereinafter provided, the interest shall be paid to the registered owner of each Band determined a~s o£ the close of business on the regular record date, which shall bye the fifteenth day of the calendar month next. preceding the_ interest payment date, irrespective of any transfer of ownership o€ the Bond subsequent to the regular record date and prior to such interest payment date, by check or draft mailed to such registered owner at the address appearing on the registration books of the Town maintained by the Central Bank of Denver, Denver, Colorado, or its successor, as registrar (the "Registrar"). Any interest not paid when due and any interest accruing after maturity shall be paid to the registered owner of each Bond entitled to receive such interest determined as 'of the close o€ business on the special record date, which shall be fixed by the Paying Agent for such purpose, irrespective of any transfer of ownership of the Bond subsequent to such special record date and prior to the date fixed by the Paying Agent for the payment of such interest, by check or draft mailed as aforesaid. Notice of the special record date and of the date fixed for the payment of such interest shall be given by sending a copy thereof by certified or registered first-class postage prepaid mail, at least ten {10} days prior to the special record date, to the Purchaser and to the registered owner of each Bond upon which interest will .be paid determined as of the close of business on the day preceding such mailing, at the address appearing on the registration books of the Town maintained by the Registrar. Any premium shall be paid to the registered owner of each Band upon presentation and surrender thereof upon prior redemption. Section 6. Redemption of Bonds. Bonds maturing in the years 1985 through 1994, are not redeemable prior to their respective maturity dates. Bonds maturing in the years 1.995 and thereafter are redeemable prior to their respective maturity dates, at the option of the Town, on December 1, 1994, and on any interest payment date thereafter, in inverse. order of maturity and by Iot within a maturity, upon payment of the .. 5 _ n t r t principal amount thereof, accrued interest to the redemption date, and a premium equal to one percent (1$) of the principal. amaunt of the Bonds so redeemed. Bonds issued in denominations which are integral multiples of $5,000 may be redeemed in part. Such Bonds shall be treated as representing a corresponding number of separate Bonds in the denomination of $5,000 each. Any such Bond to be redeemed in part shall be surrendered for partial redemption in the manner hereinafter provided for transfers of ownership: Upon payment of the redemption price of any such Bond redeemed in part the registered owner thereof shall receive a new Bond or Bonds of authorized denominations in aggregate principal amount equal to the unredeemed portion of the Bond surrendered. Notice of redemption shall ba given by the Paying Agent in the name of the Town by sending a copy thereof by certified or registered first-class postage prepaid mail, at least thirty (30) days prior to the redemption date, -to the Purchaser and to the registered owner of each of the Bonds being redeemed_ determined as of the close of business on the date preceding the first mailing o~ such notice, at the address appearing an the registration books of the Town maintained by the Registrar. Such notice shall specify the number or numbers of the Bonds to be redeemed, whether in whole or in part, and the date fixed for redemption and shall further state that on the redemption date there will be due and payable upon each Bond or part thereof so to be redeemed the principal amount or part thereof plus accrued interest thereon to the redemption date plus any premium due, and that from and after such date interest will cease to accrue. Failure to maxi any notice as aforesaid or any defect in any notice so mailed with respect ~.o any Bond shall not affect the validity of the redemption proceedings with respect to any other Bond. Any Bonds redeemed prior to their respective maturity dates by call for prior redemption or otherwise shall not be reissued and shall. be cancelled the same as Bonds paid at or after maturity. Section 7. Execution and Authentication of Bonds. The Bonds shall be signed by and an behalf of the Town wzth th.e ••• facsimile signature of the Mayor, shall bear a facsimile of the seal of the Town, shall be signed and attested with the facsimile signature of the Town Clerk, and shall be authenticated by the manual signature of a duly authorized officer of the Registrar. Should any officer whose facsimile signature appears on the Bonds cease to be such officer before issuance or authentication of any Bond, such facsimile signature shall nevertheless be valid and sufficient for all purposes, No Bond shall be valid or become obligatory for any purpose or be entitled to any security or benefit under this Resolution unless and until the certificate of authentication on such Bond shall have been duly executed by the Registrar, and such _~_ ~ t executed certificate upon any such Hoed shall be conclusive evidence that such Bond has been authenticated and delivered under this Resolution. The certificate of authentication on any Bond shall be deemed to have been duly executed by the Registrar if signed by an authorized officer or_ signatory thereof, but it shall not be necessary that the same officer or signatory sign the certificate of authentication on all of the Bonds. Section 6. Registration, Transfer and Rxchange of Bonds. Upon their execution and authentication and prior to their delivery the Bonds shall be registered for the purpose of payment of principal and interest with the Registrar. Thereafter, the Sands shall be transferable only upon the registration books of the Town maintained by the Registrar, by the Central Bank of Denver, Denver, Colorado, or its successor, as transfer agent {the "Transfer Agent") at the request of the registered owner thereof or his or its duly authorized