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1991-42..~. ~ ~ ~ ORDINANCE NO. 42 SERIES OF 1991 AN ORDINANCE AUTHORIZING THE ISSUANCE OF TOWN OF VAIL, COLORADO SALES TAX REVENUE BONDS, SERIES 1991; PROVIDING THE FORM, TERMS AND CONDITIONS OF THE BONDS, THE MANNER AND TERMS OF ISSUANCE, THE MANNER OF EXECUTION, THE METHOD OF PAYMENT AND THE SECURITY THEREFOR; PLEDGING A PORTION OF THE SALES TAX PROCEEDS OF THE TOWN AND THE NET REVENUES DERIVED FROM THE PARKING FACILITY FOR THE PAYMENT OF SAID BONDS; PROVIDING CERTAIN COVENANTS AND OTHER DETAILS AND MAKING OTHER PROVISIONS CONCERNING THE BONDS AND THE DESIGNATED SALES TAX REVENUES AND NET REVENUES; RATIFYING ACTION PREVIOUSLY TAKEN AND APPERTAINING THERETO; AND REPEALING ALL ORDINANCES IN CONFLICT HEREWITH. NOW, THEREFORE, BE IT ORDAINED BY THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO: Section 1. Definitions. Terms used in this Ordinance shall have the meanings specified in this section for all purposes of this Ordinance and of any ordinance amendatory hereof or supplemental hereto, or relating hereto, and of any instrument or document appertaining I~c;reta, except where the context by clear implication herein otherwise requires. All definitions include the singular and plural and include all genders. Certain terms are parenthetically defined elsewhere herein. "Additional Boncls" means the one or more series of bands or other securities or obligations authorized to be issued by the Town, pursuant to Section 17 hereof and having a Iicn on the Pledged Revenues on a parity with the lien of the 1991 Bonds. "Bond Find" means the fund by that name created by the 1989 Ordinance. "Bond Insurer" means Municipal Bond Investors Assurance Corporatian. "Bond Insurance Policv" means the municipal bond insurance policy issued by the Bond Insurer guaranteeing the payment of principal and interest on the 1991 Bonds. _1_ ~; ~ ~ • s "Band Reserve Insurance Policv" means any insurance policy, surety band, irrevacablc letter of credit ar similar instrument deposited in or credited to the Reserve Fund in lieu of or in partial substitution for moneys att deposit therein. The issuer providing any such Bond Reserve Insurance Policy shall be an issuer which has been then currently assigned an AAA rating or a comparable rating by Moody's Investors Service, inc., Standard & Ponr's Corporation or their successors. "Bonds" means the 1989 Bonds, 1991 Bonds and any Outstanding Additional Bonds. "Business Dav" means a day on which banks located in the cities in which the principal offices of each of the Paying Agent and the Bond Insurer are not required or authorized to be closed and an which the New York Stack Exchange is not closed. "Charter" means the Home Rule Charter of the Tawn, including all amendments thereto prior to the date hereof. "Commercial Bank" means any depository for public funds permitted by the laws of the State far political subdivisions of the State which has a capital and surplus of $10,044,(H>n or mare, and which is located within the United States. "Construction Fund" means the fund created by Section 13 hereof. "Fiscal Year" means the twelve 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 nr such other twelve month period as may from time to time be designated by the Town Council as the Fiscal Year of the Town. "General OneratinE Expenses" means aI1 reasonable current expenses, paid or accrued, of operating, maintaining and repairing the Parking Facilities. The term includes, without limitation, lcga! and incidental expenses of the various administrative departments of the Town directly or indirectly related and reasonable allocable to the administration of the Parking Facilities, insurance premiums, the reasonable charges of any paying agent, trustee or depositary bank, contractual services, professional services required by this Ordinance, salaries and administrative expenses, labor, and the costs incurred by the Town in the collection of Gross Revenues. The term does oat include any allowance for depreciation, any -2- +~ ~ ~ ~ • costs of reconstruction, improvement, extension or betterment, any accumulation of reserves far capital replacements, any reserves for aperation, maintenance nr repair of the Parking Facilities, any allowance for the redemption of any bond or other security evidencing a loan or the payment of any interest thereon, and any legal liability not based on contract. "Governmental Gbli~ations" means any of the following which are noncallable and which at the time of investment are legal investments under the laws of the State for the moneys proposed to be invested therein: (a) Direct general obligations of, or obligations the payment of principal of and interest on which are unconditionally guaranteed by, the United States of America; (b) Bonds, debentures, Hates or other evidences of indebtedness issued nr guaranteed by any of the fallowing: Export-Import Bank of the United States; Federal Financing Bank; or (c) Evidences of ownership interests in obligations described in paragraph (a) or (b} above. "Gross Revenues" means all income and revenues derived directly or indirectly from the operation of or otherwise relating to the Parking Facilities, including, without limitation, any fee, rate or other charge assessed against any persons for the privilege of using or otherwise relating to the Parking Facilities. "income Fund°' means the special fund by that name created by the 1989 Ordinance. -3- ~- i • • "Insurance Paving Agent" means Citibank, N.A., or its successors under the Policy. "Maximum Annual Dent Service Requirement°' means the maximum amount of all required payments of principal and interest an the Bonds which will hecome due in any Fiscal Year. Far the purpose of Section 17 hereof only, Maximum Annual Debt Service Requirement shall also include the principal and interest on the 1985 Bonds until the 1985 Bonds are paid or defeased. "Net Revenues" means the Gross Revenues less General Operating Expenses. "19$5 Bonds" means the Town's outstanding General Obligation Refunding Bonds, 19$5, dated as of November 15, 1985. "1985 Ordinance" means Ordinance No. 23, Series of 1985, as amended by Ordinance Ncs. 29, Series of 19$5. "19ti9 Bands" means the Town's Sales Tax Revenue Bonds, Series 1989. "1.989 Band Ordinance" means Ordinance No. 29, Series of 19$9. "1991 Bonds" means the Town's Sales Tax' Revenue Bands, Series 1991. "Ordinance" means this Ordinance of the Town, which provides for the issuance and delivery of the 1991 Bands. "Outstandin:j' means, as of any date of calculation, all Bonds theretofore executed, issued and delivered by the Tawn except: (1) Ba~~ds theretofore cancelled by the Town, Registrar or Paying Agent, or surrendered to the Town, Registrar or Paying Agent for cancellation; (2} Bonds in lieu of or in substitution for which other Bands shall have been executed, issued and delivered by the Town and authenticated by the Registrar unless proof satisfactory to the Registrar is presented that any such Bonds are duly held by the lawful registered owners thereof; or (3) Bonds deemed to have been paid as provided in Section 20 hereof. "dwner" ar "registered owner" shall mean ,the registered owner of any 1991 Bond as shown on the registration 'books kepk by the Registrar. -4- ~~ ~ ~ ~ • "Parkine Facilities" means all existing parking facilities, including, but not limited to, all parking facilities constructed, otherwise acquired and equipped with the proceeds of the 1989 Bands, and all future parking facilities operated by the Town, which facilities include all improvements, extensions, enlargements, additions or betterments to, or replacements of. "Paving Aeent" means Central Bank National Association, Denver, Colorado, being the agent far the Town for the payment of the 1991 Bands and interest thereon, or its successors and assigns. "Permitted investment" means any investment shown on the list attached hereto as Exhibit T to the extent permitted by the Charter and Ordinances of the Town. "Person" means 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. "P1ed~ed Revenues" means: (i) the revenues derived from the Pledged Sales Tax; (ii) any additional taxes (other than a general ad valorem tax}, funds or revenues which the Town hereafter pledges to the payment of Bonds; (iii) the Net Revenues; (iv) proceeds of the Bonds or other legally available moneys deposited into and held in the Bond Fund and the Reserve Fund; and (v} interest or investment income on the Income Fund, the Bond Fund and the Reserve Fund; all to the extent that such moneys are at any time required by Section 14 hereof to be deposited into and held in the Income Fund, and the Bond Fund and the .Reserve Fund. "Pledged Safes Tax" means that ane-half of the proceeds of the Sales Tax which is also pledged to the payment of the 1985 Bonds and the 1989 Bonds. "Pledged Sales Tax" sloes not include. incremental sales taxes which are or may be pledged to the payment of the bonds pursuant to an urban renewal plan as defined in 31-25-103(a), C.R.S or a plan of development as defined in 31-25-802 (b.4} C.R.S. "Pledged Sales Tax" does not include amounts withheld by retailers and vendors to cover their expenses in collecting and remitting -5- .~ , the Pledged Sales Tax, and Pledged Sales Tax does not include amounts collected by the Town and subsequently determined, pursuant to the applicable Sales Tax Ordinances, to be subject to valid claims for refunds. "Pledged Sales Tax" does not include the proceeds of any increase in the Sales Tax which may be approved in the future, unless such increase is expressly pledged by the Town. "Pledged Sales Tax" does include ane-half of the proceeds clcrived 6y the Town from any legally available tax or taxes or fees {other than a general ad valorem tax} which replace or supersede the Pledged Sales Tax, regardless of whether such tax or taxes tar fees are imposed by the Town ar the State or other political subdivision thereof. "Policy" means the Financial Guaranty Insurance Policy provided by the Bond Insurer with respect to the Bonds. "Preliminary Official Statement° means the Preliminary Official Statement dated N«vemher 7, 1991. "Proieet" means any public improvement or equipment which the Town is legally authorized to acquire, construct or finance. "Purchase Contract" moans the Purchase Contract between the Town and the Purchaser dated November 19, 1991. "Purchaser" means George K. Baum & Company, Kirchner IVl'oore Division. "Rebate Fund" means the fund by that name created by the 19$9 Ordinance. "Registrar" means Central Bank National Association, Denver, Colorado, being the agent for the Town far the registration, transfer and exchange of the 1991 Bands, nr its SuCCCSSarS. "Registrar Agreement" means the Registrar Agreement between the Town and the Registrar dated as of November 1, 1991. "Regular Record Date" means the fifteenth day of the calendar month next preceding each interest payment date for the 1991 Bonds (other than a special interest payment date hereafter fixed for the payment of defaulted interest}. "Reserve Fund" means the fund by that name created by the 19$9 Ordinance. _h_ «-+" +' "Reserve Fund Requirement" means an amount equal to 10% of the principal amount of the Outstanding Bonds plus an amount equal to all investment earnings on the Reserve Fund; provided that the Reserve Fund Requirement shall not exceed the Maximum Annual Debt, Scn+ice Requirement. "Sales Tax" means the tax upon the sale and use of goods and services which is currently. being levied by the Tnwn pursuant to the Sales Tax Ordinances and any future or amended ttix levied by the Tnwn as a sales and use tax. "Sales Tax Ordinances" means the ordinances adopted by the Town Council of the Town for the purpose of adopting and enforcing the Sales Tax and which are in effect nn the date of this Ordinance and as later amended or supplemented. "Special Record Data" means a special date fixed to determine the names and addresses of registered owners for purposes of paying interest an a special interest payment date for the payment of defaulted interest, all as further provided in Section 6 hereof. "State" means the State of Colorado. "Tax Code" means the Internal Revenue Cnde of 1986, as amended. "Tczwn" means the Tawn of Vail, Colorado. "Town Council" means the Town Council of the Town or any successor in functions thereto. "Trust Bank" means a Commercial Bank which is authorized to exercise and r IS exercising trust powers. Section 2. Recitals. A. The Tawn is a municipal corporation duly organized and existing under the Town's Charter adapted pursuant to Article XX of the Constitution of the State of Colorado. R. Section 1[l.b of the Charter permits the Town to issue securities made payable solely out ~f the proceeds of any sales taxes, or from any portion thereof, or~solely from net revenues derived from the operation of ~ an .income-producing project or any combination, c7f sales taxes and net revenues without an election. -7- ~~ ,~ ~ i i G The Town imposes a Sales Tax pursuant to Section 11.1 of the Charter and the Sales Tax Ordinances. D. The Town has pledged one-half of the revenues from the Sales Tax to the payment of the 1985 Bonds and, on a subordinate basis, to the 1989 Bonds. E. Pursuant to the 1985 Ordinance, the Town issued the 1985 Bonds and agreed to' pledge and set aside the PIedged Sales Talc to pay the principal of and interest on the 19$5 Boncls, provided that the Pledged Sales Tax could also be pledged and used for the payment of the principal of and interest on other additional general obligation bonds of the Tawn which may be issued thereafter on a parity with or subordinate to the 1985 Bonds with respect to the Pledged Sales Tax. The 1985 Ordinance also provided that, to the extent that the principal of and interest on the 1985 Bands and any additional parity general obligation bonds are fully provided for in any Fiscal Year by tax revenues and other moneys legally available therefore, the Town is authorized to use such excess Pledged Sales, Tax for other pifrposeS, including, but not limited to, payment of special non-general obligation bonds of the Tc3wn which may not he issued on a parity with the 1985 Bonds, but only may be issued in a subordinate and inferior position to the claim of the 1985 Bonds to the Pledged Sales Tax. F. Except for the 1985 Bonds, the 1989 Bonds, and bonds or obligations which have been ,paid or defeased as of the date of issuance of the 1991 Bonds,. the Town has never pledged the Pledged Sales Tax to the payment of any bonds or far any purpose with the result that the Pledged Sales Tax may now be pledged (with a lion which is subordinate to the lien for the 19$8 Bonds but on a parity with the 1989 Bonds) lawfully and irrevocably far the payment of the 1991 Bonds. G. Except for the 1989 Bonds, the Town has never pledged the Net Revenues derived from the Parking Facilities with the result that the Net Revenues may now be pledged (with a lien which is on a parity with the lien of the 1989 Bonds) lawfully and irrevocably for the payment of the 1991 Bonds. H. The Town has received a propasat from the Purchaser for the purchase of the 1991 Bonds far the purpose of defraying in whole or in part the costs of the Project. -8- 1 • i I. There have been presented to the Council the proposed forms of the following documents: the Purchase Contract; the Registrar Agreement; and the Preliminary Official Statement. J. The Tawn Council is desirous of causing the 1991 Bonds to he issued, of authorizing and directing the application of the proceeds thereof as set forth herein, and of providing security for the payment thereof, alI in the manner hereinafter set forth. Section 3. Ratification. All actions heretofore taken (eat inconsistent with the provisions of this Ordinance} by the Tnwn Council and other officers of the Town in the imposition and collection of the Sales Tax or the Gross Revenues, in providing the Project, and in selling and. issuing the 1991 Bands for these purposes are, ratified, approved and confirmed. Section 4. Authorization of Project. The Project is hereby authorized at a cost of not exceeding, $2,555,000 (excluding casts to be paid from sources other than the original proceeds of the 1991 Bonds). . Section 5. Authorization of the 1991 Bonds, There are hereby authorized to he issued fully registered sales tax revenue securities of the Town, to be designated "Town of Vail, Colorado, Sales Tax Revenue Bands, Series 1991" in the aggregate principal amounts of $2,555,000, to be payable and collectible, both as to principal and interest, from the Pledged Revenues. Section 6. 1991. Bond Details. The 1991 Bands shall be issued in fully registerccl form {i.e., registered as to both principal and interest), shall be dated as of November 1, 1991, shall be issued in the denomination of $5,000 or any integral multiple thereof (provided that no 1991 Bond may be in a denomination which exceeds the principal carving due an any maturity date, and no individual 1991 Band will be issued far mare than one maturity) and shall be numbered in such manner as the Registrar may determine. The 1991 Bonds shalt bear interest from their dated date until maturity at the rates per annum shown below, payable semiannually an June 1 and December 1 in each year, commencing on .fungi 1, 1992, except that any 1991 Band which is reissued upon transfer, exchange or other replacement shall bear interest from the mast recent interest payment date to which interest _g_ '~ has been paid or duly provided for, ar if na interest has been paid, From the date of the 1991 Bands, The 1991 Bands shall mature on December 1 in each of the years and amounts hereinafter designated, as follows: Interest Maturity Principal Rate Date ,Amount (Per Annuml 1992 , $ - 60,000 ~ 4.50% 1993 75,000 4.70% 1994 $0,000 ~ 4.90% 1995 85,000 5.10% 1996 85,000 5.30% 1997 90,000 5.50% 1998 95,000 5.70% 1999 100,000 5.80% 2000 110,000 5.90% 2001 115,000 6.00% - 2002 120,000 6.10% 2004 270,004 6.30% 2006 300,000 6.50% 2011 970,000 6.50% The principal of any 1991 Band shall be payable to the registered owner thereof as shown on the registration records kept by the Registrar, upon maturity thereof and upon presentation and surrender at the Paying Agent. If any 1991 Bnnd shall not be paid upon such presentation and surrender at or after maturity, it shall continue to draw interest at the same interest rate borne by said 1991 Bond unfit the principal thereof is paid in full. Payment of interest on any 1991 Bond shall be made by check or draft mailed by the Paying Agent, an or before each interest payment date (or, if such interest payment date is not a business day, on or before the next succeeding business day}, to the registered owner thereof at the address shown on the registration records kept by the Registrar at the close of business on the Regular Record Date for such interest payment date; but any such interest not so timely paid or duly provided for shall cease to be payable to the person who is the registered owner thereof at the close of business on the Regular Record Date and shall be payable to the person who is the registered owner thereof at the close of business an a -10- ~~ ~ ~ • Special Record Date fnr the payment of any such defaulted interest. Such Special Retard Date shall be fixed by the Registrar whenever moneys become available for payment of the defaulted interest, and notice of the Special Record Date shall be given to the registered owners of the 1991 Bands net less than ten days prior to the Special Retard Date by first- class mail to each such registered owner as shown an the Registrar's registration records an a date selected by the Registrar, stating the date of the Special Record Date and the date fixed far the payment of such defaulted interest. The Paying Agent may make payments of interest an any 1991 Bond by such alternative means as may be mutually agreed to between the owner of such 1991 Bond and the Paying Agent (provided, however, that the Town shall not be requirod to make funds available to the Paying Agent prior to the interest payment dates stated.in this Section). All such payments shall be made in lawful money of the United State's of America without deduction for the services of the Paying Agent 'or Registrar. Section 7. Prior Redemntian. A. 1991 Bonds maturing on or before December i, 2001, are not subject to prior redemption. 1991 Bands maturing on and after December 1, 2002, shall be subject to prior redemption, at the option of the Town, in whale, ar in part, in integral multiples of $5,000, from such maturities as are selected by the Town, and if less than all of the Bonds of a maturity are to be redeemed, by lot within a maturity in such manner as the Registrar may determine, on December 1, 200]., or on any date thereafter, at a redemption price equal tc> 100°~o of the principal amount so redeemed plus accrued interest to the redemption date. B. 1991 Bonds maturing on December i, 2004 are subject to mandatory sinking Bind redemption at a price equal to the principal amount thereof plus accrued interest to the redemption date. Such 1991 Bonds subject to mandatory sinking fund redemption shall be selected by let in such manner as the Registrar shat! determine (giving prapartionate weight to the 1991 Bands maturing an December 1, 2004 in denominations larger than $5,000). As and far a sinking fund far the redemption of the 1991 Bonds maturing an December 1, 2004, the Town will deposit in the Band Fund an or before December 1, 20(13, a sum together with other moneys available in the Band Fund is sufficient to redeem (after -11- ~ ~ ~ credit as provided below) the following principal amounts of the 1991 Bonds maturing on December 1, 2004: Principal Year Amount 2003 $130,000 The remaining $140,(}{}{} of the 1991 Bonds maturing on December 1, 2004 shall be paid upon presentation and surrender at maturity unless redeemed pursuant to optional redemption prior to maturity. On or before the thirtieth day prior to each such sinking fund payment date, the Registrar shall proceed to call the 1991 Bonds indicated above (or any 1991 Bond or Bonds issued to replace such 1991 Bonds) for redemption from such sinking fund on the next December 1, and give notice of such call without further instruction or notice from the Town. 1991 Bonds maturing on December 1, 2006 are subject to mandatory sinking fund redemption at a price equal to the principal amount thereof plus accrued interest to the redemption date. Such 1991 Bands subject to mandatory sinking fund redemption shall be selected by lot in such manner as the Registrar shall determine (giving proportionate weight to the 199]. Bonds maturing on December 1, 2006 in denominations larger than $5,000). As and for a sinking fund for the redemption of the 1991 Bonds maturing on December 1, 2006, the Town will deposit in the Bond Fund on ar before December 1, 2005, a sum. together with .other moneys available in the Bond Fund is sufficient to redeem {after credit as provided below) the following principal amaunts of the 1991 Bonds maturing on December 1, 2006: Principal Year Amount 2005 $145,000 The remaining $155,0(}0 of the 1991 Bonds maturing on December 1, 2006 shall be paid upon presentation and surrender at maturity unless redeemed pursuant to optional redemption prior to maturity. on or before the thirtieth day prior to each such sinking fund payment date, the Registrar shall proceed to call the 1991 Bonds indicated above (or any 1991 Bond or -12- .. ~ ~ ~ Bonds issued to replace such 1991 Bonds) for redemption from such sinking fund on the next December 1, and give notice of such call without further instruction or notice from the Town. 1991 Bonds maturing on December 1, 2011 are subject to mandatory sinking fund redemption at a price equal to the principal amount thereof plus accrued interest to the redemption date. 1991 Bonds subject to mandatary sinking fund redemption shall be selected by Iot in such• manner as the Registrar shall determine (giving proportionate weight to the 1991 Bands in dcnaminatians larger than $5,000). As and for a sinking fund far the redemption of the 1991 Bands maturing on December 1, 2011, the Town will deposit in the Band Fund on nr before December 1, 2007, and on or before each December 1 thereafter through December 1, 2010, a sum together with other moneys available in the Bond Fund is sufficient to redeem {after credit as provided below) the following principal amounts of the 1991 Bonds maturing on December 1, 2011: Principal Year Amount 2007 $170,000 2008 180,000 2009 190,000 2010 205,000 The remaining $225,000 of the 1991 Bonds maturing on December 1, 2011 shall be paid upon presentation and surrender at maturity unless redeemed pursuant to optional redemption prior to maturity. Qn or before the thirtieth day prior to each such sinking fund payment date, the Registrar shall• proceed to tail the 1991 Bonds indicated above {or any 1991 Bond or Bonds issued to replace such 1991 Bands) for redemption from such sinking fund on the next December 1, and give notice of such call without further instruction or notice from the Town. Al its option, to be exercised on or before the sixtieth day next preceding any sinking fund redemption date, the Town may (a) deliver to the Registrar for cancellation 1991 Bonds subject to mandatary sinking fund redemption an such date in an aggregate principal amount, desired or {b) receive a credit in respect of its sinking fund redemption obligation for any' 1991 Bonds subject to mandatary sinking fund redemption an such date, which prior to -13- x~ ~~ ~ ~ • said date have been redeemed {other wise than through the operation of the sinking fund} and cancelled by the Registrar and not theretofore applied as a credit against any sinking fund redemption obligation. Each 1991 Bond so delivered or previously redeemed will be credited by the Registrar at the principal amount thereof on the obligation of the Town on such sinking fund redemption date and the principal amount of 1991 Bands to be redeemed by operation of such sinking fursd on such date will be accordingly reduced. The Tawn will on or before the sixtieth day next preceding each sinking fund redemption date furnish the Registrar with its certificate indicating whether or not and to what extent the provisions of (a) and (b} of the preceding sentence are to be availed with respect to such sinking fund payment. Failure of the Town to deliver such certificate shall not affect the Registrar's duty to give notice of sinking fund redemption as provided in this paragraph B. C. In the case of 1.991 fonds of a denomination larger than $5,000, a portion of such 1991 Bond ($5,000 or any integral multiple thereof} may be redeemed, in which case the; Registrar shall, without charge to the owner of such 1991 Bonci, authenticate and issue a replacement 1.991 Bond or Bonds for the unredeemed portion thereof. D. Except as provided in paragraph B of this Section, the Director of Finance of the Town shall give written instructions concerning any prior redemption to the Registrar at least sixty days prior to such redemption date. Notice of redemption shall be given by the; Registrar in the name of the Town, by sending a copy of such notice . by certilieci, first-class postage prepaid mail, not more than sixty nor loss than thirty days print to the redemption date, to the Purchaser, and to each registered owner of 'any 1991 Bond, all or a portion of which is called for prior redemption, at his address as it last appears on the registration records kept by the Registrar. Failure to give such notice by mailing to the registered owner of any 1991 Bond or to the Purchaser of any defect therein, shall not affect the validity of the proceedings for the redemption of. any other 1991 Bonds. Such notice shall identify the 1991 Bonds or portions thereof to be redeemed (if less than all are to be redeemed) and the date faced for redemption, and shall further state thak on such redemption date the principal amount thereof and the designated premium thereon, if any, will become due and payable at the Paying Agent, and that Pram and after _1 ~_ ,~ ,, such date interest will cease to accrue. Accrued interest to the redem.ptian date will be paid by check or draft mailed to the registered owner {or by alternative means if sa agreed to by the Paying Agent and the registered owner). Notice having been given in the manner hereinabove provided, the 1991 Bond or Bonds so called for redemption shall become due and payable on the redemption date so designated; and upon presentation and surrender thereof at the Paying Agent, the Town will pay the principal of and premium on, if any, 1991 Bancl or Bands so called for redemption. Section F3. Special Oblieations. All of the 1991 Bonds, together with the interest accruing thereon, shall be payable and collectible solely out of the Pledged Revenues, which are hereby irrevocably so pledged; the owner ar owners thereof may not look to any general ar other fund for the payment of principal and interest on the 1991 Bonds, except the designated special funds pledged therefor; and the 1991 Bonds shall not constitute an indebtedness nor a debt within the meaning of any applicable charter, constitutional ar statutory provision or limitation; nor shall they be considered ar held to be general obligations of the Tnwn; and each of the 1991 Bonds herein authorized to be issued shall recite on its face; that it is payable and collectible solely from the Pledged Revenues, and that the owners thereof may not look to any general or other fund for the payment of the principal and interest on the; 1991 Bonds. 5cction 9. NeEOtiability. Subject to the registration provisions hereof, the 1991 Bonds shall be fully negotiable and shall have all the qualities of negotiable paper, and the owner or owners thereof shall possess all rights enjoyed by the holders or owners of negotiable instruments under the provisions of the Uniform Commercial. Code-Investments Securities. The princ;ipai of and interest on the 1991 Bonds shall be paid, and the 1991 Bonds shall be transferable, free from and without regard to any equities between the Town and the nriginal or <<ny intermediate owner of any 1991 Bonds or any setoffs or crossclaims. Section 1f1. Execution. The 1.991 Bonds shall be executed in the name and on behalf of the Town by the signature of the Mayor, shall be sealed with a manual or facsimile: impression of the seal of the Town and attested by the signature of the Town Clerk. Each 1991 Bond shall be authenticated by the manual signature of an authorized officer or -15- .. . ~ • • i employee of the Registrar as hereinafter provided. The signatures of the Mayor and the Town Clerk 7nay be by manual or facsimile signature. The 1991 Bands bearing the manual or facsimile signatures of the officers in office at the time of the authorization thereof shall be the valid and binding obligations of the Town (subject to the requirement of authentication by the Registrar as hereinafter provided), notwithstanding that before the delivery thereof and payment therefor or before the issuance of the 1991 Bands upon transfer ar exchange, any or ail of the persons whose manual or facsimile signatures appear thereon shall have ceased to fill their respective offices. The Mayor and the Town Clerk shall, by the execution of a signature certificate pertaining to the 1991 Bonds, adopt as and for their respective signatures any facsimiles thereof appearing on the 1991 Bonds. At the time of the execution of the signature certificate, the Mayor and the Town Clerk may each adopt as and for his or her facsimile signature the facsimile signature of his or her predecessor in office in the event that such facsimile signature appears upon any of the 1991 Bonds. No 1991 Bond shall be valid or obligatory for any purpose unless the certificate of authentication, substantially in the farm hereinafter provided, has been duly manually executed by the Registrar. The Registrar's certificate of authentication shall be deemed to have been duly executed by the Registrar if manually signed by an authorized officer or employee of the Registrar, but it shall not be necessary that the same officer or employee sign the certificate of authentication on all of the 1991 Bonds issued hereunder. By authenticating any of the 1991 Bonds initially delivered pursuant to this Ordinance, the Registrar shall be deemed to have assented to the provisions of this Ordinance. Section 11. Registration. Transfer and Exchange. A. Records for the registration and transfer of the 1991 Bonds shall be kept by the Registrar, which is hereby appointed by the Town as registrar (i.e., transfer agent) for the 1991 Bands. Upon the surrender for transfer of any 1991 Bond at the Registrar, duly endnrsecl far transfer ar accompanied by an assignment duly executed by the registered owner or his attorney duly authorized in writing, the Registrar shall enter such transfer on the registration records and shall authenticate and deliver in the name of the transferee or transferees a new 1991 Bond or Bonds of the same series, of a like aggregate principal -16- ., ., amount and of the same maturity, bearing a number or numbers not previously assigned. 1991 Bands may be exchanged at the Registrar far an equal aggregate principal amount of 1991- Bonds of the series and the same maturity of other authorized denominations. The Registrar shall authenticate and deliver a 1991 Band or Bonds which the registered owner making the exchange is entitled to receive, bearing a number ar .numbers not previously assigned: The Registrar may impose reasonable charges in connection with such exchanges and transfers of 1991 Bands, which charges (as well as any tax or other governmental charge required to he paid with respect to such exchange or transfer) shall be paid by the registered owner requesting such exchange or transfer. B. The Registrar shall not be required to transfer or exchange {1) any 1991 Bond ar portion thereof during a period beginning at the opening of business fifteen days before the day of the mailing of notice of prior redemption as herein provided and ending at the close of business on the day of such mailing, or (2J any 1991 Bond ar portion thereof after ,the mailing of notice calling such 1991 Bond or any pnrtion thereof far prior redemption, except for the unredeemed portion of the 1991 Bonds being redeemed in part. C. The person in whose name any 1991 Bond shall be registered on the registration records kept by the Registrar shall be deemed and regarded as the absolute owner thereof for the purpose of making payment thereof and for all other purposes; except as may be otherwise provided in Section 6 hereof with respect to payment of interest; and, suhject to such exception, payment of or on account of either principal ar interest. an any 1991 Bond shall be made only to or upon the written order of the registered owner thereof or his legal representative, but such registration may be changed upon transfer of such 1991 Band in the manner and subject to the conditions and limitations provided herein. All such payments shall be valid and effectual to discharge the liability upon such 1991 Band to the extent of the sum or sums so paid, D. 1f any 1991 Bond shall be lost, stolen, destroyed or mutilated, the Registrar shall, upon receipt of such evidence, information or indemnity relating thereto as it and the Tawn may reasonably require, authenticate and deliver a replacement 1941 Bond or Bonds of a like aggregate principal amount and of the same maturity, bearing a number -17- -t .