HomeMy WebLinkAbout2001-03 Expressing the Intent of the Town of Vail to enter into a Tax-Exempt Obligation to Finance Donovan Park PavilionRESOLUTION N0.3, SERIES OF 200
A RESOLUTION EXPRESSING THE INTENT OF THE TOWN OF VAIL TO ENTER
INTO A TAX_EXEMPT OBLIGATION IN THE APPROXIMATE AGGREGATE
PRINCIPAL AMOUNT OF $3,500,000 TO FINANCE DONOVAN PARK PAVILION;
AND AUTHORIZING THE OFFICERS, EMPLOYEES AND AGENTS OF THE TOWN
TO PROCEED AND CONTINUE WITH STEPS PRELIMINARY TO THE EXECUTION
AND DELIVERY OF SUCH LEASE.
WHEREAS, the Town of Vail (the "Town"}, is a municipal corporation duly
organized and existing as a home-rule municipality under Article XX of the State
Constitution (the "Constitution"} and laws of the State of Colorado; and
WHEREAS, the members of the Town Council of the Tawn (the "Council"} have been
duly elected and qualified; and
WHEREAS, the Town intends and proposes to issue atax-exempt obligation (the
Obligation"} to finance the acquisition of a community center at Donovan Park (the
Projec#").
NOW, THEREFORE, BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF VAIL, IN THE COUNTY OF EAGLE, STATE OF COLORADO:
Section 1. All action (not inconsistent with the provisions of this resolution} heretofore
taken by the Town Council and the officers, employees and agents of the Town directed
toward the Lease is hereby ratified, approved and confirmed.
Section 2. The Town intends to issue the Obligation in the approximate aggregate
principal amount of $3,500,000 to pay the costs of the Project, including the
reimbursement of certain costs incurred by the Town prior to the execu#ion and delivery
of the Obligation, upon terms acceptable to the Town, as authorized in an ordinance or
resolution to be hereafter adopted and to take all further action which is necessary or
desirable in connection #herewith.
Section 3. The officers, employees and agents of the Town shall take all action
necessary or reasonably required to carry out, give effect to and consummate the
transactions contemplated hereby and shall take all action necessary or desirable to
finance the Project and to otherwise carry out the transactions contemplated by this
resolution.
Section 4. The officers and employees of the -Town are hereby authorized and
directed to take all action necessary or appropriate to effectuate the provisions of this
resolution.
i • •
Section 5. If any section, paragraph, clause or provision of this resolution shall for
any reason be held invalid or unenforceable, the invalidity or unenforceability of such
section, paragraph, clause or provision shall not affect any of the remaining provisions
of this resolution.
Section 6. A!I acts, orders and resolutions of the Council, and parts thereof,
inconsistent with this resolution be, and the same hereby are, repealed to the extent
only of such inconsistency. This repealer shall not be construed to revive any act, order
or resolution, or part thereof, heretofiore repealed.
Section 7. This resolution steal! be in full force and effect upon its passage and
approval.
PASSED AND ADOPTED this August 7, 20Q1.
l Jam, `,~ cI~,1~SEAL
Ludwig Kurz, M~ior
SEAL) ~,,~`
n~.~;,~i;.
Attest: ~~~,~„~~~~~}~~~~ ,
Lo~r~le' Donaldson, Town Clerk
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