attorney-in-fact or legal representative. The Registrar or the Transfer Agent shall accept a Band for registration or transfer only if the registered owner is to be an individual, a corporation. a partnership, or a trust. A Bond may b.ey transferred upon surrender thereof together with a written instrument of transfer duly executed by the registered owner or his or its duly authorized attorney--i.n-fact or legal representative with guaranty of signature satisfactory to the Transfer Agent, containing written instructions as to the details of the transfer, along with the social security number or federal employer identification number of the transferee and, if the transferee is a trust, the names and social security numbers of the settlor and the beneficiary of the trust. Transfers shall be made at the expense of the transferor, and the Transfer Agent may also require payment of a sum sufficient to defray any tax or other governmental charge that may be impas~ed in connection with any transfer of Bonds. No r~egistratian or transfer of any Bond shall be effective until entered an the registration books of the Town maintained by the Registrar and Transfer Agent. The Registrar and Transfer Agent shah. authenticate and. deliver to the new registered owner a new Bond or Bonds o£ the same aggregate principal amount, maturing in the same year, and bearing interest at the same per annum rate as the Bond or Bonds surrendered. Such Bond or Bonds shall be dated as of their date of authentication, Th.e Transfer Agent shah, not be required to transfer ownership of any Band during the fifteen (15) days prior to the first mailing of any notice o£ redemption or to transfer ownership of any Bond selected for redemption on or after the date of such mailing. The registered owner of any Bond or Bonds may also exchange such Bond or Bonds for another Bond or Bonds of authorized denominations. New Bonds delivered upon any transfer or exchange shall be valid obligations of the Town, evidencing the same debt as the Bonds serrendered, shall be secured by this Ordinance, and shall be entitled to all of the security and benefits hereof to the same extent as the Bonds surrendered. The Town may deem and treat -7- •r r ~ the person in whose name any Bond is last registered upon the books of the Town maintained by the Registrar as the absolute owner thereof for the purpose of receiving payment of the p~'incipal of and interest on such Bond and for all other purposes, and alb. such payments so made to such person or upon his order shall be valid and effective to satisfy and discharge the liability of the Town capon such Bond to the extent of the sum or sums so paid, and the Town shall not be affected by any notice to the contrary. Section 9. Form of Bonds. The Bonds shall be in substantially the following farm: -- -8- [Form of Bond] (Text of Face) UNITED STATES OF AMERICA STATE OF COLORADO COUNTY OF EAGLE TOWN OF VAIL GENERAL OBLIGATION BOND ' SERIES 1984 Na. R- ~ Interest Maturity Original CCtSIP Rate Date Issue Date Number December ]., June 1, 1984 REGISTERED OWNER: PRINCIPAL SUM: The Town of Vail, in the County of Eagle and State of Colorado, for value received, hereby acknowledges itself indebted and promises to pay to the Registered Owner (specified above), or registered assigns, the Principal Sum (specified above) , in lawful money of the United States of America, on the Maturity Date (specified above), with interest thereon from June 1, 1984, or the interest payment date to which interest has been paid next preceding the date hereof, whichever is later, ~o the Maturity Date, except if redeemed prior thereto, at the per annum interest Rate {specified above), payable semiannually on the 1st day of June and the lst day of December of each year, commencing on the first such date after the date hereof, in the manner provided herein. If upon presentation at maturity payment of the Principal Sum of this Bond is not made as provided herein, interest shall continue at the Interest Rate until the Principal Sum is paid in full. REFERENCE XS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS BOND SET FORTH ON THE REVERSE HEREOF. The full faith and credit of the Town of Vail, in the County of Eag.ie and State of Colorado, is hereby pledged for the punctual payment of the principal of and interest on this Band. -9- c~ ! This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the Ordinance authorizing the issuance of this Bond until the certificate of authentication hereon shall have been signed by the registrar. IN WITNESS WHEREOF, the Town Council of the Town of Vail, Calarado, has caused this Bond to be signed i.n its name and on its behalf with the facsimile signature of the Mayor of the Town, to be sealed with a facsimile seal of its seal, and to be signed and attested with the facsimile signature of its Town Cleric. TOWN OF VAIL, COLORADO (FACSIMILE} ( SEAL } By: (Facsimile Signature) Mayor ATTE$T: {Facsimile Signature} Town Clerk DATED: CERTIFICATE OF AUTHENTICATION This Bond is one of the series issued pursuant to the Ordinance therein described, Printed on the reverse hereof is the complete text of the opinion of bond counsel, Bal~.ard, Spahr, Andrews & Ingersoll, Denver, Ca~.orada, a signed copy of which, dared the date of original issuance of the Bonds therein described, is on fi~.e with the undersigned. Central Bank v£ Denver, as Registrar -zo~ By: (Manual Signature) Authorized Officer ~ ~ t (Text of Reverse) Bonds of this issue maturing in the years 1985 through 1994, are not redeemable prior to their respective maturity dates. Bonds of this issue maturing in the years 1.995 and thereafter are redeemable prior to their respective maturity dates, at the option of the Town, on December 1, 1994, and on interest payment dates thereafter, in inverse order of maturity and by lot within a maturity, upon payment of the principal amount thereof, accrued interest to the redemption date, and a premium equal. to one percent (i~) of the principal amount of the Bonds so redeemed. -~ This Bond may be redeemed in part if issued in a denomination which is an integral multiple of $5,Ofl0. 