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Home My WebLink AboutEPURA RESOLUTION 253CRESOLUTIONNO.253ARESOLUTIONAPPOINTINGANACTINGSECRETARYTOTHEAUTHORITYWHEREAS,theSecretarytotheBoardofCommissionerswillbeunavailableduringthemonthofMay1997;andWHEREAS,theSecretaryattestsallResolutions,Contracts,Agreementsandotherdocuments;andWHEREAS,theBoarddesirestoappointanactingSecretaryforthemonthofMay.NOW,THEREFORE,BEITRESOLVEDBYTHEESTESPARKURBANRENEWALAUTHORITYTHAT:TheAuthorityherebyappointsCarlHendersonasActingSecretarytotheauthorityandauthorizesCarlHendersontoperformallactivitiesoftheSecretaryfromMay6untilMay30,1997.ADOPTEDthis30thdayofApril1997.ESTESPARKURBANRENEWALAUTHORITY(Chairmay CaSTATEOfCOLORADO))TOWNOfESTESPARK))ESTESPARKURBAN)RENEWALAUTHORITY)TheBoardofCommissioners(the“Board”)oftheEstesParkUrbanRenewalAuthority(the“Authority”),TownofEstesPark,CountyofLarimer,Colorado,metinregularsessioninfullconformitywithlawandthebylawsoftheAuthorityatHolidayInnEstesPark,Colorado,onWednesday,the30thdayofApril,1997.ThefollowingmembersoftheBoardwerepresent,constitutingaquorum:Chair:GunnCommissioners:Henderson,Kiaphake,Putney,Steige,Swank,WassonThefollowingmembersoftheBoardwereabsent:NoneAlsopresent:ExecutiveDirector:ArthurL.AndersonThereupon,therewasintroducedandreadbytitlethefollowingResolution,copiesofwhichhadbeenmadeavailableinadvanceofthemeetingtotheBoardandweremadeavailabletothosemembersofthepublicinattendanceatthemeeting: aa.RESOLUTIONNO.252ARESOLUTIONAUTHORIZINGTHEESTESPARKURBANRENEWALAUTHORITYTOENTERINTOALEASE/OPTIONTOPURCHASEAGREEMENTWITHTHEBEEFITCORPORATIONFORTHEPURPOSEOFLEASINGCERTAINREALPROPERTYSITUATEINTHETOWNOFESTESPARK,COLORADO;APPROVINGTHEFORMOFTHELEASE/OPTIONTOPURCHASEAGREEMENT;ANDPROVIDINGOTHERDETAILSINCONNECTIONTHEREWITH.WHEREAS,theBoardofCommissioners(the“Board”)oftheEstesParkUrbanRenewalAuthority,TownofEstesPark,LarimerCounty,Colorado(the“Authority”)hasheretoforedeterminedanddeclaredthenecessityofleasingthatcertainrealpropertysituateintheTownofEstesPark,Colorado(the“Town”)anddescribedasfollows:Lot2,StanleyKnollSubdivision,TownofEstesPark,CountyofLarimer,StateofColorado.(the“Property);andWHEREAS,theAuthorityispermittedbylawtoexpendtaxincrementfundstopaytheprincipalofandtheinterestonobligationsincurredbytheAuthorityforfinancing,inwholeorinpart,anurbanrenewalprojectwithintheurbanrenewalareaintheTown;andWHEREAS,acquisitionofaninterestinanduseofthePropertyisapartofongoingurbanrenewalprojectsapprovedandmanagedbytheAuthoritywithintheTown;andWHEREAS,acquisitionofaninterestinanduseofthePropertyforlawful,publicpurposesisincompliancewiththeEstesParkDowntownRedevelopmentProgram(the“UrbanRenewalPlan”),asmodified:andWHEREAS,thatcertainLease/OptiontoPurchaseAgreement(the“LeaseAgreement”),datedasofApril1,1997,byandbetweentheAuthorityandBeefitCorporation(“Beefit”),inEstesPark,Colorado,constitutesanobligationtheprincipalofandinterestonwhichlawfullymaybepaidfromtaxincrementmoneysreceivedbytheAuthority;andWHEREAS,theAuthorityispermittedbylawtomakeandexecuteanyandallcontractsitmaydeemnecessaryorconvenienttotheexerciseofitspowers;andWHEREAS,theBoardhasdeterminedandherebydeterminesthatitisinthebestinterestsoftheAuthoritythatthePropertybeleasedfromBeefitwithleasepayments(the“LeasePayments”)representingprincipalofandinterestontheobligation;andWHEREAS,theLeasePayments,astoboththeprincipalcomponentandtheinterestcomponentthereof,aresubjecttoannualappropriationbytheBoard;andWHEREAS,theAuthorityhasenteredintoandcompletednegotiations,andnowdesirestoexecutetheLeaseAgreementwithBeefit;and