HomeMy WebLinkAboutordinance.council.022-82 RECORD OF PROCEEDINGS 100 Leaves
ORDINANCE NO. 9~82).~ (Series of 1
AN ORDINANCE APPROVING SHORT-TERM LOANS NOT TO EXCEED
1.2 MILLION DOLLARS FOR THE RENOVATION OF THE WHEELER OPERA
HOUSE AND NOT TO EXCEED $550,000 FOR THE PURCHASE OF LAND
ADJOINING THE WHEELER OPERA HOUSE AND NOT TO EXCEED $100,000
FOR THE CITY'S SHARE OF THE BEALMEAR PROPERTY
WHEREAS, the City Council is required, by reason of Section
10.2 of the home rule charter, to ratify all short-term loan
agreements by ordinance, and it wishes to do so with respect to an
agreement to be entered into between the City of Aspen and
approved financial institutions,
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF ASPEN, COLORADO:
Section 1
That it does hereby ratify and approve short-term loans
between the City of Aspen and approved financial institutions for
the renovation of the Wheeler Opera House and purchase of land or
easement of such land for the space adjoining the Wheeler Opera
House and land associated with the Bealmear Property, under the
following terms and conditions:
Amount of Loan: Not to exceed 1.2 million dollars for
Wheeler Renovation; not to exceed $550,000
for purchase of land adjoining the Wheeler,
and not to exceed $100,000 for purchase of
the Bealmear Property.
Term of Loan: Payment prior to December 15, 1982.
Monthly Payment: Accrued interest only.
Lender: Financial institutions approved by City Council.
Interest Rate: Not to exceed prevailing interest rate for
municipalities.
and such other common contract provisions as are specified in the
agreement itself.
RECORD OF PROCEEDINGS 100 Leaves
Section 2
If any section, subsection, sentence, clause, phrase or
portion of this ordinance is for any reason held invalid or
unconstitutional by any court of competent jurisdiction, such
portion shall be deemed a separate, distinct and independent
provision and such holding shall not affect the validity of the
remaining portions thereof.
Section 3
A publ~ic hearing on the ordinance shall be held on the
day of 7//~-~ , 1982, at 5:00 P.M. in
the C't C u~c~il -ha bers As 'en Cit H 11
i y o n ~ m , p y a , Aspen, Colorado.
INTRODUCED, READ AND ORDERED published as provided by law by
the City Council of the City of Aspen on the /~ day of
, 1982.
H--~rman Ed~l, Mayor
ATTE S T':
~-I~LLY
adopted, passed and approved the ~j~ day of
4~zmea~+-E d c i, ~ .....
~,_~ Susan E Michael, Mayor Fro Tem
ATTE S T:
I~at~ryn.. .... S.. QKoch, Cltyf/l~Cl~
2
RECORD OF PROCEEDINGS 100 Leaves
S..ATE OF COLOIG!DO ) CERTIFICAT~
COUNTY OF PITKIN )
I, Kathryn S. Koch, City Clerk of Aspen, Colorado,
do hereby certify that the above and foregoing ordinance was
introduced, read in full, and passed on ~
reading at ~ regular meeting of the City Council of the
in the Aspen Time~ a weekly newspaper of general circul-
ahion, published in the City of A~z~en, Colorado, in its
and approved at a reg~lar meeting of the City Council on
provided by law.
IN WITNESS WHEREOi", I have hereenho set my hand and
the seal ef said City of Aspen, Colorado, this /~