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RESOLUTION 04-95
CCRESOLUTION4-95WHEREAS,theTownofEstesPark(the“Town”)intendstopresenttocertainelectorsquestionsregardingthecreationofaspecialimprovementdistrictpursuanttoTitle31,Article25,Part5,coloradoRevisedStatutes,andtheissuanceofspecialassessmentbonds,inordertoprovidecertaininfrastructureimprovementswithintheParkEntranceEstatesSubdivisionwhichwillbeofspecialbenefittopropertiestherein;andWHEREAS,ifthevotersapprovethecreationofsuchspecialimprovementdistrictandtheissuanceofbonds,theTownintendstoissuetax-exemptspecialassessmentbondsinamaximumprincipalamountof$750,000.00tofinancesuchinfrastructureimprovementswhichareexpectedtoinclude,butnotbelimitedto,streetandroadimprovements,includingright-of-wayacquisition,stormanddrainageimprovementsandwatersystemimprovements;andWHEREAS,theauthorizationandissuanceofsuchbondswillbeaccomplishedassoonasispracticable;andWHEREAS,itispossiblethattheTownwillneedtomakecertainexpendituresfromitsgeneralfundinconnectionwiththeconstructionofsuchinfrastructureimprovementspriortotheissuanceofsuchspecialassessmentbonds;andWHEREAS,insuchevent,itistheintentoftheTowntoreimburseitsgeneralfundforsuchexpendituresfromtheproceedsofsuchbondswhentheyareissued.NOWTHEREFORE,BEITRESOLVEDbytheBoardofTrusteesoftheTownofEstesPark:1.TheTownherebydeclaresitsintenttoreimburseitsgeneralfundfromtheproceedsofanissueoftax-exemptspecialassessmentbondsinaprincipalamountnottoexceed$750,000.00,whenissued,foranyexpendituresitmaymaketowardtheconstructionofinfrastructureimprovementsofspecialbenefittopropertieslocatedwithintheParkEntranceEstatesSubdivisionpriortoitsissuanceofsuchtaxexemptbonds. 00 CC2.ThisresolutionofintentismadebytheTownincompliancewithUnitedStatesTreasuryRegulationSection1.150-2.3.Thisresolutionshallbeeffectiveuponitsadoption.aPASSEDANDADOPTEDTHIS/%DAYOFFEBRUARY,1995.TOFESTESPARK,COLORADOayorATTEST:gjTownClerk oo