HomeMy WebLinkAboutresolution.council.006-81RESOLUTION NO ~
A RESOLUTION AUTHORIZING AND DIRECTING TNE EXECUTION OF JaN
AGREEMENT UITH THE ASPEN SKIING CORPORATION CONCERNING IMPROVEMENTS
TO BE MADE TO THE ASPEN MOUNTAIN SKI AREA
~HEP~AS, the City of Aspen, Colorado, intends to enter into
a Delegation Agreement wherein the City of Aspen will delegate to
the Town of Snowmass Village, also n municipal corporation, certain
rights concerning industrial development bond financing for the
benefit of the Aspen Skiing Corporation, and
WHEREAS, simultaneous with the execution of the aforesaid
Delegation Agreement, both tile City of Aspen and the Aspen Skiing
Corporation are desirous of entering into an agreement a copy of
which is annexed, wberein the Aspen Skiing Corporaticn shall agree
to undertake certain improvements to the Aspen Mountain Ski Area
and to ~!~oc~.te certain of the net proceeds of the financing
contemplated by the said Delega%ion Agreement, and
WHEREAS, the City of Aspen is desirous of entering into the
agreement with the Aspen Skiing Corporation to be assured that a
certain portion of the skiing proceeds shall be expended on the
improvement of tile Aspen Mountain Ski Area.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF ASPEN, COLOR,DO:
Section 1: In order to assure that a certain portion of the
5ndustrS~l development financing proceeds shall be expended on the
Aspen Mountain Ski Area, it is deemed necessary that the aforesaid
agreement between the City of Aspen and the Aspen Skiing Corporation,
a coFy of which is annexed, be approved, executed, and delivered by
and ob behslf of t~e City of Aspen.
Section 2: The form, terms and provisions of the said agreement
between the City of Aspen spd ~:he Aspen Skiing Corporation be and they
hereby are approved and the Mayor and the City Clerk be and they hereby
are authoriz£~ and directed to execute and deliver the said agreement
for and on behalf of the City of As~pen.
Section 3: If any section, paragraph, clause or provision of the
resolution shall for any reason be held to be invalid or unenforceable,
the invalidity of unenforceability of such section, paragraph, clause
or provision shall not affect any of the remaining provision of this
resolution.
Section 4: This resolution shall take effeci iN~ediately upon
its introduction and passage
INTRODUCED, READ, PASSED AND ADOPTED this /7 day of February, 1981.
CITY OF ASPEN
Herman Edel, Hayor
ATTEST:
City of Aspen, Colorado
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AGREEMENT
This Agreement, made this /~'Jday~ of February, 1981,
by and between ASPEN SKIING CORPORATION, a Delaware corporation,
a Colorado corporation, hereinafter called "ASC" and the CITY
OF ASPEN, COLORADO, a ~nicipal corporation and home rule city,
hereinafter called "the City":
W I TNE S S E TH
WHEREAS, the City has entered into a certain Delegation Agreement
dated February /?__, 1981, wherein he City has delegated to the
Town of Sno~nass Village, also a Municipal corporation, certain rights
as set forth therein, and
WHEREAS, both the City and ASC are desirous of entering into an
agreeme~ wherein ASC shall agree to undertake certain improvements
to the Aspen Mountain Ski Area and to allocate certain of the net
proceeds of the financing (the "Financing") contemplated by the said
thereto, and
the City is desirous of entering into
assured that a certain portion of the
be expended on the improvement of the
this agreement
Financing
Aspen Mountain
Delegation Agreement
WHEREAS,
in order to be
proceeds shall
Ski Area.
NOW, THEREFORE, in consideration of the sum of TEN AND NO/100
DOLLARS ($10.00) and other good and valuable consideration paid
by City to ASC the receipt and sufficiency of which is hereby
acknowledged by the ASC it is agreed as follows:
1. ASC agrees to install an adequate artificial
snowmaking system to service a portion of the Aspen Mountain
Ski Area. The system is to be divided into two parts Phase
I and Phase II. Phase I and Phase II of said snowmaking
system will be constructed in accordance with the conceptual
design previously delivered by ASC to the City. ASC shall
commence construction on Phase I of the said system on the
latter to occur of (i) June 30, 1951, or (ii) thirty (30) days
after the Financing is completed, and Phase II of said
system no later than June 30, t983, subject to the amount of
Financing as hereinafter provided, and shall pursue any and
all such construction in a workmanlike and businesslike
manner and complete the same within a reasonabl~ time.
The obligation of ASC to construct the snowmaking
system-contemplated by it shall be conditioned upon the
availability of adequate water for the purposes intended
through the performance by the City of its contractual
obligation to provide adequate water for said snowmaking
system.
2. ASC's obligation
of said snowmaking system
of the Pinancing, and its
to perform and construct Phase I
is conditioned upon the completion
obligation to construct Phase II
of said snowmaking system is conditioned upon obtaining at
least $30,000,000.00 of gross proceeds from the Pinancing.
3. This Agreement shall inure to the benefit of the
parties hereto, their respective successors and assigns.
IN WITNESS WHEREOF the parties hereto have executed this
Agreement on the day and year above first written.
ASPEN SKIING CORPORATION
By~/___~
THO~S W. RICHARDSON, President
ATTEST:
Secretary
CITY OF ASPEN
By , 7~
HERMAN EDEL, Mayor
ATTE S T:
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STATE OF COLORADO
COUNTY OF PITKIN
CITY OF ASPEN
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The City Council of the City of Aspen, Pitkin County,
Colorado, met in ~ session in full conformity with law, the
City Charter and the ordinances and rules of the Council, in the City
Upon r following were found to be present, constituting a
Present:
Mayor:
Mayor Pro Tern:
Counc ilmember s:
Absent:
quorum:
Herman Edel
H. Michael Behrendt
Charles Collins
Thomas Isaac
Susan Michael
George Parry
John Van Ness
constituting all the members thereof.
There were also present:
City Manager:
City Clerk-Treasurer:
City Attorney:
Thereupon, Councilmember ~ introduced
following resolution, the text of which is as follows:
Wayne Chapman
Kathryn Koch
the
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