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HomeMy WebLinkAboutR86-061 bond refinancing Beaver Creek Mountain ImprovementsI D5263 07/11/86 Commissioner SAr;:d� moved adoption of the following Resolution: EAGLE COUNTY, COLORADO l RESOLUTION NO. � / Adopted: July 21, 1986 A RESOLUTION AUTHORIZING A HEARING WITH RESPECT TO BOND ISSUANCE BY TOWN OF AVON FOR REFINANCING OF BEAVER CREEK MOUNTAIN IMPROVEMENTS; AUTHORIZING A HEARING WITH RESPECT TO BOND ISSUANCE BY TOWN OF VAIL FOR REFINANCING OF VAIL MOUNTAIN IMPROVEMENTS; AUTHORIZING REPRESENTATIVES OF THE COUNTY TO TAKE ACTION INCIDENTAL THERETO; AND PROVIDING THE EFFECTIVE DATE OF THIS RESOLUTION. WHEREAS, Beaver Creek Associates, Inc. has requested the Town of Avon to issue industrial development revenue refunding bonds to assist in the refinancing of certain improvements on Beaver Creek Mountain (the "Beaver Creek Project ") located in the unincorporated area of Eagle County; and WHEREAS, Vail Associates, Inc. has requested the Town of Vail to issue industrial development revenue refunding bonds to assist in the refinancing of certain improvements on Vail Mountain (the "Vail Project") located in- the - unincorporated -area of Eagle County; and WHEREAS, pursuant to Section 103(k) of the Internal Revenue Code of 1954, as amended (the "Code "), interest on industrial development bonds is not exempt from federal income tax unless such bonds receive public approval "by the applicable elected representative of such governmental unit after a public hearing following reasonable public notice." NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO, AS FOLLOWS: Section 1. Hearing Regarding Proposed Issuance of Bonds by Town of Avon. In view of the requirements of the Code that the County hold a public hearing in respect of the proposed issuance by the Town of Avon of its bonds to refinance the Beaver Creek Project, a hearing in respect of such issuance shall be conducted by the Town Council of the Town of Avon on behalf of the County on August 12, 1986 at 7:30 p.m. The Town Council of the Town of Avon is hereby appointed for such purpose, and the County Clerk is hereby directed to notify the Town of Avon of such appointment. Section 2. Hearing Regarding Proposed Issuance of Bonds by Town of Vail. In view of the requirements of the Code that the County hold a public hearing in respect of the proposed issuance by the Town of Vail of its bonds to refinance the Vail Project, a hearing in respect of such issuance shall be conducted by the Town Council of the Town of Vail on behalf of the County on August 19, 1986 at 7:30 p.m. The Town Council of the Town of Vail is hereby appointed for such purpose, and the County Clerk is hereby directed to notify the Town of Vail of such appointment. Section 3. Authorization of County Representatives to Take Action in Connection Herewith. The appropriate officers and representatives of the County are hereby authorized and directed to take all action necessary to accomplish the purposes of this resolution. Section 4. Effective Date. This resolution shall take effect immediately upon its adoption. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 21st day of July, 1986. county commissioners D5263 2 COUNTY OF EAGLE, STATE OF COLORADO By and Through its BOARD OF COUNTY COMMISSIONERS By: Dona Welch, Richard us�tafs County Comgis er John Loughran, County Commissioner 07/11/86 Commissioner seconded the adoption of the foregoing Resolution. The roll having been called, the vote was as follows: Commissioner Donald Welch Commissioner Richard Gustafson y� Commissioner John Loughran This Resolution adopted by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. Certified as complete and ac urate thisa/ day of 1986 County Clerk D5263 3 07/11/86