1n such case this Sond shall be surrendered in the manner provided for transfer of ownership. upon payment of the redemption price the Registered Owner shall receive a new Bond or Bonds of authorizAd denominations in aggregate principal amount equal to the unredeemed portion of this Bond. The principal of, interest on, and any premium dui in connection with the redemption of this Bond are payable to •the Registered Owner by the Central Bank of Denver, Denver, Colorado, or its successor, as paying agent. The principal shall be paid to the Registered Owner upon presentation and surrender of this Bond at maturity or upon prior redemption. Except as hereinafter provided, the interest shall be paid to the Registered Owner determined as of the close of business on the regular record date, which shall. be the fifteenth day of the calendar month next preceding the interest payment date, irrespective of any transfer of ownership hereof subsequent to the regular record date and prior to such interest payment date, by check ar draft mailed to the Registered Owner at the address appearing on the registration books o~ -the Town maintained by the Central Bank of Denver, Denver, Colorado, or its successor, as registrar. Any interest hereon not paid when due and any interest hereon accruing after maturity shall be paid to the Registered owner determined as of the close of business an the special record date, which shall be fixed by the paying agent for such purpose, irrespective o~ any transfer of ownership of this Bond subsequent to such special record date and prior to the date fixed by the paying agent for the payment of such interest, by check or draft mailed as aforesaid. Notice of the special record date and of the date fixed for the payment of such interest shall be given by sending a copy thereof by certified or registered first-class postage prepaid mail, at least ten {10) days prior to the special record date, to the Central Bank of Denver, Denver, Colorado, and to the registered owner of each Bond upon which interest will be paid determined as of the close of business on the day preceding such mailing, at the address appearing on the registration books of the Town maintained by the registrar. Any premium shall be paid to the -11- ~ <~ t Registered Owner upon presentation and surrender of this Bond upon prier redemption. Notice of redemption of any Sands shall be given by the paying agent in the name of the Town by sending a copy of such notice by certified or registered first-class postage prepaid mail, at least thirty (30) days prior to the redemption date, to the Central Bank of Denver, Denver, Colorado, and to the registered owner of each of the Bonds being redeemed, determined as of the close of business on the day preceding the first mailing of such notice, at the address appearing on the registration books of the Town maintained by the registrar. Such notice shall specify the number or numbers of the Bonds to be redeemed, whether in whole or in part, and the date fixed for redemption and shall further state that on the redemption date there will be due and payable upon each Bond or part thereof so to be redeemed the principal amount ar part thereof plus accrued interest thereon to the redemption date plus any premium due, and that from and after such date interest will cease to accrue. Failure to mail any notice as aforesaid or any defect in 'any notice so mailed with respect to any Bond shall not affect the validity of the redemption proceedings with respect to any other Bond. This Bond is one of a series issued by the Town Council of the Town of Vail, Colorado, for the purpose of providing funds to pay a portion of the cost of constructing and installing improvements to the Lionshead Mail and surrounding areas in the Town and the costs incidental thereto, by virtue of and i~n full conformity with the Constitution of the State of Colorado, the home rule charter of the Town, and ali ether laws of the State of Colorado thereunto enabling, and pursuant to an Ordinance of the Town Council duly adopted prior to the 'issuance of 'this Sond. It is hereby recited, certified and warranted tFiat all the requirements of law have been fully complied with by the groper officers of the Town in issuing this Bond. It is further hereby recited, certified and warranted that the total indebtedness of the Town, including that of this Bond, does not exceed any constitutional, charter ar statutory limitation of the State of Colorado; that at an election lawfully held in the City on the 8th day of March, 1983, the issuance of this Band was duly authorized by the qualified registered electors of the Town voting at said election; and that prevision has been made for the levy and collection of a direct annual tax upon all taxable property in the Town and the application of certain sales tax revenues of the Town sufficient, together with other legally available funds, to pay the interest on and the principal of this Bond as the same respectively become due and, from such sales tax revenues, to create and maintain a reserve therefor. --12~ ~ ~ ! This Bond is transferable orly upon the registration books of the Town maintained by the registrar by the Central Bank of Denver, Denver, Colorado ar its successor, as transfer agent, at the request of the Registered owner or his or its duly authorized attorney-in-fact or legal representative, upon surrender hereof together with a written instrument of transfer duly executed by the Registered Owner or his or its duly authorized attorney-in-fact or legal representative with guaranty of signature satisfactory to the transfer agent, containing written instructions as to the details of the transfer, along with the social security number or federal employer identification number of the transferee and, if the transferee is a trust, the names and social security numbers of the settlor and beneficiary of the trust. Transfers shall be made at the expense of the transferor, and the