HomeMy WebLinkAboutMinutes 06/12/96
BOARD OF COUNTY COMMISSIONERS
EAGLE, COLORADO
RECORD OF PROCEEDINGS
FORM 50 HOECKEL'S 387869
SPECIAL MEETING
JUNE 12, 1996
Present: George "Bud" Gates
Johnnette Phillips
James Johnson, Jr.
Robert Loeffler
Earlene Roach
Chairman
Commissioner
Commissioner
Ass' t. County Attorney
Deputy Clerk to the Board
This being a Special Meeting the following items were presented to the
Board of County Commissioners for their consideration:
Commissioner Phillips moved to adjourn as the Easle County Terminal
Corporation and reconvene as the Board of County Commlssioners.
Commissioner Johnson seconded the motion. The vote was declared
unanimous.
Airport Tenninal Revenue Bonds
Bob Loeffler, Ass't. County Attorney, stated this meeting was called to
continue discussion on the Airport Teminal Revenue Bonds. He stated the
first item is public comment.
Steve Larson, representing Vail Beaver Creek Jet Center, questioned the
availability of offering the memorandum and the performa. He stated
according to the Tax Refonn Act these would be required. He stated County
Attorney advised those would not be available for approximately three days.
The County should provide that information to the public.
Mr. Loeffler stated Mr. Larson has made an open records request and the
County will respond in the context of the request. He disagreed the law
requires those documents now. He stated those documents will be submitted by
8:00 a.m., Friday, June 14, 1996.
Mr. Larson renewed the objection to the Board taking action on this
matter until those documents can be reviewed.
Mr. Loeffler stated he believed Mr. Larson to be wrong and the Board can
take action on this matter, and those documents be supplied by the date
mentioned. He stated a response will be supplied in an organized fashion.
He stated the request for documents will be dealt with on Friday and the bond
issue can be dealt with today.
Chairman Gates stated the Board may then proceed.
K.T. Gazunis, Eagle County Analysts, pointed out she has also asked for
the memorandum and other documents.
Mr. Loeffler stated he only received a request for the performa and
asked for her address and related those documents would be mailed.
Chairman Gates closed public comment.
Commissioner Johnson moved to approve the Resolution regarding the
issuance of bonds for the Eagle County Airport Terminal Corporation, for up
to $11,000,000.00.
Commissioner Phillips seconded the motion.
In discussion, Bob Loeffler reiterated the Amendment One issues were
addressed by Bond Council, County Finance Office and the County Attorney's
Office. He stated the PFC's would not be a grant under Amendment One nor
would the revenues fall under Amendment One. This matter has been set up
that if there are no PFC' s it would be covered by American Airlines. He
stated multiple fiscal year obligations have been considered and the
inderrmity clauses have been delegated to the Corporation. The County is not
responsible for them. He stated the one inderrmity the County retains control
over is the litigation inderrmity. He stated he does not belleve any of the
inderrmities will violate Amendment One. Mr. Loeffler stated the transaction
will be limited to institutional lenders who will have a complete
understanding of the bonds.
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Commissioner Phillips stated she has great comfort all items have been
researched. She stated as she voted no to build the new terminal, she will
also be voting no on the bond issue.
Chairman Gates called for the question on the motion. Commissioners
Gates and Johnson voting aye. commissioner Phillips voting no.
Commissioner Johnson moved to adjourn.
Commissioner Phillips seconded the motion. The vote was declared
unanimous.
Attest: ~~~~~
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