HomeMy WebLinkAbout20071516.tiff RESOLUTION
RE: APPROVE A RESOLUTION AUTHORIZING THE ISSUANCE AND SALE OF WELD
COUNTY, COLORADO, REVENUE BOND (NORTH RANGE BEHAVIORAL HEALTH
PROJECT) SERIES 2007, IN A TOTAL PRINCIPAL AMOUNT NOT TO EXCEED
$4,500,000; MAKING DETERMINATIONS AS TO SUFFICIENCY OF REVENUES AND
AS TO OTHER MATTERS RELATED TO THE PROJECT AND APPROVING THE
FORM AND AUTHORIZING THE EXECUTION OF CERTAIN DOCUMENTS RELATING
THERETO
WHEREAS,Weld County, Colorado (the "Issuer"), is authorized by the provisions of the
County and Municipality Development Revenue Bond Act, article 3 of title 29, Colorado Revised
Statutes, as amended (the"Act"), to issue revenue bonds for the purpose of financing projects to
be located within the Issuer for the purposes enumerated in the Act, to enter into financing
agreements with others for the purpose of providing revenues to pay such bonds, and further to
secure the payment of such bonds, and
WHEREAS,the Act provides that title to any project may at all times remain in the name of
the user of the project, and
WHEREAS, North Range Behavioral Health, a Colorado nonprofit corporation and an
organization described in Section 501(c)(3)of the Internal Revenue Code of 1986,as amended(the
"Borrower"),has requested that the Issuer issue its revenue bond in accordance with the Act,such
bond to be designated Weld County, Colorado, Revenue Bond (North Range Behavioral Health
Project) Series 2007 (the "Bond"), the proceeds of which shall be loaned to the Borrower for the
purposes of providing funds to (i)finance the construction and equipping of a 33,000 square foot
office building located at 1300 N. 17th Avenue, Greeley, Colorado (the "Project"), and (ii) paying
certain costs relating to the issuance of the Bond, and
WHEREAS, a Financing Agreement, to be dated as of May 1, 2007 (the "Agreement"),
among the Issuer, the Borrower and Wells Fargo Bank, N.A., a national banking association (the
"Bank") has been submitted to the Board of County Commissioners (the"Board")and filed in the
office of the County Clerk (the "Clerk"), and is there available for public inspection, and
WHEREAS,the Board desires at this time to authorize the issuance of the Bond, for the
purpose of the Project, and
WHEREAS,a public hearing before the Board concerning the proposed Bonds and the
nature and location of the Project is scheduled to be held on May 30,2007,and such public hearing
in accordance with Section 147(f)of the Internal Revenue Code of 1986 will be required as condition
to the issuance and sale of the Bonds, and
WHEREAS,it is necessary or desirable to authorize the issuance of the Bond by Resolution
and to approve the form and authorize the execution of the Agreement.
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RESOLUTION TO AUTHORIZE ISSUANCE OF BONDS(NORTH RANGE BEHAVIORAL HEALTH)
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF WELD COUNTY, COLORADO:
Section 1. Approvals and Authorizations. The form of the Agreement,including the form
of Bond (collectively, the "Issuer Documents") are hereby approved. The
Chair of the Board of County Commissioners or any other Commissioner
and the Clerk or a deputy are hereby authorized and directed to execute the
Issuer Documents and to affix the seal of the Issuer thereto, and further to
execute and authenticate such other documents, instruments or certificates
as are deemed necessary or desirable by bond counsel in orderto issue and
secure the Bond. Such documents are to be executed in substantially the
form hereinabove approved, provided that such documents may be
completed, corrected, or revised as deemed necessary by the parties
thereto in order to carry out the purposes of this Resolution. Copies of all of
the documents shall be delivered, filed and recorded as provided therein.
The proper officers of the Issuer are hereby authorized and directed to
prepare and furnish to bond counsel certified copies of all proceedings and
records of the Issuer relating to the Bond and such other affidavits and
certificates as may be required to show the facts relating to the authorization
and issuance thereof, as such facts appear from the books and records in
such officers' custody and control.
The approval hereby given to the various documents referred to above
includes the approval of such additional details therein as may be necessary
and appropriate for their completion and such modifications thereof,deletions
therefrom, and additions thereto as may be approved by bond counsel prior
to the execution of the documents. The execution of any instrument by the
appropriate officers of the Issuer herein authorized shall be conclusive
evidence of the approval by the Issuer of such instrument in accordance with
the terms hereof.
