HomeMy WebLinkAbout800455.tiff ORDINANCE NO. 67
AN ORDINANCE PROVIDING FOR THE ISSUANCE OF WELD COUNTY, COLORADO
INDUSTRIAL DEVELOPMENT REVENUE BONDS (COLORADO LANDFILL, INC . ,
PROJECT) SERIES 1980 , DATED MARCH 1 , 1980 , IN THE PRINCIPAL
AMOUNT OF $1, 300 , 000 ; AND APPROVING THE FORM AND AUTHORIZING
THE EXECUTION OF CERTAIN DOCUMENTS RELATING THERETO.
O WHEREAS, Weld County, Colorado (the County) , is authorized
by Part 1 of Article 3 of Title 29 , Colorado Revised Statutes
of financing one or more projects , including any land, building
or other improvements and all necessary and appurtenant real or
personal properties suitable or used for or in connection with
disposing of solid waste and 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, by a resolution duly adopted on June 6, 1979 (the
Inducement Resolution) , the County committed itself to issue
such bonds in an aggregate principal amount not to exceed
$1,750 , 000 in accordance with the provisions of the Act and sub-
ject to the terms set forth in the Memorandum of Agreement attached
to the Inducement Resolution as Exhibit A for the purpose of
financing solid waste disposal facilities (the Project) for
Colorado Landfill, Inc . (the Corporation) ; and
WHEREAS, the following documents have been submitted to the
Board of County Commissioners (the Board) and filed in the office
of the County Clerk and Recorder (the Clerk) and are there
available for public inspection:
(a) a Loan Agreement, dated as of March 1 , 1980 (the
Agreement) , proposed to be made and entered into
between the County and the Corporation;
(b) a Trust Indenture, dated as of March 1, 1980 (the
Indenture) , proposed to be made and entered into
between the County and the United Bank of Fort
Collins , N.A. (the Trustee) ; and
(c) a Mortgage Security Agreement, dated as of March 1,
1980 (the Mortgage) , proposed to be made and entered
800455
into between the Corporation and the Trustee; and
eoo'4. 893 I tis TAN 2 8 1980
Recorded at {-------.-.---• o'clock ._. ---M••-----
1815474 7}1C4461aStarld-rj
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Mote of Colorado, Weld County Clark Cr Recorder
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WHEREAS, the United States of America, Small Business Admin-
istration, has committed to issue a guarantee of the obligations
of the Corporation to make loan payments under the Agreement (the
Guarantee) ; and
WHEREAS, the Board desires to issue at this time Weld County,
Colorado, Industrial Development Revenue Bonds (Colorado Landfill,
Inc . Project) , Series 1980 , dated as of March 1, 1980 , in the
principal amount of $1, 300, 000 (the Series 1980 Bonds) ; and
WHEREAS, it is necessary to issue the Series 1980 Bonds by
ordinance and to approve the form and authorize the execution of
the aforementioned documents thereby.
BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF WELD
COUNTY, COLORADO THAT:
Section 1 . Approvals and Authorizations . The forms of the
Agreement, Indenture, and Mortgage are hereby approved. The
Chairman of the Board and the Clerk are hereby authorized and
directed to execute the Agreement and the Indenture and affix the
seal of the County thereto and further to execute and authenti-
cate such other documents , instruments or certificates as are
deemed necessary or desirable by bond counsel in order to issue
and secure the Series 1980 Bonds. Such documents are to be exe-
cuted in substantially the form hereinabove approved, provided
that such documents may be completed, corrected or revised to
conform to the terms of a Bond Purchase Agreement, dated as of
or about January 15, 1980 (the Bond Purchase Agreement) , proposed
to be made and entered into by and among the County, United Bank
of Denver, N.A. (the Original Purchaser) , and the Corporation, or
as deemed necessary by the parties thereto in order to carry out
the purposes of this Bond Ordinance. Copies of all of the docu-
ments shall be delivered, filed and recorded as provided therein.
When executed, the Agreement and the Guarantee shall be assigned
to the Trustee as provided in the Indenture.
The proper officers of the County are hereby authorized and
directed to prepare and furnish to bond counsel certified copies
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of all proceedings and records of the County relating to the
Series 1980 Bonds and such other affidavits and certificates
as may be required to show the facts relating to the authoriza-
tion and issuance thereof as such facts appear from the books
and records in such officers' custody and control or as other-
wise known to them. All such certified copies, certificates and
affidavits, including any heretofore furnished, shall constitute
representations of the County as to the truth of all statements
contained therein.
The approval hereby given to the various documents referred
to above includes an approval of such additional details therein
as may be necessary and appropriate for their completion,
including interest rates and any numbers derived therefrom,
supplied subsequent to the execution of the Bond Purchase Agree-
ment, and such modifications thereto, 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 County herein authorized shall
be conclusive evidence of the approval by the County of such
instrument in accordance with the terms hereof.
Section 2. Issuance and Sale of Bonds. The County shall
issue its Industrial Development Revenue Bonds (Colorado Landfill,
Inc. , Project) Series 1980, dated as of March 1, 1980, in the
total principal amount of $1 , 300 ,000, for the purpose, in the
form and upon the terms set forth in this Bond Ordinance, the
Agreement, the Indenture, and the form of the Bond set forth as
Exhibit A to this Bond Ordinance.
The maximum net effective interest rate authorized for the
Series 1980 Bonds is ten percent (10%) .
The Series 1980 Bonds shall be payable in the manner and
to the persons set forth in the Indenture.
Section 3. Determinations . It is hereby found, determined
and declared that:
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(a) the amount necessary in each year to pay the principal
of and the interest on the Series 1980 Bonds is as follows :
Per Annum Total
Principal Interest Principal and
Year Amount Rate Interest Interest
1981 $ 30, 000 7 . 25% $96, 400 . 00 $126,400. 00
1982 35, 000 7 . 25% 94 , 225. 00 129 , 225. 00
1983 35, 000 7 . 25% 91, 687 . 50 126 , 687. 50
1984 40, 000 7 . 25% 89, 150 . 00 129 , 150. 00
1985 40 , 000 7 . 25% 86, 250. 00 126 , 250. 00
1986 45,000 7 . 25% 83, 350 . 00 128 , 350 . 00
1987 50 , 000 7 . 25% 80, 087 . 50 130, 087 . 50
1988 50, 000 7 . 25% 76 ,462 . 50 126,462. 50
1989 55, 000 7. 25% 72 ,837 . 50 127 , 837 . 50
1990 60,000 7 . 25% 68 , 850 . 00 128 , 850 . 00
1991 65, 000 7 . 50% 64 , 500. 00 129, 500. 00
1992 65, 000 7 . 50% 59 , 625. 00 124 , 625 . 00
1993 70, 000 7 . 50% 54 , 750 . 00 124 ,750. 00
1994 75 ,000 7 . 50% 49 , 500 . 00 124 , 500. 00
1995 80 ,000 7 . 50% 43, 875. 00 123 , 875. 00
1996 85 , 000 7 . 50% 37,875. 00 122, 875. 00
1997 95, 000 7 . 50% 31 , 500 . 00 126, 500. 00
1998 100, 000 7 . 50% 24 , 375. 00 124 , 375 . 00
1999 110,000 7 . 50% 16, 875. 00 126, 875. 00
2000 115 , 000 7 . 50% 8 , 625. 00 123, 625. 00
(b) the amount necessary to be paid into the Reserve Fund
established in Section 3 . 05 of the Indenture is $36 , 000, which
sum shall be paid out of the proceeds of the Series 1980 Bonds
immediately upon receipt thereof but in no event later than
April 1, 1980;
(c) the Agreement provides that the Corporation shall
maintain the Project and carry all proper insurance with respect
thereto;
(d) the Agreement requires that the Corporation pay the
taxes which the taxing entities specified in Section 29-3-120 (3)
of the Act are entitled to receive from the Corporation with
respect to the Project;
(e) the payments required in the Agreement to be made are
sufficient to pay the principal of, interest on, and any premium
due in connection with the Series 1980 Bonds when due and to pay
all other costs required in the Agreement or the Indenture to be
made;
Section 4 . Nature of Obligation. Under the provisions of
the Act, and as provided in the Agreement and the Indenture, the
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Series 1980 Bonds shall be special, limited obligations of the
County payable solely from, and secured by a pledge of, the
revenues derived from the Agreement and shall be further secured
by the lien of the Indenture upon said revenues and by that of the
Security Agreement upon the Project. The County will not pledge
any of its property or secure the payment of the Series 1980 Bonds
with its property. The Series 1980 Bonds shall never constitute
the debt or indebtedness of the County within the meaning of any
provision or limitation of the state constitution or statutes
and shall not constitute nor give rise to a pecuniary liability
of the County or a charge against its general credit or taxing
powers. In entering into the Agreement and the Indenture, the
County will not obligate itself, except with respect to the
Project and the application of the revenues therefrom and bond
proceeds therefor. The County will not pay out of its general
fund or otherwise contribute any part of the Cost of the Project
(as said term is defined in the Agreement and the Indenture) .
