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Home My WebLink Aboutbocc.res.207.1992 � � � .. . .J+�-. • . . . ;�i Y � . ,.. � � �.�... � ,T,t2 6" 1 gh ,.y .ry � T��.? � - � y` r� � s j�� .. �:-.. �- r�;n r-> �.5. p��J y��4*ftb ; �ti.�r 4' �{.i� ��lk��• S�IT } R+r�t,rr � ..4y '�'tv".�( lj{.4?T� [ . � � t ��.�a-+-� S�,I,k � .i,yp.�. � {' a �:�C LA-1 - -, s� ;N„ r t ��'� ,�_1.,��4 � ��,'..7.r,to : �. Yrc . �.�-�.��'Affi. /si�a'�:.� .., * ^ �. . . .F.: 4. ir . � � .1 ,'��. � �� , ..... _.. i r _ � j.•..+,'�;. � � PITKIN COUNTY %�'r'�..-:i, - BOARD OF COUNTY COMMISSIONERS ` '� -'.:...= . RESOLUTION �92-�� • ,'r,- � .�. ` PROVIDING FOR A SPECTAL ELECTION ON THE QUESTION OF s �-"r,':�;i, ', BORROWING A MAXIMUM OF S1,700,000 FOR THE PURPOSE OF i ACQUIRING BUSES AND IMPROVING TRANSTT FACILITIES FOR ( THE ROARING FORK TRANSIT AGENCY " �_�.. . �;=�' _ WHEREAS, the County of Pitkin in the State of Colorado (the z*�"'' • ' � "COUnty" and the "State," respectively), is a duly created , s; , political subdivision of the State, organized and operating as a j home rule county pursuant to the general statutes of the State and "`' � f a county home rule charter (the "Charter") adopted pursuant to the ��. .. -'�, � Colorado County Home Rule Powers Act; and �„ _�.,, • r: : , � WHEREAS, the County formed the Roaring Fork Transit Agency by ; intergovernmental agreement with the City of Aspen and funded it �e� , � with a 1& county sales tax imposed by Resolution Number 83-29 (the � "transit sales tax"); and is � .p WHEREAS, the County has authority pursuant to C.R.S. 29-2- ;�� 112 to issue sales tax revenue bonds for capital improvement � � purposes; and � WHEREAS, the Board of County Commissioners of the County (the '"R� "Board") has determined that it is necessary and desirable to _, i finance the following projects for the Roaring Fork Transit Agency �� with sales tax revenue bonds: (i) acquiring and equipping buses, � `i� (ii) acquiring a vehicle for the transportation of senior citizens, (iii) connecting the bus maintenance facility to the municipal sewer system, (iv) installing fuel tank monitors, and (vj improving the Rubey Park Transit Center; and : WHEREAS, Section 10.1.1 of the Charter provides as follows: '. ' "Limitations on Borrowing: No income, sales, excise, property, transfer or any other tax, whether now in force or a new tax, shall � be committed in favor of any debt of the County unless and until - . the commitment of the tax to the indebtedness and the indebtedness :,� shall be submitted to and approved by a majority of the electors voting at an election called for such purpose."; and i, WHEREAS, the County's primary election is scheduled for August , 11, 1992, and it is apprapriate to submit the question set forth herein at that election. NOW, THEREFORE, BE IT RESOLVED HY THS BOARD OF COUNTY '�� COMMISSIONERS OF PITKTN COUNTY, COLORADO: �',, .i! '< Section 1. The BoaYd has determined, and hereby determines �:' ;�.' that the interest of the County and the public interest and �+� necessity require (i) the acquisition of vehicles and improvement � + of transit facilities for RFTA, (ii) the borrowing of funds for s�,�'� �:,� such purposes by the issuance of sales tax revenue bonds, and (iiij ,��sf the pledging of revenues accruing to the County from its 1$ transit ;:�` , � ��.:�a';; ,..� _ 1x�� . 3}'{ �i ' 1�. ! rr+i�u.o,;rw.+w.we-as.:�4�.b{X'aa::a:a;.....a.ua„aexM.-'k.�.� .:s.-o.w,x- ��ri- -� c.+-�wx*..�3'rsi.�q�,-4x"�� .. � ! F �:iC • �\� � � �4� r� ` � •. � . . ...��, . � � . - • .. . . . . ... _.. �`4 _ . ��., . . , f �� ..'� . . . . . J . . - . ' �. . �� ..' - . . � • . � , � , m ,.Y`. �. , , f� . � . t � �. . _ . . .. . . , . � . . ' .� . , • �YI . , . _ ' ' ' . . ' - ' � ' .. , , . . � . ..�. . . . � .. . . . .. � � ��p . . . t;�.� . ... ' � �� .y .�. �,,�1. {�;. ;.c ��`',�C,`� � .� r t �.iy} t{n�:;}k��+ r'�yr'��.�.:' :'.G•• � �,4 4! � A 7 � ' x�� '.4 �y,S:>fK Y 1�� i7., 1 f. .1 7 1;�, c':J � � . � ','- �. � •�4j� �,.rr� �5't�.t`�ir t�r i4t}� �f`''�t ff,�ay�� .y,� + t�:? ; ;:;: � } . .... . . x(,.. k d.�y;y .r ,Jw. �f t � . ..�1'�i �'�,±�R� i '� .�y � � , Y. � . . t�7�',,�r7:., _ y�4��y�h4�� .�:�� .. . .�frt::9'. .o.. . ,Y.. ` r. .:r � (� �. :� sales tax as security for such borrowing. � � ; .� Section 2. Such borrowing may be incurred at one time or from time to time in the maximum aggregate principal aroount of - $1,700,000. ,�.'