HomeMy Public PortalAboutTBP 1997-12-03
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! P.O. Box 120/153 Fraser Avenue
Fraser, Colorado 80442
(970) 726-5491
FAX Line: (970) 726-5518
TOWN BOARD AGENDA
REGULAR MEETING k
DECEMBERJ, 1997, 7:30 \;J. '
1:b f b,,~ e.
1. Roll ""II to~ ~ i; O~)tf/ CQ-\~ ~
2. Approval of minutes ~~ ~, ,\..~r'~v-J j<1l~ I
3. 7;30 p.m. Public Hearing on the 1998 Proposed Bodget ~ ~ IpJ ~
4. Open Forum If'" vb\
a) Lurline Underbrink-Curran: Grand County Growth Plan, proposed growth
boundaries surrounding Fraser.
5. Chamber of Commerce Update, Catherine Ross
6. Action Items
a) Resolution 12,..1-97, Summarizing revenues and expenditures and adopting
the 1998 Budget.
b) Resolution 12-2-97, Levying general property taxes for the year 1997.
c) Resolution 12-3-97, Appropriating sums of money to various funds and
spending agencies.
d) Resolution 12-4-97, Accepting a charitable contribution from Cary and
Sara S1. Onge.
e) Resolution 12-5-97, Accepting a gift from Marilyn and Heywood Walker.
t) Resolution 12-6-97, Annual renewal of the Town's Annexation Plan.
g) Motions to approve liquorlicenses for the following:
1 ) Safeway
2) Bottle Pass Liquors
3) Byers Peak Restaurant
h) Motions directing the Town Manager to move forward with leases for
town property with the following agencies and/or entities:
I}Fraser Valley Metropolitan Recreation District, the Town Hall .
2) Fraser Valley Metropolitan Recreation District, 200 Eisenhower
3) Fraser Valley Seniors, 159 Fraser Avenue
4) Larry Ranft, 400 Doc Susie A venue
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t) Motions directing the Town Manager to move forward with contracts with
the following agencies and/or entities: .
1) Grand County Sheriffs Department
2) Grand County Building Department
3) Fraser Sanitation District (equipment)
4) Winter Park West Water & Sanitation District (equipment)
5) Grand County Library District (existing building use)
j) Motions naming the following Town Officials and. directing the Town
Manager to move forward with contracts (ifapplicable) with the
following persons and/or entities:
1) Town Marshall: Rod Johnson, Grand County Sheriff
2) Town Attorney: Rod McGowan, Baker, Cazier, McGowan
3) Water Attorney: Stan Cazier, Baker, Cazier, McGowan
3) Fire Chief: Todd Holzworth, East Grand Fire Protection #4
4) Town Engineer: Jim Swanson, Bucher, Willis, & Ratliff
5) Town Water Engineer: not applicable at this time
6) Town Clerk: Vicky Winter
7) Town Manager: Chuck Reid
7. Discussion Items
a) Growth Coordination Plan
8. Staff Choice
a) Other employee contracts
9. !Board Member's Choice .
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Upcoming Meetings
December 2nd: Fraser Sanitation District, 7:30 p.m. Fraser Town Hall
December 10th: CML Growth Workshop
Fraser Planning Commission, 7:30 p.m. Fraser Town Hall
December lIth: Joint Wastewater Treatment Plant meeting, 7:00p.m. Fire House
December 17th: Fraser Town Boarc;I, 7:30 Fraser Town Hall
Christmas Party following the regular meeting at the Reid's
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TOWN OF FRASER
"Icebox of the Nation"
P.O. Box 120/153 Fraser Avenue
Fraser, Colorado 80442
(970) 726-5491
FAX Line: (970) 726-5518
TOWN BOARD WORKSHOP
DECEMBER 3, 1997,6:00 p.m.
1. 1998 proposed budget
2. 1998 proposed drainage and hard surfacing project (Vicki Mattox & Jim Swanson)
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TOWN OF FRASER
"Icebox of the Nation"
P.O. Box 120/153 Fraser Avenue
Fraser, Colorado 80442
(970) 726-5491
FAX Line: (970) 726-5518
11/26/97 Manager's BrieflJpdate
Gobble, gobble, gobble! Happy Thanksgiving!!!
