HomeMy WebLinkAboutRESOLUTION 08-880
R E S 0 L U T I 0 N 8-88
WHEREAS,the Town of Estes Park has entered into a Contract
with M.D.C.Land Corporation,including a First and Second Amend
ment thereto;and
WHEREAS,this Contract provides for payment of the annual
debt service for 35 units of Windy Gap water by M.D.C.Land
Corporation or its assigns,Superior Metropolitan District #1;
and
WHEREAS,the Contract between the Town of Estes Park and
M.D.C.Land Corporation to purchase 35 units and the Allotment
Contract of the Superior Metropolitan District #1 are subject to
the approval of the Board of Directors of the Municipal Subdis
trict,Northern Colorado Water Conservancy District;and
WHEREAS,said approval is contingent upon the Municipal
Subdistrict receiving an opinion of its Bond Counsel stating that
the terms and provisions of the Allotment Contract do not impair
the security of the bonds;and
WHEREAS,M.D.C.Land Corporation or Superior Metropolitan
District #1 will pay the Town of Estes Park $783,250 prior to
receipt of said opinion from the Bond Counsel.
NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE TOWN OF ESTES PARK,COLORADO:
1.That the Town of Estes Park shall immediately
reimburse M.D.C.Land Corporation or the Superior
Metropolitan District #1 for any amount paid to
the Town on April 1,1988 in the event that the
Bond Counsel opinion does not approve the Allot
ment Contract between the Municipal Subdistrict
and the Superior Metropolitan District #1.
ADOPTED this 31st day of March ,88
TOWN OF ESTE$PARK
Mayor
ATTEST:
Town Clerk
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