Section 2. Issuance and Sale of Bond. The Issuer shall issue its Revenue Bond (North
Range Behavioral Health Project)Series 2007,to be in registered form and
to be dated as provided in the Agreement, in a total principal amount not to
exceed $4,500,000, for the purposes, in the forms and upon the terms set
forth in this Resolution and the Agreement, including the form of the Bond as
set forth in the Agreement.
The Bond shall be payable in the manner and to the persons set forth in the
Agreement and the form of the Bond set forth therein.
The maximum net effective interest rate authorized for the Bond shall not
exceed 6% per annum, until the date of maturity.
Section 3. Determinations. It is hereby found, determined and declared, that:
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RESOLUTION TO AUTHORIZE ISSUANCE OF BONDS(NORTH RANGE BEHAVIORAL HEALTH)
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(a) The financing of the Project will promote the public health,welfare,
safety,convenience and prosperity and promote and develop trade
or other economic activity by inducing a non-profit corporation to
locate, expand or remain in the Issuer and the State of Colorado to
secure and maintain a balanced and stable economy for the Issuer
and the State of Colorado.
(b) The maximum amounts necessary in each year to pay the principal
of and interest on the Bond and the interest rate or rates to be borne
by the Bond are as provided in the Agreement.
(c) The payments required in the Agreement to be made are sufficient
to pay the principal of and interest on the Bond when due,and to pay
all other costs required in the Agreement to be paid, including all
sums referred to in paragraphs (b), (d) and (e) of this section.
(d) The Agreement provides that the Borrower shall maintain the Project
in good repair and carry all proper insurance with respect thereto.
(e) The Agreement requires that the Borrower pay the taxes and other
governmental charges with respect to the Project, including taxes
and charges which the taxing entities specified in C.R.S. Section
29-3-120 are entitled to receive, and sufficient revenues for such
purpose are thereby provided.
(f) The Issuer hereby certifies that the reasonably anticipated aggregate
amount of tax-exempt obligations which will be issued by the Issuer
and all subordinate entities of the Issuer during the calendar year
2007(excluding the portion of obligations issued to currently refund
any obligation to the extent the amount of the refunding obligation
does not exceed the outstanding amount of the refunded obligation)
will not exceed $10,000,000. Accordingly, The Issuer hereby
designates the Bond for purposes of Section 265(b)(3)of the Code
as a "qualified tax-exempt obligation."
Section 4. Nature of Obligation. Under the provisions of the Act and the Supplemental
Public Securities Act, constituting Title 11, Article 57, Part 2, C.R.S. (the
"Supplemental Act") and as provided in the Agreement and the Bond, the
Bond shall be a special, limited obligation of the Issuer payable solely from,
and secured by a pledge of,the revenues derived from the Agreement,and
any deed of trust provided by the Borrower. The Issuer will not pledge any
of its property or secure the payment of the Bond with its property. The Bond
and the interest thereon shall never constitute the debt or indebtedness or a
multi-yearfiscal obligation or the financial obligation of the State of Colorado
or any political subdivision thereof, including the Issuer,within the meaning
of any provision or limitation of the Colorado Constitution or statutes of the
State of Colorado,and shall not constitute or give rise to a pecuniary liability
2007-1516
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RESOLUTION TO AUTHORIZE ISSUANCE OF BONDS(NORTH RANGE BEHAVIORAL HEALTH)
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of the Issuer, its agents, employees or officers, or a charge against its
general credit or taxing powers. In entering into the Issuer Documents,the
Issuer will not obligate itself, except with respect to the application of the
revenues derived from the Agreement and the Bond proceeds. The Issuer
will not pay out of its general fund or otherwise contribute any part of the cost
of financing the Project. No costs are to be borne by the Issuer in connection
with the issuance of the Bond. The Agreement provides that all fees and
expenses of the Issuer shall be paid by the Borrower.
Section 5. Bond Printing and Related Matters. The officers of the Issuer are hereby
authorized and directed to arrange for the printing of the Bond,provided that,
subject to Section 3(c) above, the Borrower shall pay for all costs in
connection with the preparation and printing of the Bond and no such costs
are to be borne by the Issuer. The Bond will be purchased by the Bank in
accordance with the Agreement.
Section 6. Bond Resolution Irrepealable. After the Bond is issued,this Resolution shall
constitute an irrevocable contract between the Issuer and the holder(s)of the
Bond and shall be and remain irrepealable until the Bond, both principal and
interest, shall be fully paid, cancelled and discharged.
Section 7. Ratification. All actions heretofore taken by the Issuer and by the officers
thereof or on their behalf not inconsistent herewith directed toward the
financing of the Project and the issuance and sale of the Bond, or the
conduct of a public hearing relating to the issuance of the Bond or the
location and nature of the Project, are hereby ratified, approved and
confirmed.
Section 8. Repealer. All acts, orders, resolutions or parts thereof, taken by the Issuer
and in conflict with this Resolution, are hereby repealed except that this
repealer shall not be construed so as to revive any act, order, resolution or
part thereof heretofore repealed.
Section 9. Other Matters. By the passage of this Resolution,the Board does not intend
to approve, nor is it approving hereby, any matters relating to licensing,
subdivision zoning, planning or landscaping of the Project. Approval of such
matters must be obtained under normal procedures of the Issuer.
Section 10. Severability. If any paragraph,clause,section or provision of this Resolution,
except Section 4 hereof,is judicially adjudged invalid or unenforceable,such
judgment shall not affect, impair or invalidate the remaining paragraphs,
clauses, sections or provisions hereof
Section 11. Effective Date. This Resolution shall be effective immediately.
2007-1516
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RESOLUTION TO AUTHORIZE ISSUANCE OF BONDS(NORTH RANGE BEHAVIORAL HEALTH)
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The above and foregoing Resolution was,on motion duly made and seconded adopted by
the following vote on the 30th day of May, A.D., 2007.
a._T BOARD OF COUNTY COMMISSIONERS
a .W COUNTY, COLORADO
i 4/1 f, t'"'_
I tit.ATTEST: �
}�` ;, it. Long, Chair
Weld County Clerk to the Boar L /
UFl% m . r a Pro- em
BY:\. At : £2i0dar W
F. Garci
A ED F EXCUSED
Robert D. Masden
orney ...---
Douglas ademache
2007-1516
FI0045
rs
CLERK TO THE BOARD
PHONE (970) 336-7215, EXT.4218
FAX: (970) 352-0242
P.O. BOX 758
wimiGREELEY, COLORADO 80632
C.
COLORADO
STATE OF COLORADO)
ss
COUNTY OF WELD )
I, Donald D. Warden, Clerk to the Board of County Commissioners, in and for the County
of Weld, State of Colorado, do hereby certify that the attached copy of Resolution#2007-1516,
authorizing the issuance of Weld County,Colorado, Revenue Bond(North Range Behavioral Health
Project) Series 2007, in the total principal amount not to exceed $4,500,000(the "Bond") is a true
and correct copy thereof as finally enacted,passed,and adopted by the Board at a regular meeting
thereof held at 915 10th Street, 1st Floor, Greeley, Colorado 80631, the regular meeting place
thereof,on Wednesday the 30th day of May,2007;that the original of said Resolution has been duly
executed and authenticated by the signatures of the Board of County Commissioners of the County
and myself, sealed with the seal of the County,and recorded in the Resolution Book of the County;
that a public hearing on the nature and location of the project to be financed with proceeds of the
Bond and on the Bond was held at a regular meeting of the Board on Wednesday, the 30th day of
May,2007,following publication of a notice of hearing in a newspaper of general circulation in Weld
County, Colorado, as evidenced by the affidavit of publication attached hereto; that the attached
constitutes a full,true,and correct copy of the record of the proceedings of the Board at said regular
meeting insofar as said proceedings relate to said Resolution and hearing; that said proceedings
were duly had and taken; and that said meeting was duly held and that the persons were present
at said meeting as therein shown.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of said County
at Greeley, Colorado, this 30th day of May, 2007.
Elle
1 -
361 t O T E : •ARD
;.T t/ I
® ?.� �ti '), V Sri ( tYk
TY C ERK TO THE BOARD
NOTICE OF PUBLIC HEARING
CONCERNING THE ISSUANCE OF
WELD COUNTY,COLORADO
REVENUE BOND
(NORTH RANGE BEHAVIORAL HEALTH PROJECT)
SERIES 2007
PUBLIC NOTICE IS HEREBY GIVEN that a public hearing will be held on May 30, 2007,
commencing at the hour of 9:00 a.m., or as soon thereafter as possible, at ls` floor, 915 10th Street,
Greeley, Colorado 80631 for the purpose of providing a reasonable opportunity for interested individuals
to express their views, orally or in writing, on the issuance by Weld County, Colorado (the "Issuer") of
the above-referenced Bond (the "Bond") and the nature of the project described below which will be
financed through the issuance of the Bond. The Issuer has been requested by North Range Behavioral
Health, a Colorado nonprofit corporation (the `Borrower"), to issue the Bond in an aggregate principal
amount not to exceed $4,500,000 to fund a loan by the Issuer to the Borrower for the purposes of(i)
providing funds to finance the construction and equipping of a 33,000 square foot office building located
at 1121 M Street, Greeley, Colorado (the "Project"), and (ii) paying certain costs relating to the issuance
of the Bond. The Project will be owned and operated by the Borrower.