Section 5. Bond Printing. The officers of the County
are hereby authorized and directed to arrange for the printing of
the Series 1980 Bonds , including at the option of the County the
printing upon each of the Series 1980 Bonds of a copy of the
approving opinion of Lamm Edstrom & Stowe, P.C. , of Denver, Colo-
rado, bond counsel, duly certified by the Clerk.
Section 6 . Facsimile Signatures. Pursuant to the Uniform
Facsimile Signature of Public Officials Act, Part 1 of Article 55
of Title 11, Colorado Revised Statutes 1973 , as amended, the
Chairman of the Board and the Clerk shall forthwith, and in any
event prior to the time the Series 1980 Bonds are delivered to
the purchaser thereof, file with the Colorado Secretary of State
their manual signatures certified by them under oath.
Section 7 . Bond Ordinance Irrepealable. After any of the
Series 1980 Bonds are issued, this Bond Ordinance shall constitute
an irrevocable contract between the County and the holder or
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holders of the Series 1980 Bonds and shall be and remain irre-
pealable until the Series 1980 Bonds, both principal and interest,
shall be fully paid, cancelled and discharged.
Section 8 . Ratification. All action heretofore taken by
the County and by the officers thereof not inconsistent herewith
directed toward the financing of the Project and the issuance
and sale of the Series 1980 Bonds is hereby ratified, approved
and confirmed.
Section 9 . Repealer. All acts, orders, resolutions , ordi-
nances or parts thereof, taken by the County and in conflict with
this Bond Ordinance are hereby repealed, except that this repealer
shall not be construed so as to revive any act, order, resolution,
ordinance or part thereof, heretofore repealed.
Section 10. Severability. If any paragraph, clause or
provision of this Bond Ordinance is judicially adjudged invalid
or unenforceable, such judgment shall not affect, impair or
invalidate the remaining paragraphs, clauses or provisions hereof .
Section 11. Declaration of Emergency. Due to the lack of
time for the issuance of said Industrial Revenue Bonds and so as
not to jeopardize the issuance of said bonds, the Board of County
Commissioners of Weld County, Colorado, pursuant to Section 3-14 (6)
of the Weld County Home Rule Charter, does hereby declare this
Ordinance to be an emergency ordinance.
The above and foregoing Ordinance No. 67 was, on motion duly
mad and seconded, adopted by the following vote on the 28th day
ofn January, A.D. , 1980.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY COLORADO
ATTEST: `.' `:(e.:. rt ,wt s'. r „1+wJ:'W'' COUNTY,,
Weld County Clerk and Recorder (
and Clerk to the Board- C. W. Kirby, ,Chairman
By 'f�,`° y� 1< �v G I2r.
D pasty Cou?rty lerk i eonard L. Roe /�
APJRQVED AS TO FORM: " ��G� 44 —
Norman Carlson
County Attorney �1� .1
Ly ' Dunbar
ye K. Ste rimark
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EXHIBIT A
(Form of Coupon Bonds)
UNITED STATES OF AMERICA
WELD COUNTY, COLORADO
INDUSTRIAL DEVELOPMENT REVENUE BOND
(COLORADO LANDFILL, INC. PROJECT)
SERIES 1980
No. $5 , 000
THE COUNTY OF WELD, STATE OF COLORADO, a body corporate and
politic and a political subdivision duly organized and existing
under the Constitution and laws of the State of Colorado (the
"Issuer") , for value received, promises to pay to bearer, from
the source herein described but not otherwise, on March 1, 19
upon the presentation and surrender hereof at the principal
office of the United Bank of Fort Collins, N.A. , Fort Collins,
Colorado, as Trustee or at the principal office of its successor
in trust (the "Trustee") under an Indenture of Trust dated as of
March 1, 1980 (the "Indenture") , by and between the Issuer and
the Trustee, the sum of FIVE THOUSAND DOLLARS ($5 , 000) in lawful
money of the United States of America, and to pay, from such
source, interest on said sum from the date hereof at the rate
of per centum ( %) per annum,
payable semi-annually on March 1 and September 1 of each year,
comtuencing on March 1, 1981, until payment of the principal
hereof has been made or provided for upon presentation and surrender
of the annexed coupons as they severally become due.
This bond is one of an authorized issue of bonds of the
Issuer in the aggregate principal amount of $1, 300 ,000 (the "Bonds")
issued for the purpose of financing land, a building and equipment
within the Issuer (the "Project") to be owned and operated by
Colorado Landfill, Inc. , a Colorado corporation (the "Company") .
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The proceeds of the Bonds (exclusive of accrued interest) will
be loaned (the "Loan") to the Company to pay the cost of financing
the Project, including payment of all or a portion of the
interest on the Bonds during the acquisition, construction and
installation of the Project, and incidental costs and expenses
incurred in issuing the Bonds. Under the terms of a Loan Agree-
ment dated as of March 1, 1980 (the "Agreement") between the
Issuer and the Company, the Company is obligated to repay the
Loan by paying to the Trustee for the account of the Issuer
monies sufficient to pay the principal of, premium, if any, and
interest on the Bonds. This bond is payable solely and only from
and out of the revenues derived by the Issuer pursuant to the
Agreement. The Bonds are issued under and are equally and ratably
secured and are entitled to the protection given by the Indenture.
The Series 1980 Bonds and the payment of the principal of,
interest on, and any premium due in connection with the redemp-
tion of the Series 1980 Bonds have been further secured by a
Mortgage and Security Agreement, and certain other Security Docu-
ments as defined in the Agreement all dated as of March, 1980,
between the Company, as debtor, and the Trustee, as secured under
Subsection 5. 01 (a) of the Agreement have been guaranteed by the
United States of America, Small Business Administration, pursuant
to a Guarantee.
The financing of the Project has been authorized by an
Ordinance duly adopted by the Board of County Commissioners of
the Issuer pursuant to the laws of the State of Colorado and
the home rule charter of the Issuer. This bond and the interest
coupons attached hereto shall never constitute the debt or
indebtedness of the Issuer within the meaning of any provision
or limitation of the Constitution or statutes of the State of
Colorado, or of any home rule charter of any political subdivision
thereof, including the Issuer, and shall never constitute nor
give rise to a pecuniary liability of the Issuer or a charge
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against its general credit or taxing powers . Neither shall the
Series 1980 Bonds and interest coupons constitute the debt or
indebtedness of the United States of America or any agency thereof.
Reference is hereby made to the Indenture and all indentures
supplemental thereto for a description of the revenues pledged,
the nature and extent of the security, the rights, duties and
obligations of the Issuer, the Trustee and the holders of the
Bonds and coupons, and the terms and conditions upon which the
Bonds are, and are to be, secured.
The Bonds are subject to mandatory redemption on any date
in whole if (a) a Determination of Taxability (as defined in the
Agreement) occurs with respect to the Bonds , or (b) as a result
of any changes in the Constitution of the State of Colorado or
the Constitution of the United States of America or of legisla-
tive or administrative action (whether state or federal) or of
any final decree, judgment or order of any Court of administra-
tive body (whether state or federal) , the Agreement becomes
void or unenforceable or impossible of performance in accordance
with the intent and purpose of the parties as expressed in the
Agreement, or (c) all or substantially all of the Project shall
have been damaged or destroyed or there occurs condemnation of
all or substantially all of the Project or the taking by eminent
domain of such use or control of the Project as in each case
renders the Project unsatisfactory to the Company for its intended
use and the Company has not elected, as expressed in a certificate
delivered to the Trustee within 120 days after the occurrence of
such event, to rebuild or restore the Project. Upon the occurrence
of any of the events specified in this paragraph, the Bonds shall
be redeemed at a redemption price equal to % of the principal
amount of the Bonds redeemed, and accrued interest on the Bonds
to the date of redemption.
Bonds maturing on or before March 1, 1990 , are not subject
to optional redemption prior to maturity. Bonds maturing on or
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after March 1, 1991, are subject to redemption prior to maturity
at the option of the Issuer (on the request of the Company) ,
on March 1, 1990, and on any interest payment date thereafter,
in inverse numerical order, upon the payment of par, accrued
interest and a premium of 2% of the principal amount so redeemed.
In the case of every redemption, the Trustee shall cause
notice of such redemption to be given by: (i) publication at
least one time in a financial newspaper published and of general
circulation in the financial community in Denver, Colorado, not
less than 30 nor more than 45 days prior to such redemption date
and (ii) mailing a copy of the redemption notice by first class
mail to the original purchaser of such Bonds not less than 30
nor more than 45 days prior to such redemption date. If all of
the Bonds to be redeemed are at that time held by the original
purchaser thereof, such notice may be by mailing only in the
manner specified in the preceeding sentence. Failure to give
such notice by mailing to the holder of any Bond designated for
redemption, or any defect therein, shall not affect the validity
of the proceedings for the redemption of any other Bond. Any
notice mailed as provided in this subsection shall be conclusively
presumed to have been duly given, whether or not the owner
receives the notice. Each notice of redemption shall specify the
date fixed for redemption, the Bond or Bonds to be redeemed,
the redemption price, the place or places of payment, that payment
will be made upon presentation and surrender of the Bonds (and
all unmatured coupons appertaining thereto) , that interest accrued
to the date fixed for redemption will be paid as specified in
said notice, and that on and after said date interest thereon will
cease to accrue. If less than all the outstanding Bonds are to
be redeemed, the notice of redemption shall specify the numbers
of the Bonds to be redeemed.