transfer agent may also require payment of a sum sufficient to defray any tax or other governmental charge that may be imposed in connection with any transfer.of Bonds. No registration or transfer of this Bond shall be effective until entered on the registration books of the Town maintained by the registrar and transfer agent. The registrar and transfer agent shall authenticate and deliver to~ the new registered owner a new Bond or Bonds of the same aggregate principal. amount, maturing in the same year, and bearing interest at the same per annum rate as the Bond or Bands surrendered. Such Bond shall. be dated its date of authentication. The transfer agent shall not be required to transfer ownership of this Bond during the fifteen (15) days prior to the first mailing of any notice of redemption or to transfer ownership of any Bond selected for redemption•on or after the date of such mailing. The Registered Owner may also exchange this Bond for another Bond or Bonds of authorized denominations. The Town may deem and treat the person in whose name this Band is last registered upon the books of the Town maintained by the registrar as the absolute owner hereof far the purpose of receiving payment of the principal of and interest on this Bond and for all other purposes, and all such payments sa made to such person or upon his order shall be valid and effective to satisfy and discharge the liability of the Town upon this Bond to the extent of the sum or sums so paid, and the Town shall not be affected by any notice to the contrary. _13_ ! t (Assignment) ASSIGNMENT FOR VALUE RECEIVE©, the undersigned transfers unto PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE sells, assigns and (Name and Address of Assignee) the attached Bond and does hereby irrevocably constitute and appoint . , or its successor, as registrar and transfer agent, to transfer said Bond an the books kept far registration thereof. Da t8d : Signature guaranteed: (Bank, Trust Company or Firm) NOTICE: The signature to this assignment must correspond with the name of the Registered Owner as it appears upon the face of the attached Bond in every particular without alteration, or Enlargement or any change whatever. (End of Form of Bond1 -14- ^ ~ t Section 10. Delivery of Bonds; Application of Proceeds. The Bonds, when executed as provided by law, shall be delivered by the Town Finance Director to the Purchaser upon receiving full payment therefor in accordance with the bid of the Purchaser. The proceeds derived from the Bond sale shall be used for the purposes stated herein and for no other purposes, provided, however, that any portion of the bond proceeds may be temporarily invested pending such use, with such temporary investment to be made consistent with the covenant hereinafter made concerning arbitrage bands. Neither the Purchaser nor the registered owner of any Bond shall be in any way responsible for the application of the proceeds of the Bonds by the Town ar any of its officers. Section 11. Tax Levv. Far the purpose of paying the interest on and principal of the Bands as the same respectively become due and payable, the Council shall annually fix and certify a rate of levy for ad valorem taxes to the Board of County Commissioners of Bogle County, Colorado, which taxes, in addition to all other taxes, when levied on all of the taxable property in the Town, in each of the years 1985 to 20Q3,T inclusive, will xaise ad valorem tax revenues sufficient to meAt promptly such Band principal and interest payments, as well as any other requirements of the Town far such tax revenues. Such taxes shall be collected in the same manner as other Town taxes and when collected shall be applied solely for the payment of the principal of and interest on the Bonds, until the Bonds, bnth principal and interest, shall be fully paid, satisfied and discharged. Nothing herein shall be so construed as to prevent the Tawn from committing and applying any other funds that may now or hereafter be in the treasury of the Town and legally available far the purpose of ~ payment of the principal of or interest on the Bonds, and upon the application of any other such funds as aforesaid the ad valorem tax mill levy ar levies as provided herein may thereupon ~be diminished to the extent the requirements for such Bond principal and interest payments far the particular year are thereby diminished. In the event any of said tax levies that may be made by the Town shall £ail to produce an amount sufficient to pay the principal of and interest on the Bonds becoming due in the next succeeding year, the deficit shall be made up in the next levy, and taxes shall continue to be levied until the Bands and the interest thereon shall be paid in full.. . Section l2. Sales Tax Revenues; Reserve Fund. A. Notwithstanding the foregoing provisions for ad valorem tax levies, the Town hereby further covenants and agrees that sa long as the Bonds remain outstanding and unpaid, it will Levy, administer, enforce and collect the sales tax authorized by (]rdinance No. 11, Series 1973, as amended, to the extent of an amount to be not less than 4~ of gross receipts derived from the -15- ~ ! sale of tangible personal property and the furnishing of services now or hereafter subject to sand sales tax. The Town covenants and agrees that all sales tax revenues derived from one--half of said 4$ of said gross receipts as authorized in Ordinance No, 11, Series 1973, as amended (the "Pledged Sales Tax Revenues"), shall be and hereby are irrevocably and solely pledged and set aside to pay the interest on and the principal of the Bonds, as the same become due and payable from year to year, on a parity with the Town°s obligation to pay from the Pledged Sales Tax Revenues the interest on and the principal and sinking fund installments of the Town's Series 1982 General Obligation Bands dated June 1, 1982 (the "Series 1982 Bonds"~, issued pursuant to Ordinance Na. 13, Series of 1982, of the Town in three series designated as 1'General Obligation Refunding Bonds, Series 1982-A" in