~ • • i ar numbers not previously assigned. If such lost, stolen, destroyed or mutilated 1991 Bond shall have matured or is about to become due and payable, the Registrar may direct the Paying Agent to pay such 1991 Bond in lieu of replacement, E. The officers of the Town are authorized to deliver to the Registrar fully executed but unauthenticated 1991 Bonds in such quantities as may be convenient to be held in custody by ~ the Registrar pending use as herein provided. F. Whenever any 1991 Bond shall be surrendered to the Paying Agent upon payment thereof, or to the Registrar For transfer, exchange or replacement as provided herein, such 1991 Band shall be promptly cancelled by the Paying Agent ar Registrar, and counterparts of a certificate of such cancellation shall be furnished by the Paying Agent or Registrar to the Town. Section 12. Form of 1991 Bonds, Leal Opinion, Certificate and ReEistration Panel. The 1991 Bonds, the registration panel and the legal opinion certificate to appear an the 1991 Bonds shall be substantially as follows {provided that any portion of the 1991 Band text may, with appropriate references, be printed on the back of the 1991 Bonds), with. such omissions, insertions, endorsements, and variations as to any recitals of fact or other provisions as may be required by the circumstances, be required or permitted by this Ordinance, or be consistent with this Ordinance and necessary ar appropriate to conform to the rules and requirements of any governmental authority or any usage or requirement of law with respect thereto: . -18- i • i (Form of Band) STATE OF COLORADO NO. R- INTEREST RATE ~% REGISTERED OWNER: PRINCIPAL AMOUNT: UNITED STATES OF AMERICA TOWN OF VAIL., COLORADO SALES TAX REVENUE BOND SERIES 1991 COUN'T'Y OF EAGLE MATURITY DATE DATED AS OF CUSII' DECEMBER 1, . NOVEMBER 1, 1991 The Town of Vail, in the County of Eagle and State of Colorado (the "Town"), for valuc received, promises to pay to the registered owner specified above, ar registered assigns, solely from the special funds provided therefor, the principal amount specified above, on the maturity date specified above (unless called for earlier redemption), and to pay from said sources 'interest khereon on June 1 and December 1 of each year, commencing on Ji.inc 1, 1992, at the interest rate per annum specified above, until the principal sum is paid or payrnerit has been provided therefor. This bond will bear interesi from the most recent interest payment date to which interest has been paid or provided for, ar, if no interest has been paid, from the date of this bond. The principal of this bond is payable upon presentation and surrender hereof to the Town's registrar and paying agent {the "Registrar" -19- t ~ 1 or the "Paying Agent"), presently Central Banl< National Association, in Denver, Colorado, at ils operations center at First Trust, N.A. in St. Paul, Minnesota. Interest on this bond will be paid on or before each- interest payment date (or, if such interest payment date is not a business day, on or before the next succeeding business day), by check ~ ar draft mailed to the person in whose name this bond is registered (the "registered owner"} in the registration records of the Town maintained by the Registrar and at the address appearing thereon at the class of business on the fifteenth day of the calendar month next preceding such interest payment date (the "Regular Record Date"). Any such interest not so timely paid or duly provided for shall cease to be payable to the person who is the registered owner hereof at the close of business on the Regular Record Date and shall be payable to the person who is the registered owner hereof at the close of business on a Special Record Date for the payment of any defaulted interest. Such Special Record Date shall be fixed by the Registrar whenever moneys become available for payment of the defaulted interest, and notice of the Special Record Date shall be given to the registered owners of the bonds of the series of which this is one (the "Bands") not less than ten days prior to the Special Record Date. Alternative means of payment of interest may be used if mutually agreed to between the owner of any Band and the Paying Agent, as provided in the ordinance of the Tawn authorizing the issuance of the Bonds (the "Bond Ordinance"). All such payments shall be made in lawful money of the United States of America without deduction for the services of the Paying Agent or Registrar. Bonds of the series o£ which this bond is a part (the "1941 Bands") maturing on and after December 1, 2002, are subject to prior redemption, at the option of the Town, in whole, or in part, in integral multiples of $5,000, from such maturities as are selected by the Town, and if less than all of the Bonds of a maturity are to be redeemed, by, lot within a maturity in such manner as the Registrar may determine, on December 1., 2001, or on any date thereafter, at a redemption price equal to 100% of the principal so redeemed plus accrued interest to the redemption date. Bonds of the series of which this bond is a part maturing on December 1, 2004, December 1, 2006, and December 1, 201 i, respectively, are subject to mandatory sinking fund -20- redemption in the manner provided in the Band Ordinance at a price equal to the principal amount thereof plus accrued interest to the redemption date. Bonds subject to mandatary sinking fund redemption shall be selected for mandatory sinking Fund redemption by lot in such manner as the Registrar shall determine {giving proportionate weight to Bonds in denominations larger than $5,000}. 4n nr before the thirtieth day prior to each such sinking fund payment date, the Registrar will proceed to call the Bands subject to mandatary sinking fund redemption (or any Band or Bands issued to replace such Bnnds) far redemption from on the next December 1, and give notice of such call. The Town is entitled to certain credits against its sinking fund redemption obligation in the manner and upon the conditions provided in the Band Ordinance, ' . In the case of redemption of Bonds of a denomination larger than $5,000, a portion of such Band {$5,000 or any integral multiple thereof} may be redeemed, in which case the Registrar shall, without charge to the owner of such Bond, authenticate and issue a replacement Band ar Bands for the unredeemed portion thereof. Redemption shall be made upon not more than sixty days and not less than. thirty days mailed Halite to the original purchasers and to each registered owner of Bonds to be redeemed as shown an the registration records kept by the Registrar, in the manner and upon the conditions provided in the Band Qrdinancc. The Bonds are issuable only as fully registered Bonds in denominations of $5,000 or any integral multiples thereof and are exchangeable for fully registered Bands of the same maturity and series in equal aggregate principal amounts and in authorized denominations at the aforesaid office aF the Registrar, but only in the manner, subject to the limitations and conditions, and upon payment of the charges provided in the Bond Ordinance. This Bond is fully transferable by the registered owner hereof in person or by his duly authorized attorney on the registration records kept by the Registrar upon surrender of this Bonc1 together with a duly executed writteri Instrument of transfer satisfactory to the Registrar, Upon such transfer a new fully registered bond of authorized denomination or denominations of the same series, aggregate principal amount and maturity will be issued to the transferee iii exchange for this bond, subject to such terms and conditions and on -21- ~~ payment . of the charges as set forth in the Bond Ordinance. The Town and the Registrar and Paying Agent may deem and treat the person in whose name this Band is registered as the absolute owner hereof for the purpose of malting payment and for all other purposes, except to the extent otherwise provided hereinahove and in the Bond Ordinance with respect to Regular and Special Record Dates for the payment of interest. .The Registrar will not be required to transfer or exchange (i) any Bond or porkian thereof during a period beginning at the opening of business fifteen days before the day of the mailing by the Registrar of notice of prior redemption and ending at the close of business on the day of such mailing, or (ii) any Bond or portion thereof after the mailing of notice calling such Band ar any portion thereof far prior redemption, except the unredeemed portion of Bonds being redeemed in part. The ].991 Bands are authorized for the purpose of defraying wholly or in part the casts of the Project (as defined in the Bond Ordinance), for the payment of costs and expenses incidental thereto and to the issuance of the Bonds, and for funding a reserve for the Bonds, all under the authority of and in full confar-mity with the Constitution of the State of Colorado and the Tawn Charter and pursuant to the Bond Ordinance duly adapted, published and made a !aw of the Town, all prior to the issuance of this bond. The fonds do not constitute a debt or an indebtedness of the Town within the meaning of any' applicable charter, constitutional ar statutory provision or limitation, shall not be considered or held to be a general obligation of the Town, and are payable from, and constitute a lrlcdge of, an irrevocable lien (but not necessarily an exclusive lien) an, all of the proceeds to be derived by the Tawn from the Pledged Sales Tax (as defined in the Bond Ordinance) and from any taxes which .hereafter may be imposed by the Tawn in addition thereto or in substitution therefor, Net Revenues (as defined in the Bond Ordinance) of the Parking Facilities (as dehned in the Bond Ordinance), any taxes, funds or revenues which the Town hereafter pledges to the payment of the Bands, certain other moneys held in the Bond Fund and thc~ Reserve Fund (as bath such funds are defined in the Bond Ordinance), and investment income. on certain funds, all to the extent that such moneys are ~ at any time required tcs he deposited into and held in the Income Fund, the Bond Fund, and the Reserve -zz- ,~ ,~ i ! • Fund created by, and as provided in, the Bond Ordinance, subject to certain exceptions and exclusions as provided in the Bond Ordinance (the "Pledged Revenues"). The Bonds constitute a pledge of, and an irrevocable lien (but not necessarily an exclusive lien} on all of the Pledged Revenues, on a parity with the lien of the Town's outstanding Sales Tax Revenue Bonds, Series 1989 (the "1989 Bonds"}. The Bonds are equitably and ratably secured by a lien on the Pledged Sales Tax, but the Bonds only constitute an irrevocable and second and subordinate lien (but not necessarily an exclusive second lien) upon the Pledged Sales Tax, such lien being second and subordinate to the lien of the Town's outstanding General Obligation Bonds, 1985 (the "1985 Bonds"). In connection with the Pledged Sales Tax and as required by the ordinance which authorized the 1985 Bands, the Town sha!! fully provide for the debt service, reserve account, and other requirements of the 1985 Bonds in any fiscal year and, only after such provision, may use excess Pledged Sales Taxes for the payment of the principal of and interest on the Series Bonds, by transferring such excess Pledged Sales Taxes to the Income Fund {as defined in the Bond Ordinance). The Bonds constitute an irrevocable and first lien (but not necessarily an exclusive first lien) upon the other Pledged Revenues except far the Pledged Sales Tax. Payment of the principal of and interest on this bond shall be made from, and as security for such payment there are irrevocably (and exclusively) pledged, pursuant to the IIond Ordinance, moneys deposited and to be deposited in a special fund of the Town (the "Bond Fund") intro which ~ fund the Tnwn has covenanted under the Ordinance to pay from the Pledged Revenues, a sum sufficient, together with other moneys available in the Bond Fund therefor, to pay when due the principal of and interest on the 1989 Bonds, the 1991 Bonds and any Additional Bonds (as defined in the Bond Ordinance).. In addition, there is irrevocably and exclusively pledged to the payment of the 19$9 Bonds, the 1991 Bonds and any Additional Bonds (as dehned in the Bond Ordinance} a reserve fund {the "Reserve Fund") which will be maintained as a reasonable reserve therefor. Except as otherwise specified in the Bond Ordinance, this Bond is entitled to the benefits of the Ordinance -23- ' { equally and ratably both as to principal (and redemption price) and interest with all other Bonds issued and to be issued under the Bond Ordinance, to which reference is made for a description of the rights of the owners of the 1991 Bonds and the rights and obligations of the Town. This band is payable from the Pledged Revenues, and the owner hereof may not lank to any general ar other fund of the Town for the payment of the principal of and interest on this band except the Pledged Revenues. Reference is made to the Bond Ordinance for the provisions, among others, with respect to the custody and application of the proceeds of the 1991 Bonds, the receipt and disposition of the Pledged Revenues, the nature and extent of the security, the terms and conditions under which additional bonds payable from the Pledged Revenues may he issued, the rights, duties and obligations of the Town, and the rights of the owners of the Bonds; and by the acceptance of this bond the owner hereof assents to all provisions of the Bond Ordinance. The principal of and the interest on this bond shall be paid, and this bond is transferable, free from and without regard to any equities between the Town and the original or any intermediate owner hereof or any setoffs or crass-claims. This bond must be registered in the name of the owner as to both principal acid interest on the registration records kept by~the Registrar in conformity with the provisions stated herein and endorsed herein and subject to the terms and conditions set forth in the Bond Ordinance. No transfer of this band shall be valid unless made on the registration records maintained at the principal office of the Registrar by the registered owner or his attorney duly authorized in writing. The Bands have been designated in the Bnnd Ordinance as "qualified tax- exempt obligations" for the purposes of Section 2bS(b)(3) of the Internal Revenue Code of 198fi; as amended. It is further certified and recited that all the requirements of law have been Fully complied with by the proper Town officers in the issuance of this bond. -24- This bond shall not be valid or obligatary far arty purpose until the Registrar shall have manually signed the certificate of authentication herein. . IN TESTIMONY WHEREOF, the Tawn Cauncil of the Town of Vail has caused this band to be signed and executed in its name with a manual ar facsimile signature of the Mayor of the Town, and to be signed, executed and attested with a manual or facsimile signature of the Town Clerk, with a manual or facsimile impression of the seal of the Town affixed hereto, all as of the date specified above. !Manual or Facsimile Si~rtature) Mayor (MANUAL qR FACSIMILE SEAL} Attest: !Manual or Facsimile Signature) Town Clerk (End of Form of Bond} _~_ • • (Form of Registrar's Certificate of Authentication) This is ane of the Bonds described in the within-mentioned Band Ordinance, and this Band has been duly registered on the registration records kept by the undersigned as Registrar for such Bonds. CENTRAL BANK NATIONAL ASSOCIATION, as Registrar Date of Authentication and Registration: By: Authorized Officer or Employee (End of Form of Registrar's Certificate of Authentication) -2b- i ~ ~ ~ • {Farm of Assignment) For value received, the undersigned hereby sells, assigns and transfers unto the within Bond and hereby irrevocably constitutes and appoints attorney, to transfer the same on the records of the Registrar, with full pawcr of substitution in the premises. ~ ' Dated: Signature Guaranteed: Address of transferee: Social Security or other tax identification number of transferee: NOTE: The signature to this Assignment must correspond with the name as written on the face of the within Band in every particular, without alteration or enlargement ar any change whatsoever. EXCHANGE OR TRANSFER FEES MAY BE CHARGED (End of Form of Assignment} _~y_ ~~ ~. ~ • i (Form of Legal Opinion Certificate) STATE OF CC}LORADO ) LEGAL OPINION COUNTY OF EAGLE ) • SS. CERTIFICATE TOWN OF VAIL } I, the undersigned Town Clerk of the Town of Vail, in the County of Eagle and State of Colorado, da hereby certify that the following approving legal opinion of Sherman & Howard, Attorneys at Law, Denver, Colorado: [Insert text of legal apinion~ is a true, perfect and complete copy of a manually executed and dated copy thereof nn file in the records of the Town in my office; that a. manually executed and dated copy of the opinion was forwarded to a representative of the original purchasers far retention in their records; and that the opinion was dated and issued as of the date of the delivery of and payment fnr the Bonds of the series of which this is one. IN WITNESS WHEREOF, I have caused to be hereunto set my manual or facsimile signature. ' (Manual or Facsimile Si~naturel Town Clerk (End of Farm of Legal Opinion Certificate) _2g_ ~ ~ ~ Section 13. Deiiverv of 1991 Bonds and Disposition of Proceeds. When the 1991 Bands have been duly executed by appropriate Town officers and authenticated by the Registrar, the Town Manager shall cause the 1991 Bonds to be delivered, at one time or from time to time, to the Purchaser, on receipt of the agreed purchase price. The 1991 Bonds shall be delivered in such denominations as the Purchaser shall direct (but subject to the provisions of Section 6 hereof); and the Registrar shall initially register the 1991 Bonds in such name or names as the Purchaser shall direct. The proceeds of the 1991 Bands, including without limitation the accrued interest thereon, shall be deposited promptly by the Town Manager and shall be accounted for in the following manner and are herehy pledged therefor, but the Purchaser of the 1991 Bands or any subsequent owner in no manner shall be responsible far the application or disposal by the Town ar any of its officers of any of the funds derived from the sale: {i} All accrued interest, iF any, received in respect of the 1991 Bonds shall be credited to the Bond Fund to be applied to the payment of the 1991 Bonds. (ii) An amount equal to $2SS,S00 of the anginal principal amount of the 1991 Bonds as of the date of initial delivery shall be credited to the Reserve Fund. (iii) All remaining proceeds of the 1991 Bonds shall be credited to the following special and separate account, hereby created and established, ro be known as the "Yawn of Vail, Colorado Sales Tax Revenue Bands, Series 1991, Construction F~md," to be used, together with any other available moneys therefor, to pay the costs of the Project including casts incidental to the issuance of the 1991 Bonds. After payment of all costs of the Project, or after adec}uate provisions therefor is made, any unexpended balance in the Construction Fund shall be deposited in the Bond Fund and applied to the payment of the principal of and interest on the 1991 Bonds. -29- ~~ ~~ • ! • Section 14. Use of Moneys in Income Fund. A. Incame Fund. So long as any Bands shall be Outstanding, either as to principal or interest, the Pledged Revenues shall, upon receipt by the Town, be deposited in a special and separate account, heretofore created and established by the 1.989 Ordinance, known as the '"Town of Vail Income Fund." The fallowing payments shall be made from the Income Fund: B. Bond Fund. First, there shall be credited from the Incame Fund to a fund created by the 1989 Ordinance and known as the 'Town of Vail, Sales Tax Bond Fund" the following amounts: 1. Interest Payments. Monthly to the Bond Fund, commencing on the first day of the month immediately succeeding the delivery of any of the Bands, or commencing on the first day of the month One year next print to the first interest payment date of any of the Bonds, whichever commencement date is later, an amount in equal monthly installments necessary, together with any moneys therein and available therefor, to pay the interest due and payable on the Outstanding Bands on the next succeeding interest payment date. 2. Principal Pavments.~ Monthly to the Bond Fund, commencing an the first day of the month immediately succeeding the delivery of any of the Bonds, or commencing on the first day .of the month one year next prior to the first principal payment date of any of the Bonds, whichever commencement date is later, an amount in equal monthly installments necessary, together with any moneys therein and available therefor, to pay the principal and redemption premium, if any, due and payable on the Outstanding Bonds on the next succeeding principal payment date. 3. Reduction of Pavnnents. If prior to any interest payment date ar principal payment date, there has been accumulated in the Bond Fund the entire amount necessary to pay the next maturing installment of interest or principal, or both, the payment required in subparagraph (1) or (2) (whichever is applicable) of this paragraph, may be appropriately _~~_ • • reduced; but the required monthly amounts again shall be so credited to such account commencing on such interest payment date ar principal payment date. The moneys in the Band Fund shall be used only to pay the principal of, prior redemption premium if any, and interest an the Bonds as the same becomes due. C. Reserve Fund. Second, except as hereinafter provided, from any moneys remaining in the Income Fund there shall be credited monthly, to a separate account created by the 1989 Qrdinance and known as the '"Town of Vail Sales Tax Revenue Bonds Reserve Fund" an amount, if any, which is necessary to maintain the Reserve Fund as a continuing reserve in an amount not less than the Reserve Fund Requirement ar to pay the issuer of any Band Reserve Insurance Policy any amounts awing to such issuer under the terms of the Band Reserve Insurance Policy. In determining the amounts required to be deposited as provided above, the Tawn shall receive credit for any investment earnings on the deposits in the Reserve Fund. Investment earnings on deposits in the Reserve Fund shall remain in the Reserve Fund until the amount an deposit equals the Maximum Annual Debt Service Requirement. No credit need be made to the Reserve Fund so long as the moneys and/or a $and Reserve Insurance Policy therein equal the Reserve Fund Requirement (regardless of the source of such accumulations). The Reserve Fund Requirement shall be accumulated and maintained as a continuing reserve to be used, except as hereinafter provided in subsections D, and F of this Section and Section 20 hereof, only is prevent deficiencies in the payment of the principal of and the interest on the Bonds resulting from the failure to credit to the Bond Fund sufficient funds to pay said principal and interest as the same accrue or to pay the issuer of any Bond Reserve Insurance Policy any amounts owing to such issuer under the terms of the Bond Reserve Insurance Policy. The Reserve Fund Requirement shall be calculated upon (i} any principal payment, whether at stated maturity or upon redemption, (ii} the issuance of Additional Bands, or (iii} the defeasance of all or a portion of the Bonds. In lieu of ail ar a portion of the moneys required to be deposited in the Reserve Fund by this Ordinance, the Town may. at any time or from time to time deposit a -31- ~~ << ~ • i Bond Reserve Insurance Policy in the Reserve Fund in full nr partial satisfaction of the Reserve Fund Requirement; provided that any such Bond Reserve Insurance Policy shall be payable: an any date on which moneys will be required to be withdrawn from the Reserve Fund as provided herein. Upon deposit of any Bond Reserve Insurance Policy in the Reserve Fund, the Town may transfer moneys equal to the amount payable under the Band Reserve Insurance Policy from the Reserve Fund and •apply such moneys to any lawful purpose. if the covenant contained in Section 19.K. of this Ordinance daes not permit the use of proceeds of any series of Bonds for a full funding of the Reserve Fund in the amount of the Reserve Fund Requirement, the maximum amount of proceeds of such series of Bonds which may be deposited to the Reserve Fund pursuant to Section 19.K, shall be deposited to the Reserve Fund upon the issuance of such series of Bonds, and Pledged Revenues shat! ~ be. deposited to the Reserve Fund monthly so that not later than twelve calendar months ~ after the date of issuance of such series of Bonds, the amount on deposit in the Reserve Fund shall equal the Reserve Fund Requirement. D. Termination Uaon Deposits to Maturity or Redemntion Date. No payment need he made into the Bond Fund, the Reserve Fund, or both, if the amount in the Bond Fund and the amount in the Reserve Fund total a sum at least equal to the entire amount of the Outstanding Bonds, both as to principal and interest to their respective maturities, or to any redernptian date on which the Town shall have exercised its option to redeem the Bands then Outstanding and thereafter maturing, including any prior redemption premiums then due, and both accrued and not accrued, in which case moneys in said two funds in an amount at least equal to such principal and interest requirements shall be used solely to pay such as the same accrue, and any moneys in excess thereof in said two funds may be withdrawn, and used for any Lawful purpose. E. Defravina Delinquencies in Bond and Reserve Funds. If on any required monthly payment date tlic Tnwn shall for any reason fail to pay into the Bond Fund the full amount above stipulated, then an amount shall be paid 'into the Band Fund on such date -32- . ~ ,. from the Reserve Fund equal to the difference between the amount paid and the full amount so stipulated. The money sa used shall be replaced in the Reserve Fund from the first Pledged Revenues received that are not required to be otherwise applied by this section, but excluding any payments required for any subordinate obligations; provided, however, that an amount equal to the amount withdrawn from the Reserve Fund shall be deposited by the Town in the Reserve Fund no later than twelve months from the date of such withdrawal. If at any time the Town shall for any reason fail to pay into the Reserve Fund the full amount above stipulated from the Pledged Revenues, the difference between the amount paid and the amount so stipulated shall in a like manner be paid therein from the first Pledged Revenues thereafter received not required to be applied otherwise by this section, but excluding any payments required for any subordinate obligations. The moneys in the Bond Fund and in the Reserve Fund shall be used solely for the purpose of paying the principal and any redemption premium of and the interest on the Bonds and moneys in the Reserve Fund shall be used to pay the issuer of any Bond Reserve Insurance Policy any amounts awing to such issuer under the terms of the Bond Reserve Insurance Policy; provided, however, that any moneys at any time in excess of the Reserve Fund Requirement calculated with respect to the .Bonds in the Reserve Fund may be withdrawn therefrom and used for any lawful purpose; and provided, further, that any moneys in the Bond Fund and in the Reserve Fund in excess of accrued and unaccrued principal and interest requirements to the respective maturities of the Outstanding Bonds may be used as provided in Paragraph D of this section. F. Rebate Fund. Third, there shall be deposited in a special account created by the 1989 Ordinance and known as the "Town of Vail Sales Tax Revenue Bonds Rebate Fund" amounts required by Section 148(f} of the Tax Code to be held until such time as any required rebate payment is made. Amounts in the Rebate Fund shall be used far the purpose of making the payments to the United States required by Section 148(f) of the Tax Code. Any amounts in excess of those required to be on deposit therein by Section 148(f) -33- of the Tax Code shall be withdrawn therefrom and deposited into the Income Fund. Funds in the Rebate Fund shat! not be subject to the lien created by this Ordinance to the extent such amounts are required to be paid to the United States Treasury. The Town may create separate accounts in the Rebate Fund in connection with the issuance of Additional Bonds. G. Payment far Subordinate Obliations. After the payments required by Paragraphs B, C and F of this section, the Pledged Revenues shall be used by the Town for the payment of interest on and principal of any subordinate lien obligations hereafter authorized to be issued and payable from the Pledged Revenues, including reasonable reserves therefor. H. Use of Remaining Revenues. After making the payments required to be made by this Section, any remaining Pledged Revenues may be used for any lawful purpose. Nothing in this Ordinance shall prevent the Town from withdrawing from the Income Fund amounts collected by the Town and subsequently determined, pursuant to the applicable Safes Tax Ordinances, to be subject to valid claims for refunds. Section 15. General Administration of Funds. The funds designated in Sections 13 and 14 hereof shall be administered as follows subject to the limitations stated in Section 19.K. hereof: A. Budcet and Annronriation of Funds. The sums provided to make the payments specified in Section 14 hereof are hereby appropriated for said purposes, and said amounts for Hach year shall be included in the annual budget and the appropriation ordinance or measures to be adopted ar passed by the Town Council in each year respectively while any of the 1991 Bonds, either as to principal or interest, are Outstanding and unpaid. No provision of any constitution, statute, charter, ordinance, resolution or other order or measure enacted after the issuance of the 1991 Bonds shall in any manner be construed as limiting ar impairing the obligation of the Tnwn to keep and perform the covenants contained in this Ordinance so long as any of the 1991 Bonds remain Outstanding and unpaid. Nothing herein shall prohibit. the Town Council, at its sole option, Pram appropriating and applying other -34- z r funds of khc Town legally available for such purpose to the Band Fund or Reserve Fund far the purpose. of providing for the payment of the principal af, interest on or any premiums due with respect to the 1991 Bonds. ~~ B. Places and Times of Deposits. Each of the special funds created in Section 14 hereof and the Construction Fund created in Section 13 hereof 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 far the purposes herein designated therefor. For purposes of investment of moneys, nothing herein prevents the commingling of moneys accounted far in any two or more such book-accounts pertaining to the Pledged Revenues or to~ such funds and any other funds of the Town to be established under this Ordinance. Such bnok account shall be continuously secured to the fullest Extent required 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 bank account not later than the date therefor herein designated,. except that when any such date shalt be a Saturday, a Sunday or a legal holiday, then such payment shall be made an ar before the next preceding business day. C. Investment of Funds. Any moneys in the Construction Fund created pursuant to Section 13 hereof, and any moneys in any fund established by Section 14 of this Ordinance may be invested or reinvested in any Permitted Investment. Securities or obligations purchased as such an investment sha11 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 ar times as shall mast 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 alI times to be a part of the applicable 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 -35- • • provide moneys to meet any required payment or transfer from such fund. TIYe Town shall have no oblibation to make any investment or reinvestment hereunder, unless any moneys on hand and accounted for in any one account exceed $S,DOQ and at least $S,f?[f0 therein will not be needed for a period of not less than sixty days. In such event the Tawn shall invest or reinvest not less than substantially all of the amount which will not be needed during such sixty 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 15.B. and Section 15.C. hereof; but the Town is not required to invest, or so ko invest .in such a manner, any moneys accounted for hereunder if any such investment would contravene the covenant concerning arbitrage in Section 19.K. hereof. p. No Liability for Losses Incurred in Performing Terms of Ordinance. Neither the Town nor any officer of the Town shall be liable or responsible far any loss resulting from any investment or reinvestment made in accordance with this Ordinance. B. Character of Funds. The moneys in any fund or account herein authorized shall consist of lawful money of the United States ar investments permitted by Section 15.C. hereof nr both such money and such investments. Moneys deposited in a demand or time deposit account in or evidenced by a certificate of depnsit of a Commercial Bank pursuant to Sections 15.8. and 15.C. hereof, appropriately secured according to the laws of the State, shall be deemed lawful money of the United States. Section 16. Lien on Pledged Revenues. The 1991 Bonds constitute a pledge of, and an irrevocable lien (but not necessarily a^ exclusive lien) on all of the Pledged Revenues, on a parity with the Iien of the 1989 Bonds. The 1991 Bonds are equitably and ratably secured by a Iien on the Pledged Sales Tax, but the 1991 Bonds, in accordance with the requirements of the 1965 Ordinance, only constitute an irrevocable and second and subordinate Iien (but not necessarily an exclusive second lien) upon the Pledged Sales Tax; such lien.being second and subordinate to the lien of the Town's 1985 Bonds. 