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HomeMy WebLinkAboutR81-09 Beaver Creek Series 1980 Sports Facility~ - ~ ~J EAGLE COUNTY, COLORADO RESOLUTION Adopted: February 25, 1981 ~i- 9 APPROVING AND CONSENTING TO CERTAIN AMENDMENTS TO THE FINANCING DOCUMENTS UNDER WHICH THE COUNTY ISSUED $14,300,000 AGGREGATE PRINCIPAL AMOUNT OF ITS SPORTS FACILITY REVENUE BONDS (BEAVER CREEK PROJECT), SERIES 1980 WHEREAS, Beaver Creek Associates, Inc. (the "Company") has requested the County to consent to certain amendments to the financing documents under which the County issued $14,300,000 aggregate principal amount of its Sports Facility Revenue Bonds (Beaver Creek Project), Series 1980 (the "Bonds"), such amendments being requested to enable the Company to convert the existing loan for the construction of the Project Facilities to a term loan on or about March 1, 1981 instead of November 1, 1981; and ' WHEREAS, such amendments are set forth in an "Agreement Supplementing a Trust Indenture, a Financing Agreement and a Note Purchase Agreement" dated as of March 1, 1980 (the "Agreement"). NOW, THEREFORE, be it resolved by the Board of County Commissioners of Eagle County, Colorado that: 1. The County hereby approves and consents to the amendments set forth in the Agreement, and directs that the Company file a copy thereof with The First National Bank of Denver, as Trustee in respect of the Bonds, for such Trustee's review and consent 'in accordance with the Indenture; and following such review and consent by the Trustee, the Chairman of the Board of County Commissioners is hereby authorized and directed to execute, and the County Clerk is hereby authorized and directed to affix the seal of the County to and attest, the Agreement in substantially the form submitted to this meeting, with such changes as such officers shall approve, such approval to be evidenced by their signatures. 2. This resolution shall take effect immediately upon its adoption by not less than a majority of the Board of County Commissioners; except as expressly amended or supplemented by this resolution or by the Agreement, the County confirms its resolution adopted January ?, 1980 authorizing the issuance of the Bonds. Duly introduced, read and adopted upon the affirmative vote .of ~ members~of the Board of County Commissioners of Eagle County, Colorado at a public meeting of such Board held this 25th day of February, 19 81. r'~ ~l~' ~[SEAL],~ ~ ,test: ,~~ , '~ County Clerk ~~ EAGLE ~QUNTY, COLD commissioner Commission