HomeMy WebLinkAbout1992-13 to Hire Certain Consultants to Provide Expert Advice to the Town for the Purpose of Protecting the Town's Interest in the Proper Operation and Management of Vail AssociatesRESOLUTION NO. 13
SERIES 1992
A RESOLUTION AUTHORIZING THE TOWN OF VAIL
TO HIRE CERTAIN CONSULTANTS TO PROVIDE EXPERT ADVICE TO THE TOWN
FOR THE PURPOSE OF PROTECTING THE TOWN'S INTEREST
IN THE PROPER OPERATION AND MANAGEMENT OF VAIL ASSOCIATES.
WHEREAS, Gillett Holdings, Inc. and its subsidiary, Vail Associates, Inc. are both debtors
in consolidated Chapter 1 i bankruptcy proceedings pending in the United States Bankruptcy
Court for the District of Colorado; and
WHEREAS, the continued successful operation of Vail Associates, Inc. is of great
importance to the health, safety, and welfare of the Town of Vail; and
WHEREAS, this bankruptcy proceeding may have a significant impact on the structure and
operations of Vail Associates, inc.; and
WHEREAS, the Town Council believes it has an obligation and duty to the Town's
residents, business people, and visitors to investigate and evaluate all the Town's options to
ensure the continued effective and proficient management and operation of Vail Associates, Inc.;
and
WHEREAS, on the 20th day of August, 1991, the Town Council passed Resolution No.
16, Series of 1991, which gave the Town Council the authority to take all steps necessary to
protect the public interest in the continuation of the effective and proficient management and
operation of Vail Associates, Inc.; and
WHEREAS, in order to continue the evaluation of its options in this regard, and in
furtherance of Resolution No. 16, Series of 1991, it is necessary for the Town to retain certain
consultants to provide expert advice to the Town Council.
NOW, THEREFORE, tie it resolved by the Town Council of the Town of Vail, Colorado:
1. The Town Council shall retain a team of legal consultants to include the law firms
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of Kutak Rack, Opperman & Associates, and Wilke Farr & Gallagher. In addition, it shall take all
steps necessary to retain an investment banking company and financial advisor to be chosen
through an appropriate selection process.
2. The Town Manager and other members of the Town staff are hereby authorized
to take all steps necessary and proper in furtherance of this resolution.
3. This resolution shall take effect immediately upon its passage.
INTRODUCED, READ, APPROVED AND ADOPTED this 4th day of August, 1992.
Margar A. Osterfoss, Ma r
ATTEST: --
Martha S. Raecker, Town Clerk
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