Next Wednesday's meeting looks to be a humdinger -- A LOT of action items. [fyou recall, a
few weeks ago we talked about getting all the year-end and annual items on one agenda: well,
here it is (to the best of staffs knowledge). I
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Supper will be served at 6:00 and the budget workshop will be continued. An updated copy of
the hudget with your changes is enclosed. All that remaintr finalizing the grants and aids to
other agencies and any additional changes you want to ma' . A draft of the goals and ohjectives
that came out of the Board workshop is enclosed and will k so be discussed. Then at 7:00, Vicki
Mattox from George K. Baum and Jim Swanson from Buch r, Willis, & Ratliff will be present
to provide some information on the proposed drainage an~ hard surfacing project.
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The regular meeting is chocked-full of action items. However, prior to the action items, the
Public Hearing to consider the 1998 budget is scheduled at 7:30 and we get to hear from Grand
County on proposed growth areas that surround Fraser. W~ will continue our discussion of
Fraser's growth area at the December 10th Planning Commission meeting. Finally, Catherine
Ross will be present to update us on Chamber of Commerge events.
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The action items include six resolutions:
. three of the resolutions adopt and enact the 19Q8 budget;
. one resolution accepts a $22,500 charitable corttribution from Cary and Sara S1. Onge
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(the difference between the appraised value of fhe 5.5 acre parcel we just bought with
Winter Park and the price that we actually paid/or it);
. one resolution accepts a gift from Marilyn and Heywood Walker -- the gift being the
south 40 feet of lot 21 -- the area south of the "gardeners shack" at the corner of
Leonard Lane and Eisenhower; !
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. one resolution renews the Town's annexation p~an as adopted by the Board last
February and the Planning Commission last Depember. Based on Colorado Statutes,
we need to adopt the annexation plan annually: Iwe had hoped to be far enough along
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in the growth coordination project to identify a Inew annexation plan that coincided
with Fraser's growth boundaries, but we're not ~here yet. As this is an annual
adoption, it is on this agenda. I
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Then we have three liquor licenses to renew.
Finally, we have several motions directing me to move forward with various leases and contracts
that the Town has with individuals and/or entities as well as naming 1998 Town officials.
This should cover us for most of the year-end statutory and code requirements.
In other news~ at 2:45 p.m. last Friday, I heard that Maryvale was purchased by "a big player out
of New YorkT Have a great Thanksgiving!
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TOWN BOARD
NOV. 19, 1997
The regular meeting of the Town Board was called to order at 7:30 p.m. Board present were
Mayor Johnston, Trustees; Klancke, McIntyre, Wirsing, Havens, Sanders. Staff present were
Reid, Trotter, Winter and Stone.
Minutes of the 11/05/97 meeting were approved as written.
OPEN FORtIM
Mayor Johnston asked for any audience comments or questions to the proposed 1998 budget.
None.
Tim Gagnon, Orand County Engineer, presented information on Fraser Valley Master Road Plan
with regards to traffic studies and road planning for the area of land north west of Fraser.
Audience and Board asked various question on the plan.
Ross Libenson, representing the Fraser Cemetery Assoc., gave a proposal on easements, view
corridors and building restriction areas. Reid commented that staff recommendation would be
that no action take place with regards to these proposals until the land is actually in title. Board
would like further consultation on this matter.
ACTION ITEM
Trotter presented a Resolution to vacate Peak View Condominiums. McIntyre made a motion to
approve Resolution No. 11-1-97, 2nd Wirsing, carried.
DISCUSSION ITEMS
Reid stated that he will give a report on the Fraser Valley Leadership Forum at the 2nd meeting
of each. month. Reid said they have been discussing transportation recently.
Reid gave an Ij1pdate of the Sewer District's plant consolidation. He advised that the Board may
need to be involved more.
Reid reported that the demolition burn went well, but the property.has not been cleaned yet.
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Reid updated information on the water project.
Willy Woods will be working for the Town plowing snow this winter.
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Klancke asked that the Board think about selling land to the Cemetery Assoc. or trading land
when considerling the request from the Cemetery.
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No further bus~ness, meeting adjourned at 10:00 p.m.
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TOWN OF FRASER
RESOLUTION \ t~ \ ~ ot,1
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND
AND ADOPTING THE BUDGET FOR THE TOWN OF FRASER, COLORADO FOR THE
CALENDAR AND FISCAL YEAR, 1998.
