HomeMy WebLinkAboutresolution.council.055-91
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RESOLUTION NO. 56
(series 1991)
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO
APPROVING THB ROARING FORK TRANSIT AGENCY SUPPLEMENTAL PUBLIC
FUNDING AGREEMENT AND AUTHORIZING THE EXECUTION OF SAME.
WHEREAS, the City of Aspen, the Town of Snowmass Village, and
the Board of County Commissioners for Pitkin County have agreed to
furnish supplemental public funding to provide additional and
necessary financial resources to the Roaring Fork Transit Agency
to help defray the cost of skier shuttle transportation services;
and
WHEREAS, such additional supplemental funding shall be made
available to the Roaring Fork Transit Agency subj ect to and
consistent with available revenues and appropriations in future
years; and
WHEREAS, the City Council finds and declares that the
execution of the Supplemental Public Funding Agreement to be
consistent with the intent and spirit of preexisting agreements to
which the City of Aspen is already a party concerning the funding
and operation of the Roaring Fork Transit Agency.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ASPEN, COLORADO, that the Supplemental Public Funding Agreement
between the City of Aspen, the Town of Snow~mass Village, the Board
of County Commissioners for pitkin County, and the Roaring Fork
Transit Agency, a true and accurate copy of which is appended to
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this Resolution and ~ncorporated herein as if fully set forth, be
and is hereby approved and the Mayor and city Manager are
authorized to execute same and such further documents as may be
necessary to implement the terms thereof.
RESOLVED, APPROVED AND ADOPTED this I~~ay of December,
1991, by the City Council for the City of Aspen, Colorado.
~~~~
John S. Bennett, Mayor
I, Kathryn S. Koch, duly appointed and acting city Clerk do
certify that the foregoing is a true and accurate copy of that
Resolution adopted by the city council of the City of Aspen,
Colorado, at a meeting held ~ ~~ , 1991.
~~~~~
Kathryn~: -Koch, Clerk
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SUPPLEMENTAL PUBLIC FUNDING AGREEMENT
This Agreement is made and entered into as of the 27th day of
November, 1991, by and between the BOARD OF COUNTY COMXISSIONERS OF
PITKIN COUNTY, COLORADO ("County"), the TOWN COUNCIL OF THE TOHN Of
SNOWMASS VILLAGE, COLORADO ("Town"), the CITY COUNCIL OF THE CITY
OF ASPEN, COLORADO ("City"), and the ROARING FORK TRANSIT AGENCY
("RFTA") .
RECITALS
1. RFTA and the Aspen Sk~~ng company have entered into a
contract entitled "Roar ~ng Fork Transit Agency - Aspen Skiing
company Long Term Transit Service Contract", dated as of November
1, 1991, referred to herein as the "Long Term Transit Service
Contract" and incorporated herein by this reference.
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2. Pursuant to the Long Term Transit Service contract, RFTA
will provide long term transit services for the benefit of the
Aspen Skiing company and the Aspen Skiing Company wdl pay a
transit fee for such services as def~ned in the Long Term Transit
Service Contract. Since it is anticipated that funds ~n addition
to those to be pa~d by the Aspen Skiing Company may be requ~red to
pay the entire cost of the service, the county, the Town, and the
c~ty shall each be responsible for paying one-third of the
shortfall, which is referred to ~n the Long Term Transit Serv~ce
Contract and herein as "Supplemental Public Funding".
3. The parties hereto recognize that the potential adverse
consequences of an ~neffective system of transport~ng sk~ers among
the ski areas operated by the Aspen Ski~ng Company constitutes a
substantial risk to the public interest and, accordingly, the
public interest will best be served if the responsibility for the
effective and eff~cient transportation of skiers remains vested
with RFTA, and further, that the commitments of the county, the
To\>,'n, and the City to provide Supplemental Public Funding are
necessary to assure that RFTA can continue to provide such
serv~ces.
C. The county, the Town, and the c~ty are authorized by
reason of Article XIV, Sect~on 18, of the Colorado Constitution,
Section 29-1-203, Colorado Revised Statutes, and their respective
home rule charters to enter into contracts to prov~de for the joint
exercise of any function, service, or facility lawfully authorized
to each.
