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Home My WebLink AboutR90-082 issuance of revenue refunding bonds for Vail Associatesr commissioner moved adoption ♦ f the following • ♦. PLESOLUTION NO. 90-- r WHEREAS, VAIL ASSOCIATES, INC. and BEAVER CREEK ASSOCIATES, INC. (the "Companies ") have advised the Eagle County Board of County Commissioners (the "Board ") of its desire to refinance certain sports and housing facilities located in Eagle County for use by the Companies (the "Projects "); and WHEREAS, the Board is authorized by the Colorado County and Municipality Development Revenue Bond Act, as amended, to issue its revenue bonds to refinance capital projects such as that of the Companies; and WHEREAS, the Companies have requested that the Board issue its revenue bonds in an amount not exceeding $46,800,000 to finance all or a portion of the cost of the refinancing of the Projects: NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: Section 1. A public hearing is hereby called and shall be held on August 20, 1990 at 1:30 p.m. at the County Courthouse in Eagle, Colorado, in the Commissioners' hearing room. Section 2. The County Clerk and Recorder shall cause notice of the public hearing to be published in the Vail Daily and the Eagle Valley Enterprise, being newspapers of general circulation ink areas of Eag e County where the Projects are located, at least once, not less than 15 days prior to the date fixed for the hearing. Said notice is set forth in Exhibit "A," attached hereto and made a part hereof by this reference. Section 3. This Resolution shall take effect immediately upon its adoption. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County Eagle, State of Colorado, at its regular meeting held theme � day of July, 1990. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By Cil By; �lJ err to tnerBoarcr ot Do a . Welch, C airman County Commissioners George . Gates, Commissioner Commissioner d((572y'SdA) seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Donald H. Commissioner George A. Commissioner Richard L Welch Gates Gustafson This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. EXHIBIT A PUBLIC NOTICE 4 NOTICE OF PUBLIC HEARING ON PROPOSED ISSUANCE OF SPORTS AND HOUSING FACILITIES REVENUE REFUNDING BONDS UNDER THE COLORADO COUNTY AND MUNICIPALITY DEVELOPMENT REVENUE BOND ACT TO ASSIST IN THE REFINANCING OF PROJECTS FOR VAIL ASSOCIATES, INC. AND BEAVER CREEK ASSOCIATES, INC NOTICE is hereby given that the Board of County Commissioners of the County of Eagle, State of Colorado, will meet on August 20, 1990 at 1:30 p.m. in the Commissioners' meeting room at the County Courthouse in Eagle, Colorado, for the purpose of conducting a public hearing on a proposal that the County issue revenue bonds, in one or more series under the Colorado County and Municipality Development Revenue Bond Act for the purpose of refunding certain prior bonds, issued by the County, the Town of Avon and the Town of Vail in 1980, 1981, 1984 and 1986, in order to assist in the refinancing of projects owned and operated for use by Vail Associates, Inc. and Beaver Creek Associates, Inc. The projects consist of certain sports and recreation and housing facilities used in conjunction with the Vail and Beaver Creek mountain skiing complexes located in the County. The total amount of bonds to be issued for the refinancing of the projects is $46,800,000. The Bonds of Eagle County shall be payable solely from the revenues derived from payments by Vail Associates, Inc. and Beaver Creek Associates, Inc. and other available revenues, and no holder of any such bonds shall have the right to compel any exercise of the taxing power of the County to pay such bonds. All persons interested may appear and be heard at the time and place set forth above. By order of the Eagle County Board of County Commissioners this 30th day of July, 1990. /s/ Johnnette Phillips Clerk to the Board of County Commissioners Published August 2, 1990, in the Eagle Valley Enterprise and in the Vail Dailv.