HomeMy WebLinkAboutbocc.res.152.1997 � u � �
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A RESOLUTION OF THE BOARD OF DIRECTORS OF
PITKIN COUNTY WEST BUTTERMILK GENERAL IMPROVEMENT DISTRICT �.
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DECLARATION OF INTENT TO REIMBURSE COSTS INCURRED ON . ' �.;:
BEHALF OF THE PITKIN COUNTY WEST BUTTERMILK '.
IMPROVEMENT DISTRfCT FROM FUTURE ISSUANCE OF BOND
PROCEEDS
RESOLUTION#97-1��
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REGTALS
1. The Pitkin County West Buttermilk General Improvement District (the .
"District",in the County of Pitkin(the"County")and State of Colorado(the"State"),is a
quasi-municipal subdivision of the State and a body corporate with the limited
- proprietary powers set forth in Part 5,Article 20,Title 30,Colorado Revised Statures,as �;
'=:'. + amended,being duly organized as a public improvement district pursuant to Resolution
'; No 88-36 of the County;and �
}. 2. The Board of County Commissioners of the County is ex-officio the Board of E
� Directors of the District ("the Board"); the Chairman of the County is ex-officio the `
= Chairman and President of the District; and the County Clerk and Recorder of the F�
F, County is ex-officio the Secretary of the District;and �
� " t 3. The "Board° of the "Pitkin County West Buttermilk General Improvement �
� District", (the "DistricY), has submitted the question of incurring indebiedness in the
. principal amount of$1,200,000 for the purpose of defraying,in whole or in part,the cost
' , of constructing, installing and othecwise acquiring a water system, facilities and
- E' distribution fines, and, in commencing therewiih, authorizing the district to undertake
. � �i such improvements and enter into a servicing agreement with the City of Aspen relating �
�; to the provision of water services to the District(the'Project")pursuant to Reso lu tion 9 6-
_ 293 to the qualified electors of the District at an election held on Tuesday November 5,
1996;and
� 4. The Board canvassed the returns and the Chairman of the District declared
'� that said election resulted for the incurrence of such indebtedness;and
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�" 5. The Board intends to issue debt next year to comptete this project once costs
�; of the project have been estimated and approvals are complete;and •
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F' 6. It is necessary to incur costs prior to the issuance of bonds to complete the
. �; � project;
�; THEREFORE, BE IT RESOLVED BY THE BOi4RD OF DIRECTORS OF THE
PITKW COUNTY WEST BUTTERMILK GENERAL IMPROVEMENT DISTRICT: •
� Section 1. It is the inYent of the Board to reimburse any costs incu�red by
the Pitkin County West Buttermiik Improvement Fund for the Project with proceeds of up �
to$1.2 million of Bonds expected to be issued for the Project.
Section 2. This Resolution shall be in full force and effect immediately �
upon its final adoption. • !
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• INTRODUCED AND APPROVED ON THE 13TH DAY OF AUGUST, 1997.
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A T: BOARD OF PITKW COUNTY �:;'
WEST BUTTERMI GENERAL � '.
IMPROVEMEN TRICT: .
f
J anette Jones Sill Tuite,C airman �.
� puty Clerk ecorder `'
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APPROVED AS TO FORM:
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e.t._r!' '.J r
'E ( John Ely
� County ey
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RECOMMENDED FOR APPROVAL: MANAGER APPROVAL:
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� � ='� e,r►�i �
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� ! j Debe Nelson Suz n Koncha ��
- � ! Pitkin County Finance Director Cou Manager ¢�
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