TOWN OF GYPSUM, COLORADO ORDINANCE NO. 08 SERIES 2014 AN ORDINANCE AMENDING CHAPTER 3.08 OF THE GYPSUM MUNICIPAL CODE TO DISCONTINUE THE 1% SALES TAX INCREASE SET FORTH IN ORDINANCE NO. 15 (SERIES 2004), THE REVENUES OF WHICH WERE PLEDGED BY ORDINANCE NO. 2005-05 TO PAYMENT OF THE TOWN OF GYPSUM, COLORADO, SALES TAX AND GENERAL FUND REVENUE BONDS, SERIES 2005, WHICH WERE ISSUED TO FINANCE CONSTRUCTION
OF THE GYPSUM RECREATION CENTER WHEREAS, the Town of Gypsum ("Town")

is a home rule municipality duly organized and existing under Articles XX of the Colorado Constitution and the Town's Home Rule Charter effective October 21, 1982; and WHEREAS, the Town adopted, subject to voter approval that was subsequently obtained, Ordinance No. 15 (Series 2004) increasing the Townwide sales tax by 1% (the "Pledged Sales Tax"), the revenues from which were to be used to fund
a Recreation Center and to pay the costs associated with the issuance of bonds used to finance construction
of the Recreation Center; and WHEREAS, the Town adopted Ordinance No. 2005-05 authorizing the issuance of the Town of Gypsum, Colorado, Sales Tax and General Fund Revenue Bonds, Series 2005 in the Aggregate Principal Amount of $8,500,000 (the "Bonds") for the purpose of paying

a portion of the cost of the Recreation Center, and pledged the revenues generated by the Pledged Sales Tax to pay the Debt Service Requirements

on the Bonds; and WHEREAS, pursuant
to Exhibit A attached
to Resolution No. 2014-8 and (the "Certification"),
the Town Manager certified to the Town Council that as of June 1, 2014 sufficient funds generated from the Pledged Sales Tax will have been transferred
to UMB Bank, n. a., as successor
to American National Bank, as Paying Agent on the Bonds, to meet all Debt Service Requirements due under Ordinance No. 2005-05; and WHEREAS, under the terms of Section 5.E., 8.A., and 9 of Ordinance No. 2005- 05 and Section

2 of Ordinance No. 15 (Series 2004) the Pledged Sales Tax is to terminate as soon as **possibl~**after the Certification, and the Town may now terminate the 1% Pledged Sales Tax and discontinue making deposits of the Net Sales Tax Revenues
to the Paying Agent for the Debt Service Reserve Fund established pursuant
to Ordinance No. 2005-15; and WHEREAS, pursuant to Resolution No. 2014-8, the Town Council directed Town staff to take all steps necessary
to discontinue collection of the Pledged Sales Tax and ( 00405256.DOCX

/}draftanordinance to amend the Gypsum Municipal Codetoreflect the discontinuance

of the Pledged Sales Tax; NOW, THEREFORE,

beit ordained bythe TownCouncil ofthe Townof Gypsum, Colorado that: Section
1. Amendment
of Subsection 3.08.080.A of Chapter 3.08ofTitle3of the Gypsum Municipal Code: Subsection 3.08.080.A ofthe Gypsum Municipal Codeis hereby amended
todecrease thesalestaxfromfour percent

( 4%)to three percent (3%)of grossreceipts. Section 2. Repeal of Subsection 3.08.080.B of Chapter 3.08 ofTitle

3ofthe Gypsum Municipal Code: Subsection 3.08.080.B ofthe Gypsum Municipal Codeis hereby repealed
inits entirety

. Section 3. Amendment
of Section 3.08.200 of Chapter 3.08 ofTitle

3ofthe Gypsum Municipal Code: Section 3.08.200 ofthe Gypsum Municipal Codeis hereby amended
todelete Subsection 3.08.200.A andtorenumber Subsections 3.08.200.B and 3.08.200.C

as3.08

.200Aand3
.08.200.B, respectively. Section
4. Public Inspection. Copies ofthis ordinance andthe Gypsum Municipal Codeareavailable for public inspection

atthe officeofthe Gypsum Town Clerk. Section 5. Public Hearing:
A public hearing onthis Ordinance shallbeheldon the26th dayof August, 2014,at 7:00p.m.

atthe Townof Gypsum Town Hall,50 Lundgren Boulevard, Gypsum, Colorado. Section
6.Effective Date.This Ordinance shall become effective
asa permanentOrdinance five (5) days after publication, following final adoption after
a public hearing heldonthe26th dayof August, 2014,at 7:00p.m.,

atthe Gypsum Town Hall,50 Lundgren Blvd., Gypsum, Colorado. Section
7. Severability.