'In connection -36- r with the Pledgcd Sales Tax and as required by the 1985 Ordinance, the Tawn shall fully provide far the debt service, reserve account, and other requirements of the 1985 Bands in any Fiscal Year and, only after such provision, may use excess Pledged Sales Taxes for the payment of the principal of and interest an the 1991 Bands, by transferring such excess Pledgcd Sales Taxes to the Income Fund. The 1991 Bancls constitute an irrevocable and first lien (but not necessarily an exclusive first lien) upon the other Pledged Revenues except for the Pledged Sales Tax. Section 17. Additional Bonds. A. Limitations Uvon Issuance of Additianal Bonds. Nothing in this Ordinance shall be construed in such a manner as to prevent the issuance by the Town of additional bonds or other obligations, payable from and constituting a Tien upon the Pledged Revenues an a parity with the lien of the 1991 Bonds {the "Additional Bonds"). Such Additional Bonds may be payable solely Pram Pledged Revenues or they may be payable from Pledged Revenues and another revenue or fund of the Town ("Additional Pledged Revenues"). Regardless of whether payable solely from Pledged Revenues or from Pledged Revenues and Additianal Pledged Revenues, before any such bonds or other obligations are authorized ar actually issued the following condition shall be satisfied: for the Fiscal Year immediately preceding the issuance of any Additional Bands, the amount of Pledged Sales Tax Revenues in such Fiscal Year must equal ar exceed 125% of the Maximum Annual Debt Service Requirement on the Bonds (including the Additional Bonds proposed to be issued) and the amount of Pledged Revenues in such Fiscal Year must equal ar exceed 140% of the Maximum Annual Debt Service Requirement an the Bonds (including the Additianal Bands proposed to be issued). Far the purpose of satisfying the aforementioned 125% test and 140% test, any tax, now existing or hereafter imposed, which legally becomes a part of the Pledgcd Revenues during the Fiscal Year preceding the issuance of Additional Bonds, ar any tax which is to IegalIy become a part of the Pledged Revenues immediately prior to the issuance af. Additional Bonds, or any increase in the rate of any tax which is a part of the -37- Pledgc;d Revenues which increase is imposed during the Fiscal Year preceding the issuance of Additional Bonds or any such increase which is to be imposed immediately prior to the issuance of Additional Bonds can be considered fnr its estimated effect on the amount of the Pledged Revenues as if such tax or increase had been in effect for the Fiscal Year inmediately preceding the issuance of such Additional Bonds. Any tax which is no Innger in effect aC the time of issuance of the Additional Bonds shall not be considered for purposes of satisfying such tests. Any Pledged Revenue which is not a tax shall be considered similarly for purposes of satisfying such tests. l<f the ordinance authorizing a series of Additional Bonds wil! pledge Additional Pledged Revenues to the Bonds, the estimated effect of the amount of such Additional Pledged Revenues may he considered as if such revenues had been received for the last Fiscal Year immediately preceding the issuance of such Additional Bonds. B. Certificate of Revenues. A written certification by a certified public accountant who is not an employee of the Town that the requirements of paragraph A of this section have been met shall be conclusively presumed to be accurate in determining the right of the Town to authorize, issue, sell and deliver said Additional Bonds on a parity with the 1991 Bonds herein authorized. C. Subordinate Ohli~ations Permitted. Nothing in this Ordinance shall be construed in such a manner as to prevent the issuance by the Town of additional abligations payable from and constituting a Tien upon the Pledged Revenues subordinate or junior to the lion of the 1991 Bonds, D. Superior Ohli~ations Prohibited. Nothing in this Ordinance shall be construed so as to permit the Town to hereafter issue obligations payable from the Pledged Revenues having a lien thereon prior or superior to the 1991 Bonds. Section i8. Refundine Ohli~ations. A. Generally. if at any time after the 1991 Bonds, or any part khereof, shall have been issued and remain Outstanding, the Town shall find it desirable to refund any -38- ~~ ~- ~ • ~ Outstanding obligations payable from the Pledged Revenues, said obligations, or arty part thereof, may be refunded, subject to the provisions of Paragraph B of this Section, if (1} the obligations to be refunded, at the time of their required surrender for payment, shall then mature or shall then be callable for prior redemption at the Town's option upon proper call, or (2) the owners of the obligations to be refunded and Bond Insurer, if Band Insurer insured such obligations, consent to such surrender and payment. B. Protection of Obigations Not Refunded. Any refunding obligations payable from the Pledged Revenues shall be issued with .such details as the Town Council may provide, so ling as there is no impairment of any contractual obligation imposed upon the Town by any proceedings authorizing the issuance of any unrefunded .portion of obligations payable from the Pledged Revenues; but so long as any 1991 Bonds are Outstanding, refunding obligations payable from the Pledged Revenues may be issued on a parity with the unrefunded Bands only if: (] } Prior Consent. The Town first receives the consenE of the owner or owners of the unrefunded Bonds and Bond Insurer, if Bond Insurer insured such obligations; or (2) Requirements Not Increased. The refunding obligations do not increase by more Than $25,000, for any Fiscal Year prior to and including the last maturity date of any unrefunded Bonds, the aggregate principal and interest reciuirements evidenced by such refunding abligations and by any Outstanding Bonds not refunded, and the lien of any refunding parity abligations on the Pledged Revenues is oat raised to a higher priority than the lien thereon of any abligations thereby refunded; ar (3) Earnings Test. The refunding obligations are issued in compliance with paragraphs A and B of Section 17 hereof: Section 19. Protective Covenants. The Town hereby additionally covenants and agrees with each and every owner of the 1991 Bonds that: -39- i ~ A. Use of 1991 Bond Proceeds. The Tawn will proceed with the construction of the Project without delay and with due diligence. B. Pavment of 1991 Bonds. The Town will promptly pay the principal of and interest an every 1991 Bond issued hereunder and secured hereby on the dates and in the manner specified herein and in said 1991 Bonds according to the true intent and meaning hereof. Such principal and interest is payable solely from the Pledged Revenues. , C. Amendment of Certain Ordinances: Duty to Impose Sales Tax: Impairment of Contract. The Sales Tax Ordinances are in full force and effect and have not been repealed or amended. The Town will not repeal or amend said Sales Tax Ordinances in any manner which would diminish the proceeds of the Sales Tax by an amount which would materially adversely affect the rights of the owners of the Bands. The Town agrees that any law, ordinance or resolution of the Town, in any manner affecting the Pledged Revenues or the Bonds, or otherwise appertaining thereto, shall not be repealed or otherwise directly or indirectly modified in such manner as to materially adversely affect any Bonds Outstanding, unless the required consent is obtained, all as provided in Section 28 of this Ordinance. Notwithstanding any other provision of this Section or this Ordinance, the Town shall retain the right to make changes, without any corisent of Bond owners or the Bond Insurer, in the Sales Tax Ordinances, or any ordinance supplemental thereto or in substitution therefor, concerning the use of proceeds of the Pledged Sales Tax remaining after the current requirements of all ordinances authorizing bonds or other securities payable from the Pledged Sales Tax, or any portion thereof, have been met; or concerning changes in applicability, exemptions, administration, collection or enforcement of the Sales Tax, if such changes do not materially adversely affect the security for the Bonds; but the Town shall not reduce the present rates of the Pledged Sales Tax, without the consent of the owners of sixty-six percent (fiG%) in aggregate principal amount of the then Outstanding 1991 Bonds or Bond Insurer (whichever is approliriate), as provided in Section 28 of this Ordinance. -QO- ' • The foregoing covenants arc subject to compliance by the Town with orders of courts of competent jurisdiction concerning the validity, constitutionality or collection of such tax revenues, 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 or action applies to the Tawn as a Colorado home rule city and limits or otherwise inhibits the amount of such tax revenues due to the Town. All of the ~Piedged Revenues resulting from the imposition and collection of the Sales Tax sha11 be subject to the payment of the principal of, interest an, and redemption premium, if any, of all securities payable from the Pledged Revenues, including reserves therefor, as provided herein or in any instrument supplemental or amendatory hereof. D. Defense of 1_eeality of Pledged Revenues. 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, or the Sales Tax Ordinances or the imposition and collection of the Sales Tax, any of the Town's obligations under this Ordinance or any of the transactions contemplated by this Ordinance or the Sales Tax Ordinances. The Tawn shall, to the extent permitted by law, defend the validity and legality of this Ordinance, the Sales Tax and the Sales Tax Ordinances against all claims, suits and proceedings which would diminish or impair the Pledged Revenues. Furthermore, the Town shall amend from time to time the provisions of any ordinance or resolution of the Town, as necessary to prevent impairment of the Pledged Revenues as required to meet the principal of, interest on, and prior redemption premium, if any, of the 1991 Bonds when due. E. Further Assurances. At any and all times the Tawn shall, so far as it may be authorized by law, pass, make, do, execute, acknowledge, deliver and file ar record alI 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, _q1_ • ! ~~ granting, assigning and confirming all and singular the rights, the Pledged Revenues and other funds and accounts hereby pledged ar 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 said Pledged Revenues and other funds and accounts pledged hereunder and all the rights of every owner of any of the 1991 Bonds against all claims and demands of all Persons whomsoever. F. Conditions Precedent. Upon the issuance of any of the 1991 Bonds, ali conditions, acts and things required by the Constitution ar laws of the United States, the Constitution or laws of the State, the Charter ar this Ordinance, to exist, to have happened, and to have been performed precedent to or in the issuance of the 1991 Bands shall exist, have happened and have been performed, and the 1991 Bands, 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 Canstitutinn or laws of the State ar the Charter. G. Retards. So long as any of the 1991 Bonds remain Outstanding, proper hooks of record and account will be kept by the Town, separate and apart from all other retards and accounts, showing complete and correct entries of all transactions relating to the Pledged Revenues and the funds created or continued by this Ordinance. H. Audits. The Town further agrees that it will, within i4Q days following the close of oath fiscal year, cause an audit of such books and accounts to be made by a certified public accountant, who is not an employee of the Town, showing the revenues and expenditures of the Pledged Rovenues. The Town agrees to allow the owner of any of the 1991 Bonds to review and copy such audits and reports, at the Town's offices, at his request. Copies of such audits and reports will he furnished to Bond Insurer and the Purchaser. -~2- ~~ ~~ i r • ~: I. Perfarmine Duties. The Town will faithfully and punctually perform all duties with respect to the Pledged Revenues required by the Charter and the Constitution and laws of the State and the ordinances and resolutions of the Town, including but not limited to the proper collection and enforcement of the Sales Taxes and the segregation of the Pledged Revenues and their application to the respective funds herein designated. 3. Other Liens, As of the date of issuance of the 1991 Bonds, other than the 1985 Brands and the 1989 Bands, there are na liens or encumbrances of any nature whatsoever on or against any of the Pledged Revenues. K. Tax Covenant. The Town covenants for the benefit of the Registered Owners of the 1991 Bands that it will not take any action or omit to take any action with respect to the 199.1 Bonds, the proceeds thereof, any other funds of the Town or any facilities financed with the proceeds of the 1991 Bonds if such action or omission (i) would cause the interest on the 1991 Bonds to lose its exclusion from gross income for federal income tax purposes under Section 103 of the Tax Code, (ii) would cause interest on the 1991 Bonds to lose its exclusion from alternative minimum taxable ineorne as defined in Section 5S(b}(2) of the Tax Cade except to the extent such interest is required to be included in adjusted current earnings adjustment applicable to corporations under Section Sd of the Tax Code in calculating corporate altcrnative minimum taxable income, nr (iii) would cause interest an the 1991 Bonds to lose its exclusion from Colorado taxable income or Colorado alternative minimum taxable income under present Colorado law. The foregoing covenant shall remain in full force and effect notwithstanding the payment in full or defeasance of the 1991 Bonds until the date an which all obligations of the Town in fulfilling the above cavenanC under the Tax Code and Colorado law have been met. For the purposes of Section 26S(b)(3)(B} of the Tax Code, the Town hereby designates the 1991 Bonds as qualified tax- exempt, obligations. L. Town's Existence. The Town will maintain its corporate identity and existence so long as any of the 1991 Bands remain Outstanding, unless another political -43- • subdivision by operation of law succeeds to the duties, privileges, powers, liabilities, disabilities, immunities and rights of the Town and is obligated by law to receive and distribute the Pledged Revenues in place of the Town, without materially adversely affecting the privileges and rights of any owner of any Outstanding 1991 Bonds. M. Performance of Duties. The Town will faithfully and punctually perform or cause to be performed alt duties with respect to the Gross Revenues and the Parking Facilities required by the laws of the State and the resolutions of the Town, including without limitation filing and collecting reasonable and sufficient charges far services rendered or furnished by the Parking Facilities as herein provided, and the proper segregation of the Gross Revenues as set forth in Section 14 hereof and their application to the respective funds as herein provided. N.. Fees. Rates and Charges. 50 long as the 1491 Bonds authorized herein remain Outstanding, the Town will cause to be established, imposed and maintained such reasonable fees, rates and other charges far the use or otherwise in respect of the Parking Facilities as will provide in each Fiscal Year sufficient Gross Revenues which together with other Pledged Revenues shall be sufficient: (i) To pay the General Operating Expenses; and (ii) to pay the annual requirements of principal of, premium, if any, and interest an the Outstanding Bonds, including any required credit to the Reserve Fund and the Rebate Fund. Such fees, rates and charges shall be reasonable and just, taking into account the cast and value of the Parking Facilities and the casts of operating and maintaining them, and the amounts necessary far the retirement of all bands and any other obligations payable frcim the gross revenues, accrued interest thereon and any reserves therefor. O. Prompt Collections: The Town will cause the Gross Revenues to be collected promptly and accounted for in the funds as herein provided. -44- P. Maintenance of Parkins Facilities. The Town will at all times maintain the Parking Facilities in goad repair, working order and condition, will continually administer and operate the Parking Facilities, and from time to time will make all needful and proper repairs, renewals and replacements of the Parking Facilities. Q. Disposal of Property Prohibited. Except for any lease or other right of use for proper rentals or other consideration, the Town will not sell, mortgage, pledge or otherwise encumber, nr in any manner dispose of, or otherwise alienate, the Parking Facilities ar any part thereof, until all 1991 Bands shall have been paid in full, both principal and interest, or unless provision has been made therefor, except as provided in Section 19.R. hereof. R. Disposal of Unnecessary Property. The Town may sell, destroy, abandon, otherwise dispose of, ar alter at any time any property comprising a part of the Parking Facilities which shall have been replaced by other property of at least equal value, or which shall cease to be necessary far the efficient operation of the Parking Facilities, ar which will not materially adversely affect the owners of the 2991 Bonds. A written determination by the Tawn that the Gross Revenues will be sufficient to meet the requirements of this Section 19.R, shall be conclusively determined to he accurate; provided, however, that in the event of any sale or other ~ compensated disposition as aforesaid, the proceeds received an such disposition shall be credited to the Bond Fund. S. Fire and Extended Coveraee Insurance. The Town shall acquire and maintain, ar cause to be acquired and maintained, fire and extended coverage insurance on the Parking Facilities in amounts at least sufficient to provide for pat less tha^ full recovery whenever the less Pram perils insured against does not exceed ninety (90%} of the full insurable value of the Parking Facilities. The Town, at its election, may provide for such fire and extended coverage insurance on the Parking Facilities partially or wholly by _means of a self-insurance fund as provided by applicable law, in compliance with the requirements hereof. Any such self-insurance shall be deemed to be insurance coverage hereunder. -45- ' . • T. Other Insurance. The Town shall purchase and maintain in connection with, but not necessarily limited .to, the Parking Facilities public liability insurance and workmen's compensation insurance in such amounts and to such extent as may be required under the laws of the State or, in the absence of any State requirement, in an amount not less than the limitations provided in tie Colorado Governmental Immunity Act (Article 14, 'T'itle 24 of the Colorado Revised Statutes, as amended). The Town, at its election, may provide for the insurance specified in this Section 19.T partially or wholly by means of a self- insurance fund as provided by applicable law. Any such self-insurance shall be deemed to be insurance coverage hereunder. The proceeds of fire and extended coverage insurance covering the Parking Facilities, at the option of the Town, shall (i} be used forthwith for the purpose of repairing the property destroyed, provided that any insurance proceeds remaining upon the completion of such repair ar replacement shall be deposited in the Bond Fund or (ii} be deposited forthwith to the Band Fund. U. 5iirety Bonds. Each official of the Town having custody of the Pledged Revenues, or responsible -far their handling, shall be fully bonded at ail times, which bond shall be conditioned upon the proper application of such money. V. Preiudicial Contracts and Action Prohibited. No contract will be entered into, nor will any action be taken, by the Town by which the rights and privileges of any Owner are impaired or diminished. Section 2Q. Defeasance. When the 1991 Bonds have been fully paid both as to principal and interest, all obligations hereunder shall be discharged, and the 1991 Bonds shall no longer be deemed to be Outstanding for any purpose of this Ordinance, except as set Earth in Section 19.K. hereof. Payment of any 1991 Bonds shall be deemed made when the Town has placed in escrow with a Trust Bank an amount sufficient (including the known minimum yiulci from Governmental Obligations} to meet all requirements of principal, interest, and any prior redemption premiums on such 1991 Bonds as the same became due to maturity ar a designated prior redemption date; and, if 1991 Bands are to be redeemed prior to -46- ~ ~ ~ maturity pursuant to Section 7A hereof, when the Town has given to the Registrar inevocahle written instructions to give notice of prior redemption in accordance with Section 7D hereof. The Governmental Obligations shall become due prior to the respective times on which the proceeds thereof shall be needed, in accordance with a schedule agreed upon between the Town and such Trust Bank at the time of creation of the escrow and shall not be callable prior to their scheduled maturities by the issuer thereof. In the event that there is a defeasance of only part of the 1991 Bands of any maturity, the Registrar shall, if requested by the Town, institute a system to preserve the identity of the individual 1991 Bonds or portions thereof so defeased, regardless of changes in hand numbers attributable to transfers and exchanges of 1991 Bonds; and the Registrar shall he• entitled to reasonable compensation and reimbursement of expenses from the Town in connection with such system. Section 21. Delegated Powers. The officers of the Town be, and they hereby are, authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Ordinance, including, without limiting the generality of the foregoing, the printing of the 1991 Bonds with the opinion of bond counsel thereon, the procuring of bond insurance entering into and executing appropriate agreements with the Registrar and Paying Agent as to its services hereunder, and the execution of such certificates as may be required by tl~e Purchaser, including, but not necessarily limited to, the absence and existence of factors affecting the exclusion of interest on the 1991 Bonds from gross income for federal income tax purposes. The form, terms and provisions of the Purchase Contract and Registrar Agreement hereby are approved, and the Tawn shall enter into and perform its obligations under the Purchase Contract and Registrar Agreement in substantially the forms of such documents presented to the Town Council at this meeting, with only such changes therein as are required by the circumstances and are not inconsistent herewith; and the Mayor and -47- ~~ • • i Town Clerk are hereby authorized and directed to execute and deliver the Purchase Contract and Registrar Agreement as required hereby. Section 22. Events of Default. Each of the following events is hereby declared an "event of default:" A. Nanpavment of Principal. If payment of the principal of any of the 1991 Bends in connection therewith, shall not be made when the same shall become due and payable at maturity; ar by proceedings for prior redemption; or B. Nonoavment of Interest. If payment of any installment of interest on the 19')1 Bonds shall not be made when the same becomes due and payable; or C. Incapable to Perform. If the Town shall for any reason ~ be rendered incapable of fulfilling its obligations hereunder; or D. Default of anv Provision. If the Tnwn shall default in the due and punctual performance of its covenants ar conditions, agreements and provisions contained in the 1991 Bands or in this Ordinance on its part to be performed, other than these delineated in Paragraphs A and B of this section, and if such default shall continue for sixty days after written notice specifying such default and requiring the same to be remedied shall have been given to tl~e Town by the Bond Insurer sa long as it is eat in default of its payment obligations under the Bond Insurance Policy or, during such default by the Bond Insurer, by the owners of twenty-five percent (25%) in aggregate principal amount of the 1991 Bonds then Outstanding. Section 23. Remedies. Upon the happening and continuance of any event of default as provided in Section 22 hereoF, the Bond Insurer or owner or owners of not less than 25% in principal amount of the Outstanding Bonds, or a trustee therefor, may protect and enforce their rights hereunder by proper legal or equitable remedy deemed most effectual including mandamus, specific performance of any covenants, the appointment of a receiver (the consent of such appointment being hereby granted), injunctive relief, ar requiring the Town Council to act as if it were the trustee of an express trust, or any combination of such _~}g_ remedies. Notwithstanding the foregoing, so long as the Bond Insurer is not in default in its payment obligations under the Bond Insurance Policy or the Bond Reserve Insurance Policy, the Bond Insurer shall direct the enforcement of any remedy hereunder without the consent of the owners of the Bands. Ail proceedings shall be maintained for the benefit of the Band Insurer so fang as it is not in default in its payment obligations under the Bond Insurance Policy or the Bond Reserve Insurance Policy, and, during such default by the Bond Insurer, thereafter for the equal benefit of all owners. The failure of the Bond Insurer or any owner to proceed does not relieve the Town or any person of any liability for failure to perform any duty hereunder. The faregoing rights are in addition to any other right available to the Bnnd Insurer or owners of Bands and the exercise of any right by any owner shall not be deemed a waiver of any other right. Section 24. Duties Unon Default. Upon the happening of any of the events of default as provided in Section 22 .of this Ordinance, the Town, in addition, will do and perform all proper acts on behalf of and for the owners of the 1991 Bands to protect and preserve the security created for the payment of the 1991 Bonds and to insure the payment of the principal of and interest on said 1991 Bonds promptly as the same become due. Proceeds derived from the Pledged Revenues, so long as any of the 1991 Bonds herein authorized, either as to principal or interest, are Outstanding and unpaid, shall be paid into the Bond Fund and the Reserve Fund, pursuant to the terms hereof and to the extent provided herein, and used for the purposes herein provided. In the event the Town fails or refuses to proceed as in this section provided, the Bond Insurer so long as it is not in default of its payment obligations under the Bond Insurance Policy or, during such a default by the Bond Insurer, the owner or owners of not less than twenty-five percent (2S%) in aggregate principal ~~mount of the 1991 Bonds then Outstanding, after demand in writing, may proceed to protect and enforce the rights of such owners as hereinabove provided. Section 25. Replacement of Registrar or Paving Aeent. If the Registrar or Paying Agent initially appointed hereunder shall resign, or if the Town shall reasonably -49- .~ ~. • i • determine that said Registrar or Paying Agent has become incapable of performing its duties hereunder, the Town may, upon notice mailed to Bond Insurer and each owner of any 1991 Bond at his address last shown on the registration records, appoint a successor Registrar or Paying Agent, or both. No resignation or dismissal of the Registrar or Paying Agent may take effect until a successor is appointed. Every such successor Registrar or Paying Agent shall be a bank or trust company having a shareowners' equity (e.g, capital, surplus, and undivided profits}, however denominated, of not less than $10,000,000. Tt shall not be required that the same institution serve as bath Registrar and Paying Agent hereunder, but the Town shall have the right to have the same institution serve as both Registrar and Paying Agent hereunder. Section 26. Severability. If any one or more sections, sentences, clauses or parts of this Ordinance shall for any reason be held invalid, such judgment shall not affect, impair, cyr irnalidate the remaining provisions of this Ordinance, but shall be confined in its operation to the specific sections, sentences, clauses or parts of this Ordinance so held unconstitutional or invalid, and the inapplicability and invalidity of any section, sentence, clause or part of this Ordinance in any one or more instances shall not affect or prejudice in any way the; applicability and validity of this Ordinance in any other instances. Section 27. Repealer. All bylaws; orders, resolutions and ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent only of such inconsistency. This repealer shall not be construed to revise any bylaw, order, resolution or ordinance, or part thereof, heretofore repealed. Section 2$. Amendment. A. The Town may, without the consent of, or notice to the owners of the 1991 Bonds or Bond Insurer, adopt such ordinances supplemental hereto (which supplemental amendments shall thereafter farm a part hereof) for any one or mare ar all of the following purposes: -50- .~ ~~ • • i 1. To cure any ambiguity, or to cure, correct or supplement any defeck or inconsistent provision contained in this Ordinance, or to make any provisions with, respect to matters arising under this Ordinance or for any other purpose if such provisions are necessary or desirable and do not adversely affect the interests of the owners of the 1991 Bands or Bond >rnsurer; or 2. To subject to this Ordinance additional revenues, properties or collateral. B. Exclusive of the amendatory ordinances permitted by Paragraph A of this Section, this Ordinance may be amended or supplemented by ordinance adopted by the Town Council in accordance with the law, without receipt by the Tnwn of any additional consideration but with the written consent of Bond Insurer, unless Bond Insurer is in default under the terms of the Bond Insurance Policy, in which case this Ordinance may be amended or supplemented with the written consent of the owners of sixty-six percent (66%} in aggregate principal amount of the 1991 Bonds Outstanding at the time of the adoption of such amendatory or supplemental ordinance; provided, however, that, without the written consent of Band Insurer and the owners of all of the 1991 Bonds adversely affected thereby, no such Ordinance shall have the effect of permitting: . 1. An extension of the maturity of any 1991 Bond authorized by this Ordinance; or 2. A reduction in the principal amount of any 1991 Bond, the rate of interest thereon, or the prior redemption premium thereon; or 3. The creation of a lien upon or pledge of Pledged Revenues ranking prior to the lien or pledge created by this Ordinance; or 4. A reduction of the principal amount of 1991 Bonds required for consent to such amendatory or supplemental ordinance; or 5. The establishment of priorities as between 1991 Brands issued and Outstanding under the provisions of this Ordinance; or -S 1- a b. The rnadificatian of or otherwise affecting the rights of the owners of less than all of the 1991 Bonds then Outstanding. Copies of any waiver, modification or amendment to this Ordinance shall be delivered to Standard & Poor's Corporation, ar any other entity then maintaining a rating on the 1991 Bonds. Section 29. Notice to Bond Insurer. Any Halite herein required to be given to Bond Insurer shall be in writing and sent by registered or certified mail to Bond Insurer, Municipal Bond Investors Assurance Corporation, 113 King Street, Armonk, New York 105Q4 or to such other address that Bond Insurer shall notify the Town of in writing. Section 30. Pavrnents under the Palicv. A. In the ~ event that, an the second Business Day, and again an the Business Day, prior to any payment date on the 1991 Brands, the Paying Agent has not received sufficient moneys to pay all principal of and interest on the 1991 Bonds then due, the Paying Agent steal! immediately notify Bond Insurer or its designee on the same Business Day by telephone ar telegraph, confirmed in writing by registered or certified mail, of the amount of the deficiency. B. If the deficiency is made up in whole or in part prior to or on the payment date, the Paying Agent shall so notify Bond Insurer ar its designee. C. In addition, if the Paying Agent has notice that any registered owner has been required to disgorge payments of principal or interest on the 1991 Bands to a trustee in bankruptcy or creditors or others pursuant to a final judgment by a court of competent jurisdiction that such payment constitutes an avoidable preference to such registered owner within the meaning of any applicable bankruptcy laws, then the Paying Agent shall notify Bond Instiirer or its designee of such fact by telephone or telegraph, confirmed in writing by registered or certified mail. D. The Paying Agent is hereby irrevocably designated, appointed, directed and authorized to act as attorney-in-fact for registered owners of the 1991 Bonds as follows; _52.. ~~ ~~ • • i 1. If and to the extent there is a deficiency in amounts required to pay interest on the 1991 Bonds, the Paying Agent shall (a} execute and deliver to the Insurance Paying Agent, in form satisfactory to the Insurance Paying Agent, an instrument appointing Bond Insurer as agent far such registered owners in any legal proceeding related to the payment of such interest and an assignment to Bond Insurer of the claims for interest to which such deficiency relates and which are paid by Bond Insurer, {b) receive as designee of the respective registered owners (and not as Paying Agent) in accordance with the tenor of the Policy payment from the Insurance Paying Agent with respect to the claims far interest so assigned, and (c) disburse the same to such respective registered owners; and 2. If and to the extent of a deficiency in amounts required to pay principal of the 1991 Bonds, the Paying Agent shall {a) execute and deliver to the Insurance Paying Agent in form satisfactory to the Insurance Paying Agent an instrument appointing Bond Insurer as agent for such registered owner in any legal proceeding relating to the payment of such principal and an assignment to Bond Insurer of any of the 1991 Bonds surrendered to the Insurance Paying Agent of so much of the principal amount thereof as has not previously been paid or far which moneys are not held by the Paying Agent and available Far such payment (but such assignment shall be delivered only if payment from the Insurance Paying Agent is received), {b) receive as designee of the respective registered owners (and oak as Paying Agent) in accordance with the tenor of the Policy payment therefor from the Insurance Paying Agent, and {c) disburse the same to such registered owners. E. Payments with respect to claims for interest on and principal of 1991 Bands disbursed by the Paying Agent from proceeds of the Policy shall not be considered to discharge the obligation of the Town with respect to such 1941 Bonds, and Bond Insurer shall become the owner of such unpaid 1941 Bonds and claims for the interest in accordance with the tenor of the assignment made to it under the provisions of this subsection or otherwise. -53- F. Irrespective of whether any such assignment is executed and delivered, the Tawn and the Paying Agent hereby agree for the benefit of Bond Insurer that, 1. to the extent Bond Insurer makes payments, directly or indirectly {as by paying through the Paying Agent), on account of principal of or interest an the 1991 Bonds, Band Insurer will be subrogated to the rights of such registered owners to receive the amount of such principal and interest from the Town, with interest thereon as provided and solely fram the sources stated in this Indenture and the 1991 Bonds; and 2. they will accordingly pay to Bond Insurer the amount of such principal and interest (including principal and interest recovered under subparagraph {ii) of the first paragraph of the Policy, which principal and interest shall be deemed past due and not to have keen paid), with interest thereon as provided in this Ordinance and the ].991 Bonds, but only fram the sources and in the manner provided herein for the payment of principal of and interest on the 1991 Bonds to registered owners, and will otherwise treat Band Cnsurer as the owner of such rights to the amount of such principal and interest. Section 31. Ordinance Irrenealable. After any of the 1991 Bands herein authorized are issued, this Ordinance shat! constitute a contract between the Town and the owners of the 1991 Bonds, and shall be and remain irrepealable until the 1991 Bands and interest thereon s1~a11 he fully paid, cancelled and discharged as herein provided. Sectiarr 32. Disnositian of Ordinance. ~ This Ordinance, as adapted by the Council, shall be numbered and retarded by the Town Clerk in the official records of the Town. The adoption and publication shall be authenticated by the signatures of the Mayor, or Mayor Pro Tend, and Town Clerk, and by the certificate of puhlication. Section 33. Effective Date. This ordinance shall be in full farce and effect five days after its publication upon final passage as provided in Sectiarr ~.9 of the Charter. -5¢ ~, .. i ~ • INTRODUCED, READ AND SET FOR PUBLIC HEARING THIS 5th day of November, ].931. ADOr i ~D AND APPROVED THIS 19th day of November, 1991. ~ l~ ' Mayor Town of Vail, Colorado (SEAL) Attest: Town Clerk Town of Vail, Colorado -55- ~ . ~__ ~:, ~., ~ Q ~. ~. ~'_i ~~ ~ ~p~ y.,~ Z +~ ~ ~r ~,` ~ ~~. ~ ~.1 =~ '~^ ``4 ~, f' _~ ~. r{~ ~. ~ O ~ O ~ ~~ ~. {~ ,~ ~. ~ ~~ ~~~~ ~~~~`~a~ ~ ,~ ~~ ~ ~ ~ N ~' ~~ ~ ~ ~ v ~~~--~ ~ ~~~~ rn ~~.~ ~ ~~ ~ ~~° ro ~ ~ ~i~mQ.~~~~~ rr ~ ~ ~ ~~ ~ ~ ~ ~, ~ -~ ~. ?« ~~~~ ~~ m ~ ~ ~ ~ '~ ~~Q,~~:m ~~ ~ ~: ~ a~ o `~ to a I _ `~. .~ ~ ~ ~. ~ ~ ~~ ~ i~ p~° Q~ a~ w ~. ip f's 7~ x ~ p ~. ~ s ~ ~ w ~~-~° g Q ~ ~ Q ~. g. ~ ~-~ ~ ~~~ ~ ~. ~- Z .i ~....' ~ J}4~+ ToYM OG YAE, 1(are n F1a.. ATTEST: Y•p PrrW A ' lawn Crrh W WIrJ w IIM yM iN Ro.wrrw /, Iwl Public Notice PaOWAIaCF No. Ir Mlw of lwF AN PR0INANCF AuEN01N0 OFCTgN II ]p 000 OF n+E MUNCPAL COOT Ili fidF TCPM 9F VA8 BY ADfJW(1 14FLL WATFA fREAl1YFNT GAC[ITY• A/ A OONBITghUL UBE iN THE AGRICULTURAL AHO OPFN SPACE 3gNE OgFRICI. COP•a a Ira «dewloa M r;_.... r Pa1F ewp•dovl Y Yn alo d M Ta.r CLA romrl r+ykwe NeYrO W IV7OUCED, IIEAI] AA61 APR1f7YEU ON IlCUN6 IIk AOINP AMR Vfl4k1106 hAN Ib11ED 0Y IIILL tMIY Py W~ d? a Na..rrar. 5 W S, InwTaur vA[ K«F Il Ila•a Y•wp ATTEST. PriWa A' Two CL1 Pv4drea Y TM 4M iIN M Nwa16r • 1 W I Public Notice TB7owANCE N0. M /allef •I lwl AH PROaµkOF A11r110RYYi1 TIE FAEJw OF CEflTAIN PROPFRfY KkgWN 0a THE BEWiv CREEK ITN F[4dP PAR(EL Tp fii FACLE J,~lN11Y RFCHFATpH AU[ryORITY. CoPYF d a4l awww •n avJble la P~~ar,nknP ~ MY~. d~d w Tarn FLY R~ITnLTTf1LJ0EB. REAR AN6 APPFigYFB ON aECPHO gEA01H0 Ak0 OROEREO PllOt ISIEO BY TRLF L1NLY Vr 0W dq d Neyrpr, 1901. TL}YAd OF YAl K•.a R AaM 4gvr AITF91: Pra4 A I To.n Calve PrAMF,M N llr VV TnY a Fae..nw /. I W 1 Public Notic® PRDwAIicE NP. y BwAn• N /MI ANNVAl APPROPRiATIGY ORD1kANCE: AOPP7ING A BVOUET AHO Fd1AfaC41L H.AIf JWp N.,N 4lO APPFgR11AT10NS 19 PAY TRF Cc)9ra. FzPExSF! ANO LIABA.IIIFB DF YFIF TUWN OF VAX,. C0.0rieW. FOR IT4 FISCAL YEAR JAfr4ariY 1. fIT! PeptAPn OL COL. BfN ]l. 1W2, Ak0 PROY101N0 FOR TSIE l[YY ASSESapENT Ak0 COLLECTpN OF TONM AD YJtD0.Ed PROPERTY TMEa IRE FGH TF1E IWI lAA YEAR Afq PAYA9l6 r iNE 1 W9 FISCAL Y6AA. Cqr d tlIY atinvd N rnlbY b PWke rprdar h M Nd d M Town CYA snr~4 nmlW 4aanael FPwa INTRPOIY#0, REFS AJn APPLtlvFn ON SFGONO READING ANO UROEREO PllaL491E0 BY qRE WlY ar bW dq d llewnaa, I W i, FOYM 7K YAA. Kan R RwX Yalvr ATiFST', P•nrr A ' , Tarn {yd P,. _... r r/Y Ytl TN lbnalLlr 1, Iwt Public Notice IXIOYA11C4Iq. u FwY• M Iw1 AN ORDINANCE AU1LXDgl;wO IMF 14 i UANCE OF MOWN Or YA1L, COLORAJJD PM_E9 TM REVENI,E BOF1P5. 