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HomeMy WebLinkAboutMinutes 10/19/93 BOARD OF COUNTY COMMISSIONERS EAGLE, COLORADO RECORD OF PROCEEDINGS FORM 50 HOECKEL'S 387889 PUBLIC HEARING OCTOBER 19, 1993 Present: George "Bud" Gates James Johnson, Jr. Johnnette Phillips Mary Jo Berenato Sara J. Fisher Chairman Conmissioner conmissioner Deputy County Attorney Clerk to the Board This being a scheduled Public Hearing the following items were presented to the Board of County Conmissioners for their consideration: Resolution 93-120 Jack Lewis, County Manager, presented Resolution 93-120, appointing members to the Trans~ortation Committee. Commissioner Ph1llips moved the Board of County Commissioners sign Resolution 93-120, appointing members to the Transportation Committee. Commissioner Johnson seconded the motion. The vote was declared unanimous. Kathy Heicher, area resident, questioned what would happen to the committee if the tax is not approved? Commissioner Johnson stated the County still needed a comprehensive transportation plan. Allen Best, area resident, responded this tax could answer a current need in Eagle County. Commissioner Johnson stated perhaps in the past there has not been a method for utilizing such transportation needs. , Further discussion followed on the Transportation Committee and transportation needs within the County. Resolution 93-121 Allen Sartin, Finance Director presented Resolution 93-121, Authorizing the Issuance of Eagle County General Obligation Refunding Bonds, Series 1993 Dated November 1, 1993. Mr. Sartin stated preliminary estimates would generate savings of $970,000 and hit an interest rate of 4.2~. He stated that amount was premised on getting an "A" rating and being able to insure the bond issue. Mr. Sartin informed the Board, do to Amendment One the County was unable to obtain Bond Insurance. Mr. Sartin stated there was also a slight degrading of the Bond rating from and A to an A minus, which resulted in a 41 basis points change in the interest rate thus establishing a new interest rate of 4.83~ which reduces the overall savings from $970,000 to $859,879. Jack Lewis responded getting an A minus rating shows the financial stability of Eagle County. He commented due to Amendment One there is no bond insurance available in Colorado and should not be a reflection of just Eagle County. ' Mr. Sartin introduced Matt Hogan and Gerald Kintzle from Hannen and Inhoff, and Stan Bernstein, Bond Counsel. Mr. Bernstein informed the Board the building would be paid of in the year 2005. Jack Lewis pointed out the County is not lowering the debt service and are still paying the amounts anticipated. He stated the County does not have to ~ay during the last three years which is where the savings will be. Mr. LeW1S stated the refunding process will not lower taxes for anyone. Allen Sartin stated last years levy for the debt service was .831 mills. He related based on the preliminaries for this refunding process anticipated levies for 1994 will be .824. Jerry Kintzle commented Standard and Poors were impressed with the financial condition in which Eagle County is considered to be an A credit. 1 He stated Eagle County was considered in with other Colorado Mountain Resort Communities as well as pitkin County who also has an A minus rating. Commissioner Philli~s moved the Board of County Conmissioners approve Resolution 93-121 author1zing the Issuance of Eagle County General Obligation Refunding Bonds Series 1993 Dated November 1, 1993 at 4.2~ interest rate. The amount of savings will be $859,000. Commissioner Johnson seconded the motion. The vote was declared unanimous. commissioner Phillips moved the Chairman be authorized to sign the Bond Purchase Agreement. Commissioner Johnson seconded the motion. The vote was declared unanimous. Blue Grouse Club - Eagle Ranch Sid Fox, Planning Manager, presented an application for zone change for what was previously referred to as the Blue Grouse Club. He stated access to the property is from the 1-70 Eagle interchange heading North on Eby Creek road. Mr. Fox related zoning was placed on the site and approved for 325 units. He advised in accordance with land use regulations, Staff has determined the preliminary plan has expired due to a lack of planning acti vi ty . Mr. Fox stated the owner of the property, Jessica Kato, applied for a building permit for a single family residence but investigation by Staff found it would be prudent to change the zoning of the property back to resource. He related the applicant has agreed to the zone change process. Staff recommended approval of the zone change in accordance with the Eagle County Land Use Regulations Section 2.14.04. commissioner Johnson moved the Board approve file ZC-257-93, including Staff findin~s. Commiss1oner Phillips seconded the motion. sid Fox requested the signing of resolution be included in the motion. commissioner Johnson amended his previous motion to include signature of the resolution. commissioner Phillips seconded the amendment. The vote was declared unan1mous. Chairman Gates called for question on the motion. The vote was declared unanimous. There being no further business to be brought before the Board the meeting was adjourned. Attest: ~Q~ ~ k j,~ Cr-e to t oa~ - ~ '6 r~A~~/ ~ .. a1 2