the aggregate principal amount of $7,000,000, "General Obligation Bonds, Series 1982-B" i.n the aggregate principal amount of $2.900,000 and "General Obligation Bonds, Series 1982-C" in the aggregate principal amount o£ $9,870,000 or general obligation bonds of the Tawn hereafter issued. provided that the Pledged Sales 'Pax Revenues may also b.e pledged and used for the payment of the debt service on any- other or additional general obligation bonds of the Town which may be issued hereafter from time to time, provided that such other or additional general obligation bonds shall be on a parity with or subordinate to (but not prior to or superior to) the Bonds with respect to the Pledged Sales Tax Revenues. B. Pursuant to Ordinance No. 13, Series of ].982 of the Town, the Town created a Reserve Fund (the "Reserve Fund") for the purpose of securing the principal of, sinking fund installments, and interest on the Series 1982 Bonds and additional general obligation bonds of the Town which may be issued thereafter from time to time, provided that such additional general obligation bonds shall be on a parity with the Series 1982 Bonds with respect to the P1-edged Sales Tax Revenues. The Reserve Fund shall be held by the paying agent for the Series 1982 Bonds and moneys in it shall be applied to the payment of the principal of, sinking fund installments, and interest on the Series. 1982 Bonds, the Bonds and additional bonds if such principal, sinking fund installments, and interest ~.. are not paid when due. Moneys in the Reserve Fund so used shall promptly be replaced from legally available funds of the Town. At the time of khe delivery of and payment for the Series 1982 Bands the Town deposited $1,200,000 Ynto the Reserve Fund from the Series 1982 Bond proceeds. Pursuant to Ordinance No. 13, Series of 1982, beginning on December 1, 1983, and on each December 1 thereafter to and including December 1, 1967, the Town is obligated to deposit from the Pledged Sales Tax Revenues after khe payment of debt service on the Series 1982 Bonds and additional parity bands, including the Bonds, an amount equal to twenty percent (20$) o£ the amount necessary to make the total moneys on deposit in the Reserve Fund equal -I6- ! c~ ! $1,42p,425, which amount is equal to one-half (1/2) of the maximum principal, sinking fund installment, and interest falling due in any future year on the Series 1982 Bonds. Further the Town covenanted that it would not issue additional parity bands unless the Reserve Fund was increased by an amount equal to one--half (1/2) of the maximum principal, sinking fund installment, and interest falling' due in any future year on such additional parity bonds. To the extent such amount was not deposited in the Reserve Fund at the delivery and payment for additional parity bands, the Town agreed to .deposit twenty percent {20.x) of such unfunded amount an the December l in the fiscal year next following the fiscal year in which such additional parity bonds were issued and on December 1 of each of the four {4) succeeding years thereafter. In accordance with the covenants made by the .Yawn in Ordinance No. l3, Series of 1982, the Town shall deposit to the Reserve Fund, on December ~., 1985, and on each December 1 thereafter through December 1, 1989, the sum of $~9r c~[~~,~g which sum is equal to twenty percent (20~) of one--half (1/2) of the maximum principal and interest falling due in any future year on the Bands. Pursuant to Ordinance No. 13, Series of 1982, and this Ordinance, until such time as the Reserve Fund has on deposit an amount equal to one-half (1/2) of the maximum principal, sinking fund installment, and interest falling due in any future year on the Series 1982 Bands, the Bonds and any additional pari±-y bonds, investment earnings on the Reserve Fund shall remain in the Reserve Fund; after such time investment earnings shall kie deposited in the Town's Open Space and Capital Improvement Fund. In the case of bond maturities subject to sinking fund redemption, the Reserve Fund obligation shall be calculated by considering sinking fund installments as principal payments. Moneys deposited in the Reserve Fund with respect to the Bonds may be applied to the payment of principal of and interest on the Bonds to the extent moneys pledged for that purpose are not available therefore, and shall be applied to the payment of the final principal 'and interest due on the Bonds. C. To the extent that the debt service and Reserve Fund obligation on all of the general obligation bonds of the Town which may be issued from time to time (including but not limited to the Bonds authorized herein) and which are payable in whole ar in part from the Pledged Sales Tax Revenues, is fully provided far in any fiscal year by tax revenues and other moneys legally available therefor, then the Town is authorized to use any revenues remaining from the Pledged Sales Tax Revenues for other purposes (but only after all of the debt service and Reserve Fund obligation on said general obligation bonds payable from the Pledged Sales Tax Revenues has been fully provided for in said fiscal year), including, but not limited to, payment of special non-general obligation bonds, which special. non--general obligation bonds in any event, shall not be on a parity with and shall be subordinate and inferior to the Bonds, with respect to the Pledged Sales Tax Revenues, -17- ~ !