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HomeMy WebLinkAboutR06-089 - election resolution on behalf of Eagle Valley Library District Commissioner :)1 O~L moved adoption of the following Resolution: BOARD OF COIJNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2006 - CONCERNING ELECTION RESOLUTION ON BEHALF OF THE EAGLE V ALLEY LIBRARY DISTRICT WHEREAS, the County of Eagle (the "County") in the State of Colorado, is a county duly organized and existing under the Constitution (the "Constitution") and the laws of the State of Colorado; and WHEREAS, the members of the Board of County Commissioners (the "Board") have been duly elected, chosen and qualified; and WHEREAS, Article X, Section 20 of the Colorado Constitution ("TABOR") requires voter approval for any new tax, the creation of any debt and for spending certain moneys above limits established by TABOR; and WHEREAS, pursuant to Sections 24-90-112 and 112.5, C.RS. and TABOR, the Board of Trustees of the Eagle Valley Library District (the "District") has requested that the Board submit to the registered electors residing in territory within the County which is included in the District the ballot questions described in Exhibit A authorizing the County on behalf of the District to (i) increase the mill levy to finance the costs of operation and maintenance of the District and its libraries; and (ii) issue general obligation bonds to finance the constructing and expanding of District libraries (the "Project"); and WHEREAS, November 7, 2006, is one of the election dates at which ballot issues may be submitted to the eligible electors of the District pursuant to TABOR; and WHEREAS, it is necessary to set forth certain procedures concerning the conduct of the election; and WHEREAS, the County Clerk of Eagle County (the "County Clerk") is conducting a coordinated election on November 7,2006 (the "Election"); and WHEREAS, it is necessary to submit to the registered electors residing in territory within the County which is included in the District, at the Election, the ballot questions described in Exhibit A authorizing the County on behalf of the District to increase the mill levy to finance the costs of operation and maintenance of the District and its libraries and to issue general obligation library bonds to finance the Project. NOW, THEREFORE, BE IT RESOL VED BY THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, IN THE STATE OF COLORADO: THAT, all action heretofore taken (not inconsistent with the provisions of this resolution) by the County, directed towards the Election is ratified, approved and confirmed. Unless otherwise defined herein, all terms used herein shall have the meanings specified in 1-1 104, C.RS. THAT, pursuant to the Code, Sections 24-90-112(1)(b)(III) and 112.5, C.RS., and all other applicable laws of the State of Colorado, the Board hereby determines to submit to the registered electors residing in territory within the County which is included in the District the questions set forth in Exhibit A hereof at the Election. THAT, the purpose of the proposed general obligation indebtedness is to construct and expand libraries and related facilities as described in the form of the question set forth in Exhibit A. THAT, the amount of indebtedness to be incurred shall not exceed $15,000,000. THAT, the maximum net effective interest rate to be paid on such indebtedness shall not exceed 7.0%. THAT, the Election shall be held and conducted in accordance with all applicable provisions of the Uniform Election Code of 1992. THAT, notice of the election shall be posted pursuant to Section 30-26-301, C.RS.. The polling places for the election shall be the same as those designated by the County Clerk for the coordinated Election, unless otherwise approved by the Board. THAT, if a majority of the votes cast on the questions to authorize an increase in the operation and maintenance mill levy and to authorize an increase in the general obligation indebtedness and the levy of ad valorem property taxes to pay the principal of and premium, if any, and interest on such general obligation indebtedness submitted at the election shall be in favor of increasing the operation and maintenance mill levy, incurring general obligation indebtedness and levying ad valorem property taxes as provided