HomeMy WebLinkAbout1970-10-07 Town Council MinutesSPECIAL MEETING
OF
THE BOARD OF TRUSTEES
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The special meeting of the Board of Trustees of the Town of
Vail was held on October 7, 1970, at 12:00 noon, at Mill Creek
Court, at the Municipal Town Office.
The following Trustees were present:
Mayor Dobson
John Donovan
Richard Bailey
Gary White
Others present were:
Terrell Minger
The meeting was called to order by the Town Manager, T. Minger.
It was put before the Board to adopt Ordinance No. 13 1970
Series:
AN ORDINANCE AUTHORIZING THE BORROWING OF $50,000 FOR
PUBLIC PURPOSES, AND SETTING FORTH DETAILS RELATING THERETO.
A motion was made by Mayor Dobson and seconded by Trustee
Bailey to adopt said ordinance.
VOTE: Mayor Dobson Yes
John Donovan Yes
Richard Bailey Yes
Gary White Yes
There being no further business, the meeting adjourned at
12:30 P.M.
•
ORDINANCE NO. 13
Series of 1970
AN ORDINANCE AUTHORIZING THE BORRO!^LING OF $50,000 FOR PUBLIC
PURPOSES, AND SETTING FORTH DETAILS RELATING THERETO.
�JHEREAS, The Board of Trustees of the Town of Vail
reauires immediate funds to discharge financial obligations
which have been contracted for public purposes in the amount
of $50,000: and,
WHEREAS, The Officers of the Town of Vail are able
to negotiate a loan of *50,000 from the Bank of Vail to meet
these obligations and the revenue from the Town of Mail for
the immediate future will be sufficient to discharge and re-
pay said debt -
NOW, THEREFORE., BE IT ORDAINED BY THE BOARD OF
TRUSTEES OF TPE TOT,MT OF V.AIL, COLOR.ADO, TEAT:
Section 1. Authorization is hereby created to
create indenrtectness in the amount of $50,000 by borrowing
said amount from the Sank of Vail or other lending insti-
tutions for a period of at least ninety (90) days but not
exceeding one hundred eighty (180) days. The Officers of
the Town of Fail are authorized to execute any necessary
document to evidence said indebtedness, including, prom-
isory notes or other instruments which may be required.
Section 2. This ordinance shall be irrepealable
until the full amount of the indebtedness herein authorized
shall be fully repaid.
Section 3. The Board of Trustees find that this
ordinance is necessary to protect the public health and wel-
fare; that this ordinance shall become effective upon its
introduction and adoption and shall be published in accord-
ance with the laws of the State of Colorado.
TNTFODUCED, READ AND ORDERED PUBLISHED THIS DAY OF
OCTOBER, 1970.
v
MAYOR
ATTEST:
TOWN CLERK ���
0,
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The Town of VAIL, Colorado
Box 631 • Vail, Colorado • 81657
Telephone 303 475 - 5613
October 7, 1970
VAIL BOARD OF TRUSTEES
VAIL, COLORADO
DEAR BOARD MEMBER:
PLEASE BE INFORMED THAT THERE WILL BE A BOARD OF
TRUSTEES MEETING AT THE VAIL ELEMENTARY SCHOOL ON MONDAY,
OCTOBER 12, 1970, AT 7:30 P.M.
YOUR ATTENDANCE WOULD BE MOST APPRECIATED.
r'wnw1L �C�
ANNE HOGAN
TOWN OF VAIL
SECRETARY