~ ! So long as the Bands remain outstanding and unpaid, the Town shall not repeal its Ordinance No. Il, Series 1973, and the Town shall not amend said Ordinance in a manner which, taking into account other revenue of the Town which is legally dedicated and available to pay the principal and, interest payments on the Bonds, would diminish the revenue security for the Bands. Nothing in this Ordinance Shall be construed in such manner to prevent the issuance by the Town of additional bonds of any nature, provided that said additional bonds are issued in a manner consistent with the provisions and ].imitations stated herein with respect to the Reserve Fund and the Pledged Sales Tax Revenues. Section 13. Budget and Appropriation of Sums. The sums hereinbefore provided to pay the interest on the Bonds and the principal thereof, when due, are hereby appropriated for that purpase, and said amounts for each year shall be included in the annual budget acid the appropriation ordinance or measures to be adapted or passed by the Council in each year, respectively, while any of the Bonds, either as to principal or interest, are- outstanding and unpaid. No provisions of any constitution, charter, statute, ordinance, resolution, or other order or measure enacted after the issuance of the Bonds shall in any manner be construed as limiting or impairing the obligation of the Town to levy ad valorem taxes, without limitation of rate ar amount, or as limiting or impairing the Reserve Fund obligation ar the obligation of the Tawn to levy, administer, enforce arid collect the sales tax as provided herein, for the payment~of the principal of and interest on the Sonds. It shall be the duty of the Council annually at the time and in the manner provided by law for levying other Town taxes, if such action sha11 be necessary to effectuate the provisions of this Ordinance, to ratify and carry out the provisions hereof with reference to the levy and collection of the ad valorem taxes herein specified, and to require the officers of and for the Town to levy, extend and collect said taxes in the manner provided by law for the purpase of providing funds for the payment of the principal of the Bonds and the interest accruing thereon promptly as the same, respectively, become due, Said taxes, when collected, shall be kept for and applied only to the payment of the interest on and principal of the Bonds as hereinbefore specified. Section 14. Arbitrage. The Town covenants with the holders of the Bonds that it will make no use of the proceeds of the Bands at any time during the term thereof which, if such use had been reasonably expected on the date the Bonds are issued, would have caused the Bonds to be arbitrage bonds within the meaning at Section 103 (c} of the Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder by the United States Treasury ~]epartment, unless, under any provision -18- -~ o£ law hereafter enacted, the interest paid on the Sonds (a) shall be excludable from the gross income of a recipient thereof far federal income tax purposes without regard to whether or not such Sonds are arbitrage bonds, or (b) shall be exempt from all federal income taxation. Section 1S. Defeasance. When all of the principal of and interest on the Bonds have been duly paid, all obligations hereunder shall thereby be discharged and the Bonds shall no longer be deemed to be outstanding. 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 of Colorado bills, certificates of indebtedness, notes, bands, or other similar .securities which are direct obligations af, or the principal and interest of which obligations are unconditionally guaranteed by, the i3nited States of America ("Federal Securities") in an amount sufficient (including the known minimum yield available for such purpose from Federal Securities in which such mount may wholly or in part be invested) to pay all principal and interest due on the Bonds at maturity or upon any redemption date or dates as of which the Town shall have exercised or shall have obligated itself to exercise its prior redemption option by a call of the Bonds for payment then. The Federal Securities shall become due prior to the respective times at which the proceeds thereof shall be needed, in accordance with a schedule established and agreed upon between the Tawn 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 owner thereof to assure such availability as sa needed to meet such schedule. Section 15. 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 registered owners from time to time of the Bonds, 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 sole and exclusive benefit of the Town and the registered owners of the Bands. No recourse shall be had for the payment of the principal of and interest on the Bands or for any claim based thereon or otherwise upon this Resolution, or any other instrument pertaining hereto, against any individual member of the Council 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, ar by the enforcement of any penalty or otherwise, all such liabiity, if any, being by the acceptance of the Bonds and as a part of the consideration of their issuance specially waived and released. -19- ~ ~~ ! Section 17. Lost, Destroyed or Wrongfully Taken Bonds. If any outstanding Bonds shall become lost, apparently destroyed, or wrongfully taken, it may be reissued in the form and tenor of the last, destroyed or taken Bond upon the owner furnishing, to the satisfaction of the Council: (a) proof of ownership, (b) proof of loss or destruction, (c) a surety bond in twice the amount of the Bond in question, and (d) payment of the cost of preparing and issuing the new Bond. Section 18. Ratification of Actions. Ail actions heretofore taken by the Town and by the officers of the Town nat inconsistent herewith directed -toward the authorization, issuance and sale of the Bonds are hereby ratified, approved and confirmed. Section 19. 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 Bonds are delivered to the L~urchaser, file with the Colorado Secretary of State their- manual. signatures certified by them under oath. Section 2Q. Authorized Acts. 