6E111E9 1441: PFYOYpYd TLE FqW, TENU4 ANp p]IaRI. lY)NS PF nE BW+P1~ neF MANNER uq lERUS OF 175UANCE, niE YANNEµ 4F EAECuTgN, THE YE TE•70 OF VAy4[Nf ArJO fiE SCCtJR1TY nrtRETCYiE: PLEOtrwq A PVRI bN of THE eALFa rM PRCCEFD! 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L.A a+r mti a Yr.d b . wLreranA. and iJrla pp.k'r5 b LM con a pr 1096 Br.~py q M P4JpXd Gave Ta F, Erns Ica dr Iwe Bab. ti Save /wraA era bpode a eeEp.Man wlvdl Aew 11wII Ilda p da....dadMad.ar«,.rwaM5W1 Brow. tti Tarl Ica r.ww wPyepJ FNr•TubMppraadA lam Wpor ydlh M I•rA 801 M PYdpee edw Tu may b pbiyd h'a, . W Mich Y etEr- ewr. b dr EXn Ica pr 1905 0aw drA eve puiry wtith 1M 1410 $pnde] IaMYIrY +15d Y~ Iwmey r M Derrr+'d d M 1wl;aqa d Eenp Lab 10w Ibdl. M Taw hw PNOpaJ M IIa RwnrAne awwFd 1mm 9.. Pa•,.rp Faeillw .M M r•«.6 tlyl 1ti Na Rnrxnn~ Ipippa~.e 14~P /awy1... AJ rid E'a'°a1eY b M paynwX d M Iwl 4arb. 1[ TM Tar Ir1e naAwi a prwwelOrmYy Pwdrr Ica M NcAw a aI• I W l Boras b M wFb• d earayrp N wdnr a n prl 1M rwr d M PrgaE E trots' Mr• k•erl peoaawl b IM Cats M Prvpwed Iwln d M b0ow+e ... ' M Pt file Caaraa; M Ae4Ybr Ap•rwa: ~ tlr Prdrawy OKW aldara. J. TM Town Cpr,el Y eo•kN a arkq M IWI /a,Fe b b rand d ameddn/ and dE.wrp M •v1a+a1 a 9y prm•h NwW ~ M IoM Mdn, W d pwtlil8 ••aary b M wY^aA ber•d, d{ h M nrrw h•reidw W bM .~ SECTION !. R•hRCallon. All eeNene hereldol• IWn Ina ncwNlNwl wlh IM po+Y'aralhYtrd'w«w.}Ty MTO'w~Cn. J w ww alla.r. a IM rewn b M arPOfa;o-l ad mlatTm d aw Bdr Tw a IM [kr9a• Ra.•n.ra, r pwAnp M Prged, Md b oMry W .f.,n~E No I W I Pa+w lo- arp•• purpnr rw rulra. NwovW Yrd ardmrd. BECTgN ~, Aahaarun d Ppj.q. TM Pn1W Y h•.abr pAYPne•d a • paN a ~ w• ^F Ir w~Ei~.~r u:~~» upcr pncf•dr a M IwI 0adyl. BECTIOM B Y'~ '. d Vie I W I Bads itrr Il• MI•ar tlMOriJ•a b M Mu•d [raf Ta~wl, b E• WfV^r•d •Town d Y•t. Caoueo. 8olb Tu Re5'•n5r Bp.d•, Sww lwl' 'n tly Ywrpde p:,alpd rlwhl. d 835z5,000, b b wr•Y• rw 9e1w+Al. epw . b Palloc•I and vA«wl, Irvin 0y Plod RwwrSUr BECTgN R 1411 Band Derain TM IWI Bartle anal b Yrnd n Ar1Y r•pYl«wd loan [La, Iea~N«•d Y b ha111 Pn' .Ve1 M-0 ~MwNU. YW b eyeed M a Fbrenb.l, rW l,.n•II b Y•uad N w. drv.MWyn d M.000 a .ny uyp,d ~ fJn lr.e.d 6vwy.e IM1a m 1 W 1 4ud mry h M•tfi wr.•b M wrI>oM oomnp M m m rtWaray duo. W w F nkrdwl 1w1 9..q n~F b vuad Ipl o.pi. urn nra>=ryl rod Nr b rrxre•rfd h eud~ a+• M R'4p r ref' dolenrw. 11re 1901 Bab ehdl bar irAOrM han Yreil eves dW enN nrlydy Y LM nl•e Per mYn ug5w1 blur, peyd/e wn.•rrnaaar m Jury 1 and R4n1ew 1 n ••ph Yer... a lull. 1. 19p7, rnp wa m 1w1 Bwd whNr r Ir- ewa rave Yww, ~'•'w a oP,p nPYOr nya eh•i • .. 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Ildb d rpdrtp~ Don aM1 b GAan a M Rpiar r ar rwrw d M Tout b •ard'r,p Y RaY d flxA nwu W or1R•I, fxn<Wa Paea9o papdd nr[ w nrr• Yon rbry ml 40d FrI OwIY eM prrp b tl+• nyarrp:on da•. b M P,xdr«, W n •rJt npnYVd www d rIr 1 W I Bard, W a II Pahae a ..rcA . o.wa r carer .. r hY rfawa ~ Y rY eppWa w IM rgatrdm nowde k4 PY M Pyyer. F Wan to pv eutl+ nplq by nrdup n ur r.9lp•'ae wow d +^Y 1901 Bad a b 6r Pwa.ya a, anY dd•a lnuwa nhdl I.p1 w.p1 me wkadr a m• pnpwdlrq. Ia M,•d«rnm a w.r arty , W r Bad.. 6aW neIn,l end iu.,Nr pa 1 W I Band' p poabn bar's n L lade•r11tl fl rw Yon J l0 W Ieaaan50d] Md IM da1• Ir•d la I•d«rp'yn, •td ahJ lusty p•le Ind m e,rd, ar M w+and arnwrd Ilrrlotl aw M drgrwri Prrruan a.poort 1 •nr wdr Ow eprr all' w~ di a M p+r.a AprA W u ~Aawved M.w k n Mia.rRx.o-dW +:1 b PYa M dndr a arh md.d n m. I.9"p•rod antra Ica Er ea•maa• nwrn l ep •pr••d b by M Prriry AOrF raw M re9;wr.d ea`Xrl, Nom• Irrhp b•n piwrt h Ur mu,rr 1 ~. p.o.tdad, M 1 W 1 Baba ^- - •o ralYd br ratlampbn NJ ..".__ drM ++-0 VYXb4 w M .,. ed. eo dwgW.d: •rd vYw 1•+erveeim Ma Mrrdr Vr«oa a M Pay41p A9frlk M Two ri PaY M prv pd a rd Pn^«Im at 1 m. l W l e_ _. a Bow. n aFd Tar SECTION R Bpecri Oda. M d M 1 W I Binh, bpaM rrN M Hwoa rrawlp tlMnpn, ehJ b Oarabr erd ooLcWM Xtl.y pa a Br PYd4d N•.fr..Xf. , .... w lw.hr i blJ n pbtlp.d: M ewnw tlwW nM rwl nod. b cry 4.rwd p aYwr llyd for en P•Y^Ra d Pn `ad •ntl vMrrl m un 1 W1 8ade. pop M ea«4nrd FP•dd Iunb Ned9Xd Brda; M M IWl Bab akal not pw4w M Yreeap4re•X r,a [ dad yen:, w '•+w~V d arrF XXV•~Ae dr.rr, eanuau~d r Wala'1' P'u'~Q` a kn9rQr; w. pha uyy !r cprr7Lnr.e a had n 4 prwa aa~ppmrr d r~A le.n; a~ . 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Eyeolaat TM lest Bab .Jwll 1» raou•e'n 1M Iwo. end w beNY d VI• Two by M ayllrlw d M i4Ya. •IW b e._, " rFh • rnrxld a fepailrie Lnpwedn d M Xad tl M Tow, eve alrted by M eyna Wr• d M To.w CJrlt Fats 1w1 HaW •ha b kY tlla mrual a~5rrhw d n rYlorP W tlfi w •npbYr tl M RapYVr r hr.irWlr pwid.d, Try fip.aaw tl uy YOYa and IM Two Ga.AS fray M by rtrlvad w loo- .~ eiprlwa TM 1941 BadY baarvq M uY a loons' r.41lawaa d +M dBwa n mE. r M I.I. d M •ttlnvbeeon ayl•d dv1 b M cold ud rNhp ebl0r+ara d Vw Two 'ubj.tl b M d aMrnk'aon br h. RpYuu u h«dne0w pP.;tl MI. na~ .nl.lyd.y M bloc. w dd.rr Yrd e.d g1m«a Yrralar a bloc' ba 41a1rrra tl M 1w5 Binh opal Puwla a uaher,P•. m a d d M panar Wear monad a Ie0e4Ma rprr eve.. +PPe+r wrXOn •hae Aan• •ar•e n ~ des: r•fpoain al'wo. TM YwlaX aM 0» Two 1 mn P~«Ir a a Y.. +441 fans.. ~ r W la " ' r•rPndM wyWwXa •rI(1•ui1Pw w•r.01 XfP'^r9 m M I W 18orw. 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N-... • r F.a•leei. Blawal 4•Yw pauAJAS axi FAOBdieE 9fA17 ATTEST: paArnF r Fawb•b 8pn ~J (Fed d Form d Berl Form ~ Glum Tlew b Pw d H BPtld aeEda ti H 'Boni OrdrWw, err q.w Bar hr bas duy raprrM H dpaMnt wwnd. hap a H , r R•aI•I+a W •Wt BaIW AFFLUTFp f91TIBNAI BAhefOfiNYBq, M Rgwr Adhrb•d Of a EnpbYBiri~ pra• d ! .. W RaOwurdbee: fEndd FvamdFYpae•r` Carlafdb d Aabrdewlbnl (Fpm d Mprlrrpa} Fa rtly I•o•iwd. Bn . J'w'•AY ••M. 77rw W brnip• ullb I H wahn Bar art Mdry "TMOMYI paisRdw .r q I•tW d rHWreaY,b 9dwlw BM •-m•m aab•Bwon in M prw~.aw. ~ was hr mw d Brea: BV+~run purrtlW: Addr d Trwlwd: Ymr E•any a odr. Aor h .... Iurbr d b•nr«M: NOYF: 7M pnara b YM As•epwmw n'•rr . am H nrl. M,nidrl m H Iwo d H wwh:,rpad H •wY pr1aW, rFna.n µ F•Iaefan a Mdredm•n! or any ehany wME«I•r•r. SOMdPrmd , ~nm a l nFr ophden cadlAo.4l iTnrF (K pptpNpO 1)pUN7Y pF Fu{pLF TpWN pF YAa. ll: pAt OPedlpa CER7PICATF S H und•r•ipmd Tovm Ci•Ai d H corm d Yr. M H Cd%eay d E•pY rd Sub d Cdawdo, do rrrabY oanEy thr H 1~ °.nB Yir opbeon a SMrrryn BNewrd. r lr, D•nw, dioradr: llnadrl w a Fqr andaU w d9Pa,Parbd ero arrpbb ony d • nwrriY are.,.' W dabs nary tlurM a fb ;n H IwaaM a H Town b rIry dloK ar • nwnu•Jy b~,~rrl~rlti 9Hf IM phw ~. dome W rrrron in d'•b ra[rlda, rr Bea tlw aPln'nrt rrA ad.a .ro Iwre•d r d H dr• d dw:l4d rw1Wr we Y or~r b H Bd~ed• a a+. dd WITNEBB WHEREOF, I Rdr• bWO•d b M hr,«,ep r eq r[.Inw ~Iwavrw .iprr (YwW FAyilraa Sprerv} Torn CIYM 1•ro d Fenn d lapel Op}ron CMA'IOaal 6£CTgf1 I1 p•BrrT tl t Wt Bontl• •b p'e- po•won a P19aw.b. xeeAn dm t W 1 Bad. nar• r°"e uulern'.r~ila °j~ ~r+• Tawl dl'~par. YandpN •Ar aa~ Pt• ly SVBpnd. l06a bawrwd r aIt• brr v Iran 9rrw b tire, b lh• Pe„aerr, m wasp d H yr••d Pwdlw vsw TM iml purr[ duY b d•awrwd m auN d•axnnray M H Prndewp •Ar d'rai lyul aay.x b dr prw.aw a s.alat a rrnr•dl: •ro H Rp.9r •JW YleiaaY nday tlo IWI Baa4 n a# error a iWrr •• N. PumY,rw uW Wad TM prma•aa d tln lyl porch irrdeWy wlwra IrrrdWl H waru•6 Ydm•a drar•or4 hall Od d•po•Md peomp[lY hT Ih• Tuwn Y.n.par bid •n.l M amaanan W ++ pu bF ._ , 9 rr•rvw •rr w haraby Pl•dpad dwMOr. bu tM Purdrrr d tlr• Imt BonN a i"Y sub MdwN wrnr b w mw..I cent a for Vu appiulon a awpw.l9T H Torn p anY ~m Mara d «er tl d. n.d. d«r.•a Lan dr n N rncna•d aa«•at d rrI'. rived h raaP•a d pw 1 W 1 Barra duF b a.eiwe b H Hard FwJ b b •Fplwd b H p+mri d IM lyl •_ . (•} M anp,•y word b i tl du «iFnr p:,epu .cord a fM }9pe B«da r d du dr• d :ea.l a•I,vary aMM M uW Ad b dr ilaasrw Fora f•I Al r«,rruey pmyda dYen 1W1 pad anW M a+•da•d b Vra beanwp .plat dnd Iabaral• accopnr, h•r•br ond[ad And ••IrblahaG b b Fromm r Vy 'Tawp d Vr. Coblaeo Bald T•s Rsrar+rn Barrb, 9arir 1001. Cen•tn Yrm FuM' b b• wdd. bprMr won avr dMr rvpirbl• morrya aw.aa. b pr Ina ooaL d tM Plcp irnlupeq poem blddwar b IM wYareM tl H r W l Benda AMr MYn4d d J aMY d h PmIwL a •IW •tlwuW FrwaYxn Inrda i. rn.dw ..,y bYnca b Ind CenHwaion Fund allrl b tlr>or~ud m H Bad Fwr •I+d alplwd b H oaYm•d d IM Pbaswl d ores aa•rre m H Iml 8". SECTKYN ,. 1.M a Yolt•Ya b hnanr Form. A bsonw FYnd. Sa loop M ter pad .rrd b 1,)utnaroag. •etMr s b pas .pr a iv-r•a. Vr• P4dp•d F(«mrvl•a aMl, upon rae•pl Yl B5w Torn. b dapoaAW b • •P•rwl rYtd ••PSrrE• •vrourA M1•rardan a••be art prs 1989 Ordn«n•. Freoat r tYr Rpm d YJ hemna Fwd' TM hi¢4rq P•Ylrrrraa dral b nude Iwo H Ymerlr Fwd: 0. pad Foy, F d, tlwr• doe b orwda•d Ieom Vn boom Fr•r b • lever onr•d W H Im9 dd'aAna• art hrrrm r tfw'T d VaE, 9Ab. Trn Bard Ford' H bew..p rero[rr: 1. Yel•r•al paYnwr YardY q H Bad Fwd .. H For eH' d dr Imes H dr.py a an d H Ba+Ie,,a.. ~ ~,mlM br dyaH rtpmn ana lwr nut a'v b H Inl .a.rar pary. mad dW d ry d Ilr. ldored•, wrs/rw oom des b bW, r rru.d m •qW rna,lYar brlalrrw.r• rnwwrry, bprhr edn any na.dy. IMr.n wr avnbbb dwda, b w M h•riY du..red arY•d• m H prwlarv.Ylp BarrJa en d4 Ira airway ••a+sr prynt«d dale. S. prverpal Pwvrtwd•, Nodl'y b H Barr Fu ~omr~p pas Yom fiM Gl' d ri• naYt .rdY .- .Hdrw.yaryadr Bonla,a .. mHrrr daYdH rrmh a4 Faae .wq pea b H Frd pnnpr PaPrwa drr d i^Y d tlw Bakes uRde•r•r dr• a YW. M anvaa'n a9rJ modNY FNwberda nrrauY. nOld'a aJn w'rY np«Y• tlw•b ores wrl~l• Ilrryla, b pr rld paYra'a m HadoO rcrt Prr+m Y Ir[Y, due trot 'dp+nd^0 Bald m H • Pd+rchnal Mnnwa tits.. 1 Radapn d Prynwral. 1 pa b try Y•r- aaoarrr+abl•aP wed WYmad '-'_, drr 1~ !s. anvmAaad b H Bend Fwd eve ~ ra .nrwi rrcw•ary b PwY dr nrN rrawnp Fn Werwra d ar:•rad a abripk, a 6•dt. H pwY•wrd Iwvmd n «.. fI} a la YwnrJl•r« w MW +nhl d Ihr prVrA IIw M alproPrWdy ndeprd: bd H IwAr+hwd monk y~ ~q.n IMF b• w a•dra n rudl .o ^9 an awae ndarad MYrrwa eua a pri,opP wYmewa ae.. TM r+mrYa r H Bar Fwr anal b Iew•d aey b pry H p.r Sand a. Pa pmn.rln 1 ry, rid k MYMt an the BPMF r H aamd bay yn• duo C. R•aarv Fund. Sawed. o•awpl r Mw•Wrar aowd.d, hpn ry ^p+ri I.Iavdp In IM Inwm• 6und [Mrs shad b r•desd n°KNY• b • •rp•r•Y .penal addend b/ pw 19W pre:rwlo• W Ynd+n r H'Iown d Vr iW Tr Aavar•4 parch R•••ra• Fuld' n ~:~ •rrnwLy any, Wia• k r•praarr b rraY'irn H erewnl rq W r HA Vt• Awan'A Rwwr mad a n pry IM sour d try Beta gaaar.• 1h •wrKwParr ry arw~+a w..ep b.wn ,..wr Pniry b d.l.mnnp ri~ima,n~p I.y„u.a b y. draanp M plr+val•d WO... H Tam ahJ r.-.i.. o-.aa ra rd 41Pw1• n du RNavw Fwd. Fn •r~ ~n0. 6n d•dpolla in IM RMdrva Furtl •hde a pt• R•a«YI Fwd vedl H aI+a4I[ M dapoei5 wont au Yro4m AuvKd Drnr Br. ~. Rwar•rerwi Fb pol n••db nud• b H A•••rew Furo w Ivy r H mart. Amya a Bar ISa•ars 4wwrc• paary secede pwl H Flr ~ ~ pra~mn4rK now'---- a H FuM Flwupam«K dW b liooxl•ayad and naadarlrl r . G9diruky rrr.• b b urd, .ra.P M Iw.MWIw pWbaa :, . p W F d mi Mabn W Boron 1p Mwa. my b pwv« ad,~.a• H pyxrwY d pw p+rn n4`r d W IM M«•r m H Bath I.r,v.y Aen H IJw n n.ae 4 ur• cad Furo w+ri. dra i•en• awwMp b qr~v,. ~~w d •r~Ywirta ISasaev. 9we•awa PWna •nr •.u,ep vary b au.dt w••« orb Yw Mmw d d+a Bond Rrrrw Fwel«toa Pploy. IM B•••nw Fultl Rp,:r mars alul b "... yl•d omen Id ra P'vnPr F•rm•d, bearer r r,l.d mrady a avan ma«rprr.,. n1 a....Wrv a Abdiudl Baa•. W IM dd••••rew d r a• pslprt a tlu Bab. b Bru a r a• paapv d et. nnn•n rr qwN b b eap>,e•d h H Rr•irva Fwd by H OAiWra, des rots Iny r rrY Yrr• a soma lent ponce. d•par • Bad R.rr.w Mvrw PeioY H Raa•rw Fur N hod v panW ara- Jactian a Iha R•wrv• Fu•d prunwnanl; P~ ~ ~ Bond Rw«v. w,.rw morn. KI b anY' m. r .hen Iru••a b b rnlhd'r«n dawn Ilan ce. R...n. Faro r pmrcd•d Mr.,,. lgal d•pwd a My Bad Rrav. Irwurrtaa Poky n lM Aar.rw Fwld, M Town may Ir la Ylararra b.ar,o. P~ ~Mra fia+arw Fora was wvb opal manaYl w reT Yrdd p+rpa.a I H mwnrn aaaywa b 6 ~m 1P.K tl Ihro adenareaa dpw nol Boer IM wi a dA m~RM«..~rmrw.~mYnan.~aw«y Fud F4prb•,rwnt H rrxinarm r+vrra d orooavda d awh •r;M a Bwra wh•Ae mar b daPONrd b IM Rwdw Funa px•uun m Sn Bon 19.K aAall6 dspwrd b1M 11aa•.ra Fwd won dr Iara•rKw d sude ww d Bono, rd Pbeye R•ewre,r•• aME b dapwF.d b IM Ra•rrra Fond nvMMy w and rq tar Nor r.•F c•1•rrr mandr rW d+da• d aorta. d wch ••n.. d Bondi, Ih. ~+wd m dapwil n H Raa•n'a Furo rnr wur H FYa«va Furo Rwub o. r~rralr Wan B•Pwib b Yrurry a R.aara Br.. w P.rm•d rrrw a nwd• W dr• Bork Fwd. dr A~.r.w Fund. a bM, a Ve• snnn•d n th Bad Fur w H wepevy b de• Ra••rv Furo Idr . awn r h..a pun b Gu •ncwK d tha 6,apa+r'rq @vdr, pan r 19 p+enpip•I ana nlarul la Ihd;r n•p•aly mnallua a m IM Town •AdV savor •nrwad 1niA~lvm b A nrld~'^d. 'noh.al^i •nY v prantim dun du•, a+d boA ao[mad aM era •bmad, M tah;ch ara• r+ttrsy'n are Yom lord vbiarM •rtlowi r L.r wwY b •wA plllapn W r Iwwnrr.rn• •w w e..d •a+•+r m w auNe r Ju sam •wn+•. and a^Y mxura n r. n«.a n aaa are bed. mar a waYee•we W Y••d W •nY I..W y.,.p F. p•Irnym9 BNvpuma•a b Bans a,d A•a•r.. Farb. e m nY rwwrwd nmWr F•Y- .wm dra IM Tam •nr For i^I' r•sreen IW b pry nip IM Bard Fwd IM bh .nye.y abP+• rpddb, IMn M krwd ceps b Par n+o V4 Bar Fwr pas •We ana Irnm Ta Raaana Frmp Meal b tlu db«rIp brwaan Vu um+d par rd H he vrcve w aFW Wtl- TM bnrwy w wad ahal b raaadd F vr• Rw.rr. Fork Iron H Yu Pbapad A•rwnuw +saarrwd M[r w rn raquuaa b a alurwa• rpa•tl W tM rragn, bd rnchrlrq a^Y MYmrler epuind Iw wny r W ordnda mFyrma; Po.r•a. howwvw, Brl h rwl a dd vrdwn nNetlrrr Iran H R•arsw Fork dew G dapwiad by dra cowl r, H n•s•rr. Fund no W« BWt Irr.n• Imnl• fipd pw data d ruck rlahderawL Y r anY I:ty des Trnwl •hd W try nrrm la: n MY lent dy R•••rrw F•M H IuY aml+N •ho.• rouWad Sure dt• Pbdpad Ran•rar, des OB«r4. 6r bw•n H arratw• Pit and H wrteurd •o rpw IdM ahnl w • Bw nw+vwr b P•id Ih•rwrt 11crtl H I'nl Firfp.a R•rwna•a lh•rrfnr mwrwd oar Iyu4d b b IpP1ad Nwrw• br ar a«aon bd wrvhdrly try pMnwnb r•V.L•d lu RnY .. d,+prena TM morrYa n H BoM Fund aced b H Aaa•ry Fwr ahr b ewa6 iolvYy Iv W paper d pry,eq eve vYtcpr m rY ridanplan pwr•um d wrd vra ul«•r ah~ b brM b nv.Ya n For Hw•nw Fwr prq For wrwl d w'M BoM Ra•anv h.Wrrrlp• PdoY •rry rmxb a"+V b rd w•uar wldarH Won d trr Bored RMn.w r[mgw r aM mrr Ile •rrreri q -e• Rwaw Furo RaaidrrW a~ ~y.d wYe r•ynl b H B«na b dd R~ir.. Fwr .e~Y b wrwwt Mwkrvn rtl uwd kd ref 4•hi wmwa; and Pewralad. rwlrrr, ay w.T nvwya n H Bak Fork and n th Flravw Fvk n anwa d a nae •rd Inaooreae prLcpl wr waned w •u1'•npeb b H arpanNd err,.rw d pv d+Ylra-ep Beres rl.y M I.w M pwwa r P~F R•bala F n%, 7hiN. t!I•r• •ndl M dpw'nad b • ap•pY •wnvR onal•d by H 1 WB Ordirr,o• rue Arywt r H "Tavn a Vr Baba TM Aavsnw Bond• R.b.t• Fund' annrv4 M1AUb•d 4 Sa~rt 1NIPl tl H Tr ~Odw b b tear ar •Wt Bnu M Ary darwd Iwbr• Pa1nI•d ~ nMa AniorvM b H R•bda fur aMl b r«•e W H pr.ue•• a Itahiet0 H pq+mlY b ri llrebad Brad ewp[r•d W Bu ~IdBPy a H 7.. Caa•. MtY •nnrvr m w. tl sous ewerb•d b b m daPaaA dra,a:e a' i•non laePl d Yr• 7u God• ahr b wYdarn W d.priµ nbH Ymrr Fur. Freed. H H Raba. Fwr der M M wL1as n H Bore oMCad bF Iles ddatrna b h •atrw and aNw4 an rgd'ad b b Pa10 n H B.ed•d ebe•. rr•rP,Y, TM robe m.y a..r ..F.rr. Avpunb n tM AaOW Fwd 'n .. .. etN H lower d AmnuW Banda _ d maitboryr Y~i•dq ~q~~ uaad by de• Town IwP Me~i d Nwrll+w rw1 M WWd pMrra d Wrr m rrr P d Ar[y avbadarr• 1•n dAgda. hrrlyY wArlava b b Wrd rd Mya9b from IM PI•dp•d Rwanwq Inalualny '111!11 byrga 3p L h . , ~ ~ M1 • M ~ I ~,,,.4,r., ..N,.,,a. - 's 50 2T,e rise "I?u1 -Nv,aean6rr 8. f997 Re(erencaa. CaU Eric 174-07n a[ler apatt available [or lao-e. ALL pus, SERVICES Sym. hag or long ,eras, 74-hour ,r~eae Call SSlfer Management Co. 476 REMODELING/PROPERTY MAIN- (0~. ^ At1to1110tIVe TENANCE •ervlrn. We provide high qualify work and Tellable wr- ~ Other STONE DAMAGFA W W D51 [lE[.DS via Far your wary need. Fstablssl,d in Va0 Yna 1972, wa apedalia+ In REPAIRED, Call Novw Mobue the anulkr rotecti. PWiaa mnFacr ALTERATIONS BY LISA-T2sb la the WindaNdd Rrp+k, ur youT Insuran- Wah grors.n $jq,1lB6, lime ro make sure your wlnier oe for rle,aits 943060, Rep.tr, don't wardrobe L up to deed CtsL •763a1i ra-(1aq. P for altertdaru or rsew natom made rM Aviation Rf1CKY MUUNTAIN AVIATION, 1NC., Flight knauueElon, alrcnft nnnlX psln fervim. Eagle CoLm Akporr. 9x63276 Alexander Kokes, Cfl. ^ Ilame ImprovemcnF WlNlxri9 l7OVEHINCS ~ Sake •nJ rn•ullallun o[ blinds- vrrlln lo-, plcald shade, drrPerW, air. Dis• caunl[d prldngg Call 14wkeye Scl. vim In Avon B1S~76S5. NEED PAINTWG 17ONE7 Contras to ava0abic far aaw0 IoM. Interior and exterior. Rsaaohable nles. a hing ~~X C C L- THE ~ LOAN The For c7LClustve homes up to ,yg,DDD,ooo -lion kite-ome veriflcaElUn -l,ow Palms -Fixed/AdJustltate rates 343-47 &3242 CaIE: ,lefF 1tot:tl ~mAC ~~,u~ 340 Malpage B 18>JB Vail 1~501't Rentals & Realty, Inca t~.r /ti.a M ] ~~~ 605 N. Frontage Aaac} Vail, t70 $tBS7 ^ hot(2graphy ~m~ hlICilAEI- C. RAWLiNGS riloTnc;RAPiiY - vvnat dncrmm- HEALTH & fallen wllh utlaHc lntepre,allon. 1'leaae eaU 827.5638. leave rllarage.. NUTRITION WENOY CRIFF[TH NUTRi7fONAL SUPPLEMENTS PilO'fOCRAPiiY. Weddings, Lead by the U.SDlymplc Ski Team. parole, ePedd wasp, eta CraaBvr Ecokogy sate cler ntng products, and profadeul. CaSi y7A7399. Haler?t akin C^n~ 5}uklee~ 01 oour.a 919 1771. r Storage ~ MISCELLANEOUS VAlL SELF STORAGE • Don9 t>e u•alpad Fa span. We low l.rga VAIL A~OCIATMS LIFEUME PAS- and 1ma0 atwaga units available. SES bought and sold Far the ptrson GII 9{4-1666, who has everythingl Call Merv INTERMOUNTAIN SELF. STUKACE Sl E 5' ' Lapin 17654Ei3. xeo- ram a4 to 117 x24'. Essy awYas m units. Very compel) rive ule a. 1-186-2011 Lcadvtlk. CONCERT ifAll PLAZA • 5toege Peter D. Winkeller abs w1lrlli. carrsT. Servln(( Val! Valley alncr~ 1973. doing total home and rnndonllniwu [elnadela and mAln lCnal1eC betYlCe. 6Y-Y WA.i.L Sl'ECIA1dSI5 Sox 4R9 tdtnttuu CD 81184tS 478-"3309 71t~4t38-0301 ~SS~~SSSSti STEAMMASTiMR Gvrxe Cie:rrq dart Fk .torY~alo Y't Drapery, Upholstery Oriental Ru0 8 Auto IntOripr Cleaning, Garpet Repair, flood & >"ire AASteraliolt, Odor Removal. 24 Hour Service 4711-1880 May we 6e of help to yule? . I-lome Care Rental Management Asgactation Management ,.. yrlur key to gualiry p*open]' TrtGpt({gdrritd!rlt 30314760905 Best Topsoil in Eagle Eounty. -- Exapli0nal quality -e Absolutely no racks -- 500,000 yards available -+ On -s7i3epor deC3iv(cred, 3Z8'6SIG Drylake Dirt Inc. 13ox 1486 Eagle, CO 81631 ~~~ ~ ;_-> Guaranteed repots far a traction the oust o1 replacemem. ~ 94~2Q60 / 5petiallring Tn 5tone Damage and Crack Repair tJp to two feel long! ~ ~~ -- un •° rAFF RfPA1R lnsuraMa compan~s pay usl ~ 7UI site cracks E stone damage repair ~ All work Is guaranteed ~ Moble SeMce 949-$734 T 0®j esigns by Nancy Rraoflly Cwfom Cabinetry Nancy Nyshom P O. Bax 940 (30.7) 47Cr211 B VaII. COIIXOdO BFD5B FAX (363)d79.91pB Take a modem stage coach to ewialauitie in Central C ay and Blackhawk. off Sea7on hates llntii Lifts open Luxury Limaeslnes of tntaado 476-L1Mdisd6W He never knew whelk hit hint. I '.3~~ ~~ - Yoe malty laved him. FEewas a tea[ one-man dog. Sure he'd wander somenmd, but That was pan of h!a mauvlinc churn. You wouldn't think at ~. havlnB him altered. You '~, thaupht It mh7ht chanBr hie '~, personallry. ' You were wrong. Dead wrong, Moat of the pets killed on put Toads arc unaltered maid. When you after ;'our pM you don't change his mmcullne charm. You allow him tolgnorr tpe urge [o dash aaoss that bury street. With the urges 1n control. he'II Ise happy [o stay home wt[h you...happy to De a real one-man dog. Eagle County Aamaae $he![er 84f9-4~9~ iww nhaa prwwl ra .-. ..b mM PUBLIC NOTICES ~ ":.a~r`~I : ~a a°"'°°`a"'° r. >rna whYr.Y d rhy tr "'°„'' n a 9i.an !r•wwry b do r N ~ F1wn prge ~ wdar b Pnra• „~•p b rwr r+q rvi.nd ~ k else d Rarlrirliy lyw~vw.. flew rwhhq merle hen a,rd hW. TM Tam ~ IM wrmwu rw.i,•d b a m.da a IhN rharher ~ ~ ~ n ~ ~ ~ ~'"` ^'4 v nh.. w,r m wa ra .awr.a w Lt v w ~ H°"+'9 a n: oro:+ane..tsa Prer«e er y .omrMl e'r°°d i6.oa9 •rr r laarl l5.o00 9rreb w•1 r,a 7wn hwn wdhariry h.vn er hour Fop v° Y•d•d ra a Pwid d na Mn rMn a6tr dnya, grab •al•tlad by M Tern err m~ seen, er Town aIW n.w.L a r..nr ' PaNar11 b W a•,WoW V a.lw 7M ardnanaaa, b M wENd b Wit slrwr for ~r Intl wk.lnlarr .1 d W InrHd wlxdt '"I rcI tw nwd•d dory aaa fk<I l•Y pear, nrurld• a ECTInlI l6. U•nY•! Atlrw,lµralbn d YO'Pt ~ err' °r'rra m dvpwi n r vN.rt M""'e 'OrO"rd 'n a Connrlael 6.rk wem,a Faaa TM ever. 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I•n] p Y d rla P ~ ~ ~r foetal or1•Ild n 5•rtron t1 oared wd nwA er flan d>• 5 Bann, Th 1o9t p ,d, er C. ... Far mated sarto. 13 '9"daa/ •nd ready aaavad .Mon 1M a' Mwaf aha G CPrnwdal tees Psldpb Swa 7.a bd er Ire) Band., n so- Y • beak aamra aaPl seer. -Id real teen owdanc• with IM ,ad V'nmanlr a lha 5995 Y outer auoour4 a Mod. d rr Two w vwl CIdnanaa, d^r/ annear r x•.vaana and aooour4 aoblr to tln PrPraa Frrai, dwlp ..ear rod weeders t.rl J i n•lad C,•rarw. Far w.Pww a bvrur.vwa d nanga, ~~ haraal p•rwea ~ °tl't'~' N ar u m ewer Y.n1 ap'„ e,a Pbdp.d '"-- Tea awrle fan "__-- ~ prop d mart. acoowe•d tw b air rao a .m,• anw b tlr Fan d Na Twnt 1995 Bmw, b aurrl boob I[neen4 Pwtabirq n dr Plnipad IMwaarabswtnMrara eery ahr lnrd•d urn.a4n v,ln IM P evisa yr tr 1996 tlA'xwKr, Na Town JW Id 11r Two b a wlalW W urda> C,tl,nYOa ~.pa la fn. daq aan.w. tessera anoa.d, err ~ SVdr bed d hrl it hnwvIr dM. d tlr f 996 Bad1 n wY F.~ aaeraa b tlr YJwI rla,d IFVind ty tlr Iww ~ Yw nod, ant Nr sod, p'aviann. mry ua P d 6 d YIa brr b M Nw,rirq d Prbta FwWa W oast patl N aW Ta.r 4 IM d p r,w a .. .od m wvM'w,ah+r p .roar br dr~Prroa• Debar wit yr ,eavaa+r• - ~~ d W ~~ an Ile I9 01 tlaita h IrndYinp avd, .taws Prdp.a sea. Tow d°Y" ~".d PrnPaar d a,p, h.+da w •aawda r yr hm.r ram. llr 1991 Baer aoa.uw : r a6h rd hM hit (W rp ,yr.w~/ Papa, Oaoh aaoaVn nalnd IrM IAn tlr dW MMr for Mon driprWd, anoap Nat Wrul fad, r~ Yclui.. f:1I 4nl wai IM atMr PbdpW ~"-'Vol wwq la rte Pbdptl Srr Tr. y due fha! ~ a &eurdy a SECTgry I r. addu9na Barn I h°a°°r.1M,l sod wmad da r,rd. ~ era. aw err n.c.dins t..:r.v da, -r'+°l~an. own wa.nw a twaw.r '~ par.. laahiq ~, dda aa:,.rra..raa a a,. C, Malnrd d Ft -'- F'Y nre,lya b er w n each • n.anaar r n V+.wf rw a~ ' ' [:anuraun F,.nd awy.d pawwe b 9ncmn 17 Mead, W M ^r^aYa r Ivry Mr r~ M rM Tov.,l tl add a arl ev..e. a air, '~~'~A' prbb hen rd am.raa„q . ir, I.brrn.a W s.ean ,. d rn. u.t.w.o. m.Y a wa e,. Plad9M nm.,,,... a, . wit .an m. 1°n d m. I•pI Bww. RM'aed.rww aarbry lnoaadad. xw•trd a raimrrad H M ,twn~w P.••,~n.a W Is.. swarar. r aL.grio,r tti. . ban aaaI;wtr aa.,a •.r 1,. prabla .dav caua0 r wM M aMabrrN r,i ear, b a W e w e r Iron PMdyad rinr•mw a dr% rear e. P•vr'p ^ PwJr„ d nnralLLw a+d wrArr rwYwr a 1e ° , , rra u, r wY w p a Saw Ww N. rasa. aw,narar wdardaaar bur,a V n 1 i •1 Ina Tawn 1-additional Plalpad - slrrrrrr....rd. dn,. +,..rrr ,.-. naa 1r cointlM vain IM argent wad tar ,n r.«„' pv~ tl..,.r.«n. ~.aw Pr'a wa...~a,• w •.w., e.+ ,m,wy. nom tlw 1aW Ln •aarnn S•owrlw w R...+a.a W add.bnr Pi.dtatl Pmrvy eda..,r a,<I, m„a. « au~r my.mnr r Ivd,rad r an iw,vr,.w d lnonar. b airy v~,vrr vitae a a..,wd r d ..ariiad a.r+v.y' 4r+d r. ~+'v w.a new. n h.. P°^ d +~ rr.~ hod. 7,r 5ac rest pope Public Notice ras..s..a .i w.. ...1 ~ I..ra= ,ew,.e ~,,.c. 10 vut ~ wl• ~ wi.raa. I nav s.r »h.~ 7+i. loll urm" ~.~ 'lu"-' ~. ~.r-,.r,_~. a. 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P+feM tlu Wdndleo w W arryl a9rw WTaP• Y Mrah Y au,tl Mr+ PM.•d Y,Y ar•ru+w. wM o•dr Y . .~ . fw TM brnl Ywa an6 Plw+on• d ry PYF P^NO+. w liao•aaaly a dwiabb arq d• not owx .Won. F.+aadiw\ a•+<n.. eaual w ~ • a dW Cafrad AM Na9~br ApalnrN Trw+•Y adr•ralM elaA M~Aar.i aN.9wrwn dr. Pb•I•Nh•d. nprWaadlM laG YnlMwy •y~i rpprnrl•. Ird Yr o,ali aaY F•ar irq w 141 Yenb w Bona E+unr; a w rra.• fwa, F•oiaa +awaygrn, •rAr,rwa, • •.• ~ ,...,, DFrFrew • r4 6n Pwdr• C 2 Ta a..biad b It,a Qdarrraa FddYarlr aWww w PITaa•• M Jrolarad :IVdr. ~=.~ ~ ~+ w ...r ~ a •a Y.d.na Nw.w AA•fwrrl h IY• h Fwwa~, propw:a w adrrd Ewah. d tln ad' i sECrlON 6 Th Y C , a .. l~ 1. _ . ~ : !onto d rr :.. pn.wrd b M oAn Carat d Yda PIIaYnF a•F old! aud~ d+ni0+F . n.b. PFnrdbd q PMtOnd+A d In• S+tiOh Nr Cr• . w~w~Y Irnbr WI. •rwmuw Irld daoYrw M Yr ad914,y r na0raary w ,~ _ • • • ~„„« : -. ~ ~~••••,. •+,••••• ' ' i•i•~ 6,r.h r In •.glana q w drrxrrwbw aaa lal r.r.adr:w w Yger w dlrurc• waF' a rr,ar4d a ' q w. +w~+•aawa M M ra..r ¢n,..d in .mrra wwrr Tw +. Main. adrr rd .+aw a a,. 7+wn d Y~.,r in. M.d. . I F•irr• r_u ,..,r, a/ Toaw[AJ Ir• hwdrl arq dinad•a b ario• irN M bw, F{Ma laa•d q Y'y Twin d BCCI rQ 1 l . u .+.•a,r rd 4.•.. M Pwd,a.. r +,.a w a^T w~lwd oy+id.,.a,n aA ,rw +~• _wn TIa ,~.r w +. rw,.r w a • r •~a w.e ~ r1~`n" r..r~+ • w A6,•.,+./ Y nwiW IrrWr. YFOIrON T2 EnriY d Drri F4f, d M r+W d Yad haurr. a+laa 6w Y_.r lr h 611r.t wNw 11r wm tl tl+BwN Ywr_ aro PaNabn d M YrA Ywdyrl Caen . Pwy+p h tla. o,dw,a .hY r,w .iN,c1 try 1 1 Ia1PU•V •.•,aa h Awnpy /inYIW M'•nr• d whM aW M Drdwa. rraY ' a'•f dory bPC+•d. ani' /rfla ~~~ 4aY d d M 6 rgWm N ooaaM A~ b M dladnn' "- ~ n+.,r rwr ean.l• ya ,«« ..,.. _ •-.- won... _+ w . r...r, loin .aaF A f , d PAno6W. 6 PI-ntrf d M p+iuFd d M d N ip9F Bor,dF M .. NwaYl. ana0 rwl W nrY M+n 9n arrw aM1al w rwrrla • Alrai pram I4a1 b a69'~9w PrYmhd anawR d M loot Borda Owlw¢ry d M lllr d 6n r0bpion d I,.dl NFnd, •rry . . ... ...... ... NYw rem w ... .: rrb a aY nhw d M Awiavr nprlad w nP•µd 1rYrJiJ.a F WY 9.99x11• aW w oay1YY Y nalur9y; w M aT•ndalCry al •dpplaarnlal •rdinanw; yy ra•rrabd. TA• I•p•at a any Pwaipn ly[L9YIr .. ~ 1a loll ', w ~ laaed•d. /1Prww. Mao w9na.A Yra rwl6an wr Ar+6y a1W rrd ^alra try Pwao, w rw w~ I. ~ . d YdrK N P4•nwr d rY reN d Bend blow erd eti awnw d Y d M dilano• Au'~+y n.rlFd a riPanadad uw• a,nF •atAlnrni d ldarlr m M I90s Banes rn9 141 Bans wr.rwl .n.r.d uwq' w.l.d. aa.A.,w.rd9 iwn Yr .n.w d PumAY : 4.a aw+wF4 aYtw w.+. sFDT10N 7 a,• `.~ Mw •r 1•L vex a n.e. wwl ar aa,n• a..nn. aW w pn,~: r p 1. M W,Wn d M rnlvll' d +ny 19Y1 . M bylaw. wd•rl. rwolEOr• rd war+rn•. ~ F Ya4db b P•rbm. 1 M Ialwl aI+11w +•ord alp4rnad q •e Ofll'xnnoa; b ' r WII Nwad, bsanylai hr•retM1 4• .rr ,w~. ,w_r • •ty r+.wl b mdw0 Y%RrEla d h6i p la 3 A gdud bn Y t!w Pl+br MawA a rtl wWrYrd b M uWS •n~' d wrA .. . . ~ • hr•wMn: a D P l 1 d 0 T INI Bwr4 Yq rM d YdaiW 9,araare. Or PdP ... Ponivn eMr•un: w Thr npl.Yr FY,aI M M oPrlnrtl q 1•ua• an/ la. tlr r E MMAa A+ wey.a„ w wrr~_.w>< • r r r....w. • rPA wr W . ah4 d a7 own T• druA hM dr W prnd~ulPwllmlanoa d Y S iAa tr+16w d a Tyn ap9n d Tbdpr d . w , ry . M n w .q. Pn 6nrod. d+arrda• rapMW. rave. • oo+Wa,Y• oorddiory, ap.•amanla and ~ ~ ~ b •,• EFn w PftlON aaYd J ' w NTTtDDODEO. REAP Ott FYIST NEADWp. •,N~ ~ • piwlaiaa ewAwy4hM1995 BwswN6i Or9narioa an Y Pul b iw 9ar1anlyd, oQwt Mal » ol 0.Ar itlue,nl,d6ra Pi'aiPd FlTawa d 1981 APPROYED MNO ORDERED POBLIB>•ED ONCE Y0 FDLL, Ni ON ory d Nawrlbr. [991. .rr rrt.nr nr r w.r w,. s ave. drprrrw _ Pr gapf+ A W 0 d Yi 9oMr raRivad Iw oonar+ b aud, w H ~ •rmnYa~: w A rwGc N•r'.q aMw b wd a w lah dq d Nwnbr 1981 Y M n W h M d a0o'r Te a>aTar wCmM1 w I au0161fw1 YW aMiu•k! FM~ nrb hw a M C6 in l • TY aalaYiI/RNN d Prioriila a19+lli•n . p r x~p rM Tonn.Card d Yr Yewr d VX ~clw.d.'. ar . ,...... r,a.w...w. • FW r an 1 9 lu l b a ~~~ ~~ dy arrr q ~ nirwd4d 1991 Bank W.,nd •r4 OuY1•nerp ar,tlw M ' Ywispl 8W11:q a M Tow. N ii rAFO n.,+ 9aan drn^ a •r Ter q M gad ana d a9a ONbwwi a liar+ 0. Ylr modfwibn d n od•r+M a~'V TS)1TT1 OF YAx K.n A Ao.w a ,~,., i rya.• w.....,,n.. bh/r w lwV . Y Y b h 41+A d Y pq` rrrni .. ~ ... r,dFr IM 9iard Imw•rw N• rglb tl IM ave.. d W Il,al d d M• 19p1 O d yalur IF• 1 .~~v..w r~u~,s. an P•9ry a. •Vrr0 auoh d11wF q IM Barrd hae.a, ti Chun d oar• q bl+Ar~r~r 9nn aar rp CaYr'aa d ry ,ralrnr. .. aTMeb rlarAbrFa O«P ,aio. rWlb. dNi~.gdb9lao- ATTEST: PanW A B'wdrry•r Tw .l p 4 i . ._ . wn rwrw, r.~ i [ p•al h 109rrapra PkratPr r,rwl d M F481 ~~ N•n lard , Po0/R CorFaulbl, w 1'r! agar rWy ' . R PW Wr6 h Tha VY Tlr u~l 3 .aaa .I r,a:,~,~ii Y! 8ECT10N 71 Ranwdaa. lAlwr d• NW naiidinlq a 1r r,p On 91a 1991 BaN. tbwr8w a lfY1 rd wninaFrr• d •nf arMl d s SECTON 21 11otKd b Bork Wuhr. Art in Bacon 9 `_- ,. Na 8err bnaar a P •wnwa d nd W NrN 961E b PardPd nerve wdr i•pw•d b G 0M•n b Ba4 Ywurr shall W 'n •niliq and a•rl W rpiyr.ad w wn { ldYlwlla 6lafaa.wA arn0,rn d M Waurd~~p Yw,aa, r • 9waa• Nrew, may Aaod •rd brlwoF IfrY ryly Ir.,,dw b .. l r . iaY. , qd ,o idi•~ ma] q Ba4 Y•u1r, Yu,wyr Bar wr bP 4lwrw ,,.:. ~..5}]19M ~+d, A„wrk Nwv Yp11 TDS01waa„d, «lyr ab j Publ c Notice ,r_wrwnw.r,._r,r.rwr,.r..y___..wia.... r.. _ ~ " _ . ' " l- ~_._~~ p ,,, a /P , p d_n+a nsl r1•n,.f rrrrdr,.w '9 A_a tiuf Boa l,w.w ahd muF 9r Tawn d h i ORDNAYCE NO M _ _ wwxew w..Yi_.. ~ .w .•:_r: r,..rr ry..,.r.. r~• r~ r... _..+..n" r. ~ ~ ~ ~~~~,^ M.dk . tl rrY mwrW. M 4 N wert.p. SECTION 3D. Ordnrra Aw . WBa o1199t IMi.w 'S1. Inl ~ ~ • '' •r pr °°r`•'+d "'d'aP P°'"^~d.r•w r i i try d IM IWI Bwod1 w•Y, f.p.w4•d w '~ ~~E AYENDwG OtiDNxICE - ~ ""' j'(o ~'"!Swq r r. I.. ,,, ..n, I r poAna Ya a wa•y 6rord•A. Yy..lfn•nld, tr ~pw9q Yr irrn Carrt1 b ad M ! 9 w•n ra.n efi DrdwnloF flW sardYaraaorrad t T NO. 39, BERIE9 OF 1999. AE7Ar•Ai TO 71tE TOWN Of YAIi, C,OIORADO 3µE9 7A1( . ~^'~rn~'w'n ~'~"',r',."'O W.~ _._,...r_.w.r -~.:. r._ ~••• •• •.•~ N. lruaW a wn ayr. Yai4 a IrY aar•Lr d uW mae M. Norm Nlu,d:y IM dr.••n dia oo u4 P,a rnw+.o d Yr 199! Yaw rv+e shall d.ra ~~ iniaalaall wtl W REYFNIIE BONDS. sFR~ES 1980. NOW 711EREFOAE BE fT ORDAHFD 8Y 4, '.,,.a o-~ws~a.'~- ~aA - ^ 1°;i° '` l^:; ; u„9a;~y, .a I~+a r eti Bad hrr« a wd h 1h • Yn I I b.N one iwar•Y l_wn ahq a far r,+, o.na.u.d w d+rwwd I.,.+, , rNr To+m eawcx o• rRF roes,! oc v4a. ~ . . ,., . ,.,... ...I ~~ r. Tn.... . trot •w 6ar,a w. . PaFiti a4rr+w Paaor _ aq aen• R..•rw Yraarw ~ . a,. b0,e Y.aw aw a.r 9r - ' -' P~ [4 'rpN ft. 8~p_rpn of g6rs \I,y aalww. r .aa1r q ba ca,r,a, Tlw d colon.oo: iFGl,bn 1. O.la.1w. Tw. u.• F w Pen.ro..w nn.. •+ n..,...o. ao.ard 'r r+r ir._Ar Iwwvb.r ranaa +» oar Ini d dr n..,... a N. Yaw M:.. rrw.e4aa •ro ~•awaa• Iw ay Town crrr. n w r a ar o-l.,.nw No. d9. 6.,:.. a 9a9 1M• •1999 ~ ~ r •ralVl ww. •. na+•ra •r a.., .wr b aaxl•Y,Id b r,.lrryn a v. Yana w. w \ N w 9. not in dYrJ it Y p. rrwy wr nawaa It. ow. Tlr .aeP+n ry P.eowin p,d b. aYi+rn4•l.a q +» rp rvolsae~n an.r•1.. e.Tw... slicTlON 9 Rrlal Pu b i €G Notice p ablplFew adr Y+ bard Ywa1/Nw Pda/ s 9 4 R W P 9 4 + Mr a b+ vayw. w Y.r« Y,e Tvn rH Ta.n ~` ~ ~ °i wnaaa d A~°aan . A Tha Tr.n Y • nanlaihl .... GWu w ..r» a.ar.s oy, r w o . n4a ash drew! q rN 80,4 knwar, Yn+•all•r tai aFCTICIr ?Q E6•ofw Oft Tly oraiww ' e9.naaa w w4.r N. Town. ~''a'np %1(d rM " ~ wa tlaww.aufa8lrY'Ola M [riiwHl+ Man orrv. - M wtd bFr~p d d Paww 71r iair• a lly 6•,e ia,a,/r a wn( 9+Iy1 b Paaa•d da1• !W alWl tr n M law and aNrl A.• Ipa Ffw Y ~°WOe rt>wl Ar•I ~~ Y ~~ •' . s+i• a Cabrada d N. D. Parrw b M 1999 M Ta_. ~'r"'0'+'rs"01""'r --- ,.ran MTumary lrwwnd•rd 9aYiiy for BIN 7AOf1>JC~EB READ AND BET FOR t'O h'r'I°f°'I 'wwdY Io&18w.da ` ,.err '^~~vn lanuaarw f+iunbPaeanwaeYday lYarMndar.liy lw+9a ~ ~~ w r Iddliarl b a'CI Ww Apia r PVp11C HEARND tlw SP dy a Fi0van6al, a C. Par.rlgM 19996Anrlw. tlr Te•n - a,YarYwd b a.u. Adaignal Gana. 1 sin.:. Y v.IT..r ue .m I r w weave,. nnwar rio le ~+,« I ~~ "3:; :C;'AL'4~6i li .. I';" a•Y b tlr BMd W wr w aww q 8arri and N. rrraFa d m r4ora q >^F wwwr Fnaa na 9• a.an.d aa..r a r salve ryN 1091. ADOPTED AND APPROVED Yw 5n dar d NTnrrar. ta91. ar TarM h Iha I6B9 OrelY,arra w ...L r o Th a I ,..., .. .. . --_ - y . SECTY]N 91. Oaiw Upon D•iax lbws ar a irPwW d ani d M •wd1 tl IF1rr M TTdi111 QF YAL Krd R~ a .:r b wa IIa. Y. e.Y. r. Fl.w~irF Bards BuYa k991 ltnF -1991 Bmd.~ M prlncJpal rma<d i2375.Dpp ly vriwa alaNaaal ra1Wa 1Yrra•rwaJai arava aa Pwwd b 8aalbll 7II d tlb CNrwr9a, M ATTEST: ra^'EVd paPwM •at • wu6b b oar M 7ayr,, b adlibl all da and prbP N AAnt b M 4 '~~ A &~~ fmui+on Fr 1eM b E•oYai I7A d Yr lo9p r_c«„ r,n.,... ,a. ~ r . a art m .ra b Yr 4•rrMll d M 1041 d ar d b w ~ loan Cho Y0n6 Odnalw W Nr Was d AddNwld . W W._ ...._.. r , . w 1 on . w aeYn . ar r p e l M 1~9914 r h~ au ~a ~E P 11rllf a . ar pa,,, a o r n , M O d i d Y ' Pedidad b Tlr Yr 7d ar.uw ie B.dwl 29S a In. 19x4 a` Trj a a red I •rwl a Par1r r A CN aa W aa4 1961 Borda pw1PW >• M aYwA 6- 9n N•rwrOw 0. 7991 Odr+rra. Nr Tar w9' amr,d an 1999 6• dbFrl[a aYY dy w1Mn wwr/ d Yw Batl R ~a~+.... ._ srlr duo Pgowda darhr Aa1n 1M Prdpr ur w WIwA M wire .vw«• Yr w l!.' a RwrwraF, w brq ay d 11r 1901 Banb i d M M d ~ a Vr 19p 6arr~ ~ r~ c ~ .tai over. rr. ,r, • ~al f11 ' " ••~ r ""' r+,n Fu w r a0hr r b p A(V 1•rr, r• Oewlrgrq w aara0. ah•7 d ' r Yw Bwr h l N drwA ,.aw Y ,a r trot d M 8w h.arw PohY. . r^" '~• ^ • r~ W~ ^ paA wn rlr 1Fae Fore w M R.arv~ iwr, pvlwJbYq bon. rwrAwgMa.t.• , { /~ i Pub€ic Nat€ce F. TM Tva d•Iiw q a+rr4 9•W9n17A d N 1998Ikd w g O N ,iIl Q ylry 4w~r,~.~ t, 11F • P~aru.d Y.r•:n, a,r rw•d b iM PlwPOa•• OR06/A11C6 Nun aar . pwm . eab B a •aaaa . Adeliar Bw,nd. uau A a Y Iwwn MM.. Y Yw snot. H Twr Ida a 4•rb• M 141 I .• w 1999 Oruban+ Md tln Bald Ywrw. wiwN Y r.r.~.r,r.-...n .w...,n • ldur•abpengad Rib Yw aard0n pe9rdd.M AY ORDiN,wCE AYENDIN0 ONAP7FR NIYrWuJ wldarMBard nae,ano•POIry, 1.1 f Bad i..~r abrp.l Y nr bAlalAd Y 16.61 OF THE YUNeCIPµ CODE OF TYE I,aa plr•w i11 writGn opnl+nl b •uaN fl,aaa pb'r•ie 91'I9aYeaa iii6i N• @n4 1ni`oo^00 T~VIH OF YAx W TkE ACDITILNI DF BEG C V a r..rna r.w ~-. u_.r w r. w,..r wr+. • a a.r.a. Wr, 1, FF, Hf Pdq w. l.nnp and • dllrif q Ya1 17aq Yrr.,. M +ww v Oran d rnl Ir 6ian T10N 10.61310, 6ETTN0 FORTH A DEF N4 TIpN FOR RANT PfIOOlCFB; BY Ti1E ADDF SECTION 0 ~ tl 8lcliar117A d 0y 19B90.ei^yw. TM IoiTwp alMwla Y •de•d 'eunr ~'r`l` u aa'•`aYM Pwa.rlt p6111 h app•9ra pM1aipr M~+^'w"+`e M 1991 B°r'd1 N'a^ 0raren6~ TqN 0F11ECf10H laD188. 5ET1YKiF0Rllt A DE pIHkTION FOR 'eBASONAL PLANT b 9.'.. 1711 FarMA.powdthi .waw.Md.M w. u FI1r do-,and b a'd"6 naq pwlwd q Acrd PkIOOIICT 811.4 WE59•; AYENRWO BECTY]I/ rb• w tln Brit ,ppy Barb mlA:np a w ana an}we• ur elpra d and aynwa s 10.70RJ9 OF Tlt YUNC W µ CODE OF THE dive D.o.rrea 1, 1966 +wa na b YAw iao ..,.. .•..-«.,,t li,iii .. },n•oanova A0vw0. SECTION 9R i 1 d RaplrYw r PaM'9 F'Wl N M+ p PM~9 ADra M 70Wk OF YAII BY FNE ADDITION OF PAilA0AAP11 T. BEASOIIAl PIAM PflODl1CT BU9NE99 AND 9EttTq FORTH OE7Al9 fl accoa•hralPAd:q Y,a Yabnrr,Amud Dra S•nar .. , w bop Y r dy 9n1a d Walr'v4 M Two Y ml h drug d b ('\ ^ + ~ ~'- _ • • 'Aa1Y pln.,r/ frarn.+dr an10 r•IIp1. w 0 M 5 a T bl Th W d + , fiE0AR0 TEREf0. ' obF9.e~,, 411aA• d1P,nuY rn>a,.r• b Sava a l •.r r,..,., i ow, 1 n•aana r ai a a •qm ,. ITnoi••I P fiq ABaa Nrr !roars YaaPaq WHEREAS, M Town card Y d M Oal ul Yrf IM Yrirrr d ri•6„p .rWn IrA+ a pYn d Wd;nu~w Na 70. 5.irr d 1499, _ .. 19. S?i Ird w bnq r Yr Tarin a r Mb.,a o1 w+rlwiri~ • 1 dp+4rn:g YMnr trr•adr.fw Tor,waY• an r, lb 0 rraYd b B ar w •aM 4 9 PwtP.ola w sa•ra,r hrY r an F'anFAdla oraW4rl aYliprtl b ^ apron a w .w._rw •••+•,• a fal p • a. wni w d 4y 1961 BW d Na adb•y Yai •ond9iond Win Ura Ha•vr 8nrriaa Saw• D+trM;w Horn bn Br W 145 flolda Pr+a+an b 8no- Ca Sd0Neur0a laa 70. . •a,1FF . ~••r1~ + ~ Ii+wrl as ay npWa6on yewdl •14aY0•aeR ww fytipw a Payiy ABrA w baA No YINFAFAO. OA Daab•r ?<. 1991YY n0drb Fd,rAA.d ngaSr a 9.a P1ww M SECTpN4 DIYprd Pp.ww TFn d6iara d Y T r a Y w ..r ,..r, .. ,.,.w wr.. v pnasian w e.n.w a M Nplr,r w a q F .. p . ow ty r rr 19T ra rdwb.d w d..ahd a uka r r:Yo-. worry p q Ypal•f afITAL P.riiq Apr1 nay W Neal rM a arowrw)• and rrealaw 1Y %*Aad Ew Wr a ' Parr d M ~ ~ FI IEFCi Y T b PRM.Y dlWaq 6n Pra.reo• d Ma -• ,~ .. ,...-1 w.,+ eai y 6 • s PMW NM ao.9 4 a M P Yoe w~nCwq a lr ~ al UM 1. A++i OI . Lrrf iE, BE R ORDANEL DY I1E Tl7hN OD1AaCll OF THE T0WFI0F VA4, dUDO THAT CO Qd:w,aa SECYIDN 0. Bwwabafry. 6 arR wr A Hai. i.a1 F Fat • •~ ~M_ r•••_~_ ~ '~~ 3 w1 .C W , M .0, an arrplaa 5 Yndnldad Ordb•1, Aawrr ~ d not >r Ivan 0lappp,pp0. A ahl M d ra¢Aad Ne Yr aan Y,114•ai a•r L : 9ECT0lla 1. CF•pW 1601 d M Y1rd[t11 Co6a d Yra Town d Yd Y t'w•Y rww•d b/ a+ aad'aY+, wobr. Ir•arlo.. 9Yr• er PrY d MY Q~ alrrr~oa nYM M wrY+aaa0r, Fn MId bva6A and lu~5p.nr1 shat a6 aa..