If anyportion ofthis Ordinance,
orthe International Codes amended hereby,
isfoundtobevoidorineffective,

itshallbe deemed severed fromthis Ordinance andthe remaining provisions shall remain validandinfullforceand effect. INTRODUCED, READ AND ORDERED PUBLISHED BYTHETOWN COUNCIL OFTHETOWN OF GYPSUM, COLORADO, UPONA MOTION DULY MADE, SECONDED AND PASSEDATITS REGULAR MEETING HELDATTHE TOWN OF GYPSUM ONTHE5THDAYOF AUGUST, 2014,BYAVOTE OF_ IN FAVOR AND AGAINST. {00405256.DOCX

/}

2**TOWN ~**  By:

..

' Stephen

' M. Carver, Mayor Attest: (00405256

.DOCX /}

3FINALLY ADOPTED, PASSED AND APPROVED ON AUGUST 26, 2014. TOWN OF GYPSUM **By·{_**

**_, ~~**  .**"-s-~'lor;p=let:::n::t~iM;JiO'"".**c"""""'arv..___er..o..:, _..MI<I:Oa"""yo"""r::::::>o=:s-...--== -- Attest:

.r .• '!'• Danette Schlegel, own Cl { 00405256.DOCX

II

4Ad Name:

1 0468425A Customer: Town of Gypsum Your account number is: 1003111 ENtERPRisE ·---·-·"" PROOF OF PUBLICATION STATE OF COLORADO

} }SS. COUNTY OF EAGLE

) I, Pam Boyd, do solemnly S\vear that
I am a qualified representative

of The Eagle Valley Enterprise, that the same weekly newspaper printed,
in whole or in part and published
in the County of Eagle, State ofColorado, and has a general circulation therein; that said newspaper has been published continuously and uninterruptedly in said County of Eagle for a period of more than fiftytwo consecutive weeks next prior to the first publication of the annexed legal notice or advertisement; that said newspaper has been admitted
to the United States mails ac; a periodical under the provisions of the Act of March 3. 1879, or any amendments the reo!: and that said newspaper is a weekly newspaper duly qualified for publishing legal notices and adve1tisements within the meaning of the laws of the State of Colorado. That the annexed legal notice or advertisement was published

in the regular and entire issue of every number of said weekly ncwspaperforthe period of

! consecutive insertions; and that the first publication of said notice wao; in the issue of said newspaper dated 8/2112014 and that the last pub I ication of said notice was dated 8/2112014

in the issue of said newspaper. In witness **whereof~**

I have here unto set m) hand this day. 08/22/20

.14. Pam Boyd Gcnernl Mnnager/Publisher/Editor Engle Valley Enterprise Subscribed and sworn to before me, a notar} public in and for the County of Eagle, State of Colorado this day 08/22/2014.

TOWN OF GYPSUM P.O. Box 130 50 Lundgren Boulevard Gypsum CO 81637 PUBLIC NOTICE This is to g1ve notice that the following Ord•nance wa& approved August 12, 2014 and 1& schadulad lor adophon on August 26, 201• ORDINANCE 2014·08 AN ORDINANCE AMENOING CHAPTER 3.08 OF THE GYPSUM MUNICIPAL CODE TO DISCON· TIUE THE 1•,;, SALES TAX INCREASE SET FORTH IN ORDINANCE NO. 16 (SERIES 2004). THE REVENUES OF WHICH WERE PLEDGED BY ORDINANCE 2005·05 TO PAYMENT OF THE TOWN OF GYPSUM, COLORADO, SALES TAX AND GENERAL FUND REVENUE BONOS, SE· AlES 2005 WHICH WERE ISSUED TO FINANCE CONSTRUCTION
OF THE GYPSUM RECRE· AnON CENTER. The text of this Ordinance

IIi available fer public In· soec1ion
at the olllce ol the Town Clerk, SO Lundgren Blvd ..Gypsum, Colorado Monday th1ough Fuday between the houu; ul 8 00 a.m. and s·oop m. Daro•tte Schley•! Town Clerk **~~~:~~~~t~s~..:'a~J~~·/ ~~~~·~·'••**  Published

In Eogle Valley Enterprise August 21, 2014(10468o425)