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 limiting the generality of the foregoing: a. The printing of the Bonds herein authorized, including the printing upon each of such Bonds of a copy of the approving legal opinion of Ballard, Spahr, Andrews & Ingersoll, bond counsel; and b. The execution of such certificates as may be Treasonably required by the Purchaser of the Bonds relating to the signing of the Bonds, the tenure and identity of the Town officials, the outstanding bonded indebtedness and assessed valuation of the Town, if' in accordance with the facts, the absence of litigation, pending or threatened., affecting the validity of the Bonds, the exemption from Federal income taxation of the interest on the Bonds, receipt of the Bond purchase price, and the accuracy and completeness of disclosure of information provided in the Preliminary Official Statement and the Official Statement furnished to prospective buyers of the Bonds; and c. The making of various statements, recitals, certifications and warranties provided in the form of Band set forth in this Ordinance, and ' -~0- ! c~ • d. The preparUtion and execution of a Preliminary and Final Official Statement for the use of prospective purchasers of the Bonds, including, without limitation, the Purchaser and its associates, if any. Section 2l. Repealer of Measures. All ordinances, resolutions, acts, orders, or parts thereof, of the Town and in conflict with this Ordinance are hereby repealed, except that this repealer shall not be construed so as to revive any ordinance, resolution, act, order, or part thereof heretofore repealed, Section 22. Ordinance Irrepealable. This Ordinance is, and shall constitute, a legislative measure of the Taw n, and after the Bands hereby authorized are issued, sold, and are outstanding, this Ordinance shall constitute a contract between the Town and the registered owner or owners of the Bonds, and shall be and remain irrepealable until the Bonds and the interest accruing thereon shall have been fully paid, satisfied and discharged. Section 23. Severability. If any paragraph, clause or provision. of this Ordinance is judicially adjudged invalid or unenforceable, such judgment shall not affect, impair or invalidate the remaining paragraphs, clauses or provisions hereof, the intention being that the various paragraphs, clauses or provisions hereof are severable. Section 24. Recording; Effective Date. This Ordinance, after its final passage, sha~.l be recorded in a book kept for that purpose, shall be authenticated by the signatures of the Mayor and the Town Clerk, shall be published as provided in the Charter of the Town and shall take effect five (5) days after publication following final passage. Section 25. Public Hearing. A public hearing on this Ordinance will ~be held at the Municipal Building in Vaii, Colorado, on Tuesday, the 1st day of May, 1984, at 7:30 o'clock P.M, and notice of such hearing is authorized to be given by publication once in The Vail Trail on April 20. 1984. INTRODUCED, PASSED ON FIRST READING, APPROVED AND ORDERED PUBLISHED ONCE IN FULL THIS 17th day of April, 1984, (TOWN} (SEAL) TEST: ' ~d ~r~ _~ Town Clerk ~~~ TOWN OF VAIL, Mayor cor~oRADo ~~ -21- ~ ~ t PASSED ON SECOND READING, ADPOPTED, ENACTED, APPROVED AND ORDERED PUBLISHED ONCE IN FULL this ~.st day o~ May, 1984. TOWN OF VAIL, COLORADO (TOwN ) (SEAL) TEST; l~~d.~~;~.~~u.~,~ Tawn C1~rk U Mayor r Q ~ --22- 0 Y ~ e~ -~ . n. Council Member ~~,~j seconded the motion, and the question being upon the passage and adoption of the Ordinance as amended from the date of the first reading thereof, the roll was called with the following results: Council Members voting "YES"; Mayor: Council Members; Council Members voting "NO": ,&,ec3~-e y ~ 1 _ f Paul Johnston C~cc.~^1~es R: q nd~ rya K --- Hermann Stouter Gail Wahrlich Colleen Kline Ken t ,R~~oslI--e,, C~ • ~1 members of the Council present Navin of the adoption of Ordinance No. 12, Series of thereupon declared the Ordinance finally passed directed that the Ordinance be published once Vail Trail, a newspaper of general circulation in its issue dated May 4, 1984. g voted in favor 1984, the Mayor and adopted and in full in The within the Town Aftez consideration of other business to come before the council, the meeting was adjourned. Mayor t ~' Town of Vail, Colorado (TOwN) {SEAS.) ATTt;ST : , ~ ,~. Town Clerk Town of Vail, Colorado -23- ~~ t t STATE OF COLORAI30 ) COUNTX OF EAGLE ) ss. TOWN OF VAIL ) I, Parn Brandmeyer, Town Clerk of the Town of Vail, Colorado, do hereby certify that the attached copy of Ordinance No. 12, Series 1984, is a true and correct copy; that said Ordinance, as amended from the date of the first reading thereof, was passed and adopted on second reading by the Tawn Council o£ the Town of Vail, Colorado, at a regular meeting thereof held at the Vail Municipal Building, the regular meeting place thereof, on Tuesday, the 1st day of May, 1984; that true copies of said Ordinance have been duly executed and authenticated by the signatures of the Mayor of the Town and myself as Town Clerk thereof, sealed with the seal of the Town, and numbered and recorded in the official record of the Town kept for that purpose in my office; and that said Ordinance was duly published in full in The Vaii Trail, a newspaper of general circulation_ within the Town, in its issue of May 4, 1984, as evidenced by the certificate of the publisher attached hereto at page 25. I further certify that the foregoing pages 1 through 23, inclusive, constitute a true and correct copy of the record of the proceedings of the Town Council at its regular meeting of May 1, 1984, insofar as said proceedings relate to said Ordinance; that said proceedings were duly had and taken, that the meeting was duly held; and that the persons were present a.t said meeting as therein shown. IN WITNESS WHEREOF, I have hereun~o set my and and the seal of the Town of Vail, Colorado, this ~ day of 1984. +~• ~~~~. Town Clerk (/ (TOWN) Town of Vail, Colorado {SEAL) -24- ~~ ~ Q ~ , ,. ~ •.~ N 3 ~~ ~ :. N ~• ~~ .6q O Q (~ -" Q Cf Q 7 a o f7 ~ ~ O. o ~~ m 3 tD O ~ G ~ ~ 7 Q 4 ~~ ~ Q Q. .` .,`' Q a ~ ~ _"- -~NTam~ m ~ ~ ~ ~p ~ ~ro~V•cv~~`Qp. G n m ~ N tD 4~~0 Oo'-• o' -~~p < coo ~ ~~~~~°~m~,~~' ~ 4 ~ p 7m ~`~ aC} ~ tp ©m~ p l~, Z7 ~ x DC ~„t0[7~ (D N ~ ~ (D ~~~CDN~Q~ ~° --- 7 ~ n ~. t~D n 7 5 d Q O "~ ~ ~~~ fL3~jZJ ~ d fl. ~ 4 QflOw~u,~~.;Q4 C? 7 ~ ~ ~ Q ~ (D ~ Z tD O 'd c~ p~ p N~ G....'