WHEREAS, !Board of Trustees of the Town of Fraser has appointed the Town Manager to
prepare and su mit a proposed budget to said governing body at the proper time; and
WHEREAS, the Town Manager has submitted a proposed budget to said governing body for it's
consideration;, and
WHEREAS, upon due notice and published in accordance with Colorado Sta tes, the budget
was available at the FraserTown Hall and a public hearing was held on \ ~~. 1- giving
interested taxpayers the opportunity to file or register any objections to said udget; and
WHEREAS, tlile proposed budget remains in balance, as required by law;
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO:
SECTION 1. That estimated expenditures for each fund are as follows:
General Fund
Water Fund
Conservation Trust Fund
Developers Trust Fund
SECTION 2. That revenues for each fund are as follows:
General Fund
Water Fund
Conservation Trust Fund
Developers Trust Fund
SECTION 3; 1ny and all year end fund balances .shalI be considered a "reserve increase" and
therefore part. fthe 1998 tlSClll year speodiog, within tbe meaning ofarti.le X, section 20(2)(e)
of the ColoradQConstitution.
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THAT THE BUDGET AS SUBMITTED, AMENDED AND HEREIN ABOVE SUBMITTED
BY FUND, HEREBY IS ADOPTED AND APPROVED AS THE BUDGET FOR THE TOWN
OF FRASER FOR THE CALENDAR AND FISCAL YEAR 1998.
THA T SAID BUDGET HEREBY APPROVED SHALL BE SIGNED BY THE MAYOR OF
THE TOWN OF FRASER AND MADE PART OF THE PUBLIC RECORDS OF THE TOWN.
DUL Y MOVED, SECONDED, AND ADOPTED THIS _ DAY OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
Town Clerk
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TOWN OF FRASER
RESOLUTION \ t . 'I-~ q1
A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 1997 TO
HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF FRASER,
COLORADQ,FOR THE BUDGET YEAR 1998.
WHEREAS, the Board of Trusteess of the Town of Fraser has adopted the annual budget in
accordance with all Local Government Laws, on 1997; and
WHEREAS, the amount necessary to balance general operations expenses is ,
and
WHEREAS, the amount necessary to balance water fund operations is ; and
WHEREAS, the 1996 valuation for the Town of Fraser as certified by the County Assessor is
,
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO:
SECTION 1. That tor the purpose of meeting all general operation expenses of the
Town during the 1998 Budget year, there is hereby levied a tax of mills
upon each and every dollar of valuation for assessment of all properties within the Town
ofFra!)er for the year 1997.
SECTION 2. That for the purpose of meeting all water fund operation expenses of the
Town during the 1998 budget year, there is hereby levied a tax of mills
upon each and every dollar valuation for assessment of all properties within the Town of
Fraser for the year 1997.
SECTION 3. That the Clerk is hereby authorized and directed to immediately certify to
the Grand County Commissioners, of the County of Grand, the mill levies for the Town
of Fraser as herein above described and fixed.
DULY MOVED, SECONDED, AND ADOPTED TillS DA Y OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
TOWN CLERK
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TOWN OF FRASER
RESOLUTION lt~~... tl1-
A RESOLUTION APPROPRIATING SUMS OF MONEY TO VARIOUS FUNDS AND
SPENDING AGENCIES, IN THE AMOUNT AND FOR THE PURPOSE AS SET FORTH
BELOW, FOR THE TOWN OF FRASER, COLORADO FOR THE BUDGET YEAR 1997.
WHEREAS, the Board o(TruStees ofthe Town ofErser has adopted lhe annual budget in
accordance wlth Colorado's Revised Statutes on It. ~ ItiJ1' ; and
WHEREAS,.the Board of Trustees have made provisions therein for the revenues in an equal
amount or greater than the total expenditures as set forth in said budget; and
WHEREAS, it is not only required by law, but necessary to appropriate the revenues provided in
the budget to and for the purposes described below, so as not to impair the operations ofthe
Town of Fraser, Colorado;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO:
SECTION 1. The following sums of mon~y are appropriated from the revenues
provided of each fund, for the purposes stated:
General Fund
i Water Fund
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Conservation Trust Fund
Developers Trust Fund
SECTION 2. Any and all year end fund balances shall be considered a "reserve increase"
and thtrefore part of the 1997. fiscal year spending, within the meaning of article X,
section 20(2)(e) of the Colorado Constitution.
DUL Y MOVED, SECONDED, AND ADOPTED THIS DA Y OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
Town Clerk
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TOWN OF FRASER
RESOLUTION \~~~.~1
A RESOLUT~ON ACCEPTING A CHARITABLE DONATION FROM CARY AND SARA ST.