+. npi, l,r.•lraiw '•"r"'u'9 P'airienl d M Drdrarnw Cu i -~ _ r 1,a a Loh R. Ral Ere P• nt pn ylep AFpp e Ca Y Y h T hd A 11 d 9.abn 106r ~0, Plan P,od~+la, b r•wd •I . aft b paarnd n Y Iprnbn b M •Pw/,a ~ - --, •,•••,^ '1'1fd •,•w r. rn o_ r •.a y 1b f wFrr.Y+naan..n..Yai,R.d+Y "^' 1' t 1 blow: awz76.wrra Aaaw+F' ,..a tanae.ra F•aFay.rra..,d.,.1.wFwYaPyd. dn.b .a ,wa aWrFUCnrw a Y.r.rt aw ,,,,,,,~,,,,,,,... • _ ___ ___. - ,.. T " . .- . a +rr ,r..eW. N kM. OFCI x - 6 t orr a wwaa W pW1 r•da p•aN.a h W+u,w wwW'^0 rdl H n N >s e u Ifr L,a~~rbeq w IrvWay d ary Fwibn ry r.•arw, overtax, dn«r w Pao d wi Q. a an Pa.n 1. aM rw.G. pril:y Pinh. Pwr Wray. ChrWmy Irw W a•r>raa a4,a• w PAi d Ni Orablrw b ar~ oM11 moo Inu•nw• 1rY Was Aluauaa Sub.•wa dwa. an.F ta.ny tiwana lab bald. auA naif aFa• m IfIwA. 91F+1, a Mafdra Yia wr..nw. 8EG7lDN 9 fr4'dw b am rq 9w l•gwn;by 614 w9ry ~,.„_,rwrrwrwrrrrrwwn.rlr__.ur a,r+~_.w_ y ___._._ ~ lnP PnwYardtlia Ow9r+,r .hl rW tr m Tir,•d b 4 o6•rati0a la IM apuslr . OMP4. fiMd MY Ttww, a Yd r wlabd ood• d w InraEr a.rarroFa q IM welm d6ECTOrdrMOanriy N,r MM•rwa A4•aiw~ A6 hrw, aa.ia „"- ~~ ti.%w~ ...--._ _..___.-..-, ~ .. rr.wr. r.,~S~ ` W 'Y~ pain Iaeebra. aanbnoaa, draw b d 061 0.. d Saahnla64316gr•adr•--- ~. 1•ae9rad •na . Pw IIa•d, b T 4wAAra ~r' n"~~ ~0`~'a,r .~ Y•.I 1. Frln ~ . 11 1711 &arw w IqY WaVMANUYI w iTaW. and M . t a11F Fnoldir a •^ rnaa 11 61.709 $•ronY Pqnl Preduoq B aee .a' rr w i ~YMM hwwrN w hw.by rpWd q Yr •WM ddY d wd .. ~ ~ ~... TM np•atar . •»-• T..1 ~ivt.lr~~l~~lriri•nr•••••••••" -"s- I". _ _ ,I l .. . n I Frrrca tllva• wpN d YJF Oid'+rrw b ary nr nd~.a a a r a l Wnw4 . .. _ Wm ban/ w Iwinw•hp niudl •h any pbM aF arn.d b B.Won Ilu1M A aMi rd a mn/.Md b rww ary t>,la+ wdw, r•Ikda a oliwrv, wwd lww, hrban ~.~'+.r`~.__T'wirw wrLiw~ r :r.,.'^w'~w""'r_ w~"..r `....r , A4~barY* i w'~f PgrA Wad+wl avow dy9 na ~, 6FCTAN 7. pYpomn d I}r4wloa TIrY ki..ivloAO~Y2i~---^~~~~~~w Il:l ..~F::i ..~'' Sn~`Z ia I~ 'ri .~ d Md DYdrN+o h dirt brri•r '^Y BECTIOW iT. 7MWrw. M qt•+a 9dFn. eParW fn r'r btwYOn P YM Iw rlrou NFn bo Parnb. n9l ls.owdA6., dpv Iaah O'6bwra Y Yr s1aPYd W Cau'rc4 rhd YF . , l ,« . rralAiora w . a IrrY Y,arad, w h ry eM yw. vltr,•w.r a aver plwl Ear meat PRW ... „~ I a~il~ i aw ~~ I m :~s ~.~ ,~., ~.;, ~ ~ ~. ~. ~. a .~ ~~ ~ ~ v ~~ ~ ,c ~. . C~ x (^ .. `. ~ C1 Q ~. ;~ ~ ~~v ,o, da ~~` y' ~ ~"'w a - m ~ ~ ~ ~. ~. _ ~ ~ ~' ~ ~~ ~~ ~~ ~ ~ ," n. I~ ~ ~~ ~. ~ ~ ~ 1 3 ~ ~ a ~ ~~ ~. N ,~ ~ a ~ ~_ --..~ , ~ ~~ r' `~. ~ ~ ~~~~~ ~m~~~~i ~$„ ~Q~gp~ ~ ~, c?. o ~ ~ ~~~ ~ ~, ~ ~;~~~~ a ~~~ ~ m~ a ~()~. ~~ ~i~~-r~,~°oQ ~] v ~ ~ ~ {~~ ~ ~~ ~.~ ~. -~ ~ a,~~~~ g ~ ~ ~ 3° ~i~ ~ ~ _ ~ ~,~~~ ~, 7 m ~°~~t7.~N ~r cD t+ ~ -p ('~ ~ ~. ~• ~ m x C L~ s~, ~- p ~~~ N ~ ~ v~ ~ • e @ +' wA...r-.. ._.,_ ......_.. .-._ - .._ .~ r ~' ' `~ • wJ8 77ee [4T1! 7Yn@ - Nalernber 22, 1 fJAt 1'T1W11 prcpfaus pngc g. LandacaPnp abrp IM wdh and awl Wo(nnY liras of Iho Cosprdl P«cal anal[ M rawwad by Iha paalpn Itwbw Board la Inwro F waada buffer area belwaon h arrd Iha aha prapalkre alwsg said Vrop«ry Nrwa. h. Tho Dosipn Ilaviuw Rvartl Mal rwbw tM arcnnenmd ontl iandlcapo plan turbot for cnlryaltriky with IM surrouMinp N•L I. Trn davbpw artd uw aJJaam prrlpa+ly arMn Map subrdl ^ iaridaups pMn In un use ronh d sM Coapnl! paponY to Ihr lJblpn Ylevbw Board Id rwirw.' J. For Iha papoNS of cakdalrrlp Glace IlW gynlul Fbor Are parmntW on lM Cgprill Pared, m cratlha d uY ktnd JowrkpWlp etaMl. msclrankr, sic). exoapt fa 300 Iq N. to ba adosvsd 1« each anclpetl {sanllllg apace, atop E• gNan, D. Area D, Dian LYOn Cannrdr SNa S, 1Te rlwNapar atoll aprae tl adYYUn a Erx low par Tawn d 4+11 clans«dc M IM ark d IM pano-aminrs d IM Mk .:. In Aru D. TM spacilk butbell«1M bw bra shall W mnualry plead to by IM Area D avnnr,rtdrw davrdpsr, Cobreda Dlrblon d Hynwayl and Town d Vail. Tin pus lane shrl M c«uulaaad aulMagl,lnl tv rM bauanc• d a bulking prmlq antl prat to Na 4manca of a 4arrporuy unillcrP of oocllancy for eNhu Ne Elewary addlfron, dike espancfan edudlrp Phrue ps. ,far dla:a eu4e;np, w puhlnp atrudun. TIn dwabpsl and/or owner of area D shall b• raapplNlbb Ior IIWnIPlmfp ills Mw uw Wa, pcludrnq crow nrnovr. II rM lane le nor maun•uwd groped! d snow nrrPrv•I Is nut Irluyu•I•, IM town w111 Inl prwr• bus Nrvll.• ro rrr b.. 2. Ina tl.vakp« shat r•br N Iha e.wkrp i>iw prh on Arts D arld prprks a raw Ekrs paN ..[Dyad acsosa IM Glen LYon Properly And CUGH property qr tlr davatopmePt plan br Aka 0~ ire pk• pain N+rl M caMUUdad pa lam d V•N clardsNa. TM biks prh ahNl be aVM7rllClw cubs aglranr Io ilia bWanp d a bonding pelmh and Plbl a IM Nauanoa aF a unY.;xary cenpruls d oolc,ancy for Nhar IM u.,.l u+y adanlon. dlla arpanalrm azcW0lnp Pr~avv 7A, oar cilia oulldlnp, or parking aladure. Such umpwary unlbdas al occupanclw ahaX be condhional upon cdtrrtrabn d 1M Eire pain pravklad for barn. Trw a4w gam wwnwnl sMll M prwltlw for nmoin. Tne alka gam sasem•r:l shoo Ua rPplanw one spwwd pl.lahad tram IIN Town Council prrw so rM I/seance d a lerlTlwary amliraw d omrpancy Id sober IM Orawary addillan, Wlica bparubn axcludlnq Phase U, aacl drioa buleirp W parkup stnrclu•. 3. Tn• tlewbp« shop undaryround me rburkN ul/ilib abrp IM ndlh cMa d the Gbn Lyon progeny Irom Iha ronhwaat carat d IM W open! to lne ronM.kr rorw+ d tM prapanY. Tnia ulu4y work ahas M oonelruaad aubaaquenl to lM Nwance d a huYJlnp peunl And prior to tea laauance of • lampdrary carlllicala aF occupancy for •hrw lM Brewal edtlkbn, dlka e.pancion, arNudlnq i'haae IA sad dlln bufbirp « parking drlydun. {. TM derafopN anaN M easy7ortalol• Fur rNOCrrnp IM 20 loo ulilhy ancanwm on tM wostem ponbn d Dawbpmenl Arw D u wee b oarnfnp aplNwa! Iran Ire 7own d Yw! la tM nM1OCa1w utllhy aaa«wnr bolas a bukkirp garret 4 I•basad for IM rlvuroar•rwry addilian, e. TM tlwlbp« d Il,r Olen (,Yon cola prepany droll rid Ira anY rorrnltllranea or prplel ^paVnal Ile lermtlbn el Y bla4 ImArovsmem dlalllcl or olhar tlnancinp nwcnenism approved by 1M Vail town Caurtcl ankh may ba etWnsnw Iw IM purpose d ouikrnq road krynovmanla for Iha Baulh Fmniaps Road- d, Trw .. , , antl gabs a Ike hydram per Town d Yr1 Fin lJparii,nm rgWramersta on tM nonhwWl pw XOn d Ina prdparly. TM spacilk bcarw tar Iha Ilre hydrant shoo rill spprovM by IM Val FAe papulmad. TM Ike hytlnm span bs plovkaJ eubspwm Id IM bcuance cl a buhtlinp parrnh antl plbr to IM lNUanca d s lamporary csnrhara d nccuparry tar tM broke! addkllvn, dllcs asPambn •acluainy Pnws iA. oar opka Wlldrp, or parking alrudun. 7. Tna dw•lopar anon conavucl a decsbrNipn IWVS alwtp South Frortupe Rand per tM CDOli accee pannil The dawlppsl shall 4lAmh plant Iw IM SpulFl Frpnla)Fe Aoad Irrprw•manN to lha Tam d VNI Enpirrasr la rwbw and Auprvrr r,dw• s bulldfnp parnA M rabased 1« ailhu Phac• I asdudnp Phw ilk II a Ip connruaion. B TM mnddbae lot Ana D b 8ecrbna iB.46.1a0 0, IaAB 2P0 A. S. FI( 18.43.210 D, t-7, wra aB!6.?20 ahNl M as lath b lalrkthw covonama. ubJed so rM aagorr a tM 7own AlrarnsY rid c• ao apPrwad shall be recoraea on IM IsrN records of Espb Ceunry. Tne dwrlopar shall b• rnpansihl• for sWmurn4 IM ywlmn arWdlana to IM Town Mlaney For approal bras a bulking parrM shall 4s booed for Ns Mkro-dewarY, o8b• axpandon eluding PMS• IA, eel olRCa Wrtl~ng, a pwkinp alryc[urr. 4, TM minor aubdNkan for Are D ahW Do devsbpad per [ha tdbwhp oondhbna: a TM tlwobprtwnl d parceb A, 0, G aM D, shah Ua rlnwstl ro IM SDD No. 4 der•bpmant Pier aM 9aernetl by tM SDP No.4 ordlnanw w approved 0Y 7M Town d Vau and ort lies aim tM Degartrrwnl el comnrnpy Ow•Igyrrwnl or r amawra .rid algrwed trY tM CommunnY bavelopment 0apurrrnnl, Planning and Ernironmamr Cammlulon, andlar tM Van Tawn Council. b. TM nkrter subdlvblon Pbl shrt InclWe a alal•Inenl Thal dw•+ap+nnl d IM lour !stets Mall b• povrn•d 0Y IM as>amwtl SDD 1 derelopmenl plan la area D and powmlrp pminanc W. c. TM Conv+runhy U•wypm•ul UaWgmem aril T awn d Vrl Fuorny shsU Mw Iha Irpht b revises and rquir• clNnqus In any 'Aprsenwnla of TananN In Camman', -Cpnvayanu of faaamed and Pany Wr1 AprNmenu', antl any othhr esemsnl or ownNMlp a IaslMnh ralarotl Io IM tlwebpmem d parwk ~. B, C and D to snouts Ihal ma lain pucds Ne dwdaPad per the epprwW daWllaprtant den fi SUD No, 1 Ordinance. d. TM aavelap« cMP G napanslde Ior leplatung lea p toil dairy uaemanl on IM wdan ponbn of rlerelepnaanl Maa D Y wag u oblainMp approval Iran Iha town d Vap f« Ne new lnruly •rsrnanl Wlor^ the minor subaWblen alai b racadw. My modakNbn a amewrMnN 10 4te rtanar ^uWivbbn cruWkkvy d approval agraelrod /hAll ba rwbwad u a rtnpr amandrwnl under lha procaduru wuined n Sactlon 74.40 d IM Tawn d VaA Zonhy Coda. a, TM condpbw I« ma rrlhp elAalVrbbn In 3•pkrl t/A8,2101p1 A, B, C and E, IhWI W sal 1«N b rrulnlra aerManls aubJsd n IM apprwal d Nye Tows ANwrnY and ono as appwad shall M raowded on Iha land rotas d EFpIP Caunly. TM dsraloper atop 7» Ia4POnahb fa WhrNllnp eM written Cordabnt fo the Tawn Auvrn•y Mfosa IM nynar aupolvisbn is rac«de4 on IM lard records d Espb CounlY. 10. TM arXka Alen Lyon Ohke Bulklnq and Blawvey Bulking cal a spdrAbrad and Mva a Ilya alarm dNPnbn [!stern Town d YWI Fka Dapallmanl sppraal 91 IM cprinkwr antl Ike alarm ayalamc shall be requkPd p•raro a 0ulkirp prink w rvbLed Iw Phase I azckklrq PhW IAa IL n. Tn• Oawlopar shall auEndl ^ aN a1 arnnaad plane b !M Colorado DMiabn vt Highways for nvlaw antl approval. TM rnlarWnrnla on COOH Prapany propasw by tM Omlapar rtwal rauha COON approval bNan PMw 1, skdutllnp Iq, II and III va gwsaatl 7o the lawn d Va4 Dryn ILriaw 0oard d Ihr appwr. 12. Tha eu1 4dkhp Indudinp Ike Iwo «rlpbyr dwrdkp wdw ahW be ooNlrlaaw wino Pn parking unrnun Y LuN Id sours NAS Bn srrPloyse unka era buW, Ia.ap 220 ErRMayss Hpuclnp TM davalopnnnl d SDO No. 4 wA9 bars Irnpacsc on avallaafa arrlploY•P Musing wpnln N• Upp« Eapb Va1by uaa. b order to 7wp Iliad fhb adtllibnr arryy;oyaa Mwyly [[sail. 4ta d.valaper(a) d Aroy A and D aMN gooks errglpyw Iwusksp m aM. TM Wwklparla) d Araa A chap bulU a vinVrr¢Im d p •mpleyM dwelhnp ends wNhr Area A WblMran Conckrtldum WShcrrp. Each artpby-a Owa14p unh In AIN A atoll Mw a mlydmam aquva kwlayP d B4/ sawn IaN, TM devalapal d Area 17 roll Build 2 «ryWyae Mratlkrp urNS b rrn Ar•• D WI bulMSp p« fM approved WaA Mr Ire Eul Bulmlrp. In Area D aM •npbyM dwNlrp un% atop Mva a minimum GRFA a 7% woos teN antl ms assorts amgoyu Cerellfrp un4 MaX Mva a rNNmum DRFA d 000 aquas tae=. TM 4AFA aM nunt« d elrploraa unto a1NA rid G wudad lowed Mbwabb rirnahy or GRFA for $DD Nv. 4. k Ana A. its GRFA and numMr a •rrpbyw dwedirp ergo shall bs r•sulpad w anploraa tlrrallinp uN4 Ip 20 ywn pea Ins frs d Tn.nY cMhun. Lowarunr (ram IM dated 1Lgd pnyiglr d oaupuX.y tw wM eras. TM Iwo anpbyaa dwrurp uniu h Area 0 ahNl M rNlrlRSd u ron7r arrpbye tlwrknp un;b p«rrwwnly, In Aran A t q lM IullorMnp rp7ridbM shMl apply b NI srrplOl'M dwalinp oohs: TM •nployw dw•lily unl ahNl not a bead or ranted t« any WriPd d bca Ulan 30 Cana•CVllw days, aril 1M1 M ndw, a ahMl Ln nniod Dory la tenants w11a ale fug rime •rlplayws In IM Upper Eagb Va1by. The uppu Epla Vriay shall W tlaarlwd rp Include !hv Ovre VaI1PY• Minrurn, pad CI91. iitlman. Ea4h~VaX and Aran erN (heir aunoundinp areas. A lull lime errpbyaa h a parson woo aorta an •wrage of 30 hour P+r week In Area A. a An enpWYaa dvrolNng unit b add, h shah Da wk only to ^ lull tine srrpfoyaa b the LLPP« Eagle Vasdy. TM sonar ahalE nryupy IM un1 « teaserlPrll as Por ins lagdramenla In fhb aacllpn b Alar A t 0 tM art49oyr dwNlirp unh shoo MI be drvidad iota any twin d prlwchua, ktlervr ownorchy4, or frec[bnal tea ownanhlp. A dadara0an o! gavenanq and nI[rlpbnc shoo M libel on record h Iha Ohba d [M Esgl• Cvumy cbrk see Wwrd« In a loan alpruvw by the Tam Aaomay 7« rM taarulM d too Tawn b ancrus Nat Na rrulpbr [kiln shall tun wih 1M mrrd IrMwa a butairp p«rtal b theta Ivr w vcmuuzsiwr d ur• emdayaa eras b Mlh« Area A or Are D. ' 1$./8230 Trine Raquaerwnu 8qb Na. a snap b• gonmad try tM prrrwdurb oulilvad In SMbn 18.40.120 d ore Town d VaX Munidpel Code- SGCTgN 4 p anY Pan. sslaion, auuaplon, arntanw. dauw a phrea a1 Nb oNlnana b for any rerun bald la M IMaW, such dsctrlon Man Ile avucq Bt• rrldiry d IM r•manlnp ppnbns d (his OrdLlann: and Ins 7own Council Meshy d•daras k would boos passed fhb «dnana, and sAdt pan. aedbn. aublsdbn, asdar4u, aiwN « phrua N«eol, raputlbac d rh• tad Thal any one ar moro pans. arotions, arrhaKibrN. aan7rnrns, Wwr os pMrr ba da4lvad lwNld. SECTION 6. TM repot or IM repot and m d any pwklarw d tM VaX Munkypa] Cads as pravlde0 N this ordinance lhah rat shed any ryhl wkYr tips aocrurd, any duty krlpoae6, any vbIN10n Thar ocarrotl poor b Ily •S«#Na dra Mred, any proa•culbn mrtlrrwraud, oar any slot adlon w prfarwedutg r .. ,. J urtdw «pY vytw d tM prwblpn rPpeabd w reparad and raanadad, TM rrPaal o! any pravblort R•raby chap rot rwly any provkbn or any wdinanw pwlouaH rspeawd w superaad•tl unbar aswbaH a1Ned Mrsln BEf;11DN B. Atr bylaws, ordan. rrolutlona ^na ord+nanws. al puss IhuaoE, Irtcondas•rd h«releh era Mrahy r4PaNed b IM ar«d only d loch hponblancy. this rapsabr sha4 trot G cwNhuatl to rats. any bylaw, cedar, rrdusrn ar aldkanw, IX par! IMr•a(, Mrralwa r•pwlod. INTRODUCED, READ AHD PASSED ON FIRST READING AND DRDEREp PUBIISHEO ONCE W f ULL aW 191E daY d November, 1401 and a publk Marlnp shall to told on Nb wdlnutoa on IM irtl day d D.centb.r, E09f r 7:70 p.m In the COVnCN Chwyb«s d IM vaG Munk~ial Bulltllrp, Vail, G9aado. TOWN OF VAL Kent p, Row Mayor ATTEST: Pamab A Brartdrttrryr Town Ger4r E%HIBiT 'A" KDELBEL PROPERTY pEVELOPMEHT ARCH A YsA•floe - I2.a7a sae A pan al IM 9W U4 NE J74 d Sadbn 12, 7ownahp 6 SouN, Ranpa BI Wrl of do srh P.M., drottyw r Idlowa: Beplnnlnp u ^ pdm ors lln Wwl Ire d oak BW 1r< NE 1 yl item wnkh tin Nonh one quart« corns d oak Ssdion Egan North 0 deprsss 16' Er[ 226948 lea; rMrKr Nonh 0 tleprar 16' E W, alanq sal0 was Llrn, 452.381•N b a pilot on kM 8aulMacnny ryM of way line of U.S. Hyhway No. 0; thence, abnp aid Sor y I hl of way IIn1, Y felbwa: Nonh 62 rasa 2 EuL 102,37 IoM: NMh 44 deprar 20; Eal, 679.37 feat; and Nonh 4a tlprer e$ Ead. fi4a,Op FrsW. rtNrs «l~ee, to • pawl on 1M Nonh fine of acid SW v4 NE Ivy manes Npnn 86 d•prer 33' Ebl, okra IM Nonh Ins d cold SW U1 NE. 368 IueL moo w lase 1o a point an des pent«Ilna d GaP G•ak; th•nw. abnp the canlelkne d Ga• Creak, u 1olkvw: SarN 38 dapne 19' Wash 101.04 bu; 9adh 18 apr+as 21' art 6108 fats; South 1 daprws 24' Wwt, 2M.D2 bN; south 12 0•plssa Id wrh Ip02/ (MI; and Sack 28 dpnw It' Wbl. ga29p Ice«. trr«K.a Sato 78 d•prew 16' War, 7084.70IPN w Ilk pdm a 6epbnlw flor Pareaf - 7.740 acres A uacl d Carts slluNw b Iha Sw L4 NE iN d Sadlon 12. TP 5 5.. R. B1 W., d Na 61h P.M., Hlnp Soulha+H a1 mN cenain vad d IanO darafbed h sock 1pD, Asgs 197, Nonhedy and Westerly of Ns wnnd{ne d Gore Creek, anA iYinp Northerly and Eaalerly c1 Nose eosin bane dwerl6ed In Rode 21l N Pape 106, Book 211 N Papa tOB and Sock 21b N Pepa 365. d••nhetl u Idbwa: BepinnFnp at a pplnl on IM Nonh~SOUIh camatllM al aPid Sadlaa 12 rrltallG lM Nonh quarrel Wlnaf d said Boston 12 bean N. OB dapraas Ib' Ear 2269.481ed; (hence N 75 tlaprae4 15 Eul 346.26 feel m tts Puce Pdd d taylnrlPs9, oak pdm bNnp on un Souih Ina a1 that Va.a dwabad In BPok 198. Pap. 747 antl wNch boos Souih OB dspraea ;t8' Eut 2203.31 Iwl Iran IM North 4u«ISr mrnN d oak Saplpn 42; Ihsnoa Nonh 76 dapra•s 16' Eul 717.81 lass along N• BoWhuiy Ana d Ina! van tletnged b Sack 194, Paps 197 to Na tartar d Gora Deck; palace SouN 2/ tlaprra /t' Waal 190.81 ipd 111or1p IM pderwn d oak Creak; (traits Naulh OS dopreea 24'30' East 704.60 feN abnp tM pntwpna d said Cnek; thanes Souih a9 tlep»w 2V Wrl %.601ae1 abnp 1M Dail«IM d twtl Creek; mMrc. 9odh 22 dsprsb 2<' Wrt 72..47 aaa abnp eM udsrplw d oak Cr•pk; Nsnca South W daplaaa 00' Weal 119.31 tad abrp rM uru•rllts d sold GraMl; b lM Sodheaal carat d lhr ordain volt d Ivd dssabad h Book 211, papa 108; 7ltarre• Nonh ST d•gr•aa 1030' Wwt 110.121•a sloop 1fl• Ebs•dY ire d that San de.crlbed In awk 411 r Pay 1P6; Hence Nonh 67 degrees 42:q' WWI 769.88 hM abrp gre NwMasl«ly aM d NN van drerbetl h Book 271 M papa 108; Mena North e6 dprar 0730' Waal 162.42 Ica Wnp IM Nodhuiy lira pt 91o1a dada dwa4aed ta Book 271 Q Paga lOB Sods 271 N Papa 106 b a pots; lhsrtq Nonh 32 daprwa 6T30' Wrf 78.0~1WS along IM N«Iharnrly Yw d Na hap tlrabad b Sack 216 N Paps 385. to tM gild d beplradnp. HaaM Parch 7280 atrq Candy d Elpb aM Sw• d Calorsdo, b wk: A Van d boil rhuuad h IM SW !f1 NE lY4 d Sopron 12, Tomwhlp 8 Salah. Range BI wort os lM 81h Prindpal MMidlen, tlescrAw w foliovv4: Bep3nnhp N • poMr1 on IM raonhSouih wnnllilte of uk Sedan 72 whams lha North Ouarta• Currnr d sek saclbn 12 sears Narrh 00 tlg71ar, 15' Ewt 2289.46 teat; IMrlm North 75 tleprer 16' Erl 316.26 IeN; thane 98urh 32 depraet 6T30' Eut 76.08 lees; [tons South 11 aapr•es 00'30- wart 279 w face b .paint h tM Meter of Cara Creek; ihenw Nonh ill depress 37 Wesl [11.91 lest .Ignp Iha cMrarlina of id uaek; Iharka North 38 tlepmea 40' weal 234.04 lest along IM amadine of crd cook; [bona 6ou1h 76 depraea 35' Wel 84.41 (Pet abnp the C«tledb8 d ask ark Io a pilot on the Narth- South pnlerlina d oak Sedan 12; thane North 00 dapror 75' Eau 13.91 fea7 plortp the flwsh~3odh antadine d u3d S•abn 12 to IM gild a IleginNryJ. tar • 16.e20 acres. GORE CHEEK ASSOCIATES PROPERTY DEVELOPMENT AAEA6 S, C A 0 80.700 acne Lspr Oaawlptbn: Ak thou Part a eed;on i2, Township 5 South, Brings Bl Wet of pre Blh P.M., tlralbed u fdlwn~. All that part d eM N tY2 NE er1 d 6.pfon l2. HLp Sodnady of ttn 9aullwr7y rlpM d way yrn d U.B. Hynway Np. 8 end NonMrly d its Soothed! Yw d sold N tv2 NE /N. r shown on 9+a pal on fi4 h Nag oNkn a ma Eapb Cooing Cielk aM Aecordar u Documalt No. 97/89, dwcrbed as Idbws: Bpindng u tM hyhwey survey monumwr at lM bl•napbn of IM SoulMny lira d srtl hynway and IM Eenrry Ibe 07 std N trz NE 7K, arl7arra tM Nallnaat oornN d sold 8eabn 12 boars Nonh 0 9aprer BX Ww1631.785 fah; tltartca South 79 degrrr 28'30' Weal 1112.19 fah song IM BoutMdy ryhl d way pro d wk hlphwaY: [tons Sadh 70 lNpreec 91• Wrt 125.1D INt [loop the Bouthar;y Hyhl d twy Gna d aril hyhwey; IMrlw South 84 dagraw 23' Wrt t00.Tt01pN sloop ma South«ry rlpM of way pro d oak highway; Nance South BS daprar 5a' War fOq.00 bs1 abnp Na 3alnherH pea d oak Mynwey; thallpa South 82 dapror 13' Wet 100.00 isN ahoy tM 9oulhady d9M d way lira d crtl highway; N•nas SoNh SB dapraes 10' awl [00,00 bN akrp tM Sodh«ly ryht d way Urn d and highway; 7Mnca Souih 65 depress 05 Wwt 100.00 bet stony IM 8oulhNly right d Way lira d artl hyhwey; 1Mnw Somn 51 tlaprar 77 Ww7 700.c8 Ipa along Iha Soum«y opts of key /na d sak nlphway; manta Bauth 47 defiler 6r Waal 232.581eN aknp fro SoulMdy ryN d way irk d sak highway la • pilot on the SanMrH 8n d sak N 12 NE 114; lhaxe NMh 88 rlegraes 33' EW 497,67 lag along 1M Southerly IIM d said N l2 HE 17a to IM coma d IM NE 1N d sak 8sclbn 12; Ihsltca Nonh BS deprebe 33' East 7574,15 Taal abnp the Soulnarly line d ofd N 12 NE 1fi So 1M Soultaracl turner d said N 412 NE 114; [Moto Nanh 0 daprecs 03' Wbr 760.95 INI abnp IM ErndY 9M d laid N lY2 NE an W M hlsmecnion with tM Southerly In d aWbhiphway. IM point d bephnlnp, All Nr part d tM SW 1yf NE 114 of Sedan 12. Nlnp SoutMrly a1 IM pnt« of pore Creak u shown vn lM ply on lib !n IM dike d the fagla Coumy Cwrk antl Recdrtler r Documanl No. 97489, OasnBled M ldbws: Seplnnllp r [he Nenh•ayt porn« d uk SW 171 NE 714; IMnw 6olnh 89 tleprasa 33' Wee113Y.67 IsN to a point In [M center d said Gsak; lltarxw 9oulh 40 tlprsr OV Wwt 94Aa iw1 at01p IM Cannf d oak Creek; N•rvw 8owh 1/ depress 21' WMI W O6 IM[ Nap pt• ry«t« d sak Crsak; tltcrlw 6nnh 7 dsprrss Z,' Wscf 205.02 tar along IM oMl« d caN Gerc; 7h•rtoe South 12 d.greet lb wrf nD.2s IIM akap IM rww« a oak Crash; rMrrC• Srlurh 29 daprsr /l' Wrl 320.00 iPa; 1Mnp South 6 daprar 24'30- far, c70.001eN alorp IM cantor d sak Crack; lharsca Sdnn 27 degror 0002- Ww185.21 its None tM antsy d gab Leak; [Mrroa South !K degree 00' Wssl 259141st sloop lM unlar d said Crrk; N•nw Soule B5 daprar 9c' Waal 709.62 twl abrq IM Wn1« el sak Creak; [tone South a9 tlpra.t D4' Wwl 188.13 tad abnp IM oMt« d said cask; iMnw Balah 85 dagrsw 2Y W41 H BB IoM alorp IM Oarltae d erg awA: 1Mrlw North 77 ttapror 3B' Weal 2840 fats abnp IM pm« d acid cr•cll; (tortes Nonh 60 dsgrwa 17 Wrl 190.7D laN abrp prs unto d Nk cook; [hang North % degraas /0' Wrr 239.x9 lea abnp 9n pour of sad crack; Iherrw Souih 78 tleprar 36' Wrt 84.91 lea aknp IM Donor d oak mrall; m a tads an ut• Wwtwry am a old ew rye NE »a; tllerlc• Satan 0 4pnr Ise W«, 461.90 bs1 b IM boor of Nld Badbn 12; Nr•hw Nadh a0 tlapmet 02' Ead k3B2,86 lest song IM SodMdy Ikne d sold 9W Uq NE 114 b IM SoNhaeat caner of atdd SW 114 NE 114; [Moos Nosh 0 depress 08' Eas[ 1364,32 tar abrp IM Eas7srly lino d said SW 171 NE tr4 l0 1M Honneaat carrot d soh SW Ir4 NE 114. IM pilot d Eepinnbp, ANO 7M fdw lq SE 1f4 a Sxsbn 72, Towrahp 5 Swlh. Aanpa 8I wee a rM 6th P.M.; AND NI Nu part d me SE 1Y4 NW 1!/ of Sepion 12, Townsha 5 Souih, Rerpe Bt Wr1 d tM Blh P.M„ lying SouNarly d tM SoulMdy dpM d any Ilne d U.9. Highway No. B. r shown ors tM gist an Ira h IM dlka d 1M Eapb County Cbrk and Raardar u Docunnd No. 97489, drabsd Y fokbws; BPplnnhp N IM Southear Oa111N d oak SE 1/a NW N4; [hake Spuln B4 dsplsaa 02' Waat 83695 Fast stony IM SomMny lira d sold SE 1!/ NW tf4 b a poke on the SoWnuly ryhr of way Ilse of fold hyhwey; [bona North 52 dagreae 35' Eaet 1057.07 fans abnp IM SodhedY ripM d way GM d wk hyhwey to a pdns on lM Easterly Ana d oak 9E 7A NW H4; Ihanu South 9 tlaprar 16' Wrt 828.2E foal abnp tM Eau«H Gns d sak SE 114 NW 171 eo tM 9aAMae1 mresr of oak SE 171 NW.1u, the l7olnl d BPplnning; EI;CEPT THE FOLLI]WHIG: . qur Pan tlwaLed h Book 7116 N Paps 615; tlsr pan drabw h acak 191 N Pape 211; - Thal Pan dPep4sd h Beak 203 m Peas 231; WN pad dasabW h Book 263 N Aapa 531; Thal c«laln kiand adJawd to 1M abatra- d••ahrd proPUtY, and beta 6t Ih+ ntkdn d ptur Gawk, wllkh [M Irullw nnentl to exclude Irom Ihla 7rNtNnlon; Caa9y d Eap;r are d Cvbrstlo ALSO THE FOLLOWING PARCEL FORMERLY KNOWN AS THE 'COSGRIFF PARCEL' A pap d lalttl afualad h ma BW lfA NE 1k 01 Sactlon 12, TowrNhp h Souih, Ranpa Bt awl of Na 6th Prindpr Melldlan, lying Nanhwasledy d tM unlerlVM of G«r Gaek decdbed u Idkwr. Bepinnlnp al ^ polo[ wh«ta [M Nonh Ouertd Corner d oak Sadbn 72 Eava Nonh 11 defiler p3' Wsst 2282,72 fad:IMrtce SouN %deg eb 02"JO' East 99.60 feel; IMnce Souih Sa degraea 42'36' Eau 169.88 lest; [hasps Souih 33 deprer t63tr Ear 740, t2 tea b a point b rM center d aid oak; shank 6otnh fib depr•w 3a' WWI toa.62 IoM 0.bng lee oenlarpns pl Blvd creek; mono South 69 doprer M' Weel B0 78 fed akyrrp the camPlline o1 sa{d creek; (hence Nonh 23 tlapreb 1730' war 9t 7.54 fad to the prim d taepinnhg, comaining I A5 saes, more w bas. AISD DESCRIBED Beginning al a point whams IM North Ouaner COrrku d said Sectipn 12 bears Nonh 11 depleb a3' wool 2292.72 Im[; IMnm sodn 95 tlop+eee 41'14' Eaal 39.84 lest; IMncp Souih 67 degrees 2830' Ead 169.48 Isel; (hence South 32 deprer 59'30' Ert [47.47 last b a polo[ b IM onto d gab cook; (hence South lib depraas 35'38' weal 109.82 leer ebng tM anlerline of sad meek; thane Soum 69 tlsprer 01'33' Wbl to3.p2 tool abnp IM cenlerFlne of sold nook; thence Npnh 23 degrees 24V9' Weal 319.09 lest to the pilot d rayinnhg. 70GETHER WITH an eacenwt r drehed Yt Do vrrwnt rac«tlatl Avpuat 5, t4B0 In Book 308 a P•qe 443 and recrorded kt Book 307 r Papa ee d Ina Ea96 County rwxda. A130 including all water and well rlphN appuMnam to tM wbova deaulhed properly, bdutllnQ whhod hmita7lpn, Wsp P«mh No. 91702, weal rym. deuewa In CMI Aalan No. 2375 In Eapb Gaunly Dk1rkS Can. arts W 7Mt pwekxt d water ryhta dxraed b Casa No-. ab CW 410, blazer D"wirbn No. S, JGoro Nor. 1 Wei - o.g6dal Pub/altatl In The Vats Tral on f - . , 92, 1447 Public Notice ORDWANCE ND. 42 Barba 47 Y49t AN ORDINANCE AUTrlORIXWp THE IS- SUANCE OF TOWN OF VAIL, COLORADO SALES TAX REVENUE 80ND$, SERIFS 1987; PROVIDING THE FOAM, TERMS AND CONDF TK)NS GF THE BONDS, THE MANNER AND TERMS OF ISSUANCE, THE MANNER OF E%ECUTION, THE METHOD OF PAYMENT AND THE SECURITY THEREFORE; PLEDGING A PORTION OF THE S0.LES TA% Pf10CEfpS OF THE TOWN AND THE NE7 REVENUES DERIVED FROM THE PARKING FACILfTV F-0R THE PAYMENT pF 6A10 BONDS- PROYID1Np CERTAW COVfNANT9 ANO OTHEA DETA9-S ANO MAKING OTHER PROVISIONS CONGEA• NING THE BONDS AND THE pESK3NATEU SALE9 TAX REVENUES AND NET REVENUES; RATIFYING ACTIOF! PREVIWSLY TAKEN AND APPERTAINING THERETO; ANp REPEALNG ALL ORUINANCE IN CCNFtIDT HEREWITH. NOW, THEREFORE, BE IT ORDAINED BV THE TOWN COUNCIL OF THE TOWN OF VAIL, COLORADO: SFCTgN I. DH:Iftior. Tenn wed h Nb Urd'nanos aha4 Mw IM apeap'<d h Nb aedlon for rl purpww d orb UNinann aM d wIY orduwaoe smandalory hr4r•dl er sly pbmentr h«NO, «rrdip fl«eso, wad d ary kwhument a tlocunwrA appMafnhp harolo, ex• upI where 1M emtea[ by ab« irrpliation heron dMrwiw ro¢u'rw. All ddiniiwu irvckrda its aim pubr and pk+nJ aM rNLrde al D«~- Csna.t a«ms ua paronlMlical{y ddin•d alaawhua Mrdn. 'Addilknsl Bondi magna IM one ar an cwi.a d bald. w om« a•ourpiw a oblgellorr wthoriaw b W 4Ww lyy the 7own punu.N b SeeliOn 77 hsreol and Mvlnq • ken Iha Pbdped Rwantns an a poly wkh tM Gan d tM 1991 Bonds. 'Band Persil' moans IM fund M thr rank r led by lM l9BB Ordinance. o 'Band hNUrsf insane Mrarioipd Bond tints. ion Auvr.rw• Corpwrion. 'Bard h.urartce PoIcY rtteun IM rtrniopal bond ink+anw policy blued tr1r tn• Bad Inslver pueranleehg the payment d PrmdPal ark Ir:lsr• •sl on its 1997 Bonds. 'Band Reserve Aaurana Policy mearn ary kruranoe ppiq. aurNy hand. -reveoabb lrW d credo or cim7er inurumed dspoei•d in w podia b 1M Rrerrs Furl b G•u d a b pan W alMlkulion Ew rmroya on dalaoak tlt«s'rt. TM provWknp any sudh BoM Reserve kr- aw•r+as Poicy shill M an bluer arid[ has bevel don wrrsnlly abipnw an AM rMinp « a Dom puadb tying by Moody'. Invaslm Service. Ina. Standard a Poor's Gospanllon or their arrowsa«a. 'Buds' mace 1M 1984 Bads, k99f Bonds aril any Ouhlertdirp Mdlk•W lilorrds, 'Braer.sa Day rrnerra • day on wlvldr barrka looted in rM a'e. h which IM pre ipal diet d aedr d SM P•YIIrO Apai and IM Bond udu« are rql required « au[hwced to be dosed on which [h• Naw York Block Eachanp. ys noI closed. 'Oboist trans IM Fia+.w Rub CMrt« d ate fawn, ircWirp cep Nta«dmwsla dnrao pr'nr to the date Mreo1, 'Gomrreraal Bark- means any dapwyory Iw public funds perm;ned try do bas d tM S1aIe Iw pdncal sliEdiviarons d the Stale which Ins e capital and aerates d 370.000,000 a tins, and which b lotted within the UnAOd Slates. 'Canrruawn Fund' roans 1M hind aaNw by Sedan 13 Mred. 'Faeal Veer' mown pn MwM• monllu cola mandnq an [M Gray day d January d any alen- dar year and ending m IM INnY-linl day d DemmMr d soil[ wrbldw Y•w w ouch alhal twelve month pa;od b may lrom time b tt.w M Ma;prua6 EY IM lam Caundl b dt• Fgcal Yew d Iha Town 'Genoa[ Dperrinq Eapemei mean. all r•NOruWa aursnl rpenaw, paid «aoawd, d operrivp, rtmirrtaitinp and rapavinp IM Padl'np Fec7iiw. TM lama ncbdea, willlord prritr;on, opal and ncidsnlal ezpernb d Ilk varkva ad- miyiWelm• d.psnrrwrde d 8u Town drrardy « ktdieedH rdand and rsasonabb rboaEle b fM adrmirrNion d Nor P«kinp Faciltir, inwanw pnrniunr, un r.aaonabla dtarpr d .nr P•Yn9 ap«d, 0uels• w depr4rrry hardy, mrslraduN a«v;w. Profbabnr a.rricss rsau'red by N'r Ordinarsoe, aabriw aril rldnynisErauv. ..- Ww, and dy Doak hwrr.d by IM Tam h its wlbuyion d Grw4 lTevyrrws TM 1«m dos. rrW kxrkrJ• arrY alowww la d•Yvwirun, •ny d r•grralruWbn. InsaPV«nMa, el•r.rlwt brl«naarrl, any aomPrulrion d rb«v.. for C•Pkr . ~ .., errs rw•rrr 1cr aperalan, rttainlsnanw w regal d pea Parking Fadli;b, any allowanps Iw pn .... d any bond w dh« sawriy eviMndnp a loan w Iha paym.m d arty yA«bl rn«awl. Nld My Npd 6~iBy rid book an owMraoL Y . ~ DblipwkrN• rtww any d tM Idowip wltioh era rrwtc•}Isbl• •w whirls r lM fkn• d irwWlrrnM are legal inyealrtwme urrd•r tM bwa d /n ark for do n7nnya prtpaa•d to M hwabd Nrsr•h; 1aJ Di•d p«,«r d>tiyriww d, w ody.riww an MYmenl d pnc~ipr d and (rioter an wfiidr Ne urloondlionNry quaranbed by, lM Uniw slaty d Anvariw; MI Bads, debenlurca. Hills a dh«.rid.n~ Des d I+debtwnsu 'wsued w pu•r•nt•ad M «ry d IM foaow'vsg; Ezpon-Inporl BarJc d IM United Stabs: Federnl f'rwrcinp vardl: w Ic} Evid•rrws d ownership htarru In drips. Dons draLed in puap~ ^a1 w NI r»w. 'G oW Reranwi .all Income and rwenws dw;vw disdH w hdireafy Iran 1M gparNion d or dhrwbe ratatinp to tM Parknp F•ciiib, hcludinp. wilhorA limitation, My tee, rte w dh« drorg rawaad apainr any psr- aona Iw 1M prrvi~pr d wirq d dlwrw'ws rdr- k+9 b Pn Parknp Fapgba. 'kwome Fund' nrana tM st»dr fund M Ntal 14u1q crsatw by IM 1889 Ordinerloe. -kruranw Paying Ap•nY e:rs•ns Ci[buA. N.A., a ka euoc.a.ds unties UN policy. 'Maximrm Mnur pad Service Requi«rwnt- meam IM aaxirwm «rtgnl d al r.vu:w paY- mMla d princ'pal and k%erar on /te Bwtda rrhidrail b•oorne des h+nY Fbcr Ysv. Fw Nn pugaoaa d Sadion 17 inr.d only Ma%irtrlm M- ur qed Serviw Rqukwrwnt ahrl ra irrckale tM priropr and inl.rbt ort the 1pA5 Bonds anti 7M 1485 Bor,tla era paid w d•Fwa•d. •NM R•venun' m•auts Yre Cruces Ira fiien•rr OPercdhp Epper7er. '1985 Gonda' means its TamL arrwwWhp Ci•nur pbapaion Relundinp Bonds, 1986. dal.d as d Nevnb.r 15, 7985, '1986 ONirnrrw' meaty gldimtnw Na 23, Bobs d 1985, as .mended M Grdirlarya Fb. ;m, S•r;sa d 1405. '1889 Bonds' nwana ar. 7pmY Salt Twr iMwnw Bonds. Sarir 1489. '1989 and pNiwtw' mars Drd'unrtw Na 29, Ssrir d 1869. 'ID91 Bonde• wwNw tM 7vwria Salt Ta Rewnw Sands, 3«ias 1991. 'Ordinance' [rake this Ordinanw a tM Town, which provide for lha bsuance and d•Gyery d tM 1991 Borah. •OutalaMinp' magna. u a1 any dale of ask wlbn, ai Bonds N«Nda• «eak•d, w- aved end dNNaed by dw 7own arcepl: 111 sands th«eldoro cancel.d by lhs Town. Aspblru a Paying Agent, w su<nr7d«ed b tM Tam, Mgblrw a Paying Apanl Fd canceirbr (~ Bads Vt feud « b eubaryd'on for whkh dher Bolls elk/ Mvs been axsaned bwW uk dslN«ed trl' IFIe Tam and aulMdycaled by 7M R•p'alru uniea prod srblacawy to do Itp3ctrar b pseantw shat arrY seen Bonds an duH held M IM bwtW rapit.rod owners [bored; w 131 Bonds dnmsd to Mva bean paid w {Pwidad'n Sect:orr 20 irerecl. 'Osvrte~ «'Rspianrad OmnP shall nwan tM r.pirered own« d any 1991 Band r sham on Ilta rspburial hooka kept by 9n Rpbtru. 'Pakinp FadRisi rtwarw rl svbtip parkep Ieauliw, Indudinp, but rid united Iq •k Padrnp 1•dH'w oorNlruped. dMrwiN .eAu'rad and quipped with lM gaw•da d Dys 1988 Bonds, and rl future pwkiny fasiiiW aprazw by rM Tam. wfiitlr faptii., dglude al ;nlpr4nnwnla, extension. enbrpemenfs, addi;au w bah«- rrwnts lo. w replacerrrnb d. 'Paying !pant- mhos C«ur ilwly Nrbn.f Awodatian, honky, Cobrado, bdnp he agent Iw tM Town la tM payment d Bre 1997 Bands and inl«ast lMrem, or its auocbaars and au nl. 7«nrlrad 9wWrrry" nwrrs any rmeatmartr shown on tM 161 rttlehed h«ela n Exhbil 110 tM ntad p.rrraipsd hY Uri Chu1« errd Ordnen~ oae d Nr 7wm. 'P«son' mean. ny Indlvidusl, firm, pwlrrarahYl, oorp«atiurt, wrrpany, sNOdeaion,. Jdnlnlodr Nsveiripn w Eddy poises: roil ur. brm ilvd~N any hualw, r•ceivar, uaynr or dh« slrlil« repreaenlaliw 7h•nd. 'Abdged Revwnub' maw: (() On r.ranur dsnwd from Ore Pledged Bair Tex; pl any addkionr iota Idh« Nat . gw»rr ad vrwam 1u), hoods « ravMlns whids fns Tawn haresh« pbdpr b tM payrtwn d Bonds: ply Nn NN Rwenur; fM proc..da d tln Benda d o0rr bpldH avilabl• morv.ya depceked 6AO aril told h the B«d Fund and 7M R•t«w Fond; and NI Crates[ « iaoanw z•t Nor M toms Fund, Nr Bad Fund and 8r R•urw Fork; alb 9w clots Nua alld4 rrwaeya an ad cry Ilm• quh•d Ey 9edion 1/ hsreol fa b• dspoahed ono and held iv ar k+oomra Flald. ervd tln Band Furd aril tlt• R•aws Fund. 'Pbdped Sal. Te' maw thr errs-hap d Nn Wooaeda d dye 8•Iw Tu whbh b also pbd9sd b dv. p a«r1 d Nra 1983 Garda and '!Um tp page 9.5 .w,,,. .rr.,...n.......T.. ~~,....~ ;.,._,.. ......, a , _ ~. .., .. ---.. .. ....r ... , , ~,. . " ' ` The YnH Ttad -Narde77tber 22, , ~, 65 CUSTOM FABR(C CREATIONS. Unlimited posalbtlitles fn home decor, crafts, eoatum¢a, clothing, embP-Lishmenb, etc. Satlafactlan arantecd, Gll Tha FAHR[Cator 2261 IMPECCABLH AND RBLIAHLB E{OUSEKE8PINC of Arse realdenraas. Gll Jeanne, days 949~,128r evenings 827-5971. COMMUNITY SERVICE ARE YOU f EUR7WCT Wa can helpl Eagered women pH The Advoatea aF tits Women's Reeouroa Center, 24 holltK, 4767384. F6wn page 98 tM 1989 Bade. 'PLdgad Sara Taa' dor nos irnWS inuarrlsrlfal7slr fur whkh w r m1y W prayed b IM WYmed d ar bonds pulvuan ur6.n nrawd plan r ddin.d k+ 31.2b ~1$, C,n,9. or a Plan al davalopm•nl r i+edh31~76007 {6 AIGRe. 'F'IW $elw Yu' dwa rid Irwkrer rrwunla wtl Msb by nalariere ell wrdaa b pour thrF expaner h mlydhq all rerriflllg 7M Pfdped Heir 7u, and Pladpad Sala. 7aa dou rid Inaluda anrorxaa ool•riM by are Town serf sutr.gtrraYy ddsrmkud, puraiae'1 r 6r r~firMd•.9alr Tar ddi,r,u., q W salted b valkl daklw I« islands. 'P4edgsd 9air Tat drat rid hok,de IM prgorda d rly knrara h ar Salta Tel vAridl rnaY W ap{9oved h lent Idun, unlssa alr%1 • la expnnly P B~a~~dlM •Prdgrd 9alaa Tall dots )M prporrL drlrsd by lira Tawn bom anY 1•DMy avella6te tax or lose or Isr. lolh« than a ;rare! ad Malalaell td.) rfildl r•placa a µ0.r. ear Ina Pledged salt Far, rpardlns d wh«hr a ~ tar a I+sw n ter u. irpoaad 61' 1M Town IM $IW ah« paGlir~l lib dwillm tlrnd. •PdL.jr nrrna tlu Fi+anerd OeerwY yr wranw Pokey povwad b1' drs Bad Inuit rMi rrp•d la l1w Bondr- 'Prainrrry OHeW Bwsnlwrl' nran• IM Pnkrrsinary Ollia'sl Slalrrrnl dafad NoverrMr 7, 7901. •Pujea-r7wrwanyppbtla' ar 'prswnl whkh tM 7own Is ksgdlY audlarred b ,gain, cmNlW.n a Fnu1v- 'Purdease CgnOaeP mrew IM PurOhar Caerrt batman 9re Town and the Parrduvr doled i'. I9, 1991. "P urchaan' mean. 13aorga K. Baum a Garpuy, Kkdvsr iloor• OMrion, 'Ratrar Fund' arula IM lunch by That ntm• or.atad by u4 1989 Udlnanu. 'Rsghtrsl mans Canu.l Bank Naliond Arariyion. Danvr, Ocbrado, Wiry IM egeM fa ar Tavel tae aye l.yiwathn, yanaf« all ra• rdrnpe d tM 1941 Sonde, « lea arcr..aa. 'Rpitrr Agr•ewwav titan IM Ragistrr Agr..mra bNrv..n ill iar,n uw ell ILpirrr dazed r d tbrsrrYrva I. 1041. •tlagulr Raaord nw• nrrr 115a Ierarih day d IM o.rldu month neat prrcWinq war idrwl pryn+srll dalr Iw IM 1941 Bw,da Fdirr stair a •PadM kaeert 7aaY^'•'a aw 11w..11r fr W la tM payrrrd d dNauf•d hlrw0. •f{ae«w Flu+d' rrtsana 1Fr loud by Intl rarer a W W by Or 1064 ddknnoe. 'Reearw Fund RaqukallwaC moans an amouw wv.l b 1Mk d IM pk'cWl ennuis d tM (Msiandinq Bonds plus an arrtoud aqua b Y hraNprd strings on 1M Rrarra Furl: pwdad [hC tfr Reactor FuM Raquiamad ahaa rid reed 114 Mulmum Annual 1).618«• 51,os Rsqui.rtwrrs 'Santa Tat manna w zee I.pal tM sal era ~. d paoda all arYbaa width b tn,xr•ny' u~ rrid W a5. Taws pureUrd b IW $alr Ordlrurrara and any idun a arrwrdW lu lrbd br tW Town r a aabr era u1a lu, .salt Tae Ordinano.e- rn.arra dr arfinam or dopl.d nY a1s Tavm Cdlndl d 1M Tam k/ ar w'po" d •d'wlkW .rid .Mardrw Ih. 9a1r Tu ell which see lee .a on ur dor d till. d• d'narra aria r 11dar a si ., d 'Spaviel R.aad Drr mwta a aPaoiel dr. Irsd n dstrrrirr Or narrlaa arw edA.re d rgi4rrt owrrla la purpwsa d parln4 kar..l tprial Mrrl pMnd dou w a+a par- med d ddwY.d IdreC J r IuMr provided in Ssdbn 8 tested. 'Slw• nrwn 9r Stair d Cobrado. 'Tax Cods' mar ar 61t.rrd Rsrrwe Code d 1t7ek. fe urwdad. •Tawrr• rrwens are Town d Yak, Cglwrda. 