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HomeMy WebLinkAboutR84-73 TOV industrial development revenue bonds for Vail Mountain4549A i EAGLE COUNTY, COLORADO RESOLUTION NO ,,Y�L— 73 Adopted: November 14, 1984 A RESOLUTION APPROVING BOND ISSUANCE BY TOWN OF VAIL; AUTHORIZING REPRESENTATIVES OF THE COUNTY TO TAKE ACTION INCIDENTAL THERETO. WHEREAS, Vail Associates, Inc, has requested the Town of Vail to issue industrial development revenue bonds to assist in the financing 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;" 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 October 16, 1984. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, COLORADO, AS FOLLOWS: Section 1. Approval of Issuance of Bonds by Town of Vail. In view of the requirements of the Code, the County hereby approves the issuance by the Town of Vail of its bonds in an aggregate principal amount of up to $20,000,OOo to finance the Vail Project. Section 2. Authorization of County Representatives to Take Action 1n Connection Herewith; Effective Date. opriat The appre officers and representatives of the County are hereby authorized and directed to take all action necessary to accomplish the purposes of this resolution. This resolution shall take effect immediately upon its adoption. INTRODUCED, November, 1984. 1 1 \ t YSEAL) EST- : READ, APPROVED AND ADOPTED this 14th day of County Clerk a Rec ^r er EAGLE COUNTY, COLORADO Chairman, Board or UOunty Commissioners �,e -SSA Count Commissioner County Commissioner 4463A 11/08/84 STATE OF COLORADO ) ss. COUNTY OF EAGLE ) The Board of County Commissioners of Eagle County, Colorado, met in regular session at the McDonald Building, 550 Broadway, Eagle, Colorado, the regular meeting place thereof, on Wednesday, the 14th day of November, 1984, at the hour of 9:30 a.m. The following persons were present: Commissioners: W. Keith Troxel, Chairman Day a c nomtt Dan Williams County Clerk and Recorder: Johnnette Phillips County Attorney: Beth Whittier The following person was absent: ,02910d 4f. ,ry/ r7-1 Commissioner (,L) : / /;5 then informed the Board of County Commissioners that on November 7, 1984, at approximately 9:30 a.m., a public hearing was held at the McDonald Building, 550 Broadway, Eagle, Colorado, on the proposed issuance of Eagle County, Colorado, Sports Facilities Revenue Bonds (Beaver Creek Project), Series 1984 (the "Bonds "). The Commissioner reported that at the public hearing all interested persons were invited to express their views, both orally and in writing on the proposed financing of the Beaver Creek Project and the issuance of the Bonds. Commissioner then introduced and moved the adoption of the following Resolution, authorizing the issuance of the Bonds, in the principal amount of $11,000,000 and providing for the payment of said bonds and the interest thereon, which was read by title, copies thereof having been previously made available to the Board of County Commissioners and to the public: