Avon approves Avon Landing bonds, pledges revenues; declares four police vehicles surplus and OKs Civic Center closing

AVON, Colo. — The Avon Town Council on Feb. 27 approved a set of financing and administrative actions tied to local development and town operations, including a bond authorization for the Avon Landing project, a pledge of general-fund revenues to secure lease-rental bonds, authorization for the closing on the Civic Center property purchase, and a resolution declaring four police vehicles surplus and eligible for auction.

The council adopted the Avon Landing bond ordinance — authorizing the Economic Development Commission to issue bonds not to exceed $1,900,000 — and separately approved an ordinance pledging general revenues to back lease-rental payments tied to the Civic Center bonds. Both measures passed by roll-call votes of the councilmembers present. The council also adopted a resolution authorizing the town manager to attend and sign documents at the Civic Center property closing and approved a resolution declaring four police vehicles surplus so they can be sold at auction.

Why it matters: The bond authorization provides local financing capacity for the Avon Landing economic-development project; the revenue pledge is standard underwriter assurance for lease-rental financings tied to the Civic Center project. Declaring older police vehicles surplus lets the town dispose of high-mileage units rather than repairing them, and the council’s closing authorization satisfies a title/escrow company requirement ahead of the Civic Center sale closing.

Town Attorney (counsel) explained the Avon Landing transaction as the final action to allow the Economic Development Commission to issue bonds "not to exceed $1,900,000" and said the EDC found the financing in the town's best interest. The attorney said the bonds are expected to be paid from tax-increment (TIF) revenues and secured by a trust indenture and related financing agreements already reviewed by the town.

Deputy Chief Dave Markison, speaking for the Avon Police Department, told the council the four vehicles recommended as surplus are high-mileage and need extensive mechanical work. "These 4 vehicles are in need of extensive mechanical repairs close to 3 of them close to 10,001 of them close to 7,000," Markison said (verbatim from the meeting transcript). He said the department has five Tahoe replacements on order and that those vehicles are scheduled to arrive in July, earlier than previously expected. Markison also noted that a vehicle declared surplus earlier this week brought $1,400 at auction despite not starting.

The council approved each item by roll call. The motions recorded in the meeting minutes and passed by the councilmembers present included:

- Resolution approving closing of purchase of real estate for the Civic Center (resolution 2025-05). The measure authorizes the town manager to attend a closing and sign necessary documents as required by the title/escrow company. Passed by roll call of councilmembers present.

- Resolution declaring four police vehicles surplus (resolution 2025-06). Passed; vehicles to be sold at auction. Staff noted repair estimates and the replacement vehicles on order.

- Ordinance authorizing Avon Landing economic-development bonds (ordinance 2025-06). The council adopted the final reading authorizing bonds up to $1,900,000, with repayment expected from TIF revenues and secured by a trust indenture. Passed by roll call of councilmembers present.

- Ordinance pledging general-fund revenues to the lease-rental bonds (ordinance 2025-07). The ordinance is the town's pledge of general revenues to make lease rental payments tied to the Civic Center bonds; counsel said the pledge assures underwriters and does not alter the town's constitutional debt-limit accounting. Passed by roll call of councilmembers present.

Legal counsel also reported that the town's most recent annexation became effective that day and that staff had submitted required documents to the auditor.

Councilmembers who participated in the roll-call votes are recorded as Robert Pope, Bill Holland, Jason Puckett and Don Loudon. No roll-call no votes or abstentions were recorded in the meeting transcript for these items.

The council set its next regular meeting for March 13 at 7 p.m., with a work session at 5:30 p.m.