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HomeMy WebLinkAboutbocc.min.reg.07301957A special meeting was held July 3O, ? 9`~7 at ~: 00 PM with the following; members present Orest A. Crerbaz, Chairman; Comrni:~s i er~ers ~'. J. Sardy, Clarence Quam; Robert Delaney County Attorney; Peggy E. Coble, Clerk, for i;he ~'~~pose of considering bids on airport ,, improvements. Two- bids were submitted b~;in~; those of C. E. r-fills in the amount of ~7~., 391.00' T f bid the ame were 3 f32 00 on o enin~ of s s !~~and Whitewater Sand and Gravel Com an .inc. `~ 5. Up p ~, P y~ ~ !', considered by the Commissioners and by P~Ir. )~i. Brot~m. representinT the Civil Aeronautics ~I Administration. It was there upon deterrined the bids were in excess of the Engineers 'estimate and accordingly additional funds in the sum of `7,4X1.00, of which the sponsors or ~I,County~s share would be X3656.00, would be needed. Thereafter on request of Mr. Brown it was moved by Commissioner Guam, seconded by Commissioner Sandy that the County would appropriate. Ian additional amount of X1,000,00 to help cover the cost of construction making a total !appropri~.tion of X4,000.00 from the County and in addition would agree with the U. S. Government that if an additional amount of up to ;4,000.00 was required to finance the pro- I ject that the County would contribute such amount when and if needed and the Chairman was authorized and directed to execute a letter so providing, providing the Government would contribute the addition al mmount required to make up such deficiency. It was further 'decided that subject to Fe~.eral approval construction contract in accordance with Plans and ,I 'Specifications for which had been solicited would be awarded to C. E. Mills upon his posting' ~ ~,,,,'~ ;bond and otherwise complying ~ th requirements. Thereupon the following resolution was ~ adopted: ~ RESOLUTION WHEREAS, Fitkin County expects to award contract and proceed with improvements to the Ash en Fitkin County Airport in accordance with the plans end ~ ecifications prepared and filed with the County, to be financed in part by Federal matching contributions, contri- butions of individuals, money paid and to be paid by the City of Aspen, an amount of ~4,000.C iappropriated by the County, and the balance to be paid from proceeds of anticipation war- rants to be issued pursuant to this resolution, which in turn are to be paid from the pro- ceeds of pledges made by various individuals payable to the County during the years 1957; 1958 and 1959. ` NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Fitkin Co~anty, Colorado : "' '~ 1. Fitkin County shall cause to be improved the Aspen Fitkin County Airport and related facilities in accordance with plans, specifications and related documents on file in the office of the County Clerk. 2. For such purposes, and for the purpose of paying in part the costs and expenses incidental thereto, the County of Pit kin shall issue its Airport Improvement Anticip ation Warrants in the total principal amount of ~22,500.OO,payable solely out of the net proceeds to be received by the County from pled ,es of funds made by various individuals payable in installments in the years of 1957, 195 and 1959, now held by Fitkin County in an amount sufficient to pay the said anticipation warrants together with all interest thereon, and the County shall pledge irrevocably the proceeds of such pledges to the payment of such antici- pation warrants, the interest thereon, the proceeds of such anticipation warrants to be used solely for the said airport improvements, and. the pledge agreements eommitted to the payment of the same to be marked "pledged for airport anticipation warrant retirement.' 3. Said antici ation warrants shall bear date of August 1, 1957; shall consist of number 1 through number l~ in the denomination of ~;~500.00; number 15 through number 21.in the 'denomination of ~1,000.00,number~22 through 46 in the denomination of X100.00, and number 47 tr- ~8 inclusive in the denomination of y~500.00; said anticipation warrants numbered 1 through 14 inclusive shallmature, become ;payable and shall b e retired in numerical order on August 1, 1958; anticipation warrants numbered 15 through 21 inclusive shall mature, become due and be retired on August 1, 1959, anticipation warrants numbered 22 to 58 sh all mature, become due and be retired on February 1, 1960. Said anticipation warrants shall beer 'interest at the rate of 5o per annum from the date thereof until paid, interest to be payable ~~August 1, 1958, August 1, 1959 and February 1, 1960. The County may redeem and retire said ~I anticipation warrants, or any and all of them in advance of the maturity date thereon ~. own, in numerical order b;;r paying the lawful holder or holders thereof the accrued interest to lithe date of such retirement, plus~the face amount shown thereon, less an amount equal to ' interest on such face amount at the rite of ago per annum computed from the retirement date ',shown thereon to the date of maturity as sh own upon such anticipation warrant or warn ants.. !iFifteen days notice of any retirement prior to maturity smell be given to the purchaser of 'said anticipation warrants and copy thereof shall be on file in the office of the, County ~iClerk and Recorder of Fitkin County; shall b e posted on the bulletin board in the Court ,House, and shall be mailed to the holder of such anticipation warrant or warrants according '~ to the County Clerks s records by regular mail at the last known address of such person or persons. Interest shall stop at the expiration of the said fifteen day notice period, being fifteen days after posting and mailing of such retirement notice, Said anticipation warrants shall be payable by County cash warrants drawn against the fund created for retirement there- pf through the office of the Fitkin County Treasurer in numerical order commending with the ~~ t :._.~~~ smallesTnumbers at t'ze Court uouse, hsp en, rod orac.o. 