'Tewn Caunci' nrrr tW Town Cowlok d rM Taw, n try euoveew h furKiiana ehrela •Yrus! flad5• Irtaarr a C - I Brit edkrtl i adimixad b er«dy and r aardeinp bull ppwwe, secTloN 2. Fi.ciw. rL TM Taae b a rrahiidpti eoyws5on day apurhad r+d anrlbq lndar 7M Townt C11r1r arlepad pvwar4 to Artbs K% d 81r Corlrkralore Ihs Sler d Coforado- B. San'nn 10.4 d IM Chartr prmaa ass to raw aacuntia rude pllyabM sdNy orA d th• poosWs d wry .alas Ia.r, a flan any portion Ihareol, a sclsy from rrN ravanur d«wW bun IW gwafirs d an 4raanrpraduo Irq pruywl a anY uartltruaim, d aides fur •rrd wNroui an a4aka+, n~I.. 1M 14kn lnxa+r a 1lalsa Taa guitars b sworn 11.1 d ar Chub .rid ar Sty.. 7r Ordharlar. D. 774 Town hr prdgW orr-hM d the rwr+rrsa Irm IM Bess Tart b are Pe7rmra d tM 7966 Bolls and, on a ar6aadlrWe lerb, b ar lOBO aanda k. Pwauad b Ili 77166 Ordinerto•. ar 7awrt issues tM 1986 Gonda era b pYdgr all sty rids lM Pbdpad Saba u la pay prr plrr- cpal d ell 411srrr on IM 1986 Beflda, ptgYida mu IM Prdgad awn Tax owil M Pled9r6 era uaad Iw tM payrvd d M Pdrrapal d and iraw- rl on dor addiliwul pen«rl ablprdan horde d Ihs Town ad,ich may W rw.d t on a puny wish a s"badlnrs to IM 1806 Boras wins raelred to Y1a Alwpd Salsa Tu. 77t• 1966 d- dinanq ales prwklyd that, [o IM •atrrl OW m• principaE d and list«W on ar 1986 Boras rd any addxronal PrilY 9arwal ddlpallat 6orlds an ly proridad for fn any Floral Yeu 4r 1sw ranxa .rid dhr rrnrwyr lwaly aralabls ~4rNa.a, Ihr Tawn'r rrlh«rrd b use audl ea• teas PkMgrd 6alw Tu !w dhr pugweaa, inc4drng. bat rid lmdad lo. peYrrrrl d aydel npsgarwal ablipalrn bwlds d p+1 Twat whlah m.r nN W bettor on a tewh orate ar t9es Bards. bd ody mry ba rasrad h a aubadinlda and Fderia ppl;on b lM clan d 01a 1986 {F YOU WANT TO DRllVI(, that's yattr btYSirlefr, u you want In atpp, that'a Dora. AlrohoEla Anonymous, Vail, Colorado. Meettnga In the base- ment of the Vakl htttxfalilt Chapel, Wednedays, 7htlrlldaye, Fridays at 8pm.476-057L - CP YOU AR8 A RELATIVE ar friend of an ilmhollq Ai-Aran an help. Meettnga Mondays, Beaver' Leek Chaps! 7pm newcomers, 7:30pm regular tussling. Bsbyeltting available. AL9a Fridays, Vail {nler- falth Chapel 8pm. 949.6.'165. OVEREATERS ANONYMOUS- Vatl ]nter(atth Chapel, Wednesdays 5_70pm and Thursday rworl; United M odtat Choral, gle, Mandaya 6,30pm, 524.7363. --- ... _ Bards b tM fslsdyed Hair I a F. Ewcpl br11r 1985 Gonda, the 1989 Borlda, end bends r rcbysllona wfikdt ha» bwn pYd w ddewd r d IM drr d rsusslw d aw 1941 Bpda, ar Taxis teas rlawr pkedgrd Hr Prdgad Silas Tr blJr peymaM d rrr bunch d far ry purpaw wNr IM uY Hr•1 1M Pl.dgad Bare Tax mry b ptadgd {will a fen rAddt h rWUU- dinw q sir tars Iq a1a 19ti5 bonds but on • puny wish the 194a Gonda) IavAuly M ir- ravoc~biy Ir ar p.yrerr9 d IM Ig97 1)ands. Q Except for Site tga4 flaw, Uwe Tartu hr pldpad era Nat ' dtwkad Iron IM PaeiN+9 Facikir wih ell rru6 Ihr ilea Nr Fisrsnrrfs my now W pladped hrilh a fen wtrkh b on w pukywhh tM k•n d IM 7489 Bordal taut tole erld hlevocabky br Pr paymr,l d a,. 1991 Braids. I I. TM Tewrs hr rairad a prapwal Irorrt Br Purdwrlr Iti goalie d ill IA41'Banda for dr purpu• d defraying h wMh a M part ill pgla d IM Pgj•aL I. 7T1ra h.r. bean prweMed b LM Cquncl ill Proposed lam. d Ur fdowvq dowrrrlr: the Purohw Cmtraq:lha RagrlrY Agrnrrod; and Ihs Pralirvna/y ONicial Slurrrrlb J. ill Town Camci 4 dea+roua d causing Br 198t Bonds iu W Issued, d IuN,odrlrrq all dieglr,g ale appflnllon d IM , -- 7 tMrad ' ae er Iwlh Fre,rln, and d graviding aswriiy !a IMpaynwrrl IMred, ail n SM nrnrrr hwruhr ar 1onb. SECTION 3- pelilidauan. All aelfona heratalar• taken Ind incanablanl wish Ihs Povriona d this ddinann) by IM Tavm Cqurci rw Darr dtimra d Ihs Town 6r IM fnpaailion anJ oonacti9n d thr Sala fax d dr Ores Rrwnur, h p°`"dM Hee Prajed, and in asYing sad 'iwlrq Hr• 1991 Banda fu thor pugewr re, rwilbd, appavad all mnfinted. SECTION 1. Aulaa'rtalion d Projtl. TM Pro}.n ~ hare6y arlwriaed r a mat d tut rx- cdrding {52,655,0170 (exdudnp cats 1q W paid Fran savor dhr Purr ill algirW ~ -. d tlsr 7091 8alday. SECTION 0. Arnhalsrbn d ar 1991 tionda- Thera w t'arebl' aUplorlx•d so W bslrad NPy ragirre0 aaW 1as W aaaurkir d the Town. q W daaignRld'Tawn a YM. Cos+rado, Bair Tut Revenrry 8rx+da, bar4 1997• in be eg9^QW pehdpd an+oude d f2651i.000. b a IrtM.N, Irortl~PMtlpaddfh r b pdrcpal all SECTION e. 1991 said Dessir. TI1• 1991 9ards shat W raved h fuky r.piNr•d lomr{ia tpbasrad r b bar Prlrwklal and Marwq, elrai G dabd r d Nownbr I, t991, sllaa be iwad h Ihs darwrtdlsrlon d 56,000 a any i9 raJ mUh Ipfa II1er•aF grrtwbad tl1r no tmi Bord mar br h • drsa+arWfon srfildl eaorda eb pdrldpd "o11%rW du• en airy maturhy des. and no it dkrNud 1991 Bad w{K M 4auad fa rrrr• than one mrwhl rw aha9 W nar4•r•d h sash marvw r ar Ragatgf mry det•twisr. Tlr 1991 Bonds slaty bar klrrM legal star drad dr. udq m.errr+ty,s Itr utr pr annum altawn bdpw, p•yabl• swliamusly on ]err I and Dawnbr 1 h sac6 y.r, -- !'0 m Jrlrr I, 1907, axaapl q5r airy 1991 Bond which r r•b- wed upon hanFr, axdlrpe w dhr raptace- mad strait bar inlsraN horn au nrr rwrA lo- Ir/•al Wrrrtwa dale b which lydarM lea WN paid a day praitlad tar. a % r1o Ywsrsal h1w trap paid, lrrxn pia dale d sr 1991 Bon W. TM I W t Gonda chef mslwa an Oacanhrd t h rd+ d a+• Yaw ell armwrp hwsklah« . , ~ ~. L r Idkwn: YldsxkY i)r• pMclpd AmowA erarM RW [Px Annum 1090 • 176,000.1.70% 1091 -{94.000.4.1IMA ' 1404 • 186.909 - S.iD% 144a - Sab,oo9 - 6.5o1k 1907 •190.000 - 5,60% ,009 • s96,n9o-aTI7x 1tM10 -;100.1700 • a.a0+i 7000. 1110,000 - 3.00% 2001 •i114b00-aa0% . 2002 • i120.000.410x • r. 2006 -lt770.000 • a.f01i ~ - • 200a •5300,000 • aeox 2011 .!)970.000 - 8.50% iTr prlnpVal d airy 5991 Bond .lull Wpay- aaN b lhs nyrlend grwrer a4raal r shirrs on ell neplshrlas noarde leap! M Irr Mgisrr. uPan mrudry 1lrrad and roan piss.'+rian end wrrend« r the Paykrg A a. n any 1991 !land klatl nA ha pall open ea--h Prrrdrlon zed wr- lar'.- Y a stet mruMy, f .teas mntlnw b rprre kirer r Orr cam. ka•rM tar brit W said 1991 Bad uxai Ihs # brad 4 paid !n krL Ptrf.nra d kwwrt an er'Y 1901 Bond steak be Irrde by Araca w Ikall Ir1aiW b1 qre PeYkp Agra. on r bslan saN1 Idarrt paynwd dN• [a, k alroh irdsrrat WY'M dal•r rid ^ 4trkrsas dff, an a bNae qr next auraosWing 6faY+saa ail, b drr regWand owns tlsel•d sa a7a addnse etrawt m SM repiNretlan tsoorda kpl b1r IM nagrlrr r IM etas. d bu.irrws rxl IM Rrpviu Raoord Bala Fa aaRr 15twr1 pry. need data; brA try aunt later rid w lbws/ patl a duly provided la .teas rw q W pep r61r b Nr Pw+M aaro i tlr ragrt•r.d wae5rr Iharrd r IW dwa d 6uainaarr pis tM Ragubr fi.oaa o.r and sMl M WYablr b IM Arson win is IM rlgilaM ovel•r H»rrd tl Ihs dust d budn.r w . $pecial R.rvrd Daze Ia Ili pay mad d say rich dNwld krwrt. BrrW af+eoiJ gamrd OW shsaw lhwl by tM R•prlrrwlwe- ww rrrorrap beaonr ralWb Tar psymed d IM dslwasd n4rre, and nolws d IM Sp.c1sY R.rad Ore ah.A a phrMd for aMwr 4n rt.y~e awrvn d IM 1991 a.d plot b dr $Padd iiaoad Ora ty liraldres mwT b.rdr .rrdt ragWr.d Drat r ahoaw a ar t ~ '. taaads rm w dab by t7ra f1+9lslrrr atslirrq tM Oats d tlw ADULT CHILDREN DF AL- meet every TuesdaynaonatdleVall CDHOLICS - Meettnga-70171 [ntcrfallhChapeE.5aturdaymeetings Thldradaya, Heaves' Creep (:ttapei. For 6:30pm; ta11949.15505 For togtlon. more information 949-6104. AI,A-t-EEhf MEETFNCS - I(you are a CANCER SUPPORT GROUP meets. every seaaald Wednesday eveningg 7:30pm in waitlng roam at Vail Mountain ~Medip4 tgl W. M~dow Dr., Y200, Vail (above emergency xoom). For mare information call Karen Josephson 4765695, ar George Shartltaga 4761836. NARCOTICS ANONYMOUS - Mectinga every Tuesday 8pm at the Bcavcr Creek ChapeE, and Rriday 7pm at Mlntlvn Munldpal Building. Far more lnfotmaLLon ®IE Jay 1.653• 4411 or Dave 4762902, Cp-pEPENpf7T1TS ANONYMOl15 relattve nr friend of an alwholic, AEateeat: can help. Meettnga Mondays, Heaver Creek Chapel 7:34pm. 027-A2g7/9215~7g8. HEALTH & NUTRITION NUTR[T10NAL SUPPLEMENTS used by the U.S.Olympic Sk! Team. 8cotogy eaFe cleaning products, nattha skin care. Shaklee, of I%)1{tae, 949-1771. 9prial Record Data and ar data loud Icr the payarnl d wwh ddwYed MreaL 7M Pey:y Agra may titles P+Y'rrnfa d 7dsnaal on arse 1991 Sand by wrdr akanlntw arena r may M mutually agrsvd b batrer+ IM ownr d such Iga1 Bond rrw IW Pa' llperd (provided, hovr-vr. err IM Town afrJ nu h. nqu:d m nxau lunch wafa6b b dra Paying Agent pa 7e Ihs inkxsr paymem area Natal b1 asie Brdion). A0 s9dr peynrrrla ehaa W made in Iwiuk mawy d ar lMilsd Starr d Mnalea witlwA deducton la SM eervior d the Paykp Agrn1 a Rapabr. SECTION ]. Pdw F , . A. 1991 Bolls maturing on w tr.Fon Drc«n lrr t, 2001. w rid e.bjw q prior lederrplbn. 1a41 Gorda Ireurnip m and stir Dacenhar I, 2007, steal W ar6lan b prior rsdanpllan, r FM aplbn d ill Tlwm, h wird. r in Pan, h iaaegral mukiors d 16,000, ham ouch mrruilea r an w4ded by Hr Town, all tl ter than aY d IM Boll. d a nrtudty era b W ~. M toe wkhin a mNUr1y h such mrxrr r Ihs Rpiwr may danrmYSe, rr Oersnbr 1. 2001, « an wry dalr ttwrsahr, r r.dwplon price .quit b 100% d Ihs pr: yW word sa redeemed pw ac- nued Idwest b Ili Iadeflixlarl date. B- 1091 BarWr rlrtur3ry - 1.2001 ea tubjad b rrrMUay sWdng Furl radarrpibn r • prc• aaaaF b Hr pdrnipxl annum IMred pbs scented inlreN So IM redenption date. Sud1 1gBt BorvA subject 7o mrwuay sidri~g turd rederrplian ahatl W srl.dad M lot in such rrranrw r the RsOfwu anal 1.. ~ ' (9'vhq propalbnals waipht w q5. 1991 Bonds mvtwinq OavnrWr 1, 2001 h :, ' ,liorra Ierga 61an 55.000). Aa ell fa a a)rkerg had la ar r.d.npian d Ih• 1981 Bads mruerp an orosrthr 1.2001. tAe roan win depoa% in IM Band FuM err « bNra psarr6r 1, 2005, ^ wen +°9wrr will o0w rrgrrya avaltahfe n Or Bad FuM r auflF cferA b rsdaem Sabi seal r Pra++ded b.lo+4 1M ldlawing principal rmunU ul IM 1991 Bade rradwing are - 1, 7901; Vat - Pdncipd Arrwd 2005 - 5130.1700 TM rerrtairwrq itlp,o0o d 1t4 1981 8rxeda ma7urkg on r - t 1, 2001 .Hall a paid upo.e f»sanauon and awr..ww a mpumY uami tae r.d..nr.d prnre.ra b ap[iwral rad•rrq' gibs b rrr.aah- On p tMar the Ihirtilh daa #la b eadr sitar a;Mirq fund paym.a dNa, IM Regilrr ehaa paord b sail IM 1 W 7 Bmas m- diased s/svr• (a arty 1991 Bad a Ronde N- eurd n reeler stroll 1991 Iladal fa ndsrrT%ion Irani ara91 alrkkp Ilxd on the rand DewmWr 1. all gars nd6. d war ail wiawd iura7r 91- wudkn a nclba Irrn thlr Tarx 1991 Banda mrudng an OeaartAr t. 2006 w sub}ad b nrndalory sir9tirrp land ndarrption r a pro .goal b Itrr pdrrripd rlfoad aanal pica aovtsad idraet b tM radsnplbn data. Such 1801 Banda wl6jacl b nrrrldatry aiking fund ... steal W asladsd by bl h ^uoh nrrw r the RepWrr Jral daemirw f9kk'9 prtpalbrra4 ws)gM b IM Ig97 Banda malurhg on Dadnbr 1. 2000 h ~' Tarr rrpr prr 55,110%. M and far ^ sWdng tutu iQ tti'ed•npfon d tM 1991 Gorda mrvdrg on ~, E 1.2000, Or Town witl dapwa M !M Ball Fund on a trlw DswnAr 1. 2005, a wen topolrr with olFrar nrareye avai3s61e in ors Bond FuM r wHF dill b ndarn {sleet aadi u wavided Wbxd 1hr lolbrEnyYy Prindpal amoUnla o[ iha 1801 Borrda rr.ludna on D.o.rra7er 1.2000: ar - Pr7rclp.l Ansrae 2006 - 1146.000 lrr earrulrirrg iiS5,1700 d Br 199t Bdtd. rtWwkq m 6eowrAer 12008 shat W paid upon W Wtr«rdr tl metudty unrsa punuasa q aPbonv rsd•rtpllan pia b n1s;slrty. On a balsa ace /dd1aN day pia b rasa. soar staring lurid Paynlsnl dNS, 1M Rrgitrr ahlr6 pored b v91M 1901 Ronde leis d'rasad shots {r ary 1997 Bad d lkarlds :- ewd n Irple0l audl 1901 ead.j is «demdian tram coal skaYg Tsrrd on IM rrei Dsosm6sr I, all gin nala d soar aaH wiOwUt lunhsr in- Nrrxsbn a natb tram Iti Town. pRD-/2(21 1ig1 9atdF mdaYsq m C !, 20t1 w .objets b rrwdalwy lend nd.rnpliorl d a #a •Wel b ar phdpal amor.a thsxrd pal acawd ' Irrl b 05a rsdsnplion date. 1901 Benda w41W b rrtardtlay aink'rp land '. etas W rleded br M in aexds trait oar r ill R.gblru steal dslrrdna [g3vfng proponbnra w•i4h1 l0 The 1401 Barlda 3ra dr+mnnµbn W9« 17ven Se,dbp). Aa ref br a fiddry Furl tw a1• ndenNfa" d Or 1991 0arda rnalwky an [ 1, 2011- 8ra Town wLl dapoaa b ar• Bond Fund en a belon Dananbr t. 3067, xrd m a balara aadt Drosrt'6sa t. f+rel{r tlxasrph Dawrrrbar 1, 2010. • wen ngaaw wM anti malsya a9ei- ebr in Ur fiend FuM 4 adFldanl h radarrt {asr a.at r povidd b•lore) tM idiw~.M''rap~ _pdro- oipef apnuraa d a7a 19gk Bala IYl.rnn.. drl Deorn,6ar L 7011: Yes - Pdrciprl Ampued 21707 •;170,000 200a - ita0,000 2009 • um,o9o ' 2019 -{206.000 TM rrnidng 5376,000 d Ihs 1991 Banta malur'np p1 DrcMlber I, 2011 aFrll M pad upon pnaanatian zed wrarwrr tl rrWUrihr um lea rrda•rrw puleuad b aplorld raderrplian pact b masaty. On a hd«e the INniris day p'rrb eadr stab airyirp IoM IsaYnwd dale, 6+a Regrlrr Mall proved to dl [M 1901 Bola irr a'calsd above fa any 7991 Bond r Gonda r• sued b rrplap such 1991 Banal la radertplnn Irom such e;ratiq land on Shs rraxl Dawrtbr I, am 9Na nnloa d war raY wiHroul lrMhr In• aaasfan a ark. From tti Torx AI Is aPtlar4 b {M rardsed dl r te•lon ar a'x4.aa dry tors prreadry try such airing land redaragtion dtls. Hr Town may fat ddirer b tM Reg'allr for arroaxafiort 1994 8orda eubjrd b '^a^alaY sinking IoM rsdsrtyl6rl un tacit da4 h an aggregW pkupaF amount deirsd a [6} nc•M. • o.dn h rsapaa d ks sirA's,g land »dwrplon dal'q allorl Ia airy 1091 Bads eubj«s b murdrwY ahkhg lord r.J.rrpllorl on sill, dale, which prior to Bald dale Arvs bean ' I;dheewia than through the rapararurl d 1M sk+king lurgl end arlolsd by tM fiagireu and not t .. apptrd r a aed% ~airal r'Y sYwirp turd radanplion dlltpufon. Eadr 1947 Bad w : a pwiousy rsdaerrrd will W vraditsd by Il1e RegiNrr ai It1a prindpal wawa Ihred an d4 a69palion d dr TaWe en such sinking fund eedsrrplion der and IM pi^• ipal annum d 1991 Bonds b a radrmad by ap«rbn d arxdl .irking lull on such date wit h..cwrdngy nduad. TM Tam will on a Wlae the srtwlh day r»xt peWkq each sielk- iry land redenplion dale tarnish IM Regiabr with'te c.rrtifi:ate indicating whether a rid all la what extun! IM plwiabna d Iw and [bl d IM preoedng sentsnv aro to W waned wish napsal so arech skating Fund peyrswnt. Fdlrrfa dfie Town fo dekver such cerlki~le shat w[ a$eq Iho RegislraYa dory t give entice d sirdring land redomptgn as presided h Ih'a ptvxgraph B. C. ?n the "°' d 7891 Bonds d a derbnein.- lun lager Than 55.000. a ponion d such 1991 Ball IS6.000 or ony integral mullple Ihareof? mar W redeemed, in wlvah sass lM Regis9ar shat without charge to the ownr d soar 1991 Bard, aulhedicale all issue a replaCwnad 1981 Bond or Bonds la iha unredwmed ponpn Iharad. 0. Eroep r Provided in paragraph B d Ihr Sedion. IYa Direna d Finenm d the Town steak give wrdlen inurvdgna concerning any prior raderrp[ion b ill Rag'stru al least nary days prior to foal redanspOOn dale. Ndica d rederrp Itpn shale W gNw by Ihs Regrlrr in IM rrrrr d Ih. Town, W ending a °°PY d soar ndice W swilled, liul~9tua gulags prepaw mail, rid nnre than aury oar rss than IR'rty days per to the redaryxirar data, to the Purchaser, zed b gadr reyyarred owner d any 1491 Bond, rt w a portion d vfirdr b cadird luf pr10r r•derrytion, u by ,ddraaa w a loaf eppewre on IM regiahaSion eamrda kept M ell Ro9rttr. Fa;lure to gore arid, notice by nlaiGng b IM regi•rered owrwr d nrY a901 Bord « to the Purr9taar d any Grrw Iherefn. shall tort a}f•cl the validlry 01 the gocaadinga for 1ha redsmgrorr d any dh« 1991 cam.. Sudr nodes ^nr1 tdr,th tM 1991 Borlda a pwlian Ih«ed a M ~ . Itl la.. Shan ale zee to be redNmedJ and Ihs daN tiasd for redarrption, and shall funhr stale that an coal redarryenn date Ihs pirlgral amowH tMrod all Ihs deipnrsd Pnnrum drereon, n any, vii br taro des and paya6b r sM Paring Ag.rt, and Thal hem and a0r such data lnirrl wit asaae to accrlr•. Atauad intern to IM redarpion dale wile W paid by died[ a Bran mated b ur regipared arrw;a 6Y ahwnalirs rrrra q w agreed fo by tM Paying Agsnl all IM regiN«ad own«). FFdira having been given h tM rrwnrer Mranabwe presided, IM 1847 BoM a Bands w cafbd for reGxrpl'nn ehe9 becdne due and payable cis the radarlpti0n data w drignalad; and agars pmenlafian and wrrendr Iharad at the Paying Agra, the Tae veil pay IM principal d all Panvum on, i airy, t941 Bond qr Bonds so caked Fa radrrrplnrr. SECTION 8. $Padal Obligalicns. A7I d tM 1991 Bonds, lavefner win IM isVrast .cauhg 1eu¢son, steal is payaWa and Datable eddy out d IM Prayed Revisor, vAlkll era Mrehy iawaa6y w pledged; the a ovrnara Ihsrsd may rid lock b anY gwrral a dhar IoM la ar payrrw d pri1C{wl srw idrrl on the 1981 Bonds. expel a1a desigrWed spend tartar pedgad Ilwalon; aria 1M 1981 Bared. ehd rid Donal%NS v, hdsdedrwa nor a daM wrhn tM nlsenh9 d eery -.".," ehrtr, aaedUliwW a statutory proviion a trr,iriani nor shay trey W wrsidr.d a Mkt to W grovelabligalions d IM Town; arw .ad1 d Ih• 1991 aanda betels edhor¢sd to W ier»d ehaa twit on Ise Fw. err % r Payable and mllastbb aalsy Irom dr Pbdgrd Rwrwrsr and Ihd tM oernara 174rad may rid lock b rY gwrd a ah.r IoM la tM paymad d iha phcipa! and irasrrr rr IM 1891 Banda- BECTION 9. N•goli.bin[y. Subj.ra to IM ngrlralbn prwiairu Mred, m• 799f Bands slerH 1>s luiy nepola64 rd e1faY haw all Ili quaklias d mgnti~le pep«, rM tM awry r nrw4n I Ma~p~..y rl rlyht. waged M 1M hddra a d npdkd,w Inwu~ insists sort IM prwteiaw d dr Unlwm Cars. mseeld (.oar-IrrvaHrrwds Ssewilba. TM parr dpd d and Mrrt art aw 1991 ands steal W paid, raid err 1091 bards ahd W lrwlwa6Y, Irr Irom and wiYraA rprd b any aquilrs be- 1w•ar1 tlra Town .rid ar aigirrl w any ida• media owner d arq 1991 Bards w any aMdk a ... SEC71oN 10. EaaoulVon. Tlr 1001 sates eha9 >N aaeod.d b 1W nartr all on Wharf d 11+6 Town hN Ili agnuur d IM Maya, ahalF W aaalad vi01 a mutual a lapknir uprrsia, d ar zed d the Yawn and a0r1W M lM e7grlrt- lurl d M Tow,t CHAS Each 1901 Bond steak W aulh•nliat•d by The nxrrwl sgnrun d en wlhorQed dlipr a arrployr d 7M RegWrr r h«rire4rr provided. Tae wprrurr d the Maya rid tFr Town Cork may W by nlarrual a two- 4nJ• fignrurw TM 1991 Balls Waring lhr manual a lapimle eigrwlurr d IM dlicra in dlioe r IM Ikrra d tlw aulhatraban th«ed .hd W IM valid acrd birwng obrigrions d 7M Town pubpd la lM rwuir•mws d aulMncaoon W ill Regilnr as Mrdnafter Providsdt t- wnlwlarw'vrg 7hr1 balsa ell detrary Hind rid payrrew! Ihrrfon w bran the leuanp d 1M 1941 Bawl spun Irenda a udrangr, try a as a tM p•raane whew menud a laafimis eigna- LosT ~ FoUN© f)OGS IMPOUNDEp at the Eagle County Animal Shelter in Minttun from Nov. 14-20 include: Shepherd 1113x, male, picked up in Edwards Nav. 19. Tf thiy is your pe#, please contact the Eagle Catulty Animal Sheltie 949292. ~~ MISCELLANEOUS 1 VAIi. ASSOCIATES LIFETIME PAS SFS bought and sa1d. Far the person who teas everythtngl Call Mexv lapin 4765483. RECYCLE! Far your own gtaod and everyone else's. lair appear Orison slw,l 14aw awed to lit Ihei r•apedira dlbx. TM Maya and IM Taws Clnk shall, M th• ueculhn d a dyrutuu mr• li'rnls Psrlein'rtg b the 199E Bonds, adop as .rid lr lMi raepediw aigrrturr any IacumlM Ih«.d ppF>•aring on IM 195}1 Oorws. At IM lerr W IM aaranart d the ugrWrue urttkute, Iln Maya and IM Tam CI«k Hwy eeeh sang/ w rw Iw hr a trr lau'rreie spnrtura Ihs laaimr algrretund h'n a law, . -....ICr it dliw h IM ."ant Ihu west fararrnle aignaturr appears upon any d tM 1983 OaMa No 1891 Boll shall b• valid a dxligatay la any p,rrPas• unloa the aalificele of rulhenliealion. anbslae,lielly 'n the farm hsrairuflsr Povidd, teas bean day mxluaHy ax• ended a IM Fiegrsau. TM Regrlrara mnli- t7tls d auNSnlicaliorr shall W arn,rd b now been day exeMad by the R yrslru a rnanualy signed 61' an a,shpkod dlica a urysloyw d the Regalru, teal s shay not be neaecsary Ihat the game dfioer a anplayr sgn the Gerlricale d aulhenikNion on pll d IM 1981 Bettye awed hereunder. Hy a4ihe MiCaling any d IM 1991 Bonds in ilialiy delrvarad pyre Uan[ to Ih is Ordharwe. the Registrar shay W deemed to haw eeanted b the pmvbipna d this Ordirtarue. SECTION 11. Aagivalian, 7nnsla and Exchwrge. A. Records la the reginration and Iranefr d IW 1991 Bonds shall M leap 6y lhs Regisbar, which is Mroby apPOinbd by tM Town as regiwu h.e., tranNr agent) la IM ty>01 Bondw Upon Ins aunerwr for Iraml« d an y 1991 Bond al the Registrar, duly endorsed for lransfw ar oc- conpahrad by an assignment duly executed by Ihs ragislered owner or his attorney duly aullx9¢sd in vniing, IM Aegrlrar ahaY enter each hanal« on IM reganalion records all ehaa ulhenli~ale and delNer n the nanr d the bane terse w lranaieren ^ now 1981 Bond or Bands d Ihs same a«bs, d a fks aggregate princpal amard and d !M carne mNUrily. bearing a nom bar w wmberf nor prewWahy assigned. 1991 Borde may W axdvanged r Ihs Regnerr br an equal aggregate Pinoipr amuUd d 1991 Benda d 114 .arise and Ihs aa~4 m urirY d ahe, au5trartaed derwrdnwiarw TM rRegi.rry ah,a arxlwd,cte aria dakrer .5991 Bona a sand. whidl p4 ra9lstend aYnler nWdrp IM asdsvys r enlaw to revive, bearirp a nrnrbaa a Herr. bare rat 1rrv,avely peigned. TM Rpialrr may elpwr reaeaxM4 chugs in cunnMUn Wdh rich exchanpr nrw uanelera d 1993 Gonda. which charge lea well as any lax u other gowrmwual drrya nquYed b W paid wIh raped b slldl axcl,wlys a tranals0 .hail W paid M IM rpiN«ed orrrrr lequrlkp eucir er- dunpr r Irrrdr. B. YI4 Registru shell rid lea ragv'red to hanr fr d exchargs [I) My 1991 BoM a portion Uwr•of during a pwiod beginnip u IM opening d bvaiuaa fikeen days belon she day d IM rneiylq d rntica d prior radampion r here'n govNed and rdirlg u ill dor d 6uuneu w The day d .u h maikp, a S21 anY 1991 Bond w Partio^ Inar-d stet 1M mr'vp d mliu catng ouch 1991 Boll a airy ponion IMred M prior redarrpeon, •awd la IM un .portion d a1a 1981 Bads being redeemed :1 pen. C. Ths person in x#ase name any 1981 Ball ehaH M reyiN«ed on Hre ra7isiratan ncotds kepi by IM fispilrr allali W dsanvw all repae- ded albs t6eaLS• aerr5er therod tar IM purpar d nlak'a1g payrrrd th«.d and for atl abet purpwsa: axospt r rrsrY W ahrwiar provided h S.dion a bred wi0e respsd u payarw+l d 'd«sd; r5d, a16jW to ouch exaplan, P+Yr'~'f d w on rnooud d rth« pirw pal a INrrl on any 1891 Ball shall W nxa ony to a upon the riven war d err rsgirwed ownr (hared a via legal repr..duive, tea each rgirrrion mar a dlangsd upon a«rN« d such tact Bend n 1M manor all sttbjed to the wMkicns all imla,• Iona provErd h«si1. An audl parrrw+ta a:rall M vr'd .ire edactud b aichwga Hu l,hity war' each t991 Nord b tlra ertw+l d tti sum w furrw w paid. 0. n any 1981 Band abet W Ioat, slobR derroyd a nMl.tsd, an A.g:u.r shit. upon raarpt d arch nvidanor, iJanratim a krd•rr. oily nletwq Id7rraFa r f all Bse Yovm my rworrby nquir•- adlr•nslrate and ds7irr a rs• ptacrrwn 199! Bard a Barra d a lira ag- grsgau prindprd amount and d lM soma malwny, boring a oanrWd or nUm6ue Hal pawiously anigned. II such foah stolen, drelrpyW a muuWsd 1991 gad .hail haw ma- brad a x aFxaA b baoanra dor ell payable, the FIa94nr may Jaad IM PaySrp Ayrnl b pay s,c11 15191 Band it ti.u d rrpl.rr,wnh E, TM dllorr d IM tam ra rAhwra.d b drirr l0 6rs FipiNrv tiny earcalsd lxa Un- iulFrersiulad 1991 Gads in suds quanliiw ~ mar ba .. I b ba had h cwbdy M tM Repislmr pending ur r brain Provided. F. Wlrrrvr airy 1991 Bad .teas M wr- rrwaerd b 7hr PaYxg Agora upon payrrrd tlrr.d, a b ar Rp:Iru for vanrr, rdrryr a i , r proridW h«sin, wch 1991 Band .Han W PorrWY o.rlcal.d h a4 Par^9 Aged a Regrirar, zed otxrnlarpulr d w o«II'n cal. d each oancalalion ahN W lurrsistred rYY el. Paying Aq•'a a Report b tM town. SECT70N 12 Form d 1991 Banda. lagsy Opinion, Gniricma all Registration Panty. Tlr 1991 Bade, sM regislrLLion panel aria IM bed opinion pnl'to1. b appear m IM 1991 Bon6 shall be eulsslantirlly r 61loWa fpw:lrrd Ihs[ any guitars d at• t 991 saw Sant mar. ash rP- propiate rdarwrpe., W Pined on IM Male d the 1991 Garde), wkh such aneiont. maersiau. endaaarMna. arw va.W'wne t. to war rector d lace a otter provisiorw r may W requirod 6Y IM cirarm.[r5o.., b. requhdd a p«mn.d by lhi Odisrwr, a a aonelatra with gas Qr- tlknrearand - r pprcpr We w ad'FOrrw ~ r See next pexgry r .I'!r'~'`N<AMYiF.~.....-. "fA~ -,.» ` •- -, F`!rY!.~<, .. ~ .+1\ : , - rr , ,n V 6 7t3e iGA 7YaQ -Naxrnber 22. 1991 ~YnrtY preNHnus page b IM rJaa ofd rpuF.rwds d my pro«rlrnm W aeattwiY a any usrpr a eequiranwnt d iaw wiM rwpsq thero]o; (Fam d Sand) UkIIED BTATES OF A-tfRICA BrATE aF Gaanwo GOUNIY OF EA[tl E rDYVfI of vAB. caDRAnD 8Ai f3 TAX REVENUE 11ONO SEAIES 1tfa1 HO. R~-,~--- 8 ' W1ERE5T MTE MATIHiITV DATE DECEIJBER k, ,_._ DATED AS OF kOVEkIBER 1, 1981 CkJS W REOVSTEREO OWNER: PRINGIPµ AMOUNT; 7M Twin d VJI. h dr cosy d EfpN and Sutr of Colorado QM 'Town'), for valve rrcrivad, ptanrlw m pry b tM feplal«rd vwrar sperriad aba+, w raplfllrrd WIdM, adry ]ran IM Yprdd Frplr prorlyd Ilwdwr, tM winder amoud ePantwd abpvr, al eM rrWUrlty tlma aparbiad aCarr IunNfe orisd Fa wF« redrmgion), and so pay Irom rakf .purws W«- rl Ih«em m JuM ! antl OaoamCrr i d aaolt yW, oaManarrg on JVM t, 1ggQ, r Vse Irt«~ ad rdr Per aMan rPrdlwd a6pw, rrdN dN pln ccd cam y Pea a paynad hr boon parid+d IMrdar-. Tlri borrJ YAI Cra+ Mxrl from drr rmu tawd iM«wl prynwr data m which hr«- rl frra born pap w prrnirMd Ica, d, N no Fa«.r tear. br.n paid, Irpm !M dab d Buf Iwrrd. 7M Winci+d d MN bard N payabN upon pwMls• furl acrd surMd« h«ed b lM TownY r 1ru and P+YF'+9 spool pM ~IrpiWar w ow ykp Agrm'I, praranely Crntrrl Bank Ndlanei Ardriamz, h Owmr. CoMado, at 4 sera' [tens char at F+rsl Luc, N.A. M 81. Rad, M+tnwda hWat m ih. fiord wit a paid on a bass arch H«ar paYrnrd aria fa, N sllM irr cart paYm.d d+de M na • bwFlaas day, 9n a Crag 7M cwt M .. CwFrwr day). C1' afrealr a tort mJl.d w tKr panm h casinos nanw M: bond N lagirarrd Asa 'rpW.red orxwr'} h lM repl.nran reoads d tlw Fawn maiMainfd b1 dr Rrp4rnr and M 1M addrwa eprNasq Ilaraon r iM Gwa d hrwMss 9rr Bla lYrevnth day d lM r»I«rdr rlgMh rNrl prrad~ I,y coati hlMrl Wynrnt aria (IAr 'Rapular IYfcurd Dari I, Ant Yrldt M«rl ltd r IhrFy paid a duly paidwF !w sha8 rYra. b W pay. fglr t4 tM prawn wM N IM repirarsd owner tNrad r tlN atom d bwFneaa an tM Repul« Record Dale xl steal be payrAe m IM Aaron who is nor rey'rlerrJ o+4w fraraol d 0y doer d boon.., ar . Spinal FY.ouvd oaf 1a sM pay menl d any draulod :rwrr. 8rloh Specid Rend Uate ehri a (bed by1M Haplfpr wMn .uer merry. 6a4atr avaifal>f. Iw payment d IM delwlhad intrwt, arl nofiw d tM 8paciJ Rawrtl Odr shall G p'uM b tar r.pNeMad swoon d th- Fob. d MN urw. d Yri{lah thL y ono Ilne 'Bmdf'1 na Ira 01an 4n days pier to sM SpecaJ Record Uw, AfarrwMa msrr d NVrMM d ire«rt nut 1Ye used i traatrdy agreM b brM1rran dry awYtsr a ant Berl and IM Papnp Apen~ p pwded In 1M Olinanr d dN lvwn aurhalnnp raw INVrrw d Ilta Bath RN '4P~d adnan4r'F, All rush payrtwnh ehal hw nude In mwld money d 1M UnNrd Bluw d Anwiu WilhaA dadiwlrr+ fn da arrraw d rlr Paytnp Apad r Mg'wr. fiord] d stir a«Na d whtoA Wr borl N aped pM' 19gt Omdr'l mekrdrp m and ehr Dwam- bar 1. 26P-z, are rubj Y !a p+a rrdxl{Hion. rl rM adore d tM Towrr,n cocoa a N pad. h M~ Ippral mdliFtea d i5~U00. from such nWurillr as ma adaded M IM ism, and Y Ira U+an al d tree Honda d • matnay era !o be rwleerrrd, Lry Id wnh,n a maiunly In such m.nnar 4a Ih• pngwuar nay delermM, m DecrrrAer 1, 2004, w on cry dale Ilr«rdlr, d • fadenpliat pica t qua l0 100% d tM trkoPd so dla a4uwd raatwl W the rs1Nn{aien rlra Boras d tM sriw d white rtes Uprl W • Pad rnalurhg err Orcamber I, 200{. Orarllrar k, 2005, and O.ornbsr 1, 2011, raaPecekray ors arbjen to mandatory rinksr~ land radrmpllm h tM nmrw parfdni In IM Bard Ocd'r+ot4 u w p,a pod to IM pindpd arnouM IFbraal plw aacruM ntalrel to 9ra rrdrnYaipn aria. BaaY au51r1 to rrwwatay a'rrhhp lord ndsrrrPiPtian alral! M waded Ica rmafdory siAFp bred redamprEOn by ,d In such manna .s th• Repavu ru[I delrrrYM (pMrg r .,..:'. _a wgghl to [boar h ,tenenrinalioM Wpx 0tan 35,]1001, Gn a Udae Nr Ihirtirh day Pr~r to each such ehtkinp land Aaynrnl dale 1M Reg:Srr veil pocwd b cd{ IM Bond] acNrjaea b navldalwY ai.durg Imd f-d«Yptbn Ica any Bard x Banda :sued b rrpiava rr>n Bondal for redenYUixr hem m tM react DecerrYfer 1, acrd eve naios d rush cal. TM Town y Mriad b cerlarn clsdtl pwns4 ifs duiring fund r ' abYperun m drs ntanrNr acrd upon dw rorldYioM ppr'rdsd h Ihr Bard adinarua. y 7M un of rrdemprVOn of Banda al a dergrrindron super Itrn ]5.000, a pwtbn d cacti Bond ;36.800 ar ant Inlsyyra muaiplr dr,edl mry kN radeerr,ad, h whMr are tM Rrpehd shat, wrhpul drops m tlw ,ar+h« d ar,~h Band, purlrriude and Nrw - rayta4rrwm Band pr Band. far lM uMrdrartrd p4r1F4R IMred. Rwenpl'on steal hr nbda upprl red mwa than sLrly days reM M! Nos than ihNy dari nr;sed mica a IM ar~MJ Wrohrrn and m wd+ rrpiatered owner pr Band] b a rrdsxrrd u ]Hawn m IM reglArr:m rratds kept try 1M Flepnlral. h the rrlannar and e4pn Nlr oadNioM wovtArd n tM Borld OrdiMrur. The Bonds era laaua6le only ea 1WIy rrpidrrd Bwls h Ilrlardrrrlbr d 35,000 a ant Magrr mullpW lh«ad aM au rdrugr arbN for tiny raplxrrad Bohr W ]M eama nwluriy and sriw h agar sooners plM:pr .,.ura rut h aaluxbad d.runYrwlona r IIN ~I,.,rakf dlr,r d ore II.gWrr, Inp my h 9N mrnrw, avhjed b hr Fnrkuona cal wndaiwr, arW cowl paptwri d Ifrf ahr9p paldrd M U» Hari adnrra. This Bvnd is fully tranalaraba by Iha r.plrxed awnr hwwf Fn y.rYm r by hi. duy adlwrQad aharMY M rM rrpidrdlM racarh krPt by tM Reg4tru (.pal wnerd« dlhif Sad loprltrr wish a duy asralad wrNIM IrratrumMl d Vwrr aridadory to lM prpNtru. llpm ouch vanalr w mw fuly rrgiatxrd Card d eulha¢sd dendrrFwllm a denominrbM d tM sort arir, rpprapr• pander amount and mruky rrFl M :quad tp IM Irrmlrrw h r• dungy la this Ifmd, ubjrd ta ouch Nn+r end 4wtdaioN and pre paymMl d 1M cFrupw r sd Fodh hr Mrr Bond adirenos. 7M Tdw,l and IM Reg:VU and Paying ApeM myy riven erl v.r 0ra ]carom in cacaos n+rtr Mla @ad V tapVwrrd r Ihr rrdule arrrrar Mrad la IM purA'aee d rrtWFrg p.ym.d and Ica aN otllr prpraf. rx- 9rp1 to the aslant alAsrwlae prauld •d Iwrdr.bwa arl In tM Berl adFwrg. cash nrpsd m Rpuiar and Oprcir FTaoord qrw fd Una pryrMd d Adrrer. TM Rpirru wit rdI M raquirrd to VaraNr d .Ydfrg. ~i) and Bwd a potion th«ad drrhg a period bephnirg N IM op«drp d budrrar FN- Iwn drys barer 1M day d It,r rttaiitp b'Y lM RpLtrr d rtdios dpFx,rd.rrptbn and «rdFg d the dare d buaMr.r on uw day d ouch frlrlhp, a (•} any Bond a pMOn lived rlx Mr. rruiing d rglior oaNiry ~ooh Band w e^Y palgn Ur«.d la per radanpion, cad tM wurd..nrd Polar d Bo,tds br:g r.dwmfo in Pfd. TM 1891 Soda Mr aWl+a4ad for tM prr• aura a dalraywp wholly w In pad Iha rods d uw Pra{fd {u drlirtrd b tM Bond OldiMrg.Y, la NN paynr«rl d Dada end rxprrr.a Mwidarrr NrarMO and b dry Nedfsld d tl. Banda, rrl For fundnp a rr«w bf IM Bwdf, a1 Vrrdx tM Whpr y d orb h fuU ..~ ...,..., rrih lM Car raWim d 8+a SCrr d Colorado rod tM Fown i;Aut« and punurrr bthr Bond Ordbanr duy adapd, puG:hW rod nadr a Wv d Mrr Town, W pia b 1M isauarua d the bard. TM Borrda d0 rrd amalNula l dad IX an hr ditxadnwa d tM Town wlhin Ufr rMfrratp d ant _ dwtr, mnrilulknr a aiatdwy pw:bn a rniutim, aha6 rtd b ooMidand a held b b a pMerr o6f9dian d Ma Town, avl an paraCFe [fort[ and eahatdda . pNdge d, M Yrrvof I+Fs Ion Nd red nsowwty an aaalwirw IianF m. W d IM, .. tp ffa drrMd by 9ra Term from Ua PNdpad Salsa Tr (r rddutfd h Mn Bard Olirrrrosl and from an!' tavw wfrkit MrWtr may W Nprad by lM Tam h fldF tbn thrUO or in eubslilulbn thrdw, NN flwmap iw dslirrsd h the Band Ordrrrrioa) d Brr PeAhrq FYY:Yair Ir ddytrtl N the tiprl arlhw,w), any [err. lord] a wfdrr 1M Tae[ h«edtr plstl9w b Mr nrhrl d fire lkade owI.FI alt« mauya hw In tM 8wd Fund and IM Ffrfrrvr FuM (r both arldr horde w ddlnad h d» Bad pnlirwlaa}. W Irwwt- mxr Inoonr M aarleh Irrdf, J b flrr rxleH tlfsl al,dr nprnya are d any Iitts rpu:W b I» deprhad InYa arld had in Nta hrcarlr Fund, Ua Sad FVn4 arA Mra Rrear.~ Fund orfde6 by, arld r Prodded h, Ya Band Ord:r.nor, rl,b(Of1 b twldn koapliorrf and aadreioM r prwded h Br Boll Ord'rlurr Nr'PNdp.d Rarrnlary. TI+e f8ords aomtlua a pLdpa d, and en F• ton (btN red rruoara,Ay aw rdusM Ikn} on al d rte. Pladprd RrrraneraN, Y a Dalib' sate drr gfn d IM TownY arrlardhp $rr Tr Rawnr.a Bona, Sarin 1989 CM •r1iBp [dada'}, 1Trs Bards wa.gvifablY rrl rdtr6y ararrad Nrrr m rile PNdpwd Salta Yaa prd tM Banda Ody oprrlilWr h I and aeoorl irtd 4... ~ '~• 4ei1 {6d red rreaaeearily M rldurrr setrtrl Ion) upon iM Pledged SaNa lu, soar Fro !»'.tp ssoal and albord:rua m tM Nen d the Town's ounbndirp Orneral OClipubn Banda, 11]85 AM 'k9B5 Balls'}. In omMdim with it plrlgrd Soya Tea and u rsquvrd 6Y dry wdrnuga whrclt aWhol'ifa61M 1486 Bade, IM Town ehdl July pori4 la UN drbt aarriee, rwarvr wooed, and alrr r.quhrnaMa a uw tg85 Bah. h rrY Iwcal yw and. sty eax wcA povtabn, roar rna rrasr PLdped Sa1r Taaw fd tM peyrtrrt d Mr prmcipr d and N• Irrral m tM 8+rlw Bonds, CY vr++fl«r:q soar roars IFedged Salr Twrw W 7M htaorra FuM {r ddirNd h era Bond Olirunr). TM Bwr6 wrrrliWa an hrwoorbN and f ar N•n (bW reel rwasa.a,ity rn .xaa,.er 11ru i.n) upon Prr dhar PNdpad ` _ arwpl for the Frledpad sal.. Twa, paymrM d d» pdndPai d and atr.r..t m [tile hag aM1 br male Iran rM r aacaaY !a ugh paYnrrnt Ihelr err frrav4aabiY (and raalwivey) piadpad, puuuenl la tic Band Ordinance money] daPOSllad and 1a b• dapahW h • y,.cid h,nd d Yw Town pM 'Sand FuI~I tiro rdreh land MN Town hr oovanaryrd ull« 0w adnuna b pay from tlra pledged Rmmraa, a cam arMicwtl, fogthrr with dfrr rrraryr avaiNbN m ur Hard Fund IMufwa a pry wCrt dw ur pdnapd d and in, brwl m MIa 1989 Bwda, IM 1401 Bond. and any Add4law Bads Sr ddmW h eM 0orl ordrrnal• M adddlan, lhrr. N krwocsby .red ardxkey PNdgsd b tM pgmrd d tta loag Bonds, IM 1491 Benda end any Addafonr Boras Ir dafurad N lira Hard ordkranarY} ne.rva land IMr'Rasrw FVrd) rbtch veil a matntdrrd r a reawns6y rraarw thrdpn. Eacspt r dhsrwha agcdiad la the Bond ad'nwros, this Bond k eMkNd m the brNIL d Iha adFrarwe purH and rrsby bprll r mpdn- qW lard rederrpbn picr) and irlerrM wish a/ armor Barb .fwd and m pe kwe0 under tM Bond OrdiMnp, sp w4tldt ref««ga : reads la dfforplbn d Ihr riphlf a tM wvnrad IM 1901 Bala arl IM dohs and dliprioM d Me 7rwm. Thls bond if paYabte Hem IM Piadgsd Rrv.nwa, and 9re owrrr herd mat nd loaf b rrY paMrr p dMr frd d tM Tavn lathe pay- trrra d Ur precool d .red hd.raat on 8t4 pal word tM Ptadged R1vM4r. ITdwna. N made m th. Bond Ordklxxa la U» , . ~' ~-~ .., rrrgnp dhen, will rwprd b itN awloTy and appsorion d tM ... d tti tgpl Bard., IM nn'pl and dapoaiYgn of Ih- Pl.dped RwMtre. Mr rerun and adrr d tore awu,iry, Uw term .red farllroM wider wttioh addYmMi foal] PeYa6N fipn Uw PNdgad Rrrrn.rfe rtwy M Ywed, 61e rotes, ddir and obLgriw d tM Tam, aM lM rlgtea d eM avnr.n d ihs Bondr; and 69' Mrr aooapranpr d thin bond Nlr orrrrrr Mrad wwnta b rN d tlvr Bard adharwe. Tic pincpal ul end 1M htrrr 4n Ihir bond ]hall Cf paid, q this band la uanrfraba. flee from and rriltl4ul road b any tqufi.a Wlweart tM Town arl tM tripind a arty id«mWwerwrrw hood a uy rdalfa aaar- dafra, 7hN bred coos! hs rrgNarad h 9ta rem d Mra avrnrr w b bah Wh+c4a1 and Yierael M MN ragleVdbn raoolda kep+lay tAa Fap1eW h b4rf IonnkY tvih tM prwifbM dalyd hrdn and err award Main rd aebjsd to IM lurra end sore' daiona sat brlh h rfr Barr pdharw. No Vann Ir d 8rN bad a1rJ be void unlaee ntrdr ar 11re r.ylW etipn ravrade nvrlMrrrd r tM prhwlpaf d. I~ d Ilw Itapldrr W IM rpYr«.d awrwr w hN dewrrey duly adhwfard ks vwUhg. YM Blrle tiara FYaan dripltald N the Bond Ord'rurtaa w 'gwllhad iwaxarryA dd'gdlwr' iw ar purlAM d 9rclion 285(61(3) d Vr hlr- MI Rwrnw Cade d 1g8B, r amended. h M ludhr anii.d and rfcYsd If W N IM r-~ qu.elranU q tax terra been Idy cortTt3b viah by1M ewer Town dfran h tM iwanwd rte: band rata band .has oat a valid « dalipuay hx ant purpalr until Iha Rspistnr aMh haw manurly ei0+lyd tM oaltihnda d aulhMliarnrt Aareln W TESTIMONY WHEREOF, IM Tam Cued d tM Yam d tai Itaa aeurrd Ur: boM4 b br slpned and raraded h Ya r1YYM wish a mr cal a lwalmlN fipndure d IM Maya d tna Tam, .rl la IN dpnad, asaautrd and atbnad wllh a rnenrW V IepimYr aq}nalwr a rtes Town CNrk, with a ensnud a lacalmir hGrrsaion d tM srr d IM town .hb.d Mrdn..Y r q Ih• dry apr+YNd a6ava, +i rr (Yanrar a F~aain.4 Sipnalrrrl uaya (iIANUAL OR FAC5iYIlE $EAU ATTEST: {IYartud a FsarrrtiN SFpnras) Taws CNAI [End d From d Bard! (Fpm d RpiweA CarCTicair d AWCxticdim) ilda N 9rr d Ute Banda riwcrAsd h stir rd11n-nwrWrwd Bard adinrwr. and chi BarW hr barn tluy rapatared on Mr edf udim reoalda hrpl by tM urea«apnW r fTy7rlru Id sucfr Boma. CENITTAL BANK NATIONAL ASSOCNTION. r Rpuuu By: Araira4sd glkrr a Ellpbyr DW dAutitrrNcdiort and Rrg:nd'on: ... -, ' (EM d Form d fip3aaye C.dNlcads d N ., .. ~.., ~} {Farm d Aulpnrrwrd) Fd rahlr rradrd, UN udi«aiprrad IturbY 1aFY, rwpM «l tnMl.rs caw _ Urn withh Bad and VNrrby .. E , carmladr irl Yo- prBrta ~ enomsy, to tnrrafr Mrr can en Mr rraNda d tM ita41e+rar, vrhh IuN pcarr d rlbliu8an m W prtokaa, Dyad: elpMl,rw 1YuarrNrrd: Adger d Trarwi«aa: ~ -.' . 64aid Becway a stir 1aa FtlrdYbdicn nulr6ar dl NOTE: TM ap nature m d:a AarpMrad mar onrraerfand whh tM ours r wralM M tlr IoM d the wNhh Burn h w«y ~ rAtyrout d- bnrlon or lar4emrnt ar any thong' wlWrowr. EXCHIINOE OR TRANSFER FEES MAY BE CHAFIOED (End d Prom d Arlpanwdl (Farm d lrpal Opil{al GdMioal.) 