ONGE.
WHEREAS,Cary and Sara S1. Onge owned a parcel of land (the "S1. Onge parcel") adjacent to
Fraser upon ~hich they wanted to develop residential housing; and
WHEREAS, the town~ofFraser and Winter Park have a substantial interest in securing a broad
range of housing options for the people who live in the Upper Fraser River Valley; and
WHEREAS, Fraser and Winter Park jointly offered to purchase the St. Ooge parcel, thereby
securing its development as.affordable/attainable housing; and
WHEREAS, the St. Onge's accepted theto~s' offer and further agreed to assist this project by
making a charitable contribution of $45,000 (by decreasing the cost of the land) to the towns of
Fraser and Winter Park; and
WHEREAS, the towns of Fraser and Winter Park finalized the purchase of the S1. Onge parcel
on November iJ.4, 1997;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO, THAT THE TOWN OF FRASER ACCEPT A CHARITABLE
CONTRIBUTION FROM CARYAND SARA ST. ONGE IN THE AMOUNT OF $22,500.
DUL Y MO~D~ SECONDED, AND ADOPTED THIS DA Y OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
Town flerk
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TOWN OF FRASER
RESOLUTION r~' '5 ,q1-
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A RESOLUTION ACCEPTING A GIFT FROM MARILYN AND HEYWOOD WALKER.
WHEREAS, Marilyn and Heywood Walker own a small parcel of land in Fraser; and .:.j
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WHEREAS, the Walker's approached the Grand County Land Conservancy to see if they could
donate the lan~ to the Conservancy; and
WHEREAS, the location and adjacent uses of the Walker's parcel make it more valuable to the
Town ofFras~rthan the Land Conservancy thereby causing the Conservancy to approach the
Walker's about donating this parcel to Fraser, who would then make a monetary contribution to
the Conservancy;
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NOW, THEREFORE, BE ITRESOL VED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, ~OLORADO, THAT FRASER ACCEPT A GIFT FROM MARILYN AND
HEYWOOD WALKER, MORE SPECIFICALLY KNOWN TO AS THE SOUTH 40 FEET OF
LOT 21, BLOCK 1, TOWN OF EASTOM, NOW KNOWN AS THE TOWN OF FRASER AND
THAT THE TOWN OFFRASER WILL MAKE A MONETARY CONTRffiUTION TO THE
GRAND COUNTY LAND CONSERVANCY IN RETURN FOR TIllS GIFT.
DULY MOVED, SECONDED, AND ADOPTED THIS DAY OF DECEMBER, 1997.
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TOWN OF FRASER
By:
Mayor
Attest:
Town Clerk
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TOWN OF FRASER
RESOLUTION (~. tt.. 41-
A RESOLUTION RENEWING THE TOWN OF FRASER'S ANNEXATION PLAN, AS
APPROVED BY THE FRASER PLANNING COMMISSION AND AS IS AUTHORIZED AND
REQUIRED BY COLORADO REVISED ST A TlITES.
WHEREAS, the Town of Fraser is required by C.R.S. 31-12-105(1)(e) to have in place an
annexation plt,ln prior to the completion of any annextltion within a three mile area from the
existing municipal boundaries and that the annexation plan be renewed annually; and
WHEREAS, the Annexation Plan will be used in conjunction with the Fraser Community plan
Volume I and II, and the areas depicted as "secondary growth areas" have been discussed in
detail regardiQg land description, land use. utilities. transportation, community services. open
space, and patks and recreation; and
WHEREAS. the Fraser Planning Commission extensively reviewed the annexation plan and no
changes are b4ing recommended to the plan they adopted on December 12, 1996 for the health.
safety, and welfare of current and future inhabitants of the Town of Fraser;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF ll-IE TOWN
OF FRASER, COLORADO THAT THE ANNEXATION PLAN AS APPROVED BY THE
FRASER PLAiNNING.COMMISSION BE RENEWED.
DULY MOVEn, SECONDED, AND ADOPTED THIS DAY OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
TOWN CLERK
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TOWN OF FRASER
"Icebox of the Nation"
P.O. Box 120/153 Fraser Avenue
Fraser, Colorado 80442
(970) 726-5491
FAX Line: (970) 726-5518
MEMORANDUM .