Interested members of the public are invited to attend the public hearing. Persons desiring to
obtain additional information concerning the Bond or the Project in advance of the hearing should contact
the Issuer at the address shown below.
WELD COUNTY
910 10th Street
Greeley, Colorado 80631
/s/ David Long
By: David Long, Chair, Board of County Commissioners
2007-1516
STATE OF COLORADO )
)ss.
COUNTY OF WELD )
Proof of publication of
Notice of Public Hearing
TICE OF PUBUC NONCERNI GTHEISEIUBNG PROOF OF PUBLICATION
CONCERNING THE ISSUANCE
Of
WELD COUNTY.COLORADO FORT LUPTON
REVENUE BOND
(NORM TM ,BEHAVIORAL STATE OF COLORADO
HECT)
SERIES 2007
COUNTY OF WELD SS.
PUBLIC NOTICE IS HEREBY
GIVEN at public Ilea bl w
commencing
at hour of a.m., or as aeon thereafter as I, Karen Lambert, do solemnly swear that I
Street.° Geneeley`Colorado58063, am the Publisher of the Fort Lupton Press;!
for the purpose of providing a that the same is a weekly newspaper printed
reasonableMerested individuals
for 10 express
thew view,.orally or in wnbng,on and published in the County of Weld, State
Colorade o °rissuer)er County.
thhe of Colorado, and has a general circulation
above-referenced Bag (the
*Bond)and the nature a the therein; that said newspaper has been
project described belowbe financed issuance published continuously and uninterruptedly
of d by Nor h has been
in said county of Weld for a period of more
Behavioral Health, a Colorado
nonprofit corporation (the than fifty-two consecutive weeks prior to the
'Borrower),to Issue the Bond in
an aggregate pnncipal amount not first publication of the annexed legal notice
to exceed 54.500.000 to fund a
loan to the Borrower or advertisement; that said newspaper has
for
finance of ccoons°r"� been admitted to the United States mails as
and
equipping
° bulking located aor a 3U.000 14Uare
1300 second-class matter under the provisions of
N. 17th Avenue, Greeley,
Colorado (the project,. and (a) the act of March 3, 1879, or any
paying certain costs relating to the
of Ste Band.The Pm ect amendments thereof, and that said
WILIIIIS:Borrower. °°°"a°°" newspaper is a weekly newspaper duly
Interested members of the public
are invited to attend the public qualified for publishing legal notices and
rearing. Persons desmng to
obtain additional information advertisements within the meaning of the
mar ng of the heanng BOW or the Project
laws of the State of Colorado. That the
contact low Issuer
at
""address annexed legal notice or advertisement was
WELD COUNTY published in the regular and entire issue of
910 Greeley.Colorado
Street
rado 9063131 every number of said weekly newspaper for
ILDavtl the period of 1 consecutive insertion(s); and
BY David that the first publication of said notice w as
County.Commoarers
Fret Name of Pudon reey 9,17123357
of Publication Fort Lupton in the issue of newspaper, dated 9th day of
Press May, 2007, and the last on the 9th day of
May, 2007.
Publisher. Subscribed and Adorn before me,this the
9th day of May, 2007.
C
" LCp �Ue IC. 11 ° o
OFCOVp
CASE NO. i?' ey 41151
Page 1 of 2
Esther Gesick
From: Don Warden
Sent: Thursday, April 26, 2007 2:32 PM
To: Esther Gesick
Subject: FW: North Range Behavioral Health
Attachments: North Range Tefra Notice.DOC
FYI. Here is the notice for the TEFRA hearing for the North Front range behavioral project. They will have it
published, so we do not have to do anything. Don
From: Jackie Morrison [mailto:jmorrison@kvfirm.com]
Sent: Thursday, April 26, 2007 12:50 PM
To: Don Warden; Bruce Barker; john.rattle@northrange.org; ehren.e.hunter@wellsfargo.com;
Isimons@celaw.com
Cc: bkline@kvfirm.com; john.h.self@wellsfargo.com; Cynthia.M.Slawson@wellsfargo.com
Subject: North Range Behavioral Health
Good afternoon all,
Attached please find the TEFRA notice for the North Range project to be sent to the Ft. Lupton Press on May 4
and published on May 9. Please contact me with any changes no later than Wednesday, May 2. The public
hearing will be held on May 30.
Thank you,
Jackie
Jacqueline L. Morrison
Kline Alvarado Veio, P.C.
1775 Sherman Street, Suite 1790
Denver,Colorado 80203
jmordson@kvfirm.com
O 720.266.4020
C 860.490.8701
F 303.831.1011
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4/26/2007
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