The holder of this bond shall have no right to enforce the
provisions of the Indenture or to institute action to enforce the
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covenants herein, or to take any action with respect to any event
of default under the Indenture, or to institute, appear in or
defend any suit or other proceedings with respect thereto, except
as provided and limited in the Indenture. In case an event of
default under the Indenture shall occur, the principal of all
the Bonds at any such time outstanding under the Indenture may
be declared or may become due and payable, upon the conditions
and in the manner and with the effect provided in the Indenture.
The Indenture provides that such declaration may in certain events
be waived by the Trustee or the holders of a requisite principal
amount of the Bonds outstanding under the Indenture.
To the extent permitted by, and as provided in, the Indenture,
modifications or amendments of the Indenture, or of any indenture
supplemental thereto, and of the rights and obligations of the
Issuer and of the holders of the Bonds may be made with the
consent of the Issuer and in certain instances of not less than
two-thirds in aggregate principal amount of the Bonds then out-
standing; provided, however, that no such modification or amend-
ment shall be made which will affect the terms of payment of the
principal of, premium, if any, or interest on any of the Bonds,
which are unconditional. Any such consent by the holder of this
bond shall be conclusive and binding upon such holder and upon
all future holders of this bond and of any bond issued in replace-
ment of this bond upon its loss or destruction whether or not
notation of such consent is made upon this bond.
It is hereby certified, recited and declared that all acts ,
conditions and things required to exist, happen and be performed
precedent to and in the execution and delivery of the Indenture
and issuance of this bond do exist, have happened and have been
performed in due time, form and manner as required by law.
This bond and the coupons attached hereto shall not be
entitled to any benefit under the Indenture or any indenture
supplemental thereto, or become valid or obligatory for any pur-
pose until the Trustee shall have signed the certificate of
authentication hereon.
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IN WITNESS WHEREOF, the County of Weld, State of Colorado,
has caused this bond to be executed with the facsimile signa-
ture of the Chairman of its Board of County Commissioners, and
sealed with a facsimile of its corporate seal and to be manually
countersigned and attested by its Clerk and Recorder, has caused
the interest coupons attached hereto to be executed by the
facsimile signature of the Chairman of its Board of County Com-
missioners, and this bond to be dated March 1, 1980.
( S E A L ) COUNTY OF WELD
STATE OF COLORADO
(Facsimile Signature)
By: (Do Not Sign)
Chairman, Board of County
Commissioners
COUNTERSIGNED AND ATTESTED:
(Manual Signature)
By: (Do Not Sign)
County Clerk and Recorder
(END FORM OF BOND)
(FORM OF TRUSTEE' S CERTIFICATE OF AUTHENTICATION)
This is one of the Bonds described in the within mentioned
Indenture of Trust.
as Trustee
By:
Authorized Officer
(END OF FORM OF TRUSTEE' S CERTIFICATE OF AUTHENTICATION)
(FORM OF INTEREST COUPON)
No. $
March
On the first day of September, 19 , the COUNTY OF WELD,
STATE OF COLORADO, (unless prior to the due date of this coupon
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the bond to which this coupon appertains shall have been duly
called for prior redemption) , will pay to bearer, subject to the
provisions of the Indenture and upon presentation and surrender
of this coupon at the principal office of the United Bank of
Fort Collins, N.A. , Fort Collins, Colorado, as Trustee, or at
the principal office of its successor in trust, the amount shown
hereon, as provided in, and being semiannual interest then due
on, its Industrial Development Revenue Bond (Colorado Landfill,
Inc. Project) , Series 1980 , numbered
COUNTY OF WELD, STATE OF COLORADO
(Facsimile Signature)
By: (Do Not Sign)
Chairman
Board of County Commissioners
(END OF FORM OF INTEREST COUPON)
PUBLISHED: JANUARY 31, 1930 in the Platteville Herald
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Affidavit of Publication •
AN ORDINANCE PROVIDING FOR THE ISSpANCE'OF WELD
STATE OF COLORADO. COUNTY, COLORADO INDUSTRIAL DEVELOPMENT REVENUE
ss. BONDS (COr.6RAD0 LANDFILL, INc., PROJECT) SERIES
County of Weld, 1 1980, DATED MARCH 1, 1980,. IN THE. PRINCI-
PAL ANOINT OF $1,300,000; AND APPROVING TOE FORM
)///
AND AUTHORIZING THE EXECUTION OP CERTAIN D000-
J l� HINTS RSLITIN0 SBBRETO.
I __:,.._>,e,,,--. -_ O.?'F+ Of - 'NHEREAS, Weld County, Colorado )the County), is author-
ized by Part 1 of Article 3 of Title 29, Colorado-Revised Statutes
said County of Weld, being duly sworn, say that 19]3, as amended (the Act), to issue revenue bonds for the purpose
I am publisher of of financing one or more
Ce( ,�.d .✓ projects, includ tag-any land, building or
rY 't"ri" Nf other improvements and all necessary and appurtenant real or
e.Cs "-0 R{E,�-'22.0 de.•L personal properties suitable or used for or in connection with
that the same is a weekly newspaper of general disposing of solid waste and to enter into\financing agreements
circulation and rinted and published in the with others for the purpose of providing revenues to pay such
bonds, and further to secure the payment of such bonds; and
town of -. ,Jr,niL FGg; ≤n2 • WHEREAS, by a resolution duly adopted on June 6, 19]9
in said county and state; that the notice cr aver- (the Inducement Resolution), the County committed itself to issue
tisement, of which the annexed is a true copy. such bonds in an aggregate principal amount not to exceed
$1,750,000 in accordance with the provisions of the Act and has been published in said weekly newspaper
for
/ subject to the terms set forth in the memorandum of Agreement
-_ ConseNtiVe attached to the Inducement Resolution as Exhibit A for the purpose
weekd; that the notice was published in the of financing solid waste disposal facilities (the Project) for
regular and entire issue of every number of said Colorado Landfill, Inc. (the Corporation); and'
newspaper during the period and time of pulpitWIfEREAs, the following documents have been submitted to
the Boaid.of County Commissioners ([he Board) and filed in the cation of said notice and in the newspaper
office of the County Clerk and Recorder (the Clerk) and are there
proper and not in a supplement thereof; ',hat the
available for public inspection:
first publication of said nOLce was contained in (a) a Loan Agreement, dated as of March 1, 1980 (the
the issue of said newspaper bearing date. tthe Agreement), proposed to be made and entered into between the
<; t_ day ofc.,-20:-...14,'".t,-<7-[_ A.D., 19 b <' County and the Corporation: •
and the last publication thereat in the issue of (b) a Trust Indenture, dated as of March 1, 1960
)the Indenture), proposed to be made and entered into between the
said newspaper bearing date, the tv '-3/. duy as. County and united sank of Fort Collins, N.A. (the Trustee):
''---2(1�'-s L[t2,4,$�y) _..-, 19."O ; that the said and lc) a Mortgage'sedurity Agreement, dated as of March 1,
,- 'i_Cn LTa^'.t/c.1Lr Ale._a e•cF 1110 (the Mortgage), propoeed to be made and entered into between
• the Corporation and the Trustee; and
Yet. 40_1(.? 9f'!teC' ,i.--`_... WEEREAS, the Gaited States of America, Stall Business
has been published continuously and uninterrupt- Afministration:has committed to issue a guarantee oi the obliga-
tions of the Corporation to make loan payments under the Agreement
edly during the period of at least fifty-two con-
secutive weeks next prior to the first issue thereof (the Guaranty); and
containing said notice or advertisement above
WESRRAS, the laird desires to issue at this time Weld
County, Colorado, Industrial Development Revenue Bonds (Colorado
referred to; and that said newspaper was at the Landfill, Inc., Project); Series 1959, dated as of March 1,
time of each of the publications of said notice, 1980, in the principal amount of $1,300,000 (the Series 19BD
duly qualified for that purpose within the mean- Bonds); and
ing of an act, entitled, "An Act Concerning Legal WHEREAS, it is necessary to issue the Series 1980 Bonds
by ordinance and to approve the form and authorise the-execution
Notices, Advertisements and Publications, and
the Fees of Printers and Publishers thereof, and of the aforementioned documents thereby.
to Repeal all Acts and Parts of Acts in Conflict BB IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF
WELD COUNTY, COLORADO, PRAT:
with the Provisions of this Act," approved April 7, section 1. Approvals and Authorisations. The forms
1921, and all amendments thereof, and particu- of the Agreement, Indenture, and Mortgage are hereby approved. The
fatly as amended by an act approved, March 30, Chairman of the Board and the Clerk are hereby authorized and
1923, and an act approved May 18 1931. directed to execute the Agreement and the Indenture and affix the
seal of the County thereto and further to execute,and authenticate
.� such other documents, instruments or certificates as are deemed
�J+(.[�' necessary or desirable by bond counsel in order to issue and
Publi ¢r secure the Series 1080 Bends.. Such documents are to be executed
in substantially the form hereinabove approved, provided that such
SubscribedAnad sworn to before me this _f./..__ documents may be completed, corrected or revised to conform to the
day of �G�,, / , A.D., lit terms of a Bond Purchase Agreement, dated as of or about Janusnd-- ._._ 15, 1980 (the Bond Purchase Agreement), Proposed to be lade and
h;, / _. entered into n by and among the e orpoa Bank i of wader, N.A.
.�E/F" /�//{�� /� (the Original artis and the Corporation,to, or as tdeemed
necessary by the parties thereto in order to carry out the
//— purposes 0—_ purposes of this Bond Ordinance. Copies of all of the documents
My commission expires L Q« shall be delivered, filed and recorded as provided therein. When
Notary Public executed, the Ag
reement and the Guaranty shall be assigned to the
Trustee as provided in the Indenture.
The proper officers of the County are hereby authorized
and directed to prepare and furnish to bond counsel certified
copies of all proceedings and records of the County relating to
the series 1980 Bonds and such other affidavits and certificates
as may be required to show the facts relating to the authorisation
and issuance thereof as such Facts appear from the books and
records in such officers' custody and control or as otherwise
known to them." All suet; certified copies, certificates and
-+x$featfts;-'4,cluding any`lfeT4t0£oke"furnished, snail constitute '
representations of the County as to the truth of all statements'
contained therein.
The approval hereby given to the various dorwents
_ referred to above includes an approval of such additional details
therein as may be necessary and appropriate foi Chit completion,
including interest rates and any numbers derived therefrom,
"'- --- —_ supplied subsequent to the execution of the Bond Purchase Agree-
ment, and such modifications thereto, deletions Cheretrw and
additions thereto are may be approved by bond counsel prior to the
execution of the documents. The execution of any instrument by
the appropriate officers of the County herein authorized shall be
conclusive evidence of the approval by the County of such instru-
ment in accordance with the terms hereof.
section 6. facsimile slgeaturea. Atursuant to the
uniform Paetish. 8igedtere of Public Officials .Act, Part 1 of
Article 55 of Title 11, Calatado sevised statutes.1973, as seen-
ded, the Chaired,of the Board.-and the Cleft steal f•r1MIN. and
in any event prior to•the.Use the'Setlea`•1956 San ere delivered
to the purchaser thereof.,t,fle with theCclac5,do:Secretary of
State :RnaJ[t:senRO}yy tines •cef tlfied,by t1ed'under oath.
Section 2. Issuance and Sale of Bonds. The County " Se'ctioT ^y re IjiL+�epealMle. *.After,any of
shall issue its Industrial Development Animus Bonds (Colorado the Series 1980 Bonds are lemei • tbti Send Ordinance snot'
Landfill, Inc., Project) Series 1980, dated as of earth 1, coast lute an 3MsvolS►}a.coefreet b•ew•n the County and the
1980, in the total principal count of 51,300,000, [Pr the par-
holder or holdets of tiM Series 110 soedk...and Mali'he and remain.
pose, in the form and upon the terms set forth in this Bond ircepealable ris.111 ibisM; 15901 principal ant
Ordinance, the Agreement, the Indenture, and the fore nf the Bond l befaR}l"•6d'-`
interest, shall he.Sally tiidi'd�i,41 .dAIMIS ait.d.
set forth as Exhibit A to this Bond Ordinance. Seeti. , 0: >E.Ufiestt'tn__.dill Oiled heretofore takes
The maximum net effective interest rate authorised for by the County and by the 9491410$ thereof nets folcensi}Cant here-
the series 1980 Bonds if ten percent (lot), w3N alerted iiM-e- .ynBbf tie K'Lad the issuance
The Series 1980 Bonds shall be payable in the manner and - c,
and Sal of the.069606 ji460 Bonds it Beaevr' 1ifN6. ePp[Oved and
to the persons set forth in the Indenture. conEiredd. '
Section 3. Determinations. It is hereby found, deter- i
seetiedi•9.`0•+ al r. . .4.15.Wylie,-orate,xesolutiwe,
-ed and declared that: oiAiedhee of es Neste[ then 390 , in cpa111Ct
i (a) the amount necessary in nth year to pay NO T. .
principal of and the interest on the Series 1900 Bonds is a with this Both.bLLrrdina 'be t except that Nis
follows: repealer shall 'st be nonetesed en as to revive any art, stair,
Per Annum Total resolution, ;thence,or eMreo[, h t ir• eta"te repealed.
Principal Interest Principal and Serb . It any paragraph. Clone or
Year Amount .Rate Interest Interest
provision of, thi• Meld'Braise**,,r tealelally-adiedged ihealid
1981 $ 30,000 7.25% 895,400.00 $126,400.00 or une forcealtp•' satin Su4fpnt shell not affect. impair •r
1982 35,000 - 7.255 94,22•.00 129,225.00 - y�
1983 35,000 7.25e 91.687.50 126.61).0 invalidate tie ya@•' y clads,•or premixions hereof.
1984 40,000 7.255 89,150.00 129,150.0 "d Y" ,, `v0•"
1985 40,000 7.255 86,256.00 126,250.00 .SOSI�S61 Il+, T„ � ^M hMe Nr IRe
1986 45,000 7.251 53,350.00 128.350.00 •iaaeeRSe at 496 MEd ed OMR TO jeOpXMS
1987 50,000 7.251 50,017.50 Z30,017.50 ,tp1NOMCe � -Coley
i�yEratoethmw was CeW Y H e
1989 55,000 7.251 : 71.537 50 127.537.0 ROIeC6urN{.. 'T s 90i11f iO 0MeryMCy'
1990 60,000 7.230 61.850 00 128,80.00. '
1991 65,000 7.501 64,500:00 129,500.00 " g65e 0•8 611! usl duly•ICBM
1992 65,000 7.36[ 59,625 00 '134,535.00 - day of NIlnrv.
1993 70,000 7.01 50,750 00 126750.00 A 53..1950. t ,.
1994 75,000. 7.01 49,500.99 124,500.00 A.1., 1980 'r F`. ISSIONERf
1995 80.000 .7.509 61,199 0 123.073.00 < ` _�
1994 85,000 7.308 17.558 M 112,875.00 ATytS9 468 YII!n .COLOMBO,
1lN 95,090 0 . 7.850 11.f88. 154,•75.0 �orgnyy 66rof1tC t '• ,t C.W.llairmby
1161 1M,000 1.fM 34.293.10 110.375.61 5MWrYb `e. C qf.Kirby C9airMSs
1199 110,0•0 7.501 16,875.00 136,875.00 ,, L * � -
2000 111,000 7.505 8,625.00 123.625.00 Nf;$F10a11
lb) the amount necessary to es paid late-the.Reserve ._ +•m. men Ca.,sit!
Fund established in Section 3.05 of.the Indenture is 186,00 R.Russell
, Anson .'- x vshDl r
•
which sum shall be paid out of the,Proceeds of the Stelce.190 uwty AHorp�i� ,. ,Y•�• ,- .
Bonds immediately upon receipt thereof-but in no event later than
April 1, 1980; - fi` ': dame-[.Steinman
lux •
Sc) the Agreement provides,Nat the Corporation shall B2) T A
maintain the Project and carry all proper insurance with respect
thereto; a, -.(Tare e mss}
Idi the agreement requires that.the Corporation pay the . leli p t OL AISUdA
taxes which the taxing entities specified in Section 29-3-120131 t- b'9etlf �, . ',n
of the Act are entitled to receive from the Corporation with
1tJYUp 400. 4 tumlaJE 5050.
respect to the Projects '-
1el the payments required in the Agreemenc to fee cede (Ct11R55811 1b4, SIC.,> 02158 1', -
are sufficient to pay the principal of, interest on, and any 6 leap 6
premium due in connection with the-Seriee 1910 Bonds when due and 65.000
to pay all other costs required in the Agreement or the Indenture Thp CtilRTtvSC 1T11»OP",ywyMYOp a Body c poser
to be made, and polield a tali "2 ;,�iBjd'*i�,y;h7�+o'Awl organised and
Section a Nature of Obligation. Under the provisions existing CbBOlitl a _ ""'"�'Ne State of Coloradoter.