8TA DF SX}LORADO G4UNTY # EA[}LE TOwrd OF vAll tEOAl 4PINICYY CERTIFYCA7E I, iM sarderalprrd Town Clark d Iln Town d VaY, in IM CouMY d EapN arl 9fra d falaradp, da lrxabY rd'ty lhal tM Idlaenp Ya4YOring Nor opinion d S'h«mn aFfou,rrd. AnwMyr r Lrw, [urrr+l rr d N9d opkNon) N avw, padsd and aonplaM Dopy d • drwrry raavlsd and dalad agry thrrrd m lYs 111 tflr nmrds d tM Tom in my dfioa; the a rrrnury erruvtrd .red dead oaPt' d IM opinion car !a• warded b • ngwMalNa d tM aipinr wrr• dWrn far 1'xMbwl Vl [hri rrw.adai Plld Illd IM ophim car drr! and iru.d r d tM day d iM ddirwry d and Payrrad la Ufa Baas d ua awNa d wrch Mda N car. W WITNESS WeiEq&l?F- 1 tear. caused b t>• hrnuraa aM my murur a klcainila apnalun. f-lanur a Facainik Slpriwe) Tawrl (Seal (End d Fenn d La9+l Opirriar c.rrabra) SECTIUN 13.Odwery d 1491 Bads and 0N• pwitnrr d Praorrtls. NTan 1M k4p1 Bond] haw rid eadun:ntrc~.f.drM .v, u,ea7a n. 4anap.r aka9 sour' IM 799[ Bonds to W dewrr.d. r arw drM w ]ran dew b lalra, b IM Purch.ar. m rrariPe d IM apraad - prlM. TM 1991 Ronde shall M dayversd Inrush dertwr:ndloM r IM Purckrel ]testy aired (biA aubjea 14tH porbiaa d &wlian S Mr•cq• and 7M Repulru hell InYiafy rrp:tr Ur 4441 Srlrtds rr ouch MrM a rtrrra u rlr Purdw« alwfl dV W, The pocreds d fl+s i891 Bortda. IndudFg wilMUl In:tripn IM accrued htxw tMrean, shall Cf deppdad pramAlly by the Toxn Manepr and shat W aacaunled for h tM id• laving eetanMr and are MrabY pledgarl Mrrrsfore, 6vl the Purdrawr d lM 1401 Bonds a arty sub rpwnl Ownx in w manner ahrl tYa resp4narT4a Ica tM appYcafion a d'sppse5 CY eM Tam o ery d to oBipsn d am d tM ]undo dxiv.d Irpm 1M sofa: l0 NI aau.d Inarsx, N any, noehvd h rwped d 1M 1991 Bonds shall bs arditrd b Isle Bond Fled b ba aYplrad b Urs peynrrltl d the Ip81 Bonds. IiB M angpd aqua) a 3255,500 d tM agMf printytel amours d t'rre 1891 Bad. r d Uw drv d hrtia} deFVry fhrl M ar1'nsd m Nr. Rer.nv FurW. Iii) AY rsnuhirp Waaaeds d 1M 1481 Bondr aFWI b asdaad b the foMwFrp apwirJ sal ppaeatr aeaqunt, hrnby of ealyd and rra6liahed b M Iowan r Ur 'Town d YaY, Cptaado SaNa Tu Rawnw Bond}, Brier 5887, Conrnrclrm Fug!' tp t» used, kgether cash ant dhr avaiN6la,tgrtsya 6awdaa b pay 9rf .ors d rM Prajspl Irduding coals trwidenld b flta luudlor d rM E991 Saar. Aar peymMl d a8 crass d 9tr Projsa, a a5r edgVate Y+rwL'wm dv«alaa a• made. any , :. d baNnce h tM Cdnauudion Fund shall be . M tM Band Fund and applied m the paymrtt d Ur phcpr d awl IMrrrf an the 7WI Bala. SECTION le. lh. d MevrrY+ h Yrmnr Furl. A. bloortr Fund. So larg r any Boris shJ ba Duawd:rp, ehlrr r b paroled w Ir+IrrW, Una PNdgsd RavMUw afir8, riper r.adq ba' Mr Tam, b d.praad h • apepNl and aaA.rata aaaud, Irrrlclorr aealsd grid rtehfahW by the 1868 Ordhiulo, knorm r M.'TOwn a Yd Nrarrts F1lM.' TM Idbwirg peylrwds steal M nudr from qr boorrw Furtd: - B. Bond Fund. F4fh Mrs aAaM b. oredir0 irony Mr Irroorrtr Fund b a fund created by lrre 1889 Ol'rrwga and Wwwn r tf+e'Town d Val, Satyr Tr Bond Frwtd' Mr b3ow'rg annunls; t. haul Paynwda. uMmry w tM 84rd Fund, ,.. M IM tins a.y d IM rronlh ararradlydy auawdlrq tM dauvey d any d IM Bade a .. .' IM lira d19r d tM nradr oM yw nor rlw to tM lint inn W p.y- rrant ddr d any d IM Bohr. wl:drvr Dan nrncartNra aria N ltl«, Y an+ourY h orgy rttorhMl' iMtelrrWN{ rrpweerY, lapdhr wih ar,y rrorys than and avaiaCls 0t«atore b pat Iha htrrt dw acrd payads m the Odrr• dire Bade on Ur neYl ecaceedirp iMrer pay. m«d dais. 2. PAndpr Paymxrb. MoMhy fa tM Bald Furl... en tic Sra1 day d Mrs month kntladiraH suvca:ainp tlN deirwry d any a gr Bala. a .. . rg on Ur tint day d 0rs rrgah one yea Mxr prior b Ur f:sl principal paYrMrd ddr d ~ d 1M Honda, wirdrrw dry N Wr, an amwnl in pod mw,wy ~'rNtalmartr nrawaary, Yopdtwr wih fury nvrNya Ihrrin arl arairbN Ihardon, b car tM pritcpa}.red ndrlYXbn parrium l any. dw told prysCN t>n 11w Odflydinp Bats err aY payttwd dry a prhfclpal pttymea data, Mbn hp brrv amwnimW N tM Bad Fund Ur so- Ufa artruM strarwy to lacy rtes Mx1 mrurinp irlftalnwrt d htrwt n pnc~ifal, a bate, IM PaYrnwtl rplrirW h er,6puyreph {1} w f2) {whidNVr & applicable] d this puaplaph Huy bs -. ..~, sly reduoed;bd tla requrad monpr y.mopd, .pan shall b. w soaked a such .n- aWM --. rrg do aelch Farrwl paymrd rice w prinipd paynwd arr. TM rtgrlsyr h tlr Bond Fund steal a card my b pay Br pin' opal d, p~ rdedplion prrian 1 any, and hr Ixrl m llta 9o,1dr u iM earlrr . .. rkrr. C. Ararrrf Fund, Srcond, 'carp[ r hrrrrhr povldad, Isom «ty manta larrwinrg In lM fnooma Fund Nere sMg M asdkfd manthy, b a asPUala aaooud omdsd by Mte 1889 adinarfw and Anoran r M+a ?own d Vai Bair TYr Raf•rtw Bands Rwrrr. Fund' w Yr1rplY,d any, which N nacr.arry n rlwhlsin IM Rwrw Fund u a aoNinuirp tfrrwa la an empun red Nasfhan du Rrerw Fwd RsgVFe- IIIrrA a mpay IM Nlur d any Bond Trfenra h- uxarga Pdicy Wan~~ra] avarp b such irur urrdar 1M lama d IM Bald gwerw IMaanw Poky In dderrtdninp IM arnouma required b M drpwkad r provided adtovr, IM Twvn slaty raaaFre oradY la ery irtwaararq ranhpe an Ihr dfParks h tM Nrrrrvr Fund. iwrtmed rrn tips on dapoaitr In the Rslwv- Fund ahalE rarlrh h MN Resrvr Furl catty Ur snood cal deprA rgl,da thr IArxFr.rm Mnwl DaG Su- tler 1T.qurMwd. hlo scads MW be Irtedr b 0a gaerw Fund w bop r tits rrtorayf ul'w Bard Reeefw IrN,urnoa Poky Ut«dn egwl IM Arwra Fund Requlrsntsnt {repardlrf d tM sours d sash srfcunxlWiona). TM Ftaarrvr FuM RWuir«Mn1 a1raN 1>• aoanrwWsd rrd 6rair.irrd r a mrrBnulnp rr..rv. a bs ussd, axwpt r h«dMk« provMW h errhr.giaw a rod F d Iha Seabn arl S.ction 20 Itrrrd, any b pwM1 dd'erMip h !M paymrt d 0re Rrirr aiPd d ul rice ird«er on tM Bonds nwh'trp from Ua faiun b aedd a the Brood Fund .uNr• gird lurch to pay said plinc~al and knxwf r IM aMa .Derv w b WY rM Irallx d any gal Rwen. Frtfurutar Poiq ant arrouma owing b ortdr Lsrf« afar Me Irrrrr d 0ra Bond Aearw Nlauraltoa Po3q. The Refrlre Fund Requ'rr- dwd elrea M Warlrrd croon {) ant Fai'bPr P•Y'M+d, whxhr d rabd mltturny a roan a~(w"rrj tl,r~dw«aana. dial ar~vation d~i?re Bats. In fiw d all a r portion d 1M maMyf r« quhed to b riepoailW h fM Refervs Furl bi' lltia Odhtrnw, dw Toren rMyd my tin. a Irarrt tkrlr b Lhre drpcrk • Bond fiararvr Inaurrerca Pdq h 1M Rsrena Furl h (VII a partir ac're' ladion d the Raasm Fund gsquhamenl: pmvidrd ltr any soar Bard Rwrrvs MauanuY Paicy sluff l>• payabN on rrrr dry m which nronari w8 a rrquked b ba whhdrawn drfwn hem the Rw«ve Furl r prpVldrd heleil, Upon deposh d ant Bond Rwrvr hwlrgs pofay h Ihr Rrsrva Fwd, Mr Town mat trrular hoMya equal p tM arroud payrWe under 9tr Bond Rea.rve IMwarrca Pafwy ]ran IFts Rra«rr Fuad and apply eucC monYys to any NwFd purPafa k dry . otlrtlalnad in Section 19.K d MN Ordinanpe duo of puma Ma oar f d any aerie. d Bands fro a IWI lundinp d fM fTruva Fuca In drr wtnuM d tM Rrerw Furl RequFMrd, lM maximum urount d lrrACreds d each rrlr d Bonds whidr mrr M dsrarritad m tM Rrrva Fund puraur,a to S.o- tion f4,N rMll w depp+krd m IM RrwN1 Funp won tr,e laauenw d ouch aerir d Bards. and PNdp.d Flawnuw IW W drpoaiad w the Aasmax Fund monWy w Iha Hoe War sun rwd- r. caNndar mar0r attr tM dab d hfuvrw d rush arir d Bade. Ihr rlrguM m dspoea n Iirr Rsaprvs Full shah our 9re Rrerw Fund pequhenxd. a. 7«mination upon IhposFlt b M+lur41' a R Dde. No paYr»m rwd br reads idd she Bard Fund. MN Refsrv. Fund. a ban. k Iha amour[ h dr Bontl Fund end tM urrarrV h Mrs Resrrva Fund IoW a sum d Nadi aqua m the ratio engu,a d Br OdstarrdNp Bala, bath r to prindpel and hlereal la Msir rnpadire mdulYFw, a b any reder,pdon dWe on rdridt the Town .hail Mv. axerohed ks corps fo redeem IM Banda tltan PrMtuldrrg arl Vwr ahx encoring, Fwkxlirrp any pia redelsWiorr pxltN+rrf th«r due, .ltd bah accrued and oat srxrued, h wfilcll rrar rrw+sVs b aaW two Fonda kr fn angunl tl laasl pod b ruck pdrrpd and carer nqu'varrwda atudl M card wNy g pay audh Y Ihr Garr aoaw, and enY ngneya in .%- rww Mrerad h rid two lords ,ray W wihdlawn and uaad for my lawld purpws. E. Delrayfnp Orllnquandw m Bond and R.aerN Funds. Y m soy rpuind rrmlhy tfaY- mMl rtda UN Twwr ahaN fa any raanm Fail m pet into 7M Bad Frrtd 0ra foil anwuM rbar ripe W sd. 0rert r arYgud alrll bs paid teen 1rr Bard Furd m arfcfr dW ]ran fM Reaaraw Fund aqua b 7M d'Rrrnas bdwean Ur amount pad and IM FuN vront[ w atpuWrd. TM money so wad ahaN ba raptaard h tlw firsrvs Fund tram Una Irv PMdped Mrnur reaeiwd Iha re red raquirrd to 0.. i. ~ appi'rd by M;r aed'orr, bad sadrdinp cart PaYmede required For any acb rtrd'urs d>lgmiau' prnled Inane+«. shat M empud egad b IFre amwd wiYrdnrxn Irpm the fTewrve Fund sltrl bd depoaied M the Town h IM Rnrw Furl no Wa+ iMn IwaHa month loom tM ddr d aVOtt wkMrawr, N d any 1'mr Brr Town shat Ia ant rerun IaN Ip pat inb Iha Rescue Fund the fuN urgua .bore ripuNted [coin 11» Pladped ROYrrrllr, IFIe ditfrrrrme be- krwn tlta ameuM Arid aM rlra amount w ripV- tded Mdl in a ike rtrrrnr be paid tlteraht hen 1lSr IM Pledpsd RwMIlw literrllrr rrcairrd red required b b app8ed dhrwiaa by M's tfrcdlon, fiat ,,: ~ !', a u+Y Payment raquinl Ica any r "-.:'~ . , nblpdbrta. TM nmrryf h eM Bond Ford end h iM Raarva Furl ahrl br urd aoMy Ica Sts PraPOee d AaYirp 0r' PdrxtVr err r 9 orrari h Flearvr F rod draX M [coed b pay IM Naar d rrY Uwl Ileerrra Inwran4r PoYcy ant rrgunte wvinp b arrah Mawr uerdx Itra Irma d iM Hord firenre hrurro. Pdiq; aarrided, hpwry«, Ihr arW malMya d any brM M arowr a Ur Rswrva Fund Requ'rrrrrnt orAntWrd wkh rwP.d b 1M Bonds m IM Rwxvr Fund may bs wihdnwn tlrerelrom arl uafd for any Nwful vurPwe; and provided, tutthar, the ury eroMyr h fM Berl Fund acrd h 11tr Fiessrva Farad h rr4rs d ac- auad surd utrcatlsd prirtcpd acrd hurt rr quYenrri. b Mr mpediva maluri8aa d lira OWataMirg Ralf mat br rlyd w Provided kt AuaprYrplt D d Iha erciurr. F. Raba1• Fund. Third, [hire shall ba dePoeded h a special aoooud oared bi' Ute 1968 Qdinarna and knavrr r Mre "]own d VaA S day Tas gevanu• Bondr Rrbate Fund' adorrr4 nquied bl Srctiorr 14610 d ihs Tfa Code to ba MFf until audl lime r ant required nbaa cayman[ !t made. Amawns N Ur Repair Furl ehdib. card Ipr IMpurpwe d rrrekirrp IM pryrrrnra b Ur Urrhed 81ras rrquFad Sea. tiara 14811} d tyre Tu Cody. Al l aYnounu h w• ors d Uosa raquirrd m Lr m rlepMN tMreir by 6fnion /44{F) d Ua Taa Code steal M wiadrewn end : 1 hb [M ktoorrr Fund. Funds h IM RaCal~ Ford steal na M aubj i to Ne lien carted 6y lhk l')rdinrge b Ma rxfad eu ampuraa ur rrqu'red m be paid b hre Uny~ Stales Trsawry. TM Toren rtay male +ePar. accwras h tM Rated. Furl h 4awtadion fn, the Nauenw d Addtiorrd Bwls. Q Payrrwnt Ica S1ttYadirds ObipdiarK. Aha Ma wrmra,sgpired 6y PusprripM e. c rl F d MN araion, Urs PNdprd Ravenusr shd M acrd by tM Town to MN PaYlrwnt d terror m aM peuipfrf d any •ubardhd• irrl rtblipevona hredl« rlha.ged b to irallyd acrd payabN Irvin ihs Ple aped Rwrnun, lnduding rasondrle rereaw thrdar. K the d Rr+rirthg ' .Afar ttlrrip Ne paymanla nqufrad b W roads br [hie Shim, any rMUhrlrg pbdg.d gevrnun may br wad la ant lawiut purpose, Ndh]np 'n [h: Ol;rwru steal vrrverN Mrs Town fresco wNirdrarrinp Irorrf the lnoorttr fund amouda eoFrded by IM Tam and wbapasnty delartrlhed. punuenl to IM ~ 8dr Twt aainarrcw, m M aubjsa W ~rralid daFn for rdurlr. SECTION 15. iYenud Mrrynialntion of Fonda TM land] dwipnrad h SWions t8 and 74 hared shall Ca adminiatred r idwwf aub- ~ [o IM Nm+atioM scrod Fr Sed'on IB.K h«sd: A, Buried and Apprgxislbn d Furle. Thyyggg~~~~~ fuM pmuidrd to mare [M IrymMa apadlydr~ 9eaion 44 hared w h«aby _„ - .. Ind sari PuywM, and rid artglrMa ic+ roar Yw strap ba brdWd N Yta annwi bw,iviel W otr on ardlruura w nrwwr b 6r adop- ted w~pawW fy IM Town Coundl h e.dr yw n+petliw/i whie any d tM 19af ]dale .ah« m principal a htrrw[, w OrAradnp rand rpaid. No prortrkn d any Cwntkrlliar, rdWe, aarlr, ardirana. rrdution a alw radrr a rrorun waded ally Brr Yfuartar d 1M 1401 Bade atoll fn any nrnrrx br oonalrtlyd r IFnFed o btpairin4 rltr da3yation d IM Town lp krfp cad padam rice coveMMa oaaeiMd ks MN adinwru w loop u my d IM 14pr Barrio rerlrh Oulalydlnp and urrpdd. kdhlnp Mreh teal pch,bi IM Tam Cwndl, r Nr ado aPlion, Irpm appropWinp and applyYg dlrar ludo d lM Tam Ngely avdtebFa fa state purpose m tM Bond Frald w fiwrrre Fad !a 7M pumow d prov"dinp tar uw P+Y^wy d uw pdnppai d, h- lereal m aany pnmiumr dW Wkh rasped k4lhe 1991 Borax B. Plaxs and Tvrw d DePOaif. EacA d 0ra rpecW funds aaard h SeWm ll Frard and rM C4nstrrrpim Furd wrdad n 8adion 13 hrovf aha3 W 1MnWnsd Lt a C. IBartk r a torch aCmuM NePI aeaarre and spar! iron pr dMr aa.-amts a ford] d IM Town as lrur axounb sdey fa tM pulpar hereh dwF~ Haled threlaa Fa purpwr d [, ... a money., rwthrp harsh pmwnN tM oommn- plnp d nroMya r4mrrmrd to n y two a flue such hooN aorouMr peAahinp b tM PNdpW Rarronun w [pouch funds and any rAlrar furls d the room to be rlrmliahsd und« Dire adrrplw, Such boric xpunl ]teal IYe aontinuousry secured to Iha fulled extent required by the Isua d IM Slate for the aenurirrg d pubGC funds and slap M i.._. _.~...,! and red wilFlravra6a b' anyone IIX [M Pu+A4fe dtrr thin {M twPediw deagnafed purpMw d soar lunch a aocwma Eadr periodic PeYrronl steal M Derided b [M ~~ acppw6 red W x 1trr, tM ride lrrrt h dalr ahrl b a 6ru~~ a 9rrrday a s iga hVpd.r. th.n rpa, pry,Mn shat a m.d. M a pave iM mxt pregd'nrp bw'vwaa der. G. hvntm.nl a Fonda. My rrwMy. in tM Conslruatar Fund aeafed puntant to Swoon 13 tiered, card any moneyr in any fund w- ta6Yshed by Section 14 a this OrdhrrM met be delws'ited. tnvpeted a reinvested it any rrrfnMr permNted by ave. Sacud:er a obFpdionf p.rr- cCassd u ruaC to invwlmeM steal rdhel t» attryed 1a redemption d dry tine d fee vdw by the hold« 0rsred IX tM ppion d suds hpNar, a shah rrwae sf ratr time a Yalwa u skirl nrwl Heady coincide with IM eapeded need for morroya Irpm she luntl in questim. Secardliea a obipatioM w purMased ar an irnarrMnS Honeys in ry aueh Fund shall be deemed at tiMS to Ce a prxl d the apPtiGafale Fund. TM Town steal present la redanyNion a aaN cn Ure pavarrinp market wy securitNa w od'galions w purchrad r an ina»slrnenl d ,rrarya h a piwn fund ' i rhal bs rrpswry b do w is ordsr m povide rrtuwys !o inset any rsquird paymea w VaMI« ]rem such land. Thr Tam ahrJt Mw rro otripelion m mAa My inws[menl a roimeamrnl hsraundr, unbaf ant moMya en h«W and aooarnbd la fr dry err epmunt axdeed 35.[100 and r Nast 35,000 UNrin veil red b lweded is a priori d red Ira than aiaty days. In war avrnt. the Town rhaA inwat a nhvw opt Nra Than ardatanlNly rd d rM allnUnl which rA red b- needed during soar rhty day period, card id arty nvwya m dalwai Ia an lacer tYeedlg aovarrm in a Carrmrcid Btp~a, rvlhod rpard m aQrsifar cacti money] are rvdrrcrd M' • aeailicaN d dspMh w ctlrarwir, pundad to Uli Sermon 15.8 and 6ection 15.C Mrrd: bt4 the Yavrr N red required b InYefl, a w m Inver h ouch a lrranrw, ant nwreys apoouMed Ip hrwMer Y any cacti InvwlrMnl crook sure rraveM tM rovsnanl wncrnip Warapa h Sa4Fm t9.K hared. D. f1o Liabrfry la Loear k+wmed h P«1m» FV Trma d Ord'in.rlve. keYMr IM Town n~ ., any dl'ralr d tM Tam rrdl M labb a r r abN la MY for rewnhg Iran any LrvwlmMt a 'nvwlrMd made in apeordana with thin ad'Ytenos. E. Clrradrr d Funds. Tlr nrolreyr h any land a axwm Mldn trrorioad shat! condr d awful rwMy d iM lMNed Strw a hvwlmsn4 permNled by Sadion 15.C Mred a bah such rrgMY and ouch hr-Nrrrnb, coneys depMYsd N a drn«nd a lin'w dapasFl acaounl it a rvidan- trd by • ortiliode d rtrpara d a G. ~ I BrA purauaM m S.dFxrf 55.8 red 15,G Mreaf. apArwlWrly a«wr.d aavrJrg ea Ilr Lvn d lire Stds, steal W drern.d Ir 1uf money d ur tlnied Sldw. 9ECTIDN 18. LNn m PNdpsd Rswnur. Tlvr 1901 Band. amalilub • pirdpe d, and an F- Iimn1 own +NiN a llrs~P ~ Yy N .adpwsair. cash IM lien d Nr t4~89 8andf. TM 19p1 Bred w.quaaby and rdr>ty aeprrad b1' A Nan an IM P6dgad Sep. Ta%. trot Ih. t4Bt BuMa, h so- oardencr with IM lequ'rramMkf of the 1865 ad'nanoe. any ©rlrilrM an Irtwocabla and aamW and subordinatr fan i~ red rrweYariy M a%duaive second Fail [Pore [Fla PFsdped Sato Tar. such ien Ming ram,d aM ruior- tl'nde b CM lien d iM Town[. fp85 Bads. 1 mnrt«4bn wih eM PNd9ed Saba iu and Y rJ qu'rrd by tM 19B5Ordinance-ItN Taan 41311 ful provide la tM dad rrvice, nerve aaoaun0 and dhr raquironwna d tM 4085 ROfIdY in any F;- cWYear ord. any aksr such proviabn, may urn rru.s PNdpad Srlr Ya%r fa Ifrr WY^rxq d tM M%I sueewdrg pdnabal payrtrlrr ride. ], lirduo0on d AaynteMf. N pFx b any kwr• Sea awyxt pcerJe _ .,.. :i>,f ~ a '~' ~ 5 {~ tq4:~QTeSa_f;.'~P~~}i'f,x'.*r'.5. .a, ':i ~.~.ae,._,~'ff ~~~~r, -~ , rrbrlYl i fl iu i ~aillY ~~ Nati7 $.' -.~.. . ~ ua ..,I..~...,..,5~,.. " .. ,:..::..,, ,:.u1`.k'r: .. ~-;.s ,,,.. ""::.:., .... _ ... '! d Iv :. .as ~ P. ... 9 yi .t '~{ ,,, I ' J "~ I _ ., .. .. ..... .. .. ... .... .... .,. , .A. .. .. . . ..... ..~ . v~ . .a. ,: H,3',r:.df ~'drttaeh '. f-..:+su..'4~.:3xirirar. The VaR TraH - NoaJemlJer 22, 199 ] 6 F7rYrR preiripus p[{q6 tlta glnapst d and Ftlrrau pre Ute 1991 Banta, 4Y IrMrrrYg slay, exeaaa PkdgW 9alae Trr ~IM Intcorry Fund. lint 4991 Benda oomlklM i ~ and Bnt 4n {6d rtd rlecr Wiy an udoalve lksl fan} upon IM dhr Pkdpad Rrwrtlra rap la tM Pkdpd Briea Tax 9ECTgN Y7. AddNImN Gonda. x Lim+tlbrr Upon Mauartca d Addaland Borrdr. Ndhlnp kk~Na adlmnwa shall br om• Woad h suW • nor r b gwrrll ills :- wanoe 4' dr Town d additiorsd Gonda «dhr obiptlxsra, paystlb Iram ell oarlidl,g .Ilan agar the Pwdpad Rer•nur m w praVly wih tM 3ir1 d tM 19gt Bpnd. pM'Addithvs•I Baa,'Y. Soda Addibnal Bonds r,ay M payrOy sdey tram Pldpad Rev.nur r they may M paysby Iram Pydped ilnartlsaa aril utdhr rwMw « land et 1h• Town ('Addlllanal Plsdgad ~' '}, Rep W k•s d wlrihr pryrlbla spy. Ir ham Plsdgrd Rwenuas w Iram Pwd9rd R•rrnwa and Addhbntl Pwdp.d RwMUer, Yeel«• any such bade a dher d,lgatbrta w ad}ggtrd a adury :sued tM oordL 11on chalk M W{rwtl; 1« tM Fisal ..r Inn r1rdW.y praadip Yr ksuane• d cry Addb tbnr Batas. dr amaud d Pkdpsd Rwrnur h eudr F:cW Yw rant goal «posed 126% d tM Ylaxhxlm Mrrtl paW 8srvioe Rpuk.rd an IM Banda ILicl+dinrqp [M Addhional Bartdi opaud to W iMwd} and 1M tlmaunl d led9+d Revnl+ra h suds F:ql Year meal r V « µclad k4lYA d Use AluFrlwa Mnur Dahl 9ewlar Requlumant on Ihr Gonda 6lndudhq dr AddNimal Battle Puswsad b bs iaswd}. For lM pwpor d rliuylnp IM ela•nrrlFard 425% teal ell 1s0% lrt, cry law row uluirp « hrrhsr klstoa•d, wA:A w9WY ~... ^ Pal d IM Pledged RwMUr dun tM Fkotl Yw Psoedi IM rsuuu» d brwny ^^ prl dd tM Pl.dp•d RwMU ~Imy mrdwlry prig la IM :auarrw d Addignr Bade, w try kta•aer h tlts nos d arty 1M itstdclt ; k U d ur P40pad fi.vrwaa rd,kfi krpoaad dudnoo Iha Riaoal Vaer pnaeSag tM kaoartoa d Ad6Yknal BaWr « y eudl Naa+..e wnlldt i b M krvoaad Ftr• madiassy qla b qre kwatws d Add'ibntl Bad. acre h• oarwWsrrd fa b rLLrWad aHw m tM emoud d IM Pwdped R.rrrrdr µ d ouch tae a hwear had barn in •x•d fa IM F al VNf lrM1tadla{ay Wudin9 tlr Iwwntr d ouch Addllartr Bade. Mry Ir which w no Nkrper h •H•cl r the Ilrrla d bswwoe d dr Ad- deorrl Bard. shall red M dlrld.nd a par. par d WMhSna autlr tens, My Pladp•d Rarnsnua rrhloh la rent • lea .hest M oanaUred airNany for purpesr d W:y[rli auoh laelc Y tM adirroa w4sorleGtp • a«tr d AddF "tiund Benda wit pladgs Addkbntl P1•dpd Rrrrtur to doe Benda. ut• •alhnr•d adri d tM amwd d rlpYt AddAloetri Plrlpad Rw.nur may b• aanellderad M d suds levrnuea had 1a••rl weiral be tM Irl Fwr~k Y•r Ftrlydiury - ~ Br:euwe d ouch AdMiaW Bonds. B. GilNfcate d Rarrnur. A lrfittM oe,8loa- tim by • artki•d pudlo aeaainlen woo it rrd r sv,ployr d Bw Town that N• rpuk«rnla d pragrapA A d W sreion have hart rlir steal b• aa,du.trdy pnrunrd sa M rwwra• h dd.rrrtil€np dtr did d Ilr Tawt to aulAode•, :sty, a•1 and deftest said Addhiona Gorda w • panty wn1A Illr Ip91 Baxk har•ht wlhafx•d, C. 9t4wdin•tr OW altar Prmit.d~ fidhhtp ti Sh: Oxdlnarro• M M oorwln+W h such ^ ntannr r to pmrrtl SM fasuanc• LY lit Two d edditnnai abYpeliona PaYMrw Lan grid rare. Wtdinp a Iwo upon lM Pkdgad RwMUr aW «dirwl• a jmia to the lent d d» 1991 Bodo. D. slgwk.r ObeptlloM Prphdled Ndhisp h 1hk Ordnance thou M omuru•d /a r to p•rrril p+a Ywm b hrealw iMw dtlipulom payday Iram tM Pwdpad Flwwnun Mv1n9 a I'rnr Ilr,.an prig a alpr b IM 599! Bonds SECTION 1S. RruMFg Od'grbm. A. 4rrtaay, Y r any IF+r Wr IM 799e B«da. a arcy pM 91rsd, shW My 4•an k• wed aril renteFt a,lr4ndnp.lM Town Wallind N d•ureby b rdurd env Oduendhg daipatbn peyabl• tram Ih• Pwdpd R•r•nws, aid . daipallorr. a cry put Uwred, try W nalundad, subjed b mr prakhm d Pupr•Tll B d thw S.didn, A ltY tM dliprbne to M ,doodad, tl Br Corr d th•F rpuired Wnrd•1 1w p.ymrd, aAsJl IMn ratan a shill 91M b., ralieblr 1« pli« +rderrpilon tl Ih^ 7awn'a urNlon upon paper oa9, a ipY LM aura d dr ublptlbrr b M rdurdM and Bad Irtwnr. Y Bad hyunr hr s«ed 11nc11 obfitliorw, mnaard b alddt sae rrdr and payrrwd. B. Prd.dkn d iJbtpatlam Nil RdlwAsd. Any rdundlnp ebdgtlbn• parable Lam Ihr PWprd Rrvenuea steal M Wed wRh awh d.e.ia r Nr TdM CWnd fMY praWr. q ibarttgg tore I. no FYarlnnrA d m corir.dud oblkgalkn irtpred upon IM Torn by argr pnawedirga wlh«ix 9r kauann d cry wr rdvnded paddi d iar paY.bM ham tM Pkdgsd FWrara; WA w r cry 1901 Bwd• w Owtn6inp, rdu rep oblipadom payeby Iran ills Pkdped R-raair maY M W and m w perky with tM waafunlad Bdtda ddy w: (11 Prig C«rrd. Y1te Town ikat rsosMas tlw antl d tM ovrrter w aerate d dr• nwduayd fiord. and Bend (mar, k Bard tenant Inured such d, 7. « (21 Rsqukemraa Nil ktaw.d. TM dlrrld- Iro d>tipriom do red Mtasre by own than 125,089, la any Food Yrr prior b M YrArdYq IM yq rtwllaYy des d anY waafurdad Bantle. tM WV'NW PI^cPtl a+d birar rpuprnlMk t h ouch rdundinp ablprime ,red M any Qubtandhp Gorda red n•lundW, antl IM Iwo d any rd.wWirp tirNy d.Fpalbna an tM pwdp•d Rev.nur w not rWad b a hiphr gbrny IhM the GM Iharwn d •r+Y obkgnwm IMr•4y rs1„~esed; w lu} Erwrgs tier. TM rilumlhrp dillyrkxr ue :cued in cw,plirnw wiN pwegraplrr A and B d Section 17 Mr•d. SECTION 19. Prdrln• CwManla, TM Twm hrnrby edlNbnWly mvrwrtb and apr.es vith eagt snot wry wow d tM t9pk Bonds lhr: A. Ur d tgpl BorW Pnooeeda. TM Town wl[ grcead with tM aenatrudlan d tM Projnld rrlhud delay rd with des dilpanor. B. Payttrm d 7991 Bards. Th• Town w+1 pnalpty Isay 1M princpal d aril Inlrwl at rrwy 199t Band IMUed h•Iwndar end arw.d helety pre khe drr end In 7•ti nrrrW apaol'led herein a,d n said 1991 Bonds umrdllg l0 1M uue mlent and nranhq tented. Such principal and ,nlrrsl : payaby aokly Iran tM Pkdp•d Rvrenur. C. Arnr,dmam d C.ndn Ordinrvre:O b Ennosa sari Tµ; brginrd d Caransd~M Solar 7µ Ondlnanw an h ful taps ant •Hw! ud haw rest brM rePealsd a arrrnd•d. Thor Town ,ova red raprr a Mrnd soot Bake Tea a• dherrcr N My rrwlwr wtlidl Would nlinit:h tlr d Uw B,Jee Tw by an arrteura whkla ~e „r+.rl.W w.«..y Wri m• dprrt. d tM ownten d tM Bands. TM town sgn..a Ihtl ry tar, ardarrre a r••oYnion d 1M Tawq N eny mruw aMetlinp dse Pwdpad Ratrrtlrea « the _ Bads, a alrrwisa sVperteinl,g thrrq ah•1 nor bs rspaakd « dh•rwlse draay «Ydivly mWllsd: a„M manor Y b mrMlWy adwr- a.y ahwi +^Y Borsh Cu4~rdlry, unWt tlw rr gv'rrd mnard 4 aMalrrd, W r Pnvidad h Sedim 2Y d Me adirsa,tr: NotwRhslandrg anY dhr Prarylon d the Ssdlon a Ihr• adFlrrr>., tM Tam that rdun tM rlplA b nWn dwpr, rithaul arty awtsMt d Bwd orrt•rs a ills Band frrurr. ti 9r Salty Tµ Oldywscra. a enY adirwto. al . , ~ thxrb « b suheuluBm 9lrrdare, oabrn:g lM we d goe••da d IM Pkdped Stlr Trr r.m.hhg si%r tM arrr,ll requ'vMwde d W «. dFrsno•s authavinp bwd• p dhr arwrYlr PaYaby Iram Yta Pledged Sake Trsx, a any pa• Ibn Ihr•d, haw ball mat; « mrswrnig dtrr pr M swpicaGRy, •x•rrptlMa, adminktralkon, cdwpHhrl a enl«owrrd d ill 9aW Tax i uch dlMgr d0. red nrl•naly rhwaeiy aHrd ar snotty la tM Bonds; ba 1M Toren •IrY red nrduq lM prrad nte• d tM Pkdpsd Bows Tu. wiShaA tM reorts•ra d tM avrnws d day. ale prlaenl IBS%) b apprepa4 prlncpal amount d the Iherr Outuardig 1901 Bonds a Bond b- ar (whiMevr : ylpropriua{, r provided h s:dlal 2e d tn: odimrw., TM brspoirg mvrlard. an athlaol b oom• peones W ills Taws wih atilt. d cowtt d dare . Parr judwidnn aonoeminp IM v+WNY• wrt- sHutimuAy « calartion d auoh fax rwMtrr, My fsp: Wien d Ilr uLLd $tarM a Ne Stall « any rapulrion salter .Glatt lakM bV dt• I•drli gwrrrnM a any Stw apenoy « ry pdiacal bdiviaion d tM Blot. wnnnl to auoh kyi fallen, h tfra rrdr d due Poear porwr Ihrrd For tM plrWO w•Yrue, wltidt b9iaWion, rrquldiM a adkn appN• b Br Town r a Colorado nary rule city .rtd IYrFts d dhMtif• AH1ibAS IM emgxs d auoh tax rrvea,r des b Br Town. A9 d IM Plriprl Rwenlwa rruhinp Iram IM irrpoeibn aril odlactim d 1M Salt Tax ih.Y tr ppjad b dlr paymwa d tM pdn• opal d. Iderrtl m, .red r•d•rrptlon Prsmlum i ant. d a1 wwrNir payable Iram dr Pkdpsd RavMUU, int9,d:p eraN (hard«•, Y pw;kd tnan.ka «in My inatttrrrtaill aylpknrw. W d arterldatay herool. D. Od.nM d lrgrky d P{adp•d p•vrtww Than h rtd panting a IhrM•nrl anY ^ W, so- lion a procrsdirg apalnr a atlsolFg fhr Town tyd«r a a Y xarak rWrra. adrdn:rrefiw aprtq a stet q. r adhodty which d• !as rM Yalaify « ygaliy d Ihw Onelrr,wr, a kM Bake Tar adaranraa or dr Frpoailicn and aAkdixi d dr• Santa Tu. My d tlse Tnrnk d,igalbm Yndr thh Ordinarroe « Ny d tM rranfadlans oonknsddod bY' Sr:a adhuroe « lM Gaye Tsx O : . TM Town shall. b SM rartl peminl•d by `a, dua,d IM validhy and fepagty d Wia Ordinarior, IM 9air Tar and d1e 9akr Tax Odinarlcr against Y cLirte, sVNa and pr«wrdirps whidl wwy d'midsh « isOaF tM Plydp•d RevMUas. Funhrmorr, IM Town sl+a11 enrrd Iron lints b lima tMgaiaiwr d any prdlnartw «resdution d tM Town. r n•nsaarY b praYwa Inyahnwrn d Ilr Piedpr! Rwrsn« r required to meal Iha ginl.iPal d hturl en, end pr'wr raderrplon prrrrsum- l My, d ant 1991 BorW vdran des. E. Funhr Aasurvor. At My and sd Solt the Twm .hat, ao tar r R may ba alAl+aiaed 4Y d 6m~rtla IM «e rsoord W ardF ~~~~, ~wch iur- IMr Frswnwnn. acts. deeds, eyancw, a+fynmMU. lramlera. Wrr dowm.nta and aa~ w anpes N may m neoweary a drinabb la sh. brllr retying, aonwYag, 9ranlirq, µupn- ' Pend canlirmirq al aril airqulr iltr dphta, lM Pbdped RwMUr and dhr funds aril acccuda hnebYNedped a rslpmd, «In[.nded sa b a, or wllkh IM Town my hrrWr b.oantr twuM to pl•dpr a to pin, « u rrry b• r.rmabw and requbN b 7 orA tM punpoar d eh: O,d;rtarwr. TM Town, acting b1' ant INmuph 4 aHban, a peltsrwtaa. M•d tl a1 thw, b tlr r- krA parmind by krr, ddrd. Prarve and prdra IM pkdpe d a+k Pyepsp RwMUr and dhr Furlda ant •aoounls pbdped hr•vndr and a! IM nphb d wry amen d any d tM 1991 Bade agY»I V claitr and drnutda d M Pr- aaw - F. CadNbna prsorisd. llpor, llr:suarts d y d IM 1991 Bonds, J oonditiom, ado old mFg. r.au:.d bl' dr c«IrNutan d Iwo d tM llnRSd Star, Iha CAnalildbn « law d ut• Bless, tM C[wlr a Ihh Ordirlanoa. b r:k to tear. I. aril to Mw b••n pedwmed b a h tM kauartce d IM 1991 Ronda ~Mdl uiek have hasyrnad and hove bun prl«n,sd, and IM 1991 Benh, t p•Urer with V dr.« obl+ptliorr d lM Tawn. astral m Invrr try de61 «dhr 5rtthalion gesaibsd by lire carulAim d low d dr Udlyd Steer, Ur Cmuildat a lotto d dr 81W «tM Chrer. d R•eade. 8a bop r arty d lM 1991 Barnds nrrwl Odrandinp, prepr lsaolu d remrd end auvodrd rril M kepi b/ M Twwn, separeta and open Iran Y odes rewr4 aril aornunb, shnr.- kV .. u1d domed sxdtiaa d aB hansao- liar rlrinp b 1M RwM1rr and tM halo «Wd as oentiwad by Nk _ :' H. AudL. F}re sewn lunhw ap.r that A w'II. wtthfn IAO days bWwirq IM dot d .silt fleoal b 6r rtrada Uy aerWied Pvbia aaoauMad, xho k nil ~ d dr Town, showing tM rrwnnrt and rkprndNurn d tM Pkdpd - . TM Toren aprrr b sooty Iha awvw d say d ills 4991 Bade b revises Isrd MPY aliah rdlt antl nperb, r dw Tews1's dent, tl file eplrl Capk• d soil, .dive aril r.pala veil M lumlehed b Bard bwrr aril dl• Purolrar. I. Prlan:g Ouli•• fM Town wei luthfuty and IwrldueNy pMam al duties wrt rMprd b d+• PWPad Rwrtlrw rpdnd by ills Chrtr and IM iulon •M lswe d dr Swl• end ttr wdlnsrrae artd rwolxllom d tlr Twm, laiwlFg I,d not Irrr•d fa tlw q,4r col.dlarl and eda- osnrrll d tM 9rlr Tarr .red ills Mgr.prubn d 7h• Pkdp•d " and lhdr spdication to 1!r rrpediw lundr hrrah dwipnalyd, J. Ql+r Lhrr. As d dr data d iµuu,ca d N• 1997 Bads. dhr a,•rr IM t9S61Yaads .rd the =959 Benda, ehu• era no Hum ar en- wmbranew d arlY tendons wMeeossv m a apainn argr d the PNdped RwMwa. K, Tea Covanwlnl~ rtes Tawn wvananls Imo 1M ben•IS d the Reyrbred Owners d the 4991 Gorda that t mH red fates My ad]m a a1r la tike any salon rmh rrspad ro tM 1991 BwMla, IM goc.•ds mr•d, any am lord. d tM Tram a My ladltr I'urnwd with Iha Proceeds d the 1991 Bards A ^uch anion a ont:sion (i} wouu wuu 9r• FIe•rrl m lh• 1994 8wsd• to loo. ha axcbsim ham pnosa inoonr la fedr•l Incanr tar. pwpaar uaM, 9aciwl I~ d IM Tax Codr, ¢B rrouN our hlrrt on tM 1991 Bade b !ar is rxchnkn Iram WerrwMS mrnlrtµn kaa- abk hemr r dd'ned in 9rlion 65i41[A d ell Tu Cadlr nospS b the rtad aucA 411rar h rr gvhad b I» irrkrd•d h adjytrd awned ernlnq adjualrc•d ...". . b arportlklm undr Sty bon pp d ur Yr code 4i cycnAar'rg aapontr atrnrhle mFtlm+m taxabw inoonts. « (Bl would oauaa f1t•rrsl on tM 4991 Gonda m lose L sa• station ham Colorado taraby inc9m• ar Cakxado alrrnabve minimum taxaby lamrr under praa•nl Cokndo bw. The lanpoinp aavMayA shall [etnYl h foil loft rd rlad nd- w1lMtandinp tM Paym«d h IuN a dd.µanM d kYl• lppt Banda oral Btt day m vAtidl W refga- tima d IM Toe» in luyilig tM shoe. oovenruA underlM Tax Cod. artd Colorado law haw bean m.L Fa dr pulpatr d 9.dian 28s(41[911BY d tM Tu Code, IM 7orm Irraby dripnalr dr kg91 Bend. Y gwlllW byyxengl cblipdione L loco'. Eablartos. 7M Town will mullah w wmads idanliy and rlrMw M loop r r1Y d 61s 1891 Gonda r•n•Ikk 9taalandina luf kaa andhar 1lakbaf arbdivh4at fry aprrlan a I.Y au ©aada to IM dd:y ryivllpea. Pow.ra, liabllifra, tl:ahiRk•, irrvrunNies u+d rights d t1r Tcan and k odipr•d by Ir• b resolve and di. 1rNule Ilta Pledpsd RavMUM In place d tM Town. wiltwd mobnrlY adverary aHaginp 7M gh^w9r end nights d My awrtr d any qa• eiandinp tflpt Banda. YI. Prlmtvnc. d Ddias. TM Town Iril laid,. fW and punduatly perlam a crrae b bs 11ed«• mad all dulin 'Ih reapaot to thr Grou Re»rwr and IM Puking Far:W:e regaled a rM law d tM 9taa• rd IM rrdWiom d ti,a Town. htdcdkly} wlhat lhtiatian liig and ooF I•ctksp .. and •Idlicl•rp aharpr fa ar- YiaM rrrdrred er iurnish•d by thr Pa,kinp Faciiir r hrakr gavkW, and Bt• PraPer ipr•ptlbn d Br titan R•trrls,•• r sM IaN in Sad:n 14 hrrd and dra4 Itt>pllWlon b d,• rnprdivs fu,d• r hewn providrd. N. Fen, Raft soil Chrgra Sa bop r tM 1991 8onda autho8pd h•win •maln Owatendinp, tM fawn wlli caws to be •alWlhhsd, krlpet•d rd mltlnuinrd such r•a.asmy testy rtlr and stet duryr Ia Br a• or olMrwiu In rrpsd d 1M pukinga Faciiir r rrl Pravid•!n each Fwcd Yrr old. titled Groat R•vsrtws arflicit W(•eBrr wih dh•r Pbdpad Rewnltr ahW W auha:kd; 9Y fo pay da. G•rrrrA Oprahrlp Exp•rrr; and iky b pay 1M amwd requr•msrW d moll vtl d, PMtiwn i try, .red ktisrrt on Bla Olarard- FW Banda, ktdud'np arty rplird or.di b ills Rrrrw Fund arW the Pwbal• Fund Bach Ian, nu• and eharpu aha11 b• teat«labl. aril jnl tut Inb aocad the root and raYr d dr Panting adflir and rho oak d uperatlnp and malrtlalnlnp them, d Ih• trounce neawaary tar Ur rrinrrwd d ai bprlda +,rd any dhr dalgalbn• payable hen tM prose nvuws, accrued Intent sharwn and any dwdaw O. Prong Cdkdbm. TM Fern moil oauw dr Gran Rwenur kb•aolyd•d pnar,ply and aaceunbd la in ba tondo u Iwrekr gwided. P. #IainlMarar d Parking FaciNip, TM tow wit d tl} limn nrinaFl IM Parking Padhwa it good repair. rrorklnp ado rdr:andition. moil con- Ilnualiy admldabr and apart. Iha parking Facitwt, and hen lima b time wiH rrnrle LL m•dfd and proper repairs, renewr• and d She Parkig Fadliiea Q. Oiapoad d Property PrehLAed. ExoaP for My kasa «dlrr ripN d use !a Papa rontab a dlrr dryion. tM icvrll will red s•i. mmgapa, Pladp• a alrruss• Mwmber. a it My maaw dispou d, «aArw:• d'rrstl•, ur ' P.,1dnp FaciiiM a any parr Iher•d, anti al 7991 Benda rho! have been paid in lul, both pdncpr .red Intr.a, « unwe gevtsbn hr. Aran mail. IMrda•, rxwp u Pno'ridW et 9ao- tbrt 19,R Mred. R. Oispasal d Unnrraaary Pnopry. TM Town may rill, daaroy, .iwdm, dhervrise d'r- pw• d. a a1w n My time anY gopenY wren glulg w part d drs Puking Facie'r• whkd, shat Mve bent replaced bs' dhr prap•dy d u least aqutl urea.. a rH+idt .Full 0µs b W reset. eery la tM etliard operation d the Parking faeYlwa, a whch mod red matrwly advrrsy Wed 1M r,rwrra d [M 7991 Bands, A tyrant dn•rminel'ron by the Tawn Ihtl !hr Groh RwMws Wii M wtrvdam b rrreet IM requ'rr mMk d uua Section 19.R steal M caaduatraly drrmtined 10 b aoaurate: la9uld•d, hwewr. Iha/ h ur wem d My salt a dhr ca,ltprr adad 6alraeiion r alwrsaid. Hr prxerda rewired m soil, diapo•Nbn shad M o•di!•d b tM Band Fund. S. Rn .red Etlsnd+d CwraQa InwrMa. TM Town shall ecyuin aril rrtintan, a coast to M aaquFW and mai„ermd, lire end •aterd•d mrraga iruslrelrws m LM Aaddnq Faai'tir in amwda tl kear alAFident b golds for not loft than lug rewvery wfienrvw the lea ham paik Fru+•d againrt dcr red •xce•d ratty prceM I9lY%1 d IM lull ~ ... valve d the Puklrg Faciiiss. TM Yawn, r lea election, may Prov'Ide for audl tin rd ratrdW .. ~ insuranps on H+s parMYg FrdNwa paniry a wlwly by retort d a sap-imunrtos Aug µ Provided 4Y' applc.by V•, h aprnOfanae wih Br requkemMtf hared. Ar,y suxh sek•Ynwnrw. a}ta9 tr derrrd to b• hrurancs aoY.r.q. hrrwndr. T. DIlw hiainrallor. TM Town tAal puraAr• and nrirdakt 1n coratadlon >YAh. but red rwwt- miy 41i•d b. ill ParkYlp Faciitir pudb raaxy :rurartw ant ~ .. ,ion InsVlrKe in ouch r9nal,nAa Mil b alidr ailed r rntay W rptkad undr Iha law d Br Stw «. in dr ek•rto• d erty Sttl• rrqulrMrenae, in M emoud red tar Btan tM dnrailWorla Povid•d h ills CabrWO D. d Imtidty M {AiBck l0. 7ly 24 d ills ........~. Y7•rlssd SlaruW, r amend.dY. TM Tam, r its alsdicn, may prwidr Ia dr Frurrw• ap.dW in drys Groton 19.T paAiWy a whdy b1' mwts d a eel-Frnarlaa find µ Povid•d tell rppticahy Wv. Ary ands sedtinwrana ahW M darnrd b 4 iuuanw cartage he,surtder. TM gaaesdad 11n and ec- Isnded coverap• Frlrana dwrlrg dr Palk'wp Fecitir, at tM eplf9ra d IM Tawn, atr9 (,) W acrd Iaelhweh {d tM pVnprM• d rep•Fln,p Inn woywty d.anyed. Iwrrvld•d Nat ant Frwrr>. goueJe rerlrktArp upon IM oonpMYOn d such r.pwu a ., .n1 shall b• dapoaNW h tM Boll Fund a (G} M depoatrd IwtFlritlt b tM Bond Fund. U. surtlY Banda. Each dtidr d tM town Mrirp rodY d IM Pkdped RwMlre, a mpgsW for Ih•F hud3inp, Mai d filly bare dad r as imN, whidr bard steal be oardkbnW ppm lM propr appicricn d audi moray. Y. Prsjudidr I;mtnacSa and AdiM Pmhbi•d. No canned wit M rotted into, nor wW any so- lion M takM. by ihs Town M which me riph4 sold p?wbpM d any Orwlsr re lmPairsd « aimn'.h.d. SECTION p. Osl•a•enca WAwt Ur 1991 8onda haw bun lust' paq bdh r b Ahnopai and iarrk al oblgdbr• hrwndr shW a didoarpsd and IM IOSt 8onda Thai rw bnpr M armed to b• a,luandirg Imo bty purpoa• d Ihl. Ondinurc•, •xraepl u eel ImA n S•csbn 19,K Mred. Peym•d d env 1991 Bartle urll>» drmrd nude rd+rrt nr Town hµ placed h octave moth a Yrus1 gut M rancuM suHk:d Qlncludinp Ihr known minimum Yfrd Iram f,3ovMSmemal ObNprimsl 1a nrM a9 nquFr mMw d gincipat IoW eat, and cry Pta nden,p- tion prrdurtw on curt t9g1 Aartd• r ur• ..nt. bemnr des 1o malaly d a drbrWSd prior radampripn dadr; and, it 4991 Bards an b a redeawrd prior m rrWUmy punurt m 3edion 7A fired, wflen ill Town hµ pivM b dr Rep:lraz in !' ripen fminutiom b give rrlip d giro redertWiorl b axao,darws wih Swim 7p Mead, rtes Govemmernal Obiga- Ibm steal Iseoorrls des pr'ar to Iha mpsdiv line. mR ido IM , . _. llwed fhrnll M rnedd, ~ aacadanw rrilh • scheduy f91++d open betv,rn IM Town as ouch Trl,sl Bank tl IM date d are•eion d the escrow and steal nq a callabb pr'wr 1o IheL achaddad myurNiaa h' d,• :>:Yr tnr.a. N tM event Ihet thara h a drsasarw. d my p+,l d tM 1991 Banta d r,y rrrlwry, tM lt•p:hu shall. B n•gtlMlad by IM Two. Irrlitul• a ayf:m b Prrsrvr 1M IdM1ey d tM kWividud t9Pl Banda a pMrns IMrrd w d•IMSed. regardlre el chanq•a In band numbs aP er14Vlablr to 7renslM and rwhanpr d 1901 Banda; and IM Rep:traz shall M MINbd So nµwuhw oan+pMStliM end raircbwsem.nt d •rp•nar Iram [he Tavn io amnwion rri8t rush system SECTigN 21. OELEGATEp POWERS. TM ohicen d She Tam M, ud BrY Meshy azs. adha¢•d and d'reaed to take d action neaes• oar'/ a Aoproprisle b •HSdual• IM. prariaians d 1hk Ordinartc•, Frcbdinp, wNhod IFritFrp tM ganeraNY d 9w Forapoig, IM piloting d IM tp91 Gorda with IM opinion a Irad counar lhereM, ell procuring d laond'naurrsor MrY,q ido ant srswlinp appropdrs apresrcrrts vr'sh IM R.pisFa rd PaYhp Apanl µ 1o N arvlesa h•nwdr. and Ihs averxalim d ouch Ianiliearr r may >» required 4y tM Pundraaer, inciudinp. but red n•a«.ady lowed to, tM ab.r,oa and rislrtas d talon W W inp IM rdusim d in,- larml M tM 199t Bonds from prose Ftconr Imo federal Fteprrr tar purpwse. The Ferry Irmr and prov:iorw d fM Pw• cltaf• Codraa and p kCar Apresmrd trr•by are apPrwrd, azd dr Tdwt ahaF Mtr ido and prnarm Hs oh[gatbria under 7M Purchµ• Corte Iraq and Repwlnr Aprrrrnl En slArtantiay Ih• lams d suA daumsnta presented b the Tow1t ca,r 'l at aia me.tinq. wim any .Irdr cnw,paa Herein w w rpuired by 1M cirarrewrlce. and rr rest irlwns:l•M hrswih; and lM Maya and Town Clrk an herebyadMrix.d u,d dirsded b execs. and delver br Purduu Contrail and Rep:traz Agleamea u required tetchy. SECTION 22. Events d OdaW. Eadr d fM lolbw'ag wrda w Mnaby declared M •errd d dabul.' A Narp.ymW d Principal. k p•ynrd d err prirrypal d any d lM 1991 8onda in cmnection IMrwilh Mai red a retails what Gtr aamt MW bewm• des and payabb at malunily; or by gocesdlnpe la prior raden,pl:n; « B. Narpaymenl d Inlraat. tl paymMl d a,y irorapmsd d intrw M tM 1994 Bonds shell not W rtrde whM Iha sorer _-.....