. Section 3. Each such borrowing shall bear interest at a _� � net effective interest rate not exceeding 9� per annum, shall be 4``` _ payable within 15 years from its date, shall be secured by a pledge . of revenues accruing to the County from its 1� transit sales tax, :�r:� -- - .� and shall be on such other terms as the County may determine. Each � such borrowing may be evidenced by bonds, notes, or such other s; evidence of indebtedness as shall be determined by the' COUnty. '� Section 4. The County's primary election to be held on � � Tuesday, August li, 1992, shall also be a special election pursuant ! to Section 6.5 of the Charter, at which there shall be submitted � -�� to the qualified electors of the County the question of borrowing : funds, which question shall be in substantia2ly the fallowing form: '• ,,,: i . �Fs:s i t� � '?• SALES TAX REVENUE BONpS FOR RFTA ; . Sha11 Pitkin County be authorized to issue not more than y'. $1,700,000 of sales tax revenue bonds, to be secured by a pledc}e of revenues accruing to the County from its existing v��- 1$ transit sales tax and not from general taxes, and to be used to finance the following projects for the Roaring Fork Transit Agency: (i:) acquiring and equippinq buses, (ii) acquiring and equipping a vehicle for the transportation of ' �r ', senior citizens, (iii} connecting the bus maintenance facility to the municipal sewer system, (iv) installing fuel tank monitors, and (v) improving the Rubey Park Transit Center; F such bonds: •. � �, . �� me,; 1. to bear interest at a net effective interest rate not , :�i exceeding 9� per annum; ' .��;':' 2. to be payable within 15 years from their date; and �,;- i. J'4'S: . - ` 3. to be on such other additional terms as the County may �. ;' �'�' determine? � �' } !� >&� ". � Section 5. A notice of the election including the Cime, � - place and purpose of the election shall be published one time in �, ' ^ i�, The Aspen Times and the Roarina Fork Vallev Journal and posted in �� . �, � a conspicuous place at the County Clerk's offiae at least lo days � before the date of the election. 4 .�{ . 5�.�;' .. � �'�' �_ �Y . !a � r. � �� . �. x:. „� � �� t;� .;s �. � � � � �� '::�� ' -r ` . �-, ,�t r 6.� � ,,� ry � h y � Y' �� ,, , ��i ` �,� � ..�' '� � � �� .� .J� . � , � � ; , - . . ... . . � , . �:�, . ..., r ".. . . . . - ' r i s;.. : �x 7 �. . ,-r, rc+� �,.: � y� � R . . v t r � +r :��`� V�i� � � - s trf�? ��-,�• �� . t• SK Y�`�. 5 �.� ��'tP� 1 y �.lrC�I«C� . .;�f4.a�T Ssr �(Ss�t r�,. S .. w .'.,.��;x �-.'j4�,, Y�1'3 �r :: . gil'� Si�$t� i�±N r ..��OL}�,�'�fq7:;1"ii.xe'��-X �t� �K-��}: . - •� , qe,�`,' F, e � `,�?.��f1 � +,v � 'F` ! y�. � Y�. . . .a: i . 1 J` .��:i��.�'+ •��.�1i.�7-.��K�,[ �,. . .:�i • . ...�u�.l � .S. l.;. 7 � ; r �—'� � - Section 6. The officers and members of the Board and the County be, and they hereby are, authorized and directed to take all action necessary or appropriate to effectuate the provisions of this Resolution. Section 7. All orders, bylaws and resolutions, or parts thereof, in conflict with this Resolution, are hereby repealed. � _ i Section 8. If any section, paragraph, clause or provision j •:`�,� of this Resolution shall for any reason be held to be invalid or i unenforceab2e, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the a remaining provisions of this Resolution. { Section 9. This Resolution shall be in full force and � ,�ry' effect immediately upon its final adoption. �; �� INTRODUCED A2iD FIR5T READ ON THE 9TH DAY OF 3UNE, 1992. i 4!.. : ��k�� NOTICE OF PIIBLIC HEARING PUBLISHED IN THE ASPEN TIMES ON Ji,^.�E " 12, 1992. � APPROVED AND ADOPTED UPON SECOI3D READING AND AFTER PUBLIC j - HEARING ON THE 23RD DAY OF JUNE, 1992. j i +��"-�- •' PUBLISHED AFTER ADOPTION IN THE ASPEN TIMES ON THE 3RD DAY OF ' ` ' JULY, 1992. ; :� 4��opa� 4 '�+� a� j �- � � . � , A T: �to �,�p BOARD OF COUNTY COMMISSIONERS ; � OF PITKIN COUNTY, COLORADO , � (.. I_ . 1 ,� ; � By: - ^ . ��__ �. 3 anette Jones mes R. True, Chairman ''Y eput Clerk & ecorder ��:�;� y ��. .f,, �Y�. ��,��' . �,r�; APPROVED AS TO FORM: MANAGER APPROVAL: � } . ,f �`�ii —�—._� ...�.o�-. GI►�)��. �`.. s ��l Timothy E. Whit ' Reid Haughey �; �' County Attorne County Manager ;��.,� . .t ;:�� ..: �. �.: � pctco/wpfhallot.8.92.reso �`� ti. 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