(the •Is 0: ter valu 'e1yy err.pe dleea to pay to terser.
of the Act, and provided in the Agreement and the Indenture, from the adrea herein R lint bet,not Otherwise, o earth
the.Series 1960 Bonds shall be a al, limited obligations of the 1, 19 DOOM ti '011X.,111 tali ed{ dettrtr herby[ et. the
pear 9 he 'cod Yint-alf yore Collins x.A.,
ports opal, e.li
County payable solely from, and secured by • pledge of, the Fort uccia ter0•e,•. fse` .9363::x1+ Wndentu office of
revenues derived from the Agre•edat and shall be further secure iced asso amrtrtet N r 0•1 Iven0 betwe„of TruWe
st
dated s of,Recces ALAa . 1e,DO d'>eeveen 001
by the lien of the Indenture upon said revenues and by that of the true and the TOf +• of.. T11011Nit. sad t ay,.iOs
Security Agreement upon the ib lawful.edgy Of the Wtl LL M'w�Wl�3 pay,
Protect. 100 County will not pledge h wuree inq[sst M MS EBB [cot ac the rate
any of its property or secure thent"of the Series 1900 Bonds st r( sus P i' Mdom, pwyeei•
Styr +, glyer,..coyenring
with its property. The caries 1e61 Bons Nall never meaning
of oe Meson .8 RAU't f Mtegf his Mee
the debt or indebtednese-of the,.Ceunty within the meeninl of oe• or l tom
aurNeer of-the
amesed 'as 5MY f
any provision or limitation of the Race constitution or statutes hhrlsed issue of bonds of
and shall not constitute nor give r10• to a pecuniary liability of _ Mid bob is ' OF nt .6.91:1991"°
991O:094 a -09900 3::,Naa
v the
sondgl ikteed'fer - - Siet•Llwelcieg land, a building
powers.County or a ineiin against theh its the Ind or taw In /3'1551 4 to M trend
In entering into the s9rtesmne and Indenture,.the and a rated yC01within'the ;I„In,ct.,.��,a� 5olo�radt corporation
and operated by fTheMdo t „Is tOds`+(Oxel tee of *termed
County will not obligate it ig,,th escape with respect to the (the •
et) Val i the b t-y�g Sway too.V*tauten:
Project and the application Of the revenant therein* and bond inteceof Val 'X' �4.ael yymsnt of all or
general Bete of Llda18 t.a_aoquisi SstS
proceeds therefor. The County will not pay out of /qt 5.
A posers Ypei ym.a2,„4a` `gk.,, a .ire term mats
fund or otherwise Contribute lay wart of the Cott. of the Project • ewvsewea .��, �,� a ynuaA89A{{_ti^tt red s.a
(as said term is defined in.kbe Agreement and the Indenture). • act a a 1961C'ttys Agc panel
Loa A9 , t1�e CoaJmtin s at. :eof he
Section 5. Bond tln9• The officers of the County Mpay � _!,F,'
_ w for the ccocr of th•
[spare LM an, raNum 1$:ens..
are hereby authorised and directed to arrange for the printing of Iesar ea0y15 i r s HY M at16MdTi{r p
the Series 1980 Bonds, including at the option of the County the +110 tab 1 1 - r
re seleiy and only
to the
printing upon each of the Series 1900.Bonds of a copy of the EMS d x� �, ty ae ratably
approving opinion of Lamm Edatron 4 Stove, P.C., of Denver, A9raa0n 4v6' 0•S It the Indenture.
Colorado, bond counsel, duly certified by the clerk. aautN e n v r n
',m�,$T< i , .0•h -t" with itthe
at intnt4 5
rerede+tiaa . w „ �'y[ ether TSG11ity-
I
•
•
LEADER-HERALD wry al,19 _Page 13
;esssate as dented"./t¢that a :. it all dated as of Parch.
esteem busts, M a
-.tr. ei? { ef—t Tit -
To the extent permitted by, and as provided io the
dent
W#eltaee'ape ewe ', a�z Y.5 "'t wattelutto • o[ aatnaeanta of cr
a1 y d tun s PPl neat i ' t and ( reed dome
ob119a r ens of the tsent sod *tits*e bo bothers of tµ 1•
s►dMsteioegtlRlveg6 4sAahb�p� of o/ nee*lases roan et o[ilYre the ]true[ :IT in etTta-Wt�j}1} .
Ywla see,f' fiat r^ a ktauiF" a a paid taheltoth lot of ouesandifew profiYte s liotyeir,t that in,404e
teemse.ss of the 3aone.WtQlnattache.'hetet& shell n 4M-Manuws al Veft!*rF terms*Coarsest of tows'l ahati Da eras Vplcn.trhl+0.Or nett [fie:
Ftirtei gthe state' On a at Cps un ate planet. A . .e M Vnbreet.kin M the arm or atoJtM of. h Mode, ehloh a
ear'Of so fJp t has"charter of any sFoll evernatal SW
ec fY,.,.tale bond hMll'M did tin al. ul%atmnt
e laol leg the.issuer, and shell Meer gMor to + '. `not 1 future s bon of n Itatdd tje_e
*see a pal credit
hell icy of the SaNei des' lithe i le depltnn it*nine MM Is hint and of any peel
' b,esaeral credit or testing pewits, Fsltf)er Shill tM MleMr or rroC eYBtL df M#n s6MeMnae lntr teed or destruct W'
ear 'lands and interest escapadeconstitute the debt at tt 1a Nn6 � Y lees +N!'.udec 6ha Pole$
p # say*piney there- all ette' a conditions and i a aired t ate 8a hat i •e a the United Etacet of AMrtC O[' 'n n"tt rY*d th9 t{ed (a gala,G^r!d t
«• .. t be the:1 dent re a o MY to ow t . ion en de�.
..i seance of Wee Mem,b< . d
anM is. hereto made to the ton of t e and ^Ll'dd
indentures s al:theirete fec• r! ' " k.
..i4
-
NadeN, the r diaG Pelpd`of the rev. -))xtent of t6 decutlty,'Ahe'rights,
end obligations } TaeM6 the tae and•the aolde may •..i • tt n` - w" r
Ponds and.eeupnna 1"+tild three and co ditionif upon elf t' undell IMe t e
o,i tinder, TId r nnlf Y indenaury
Ponds he,',atk an WtN. i. `,< - t 1 ' Gee si sMl3 the a rtitleaA
The Ponds • t to mandatdryTexan
re an on leysta ° rfrs,
in t in whplegreen 1t (•1 a telethon At Texan les deified ill oneness ills how, tale r la the t of %ntl nature a respect to tie e, e[ lb):am Coleman has pus Irks bend tribe P4ety of.lFfhb_hy, 5c51. of• [etude of htty oranges - he the it tut tbf the of Acme to • s t >'be cd my
rl fade or the Cen•tltucioa of itne Unf, d end of Its naiad'be Cate Cie{at'k to
or of 1e9islatthe' 'e0minia Steen oG lath OW < araimila of its eo
lelerall or Of te. judo (rd a of said OW
3Y<o ter¢ gnat and Ile eN rpocatef deal and tote
dos: decree, jado a Cr' Oder of any s 'nt. reeled to 1 to est cuupgwe ♦♦ee a la Fly{e e •eeerde[,'.pia
et torte r seta aderall, the Agreement facsimile signature of tee M NnitA M e9f Coati M'tM
MFoees RRib is or�,,�,aeq�q..alpl of e lo[vans• !p_ ie•ioners end sea, Chairmen of its saogp4 of toynty ow,
•nao[ednae vj. the - t` ad-Weeii" - at sr,
f .1Aad�ae maim'Hatch 1, 3N!#.
theev<d -to • of to lok.all of oyeantie d 'Yll if- •
cWnn the htravrisll destroyed-or there.c t
mote r de,Substantially all pt the rol of t Cree E9aTT,W.Sa11d6esC
the kehing eysthi cps.domain,of Such use or Control the /Reeimils Signature)
h yin each eand • Project unsatisfactory gY, Ilot d
tot,its ihandad the the Seapety hhe not plena,
—`♦<pnm,
es[ a {minty
ea oeptethed in a certificate delivered to the Trustee w11 Commisai'onen
•
130 agar after the oUpon et such event. .N rebuilt eF:
restore the Project,, gran the Owarrence of any of'the et(at CGUtITEAb3 gmE0 AKO AtTl Tiei
sallied in this parr tM"aonde skill by asdeeMO kiss - S!
redemption price eau vtot the principalsmart'bf fee _ IMnual fignetVn)
heeds reclaimed, and tee wiled,-Mena On the Bonds-to-lfM'daerY e%r (Do not
aunty <[ i ' °�•+
redemeton. .. EFOIfM OF TRUSTS E'e CERTIIIKATWOF Ail '_ T Boner maturing on or **fore beta 1, 1990, are This it one of lilt EsmeYdagrlhee(01SWaillael roe
ir
•itOD or Co (srch 1, '991, a e prior ece to redye�mption rior, Trust. _
se aft•r, went LA9 of the Is subject o the'
redemption t tat,
maturity at the option of the Defter Ion interest pryMM se*. Bs thereafter, in interne numerical order, upon Nth ppeint et .a.=
P accrued Internet and a premium of in of dais•Psinetaed - 6,1" ,-""" n-n---.---n.-.--,-.,.
amount so redwood. (END OF FORM OF TRUl�6Eatg*TIAL -0tR�'
In the case of every rtdppti n the Tektite* *pall do fFORMOF/NT S7 COUPON)e AUTilENTfl AT, i '
notice f such redemption to be given by: lit publication at N0
least the to in a financial newspaper published and of ale sgel
op
circulation f the financial coasunity lb Denver, Colorado,SSDe to MOII Ba leMt rah), lg+,es COUNTY
less than 30 or sore then,15 d Yf prior asuch redemtlon See °A COLORADO, F lee'Be teae Se ate was
and fill mailing a copy of the redemption notice by first Glee' Istsellichllbs s...,s tRtm
• l to the original purchases of.such bonds not less the 3d nor • redeivpihdl da is Be. *�e�e
more than 45 days,price_to such redemption date. if'all of the pay M fasePire MHO ld'EIS
bonds to be redeemed are at that t held by`the original VI�I�eIUYIdaM 'NsiefRelNReM terfMeer 01 es
purchaser r thereof, such note y be by ailing only in.*.
