Breach of Fiduciary Responsibility

by   Clayton Moore

Legal Term:  Breach of Fiduciary Responsibility

It’s a legal term that applies to either an Elected or Corporate entity – that has the LEGAL obligation to protect the Financial Interests of their Constituents and/or Stock Holders.

The Avon Town Council has put themselves (by their recent unanimous vote) in legal trouble again.

The Trouble:  Avon Town Council voted Unanimously to hand the Eagle River Fire Protection District (of which Avon is a member) an $830,000.00 “Interest Free” 5 year loan!  This loan granted to the District (by Avon’s Council) to help the District close on a land sale (owned by the District) located in Avon.

Here is Avon Mayor (Jennie Fancher) at Avon Town Council meeting Tuesday, April 21st 2015 demonstrating to Avon Taxpayers – her “Breech of Fiduciary Responsibility”. Video 1 minute 12 seconds.

Mayor Fancher:  “You’re taking from one hand to pay the other hand”

FACT:  The Eagle River Fire Protection District – includes Avon AND all of Cordillera, Arrowhead, Singletree, Edwards/Homestead, Bachelor Gulch, Eagle Vail, Minturn and Red Cliff.

Fact is (now) Mayor Fancher you and your Unanimous Avon Council has voted and forced Avon Taxpayers living in the Avon Trailer Park (Aspen’s Mobile Home Village) – to make an Interest Free ($830,000.00) 5 yr. loan to the folks living in all of Cordillera, Arrowhead, Bachelor Gulch, Singletree…and the rest of the Fire District.

(Photo – Aspen’s Trailer Park – Avon, Colorado)

Avon-Aspens-Trailor-Park-3MAY2015

Video – Mayor Fancher on the loan Amount:  “This money is significantly less than it appears on paper…”

FACT:  Mayor Fancher is not telling you the Truth.  The Truth is…this specific loan amount is written as a “not to exceed amount” in the IGA (Intergovernmental Agreement – Click Here) signed between Avon and the Fire District.  Until the financial sale of the District land is completed, no one will know for sure what the actual amount of that (so called) “bridge loan” will be, Mayor Fancher.  For anyone to suggest otherwise Mayor Fancher – is simply not telling the Truth.

FACT:  Avon Taxpayers should note that this IS NOT the first time Mayor Fancher and the rest of the Avon Town Council – has committed a legal “Breach of Fiduciary Responsibility” – recall the recent $2 Million Dollar “cost overrun” on Avon’s new Music Stage…that the Avon Taxpayer is now responsible to pay (Click Here).  Ultimately and Legally that cost overrun is the responsibility of the elected – Avon Town Council.

FACT:  It is “not the job” of the Avon Town Council – to hand ANY local/legal entity an “Interest Free Loan” for any amount, at any time!  This is unquestionably a violation of the Legal and Fiscal Responsibility of this Council!

Even More Trouble in Avon?  April 30th 2015 – The ECT folks will not (yet) comment about the Avon allegations of Misconduct including (Sexual Misconduct) by the Town Manager (Virginia Egger).   (Click Here 4 page PDF)  ECT will withhold Comment pending the results of Avon’s ongoing investigation into this matter.

Know This:  Until there is a Recall Election in Avon – or specific legal action is filed against these Avon Councilmembers – this kind of “Tax Abuse” against Avon Property Owners – will no doubt continue.

More Juris Doctors owning Property in the Town of Avon – are encouraged to contact the EagleCountyTimes.com

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