-_ due and wYabla; a C, hw;aPebk ra PrFOmu f Ihs lawn altak for My realm b• rendred ' _.. .' d luliyrtq ik d>igaliom hasundm; « C. Dalauk d My Provlaion, h tlr 7arm Mai delsuY In IM due and punaur pwlwmanw d µ oavenada or mndilipM, agnsm•nla antl prov:ions amlaitrd in IM 1991 Banda a in N: ad'nano m M Pan b t>a prdamed, dha then [none ddirmsd In Pazapreplw A and B d the Mahn. and a each ddwr Nay Canlnw la ek- Iy dare w11r wrltte ;notice ap.=11yi.a ouch delaua and eyuFag he satyr w Ip rs,edrd aha14 Mu• rr•„ piwrt to 1M Town W IM fiord hwlr w ixp re a : rat m ddwi d u pay- m•nl obppalwm antler the Bond imVNnae Paliry o durlnp audl drleult 4y Ihr Band Inaurr, by 1M awn.n d lweny.live proem (25%) F1 apgrepals Rdrtcipal amount d IM 1994 Bonds lMn OWUaWilp, SECTION 2B. Rernwdi•e. Upon drr happM'nq and eaminuanw al y vd I deleuY w p,wif•d b Sagim 22 fired, IM Bond inaurr « owltr a amore d red less lhrt 25%'n pdndpak emoud d Ihs Oaatendinp Bede, « a lotto drrelon, may gdsa arrd xsace th.ir riphb hereunder blr proper bpd w equiua6y ronredy d00rird R1pt Wectual iRdudinq nnallddltar, speelb Pedamanor d any ooverwns, lM ap~ pakamem d a rsceN« Phe w,renS d sutl, ap- ponlnrnl b•irq hraby pnantedl, injuncwe,.lid, a regdrinp tM Town Caundl to ad r i it was tM Watr d M aigxMa NuaL a arry nw,i>ir>r Ibn d sash remedies. No1wIlMtantlinp IM foregoitp, w lap r Rte Bard Insurr : redo delaul in Aa wYmMl daipuiona undr lM Bond Inwrsnq Policy a tM Bond Reserve Inaaeno. Polity IM Bond Imur Mal dined the enlaor mMt d any rrtrdy hereundr wRhaW Hr cart antl d tM amen d tltr Batas. All proavedl,g• shell be ma.F,lalrrd la ills bertd'a d lM Bond In- es ea lag r i :red in da1wN n Ns PaYrrled oblipaliorr under ills Bard Insura,soe Pd'ry rY tM Bwd Rrarw lmunwr Pdi~y, and. dnkq wch ddwh by IM Boll Inwrr, kheraaha Fa Ihr aqua) b.nrfi d LL awwa TM talons d tM Bond inwnr a any ownr b Prna•sd does red relieve 1lis Town «ary preen d a~Y iiabiiry Ia ialunte p.dwrn My day hsm,Mr.7M larpr irg rights w in addeion 1o try dhr right wai r144 b tM Bard Imura a aurora d Garda and kh• rroiM d arty +i01d by anY ownr ehWf rte b d•rrsrd awaiwr d any dlrr ryht 3£CT1CN 2A. Bdir upon Ddauk. Upon tM happerlinp d any d IM want. d d•fwh r pmrid.d h Sadbn 2z d thti aanr•no•, IM Town, N aMNbn, wit do and pwiam ai proper ado m bdiaM d raW la dr ownero d Ne 19g1 Bonds 1e protrd red pr•arrv• the s•curiy aeat.d 1a dr peymrd d tM 199! Borida aetd to inaunlM paymrlt d Br principtl d ant imrsr m acid 199i Gorda prwrply u the ..rent 1»- mnr due, Proceeds dr'wW 3ran SM Pledged RevMUa. ao bop u My d IM 1991 Board. herein authorix•d. either u la Piincipal a in•nrr. err Qufaterdlnp .red uryrd, shay b• pad Inb IM Head Fund ud tlr Rasrw Fund, punurk to Ns t«ma hued slyd la IM anent provided herein, and used for 1M purpcer Mrain provided. h tM wrnk IM Tam fella « rdlnr b proceed in Shia asdion pravdsd, IM 9wd Inawar so ioep µ N 4 nest in d•iautt d iq payrrm dygdiwu undo the Bmd Inawarrra Pclicy «. dwirg audl r ddauY by IM Bond lnwrr, Br ownr a ownrs d red lass Nan IwenlY~live percent 125x} it apgragale Prinopal arwud d IM 1901 Bards than pulllandinp, char demuW in wing, may pnosad to pged and enfant. ih• rights al such owner r Mreinabove gwided. SECTION 25. Relkeor,rnt d Rapiurea « Paying Apenl. H IM R•p:lru w Paysg 0.panl in- i5auy appohled hereundr shag raaign, « it the Town sha4 rnaonably deSermins 1Mt aid Repiaur a Peyinp Apart hen brcome ircepabw d pedorminq is duhea r,eneunder, tl,e Town may, uPM ndice mailed io Band Imuren std eadr mr d y t891 Bad tl h: addnra Ian chow m tM rep:V•Um rocords. appoint ^ suc• wsaa Rsp:trar a PeYinp Apenl. « Cosh. No nspnalbn a dkamissn d lM Replurar or paying Apart may tokr Wrd until . sucwasr k eppahted Emory wilt alwo.a.a RapWnr a Paying Aped rttad b• a halt a hoot atrr,wry hevinp . ahareowmn' rquhy (e.p., capital, wrplus and undivided prolilah however denminxted, d red Nre than ilD,1188,098, h sha{I red M requRed That H,e suro inwaanim sr• ve bdh Repinrar and Paying Pgrm hereunder. bIA tM Town shall hate the rqM b have dr scent inslkd'on arty as bdh Repinra ant Pay'erp Agem hMUndsr. SECTION 2d SetYnnbiGlY. d any ar w nun aectbn•, rnlamee. cbusr a gotta d 1h'r a- dinarsca shall Ia eny reason be hdd iwalid. suM jrdgrwnl aheVl red aNeaL imps., w vwardme the renrninp Pnav+aiom d Ihr adinenoe, but Mal tM confined in Ns opertlion to IM spedib sedorr. ants«roae, dauw a parts d Ih'a a- diwnw w heW unconund'onal a Invald, and tM in, .,.".. ., aril Iwafdiry d any section. sMlanaa ckur w put d lh: Ordinanw h any one or Iran inatancr sMll nor affect o pnlaAe. in my wY IM rppiokrilty arrd valairy d Ihie adlnartoe h any dhr inuarlor. SECTON 27. Repealer. Nf tylaws, silts, rnoirtians and ad'nulo•a a parts Ihred, in mna:led hrawih are hreby rspsaled b the eatrd my d ouch Fa»nsnlenry. 'Yhka~epealr Mall real W conpruad Ip rwiw any byl . o des, nrofnian «adFlazsw, a pan therad, heraldwa teprabd. SECTION 2S. 1. A. The Town maY, wihwrt IM mnaerd d. « traits to tM owtrra d tM 1981 Bards w Bond heart. adopt soil adinexww supplemental finds (which . - lal anwndmenh .hall Ihreahr Iwm • pan hreol} Imo sry one a mess a WI d IM fdbwirg pwpar: 1. To are any arrtoigpRY, w b b/rr, Wnrad a auppt•med any 1lafad « Inoona:lrn prov:ion aonlained in This adinulor, a to mrAa try gwwior with rrPrd b nW[M riiing Vndr the ONirrrc• « Fa arty dlrr purpose n •udr prw:ions are neoeetary a deairabk and do red rvlvra•y Wad IM Fnrw4 d IM wawa d IM t9-I 8onda a Band Irrurr; a 2. Fo subject b thw Ordinarto• a.ldiionr revMwe, prapenra w aYlrrat B. E•cY,siva d tln• arnr,daeay ordinanc•a P•nrltled by Paragraph A d the Sacfors, this a• dnerrw nrYManrrdedi r ~'~ wdbY«- dFsancs adopted M tM Town Courul in aocad- m wih the Ines, withwl rsoeipl by the Town d any rlddiliontl conaidaratim but wish ms wrelen omaME d Burd 3nurr, unaµs Bard Inwrrr de1wR unto tM terl,w d IM Bard lnsuana PoLuy, In which our lhw adlana. may M enrrdeE « •uppNmemed with lM Irrllen Wrt- •an,t d IM owlrrs d eiaY~•s percent (B5%l h agpneprs pdncpd a+rwtl d Br 1991 8onda Oastandnp tl IM [irrr d tM adagios d slab amrndRlory suppl•m•nlal ardin anc•; provided. trawvr, mr, without IM rrriaan om- r•ntl dBond Inruror and Br ww,M d e1 d the 1901 Bantle adveraelY Waded tMrshy, rw such Ordnance shall Mve tM Wect d permihhp: 1. M extenfian d tM mdaay d any 199E Bata adlwri:ed by m: Ordinar,n: a 2 A r•dvdim in Iha gincpd amoum d airy 1991 Bend, IM rase d nrorrS IMreon, a IM prior nedarcgion prsnJum sMremi a 1. The usaim d a IiM vparl w plodge d Pledged Revenues rankFrq pia to Ih• Ian a pledge Baked by 1h: atnarlm; a 4. A reduaipn d IM ginclpr amount d 1981 Bonds requFsd Imo contra to audl arneedalpry or aupdwweyt rraina,ru.; a 5. The e. a6rsle.ent d nim,aiaa M halween tact lentils irsuw a„d oear,d~p u.da, m• pweivnr d thin Ordinaxe; w a yh. n.vdrlratriM d a dherw:M wena,p Ih• phla d IM morn d Iree thM •1 d the 1881 Bwd then Odalandirg. Capra of any wdvr, madyi®tim w amend- men! falter Odinance Mdl a delivued to Slarr• dad a Poor; r«ppnmipn, « cry amt Mry IhM meintrnng a rtlirq m tM 1V9t Badds. SECTION 29. Ndior l0 iTonrd Inwr. Any ndir Mnh required la a pMM la Band Inswr shut >» it wrn'nq ant eed by negialered or oer- llied mwM1 to Bad Inwrr. Muncpal Bard Ira valor Asawuror Colporrion. I tp fling Sued, Anmat, tiew Yod 195W « to ouch dhr ed- dresa B+at Bond Insurr steal nd'fy lM Town d'n wd'nq. SECTION 38. PaymMa under IM Policy. A. In IM wMl that. m IM ancaM Businafs Oay, and again M the Busimµ D•Y. qbr b any payrtrnl duo M the 199t Benda, Ihs PaYlrsq l4gM1 has rat recerad wHic'wnl mmeya to pay a1 prhdpal d and intern on the 1991 Bonds then des, u,s Pay'nq Aped ahW ircrrd'rtey Itdiy Bond Imura a ha despnee m the seine Buaineaa Day b'Y lekpho,te a blepraph, mn1F- mad k YrtAitg by rop4atrsd a wnitied mail d IM amaud d IM dd'oiee y. B, f tM ddicrnry :mods up et while a :, pad prior la « m lM payment data. IM PaYnp Aprnl steal so lu>tiy Dad Imuror a is designee. C. h addiion, 2 the Paying Apanl teas nestles Ihal any ropiaered arrrr has teen roquilad to d:gape ,,. d principal a inlrrt on Ih• 1991 Banda la a truslw in bankruptcy or asdNars a alter punfuaat to a final judgement M . coon d oaryaMt jurwtlictwn that wch Pay- ment conuHutw an avoidahis gelr«rca b •uch epietred own« wihin ur n,..rillq d Mr .p- piwd• ba+lk,upsay 4avra, font IM ayirrp AgMI ahW racily Bond heart a h : ', d such lad blr tekphara n labprapn, oanikmed in wril- leg by Irp•tered a prhlied rtraR. 0. TM PayFlp Aped h hrehr hreroca6y drugnayd, appoid.d, dlreded end adhodxed la an µ attwnry~h-lactfa rep:r•rod antra d1M t99t Gorda u idrawa: Y. 6 and to tM earM Nora h • ddirierwy N emoude required la pay Fntetrl m dt• 1991 Bonds, IM paying AgMI MaA Ia1 exewte end defer b tM Inwnrw Paying Agent, in Iwm sriNaday Id IM Inaunnw Peyig AgMI, M in- auurr•nt eppainirg fiord hauner u pad la ouch IrgeW W owrrle In MY typal laa>Mdhq irlnl•d Ip IM puynwnl tl soar Ilaarer erW rl r~ signmed b Bard Ina r d I M dw,tr la Inreu to which each deliapncy rolatr soil which aro paid W Bond Inaurr. (bl rerowa r drignee d IM reaprrdiw rag:brsd drawn fond red o. Paying Ageng'n aoooda,rr wsh the lemr d IM Po'iry payment Irem Ihs Imurancs Paying Poem wish roeped to the dsima for inters•t sa µagned, antl icY disbunsa 1M same b audt rospedlw registered owner; a,d 2. II and to Ihs extent of a deHckency in amoums required la pay pinwpal d the 1891 Banda, tM Paving AgMI steel (a} eaeade end desw, to the Insurance Paying Pgem In bum edisragory 1o the Imuruce Payhp Agent M in~ svvrrcnt eppo'utting Bond heart µ agent la such repwlred owner 'n any kgd procoedFg relal'np to the Ppylrnnt d auk pr'nepal artd an assgnmrnt b Band hiw•r d any d IM tg91 Bonds surrendered to the inawanc• Paying Apenl d w much d the prinaiptl arrwuns IhereoF as teas not previously boon pad a e« vrhidr moneys tyre not heU by the Payhg Apsm end aYa,4Wb la sudr paYmed I>Hn ouch uaipmrnk sAal be delivr•d mly N paYnrnt Fnm tM In- auanoe PaYFg ApMS w rec»iwdl. NY raMlve r See next page .., ,~ °~ ~ ,~..-..,a ~._...... _..,.y... _ . .. -. - ..._ _ . "VO 71ee1,hII'[Yall-r10Lc~:._.- 22. 1991 AiomprcWnus pc{rYe dsslpnr d IM ruprarira rpkNrsd owrMn (and nal u Pryirp Aped) h . 1 with lM f«wr d lM Pdicy paymaM Ihwdaa booths In avulw Paying Aqud, and fck d'wburaa Dra aams b ouch rpiiaw owT1«e, E. Payrtrnls whh rasprd b Bahr !a idwrf on and prlndpd d 190t Bad. dikunw by pre Puyrp After/ Dom prow•ds d II» Popq anal nd be mn.;d«•d la dreaharga p+a oGtyatlart d Ih. Town wen rMp•d to ruoh 1401 Bonda, and Sam Inwrr ahal beaanw lM wn+rr d Iudr Um pri+d 1441 Bads and dAirra la pre krlarr[ h Fo aaduw. w;th IM fancy d 1ha .eeipnm«v mrde b h under SM prwNbn d Ihk wMadion a dhenwr•. F. Yrarpedin d wbrlh« r,y such Ma1gn• rlrlnr w ~aculd antl dMivarad, Urn Tovm erd tl» Paying Ar)erV h•'ehY prM for 1M Il«laft d Bore[ lnwrw Ihtl. 1. W IM eN•nl E301d Iwurr makr . de.dy a irdir«iy tM br pAYi'9 waph dr Paying Ap•nl}, w roam d pirraipald a lefty' .« on tM 1981 Bolls, Bond Dwurwr adll b arrb• mgald b IM riples d sudr rplNar.d olwr«a b receive pee arro'un1 d ouch pdndpal and DfaraM Iron rM Toren. wish hlwwt thraon r Provided all adeV tram rM aaumes Malad D1 Ihk Ind•n bas and ill iDDI Borah; and 2. they rwi aaoadhplY WY b Bad kNlrrer pre vrraud d arrdr p+irobtl and htwa.t flrralud+r4 pnncipal and int•r•af nwruw undo aub- paapraph If) d Yr• Ira1 puprrph d dr Poky, whch p4w~a1 Frd kaa+alR a11tl1 b• darrrwd pFM dw and nd b Nrvr tw•n P•el• odor k1reR pwaon M pnhio•d h Wk pdrrrluraa rod pro f991 Borda, but poly fnlm pre aawa•e and M IM mwrrr govided Mrdn for ill wrmad d pin opal of and lnlauat an IM E441 Bonda to rpiaMd own«a. all ril alr•rwia Ifraf Bard haurw r Iha avow d audr d9M b Ulr artwn d such yrnoQal and bsNrrd, sECTION 31. adin,rrw kraprdahb. Allsr any a lM Ip91 BR'1dl M+eh adhpdrM M iausd. Ihu Ordirw+oa shall IawYidf a omtraa hrMwn IM Town and IM ownra d tM 199t Bads. and shad br sal nnn'rr inaPSAiabh rlydi sM 1991 Bonds and irrtarMt Ih«Am ahW 6a July paid, pancded rod diacharpad M bar elm Prvrd+d~ 12. DNPwYia1 d OrdnFrar. 7hN Ordirurrw, ar Adopd M 9r Caunci, sisal M nunb«sd and raopdd W Ur Town CNdc h lM aflcal reoada d rM Tawr. TM adgA'ron and PsAACa7+on anal !» aU° ~ ~ 1 by dla elgna• corn d IM Mayo., a Maya Pro T•m and Tan CJrk, all by thr o-nNicu• d publctlFar. SECTION Y!, ENedir Dtle. 7hi prdinarroa alull b in tut Ian and •Nad iNa days ah« Ya pabkxtipn upxr krrl P•eae9• M povidW h Seslrot 4.4 d IM Chsnd. ENTROOU CE D. READ AND 8E7 FOR PUBLlC FIEARNO Ihk Sur day d Tlorwnirar, 1pDl. ADOPTED /dv0 APPROVED tlds tote day d 1 . . T49,. TOWN OF VA0. Ned R. Rea Maya ATTEST: Parrwda A. ~ ~, ~ i w Taws cNr1r (sful F]IN41T I LMT OF PERNFr9LF IMVFaTMFNir FOR1h10FHYURF~ FUN6F A. PWOf abllprrioru d slr• tla.ad 9ta/re d AnrrAU (LrMvdrap wlbwow Neu•tl a Iwld h Aod.«dry Ism m pro Locke d IM DrP+nRwd d ell TrsawryJ a ddarlliar ell gi+o~ld d all lea«W ors which ue w undniaraly Dr+u.Mard 4y tM LFnp•d Slates d Am«iaa 8, Banda, detwnufN. nd.a IX odor a44dMla• d iwabednn+ irud d guranlrw by my d ar tdiowirq 1«Hrtl .garw.a arrd pwtd•e such r6apal'aw N• badid M tlra Iu8 INh and aedd o! IM United 91r1w d An»rioa {Nripped eaprailias an any prMW d Ilay h.ve bell wop.d by 7M ap•rrry 4aeNl; i. U,S- Exparl•Inpp-I B.+sk (Ewirrewrkl Sired atl'iptlions a fully puuunl••d ow1YI- cur d b«whdd pwnerahp. 2. Fur+ws Flans Adm'rriakpfon {FIfAJ Canrtrralr d brarlidd pwrwnkp. ]. FaMrtl Fiurrclni BarN. i- F.d•ral Flo,ainp AdniniNrMlon O.I»raww PIS}. 6. Owwrai Savior Arimrisbariun PanicpMian anNOatr. Is. Gawrnrtwn[ r altorW Mortpape Arodtlbn (BNMAa'C'nnN Mr'1 GAIMA - puusat.ad rnorlgaprbacllyd harrda GNMA , puarantow pau~~hmuph odytlionr Im+t Ano•p1aGe !a wnain alt{law unaliva kawN. 7. U.S. Mrn'anr Admirilo-MOn Ouorantaod Tnb Xl liw,cnp B. U.9 Dapadnwnl d /lounnp vend Udoan De»foprrwrl (HV!]I Prgery Nar Local Aulhaily Bondi, New Commrrilka D•Uan1uM • U.S. Saran' rwd puarrnaw debanuraa U.S. Prbkc Fbueinp Nor all Boob - U.9. prrwrrmad 9vuanlawl p+•hia housing ones and bpndl. G. BrrrA, datsMUr-e, rwW or rMher anldrrv d irldabtwnw keued a puaranlMd M any d dw Id3awinp nar~lu! Nash and cndll U.B. povrn. rrwd •9ancNa INrippw rrwrlir w any pr- rrrtlw d u»y Mw bean atrlpsvd by IM a9a+wY M•kl: 1. Fad«tl Ffarr Loan Ba+fs Sytlam Senior debt r6liptliona 2. Fedwd Lla+r Loan Malpap• Carywrrlar PHUkC a'Fndd'rr Mau') Padicgtlfon CrtilcWS. Srnior debt oblYttlionr. 3. F.daral NWiaul Modprep. AaaopWal (FNMA a'Fannb Mai I. Mwip.pe isacAw a.rwhw e+d ''oleo dace d.apMbna, e. 6ludrd Loan Ma+kMiry Merw;Wias ISIMA lirnlor drbl ad;pariou. 8- Rea olulion Footling Corporation IREFCORP) cbliptlion.. O. Monty rrrsrMtl funds nQbl•rad urrla dr Floral hvvalnrnl Conpny Ad d t9A0, wlwaa ate area ere lepirl•r•d under IM fw•ral Seurrilier Add 11+]], and Mvlrrp a ral4rq W S1P d AAAmO; AAArrt a AAm E. C«INgalr d rkposp arcured d J Arrler by mWertl deeayo.d h (AI andla (Bl rbpur, Such ., :' mull be i.uw by oormwralal brrYU, uvYpr and loan raaoWbrw a muluN eav:pa tladce. Tha polrf«al mutl M Iraki by Ih/tl pony rod Ilr badlrokl«r rra+N Mr. • per' lydw hnl ucurly inlr•M in IM calrud. F. Cartdyarr d d•Pwk ^aNrrpr Fnoounn, d•podl axounN w mouy markal d•grelN rh'id, ors fuiy kuured by FOX: a FSLIC. G. I ApwMnN. Inoldinp OlC'e, ao vp[aH. to MBIA. H, Camrrcitl twpr row, d dw t9rle d purr7rra.'Primw . 1' lyy Moalya w'A-1' n Mt• W by SdP. I. Bonda w ndM ksuw by any Htlr or rrwnuipel4y lrhlalr w pled by Maody'a a SbP k1 ore d 91a Irrp hiphpt rtlirrp rJrywba rip. nor by ouch rperlaira. J. Prdwtl hArda o<berAwa aaaaprarnaa •M ^ muMum Irm d easy yw d easy Leask vrhidr hM N unsacurad, uMnwr.d and unprwrrt•ed obigrian ntinnpp d'Pdnr -1' a'A3' a 6etbr by Moody+a and 'A-1' w'A• a tasn« by Sip. K. R•puMr. aywrtwrtr prpstdr la S,a 1raro1M of wcurilNa Ilam a dealer bank or wawbke lien IaaFr -.. Y b a rrarnicpal M- ay ibuyrA«daa7, W the uenslw d rash Irom• ntrniepd w1ilY 1o IM dee1M Lyle w srwrlir !im with an pn«taan YW tM draJ« battle a aecuMke litter wil spay 9+r arh plus a yWd b dry nbnlr;+d Aapy h aadwga W tM arourY;ea r a apaalid a1.fF, Re{wrchra l , mrt atlkb ell IoF taAtnp arhrrlr a br aiarrar•d by YBGI 1. Ilapoa mnl M htlrMn tl» mxdopal err dy end • draw Lytle a aawdlNe Nrnt a Pdrwy dadMS rxl pre Fad«rY ilarrrw S~rd l P~awY Carporrtion Md MoadY1 IrWF wrla Sanbr, R b. Badw +FIw'A' a above bb' SWdud i Poar'a Carporrlion and Moody'a fnwuw 8•IVioea. 2. TM wrign r.po canyon dull :x#de IM a8•wtdaa aArfcir w aaaafAAN• IarbarwFar w: (!j Dlraat U.B a ~ ' fit} Frrd«el pwrdaa EarA W by Yrr fop faYh - vd anti d tlr U.B... • ' (and FNLIA L ' FMACI. b. TM t«m d llr• nPO may b orb 90 Mya. 0. TM odrwal mrM b drlirrarrd b Thy erwnbpal adky. 4srMea p wow k M r.Fgy kV llrr 0a4a1«dl a dirtl PAY el~p r ap.n b the vuNa• ¢I IM lrrulea M wppyirrp 1M odlMNdl hakaarekrsrpanapu~ with paynrd (pu!•allon by ponaarbn o! prNNlulad awanNirl. d. Vabation d Capltrtl (IF TM saarrlw frusl M raAwd wre.Ay, m.h,d~wrrwfua tl aarmt rrlerk•1 Pdoa plu ao- rrd Irrw•N. (el TM rahrr d mWral nwM M equal b 1wx d pr u:rarr+ d wh Irrwl«nd by +h. nwnN{pal rlraNy b tM drFbr bark a aaarity lirrn urrd« pw npo Pk+a Aoawd kaarsae. Y C,r vak» d aaoudllr• told r ooWaral alp •-'- ~ t9a% of IM value of IM assh Iranalanw by mrn'alW7iy. Ikon addilxlrtl arh urdru a ~'PI- arhN eruriu. mr« M D«ulrnad. Y, Irovwv«, pre e•eurkiM urrd r adW«al w FNMA a FMAC, Nwn pw rwkr d eoaAbrtl mnl pw' 1115!1. 3. lwgd aP'Inlar rdddl rcewt tw dMrrrrw b Vr• na•+k:Pal rnldy. a Repo rrr•de pukWirr wrdw rlaN Iw fa Nptl ton atrrnd d Pubis AJrdt. AddnlpW Ndr [~ Any Mara adminNlrrd pad krVeelrrwrd fund h which tM kau« b slatubriy prrrikW a r.gdrd b krrwl win b. d.snwd • perrWled iM•slmMA. (i~ DSRF krwrDrlnk rlrould a vw.d tl goal 1 rrwlwlY k err you a fro. arld ahouW w vtlrrw tl tai nrrY.M valve and rtrrkad b rrarkat annually Y rrururlY N Loper than pry yw. h no awn alwuU 08RF kwrarurW Mv. rrwlueirM aawndhrp bgorrd a yww PuMW»d fi The Vra Trace pas- - 11. IP41 Public Notice ORDNANCE HO.47 BerMr of 19P1 AN ORDNNANCE AMENDINd CHAPTER 18.01, DEFINITIONS. OF THE MUNICIPAL CODE Of TrrE iOVYN OF VAIL BY TrfE AODF iMDNOF SECTION 7B,w,277, $ETTINO FORTH A DEFNITION FOR PLANT PHODLICTS; BY nIE ADOITpN OF HECTgN 1B.Oe289, SET- 71NG FpATH A pEFNITY3N FOR'SEASONAL PLANT PRODUCT BUSINESS'; AMENDING SECTION YB~]O,D36. HEAW SERVICE OIS~ TRICT CONDfTIONAL USES OF THE MUNICtPAt. CODE OF 7/iE TpWN OF VAIL BY THE ADDITION OF PARAGRAPIi T, SEASONAL PLANT PRODUCT BUSINESS, AND HfTTNG FORTH DETAILS N REDARD THERETO. WHEREAS, IM Tawm Councl N d ill baiel Neat fns brnunre d Wire wnain qqw d i>anl prodada on a raaraorsrl Lyle N an apoaplrprle dllbnal cant k1 IM H-svy Sarin Zan' Dnerid; and WHEREAS, on pdabar 29, 194i, r 14 npawy arir•dui•d erwdinp d ell Plrmip and Envirpnmrla Corrvetiasion, J cep provtl d the amendmsnl M F vde d 60, NOW, THEREFORE, BE R DRDAWED BM THE TOWN CWr1CIL OF THE TDY1M OF VAIL, cpLGlta6D nut; 6ECTIDN I. Chsplw 16.61. Dd'nd'gr, d Ur Mwldpal cage d pee Term d Vail b Mrrby.m.rdad M IM Wdlwn d 8ratbn 16.w.2Tr. Ply[ PraducN. b read u Idlowa; I B,w277 •'PtuH gwra:la' mwr hNilen and pled a•ada pwkapw h quanllir wwiph:p mr own into 26 pouws, all LMI, aMuba, bad d'np plMla gad envy and CnrklmM Dw and wtwM. SECTKI}l 2. ch.plw law, DMinhona, d ill Man:rnp•f Code d tM Town d YV k hrrwY arrlwWw h' d+• AddaVds d SKbon iB.61.28g 4 road r 19.64.219 • '8aupnal Plant Products Buunra' nMana any pwapl, axporedon, can p•py o. pulMUhiD which .elk any pbnl gaduua. r dMrrd h S«sion Fb,w~T7, A I•aaonel plan) pruduq Lualn•ra shall any aper•re •r a rvndua,n•I wa b cww tl,µriaa wt,ers N b Idbw•d. A rrawnal pbrM produeta bu.ineee siWl be wlYl•d b npl man d+M 1wn plrrYLe par lot tar any all yw, cad aadr p«rril shnll rrd axoaW 96 wnaecuWa days sac1L Wlwn•v« ^ aaawrrtl glom P'adrKta bueinae• k hot in aprralrar4 all alruadrM. T4d11rae, nwradela for r+N end •quivrrd r•Whrp IXdw braawrs atoll M rannvd from the wr kcron d aprrtlion wYhin a M+IaJ nd b.sprd 72 hpnra. SECTION J. Swla+ !6.]0.030, 11ry 8redoe Cadiimal Uar, d the Mudepal Cody d IM Town d Ve}I k Mreby anwnded by IM addition d Puapraph T to road as tdiows: T~ Ssuontl %MI Produce Bw:nMS. SECTION A. N any pad, aedfo0. au4eaion, arrdarroa, daunt a phru• d Ihk ortlinnw N for Any r•uon Mid b G hvaFd, aud, dedalwr a1wN nor Wed IM valitlny d IM nmekrinp poniala d Ihk rdin.na.; and IM Twm CaYndi Mreby dwWae d e+o+rM Mve puaw Ihk ardlnuw, and aad+ part. wdbn, wb.edian, - drra• w.. pheaw Ihsr•d, requdNaa d tM lact 1Frst any one a moo Pub, rvdiar, adlerdion, aFn.rwwa. fLiui•a a plva/ss t10 drkdud invald. SECTION 6. TM Town Gpurwil hereby fida• ddrm'nr and d•dur thtl thM ordinenw k naarrary and grapy la Nw MaBh, aa1dY and waNan d IM Town d Val} and IM hhrlbiada prrrd. SECTION 8. TM rep•tl w dw raped and raan•drtwd d any povkian d p» Vaii MunidpFl Coda r pro idd h Ihir wdlnarwa ahal nd celled ary ripN which hat ewruw, any day I+IPww• u9' violwbn lhu aprvnd pia b pre anadFw date Mreal, any pwmdion pomnwrrc.d, rya a7y ally uf+arr a prowrdin9 r ., .: candor a by rirtrla d 1M prwkian rapralyd a rap.aW and rranadsd. ThF rrpral d Foy provision Ir•nbY shat nd rrviva any prarbiarr a any w• dinarrw p.riouaiy +apatlrd a u4aaa6rd wr Lae «rq.My M,ard hwNn. 8ECTgN 7. All bylawr, ordsra, rualullena and ordlnancr, ar goon 1Mred, inpvnakUnl Mrrrdlh ua rapaakd b pro wd.rA any a sudr irwn/lN«wy. Tha npMNr Than rqr a apr* s4uw b ravN• any bylaw. cedar, rwaoyrSort a adinanba, w pad tMrrd, tkYtldors rpMbd. W7T1000CE0, AEAO DN FIRST READNO aPPROYED AND OItDEREO PUBLISHED ONCE W FULL Ilrie dth d•y d NarrnOar, 100,. A pubic h•uinp ahai b hrM h«rpn on tM 1ph day d f . ~. 19D1 r pro rapdar rrraaiip d tlr TaWn Councl d dr Town d Val, Cdarlsda h Xra Munioipat 8uldip d tM Town. TOVYN OF VA0. KM R. Roll Maya ATTEST: Par»W A• B ~ - Toam CNA iNTRbpl1CED, READ AND APPROVED ON SECOND READING AND ORDERED PUBLISHED ONCE W FULL tlrk t4N day d I , 1941. TOWN OF VAIL Kent R. Roy Mayo ATTEST: Parrwta A Brarrdnryer Tower Clerk PV41khw h TM Vsn Trap m Flovaabu 22, tDDt ._ . Public Native ORDNANCE NO. N Satins nl 1991 AN ORDNANCE AMENDINp ORDNANCE NO. 2D, SETtiES OF 148A RELATING TO TFiE TOWN pF VAR. COlOAADD SALES TAX REVENUE HONDS, SERIES IDBB. N4W, THEREFORE, BE R OROAWEO SY THE TOWN C.Ol1NCY- OF THE TOWN pF VAIL, cGLGRAIw: SECTY3h1 /. Pafurlion. Trrrr caned in thk Or rlinrrrce shall tear. flw ,. •P•pYiw h p• dinanu No. ?0. Suave d 1089 (Ur '1994 Ordiurro••), saoapl rdwra IM ponlexl by d.a+ irrdcsdion dMrwiM nquiM. BEOrnN 3. R.cr.k. A TM Tam N a nwrJrrigl .. duly aw .rd •alMl+r9 u+a.r a. TO•nr Crarr« a Purwam w Ardd. xx d In. ca,Nh,d'ron d ell ewe d caar.ae. B. Punu•M W tl+r 1989 Ordinurw, dra lawn Ir•a Irsrardprr luuw A 7084 Bonda. c, Purwanl b rM 1084 Ordhw,w, Yle Town k FrMwhw b krw Addkiond BaWr p wrtakr npu3rerrwrsa sal lath h thr 1989 0rdk+uroa w +neR D. Ilya Tam dr•Ins b New b Sales TM ilevenw Sonde, 8«ir 1041 (tM'Eppl Barrd.7 h Yr• gheptl artrud d {2,52AIX761or varier municpal puryrsr hul b unable b etwd the birMtliorr rd fall h Ser.Tion 17A d Yrs 1p84 Bond Otd:urar Ice dr Neuanoa d AddRklnal 6. Purauanl Ea Srrdian 288 d the 4889 Orderuwa. 1M Town may urwrd pre 19u9 Or- d'nana with 9» wTlirn aona•n d Uw Boll h- w and wtthoW Yw w+llan oorent d pr owaur d IM Oublandrp 1984 Bads w bop u IM Bud ImwH k nal h delwh under IM iwma d 1M Band Dwuranw Poky. F. TM Tam dri•a to canard Swipn t7A d l11e 1088 Ordinurce b perrtil dw I W 1 Balls b I» issued r Add'eimd Bade purauanf b tM f989 Ordirunw and tM Bond Dwurw, which a not h dalaul under tM Boyd hnuranae Poky. has gQiven its wrillsn aonaam to aucA anwnd'rwnN. SECTION ]. AmMtdrrwd d 8rdion 1 d da 1499 O+dlnaurcP. TM dMinlwn d Matirum An• rruaf Geld S•rviu acrd Raearr Fund Requi+a mere h 3eclion 1 d IM 146D Rrdinance era ~. - !o rand u Idkwa: 'Mnirr4rt Mnual D•h1 llarvioa Requ'rerrwnl' moans lM muhwm smpuM d Ap nqu:d MY- mada d gAKV•I and 3nkren m dra Bade which wit hacarry dw h any Ficd Year. Fa dw purpna d Srdim i7 Mnd ony. Maalmum An• nor} Debt f•rvioa HaquinnwM aha! •lao kwlrrda Ilse pmciptl +nd IM«atl on tM 1065 Saga unli dye 1DBi BprvFa w pe;d a ddaeaw. RM•rw Fund RaqulrrmrnH means arrawnl aqud b IDx d ill pdraiptl Frrwd d Y+r gdtlmdirg Bade Plw r amount yrAd b al Y1vrDrwrd wrdrlpe en u» Rraarw Fund- prov;dw ihM tM R•••rw Full R•orrir+rrenl ahml nd sound urn Maximum Mnwl Debt Sx- Mar RaquFwrwnl, BECTIpN 4. d Section I7A tl tM IDB4 Ordinanoa. 8sdion f7A d tlr ip89 Ore dianoa 4 arrwded m red r fdlawe: A. Lk+ryiaa Upon katranpr d AddiionM Bade. Ndhhq In [hie CAdkrnua shall M oar Mrud h rudr r rlrsnrw M b pavM 4w N- wsnw IrY 11>• Town d wdrAl:xr•! Lord' a dfw+ abliparaw. WYirle Irom and awubuto-sg • li•r1 upon tM Prsdpw Ha+•anrwa on A Pa+Ny a,aA IM INn d rM 1984 Bade PM 'Additiontl Bond/. 8uah AddiBOnd Bandy tray a WYalair •dsly Irom Pledpd Rwrnrrr a FMy may ba payabN Imm PNdp•d Rewnwa a+d Andhr nwnw a Lund of Iha Town ('Addilionai plyd pod RrrwnaMT• Regardkwa d whMMl peyWps wit ly From Plwpd Rawnura w Nam PNdpad Reswnrra and Additional Pkdpad Revanur, b.im Fn wah~borl6a a atA« dYydbrw Fn wllabed a rswly kapad 1ha Idlow:r0 paldF Bon shall M rlkrlad: for tM Fkwl Yw Inv medkl.y pawdkq tr» laau.rraa d any AddF lorral Bonda. Bye rrbud d pbdpw Sale Trol Mwnur h auvh F+walYw Iralel putl a rot wed 125% d Ilr• Muchum Masud OW 8ervlw IorrdrBmds ~PraPwed b 4 uW} and Bra amoud d PNdpw 1 b audr FbrylYeu rtwat goal a aaoew 140% d tM Gsabererm Am nutl OaN 8«rk Rrqu:r«nrw m dra Bards pwdadnp EM AddNawJ Bad..... b M la•wdl. Fa the purpo•r d wl.lyinp the'-' aioramrwararad 121i% Intl rM 14tYK Iss1, ruy Ly, m•r awprlp a huaa8ar DrPaud, which bptly broalra a pAn d caw Pi.dpw (i.r.nar during IM Fkctl Yw prewd' tM Nsuarrw d Ad6tbntl Sandi, a u7 tae tlAvch h le bpaly banana a P•d d Ilr PI•'dBed Rnenur last mwWsy gyro b Yrr Yana q d Addiiar! Bonds, w any hnew h tM car d arty Lw FdriM N s PaT! d 9w PNdpd Rawnwa whidr Incneu k Mrrpoard during IM Flacal Y•u paw6np IM Irurrrea d Addiiond Banda a any such haw. whkh b to be Drvp•w im• mrdilNey prior b p» Nwana d Addliwul Benda can Ee mrg4eretl tc~ es mtrTlMw shed bas dw srrrorpn d tM pkdgrd Rrverwr u A rush Me a kra•aw Md rtrsn b .Sed fa tM Flacat Yw krvrradialay prewdirp Yw bauarrw d aldl Addlbntl Banda. My W wfrielr k no Idger h died tl LM tuna d kwarroa d tM Ad- dlia+al Bonda shag nd a .. ~ for pa• gonna d stlifyinp such Yr1a. Arty Pbdpw FNvanw wFiair k rxe F Ira e1MY G oonidad tlrrlia+iy for WrPOer d Wkiyinp IM euuh b.r. Y dra prdarrnor auYraizirp A eerNa d AddF liunal Banda will plwp• AddNional Pbdped Ravanur b tM 8orda, ill rMlmalw aNad d dry smpum d ouch AddAVaw1 Pldged Rrnnur may br .. . r N aurA rw«lusa hw Lett rawivad for tM Irt Fkctl Yw InrrwdWdy . tlw iruanu d arch Addrrww Bonda. Nokhirp b 1Ns dd:urro! ahMl gohbY tlr Tam fmrn Nwkp Additional Bards fn a rrrexl- ~mum pdrrctpal ArrpprY d i2,S5G606 IF such Ad- '.d0ional Banda w Neuw prior b 3anuary 16, 19ffi. BECTgN 0. palpated Ppwrra. TM dlio«a d 1M 7avn M, and Illy Mreby N adlwrued and d'rrct+d b lake dl adkn Mowaary n cep prepriu• b aNedwla ill proviaiom d Ihk Ordhanw. BECTON 8. S.waadity. Y any ma a moo rleaiorw, a.rdarara, clarrraa a yrarls d lhil Or- dirFrla chap (oe any mason 6s bald Mraid, aueN tr+dpnrd aha4 nd a8w4, h+pah, a fnva7dMe the .. d 9rN OMinrro., bIA alrAi M wnlfn•d yn lee q»rahon Io tM •pacille s.d;ana, aedrrlaM, elauw a park d IM Or- din«roe w MW unwreNkulVonal n hvalid. arrd pw ' _ ,Toy and Invaldpy d Foy ardba, . r aNerr a aaH d Yda OrdLlanw h any ono rn trots IrwtFncr shall nd a!!sH or pajudc. h arty way the aFpidbiGlY ar+d wlid;ry d Ihk Ordirwrw h my ally Irlrilulws. HECT1pN 7. RrPeairr. At bykAr., erdwa, ra.pkniaru and .:' ~ pvta tMrrd, k>• aorlalaM h«awih era hereby npaalsd to tM exlvnf cask d ouch inoonpM•rrry. Ihk repeater (hall rdI ba oadirued b ravke any bylaw, order. rrakA4an a adinanw. n PaA 1Trwed,lwretdon raP3ECT10N B. DiapwiNrm d Ord'rwwe. Thk Ordnrw. M adopted bl' tly Caurrci, aAal M numb«w and r.mdw bl' Uie Town Clerk in tM arlir.lal raoad. d tM Trwwt- TM adoption and prblictlipn chap M adFwnliotlad Ily tM alyrr- turr d 1M Mayor. and Taan Clerlr, and by Iha a«IiVaale d wbiirwbn. SfCT117N 9. ENadka Dana. ThN ordin.nw thou M h Ivi loroa r+ld abed upon rice beer d fns days Fhw lea Pcbloiim won Intl pMMps a pov;ided h SrWion 1.9 d the Chador a rawipA d enYlw mrwenl b!M ann•wnwraa b Nr 1BBD Ordiurw From pro Bad lnawx. INTROD UCEO. REAP AND SET FCR PUBLIC HErWNO Thk Wh d•y d .,. ~., . 1D41. ADO:'TFO AND APPROVED th. Ian oar d r•.. .. . IY4r- TOWN OF YAIL Karl R. Rc.. Maya ATTEST; Parrola A. Bmdrrryw Taws CNrk PrLlisFrd h TM Veil 7raa m hwv.nfoar 2~, ID41 Public Notre ORDINANCE NO. N S•dra o1 /497 AN ORDINANCE AMENDING THE PLAN DOCUMENT OF THE TOWN OF VAII EMPLOYEES' PENSION PLAN: AND SETTNG FpNnf DETAfI.S N REr3,LRp nIERfFO. WHEREAS, P,e Town d Val Inr adaptor An Enployeei Prnon Plan, tM aN•dM dale d which wr January 1, 1483: and. WHEREAS, IM Town d VaT tell prsvinuy adapted livr ~, b IM Employaee` Pe+wian Pbn; arW,~ WHEREAS. Itrs lawn d Yap rrklraa b pAin d Iha Employee Pwsion P W, NOW. THEREFORE, BE IT ORDANEC BV THE TO W N COUNCIL OF THE TOWN OF VAtL, COLORApO: SECTION 1. TFw aireh amrrdrruM b ill Employees' Panaian Plan docurram •dnidr k al- ladred to Ihia Ordinann M Eahibl A Frld inoor- paated Mreln by rlrwror N hwebY adgnad bt ill Tavn Coundl d tM town d Vol. SECTION 2. Y any pan. section, arlbeectiorr, aenlence, etwsa a pMaw d dria a&nanas k for any raaron MU b M invalid, ouch deCbi0.'r alrll oar ItNrct tM vMdBY d tM ramahkg Pa• tort d Ihk adinu+w; and IM Torn Counci hereby decluee N would Raw parsed ihb ordrnanw. And each parr, r•abn, ubeectfon, aadenoe. daua. a phrre prerad, rspardbs• d pr. la1 tlrtl any orrr a envy. pads, aaa6ar. ar6a•d'gra. arnetresa, cksnaa a pMFaw M dedarw invalid. SECTION 3. TM Town Courafl 11«eby iinda, daemknae and declarr thtl pda wdnuwe k Foe proper bey ill haFkh. rtldy rod wellua of IM Town d Val one pro eshshilsnh thw•d. SECTION 4. ilw hpral n Yra +aPrM all n•rudmrm d any gwklaq d 1M Mu.dopal Cod' d pas Town d Val M gwNw In tl:a «~ daw,w shall nal tllad Any rbhl rrhlah hr accrwd, any duly knPaeed, any viayFiarr 1Isa1 ar actor pia b IM ebfMM• daN hwad, any prosewlion .. I. nor Foy atlwr aabn a prxsadipe M .. I elrrder a W rinw d thr p+ovitlon npnbd w r•p.alyd and rarr.aled. TM taprS d any pmvkion Mashy rAell nor rniw any gaMion a any adinar+or pev;araly repaalyd a a ! ! unbaa e:- prMa7y sttled Mrsin. SECTKYN 5. AY bYllrwa, adorn, nadu4aw and prdinanu or pan tAarad, FncanaiHanl Mrewith ue rapesle0 to IM salad ony d aunt irronustenry. Tkis repeaNr atraS nd lea coy eo-u•dto rwrwe my bylaw, odor, naokabn w a• dnsnu a pa11N«•ol, thereldon repealed, WTRODIICED, REAP AND APPROVED ON FIRST READING ANO ORDERED PUBLASFIED ONCE IN FULE this 191h day d. .... r. 1894, and ^ pud'r h•rrhp ahl l1a held on till Or- dwrrwe an IM 3rd day d TYewrrbsr, 1p41 tl 730 P•M h IM Council Cherrbra d ell Val Muaicptl Sulking, Vail Colorado. TOWN DF VAIL r. Nan R. Rove Wyn ATTEST; PameM A. Bnrdrrwyer Tam Cbdr EXIiB17 A &XTH AMENDIAENT TO THE TOWN OF VA;4 EIpLOYEES'PEN9lON PLAN THIS AMENDMENT k mWr M dM Town d Val {Anainahw rdwrad b u IM'Enpbyw'I, WHEREAS, tM Emduyar adoged tM Town d Val Errpkryeea' Pension Plan Sh«esradl•r rebr nd b w IM 'Plan') a1NdNa January 1, 1983; and yYHEREA$, tM PW1 prariJM tl Saaion 9.1 M lolowa: 'Tha Enplty.r may amarrd, modAy n bmwwla pw Plan..': vd WHEREAS, tM Erspby« p+wriou+y rrwndW 1M Plan h wnWn a«drnktl reep•da and now dtlirM b tunhw amend ilne Plan b add ddi~ clonal ~ ' - b the owarFpa d IM Pkn; NOW, THEREFORE, IM E++ploysr does h«eby arrrrrd as Pkn h tM idfowlnp pnnNumre: ARTICLE I ArpcN 11S d dr• Pkn k hereby anwrded by ad- eDn4 caw bdkwtry rraabrr b 9w all d nosh Mick: 'S.8 Partlop.Uon d Noo-" .. E v:.,, -.-. wM k r1d a . aed M a rwuh k rrol r wLQblr .`. h K rNh S«Iion 3.1 aluJ M dial. b par:. IbpMa h ik• Pon pas a RrMed IwN r provided N S•uion 4.1A bebw. Such putiolprlon rMl M dF.diw M d tM kl« a July 1, 1441 a aud+ tasty ~ 's sire d d. ARTX:LE II A nrw 8rdbn 4.1A k Mreby imadw im- nradkfey bbwi+p Iladdipr11.1 d IM PbrL such 8adlon b road kr ib rrgirary r fotlava: 4.1A ConlrlbuHena for Nnn-Parmanant E i. (aj Errrpbyar Conlrbdbna, For srAr PWr Yrr, IM Ent+loiwr shall ooMddAe b IM Plan b Yw awl d tM EnPloyr Contrbullon Aoooud d ands Parircjaaa wlw L nor ahanAU w etgbN arRploYr, an Fmoum rqutl to 1.6% of hk rigbla .. pan. TM aaWburion d u+. Enpbyrr tar airy FLn Year ahaM M rrrada Ya W w Nla+l 2 I12 nwdlr Idbwirq pry aw d 4r. Pbn Year. _ Nla P+u4opwA iwl~rrd dhrnwaa as rkY61a ~. rhal be nquirad b omiribute 6x d hk~pwrpensalion Ip IM PL n Ice en fi P Wr Year, gwUed Ntl 1a IM Plan Year endirp Oeoembar 31, 1981, nods oonhibdipM ahoy ba rawaw ary tlbr duH 1. 1D91. t j Employer Pick-Up CanUlbuliona. Tha MplOyM wnlrbufcn d each,. ~: ~ who k nd aMrwrM an el'gibN enpbye• ahcl M ends by rice Empby« and dwwrw from ill carpen• W'wr+odwwiee gab larM forW awn penaalion gold b aueA wrployee on a ah« November 26, 14pF. Such nddribd'arn ahd M pona+dered b be Pid+ w pa+dribrdior candor case Nmr d Scion 414(hj d tM hlemal pawnor Cads d 1998. 3ucfi padic/psnN steno no! hens ell ap'm d w1lMlrar a nd eudr ewxrbrnior. shall br Treated as •mployar pick-up wntrbdiona. AR71cLP III S.adm a2 d trw PYn k rr.bY : M no- do-r4 w mua.+rw . b rM and d dye PNn; i•1 VMlrq M Cpd+bvliww b I ~• 1•+r E TM ppnlrA+ulbn ad• pur•uard to $aAipn 4.tA by w {ar any , amp N not - an •IyrL4a .. wt+eU»r 1M oar- fribertiorw an made by Crs pulirparn a try tM rmploy«, 'lull b. fuly veN•d .nd rran.Inr- INabls for sY pugloree. ARTICLE N TM amMVJmanta m tM Plan all ionh b M'aie• I thwuph III above shrR M aHacl;v. r d easy 1. 1841, ARTICLE V Ezoepl r hardnahove Amended h Mile 1 Ihrouph N Mrove, lM Enybyw hereby nadada, .a.a eallirme and nd•elares nosh antl every y+~,~ govkion d [M Pbn. W WETNESS WHEREOF, Ilw Enpby«, at tM d'wwrlion d Ne CBy Caundl .nd wfh IM Mnwnl d tM Padiaip.nb, has prtt+led Ihk Amerd- menl Y d IM dry d ___.-__-,~, 1491- TOWN OF VAIL BY: PUdlahd it TM Y 1 Trai4 on ~ ~. .. 71. 198E Public Notice THIS NOTICE aerras b adviN shat a Spacial Medinp d tM Local Lk•ne:rg Rmhwly la lM Town d Vall will M convened on TuaadrY. Naverrbsr 2S, 1941 tl 9D0 am,. In IM Couu~l CFUrrbws d lM Yai Muniapal Bufdinp, 75 BWh Frant.pe Road. VaY, Coorado. TM apen~ M k as rdbvr: Canaideratiorr d tlr Au[horiy d • Rawl Liq~ ua 9Twe Liwrw d Cuhfe kdernaripntl, Ltd., dba, L'quan To Cio. TM puWiar hritw b War1e and M heard. TOWN OF VAIL LOCAL LIQUOR LK:ENSNO AUTHORITY Martha 3. Raaak« Aaaktad 9eaeWy b IM Avthaily Pudiahd h TM Vail Tral m Nowreb« 22, 1991 Public Notice NOTICE OF HNAL bETTI.EMENT Pwausnl b Ba3ian 38-26107 C.R.S. 1473. M amerrdwr dr Toren d Vag hereby pAw mica ehtl m Odohar 2t, 1991, a•Itkmsd steel a made b LAM Erd•rpkr in a9 work p«la• and on p» Bodh GrA Aodrlal Fla:wd Mlipa- lion Irrsxovemenb faasrd wilhLr pro Town d Val. Cdarwo. MY person, myadnwahp. M- eppitlbn d pogpnr, ,. a aorPatlion Ihat tell IwMhed labor, ma6eriab, , a retest ala>ptks aced by ouch oadradw a ib arnc~orr- vadon h a abort pw pedomruwe d Nr wok oodractw b M dance and wlwss dkm rherebl. has nor Loan paid by dr Dalirada a his Sr4 eonbAdan w b End kWudip uy Erne d Tavel aeNbmrp 'r requires b Fib a rwTisd atalanwnl d tM aurcud dw and unpaid wNh dra Tam d Val, Anantion: Dr•p fIaIL 7S Sornh Frontage Hood. Vail Colorado 81&57 orr a balsa Nwem bar ?2, IpD1 a ply Tartu d Vag wNl M refeaaed tram soy rod cep kebi9ty for ouch chin TOWN OF VAk Cleo Flap 7l1m mpcge 70 .... _.._.- ........,..._.,c.. .. .~.... ,. ~,1... ..... ,,t ~X,j. ,.._. ~'s i~gr.:'~.~>:" -,u, t r i.. "., .~ a. 1 ~r~RR?, E,t iL~_.lJ;~~rt aa+t `~;7'.~8's9:$~ ss~~'~~~F ~IriAi. r ' ~. . 1~IN7ii~~iwrl~ ~ ~,~~ r:~ - ev, ~~_w e ,L_Y~ ~~~,..i:.,`32