CS^^�IMIof, tf DII�eE ERFbN Fes1Cae�111M R,A,manner ye�a[mailing i1 n the e'e[ender f many Bo deeig a give t Ar tea+b t tTdd
Cwt er try iftedto 'tee ha;der of to bond clef dense' for et 1�i Irusl,Nly deem ^��
d pt on any defect therein. small not affect:Ab validity et WiM StalIMM �r al
the wailed o dips f the ti'isgm o c o y other Boni A y niter• fCo/iI
eadilll Iad ��� OI R.^
provided In the sense tio0 shall be conclusively SQ
presimiled tp btte been duly e whether r not the owner re- - i''t2t" a {t• - ,�
c t * the not tech notice Bond
of of-redemption shall deety the CO Ypl<.W;Lw,lTAZ @dt
date fixed for r d apt4pi the Bond or Bonds a be redeemed, the (FeNFO4 ill 1 t P tee the place dr places of payment: that yaen
will h de upon weventit ion and surrender of ebrebotde (wµ{.,akl
unestuted Coupons a{yg tai i.q thereto', that interest inaccrueds to
Incdate fip for redemption will be paid as specifiedd in gape
notice, d that on and Alter said date interest theme tall Nfseµy
to accrue.'If lesa than all the outstanding Bonds are to hit f�ROrDF OF m �1`1
redeemed, the notice f Tedehpt ion shall specify''-.th* umbels-d! IO EM sl1e455Y •
eireiliS
the Bend, to,be redeemed.
.} ,• {{• .
yl f
The holder f: thy: bond snail have no right to em- /
f the provisions of tln' Indenture a to institute cation H
to enforce the covenants; 1 to lake.any aetidnor to
'rated to any event of default ender the Indenture, or t0
t;tut e, appear In taeCl.-f ,d any s le or other-proceedings
U ,peer ih hereto, a,H.t it. provided and limited in the,
indenture. 1 n event f default hr sea Indenture Shell
t principal of alt IRonde•ho et y ck�im uutntandrp'
o - ,
1 the 1 rstIvnturi. may he-deviated or y beynmo IWO and payt
a:lo, upon the ditionr. and in the manner end vill the
effect
provided an the Indenture. The Indenture provides that such
declaration may in certain events be d by the Trustee or
the holders of a requisite principal amount of the Bonds out-
standing under the Indenture. _ _.
Y'
Y
1 t Page 12 LEAD). IERALD January 17, 1980
4 0r
FIRST READING
ORDINANCE-07
Affidavit of Publication AN ORDINANCE PROVIDING FOR THE ISSUANCE'OF WELD
COUNTY, COLORADO INDUSTRIAL DEVELOPMENT REVENUE
BONDS (COLORADO LANDFILL, INC., PROJECT) SERIES
1980, DATED MARCH 1, 1900, IN THE PRINCI-
PAL AMOUNT OF $1,300,100; AND APPROVING THE FORM
STATE OF COLORADO, 1 AND AUTHORIZING THE EXECUTION OF CERTAIN DOCU-
MENTS RELATING THERETO,
ss.
County of Weld, 1 WHEREAS, Weld County, Colorado (the County), is author-
-----., ized by Part 1 of Article 3 of Title 29, Colorado Revised statutes
/ in 1973, as amended ([he Act), to issue revenue for the purpose
_ . `
Of of financing One or mote )rotess, including any bonds for building se
or
other improvements and all necessary and appurtenant real or
said County s of Weld, being duly sworn, say that personal properties suitable or used for or in connection with
I am publisher,of -
, ,aCtecLr1�P{,Y�th2L<c(; disposing of solid waste and to enter t e.engeng agreements
p A with others for the purpose of providing revenues to pay such
2 _,d, l news et 1�.rr ofc general- secure bonds, and further to e e the payment of such bonds; and
that the Same is a weekly WHEREAS, by a resolution duly adopted on June 6, 1979
circulation and printed and published in the (the Inducement Resolution), the County committed itselffoo issue
/,'� � i 'r such in an aggregate principal amount not exceed
town of - uAhe £� accordance with the provisions of the Act and
51,750,000 in
in said county and state; that the notice or odver subject to the terms set forth in the Memorandum of Agreement
• of which the annexed is a true ropy, attached to the Inducement Resolution as Exhibit A for the purpose
has been
been published in said weekly newspaper of financing solid waste disposal facilities (the Project for
for -. --.__.. . / consecutive Colorado Landfill, Inc. (the Corporation); and
WHEREAS, the following documents have been submitted to
weeks; that the notice was pu nushed in the in
the Board of County Commissioners (the Board) and filed the
regular and entire issue of every number of said office of the county Clerk and Recorder (the Clerk) and are there
newspoper during the period and time of pulpit available for public inspection:
cation of said notice and in the newspaper (a) a Loan Agreement, dated as of Marco, „ 1581 'the
proper and not in a supplement thereof; .hat the Agreement), proposed to be made and entered into between t_e
first publication of said nonce was contained in County and the corporation; as
the issue a ofofsainewspapert bearing date thy
lb) a eruct indenter dated f March x960
pp (the Indenture), proposed to Le made a entered ntic. t'.e
2 y A.G.. I9 0 fir) Y of , Collins, ; . v. ..
.,�JJ'� County and United BankFort c IIN.A.A
and the last publication theiCof, in the issue o: and
sa ewspaper bearing dote, the / ! day o: lc) a Mortgage security Agreement, dated e as of March 1,
( 1980 (the Mortgage), proposed to be made and entered into between
• -(Z ) f�n E^- / 19 0��'/' that the said the Corporation and the Trustee; and
✓ 1'-A/WLi? Aut f )q'e, At'{ WHEREAS, the United States of Amer Small Business
° Lit,/ - Administration, has committed to issue a guarantee of the obliga-
tions j � ti t/�X}t/�l e tions of the Corporation to make loan payments under the Agreement
has been published continuously and uninterruterru pt- (the Guaranty); and
edly during the period of at least fifty-two con- WHEREAS, the Boers desires to issue at this time veld
County, Colorado, Industrial Development Revenue Bonds (Colorado
conin weeks i next prior to the first issue (a
Landfill, Inc., Project), Series 1980, dated as of March 1,
• feret said notice as or wspa advertisement above tt amount of 51,300,000 (the series igee
referred to; and that said newspaper was at the 1980, in the principal -
time of each of the publications of said notice Bonds); and
WHEREAS, it is necessary to issue the Series ]9e0 Bonds
duly qualified for that purpose within the mean- by ordinance and to approve the form and authorise the execution
ing of an act, entitled, "An Act Concerning Legal of the aforementioned documents thereby.
Notices, Advertisements and Publications, and BE IT ORDAINED BY THE BOARD OP COUNTY COMMISSIONCes Or
the Fees of Printers and Publishers thereof, and WELD COUNTY, COLORADO, THAT:
to Repeal all Acts and Parts of Acts in Conflict Section 1. Approvals and Authorizations. The forms
of the Agreement, Indenture, and Mortgage are hereby approved. The
with the Provisions of this Act,"thereof,ao and April chairman of the Board and the Clerk are hereby authorized and
1921, and all amendments and 0 x
directed to execute the Agreement and the Indenture and affix the
larly as amended by an act approved. March 30, seal of the county thereto and further to execute and authenticate
deemed
1923, and ct approved May 18. 931. such ry d desirable
instruments or certificatesorder
as that suchtnd
necessary or has uaDla by bond counsel in or aef to and
/� secure the series 1980 Bonds. Such documents to be
/W//'a, aY -- --- -� uted
in substantially the form herein shone approved, provided
Public �/r documents may be completed, corrected or revised to conform to
Subscribed sworn to before me this - tares of a Bond Purchase Agreement, dated as of co ahout st.,ary
15, 1980 (the Bona Purchase Agreement), proposes to be made and
aday of .a.411.-.._..., A.D., 19-O- entered igin by and aser tne County, miter Bank of r)easd N.A.
i�A//'/'�/" �/��.� L//� p (she original Purchaser), and the c pot t + ea
-�''� U GLG.LY_✓_-,IJLa(�-tr_�.U' necessary by the parties the rat r he -
.- purposes de fithisner Bond Ordinance. Copies of 1( t^ d ns
// Q�y/J�q shall be'delivered, filed and recorded provided '. "^'n
My -/(_CI_/ At _ executed, the Agreement and the Guaranty shall be .-. e he
commission expires __
Notary Public .r._tee as pre p is the f indenture. arc ,ut,e.;zed.
