HomeMy Public PortalAboutOrdinance #273TOWN OF ERASER
ORDINANCE NO. ~ /
AN ORDINANCE PROVIDING FOR A SUBLEASE OF REAL PROPERTY OWNED BY
THE TOWN OF ERASER FOR A TERM EX('FFDING ONE YEAR.
WHEREAS, the Town of Fraser has contracted to purchase the property described as
Lots 35 to 42, inclusive, Block 1, Town of Eastom, in the Town of Fraser, Colorado; and
WHEREAS, the Town intends to enter into a Ground Lease and a Lease and Purchase
Option Agreement with Wells Fargo Brokerage Services, LLC (ALender@) to finance the
acquisition of such property, whereby the Town will lease the property to said Lender and acquire
a sublease and option to purchase said property from said Lender; and
WHEREAS, upon the closing of said purchase and financing arrangements, the Church of
the Eternal Bills, Inc., a Colorado nonprofit corporation (AChurch@) desires to sublease a
portion of said property from the Town for a term which may extend beyond one year; and
WHEREAS, the Board of Trustees hereby finds and determines that said sublease to the
Church is in the best interest of the Town, since it will facilitate the acquisition of said property by
the Town.
NOW THEREFORE, BE IT ORDAINED BY THE BOARD OF TRUSTEES OF THE TOWN
OF ERASER, COLORADO, THAT:
SECTION 1. Provided that the Town concludes the financing for and acquisition of the following
described property, the Board of Trustees hereby approves and authorizes the subleasing of the
following real property located in the Town of Fraser, County of Grand, and State of Colorado,
to-wit:
Lots 35 to 42, inclusive, Block 1, Town of Eastom;
to Church of the Eternal Bills, Inc., a Colorado nonprofit corporation, for a term extending to no
later than December 31, 2002, pursuant to the terms provided in the Rental Agreement dated as
of August 3, 2001, in the form and content presented to and reviewed by the Board, and subject
to all provisions of said Ground Lease and a Lease and Purchase Option Agreement to be entered
into with Wells Fargo Brokerage Services, LLC. The Mayor and the Town Clerk are authorized
to execute and deliver said Rental Agreement, to effectuate such sublease.
SECTION 2. The Board of Trustees finds and determines that the subleasing of said real
property, as authorized by this Ordinance, is in the best interest of the Town, that said Rental
Agreement is made pursuant to the provisions of C.R.S. 31-15-713, and that all requirements of
said statute have been complied with.
SECTION 3. The Board of Trustees further finds and determines that this Ordinance is necessary
to the immediate preservation of the public health and safety, in order to allow the Town to
acquire ownership of said property and obtain lease-purchase financing upon terms favorable to
the Town; and this Ordinance shall therefore take effect immediately upon adoption.
READ, PASSED, ADOPTED AND ORDERED PUBLISHED BY THE BOARD OF
TRUSTEES AND SIGNED THIS ~~TH day of A 11CTl 1 ~7' , 2001.
Votes in favor:
Votes opposed:
Votes abstained
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Published in the Wurter Park Manifest on ~~~' oZoZ-> , 2001.
BOARD OF TRUS 1~~5 OF THE
TOWN OF ERASER, COLORADO
BY: ivr^~ _
Dennis Soles, Mayor z
ATTEST:
r, Town Clerk (.LNr~~~"l
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02/148063.2 -2-
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