HomeMy WebLinkAboutR86-070 bond issuances Town of Vail and Town of AvonD5262
07/11/86
Commissioner S- 14790n) moved adoption of the following
Resolution:
EAGLE COUNTY, COLORADO
RESOLUTION NO. �10
Adopted: August 25, 1986
3436`f25
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PAGEE. a�......
JUNNETTE PHILLIPS
EAGLE GTY. i1EG0R3El1
�10, A RESOLUTION APPROVING BOND ISSUANCES BY THE
TOWN OF VAIL AND THE TOWN OF AVON; AUG 23 4 33 PM 486
AUTHORIZING REPRESENTATIVES OF THE COUNTY TO
TAKE ACTION INCIDENTAL THERETO; AND PROVIDING
THE EFFECTIVE DATE OF THIS RESOLUTION.
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, 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, 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;" and
WHEREAS, the Town Council of the Town of Avon conducted
a public hearing on behalf of the Eagle County Board of County
Commissioners on August 12, 1986; and
WHEREAS, the Town Council of the Town of Vail conducted
a public hearing on behalf of the Eagle County Board of County
Commissioners on August 19, 1986.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY _
COMMISSIONERS OF EAGLE COUNTY, COLORADO, AS FOLLOWS:
Section 1. Approval of Issua
Vail. In view of the requirements of the
approves the issuance by the Town of Vail
aggregate principal amount of $2,600,000
Project.
of
Code, the County her
of its bonds in the
to refinance the Vail
Section 2. Approval of Issuance of Bonds by Town of
Avon. In view of the requirements of the Code, the County hereby
approves the issuance by the Town of Avon of its bonds in the
aggregate principal amount of $2,700,000 to refinance the Beaver
Creek Project.
- - -�- -•• �. nu uiv . �.zal..L Vi1 yi l:OUIILV HepreSentatlVeS
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 25th day of August, 1986.
ATTEST:
�the Clerk of ard ofd
County Commissioners
COUNTY OF EAGLE,
STATE OF COLORADO
By and Through its
BOARD OF COUNTY COMMISSIONERS
Dona
Richard
John Loughran U
County Commissioner
an
D5262 2 07/11/86
N
Commissioner 46gflll'f��I) seconded the adoption of the
foregoing Resolution. The roll call having been called, the vote
was as follows:
Commissioner Donald Welch��
Commissioner Richard Gustafson
Commissioner John Loughran _",e,
This Resolution adopted by Q/!/Ml'&OeeS vote of the
Board of County Commissioners of the County of Eagle, State of
Colorado.
D5262
3
Certified as complete and
accurate this "'r—�7day of
August, 1986.
�'ounty Clerk
07/11/86
r.
j
3
' �
T
Commissioner 46gflll'f��I) seconded the adoption of the
foregoing Resolution. The roll call having been called, the vote
was as follows:
Commissioner Donald Welch��
Commissioner Richard Gustafson
Commissioner John Loughran _",e,
This Resolution adopted by Q/!/Ml'&OeeS vote of the
Board of County Commissioners of the County of Eagle, State of
Colorado.
D5262
3
Certified as complete and
accurate this "'r—�7day of
August, 1986.
�'ounty Clerk
07/11/86