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5. The County, the Town, and the city desire to set forth
herein binding commitments between themselves and to RFTA to
provide Supplemental Public Funding and to set forth herein the
methodology for accomplishing and assuring such fund~ng.
NOW, THEREFORE, in consideration of the mutual promises and
obligations herein, the parties agree as follows:
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being understood that neither ASC nor RFTA is
obligated to assume and pay any such share),
RFTA may at its option terminate this Contract
upon 30 days written notice to ASC and the
participating Local Governments.
C.
It is understood that such Participating Local
Governments will require, as a condition to
providing supplemental public funding, that
capi tal cost reductions (~ncluding state and
federal capital grarts) realized by RFTA for
vehicles to be used under this Contract shall
inure exclusively to the benefit of RFTA and
said part~cipating Local Governments as they
shall agree, and shall not result in a
reduction of the Base Transit Fee payable by
ASC."
4. Effect of Federal Grants on Supplemental Publ~c Fundino.
4.1 Exhibit "A" attached hereto sets forth the amount of
Supplemental Public Funding to be provided annually by each of the
Partic~pat~ng Local Governments during the term of the Long Term
Transit Service Contract. In effect, the Supplemental Public
Funding contemplated by this Agreement is required to help defray
projected capital expenses for the purchase of five (5) new buses
in 1992 and five (5) new buses in 1995.
4.2 The parties anticipate that any federal grants obtained
to assist in purchasing such new buses should result in a reduction
of Supplemental Public Funding. I=, during the term of the Long
Term Transit service Contract, such federal grants are obtained,
the following methodology shall be used to reduce or refund the
Supplemental Public Funding contributions made by the Participating
Local Governments:
'.2. a.
Exhib~t "B" attached hereto sets forth the
methodology for determining the prorated "Annual
Vehicle Use Charge -10 New Buses" attributable to
the Long Term Transit service Contract. The local
share of such federal grants shall be determined by
SUbtracting the federal share from the total cost
of the buses. For the example demonstrated ~n
Exhibit "B", the federal share is assumed to be 65%
of the total cost of 10 new buses and the local
share is assumed to be 3 5%. The local share is
amortized over ten (10) years at an assumed
~nterest rate of 8%. The annual debt service ~s
prorated at the rate of 47.98% (the percentage of
mileage attributable to the skier shuttle).
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4.2. b.
Following the methodology set forth on Exhibit "B",
Exhibit "A" shall be revised to incorporate the
reduced "Annual Vehicle Use Charge - 10 New Buses",
resulting from federal grants.
Following the methodology set forth in paragraphs
"4.a." and "4.b." above, the potential effect that
federal grants could have upon Supplemental Public
Funding is demonstrated by the example on Exhibit
"C". The scenario reflected on Exhibit "C"
incorporates the reduced "Annual Vehicle Use Charge
- 10 New Buses" ($59,288 - see Note "A") derived
from Exhibit liB" and assumes that 10 new buses are
purchased in the 1992/1993 Transit Year. By
~ncorporating the reduced amount of $59,288,
Supplemental Public Fund~ng would be s~gnificantly
reduced ~n years 1993 - 1995, and would no longer
be required by 1996 (See Note liB"). The
Participating Local Governments would contribute a
combined total of $125,117 from 1992 through 1995.
In 1996, the Ski Co Annual Payment would begin to
defray all operating and capital expenditures and
begin to generate surplus revenues for the balance
of the Long Term Transit service Contract.
4.2.c.
4.2. d.
Any surplus revenues in a Transit Year resulting
from federal grants for such new buses shall be
used to refund on a pro rata bas~s such sums of
Supplemental Public Funding already contributed to
RFTA. The Participating Local Governments shall be
repaid from such surplus revenues for such Transit
Year until such time that the participating local
governments have been fully repaid for all
Supplemental Public Funding contributions
previously made. The balance of any such surplus
revenues after the Part~cipating Local Governments
have been repaid in full for their Supplemental
PUblic Fund~ng contr~butions previously made, shall
be used by RFTA to defray expenditures as RFTA
shall determine necessary.