WHEREAS,theAuthorityhastheoptionundertheLeaseAgreementtopurchasethePropertyinfee;andWHEREAS,pursuantto§18-8-308C.R.S.,anyknownpotentialconflictinginterestofthemembersoftheBoardweredisclosedtotheColoradoSecretaryofState(the“SecretaryofState”)andtotheBoardinwritingatleast72hoursinadvanceofthismeeting;additionally,inaccordancewith§24-18-110C.R.S.,themembersoftheBoardhavemadetherequireddisclosureofanypersonalandprivateinterestsrelatingtotheproposedtransactioninwritingtotheSecretaryofStateandtheBoardpriortotakinganyactionwithrespecttosuchtransaction.THEREFORE,BEITRESOLVEDBYTHEBOARDOFCOMMISSIONERSOFTHEESTESPARKURBANRENEWALAUTHORITY,TOWNOFESTESPARK,LARIMERCOUNTY,COLORADO:Section1.Authorization.ExecutionanddeliveryoftheLeaseAgreementbytheAuthorityisfullyinaccordancewiththeConstitutionoftheStateofColorado,Title31,Article25,Part1C.R.S.;allotherlawsoftheStateofColoradothereuntoenabling;andtheprovisionsofthisresolution(this“Resolution”)authorizingtheexecutionanddeliveryoftheLeaseAgreement.Section2.NatureoftheAuthority’sObligationsundertheLeaseAgreement.TheAuthorityisnotobligatedbytheLeaseAgreementtomakeanyLeasePaymentsinanyfiscalyearbeyondthefiscalyearforwhichfundsareappropriatedforthepaymentthereofortomakepaymentsfromanyfundsoftheAuthorityotherthanfundsappropriatedforthepaymentofcurrentexpenditures.AllpaymentobligationsoftheAuthorityundertheLeaseAgreementarefromyeartoyearonlyanddonotconstituteamultiplefiscalyearfinancialobligationordirectorindirectdebtoftheAuthority.TheLeaseAgreementshallnotconstituteorbecomeadebtoranindebtednessoramultiplefiscalyearfinancialobligationoftheAuthoritywithinthemeaningofanyconstitutionalprovisionorlimitation;however,itshallbeconsideredandheldtobeanobligation,theprincipalandinterestonwhichmaybepaidlawfullyfromtaxincrementrevenuesoftheAuthority.Section3.formandExecutionoftheLeaseAgreement.TheLeaseAgreementshallbesignedwiththemanualsignatureoftheChairoftheAuthority,sealedwiththeimpressionofthesealoftheAuthorityandattestedwiththemanualsignatureoftheSecretaryoftheAuthority.ShouldanyofficerwhosemanualsignatureappearsontheLeaseAgreementceasetobesuchofficerbeforedeliveryoftheLeaseAgreement,suchmanualsignatureshallneverthelessbevalidandsufficientforallpurposes.TheLeaseAgreementshallbesubstantiallyintheformattachedheretoasExhibitA.Section4.DetailsoftheLeaseAgreement.ThetermoftheLeaseAgreementbeginsonMay1,1997,andendsonDecember31,1997.TheLeaseAgreementmayberenewedsolelyattheoptionoftheAuthorityforsixconsecutivetwelve-monthterms,eachendingonDecember31oftheyearinwhichitbegan.PaymentbytheAuthorityoftheLeasePaymentsissubjecttoannualappropriationineachyearinwhichtheLeaseAgreementistoberenewed.TheinitialLeasePaymenttoBeefitundertheLeaseAgreementis$400,000.00;thereafter,eachannualLeasePaymentis$119,230.12,payableonorbeforeMay1stineachyear.ThetotalamountpayablebytheAuthorityundertheLeaseAgreement(iftheLeaseAgreementisrenewedforthemaximumnumberofterms)is$699,361.14(the“MaximumLeasePayment”)TheAuthoritymayelecttopurchasethe3 c:1Propertyattheendofsixterms,ortheAuthoritymayelecttopurchasethePropertyatanytimebeforetheendofsixtermsbyprepayingtheremainingMaximumLeasePaymentafterpreviousLeasePaymentsalreadymadebytheAuthorityaredeductedtherefrom.TheneteffectiveinterestrateauthorizedfortheLeaseAgreementissixpercentperannum.TheprincipalandinterestcomponentsoftheLeasePaymentsaresetforthindividuallyinExhibitA.Section5.AuthorityLimitedObligorundertheLeaseAgreement.TheAuthorityisthelimitedobligor,totheextentofitsannualappropriationoffundstherefor,undertheLeaseAgreement.Noneofthecovenants,agreements,representations,andwarrantiescontainedhereinorintheLeaseAgreementevershallimposeorbeconstruedasimposinganycontinuingliability,obligationorchargeagainsttheAuthorityintheeventofnon-appropriationbytheAuthorityforarenewaltermoftheLeaseAgreementinanyyear.Noneofthecovenants,agreements,representationsandwarrantiescontainedhereinorintheLeaseAgreementevershallimposeorbeconstruedasimposinganyliability,obligationorchargewhatsoeveragainsttheTownofEstesParkoritsgeneralcredit,orimplythatanypaymentsdueundertheLeaseAgreementarepayableoutoftheTown’sgeneralfundoroutofanyotherfundsoftheTown.Section6.ObligationUnsecured.ThepaymentoftheLeasePaymentsisnotsecuredbyanencumbrance,mortgageorotherpledgeofanypropertyorfundsoftheAuthority,issubjecttoannualrenewalsolelyattheoptionoftheAuthority,andshallbeterminatedupontheoccurrenceofaneventofnon-appropriationbytheAuthority.Section7.AuthorizationtoExecuteDocuments.TheChairandtheSecretaryoftheAuthorityshall,andtheyareherebyauthorizedanddirectedtotakeallactionsnecessaryorappropriatetoeffectuatetheprovisionsofthisResolution,including,butnotlimitedto,theexecutionoftheLeaseAgreementandsuchcertificatesandaffidavitsasmayreasonablyberequiredbycounsel.Section8.CostsandExpenses.AllcostsandexpensesincurredinconnectionwiththeexecutionoftheLeaseAgreementshallbepaideitherfromlegallyavailablemoneysoftheAuthority,inanaggregateamountnottoexceed$400,000.00,andsuchmoneysareherebyappropriatedforthatpurpose.Section9.Designationasa“OualifiedTax-ExemptObligation”.TheAuthorityherebydesignatestheLeaseAgreementasa“qualifiedtax-exemptobligation”forpurposesofSection265(b)(3)oftheInternalRevenueCode.Section10.RatificationandApprovalofPriorActions.AllactionsheretoforetakenbytheofficersoftheAuthorityandthemembersoftheBoard,notinconsistentwiththeprovisionsofthisResolution,relatingtotheauthorizationoftheLeaseAgreementareherebyratified,approvedandconfirmed.Section11.Repealer.Allorders,actions,agreements,bylaws,andresolutionsoftheAuthority,orpartsthereof,inconsistentorinconflictwiththisResolution,areherebyrepealedtotheextentonlyofsuchinconsistencyorconflict.4 CaSection12.Severability.Ifanysection,paragraph,clauseorprovisionofthisResolutionshallforanyreasonbeheldtobeinvalidorunenforceable,theinvalidityorunenforceabilityofthesection,paragraph,clauseorprovisionshallnotaffectanyoftheremainingprovisionsofthisResolution,theintentbeingthatthesameareseverable.Section13.RecordingandAuthentication:EffectiveDate.ThisResolutionshallberecordedinrecordskeptforthatpurpose,shallbeauthenticatedbythesignaturesoftheChairandtheSecretaryoftheAuthority.ThisResolutionshallbeeffectiveimmediatelyuponitsfinaladoptionbytheBoard.INTRODUCEDANDFINALLYPASSEDANDADOPTEDthis30thdayofApril,1997.(SEAL)(_-//ChairIItwasthereuponmovedbyCommissionerWassonandsecondedbyCommissionerPutneythattheforegoingResolutionbefinallypassedandadopted.ThosevotingAYE:Gunn,Henderson,Kiaphake,Putney,Steige,Swank,WassonThosevotingNay:NoneAmajorityofthemembersoftheBoard,havingvotedinfavorofthemotion,thepresidingofficerthereupondeclaredthemotioncarriedandthisResolutionfinallypassedandadopted.Thereupon,afterconsiderationofotherbusinesstocomebeforetheBoard,themeetingwasadjourned.(SEAL)Chaira”Secretary5 aCSTATEOfCOLORADO))TOWNOFESTESPARK))ESTESPARKURBAN)RENEWALAUTHORITY)I,ArthurAnderson,SecretaryoftheBoardofCommissionersoftheEstesParkUrbanRenewalAuthority,TownofEstesPark,LarimerCounty,Colorado,doherebycertifythattheforegoingpagesnumbered1to5inclusive,constituteatrueandcorrectcopyofthatportionoftherecordofproceedingsoftheBoardrelatingtothefinalpassageandadoptionofaresolutionauthorizingtheAuthoritytoenterintoaLeaseAgreement,allattheregularmeetingoftheBoardheldatHolidayInn,inEstesPark,Colorado,onWednesday,the30thdayofApril,1997,atthehourof7:30a.m.,asrecordedintheofficialrecordofproceedingsofsaidAuthoritykeptinmyoffice;thattheproceedingsweredulyhadandtaken;thatthemeetingwasdulyheld;thatthepersonsthereinnamedwerepresentatsaidmeetingandvotedasshowntherein;allinaccordancewithlaw.WITNESSmyhandandthesealofsaidAuthoritythis30dayofApril,1997.Secretary6