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Home My WebLink About1976-12 Awarding the General Obligation Bonds of the Town, Series September 1, 1976s ,~ ~ j RESOLUTION N0. 12 SERIES OF 1976 A RESOLUTION AWARDING THE GENERAL OBLI- GATION BONDS OF THE TOWN OF VAIL, SERIES SEPTEMBER 1, 1976, DATED SEPTEMBER 1, 1976, IN THE TOTAL PRINCIPAL AMOUNT OF 3aa,oo0, TO THE BEST BIDDER THEREFOR WHEREAS, the Town Council of the Town of Vail, Colorado, has de- termined to offer for sale the General Obligation Bonds of said Town, Series September 1, 1976, dated September 1, 1976, in the principal amount of $300,000, pursuant to the authorization conferred by the electors of the Town at a special municipal election duly called and held on Tuesday, October 14, 1.975, for the purpose of providing a ped- estrian overpass over Interstate Highway 70 between the Potato Patch and LionsHead subdivisions; and WHEREAS, as a means of selling such Bonds at private sale to the best advantage of the Town, pursuant to Section 10.5 of the Charter of the Town of Vail, Colorado, the Town has, by a notice of sale, furnished to a limited number of interested parties, solicited bids for such Bonds; and WHEREAS, all bads which were received by the Town far such Bonds prior to 11:30 o'clock A.M., on Tuesday, August 24, 1976 have been opened and tabulated, and it appears that the bid of Kirchner, Moore & Co. is the best bid for said Bonds, said bid being not less than the par 6.532673 value of said Bonds and having a net effective interest rate of ~. NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO: That $300,000 of General Obligation Bonds, Series September 1, 1976, dated September 1, 1976, heretofore duly offered for sale by the Town of Vail, Colorado, be and the same are, hereby awarded to Kirchner. Moore & Co. , the best bidder therefor, and the bid sub- mitted by Kirchner, Moore & Co.for such Bonds is hereby accepted, in substantial compliance with the terms and conditions of the Town's notice of sale, including the details stated in the bid of said bidder. 3- RESOLUTION Ai~OPTFD AND APPROVED this 24th day of August, 1976. SEAL } ATTEST: TOWN OF VATL, COLORAD Town Clerk 4~ Councilman Heimbach seconded the motion, and the question being upon the passage and adoption of said Resolution, the roll was called with the following result: Those voting "Yes": Councilmen: J~~-A~~-D~4n John Donovan Bz ~. l Heimbach Kathleen Klug Bctb- ~~er Josef Staufer Bill Wilto Those voting "No" : / ~/Ory1 ~J 5 members of the Council present having voted in favor of the passage and adoption of the Resolution, the presiding officer thereupon declared the Resolution duly passed and adopted. Thereupon, after consideration of other business to come before the Council, the meeting was adjourned. yor own of Vail, Colorado TOWN ) SEAL) ATTEST: Town Clerk ~~ ''77 Town of Vail, Colorado a 5-- Councilman Heimbach seconded the motion, and the question being upon the passage and adoption of said Resolution, the roll was called with the following result: Those voting "Yes": Councilmen : J ol~ra- ~.- ~o~-.ten John Donovan BiII Heimbach Kathleen Klug Bob- ~tit~r Josef Staufer Bill Wilto Those voting "No": N~ ~J 5 members of the Council present having voted in favor of the passage and adoption of the Resolution, the presiding officer thereupon declared the Resolution duly passed and adopted. Thereupon, after consideration of other business to come before the Council, the meeting was adjourned. yor own of Vail, Colorado TOWN) SEAL) ATTEST: Town Clerk Town of Vail, C lor~do 5- STATE OF COLORADO ) COUNTY OF EAGLE } ss. TOWN OF VAIL ) I, Rosalie Jeffrey, the Town Clerk of the Town of Vail, Eagle County, Colorado, do hereby certify that the attached copy of Reso- lution No. 12 , Series of 1976, regarding the award of the Town of Vail General Obligation Bonds, Series September 1, 1976, in the prin- cipal amount of $300,000 is a true and correct copy; that said Re- solution was approved and adopted by the Town Council at a special meeting thereof, held at the Town Municipal Building, the regular meeting place of the Town Council in the Town, on Tuesday, tYie 24th day of August, 1976; that a true copy of said Resolution has 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, and numbered and recorded in the official records of the Town kept for that purpose in my office. T further certify that the foregoing pages numbered 1 through 6 , inclusive, constitute a true and correct copy of the record of the proceedings of the Town Council at its special meeting of August 24, 1976, insofar as said proceedings relate to said Resolution; that said proceedings were duly had and taken; that the meeting was duly held; and that the persons were present at said meeting as therein shown. IN WTTNE55 WHEREOF, I have hereunto set my hand and the seal of the Town of Vail, Colorado, this day of ~, 1976. Town C Town of Vail, lorado SEAL ) 7- KIRCHNER, MOORS AND COMPANY i6D0 6ROAdWAY, SUITE 2500 bENVER, t040RADd 80202 303) 29I-1600 OMAHA aFFICE: 7171 MERCY ROAD August 24, 197b Tawas of Vail c/o Office of the Director of Finance 0. Box 100 Vail, Colorado 81657 RE: $300, 000 Town of Vail, Eagle County, Colorado General Obligation Bonds tries September 1, 3976 In full accordance with your Official Notice of Sale, dated ---------------- which by reference is made a part of this bid, far $ 300, 000.00 of legally issued General OUIig~Wtion Bonds, Series September 1, 1976, of the Town of Vail, Eagle County, Colorado wt; will pay $300,000.00 (Par) and accrued interest from date of issue to date of delivery to us, for bonds bearing interest and maturing as follows: Maturity Schedule Arr~ount Maturity Caupan Amount Maturity Coupon 5, 000 4-1-77 R_ nn 15, 040 9-1-87 jZ,,,75 5, 000 9-1-78 8.00 15, 000 9-1-88 6.75 i0, 000 9-1-79 7.25 15; 000 9-1- $g 6.75 10, 000 4-1-80 7.25 2a, OOO g- I-90 6.75 10,040 9-1-81 J.O~15,000 9-1-91 6. b0 10, 000 9-1- 8~7 . oa 20, 000 9-1-g2 6.70 10,000 9-1-83 e;. 7.5 Z5, 000 4-1-93 6.75 10, 000 9- I••84 6, 75 20, 000 9-1-94 6, 75 10,0013 L~-~.-~5 x,75 S,C~(i0 y-1-9s 6.00 15, 004 9-1- 8b b. 75 35, 000 9-1-9b 6.00 Attached hereto is a Cashierls check, payable to "Town of Vail, Colorado" ----___-.. _.. in the amount of $ 10, 000.00 as evidence of our good faith; and if we are the successful purchasers of these bands, said check is to be retained by you and held uncashed and is to apply an the purchase price of said bands at the tulle of delivery. Said check represents full liquidated damages in the event we should fail or neglect to take up and pay for said bonds in accordance with the terms of this proposal. If we are net the successful purchasers, our check is to be returned to us immediately. It is understood and agreed that you will furnish the fully printed bonds, a certified tran- script of proceedings authorizing said bonds and the approving legal opinion of Messrs. DeMuth & Eiberger, Attorneys at Law, Denver, Colorado free of expense. In accordance with the Notice of Sale and/ar customary practice for the delivery of bands, these bands tivill be available for delivery within 45 days or thereafter at our option. For information purposes only, the interest cast ar± this proposal is as follows: Gross Interest Cost $ 255,427.50 Net Interest Cost $ 255,425.50 Net Effective Rate 6.532673 °~ Respectfully submitted, K IR CHNER, MOOR E AND COMPANY William 3'l/White The above proposal ;.a hereby accepted for and on behal fthisc~ ~ day of Z 9~; and receipt of a check i;~ the amount of $10, 000.00 is reby acknowled ATTEST: ~- 3 ~ ; ~ i C E R T I F I E D R E C O R D 0 F PROCEEDINGS OF THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO RELATING TO A RESOLUTION ACCEPTXNG THE BID OF THE BEST BIDDER FOR SAID TOWN'S GENERAL OBLIGATION BONDS, SERIES SEPTEMBER 1, 1976, IN THE AGGREGATE PRINCIPAL AMOUNT OF $300,000, BONDS DATED SEPTEMBER ]. , 1.9 7 6 S ~ • PUBLIC NOTICE NOTICE OF SPECIAL MEETING NOTICE TS HEREBY GIVEN that there will be a Special Meeting of the Town Council of the Town of Vail, Colorado, on Tuesday, August 2~, 1976, at 7:30 P.M. in the Municipal Building of the Town of Vail. This meeting is rescheduled from the regular meeting day of the Tawn Council due to the Vail Symposium. Agenda items include: Ordinance No. l8, second reading, supplemental appropriation; Ordinance No. 19, second reading, zoning amendments; Ordinance No. 20, first reading, supplemental appropriation; Ordinance No. 2l, first reading, Town Code; Ordinance No. 22, first reading, general repealing ordinance; appeal of Design Review Board decision re. campaign banner for Pres. Ford; Conditional Use Permit requests - Racquet Club and The Cornice. TOWN OF VATL Tawn C 1~ r}~ /i - ..~ i r PUBLIC NOTICE SUPPLEMENTAL NOTICE Of Items To Be Considered at SPECIAL MEETING AUGUST 24, 1976 Public Notice is hereby given that in addition to those items stated in the Town's Notice of Special Meeting published an August 20, 1976. The following items will be considered at that Special Meeting: 1. Consideration of a Resolution awarding the Town's $300,000 principal amount of General Obligation Bonds to the best bidder thex~efoa~; 2. Consideration of a Resolution concerning the public sale of special assessment bonds of the Town for the Town of Vail, Calozado, Street improvement District Number 1. TOWN OF VAIL, COLORADO Rosalie Jef ~. ' 6~ Town Clerk Attach Notice of Special Meeting as Supplemented.) I- Z STATE OF COLORADD } COUNTY OF EAGLE ) ss. TOWN OF VAIL ) The Town Council of the Town of~Vai3, Colorado, met in special session at the Vail Municipal Building in said Town an Tuesday, the 24tYi day of August, 1976, at the hour of 7:30 p.m. The following members of the Town Council were present; Mayor : ~.}~;....A.rRn Councilmen: John Donovan Bill Heimbach Kathleen Klug L,,.~ -i~ttC~e-~ Josef Staufer Bill Wilto The following members of the Town Council were absent: John A. Dobson & Bob Ruder The following persons were also present: Terrell J. Minger & Lawrence C. Rider Thereupon, the following proceedings, among others, were had and taken: The Tawn Clerk reported that she had, at the request of the Town Manager, called this special meeting of the Council and that she had at least 24 hours prior to this meeting caused to be served personally upon, or left at the usual place of residence of, each member of the Council, and posted in two public places within the Town, a notice and supplement thereto in substantially the form attached hereto at page l of these minutes. Thereupon, Councilman Donovan introduced and moved the adoption of the following Resolution, which was read in full 2~ ~ RESOLUTION 13, 1976 REPEALED