5. Bindino Effect. The effectiveness and enforceability of
the terms hereof with respect to the county, the Town, and the City
are cont~ngent upon ratif~cation and authorization by the Board of
county Commissioners, the Snowmass Village Town Council, and the
Aspen city Counci 1. By executing this Agreement, the parties
acknowledge and represent to one another that all procedures
necessary to contract and execute this Agreement have been
performed and that the person signing for each party has been duly
authorized to do so.
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Subject to ratification as prov~ded above,
of the parties hereto have executed this
counterparts, each of which shall constitute an
the day and year above first wr~tten.
the representatives
Agreement in four
original Agreement,
BOARD OF COUNTY COMMISSIONERS OF
PITKIN COUNTY, COLORADO
ATTEST:
BY:
County Clerk
TOWN COUNCIL OF THE TOWN OF
SNOWMASS VILLAGE, COLORADO
ATTEST:
BY:
Town Clerk
CITY COUNCIL OF THE CITY OF ASPEN,
COLORADO
ATTEST:
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f - $". 13.-:;tr
BY:
ROARING FORK TRANSIT AGENCY
BY:
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l"s ,ki(~ '"lent (1!I:er 1r) (il!.!lO) (717.037) (HUll) (!'l,!11)1I-:J1! (m,m) (1,911,161) (Loas,OIl) (1,!S3,3lO! (l,l11.:H):' 31)
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mANCE REQU1RiH6 ,Ummml mllC fUNOING H,m n,m lO,lOI n.m (1,H9) (l!,m! (3;,133) (SI,m) (7!,717) (99,m! : (1;1,593)
.....4.._..4..._.4._._._.4...4_..44___.....___~___._________.__.__._________.___________.___________________.________.__.Q_..______~_____________________________________~___________l________.___._
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,~E~~~L ~U??t:~:~!~L :~:L!C r~~n[H; ::~~ '!A'fS 13..::1 1;,71 ; r ~~ ;.~:7 E.151 13.;:,' ~ ~3.z~al : [S~,Z3lJ
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years
JulEDli~d
subseQuent
~!
for
N..
!Ooerating Expenses calculated 11 1 as/hour year 1 Increased
value based ucan :l-or aurc~a5e ~ric2 (10-S;S ~tSSloaol
vehici, u,' charg, base; on 41.9!1 Skico vehicle utilization
by Sl
He..
~elrs
over
e'Jual incre!enr.s
10
in
creditsa
,
,
>
"
hr:.s be'!n
13!
tot::!
The
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by
1J!
ull"
US.ilYa~e
!ltProrated
!U?rorated
ne':25s:.r:'
!ethodolcqy)
Guvernlents
hall de!.::r1ir.g
Local
in!
ilarticicatinq
as
'!Io!!:!oit:::!s
allocation
re~ayinq
defr:!y
-lforccst
used to beqin
se1 by RFTA to
(see exhibit
be
S~iCo re1enues viii
lll.m nail b,
mO,aOOmh
1m
Ccsts At this point
have been fully reolid
buses Qurc~ased in
a..
vehicle
oar lonth each
~rojected Caerating
~articiDlting loc~l
utilizatian
S,iCo
II
to exceed
aftu the
000
1ehicle use char,;e based on ~1.1St
lease costs nln. for faur vehicles
1991il996 SHea
af any
~ay"nt begins
SkiCo revenues
reJaining
""Vehicle
Z!tltlQeqinninq in
The bal.lnc~
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iALAKe: ",QU PLE~EmL PUEue rJKOIHG 11.911 10S,?ll 15,m aU5. 5.503 11,011 60,m n,m 10,:10 (1,.36) : ~.lOl
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RMISI! MHIW!ROIIOII HIIEROI GROll I COUlD REDUCE SUPPllIIEIIIOI rUBlIC IUIWIIIG R[OUIRmll1S
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tuum
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10 IIEI BUSES"'
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