HomeMy WebLinkAboutresolution.council.021-01 RESOLUTION NO. o~ [
(Series of 2001)
A RESOLUTION OF THE CITY OF ASPEN, COLORADO DECLARING ITS OFFICIAL
INTENT TO REIMBURSE ITSELF WITH THE PROCEEDS OF A FUTURE TAXABLE OR
TAX-EXEMPT BORROWING FOR CERTAIN CAPITAL EXPENDITURES AND THE '
FUNDS TO BE USED FOR SUCH PAYMENT; AND PROVIDING CERTAIN OTHER
MATTERS IN CONNECTION THEREWITH.
WHEREAS, The City of Aspen (the "City"), in the County of Pitkin and the State
of Colorado (the "State"), is a municipal corporation duly organized and existing
pursuant to constitution and laws of the State; and
WHEREAS, the City Council of the City (the "Council") is the governing body of
the City; and
WHEREAS, the City has determined that it is in the best interest of the City to
make certain capital expenditures on the Project defined in this Resolution; and
WHEREAS, the City currently intends and reasonably expects to participate in a
taxable or tax-exempt borrowing to finance such capital expenditures, including an
amount not to exceed [ $52,000,000] for reimbursing the City for the portion of such
capital expenditures incurred or to be borrowing, within 18 months of the date of such
capital expenditures or the placing in service of the Project as hereinafter defined,
whichever is later (but in no event more than 3 years after the date of the original
expenditure of such moneys); and
WHEREAS, the Council hereby desires to declare its official intent, pursuant to
26 C.F.R. § 1.150-2, to reimburse the City for such capital expenditures with the
proceeds of the City's future taxable or tax-exempt borrowing.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ASPEN, COLORADO, THAT:
Section 1. Declaration of Official Intent. The City shall, presently intends and
reasonably expects to finance certain [Truscott/Iselin] (the Project) with moneys
currently contained in its [Various Funds].
Section 2. Dates of Capital Expenditures. All of the capital expenditure
covered by this Resolution were made not ~arlier than 60 days prior to the date of this
Resolution.
Section 3. Issnance of Bonds or Notes. The City presently intends and
reasonably expects to participate in a taxable or tax-exempt borrowing within 18 months
of the date of the expenditure of moneys on the Project or the date upon which the Project
is placed in service or abandoned, whichever is later (but in no event more than 3 years
after the date of the original expenditure of such moneys), and to allocate an amount of
not to exceed [$52,000,000] of the proceeds thereof to reimburse the City for its
expenditures in connection with the Project.
Section 4. Resolution Number. This is the first resolution of the City
concerning all or a portion of the Project described in paragraph 1 hereof adopted on or
after July 1, 1993.
Section 5. Confirmation of Prior Acts. All prior and doings of the officials,
agents and employees of the City which are in conformity with the purpose and intent of
this Resolution, and in furtherance of the Project, Shall be and the same hereby are in all
respects ratified, approved and confirmed.
Section 6. Repeal of Inconsistent Resolutions. All other resolutions of the
Council or parts of resolutions, inconsistent with this Resolution are hereby repealed to
the extent of such inconsistency.
Section 7. Effective Date of Resolution. This Resolution shall take effect immediately
upon its passage.
INTRODUCED, READ AND ADOPTED by the City Council of the City of Aspen on
the 26th day of February, 2001.
[SEAL]
CITY OF ASPEN, C~LO~~
Attest:
By
~ity Clerk