To: Mayor Jeff J~d Fraser Trustees
From: Chuck Reid .
Date: November 2 , . 97
Subject: Employee Contracts
It is my intent to renew contracts for the following Fraser employees in 1998:
Jim Tucker, Public Works Director
Catherine Trotter, Town Planner and Community Development Director
Cheryl Chesson, Deputy Clerk
Susan Stone, Visitors' Center Coordinator
DebraSheldon, Public Works Equipment Operator II
Brenden Bridge, Public Works Equipment Operator 1
Stan Jones, Visitors' Center Information Clerk
Denny Clotfelter, Visitors' Center Information Clerk
[do not renew Vicky Winter's contract: her contract is renewed bi-annually by the Board of
Trustees. 1 would like to schedule my review with the Board on Wednesday, January 21, 1998.
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TOWN OF FRASER
RESOLUTION ;7/. 1
A RESOLUTION SUMMARIZING EXPENDITURES AND REVENUES FOR EACH FUND
AND ADOPTING THE BUDGET FOR THE TOWN OF FRASER, COLORADO FOR THE
CALENDAR ;AND FISCAL YEAR, 1998. \tl
WHEREAS, Tte Board of Trustees of the Town of Fraser has appointed the Town.Manager to
prepare and submit a proposed budget to said governing body at the proper time; and
WHEREAS, the Town Manager has submitted a proposed budget to said governing body for it's
consideration; and
WHEREAS, upon due notice and published in accordance with Colorado Statutes, the budget
was available .at the Fraser Town Hall and a public hearing was held on giving
interested taxpayers the opportunity to file or register any objections to said budget; and
WHEREAS. the proposed budget remains in balance, as required by law;
NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO:
SECTlON 1. That estimated expenditures for.each fund are as follows:
. General Fund 2.J!!~~
Water Fund Z2..lI#f.:.
Conservation Trust Fund 3, ,c",S-
. Developers TrustFund ~--
SECTION 2. That revenues for each fund are as follows:
General Fund 3 'Zoo (:)) 4--, t.f
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Water Fund 2,1-/, ~
Conservation Trust Fund 3 J(P~
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Developers Trust Fund fj J (,,7 !f
SECTION 3. Any and all yearend fund balances shall be considered a "reserve increase" and
therefore part of the 1998 fiscal year spending, within the meaning of article X, section 20(2)( e)
of the Colorado Constitution. .
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THA T THE BUDGET AS SUBMITTED. AMENDED AND HEREIN ABOVE SUBMITTED
BY FUND, HE;REBY IS ADOPTED AND APPROVED AS THE BUDGET FOR THE TOWN
OF FRASER FOR THE CALENDAR AND FISCAL YEAR 1998.
THAT SAID BUDGET HEREBY APPROVED SHALL BE SIGNED BY THE MAYOR OF
THE TOWN OF FRASER AND MADE PART OF THE PUBLIC RECORDS OF THE TOWN.
DULY MOVED, SECONDED. AND ADOPTED THIS _ DAY OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
Town Clerk
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.-- TOWN OF FRASER
RESOLUTION /1/
A RESOLUTION LEVYING GENERAL PROPERTY TAXES FOR THE YEAR 1997 TO
HELP DEFRAY THE COSTS OF GOVERNMENT FOR THE TOWN OF FRASER,
COLORADO, fOR THE BUDGET YEAR 1998.
WHEREAS, the Board of Trusteess of the Town of Fraser dopted the annual budget in
accordance with an Local GovernmentLaws, on 'l..,.... t:t7j.. 1997; and
WHEREAS, tbe amount necessary to balance general operations expenses is !D I ~;U. ,
and r
WHEREAS, the amount necessary to balance water fund operations is l1 7.ffa ; and
WHEREAS, the 1996 valuation for the Town of Fraser as certified by the County Assessor is
t Dj 'lo'l, DO'O ,
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NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO:
SECTION I. That for the purpose of meeting all general operation expenses of the
Town ~uring the 1998 Budget year, there is hereby levied a tax of &.038 mills
upon each and every dollar of val uation for assessment of all properties within the Town
of Fras~r for the year 1997.
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SECTI<PN 2. That for the purpose of meeting all water fund operation expenses of the
Town quring the 1998 budget year, there is hereby levied a tax of. L 3 4.fG:. mills
upon each and every dollar valuation for assessment of aU properties within the Town of
Fraser for the year 1997.