~f m O Q. ~ Q. `t ~' C ~ 'Q Q ~ ~ C1. ~ ~^ ~ C ~ O ~, cD, v'' r ~ m ~~~~oa--ate ~ ~ ~_ ~~~ cN~~ ~ ~ ~ ~ ~~~~ NZ.Q m ~ Q ~ ~, N a ~ -* Q. C? -* ~ ~ ~ ~ 3Qp~n~m(p~@ ~' O ~ ~ ~~ w ~ rj~~~fl -~ ° Q ~ ~ ~ 6 £p~~Q~mcD ~ ~O 7 <n 3 ~ N 4 ~ ~ -+ (C] v+ ti ° ~ c~a ~my~3O~~~„`~ ~, " ,~ ~ - _ pp Gt 0- ~ tD -~- ~ {~- ~ i1 tD NU~Qp~O~p~ O fl S ~ c0 7~ SC3D W O~ O~ ~ C ~-pW~Q~Qp-p O ~ ~ d ~~'~ ~f}~~cb t~D G5 ~ = m -G` O ~, Q ~ 4, a ~ ~ ~ O ~. 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HrRawh•t'L Pr4e[ [W.rdsd !O IM lep Iwo finitMrt In the fodawlnp •rla~' - r! ~ trNnn.+ld full tittdl7rlllaompetilioe Ter•Mendq=nd Wtdnnd•y tWf}p:aS RRniM du' the nut fer w«k= utegorros: •. i~•. tr•mpelinr. {OP, 71nYT bMorld= =t rpe N•nr<•r: ',. , rend w.dn..d.y TM merle Eu ' ..- - .. „ . _ `• •`,',•~>~telmtdEM=~rfE terypnrL{~a aline W~iMP•d~iy~t0 pt10 yu d[int~r. AI'mtun SatlWar MV•o5:~.a LMiMdNf lB6 Vndar -. 1.. •M.n 1935-`~..~''LTen J6df?rer' _ ' ~'Ii.US.G.F. rwmpuleory ekitra Abnr rieh mMiatN'ilre.dar.nd'[Lxnd.r 1P36 For tNllt adr. Stoll by for LM bap. : '. Fadba 49-71 ~ ~lAtllas 368 pr[r ~ - aptlend ai6l• in ar Tllefr 12-06 NS, Adv~ .m ~Gieh MenaLy Yltailvn•nt r.Ew in ie••n.• _ prorrteeblMF4.T••ee Two men fr<r mores. willM^ ARMMMlN Ms ra '' '•ry ~"frmnatuwill 7-196, Trnd•Y =n4 Thrlyd= A1036' boon `'' '0' entlar ' •. ~ :1, [1aµ bleb •lN woks en all the nark Adr/Feun-. Bey. MendaY and sn Wedneed.y, M•r isle •nd TRN. Ae •~w • . &rgrNrer ROavTam+r Wua~ -- `f. :"w ~'.lymvit ewnt•. RIN Iramvlllee w.dntLd[r !2764:66 iaS' Add! /Rm., •PNe'a U.ron'willMan lM -~~•..•ti'AOwr'[OMy'OrL.neq rw rwrnwrWmara r«rica .' ':•i", T'wdn~ .. -TwbEmr lLtedar 636796740. eer.aa ^ed etT 0.m."RiehaFamour RACKA6[A: Rtef T-Snip. eM6eayiRN -. ' ~'1F,'-TM FIOT•M rid! +riEl lr wrklar .YrW bethewn.Srep it far i'ee DOpaera RAGRA4E S: rtACe"BaarMl~awx,lw,y cJl,p,[ .••••.£rw ee lewud a alrl en theeompnidae Yem, ~. •~ "~ - {' '. ~'~_ . frf=ke a EiR fa Mom with tM H•nr• 9Lre•al+a Rtl.rrnM.ny ~ . F• ~' Y Bae eAHldv lint widLlM Yem .' S~J tbQrl .,'! bR l7le rwt fA ii.66 FM •uvpllab pAUrA9[G R•Ce7.5Mrt.-fMr[fn[•'R~xiN+Q $no.la •R~ 411-00 ~ ~' ), alrlt dartnr eahebiuana •t1d fprelW Ares Alr m.ieANoarhetul rill for Yanr Molhw ,k, ~",~aioYra Y. don. wneN. b++.1..e.d to da her tpbe'ii.l dar. Tiia NNiea .ill -B"~u.aq.rr•++rn.w .. 1•~;.'~~trroo- -' ,~k prelaem LdN ieviWb iecemter a [tbaiE rmRiree !hie ~T!»H.Nr1o4Mar 16 =t/p.m. 'Dasdflna far Athancv Raar ReQhlnnonh Friday Mall llN• 44 travel, eptttatan, re fart! Nab ••mmtell011r lint meedwr wiq be h.ld .. ~ .. {r~'~!•~•.eeN. and alhee tpaud er•nla. ~TWa.de M r•t 636 Ja. atlhe VeH r-arl'•Ilnt.nnr•1 •Irdmr lrb.....fLt.eer~r+r R.ra,y.l.9rr+f+I.a A.E.,`...,.1 : - -L • '.'r.~i<a 7)e teen .iris r' aY R Olympia!" xrin 4 MW oe FtidL M. ' [['~ •~''!P~FLV1!~~Nnr W[olenfrA In tM Glmeweod Um eplrN ld6 he r.Q ruind bioinFlA9rL tint R.d Sandetoe•CYm tram t3 R-w "" Mrapra will!. Omen {f1[lrldutleMwl wln.y+~e=W Mwva •+: ~:^ '! Y„ 1-' ~. ePrNf• Gpdmltt Ma.t en 8• W1dty, FN taludN ir1a11rae1oe• rrfe book, bat Ed+mr .illy eTtntr .rill b. t+kiar pl•n Raalfrra rl Aaty 171n'f YNI Traa. ... - . ~''Si 71ay4Thm •n trill epenlga ee dLe tint. Reteis and tNla FaK (unher •nd Wyrweh 4-14 yeAn an teriW, ENTATfpau4 AVAILAei£A7KEYNElfY5 RES7AfATANT.TME YAn,~r ~[ ii.•1. 1Nra far liaN aymnubxN•11ir1rbrf] Eeleemeuae, Bltan fl7E-{719kM Hsi ~n~p~a~'~wtly AnetETE.OR ar COn TACTrNpKEHHEp~T~SATML;1.7t[rAlL10N • • iNa . -tNea (IT&26a61, Fat L 77'J/pal•oy ••alh.e pad r441S7r IE[TvAROSI. r ~ ... . .- levtnwene rarteaw•ml .. .. .. ~,;.~. • ~.. • ~ - 'ewr • ` •~ ^ • •. • M=r t4 =t 7:30 p.N, roaBafNd ... , 4a' ' ey. .• '• 't!.aaRaRtarrp~ µ'"aMr,.:.ir.uaLL.~rw YoYi • `1NAIL RUGBY FOUTBALL CLU$ e[RAVA ~°~'"' k ar.n, .k,u.' K[Yrreon R[OTAImAArt . ~~, -; •. ~ widl Ill! H=nre•1 Tee•d,r. M=- Is. THE YIIL ATHLETE mrIDL[TR[F DOIR Cllr AN6 REaO11T n, T~^ ~ : ~ ,... - i98a Sensors sr. ~~. - TSeeR= R•p•r .ill be Iht Rrdiwm =a4 , - N1CN[ arrT dii C YArL SIIA1t ,-..r..' _ ~,i~-. T~..M a. Schedule the aa.t llit 71.60.'rune. sill b=4 ton Lrf:+lr ...- aeAaa - 4`•:f. >.~r:. -.~ .. ;.rv: .,- ,-~ ,'(Home matches Ill CAPS) '::~ ~~ PtN•enll[7it36SrermN. ~"~~ -r~-~_ `r• •1`. „K"' ` •.~ a ~~ ..• :_ / !: h+•1 : h' , ~'l /,i; 1i1ey27••• ••• ~• .. WeatemrrTOUrnament YoulhACliuilies ,,, .I -rENTAYFORrN w,..-~t~o",;o15K' ~ -;FT'~ r.' June9 .Breakenrid a.Wr. T ~ ..._~ ~.4~,•.<'a..r.• ,..~ ~1., •^ June 18 .....••• •. •••• •',• ge Blua GOOSE 'G QTLC ' '+ . •HAA,E• - - -.' wi, "' June 2d ., •,...... • •• • DENVER HICsHLANDERS 7L. Tewe d Yait R•crrden Yaeti t ,.. .. +^ ye •r•..i ==r. ~ 'r .. •a''r• June 30 ........ •.••r••~••••••••• Gentlemen of AaRbn Aedrstlm Gr•atV =il•6t. aaRr. A6ORce - '~""`:~„ _~- :"i Jul 7.......: • . •Stsrmbaal Rugby Club real!, d - w - Ie y..n et+a• rM T~ATT .r.~ _ ZlP • ' „` •"•w ~-•-~+~ .'K - ~ - ,•::~ ...:::.:......DENVER HARLEQUINS wenu b puddwN in scdriaN, pHGlaln - AGE ',' ' ~`..~.`.~"~ -July 1 d........:., r ..... ...DENVER BARBAAEANS Rmrr.m., .nd el•rea Ih=t wiu he}p ... .: .. .aw,w,a--• .. _ ~ ~_ .....•: . •~-~ : °, : ~ '~•. _ . ... .. .. ~.,,...... ~ ,: c.rppa M.o. _ ."~ '~ •^ Jury 20 a 21 ...... • 5kl Tvwn Tournament-park Clttyy UIeR !note ee tie peen.. d q PACKAGE 4 Are. Tshin. B.B.O., Adrnhmrntf " •"~ r;•~' °"''•~.y F"~~ :,?.'; ~ ~JUly29..•. MOUNTAIN MADNESS vi. EASTERN RUGBY d.+'eknmenteFl•1.=ndm..kiBaTb. ,• q .';. ; H.. ..., .rant eertn • .ride tRaetrrm 1 Small O Medium D Largo .O %{arga :6.00 + ' ' FOOTBALL UNION community ellainre, Far prwrTam ' ~I,'',i:` • A4p. 4 . ~"' 'BOULDER AUGBY CLUB .Rprord pn.l.ct Ju.nRe er Rabin .t E7, PACKAGE 8: Rasa "Desetnir' Runni - - ~ ""a`a "'• ~••. . t ' ;-~ Aup. 16 a 19 •.: :.°::..:.: •YAIL SEVENS 70UANAMENT the Yemh Gater =e /76.13rS. -- B.B.O., Rafres ~ ~~' ": ~' Ir.!4=~' Aup. 25 ~ "' ,,;::.. _ GENTLEMEN OF ASPEN ~ hn1°^1e • ~ ••- 314.00 ~• ~ •:'+~ -. ~r~+~!vr :: Boos. 1 a Z :'~..'.}ir•t •:+(.}....~....~VAIL TOURNAMENT. ' Y~caller R..r..b°n Ded rtem~eo~ :...4 Small"`: O Medium ` "q Larpa ,a.~.l Y1uya - ~ - . . ':..~ - - -. ~ Dolyoe Apna, yd Ur iowq eF Vail r p PACKAGE C: Roca T-SMrt.''Ueae.nta Aunts ..M>•~~Y~ ='` ~.:.~~ . tFRes•"' _ _ rip 'eMt! FX+~ Z'!:r4 ' '" .. ... ~ - , ~_ 5horlr, B.S.O.. 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