The proper officers of the County a � he any :
and directed to prepare and furnish to hood counsel certified
copies Of all proceedings and records of the County relating to
the Series 1980 Bonds and such other aft units and ceni...C rates
red show the facts relating to the aut^oi,.ation as may be required
to
such facts appear from the backs and
and issuance thereof a.. custody and of or as otherwise records in such officers' =u con t,
known to them. All such certified copies, certificates Sad
heretofore i (.tote
includinga .rain.=tied, snail
affidavits, any a tatements
representations of the County as to the truth of all s
contained therein.
•
The approval hereby given to the various documents Section 5. Bond Printing. The officers of the County
referred to above includes an approval of such additional details are hereby authorised and directed to arrange for the printing of
therein as may be necessary and appropriate for theif cospletion, the .Series 1940 bads. including et the option of the County the
including interest rates and any numbers derived therefrom. Printing upeaeach of the series yen Bends of a copy of the
supplied subsequent to the execution of the Bond Purchase Agree- approving opinion of Lass Edstrbai f Store, P.C., of Denver,
Colorado, bond counsel, duly certified by the Clerk.
sent, s such modifications may
approved thereto, deletions therefrom to and additions thereto as nay be by bond counsel. prior to the Section 4. Facsimile Signatures. Pursuant to the
execution of the Rocusente. -The execution of any instrument by Uniform Pacsiml le Vlgnitote et.'public Ott iclala .Act Pee 1 of
the appropriate officers of the County herein authorised shall be Article 55 of Title 11, Colorado Revised Statutes 1973, as amen
conclusive evidence of the approval by the County of such instru- ded, the Chalets:1 of tae Board and the Cloth shall forthwith, end
ment in accordance with the terms hereof. in any event prior teens time the settee 1984 Bonds'are delivered
Section 2. Issuance and Sale of Bonds. The County to time purchaser thereof, file with the Colorado Secretary of
shall issue its Industrial Development Revenue Bonds (Colorado State,their Manual' signatures .cert if led by them under oath.
Section I. Bond Ordinance Irrepeelable. After any of
Land£iin three., lP principal
barite 1980, dated as of March 1, the 1980 $Coda pre issued, this. Bend Ordinance doll
1980, in the total principal amount of 51,300,000, for the pond " s
pose, in the form and upon the terms se[ forth in this Bond constitute an drOtoeable contract between'the County and the
ordinance, the Agreement, the Indenture, and the form of the Bond holder or holders of-the series 1900 Bonds and shell be and remain,
set forth as Exhibit A to this Bond Ordinance. irrepealabIttint$1..the Series 1980 Benda, both principal and
The maximum net effective interest rate authorised for' "tenet, shed; pe"yeitp 00174 dan883'Tve vidd desehar4e4. u .
the Series 1980 Bonds is ten percent (101). - Section 8. letifi��l{teyr'tion: All action heretofore telt*
The Series 1980 Bonds shall be payable in the manner and by the Cpu ty and* the Otetcars thereof not inconsistent len-
to the persons set forth in the Indenture, with directed toward the fisenesne of the Project and the innate
Section 3. Determinations. It is hereby found, deter- and care Of the SeH'ss 1980 bads at.hereby ratified, approved ant
mined and declared that: - confirmed. ,
(a) the amount-un necessary in each year to pay Repealer Section 9. R : All actor, orders, resolutions,
Principal o₹ and the interest on the Series 1980 Bonds is as ordinance- or t,psr ,tnereof taken by the County and in conflict
follows:. - with this Borne mo$tf epel aee are'herdbie rled, escept that this'
Per restm. Total .waler shall not Abe construed etas to.revive any act, Order,
Principal Interest Principal and re
Year Amount Rate Interest Interest resolution, getll6teN or pert thereof, heretofore repealed.-
1981 $ 30,000 7.25% 596,400.00 $126,400.00 _ - Sect on Ile as' erabi)i'ty. 1t any paragraph, 'clause or
1981 35,000 0.25% j 96,125.00 119.235.00 provision ofvethf5 Bpnti Ordinance if judicially ed)udged invalid
1983 35,000 7.250 91,687.50 126,68).50 one t stable r.,�YOh judgment shall not effects impair or
1984 60,000 7.25%% 89,150.00 129,150.00 or �^
1985 60,000 7.25% 86,250.00 126,250.00 invalidate the equating paragraphs clauses or pro ltIdes l!ereof,
1986 05,000 7.25% 83,350.00 138,350.00 *Vet, tb BY tide'Dale ?KtSt8ond'Ordinance. shall
1987 50,000 7.25% 80,087,50 130,087.50 V e '°(5) „a, ,
1988 50,000 7.1N 76,461.50 126,462.50 take effect a 451 days follorling its publication upon final
1989 55,000 7.25% 72,837.50 127,837.50
1980 60,000 7.25% 68,850.00 128,850.00
1941 65,000 7.50% 64,500.00 129,500.00 ?9 P bo rr$1 M4lAna.:*Won motion duly
1992 65,000 7.50% 59,615.00 124,675.00 made amt Brt Inl ptedby the"Po4towanq vote on the 6'day.
1993 76,000 7.50% .. 54,750.00 124,)50.00
'1994 75,000 7.50% 49,500.00 124,560.00 of _--__J____..;0•:—_, A.D., 1980.
1995 80,000 .7.50% 43,875.00 123,875.00
1996 85,000 7.50% 37,675.00 121,675.00 'BDAIOa cenRT. commiSSIONERS
1997 95,000 `7.50% 31,500.00 126,500.00 AT9BSI MELD COUNT; COLORADO
1998 100,000 7.50% 24,375.00 131;575.00
Weld Con U rd aid Recorder
1999 110,000 7.50% 16,075.00 126,875.00 aml Clod' to the hard C.,M. Kirby, Chairman
2000 115,000 7.50% 8,615.00 123,625.66
(b) the amount necessary to be paid into the Resort* Pellet), County Clerk Leonard L."-IR,e'
APfl 1VYn'AS TO Post:
(b) the amount necessary to be paid into the-Ream
:o-.. .Mosta.n Ca<labn
Fund e&tf bliahed in Section 3.05 of the Indenture is 156,000, -
which sum shall be paid out of the proceeds of the Series 1980 County Attorney -
Lydia Dumbed
Bonds liernedlitely upon receipt thereof but in no event later than -. _
April 1, 1980: DATE PRP9PMTVO iitts IBER 31, 1979 'Meet. EteiMuzk. •
PI'1Li511t1. JANUAR?.17, 1960
r (c) the Agreement provides that the Corporation shall EKNIBIT.A
maintain the Project and carry all proper insurance with roper
thereto; (Form o€Coop* Bonds) -
Id) the Agreement requires that the Corporation pay the - UNITED STATES:OF AMERICA -
taxes which the taxing entities specified in Section 29-3-120(3) WELD COUNTY.'COLORADO
of the Act are entitled to receive from the Corporation with
respect to the Project; INDUSTRIAL DEVELOPMENT REYENOE:$OND w
(e) the payments required in the Agreement to be sada (COLORADO LANDFILL, INC. PROJECT)
are sufficient to pay the principal of, interest on, and any SBpT88'190
premium due in connection with the Series 1960 Bonds when due and
to pay all other costs required in the Agreement or the Indenture $5,000
to be made;' -
Section 4. Nature of Obligation. Under the provisions
of the Act and as provided in the Agreement aed the Indenture, Eta COONINFSt fit. STATE OF COLORADO., a body• corporate
the Series 19fi0 Bonds small be special, limited obligations of the and siee ng unlland
thee)pfl*ttfutidn end Ical subdivision
i of the(State of;Cod and
elorado
County payable solely from, and secured by a pledge of, the (the eteirSeet, fdr` gt vel received, promises to pay to bearer,
revenue c derived from the Agreement and shall be further secured from
i b9 ace DDeia dascrbned but not otherwise, on March
1, 19 epee ttHiprfiedtatiod and eureender hereof at the
by the to lien of the Indenture upon said revenues and by that of the Primer ai mfr ce.eit the doiegAttinh et fort'-Coll a R.A.,
Security Agreement upon the Project. The County will not pledge Fort Ce{lins Coleynddi all 4ne,N a ap-tS1 principal office of
its sue able n Suit (the Shoe 3 itder�an Ind< tore of Trust
any of its property or secure the.payment of the Series 1980 Bonds dated es of. M Ch.33 1980 (the. 1 P'i. ay and between!Re
N its property. The Series 1980 Bonds shall never constitute
Issuer ode t9 Teuitee, the'som�.'pl TBOU5AIM1 pOLLARS:;$5.0001
1 lawful ebtin orthe 4nited 5tipf0'a et and to pay from
the debtindebtedness of the County within the meaning of such source n[ereet on said a the date he)aof,at the rate
.