SECTI4>N 3. That the Clerk is hereby authorized and directed to immediately certify to
the Grand County Commissioners, of the County of Grand, the mill levies for the Town
of Fras~r as herein above described and fixed.
DULY MOVED, SECONDED, AND ADOPTED THIS DA Y OF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest:
TOWNjCLERK
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TOWN OF FRASER
RESOLUTION /~
A RESOLUTION APPROPRIATING SUMS OF MONEY TO VARIOUS FUNDS AND
SPENDING AGENCIES, IN THE AMOUNT AND FOR THE PURPOSE AS. SET FORTH
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BELOW, FORt THE TOWN OF FRASER, COLORADO FOR THE BUDGET YEAR 1997.
WHEREAS, the Board of Trustees of the Town of Fraser has adopted the'annual budget in
accordance wi~h Colorado's Revised Statutes on~; and
;
WHEREAS, tbe Board of Trustees have made provisions therein for the revenues in an equal
amount or gre~ter than the total expenditures as set forth in said budget; and
WHEREAS, it is not only required by law, but necessary to appropriate the revenues provided in
the budget to apdfor the purposes described below, so as not to impair the operations of the
Town of Fraser, Colorado;
NOW. THE~FORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE TOWN
OF FRASER, COLORADO:
SECTION 1. The following sums of money are appropriated from the revenues
provid~d of each fund, for the purposes stated: Z, l '''. '*7
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!General Fund I 34' 1~3 + 30000 2..3,000... ,23,.38<<f':'!1 Wi, 3"0-
iWater Fund Z2..l,lf""fQ
Conservation Trust Fund f( rw-' 3./~
.,-=, --
Developers Trust Fund -0'''''-
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SECTION 2. Any and all year end fund balances shall be considered a "reserve increase"
and thqrefore part of the 1997 fiscal year spending, within the meaning of article X,
sectionI20(2)( e) of the Colorado Constitution.
DULY MOVED, SECONDED, AND ADOPTED THIS DAYOF DECEMBER, 1997.
TOWN OF FRASER
By:
Mayor
Attest: i
Town cplerk
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.98 Proposed Budget: 11/26/97 .
GRANTS & TRANSPORTATION
H__.___~__._ ._~_ ... .. ---1- . --y-- - --- .---..-----..----. "'---- -,- -. -- ------
--- _._--_.~_.~--- --_.~- ----.---. -----------.
--- 95 Actual 96 Actual 97 est rea.u~sts
98 pro
G:-C.--Historlcaf------- --------~- ._-- -- - -- -, . .. ..." n.. _ ___.0 _ .
. --- -
157 0 0
1850 2500
~---------_ __~___u_ I--------._~- _____u____ ---._---
--
158 Recycling 4060
4200 5150 6398
- - ------.--- ~._-- .---.------- ~- ---
159 Chamber of Commerce 28132 28391
30310 27632 27632
~ ---~-_._- -'-- -------~
-.'------- --~----. ----- . '--
160 Chamber Events 7000 2500
6150 4000
f---------. CemeteriJ-==~==:~ -.---.--..---.-.----- _..__._._~--- ------.--..-....------. -
-~--_.__._--_._. --- - -------_.--- ~--~-----.---...-
161 1000 0
0 0 0
---._._---~-------- ------ ------~,_._--_._-- ------
--
162 Railro~d Days ___ 475 0
0 0 0
- --------- ----_._-~- - - --...------ -.- ----- -------
---~---- -------
164 He Bus. Dev. Clr. 600 150
450 500
f-------- ------.------.---..---- ---'--- _._-----._---~---. ----~_._------ ..__._ _._._h.___~~..__._~
---.-.------- -_.~._--..__._---~ -----
165 Mercy Hou~~ng 30000
0 0 0 0
-- ~-------- .-----.-----
1-----
166 Arbor ~ 0
0 150 200
--"-- ~._----~
-.---
167 Li~rary District 0
7500 6575 16140 16140
-- -_.~-- -.------- f------
168 Recreation District 0
2500 0 4000 4000
-- -------..--
-------._-- -.-- -~~-_..
169 Fraser'Valley trails 0
0 500 0 0
f--------.------ ---------.--- ------.--.----- -.
------"".- --
170 Headwater Trails 0
750 1500 6500 6500
-----.-- .._~---~ ------~---
-----
171 Grand 'Cache 0
300 475 1000
-- ~------- ~-_.._---- -------.-- -.-.---..-
------ -..---------'-..--. ~._-~-_.