'i 4. Said Anticipation Warrants shall.. ~~e in substantially PIT KIN COT?PdTj.I AIRPORT IP~PROVEMIlVT 1T`d TICI PAT?:0'1 WARR~'~NT j~IvTo. __ ~, ~ '~' The Counts of i y ~;Commiss_i_oners of Pitkin ,~ on the day of ~ , an o pay interest thereon at the rate of ~~ per annum from da e un 1 re ire , interes payable annually, and on February 1, 1960, unless sooner retired. Both principal and interest on this wawa nt shall be payable by Count cash warrant drawn against the retirement fund therefor through the Pit kin County Treasurer when due or when called in advan ce of the due date to the lawful holder hereof upon his sign- ing appropriate voucher therefor. Pitkin County reserves the right to redeem this Anticipation ~fiarrant at any time prior to maturity upon giving fifteen days notice thereof, to be posted in the Pitkin County Court House, and mailed to the purchaser hereof, according to the records of the Clerk of this Board by re._trular mail at the last known address. The amount to be paid for such redemption shall be the accrued interest to a date two weeks following mailing and posting of redemption notice, plus the principal amount shown above, less an amount equal to three per cent per annum from the said interest terminatioin date to the retirement or due date above specified. Payment of this Anticipation Warrant, and the interest thereon shall be made solely from, and as r~ecurity for such payment, there is pledged a special fund created in the Offi ~e of the Pitkin County Treasurer denominated as "Airport Anticipation ~,-arrant Retirement Fund, into tihich the County covenants to pay all net proceeds from pledges of money for airport improve~er~ts and marked TMPledged for Airport Anticipation Warrant Retirement," which money is pledged irrevocably to the payment of interest upon and the retirement in numerical order of anticipation warrants, of which this is one. This Anticipation Warrant is issued for the purpose of making improvements upon the Aspen Pitkin County Airport, according to plans and specif ications filed with the County Clerk, pursuant to the provisions of Article 20, Chapter ~6, 1953 Colorado Revised Statutes, as amended, and does not constitute a general obligation or indebtedness of Pitkin Counnty within the meaning of any constitutional provision or limitation of Pitkim County, but shall be payable exclusively as above provided. IN WITNESS WHEREOF The Board of County Commissioners for Pitkin County, Colorado, .have caused this Anticipation Wawa nt to be subscribed by the Chairman, attested by the Secretary with the Seal Affixed this 1st day of August, 1957. the following form: State of Colorado, acting by and through the Board of County Colorado, hereby acknowledges itself indebted and for value bearer out of the special fund hereinafter mentioned and not ',otherwise : Pitkin, County, i'received prom~.ses to pay to the THE BOARD OF COUNTY ^.OMMISSIONERS OF PIT~ZN CO??I~TTY, COL QRADO. ATTEST: By Orest A. Gerbaz ha rman Peggy E . Coble Secre ary 5. Said Anticipation Warrants sh all be delivered to the purchaser, or purchasers thereof, upon payment of the amount for which the same are sold; the proceeds thereof to be credited to the "Airport Improvement Fund" in the records of the Pitkin County Treasurer, an< shall be disbursed only on order of the Board of County Commissioners as provided by law, but the holder of such Anticipation Warrants shall not be re quired to see to the application of the proceeds thereof. 6. There is hereby established and created in the Office of the P;_tkin County Treasurer a special fund to be known as 'rAirport ~nti~ipation Warrant Retirement Fund" into: which shall be paid all net proceeds derived from the aforesaid pledges of funds marked 'Pledged for Airport Anticipation Warrant Retirement, and from which shall be paid on order o: the Board of County Commissioners: a. The interest upon said anticipation warrants; b. the principal thereon. Whenever in the judgment of the Board of County Commissioners ~rhere shall be accumulated an amount in .such fund in excess of current principal and interest requirements, then the Commissioners may call for retirement in numerical order outstanding Anticipation Warrants as herein provided. When all of such anticipation warrants have been retir~ad and the interest thereon paid, then any amount of money remaining in said fund, or thereafter collected on said pledges, may b e transferred by order of the Commissioners to the said Airport Improvement Fund, or to an Airport Improvement and Maintenance Fund. Passed by unanimous vote this ~Oth day of July, 195?. THE BO ARD OF COUNTY COMMISSIONERS: OF PIT KIN COUN'T'Y, COLORADO By Orest A. Gerbaz: hairman ATTEST Peggy E. Coble Secre ary The following resolution was adopted; RFSOLUTION County, Colorado that there is ere y aplr p Contingent Fund to the Airport Improvement Fund in the County General Fund the sum of ~1.~, 000'. 00 to b e expended as a part of the ai rport improvement project cost s foiY the Asp en Pitkin County Airport. WHEREAS Pitkin County has prepared to commence construction on the Aspen Pitkin County Airport of necessary improvements thereto, using Federal participating moneys, dona- tions and contributions, anticipation warrant proceeds and due to inflationary ,conditions an increased costs, the contract price will exceed previous estimates, an emergency that could not have been reasonably foreseen at the ti^e of adoption of the last budget, NOW, THEREFORE, BE IT RESOLVED by the Board-of County Commissioners of Pitkin h b o riated and shall be transferred from the County in the The following resolution was adopted: RESOLUTION WHEREAS Hy Resolution of July 30, 195? this Board directed issuance of X22,500.00 Anticipation Warrants for improvements to the Aspen Pitkin County Airport, providing for maximum statutory interest rate of five per cent per annum, WHEREAS it is necessary that such Anticipation Warrants be promptly sold in order 470 to meet contract commitments, and requirements of the C.A.A. for participating ederal funds, and it has further been determined that due to inflationary conditions, an d igh interest rates upon borrowed money, it is not possible to sell such anticipation warrants t face value, NOW,TTiEREFORE, BE IT RESOLVED by the Board of County Commissioners of Pitkin County, olorado that the said Anticipation Warrants shall be offered for sale at the face value own thereon less an amount equal to 3o per annum from date of sale to maturity date shIIwn ,pon such warrant or warrants. There being no further business the Board adjourned to Meet August 5, 1957 at Attest; ~ Cler i ~-; ;~~ ~ rman '~ 10;