in such questions, the Board shall be authorized to proceed with the necessary action to increase the operation and maintenance mill levy and to incur general obligation indebtedness and levy ad valorem property taxes in accordance with such questions on behalf of the District. THAT, any authority to increase the operation and maintenance mill levy or to contract general obligation indebtedness or to levy ad valorem property taxes to pay such indebtedness, if conferred by the results of the election, shall be deemed and considered a continuing authority to increase the operation and maintenance mill levy and to contract the general obligation indebtedness and levy the ad valorem taxes so authorized at anyone time, or from time to time, and neither the partial exercise of the authority so conferred, nor any lapse of time, shall be considered as exhausting or limiting the full authority so conferred. THAT, pursuant to Section 1-11-203.5, C.RS., any election contest arising out of a ballot issue or ballot question election concerning the order of the ballot or the form or content of the ballot title shall be commenced by petition filed with the proper court within five days after the title of the ballot issue or ballot question is set. THAT, the officers and employees of the County are authorized and directed to take all action necessary or appropriate to effectuate the provisions of this resolution. THAT, if any provision of this resolution shall be held to be invalid or unenforceable, the invalidity or unenforceability of such provision shall not affect any of the remaining provisions of this resolution. THAT, all acts, orders or resolutions, or parts thereof, in conflict with this resolution are repealed. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 15th day of August, 2006. ATTEST: Commissioner Commissioner seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Runyon Commissioner Menconi Commissioner Stone This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. EXHIBIT A (FORM OF ELECTION QUESTIONS) TAX INCREASE: SHALL EAGLE COUNTY TAXES FOR THE SUPPORT OF THE EAGLE V ALLEY LIBRARY DISTRICT BE INCREASED $1,875,000 ANNUALLY IN 2007 (THE FIRST FULL FISCAL YEAR) OR BY SUCH AMOUNT AS MAYBE RAISED ANNUALLY THEREAFTER BY THE IMPOSITION OF AN ADDITIONAL AD VALOREM PROPERTY T AX RATE OF 1.25 MILLS, RESULTING IN A TOTAL MILL LEVY RATE FOR DISTRICT PURPOSES, EXCLUSIVE OF REFUNDS, ABATEMENTS, OR DEBT SERVICE, OF NOT TO EXCEED 4 MILLS; AND SHALL THE COUNTY AND THE DISTRICT BE AUTHORIZED TO COLLECT, RETAIN AND SPEND ALL REVENUE COLLECTED FROM SUCH TOTAL TAX RATE AND INVESTMENT INCOME THERE ON, COMMENCING JANUARY 1,2007, AND CONTINUING THEREAFTER, AS A VOTER- APPROVED REVENUE CHANGE, OFFSET AND EXCEPTION TO THE LIMITS WHICH WOULD OTHERWISE APPLY UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION, OR ANY OTHER LAW, AND AS A PERMANENT WAIVER OF THE 5.5% LIMITATION UNDER SECTION 29-1-301, C.RS.? LIMITED TAX DEBT QUESTION: SHALL EAGLE COUNTY DEBT BE INCREASED $15,000,000, WITH A REPAYMENT COST OF $36,270,000, FOR THE PURPOSE OF CONSTRUCTION AND EXPANSION OF LIBRARIES INCLUDING WITHOUT LIMITATION THE REGIONAL LIBRARIES IN AVON, EAGLE AND GYPSUM; SUCH DEBT TO BE PAYABLE FROM THE COUNTY TAX LEVY FOR DISTRICT PURPOSES AND EVIDENCED BY THE ISSUANCE OF LIMITED TAX GENERAL OBLIGATION BONDS BEARING INTEREST AT A MAXIMUM NET EFFECTIVE INTEREST RATE NOT TO EXCEED 7.00%; SUCH BONDS TO BE SOLD IN ONE SERIES OR MORE, FOR A PRICE ABOVE OR BELOW THE PRINCIPAL AMOUNT OF SUCH SERIES, ON TERMS AND CONDITIONS, AND WITH SUCH MATURITIES AS PERMITTED BY LAW AND AS THE COUNTY MAY DETERMINE, INCLUDING PROVISIONS FOR REDEMPTION OF THE BONDS PRIOR TO MATURITY WITH OR WITHOUT PAYMENT OF THE PREMIUM OF NOT TO EXCEED 3.00%; AND SHALL THE COUNTY BE AUTHORIZED TO ISSUE DEBT TO REFUND THE DEBT AUTHORIZED IN THIS QUESTION, PROVIDED THAT SUCH REFUNDING DEBT, ALONG WITH ANY OTHER DEBT INCURRED BY THE COUNTY PURSUANT TO THIS AUTHORIZATION, IS ISSUED ON TERMS WHICH DO NOT EXCEED THE PRINCIPAL, INTEREST AND REPAYMENT COSTS FOR THE DEBT AUTHORIZED IN THIS QUESTION; AND SHALL THE EARNINGS FROM THE INVESTMENT OF SUCH BOND PROCEEDS AND TAX REVENUES BE COLLECTED, RETAINED AND SPENT AS A VOTER APPROVED REVENUE CHANGE UNDER ARTICLE X, SECTION 20 OF THE COLORADO CONSTITUTION OR ANY OTHER LAW?