Education Foundation 0 0
0 5000
E- -----~--.- I----------~-
-------'--- f--_.- ----
Grand Futures 0
0 0 200
SmartShuttle . -- -~-- ----. -----~----_.
-_.---------------~
-~ 0 750
750
~-------
--
Horseman's Association 0 0
1500 2000
-~----- --
172 Coun_cilon ~ing 0
0 365 500
-~---
173 Land Conservancy 0
200 965 3000 1200
.------ f--------- --
----
174 ContingencL___ 0 2750
2949 0
-------.------ -..-----...-- --
----- 1-----
175 Subtotal 71267
49241 59639 80320 68640
-- ~'----- r-------
--
Transportation ._.~ --~-._-_.__._-_..- ------.- ----------
----_.- ----~--
176 Night Shuttle 50137
53043 57850 53223 53223
--------~ ~-------- -~-----'----- ~
177 Day Shuttle 9000
9000 10000 10000
---- -~._- ~-_.~----~-~_. -_.~.._--~. ---..---.
------- f-----
178 Summer Shuttle 2920 2983
3387 3438 3438
Subtotal --.---- ------- -------
----------- -- 66661 56661
179 62057 65026
71237
-- ~---
tgf~~j.~RANt~&.tMNspcnttAfION 133324 114267>130818
141~81 .........<1~~361
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Page 1
NOV-25-97 TUE 14:26 . . P.02
Geo.rge K. Baum& Company
INVESTMf:NT BANKERS
MEMRl\R 717 Sl;vENTltelllll 1; rREU
N$W YORK eTOOK EX(lHANl:',f. IN(l SVITI! 2600
CHICAGO nOCk I;XCI1ANm:, INe OllNVER. COlORAOO 80202
TeU!PIlONl! ('03) :ZU.I800
To: ~uck Reld, Manager, Town of Fraser
atherine 'rrofJer, Community Development Director
Fromt Vicki Mattox, Senior Vice presidenl4
Date:
November 25J 1997
Re: flNANCIAL IMPACT OF 'llJE ISSUANCE OF ADDITIONAL
SALES TAX REVENUE BONDS TO FUND A $1,000,000
S'.REET IMPROVEMENT PROJECT
....;..... ,
The T.own currently has $1,050,000 of its 1992 Sales Tax Bonds out.~tanding at an. ave.r.age interest rate
of 7.49%. Interest rates are lower today aIJowing the Town to issue 20 year debt at an average interest.
rate of 5.61 %. Th.e Town will want to refund aU of the extst.ing sales tax bonds that nlay be refunded
when the new bonds ate issued.
We have structured a combined refunding and n.ew money issue that has lower total payment..~ in 1998
and 1999 and level total payment~ thereafter.
A compatison of your existing debt serviC'.e and the proposed debt services follows:
Existing Outstanding
Y~r SJrjes 1992 Bonds After 1998 Bonds
1.998 98,708 144,256
1?99 97,226 147,188
I
2QOO 100,540 199,874
2QOl 98,658 196,256
2Q02 96,730 197,440
2003 99,600 198.085
I
2004 97,273 198,184
2005 99,750 197,911
2d06 96,940 197,458
I
NOV-25-97 TUE 14:26 . . P, 03
,i
(
Ytar Existing Outstanding
Series 1992 Bond, Aft<< 1998 Bonds
2007 98,838 196,878
2008 95,553 195,971
2009 97,085 194,583
2.010 93,435 192,748
2011 94,603 190,590
2012 9S,4{)S 192,970
2013 95,843 194,665
2014 95,915 190J773
2015 95,623 191,408
2016 94,965 196,280
201.7 171,023 267,990
In most yeats this r.esulto; in an inc.rea.'Je in debt service of approximately $97,000 per year tor total annual
payment.~ of approx.imately $197,000. The flnw payment of the issue is larger because the reserve fund
($180,500) for the issue is used to make part of the final payment.
'the elet.'tion question will authorize both tbeissuance of the new sales tax debt and may also modify the
ex.lsting sales tax funded capital improvement fund that is currently used to make payments on tbe sales
tax. reven.ue b()nd~. Change.~ in law due to Ame.r:Jdm.ent 1 have rendered the old sales tax revenue bond
structure obsolete, overly restrictive and unnecessary.
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