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HomeMy WebLinkAbout1991-50 Amending the Investment Policy of the Town of Vail~ ORDIN~. :E NO. 5!} ` SERIES '1991 AN ORDINANCE AMENDING THE INVESTMENT POLICY OF THE TOWN OF VAIL; AND SETTING FORTH DETAILS IN REGARD THERETO. WHEREAS, the Town Council wishes to amend Section 3,52.060 of the Investment Policy of the Town of Vail to permit the Town to invest in no load mutual funds that invest in mortgage backed securities issued by the Government National Mortgage Association ("GNMA"}, the Federal National Mortgage Association {"FNMA"}, or the Federa! Home Loan Mor#gage Corporation {"FHLMC"). NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIi_, GOI.ORADO: Section 3.52.060 of the investment Policy of the Town of Vail is hereby amended to read as follows: 3.52.050(f) No load mutual funds that invest in mortgage backed securities issued by the Government National Mortgage Association {"GNMA} or the Federal National Mortgage Association ("FNMA"), or the Federal Home Loan Mortgage Gorporation {"FHLMC"). if any part, section, subsection, sentence, clause or phrase of this ordinance is for any reason held to be invalid, such decision shall not affect the validity of the remaining portions of this ordinance; and the Town Council hereby declares it would have passed this ordinance, and each part, section, subsection, sentence, clause or phrase thereof, regardless of the fact that any one or more parts, SECtlons, subsections, sentences, clauses or phrases be declared invalid. The Town Council hereby finds, determines, and declares that this ordinance is necessary and proper for the heal#h, safety, and welfare of the Town of Vai! and the inhabitants thereof. The repeal or the repeal and reenactment of any provision of the Municipal Code of the Town of Vail as provided in this ordinance shall not affect any right which has accrued, any duty imposed, any violation that occurred prior to the effective date hereof, any prosecution commenced, nor any other action or proceedings as commenced under ar by virtue of the provision repealed or repealed and reenacted. The repeat of any provision hereby shall not revive any provision or any ordinance previously repealed or superseded unless expressly stated herein. 1 All bylaws, orders, resoiut~ons, and ~. ~~hances, or parts thereof, inconsistent herewith are repealed to the extend only of such inconsistency. This repeater shall not be construed to revise any bylaw, order, resolution, or ordinance, or part thereof, theretofore repealed. fNTRODUCED, READ, APPROVED, AND ORDERED PUBLISHED ONCE IN FULL ON F1RST READING this 17th day of December, 1997 , and a public hearing shall be head on this Ordinance on the 7th day of January 1992, at 7:30 p.m. in the Council Chambers of the Vail Municipal Building, Vail, Colorado. ,; ~. Mar4~aret A. Osterfoss, Ma r ATTEST: Pamela A. Brandmeyer; Town Clerk READ AND APPROVED ON SECOND R<=ADING AND t]RDERED PUBLISHED by title on3y this 7th day of January ~ 1992. Margaret A. Osterfass, Mayor ATTEST: Pamela A. Brandmeyer, Town Clerk C:ti6RD.5o z ~ ~ ~ PROOF 4F RUBLICA110N E OE COLORAQO ) )) SS. JtVTY OE EAGLE nrs~.~H xNVx do solemnly swear that f am Ptlbll.sher of TIIC VAIL Tt7i1iL; that the same is a weekly newspaper red, in whole or in part and published in the County of Eagle, State of Colorado, I has a general circulation ihereln: that said newspoper has been published dinuously and uNnterruptridly In said County of Eagle ftor a p~rtod of more than two consecutive weeks next prior to the first publication of the annexed legal ce or advertisement; iha# said n©wspapar has been admitted to the ltnlted es malts as second class manor under the provisions of the Act of March 3, 3879. ny omendmants thereof, and that said newspaper Is a wer3kly newspap©r duly rlified far publishing logol notlcOS and advertisements within the meaning of the s ai the State of Colorado, t the annexocf legal notlc©a advertisement was published in the ragufar and €re issue of ©very number of soled weekly newspaper for the period of %" lsecutlve Insertions; and that the first publ Ication of Bald notice was In the issue of i newspaper dated IY:• ~. ~; ~La ~.-~ ''~' A.Q. 1q ~~ and that the last ~Iicatlon of sold notice was In the issue of said newspaper dated °~ r'. „~;,~. .IV A.Q. 19 .r/ -~ /- t vit~ss whereof t tiaVEl hereunto set my hand this day Ot _,~~„_~. A.Q. 19~~~~ ~scrtbl3d and swan to bra#ae lTiFl, a notary public and f he C my of f=ogle, its of Caiorada, this ~' ~ ~ ~ dory of ~ .` ~ ~ ; ~ - _ - ,~. RQ• 19 =' '! !~ r ~ ; , . r f commission expires /~._-~~~ ~,. _~~ ~ Public Notice OAD[NANCS NO. 50 3edea of lupl AN ORDINANCE AMENDING THE INVEST• MENT pOLIGY OF THE TOWN OF VAIL, AND SETTING F05iTR DETAILS IN REGARD THERETO, WHEREAS. the Town Council wishes to amend Section 3.62.080 of the Envestmenl Policy of rtes Town d VaS to taemdt the Taws to tnvesl in no load mutual funds that Invest 6r modgage bacNed securities issued by the Government Nx-' lional Mortgage Associalion ('GNMA'J, the Federal National Mortgage Aasociatian ('FNMA'}, a the Federd Hama roan Mortpage Carparalion {"FHLMC'}. NOW, THEREFORE, $E IT OflbAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADp THAT: SECTION 1. Section 3.52,060 0l the Ircveslmen! Policy of the Town of Vail is heretry amended to read as follows: 3.52.050iF) No load mutual lands Thal invest in nwrlgaga Oacked necuriliee issued by the Govammenl Na- Banal Mortgage Associalion ('GNMA'J or the Federal National Mortgage Aaeocialean {"FNMA"}, a the Federal Home Loan Mongage Coryoralian ('FHLMC'}. sECTIDN z. it any pan, segian, subsection, sentence, clause or phrase al this ordinance is for any reason held to be invalid, sudr decision shall not ailed the validity o! the rertxiining portions cl Ibis ordinance; and the Town Council hereby declares it would have passed dos ordinance and each pad, section, subsection, aenlenco, clause or phrase Ihaeof, regardless d the fact that any ane or more parts, sections. subsections, sentences, clauses or phrases be dadared invalid. SECTION 3. The Town Gouncil hereby linds, daterminea and declares (teal this ordinance 3s necessary and proper for the health. saleiy end welfare of the Town of Vail and the inhabitanla Ihereol. sECnoN a. Thor repeal or the repeal and reenactment of any provision of the Munbga! Code of the Town of Vail as provided In this ordinance shall not al- feM any ngiii which nas accrued, any duty irrpoaed, any violation that occurred prior to the effective dale hereof, any prosecution aommanced, nor any other actio0 a proceedings as oommenoad under or 4y value o11he provision repeated or repealed and reena[Aed, The repeal of any provision hereby shall not revive any provison ar any ordinance previowly repealed or suporeeded unless expressly staled herein, SECTION 5, RII bylaws, orders, resdulions arrd ordinances or parts tfiered, incon-hlenl herewith era repealed to the eklen! only d each imm~sialency. This repealer shaft ad hs cansWed le revive arty bylaw, order, resolution or ordinanoe, or earl thereof, Iheremrore repealed. INTRODUCED, READ, APPROVED AND OR• DERED PUBLISHED ONCE IN FULL ON FIRST READING (iris 17th day d Recerriser, l991 and e public hearing shall be held on this Ordinance on the 7sh day o1 Sanuary, 1982 at 7:30 p.m. in the Councl Chambers of the Vail Municipal Building, Vail, Cobrado. TOWN OF VAIL Mergers! A Oslodoss Mayor ATTEST: Pamela A. Brandmeyer Town Cbdc I Publisfied in The Vail Trait on December 20, 1991 V Ga, .1f owe" ~~''y .~ ' I y~ 4 ~ ~ ~~T ~'~~ ~~ 4pY - ~i7 t3 ~~° ~~~~p~ ~ a d O- Yr a~i~?~L~~*'ZS ~ ~~~ Q ~ ~ ~ N ri ~i ~' ~ c ~ ~U ~~ ~ ~- ~ c~ ~ occ~c°~~~ ~ ~ ~ c Dais Uo~~'~''._ ~ ~ ~ o• ~+ o ~ `~ c ~ c ~ ~ O ~, ~ ~ ~ ~ '~j ~~~~~ ~~a~ ~ ~ a c ~ ~v v_ o d ,- ~,,r-, ~' G ~'~ ~ ~ Sri ~ ~ 67 ~ ~~~jjj ~ A s O C~ w ~ ~ ~~~~ ~~~ ~~ c ~' N ~~~ r c~ z~ ~~ ~°s ~ • ~ o ~~ cc. , ,o Q 'Q ~ C d ~ ~ ~ UU ~~ ~ v7 O . "~ S) l q ~ ~ {]J ~ ~.. Q` ~~ 2 d v U O y :~. 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