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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. 1 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: ~~~~~ 2