of per 91 4s'$ enhheJ .Pedants
any provision or limitation on of the state constitution or statutes
eniannualy'on Mirth 1 and ne ea he veer, f has been
ng
and shall not constitute nor give rise to a pecuniary liability of on March L }9114 until payment Of the principal hereof has been,
made or'prOVided..for upon presentation and surrender of the
the County or a charge against its general credit or taxing annexed cduppm sa;heytegrally become due.
powers. In entering into the Agreement and the Indenture, the -This bond** 4 one of an s.Wotl rbond;"issue of Don of
County will not obligate itself, except with respect to the the Esaier:Sn StatOgregate '.principa amount of $1.500,000
Project and the application of the revenues therefros and bond (the •sondeml 1esoed for the purpose of financing land, a building
t of .t geneul and egus!f dppL within the Issuer, (the 'Project'1 to be owned
will not pay co
proceeds'therefor. The County and.ePfN4tdF by a5Uns0O W 14.n6 i .n ice.,,a;-Coloreds-eoiWtetten
fund or otherwise contribute any part of the Cost of the Project
(as said term is defined in the Agreement and the Indenture). ., -
tee.,'"
• _5•. oc«a 4! - use
c.
cost o2f tithed t e'.
goat o ng tMG
ee add'•'
•
S s i 4 a fitted by, and as provided 1ea e
To We eaatl permitted e,leif. '' .."7.7.!.''' tbl .,,.ry pi. - - Indenture atISdtsNtw or ea ate,i i of `U Wass
- of any IndMttKe sal t tea, wit o< sipnta and
obis at ion. et pi Y"
-
'i 5 '-
Md n frs
lilt ✓ J.a.-:atl r-a.A wolf n+ottw' lift to FA late_;t}pci :Ike,
lui �dpd�
N limlWP}tt' a ti send ...p#.,sr. s� k e s i z .p.Sui *c '- impels.
etc YintdaMt
set !n Re ) °Any ;thee by
cat .may �. 4 iY de , fWith ►kelle 'upN 1futA-
in.i the De'iieri ' 9D DkS�t el}a toad end of se? bent
lapaitttyy rdY4e • o §c agy., t, '3 ,mow bolder i«l, gay y�. "ihfdd upon itettie':at dente00e}on
• e salt . 121"•1 - �. . 'at po consent is Ostkil.epa. ZAta Wed
tit.Nl\M i�iil►ref A as ir22 1dt,{ adtst'y �I�w ° whether k, le � Rta6 reel tad ar 4--flat.
mat to i,QWt�ntY a 'eft it toots tiona nd"ISO totuitld* (i'd%. ha ■ld
i }' Pb9 t bat.►des sothofti t,, s" be Pa! othed A[acedes to.ink in the a iefft
, TN linen ₹'tta i of eM ind«Wu.trp Boa thu bend 45 S r
ti 4NdNhte raw the t9atha state jt' alai eapa-Da, dw,
_ Iit+et Punu idle a" et
tht Shed X00` 3 u°' �' Sn eiM fo
Kula eha .} o,,Well
Ttii bait dad irl.'s X a-e ,5)-5.
•
• •teat,,, tier with ewer dtitn • the J i, _ .e llr' iw wed to*eouw atteati"es terato`a i dot
�onas , tieetr within U. N'pf .4",...,..-:-.4,, Wet bestir q-e1nder the lndetture or '
11p1t41i0n the w.'r le ch et sMf ,y. r • ,. ,� n��t4 cielke eta valid Or'ib21pit0 Y fir
[No. « «Y!heM coke sMtt+[ '9f -two Teiato )hall have aigited one tern least:
g ,o- .C e'
give
its general Fred s Ot ne ecf l" OS to ltun y! this,
f the Csepste b'ilai3 bt f a!
&grew nolo sods a Shp •its cone d9Jilk1 Mncy stbtt has e«ied thus to to y. eased it .the la
iMMWaass)! Hb+b �. •Na cone=
of the -te :11ster its Wane�£ Q Cowa�'
N 4 v the a a Its'boa corporate-C f tool t3 . Mt'
o the tndentua WP coudterst d el by its Witt and otcOrd 'is.• Reference 2s heat, . deanAbs. intereat coypena each« bed 11$0 W be sn cured the
}ietied. the
eunet ai+dit' eltei. o' s ran
ps 31tit'of;tite i'isi tan of isa land of counfj s+'
ell obb eti nat9 t to K a ' i s al rb secs to lie:daata late»S.- pSC. _
ad Otrd Okas O 3
iaita }�d sod cr .`o b del CetM add+asaaettM�.y�pw.ehkeR So,. { fFr,Li 'a` s. CSC One—OTCOSWAD:-
YAM M. - " • .i.+ „.44,,i- .
The WW1,We sW$aet to bendeteey R '-! lPaeainxlat 9nsisN�
Wu ne whole:if (44 a MN too 9f. ¢,(pn} . ryf ,Renee i
in aw sartsseat):eaapee ka toreal `it M
.• teals of why tonetdr
coiled* or the ;Shit tile49t ot=lha oc'a:tladf�effy al9 4144,6t
et q- leolstatiity fi adakslete, .. t
t+f►aeif e4.t ak sot dy ( fisher
be iniot dtora a hew loth !snit- 1
a s void of the intuit
end is 11i4 35,y lie-lr%oe SY,pn,' .,' -
e aeseaeaea with aht into it soobb a tits parties e[' s V e5 w tt e
pepeMd'in std shall ban bee ds {fe a r 9t WWIroyedi ,{'. -Y. 4 'ik
aei ea.stt sit teen D�tt \ r, 1_ ptll% :.p v' ^
eke#e it of e32 at' did t ., ''
t
melts kW in Bits rots handers Wel"�?h - ..
the Csi«y for.its srt•naad use and the C9ayely bat ew
as **pressed in i e occurrenc delivered to tike Sloe er yy �a ' �i,�
0106.
resters-Myrekt o the- occurrence. of sues ,teat, SS Vale He t Iaa..41�M +ES!'-
[nedtt the flit , ;pet the oeeur{on« 1.,!!!-• + , ��yy�. .�(.
retrapiid in this Oval to a, tMf kW riinci aN ! a"+`d i .".
sw« re 0n redwood,
a teual ni t e! kWprincipal ida. IL91f. .:
lane R4«nw:s.a'aectuad'iSe«wa Oh PddAhdMi
Sons keton on.or before Mich lr 119k. }ti'. - ,
'subject to-Optional redaapt}ed prior to satuelty. Sense ,
on or stts!'lsteh lx 1p>,�3, are subject to teteehttie
sat et the option pt'tio issuer ton et
zpu� 4
C I. on larch 1, IfI0y std OW a}' + �.-•; �,t'. F
tbpreaater, in'inverse nuneti«t order, open the';p" rt
per. wakened SeteYeatterod a prattle'of st4 Sit the d a sea-s +,es anW, .e.a t
•
in Use nese of every refeWptifee the ltus ell
none* Of suet ;edeaptdea el, he wen bye li)') if
twat una site in a tiapapri(gpiel.:a•wepeper..poba'iethtet •Cetera• _— - _ --
lees ahan,30 nor, then 41 days pF#o_ e
+ h --
r et the tdeeet oes te,nil
all ling a t
Wei than 45 days ppreior ft such *Weep;file dsy�. -t.t
Sande to be .tedMied;eve it that keel lie ly We
pets-User thereat...teen notice pay be by w111
seater w cs!bp lielRnpi'.h the pr allefl aa oi adtttt�c: Wile to p£
dsatlddn,'at any.dfectWattle, shaii,net�affeci 2)id e}S
We fossedlngs for the eedepetion Way Th �a;t een. &n
Wit.;w provided tie . ubeedt
dont
t0.
''"Iiiinlitwe hot�Sce, lath notice of r asettio shell • }
tae land or shade to be
•eatMptipa pt Plate--or plans of.: etas
}a c and iu[kt}Wr "abndd
uty't+keb coepasi r.Wee•ininp wMreto!. that&nit l •tp
the sett need tor,r'ed•tptidn will be paid ae"
9ttee,and that on sad-Weer seta Ott int,Fet # w
ll
cease to athlben: if leaf that all,site RHtan&Wp_
redacted, ttt mdse of radeiept(ow shall afy,Ma? ,51
the lanai tc be [edeened.
The holder of this bond Wald'have na..rilbt:,
Inc. the ptovlsiena of the Indentere Or t0 lhatit9 aia4W
to *warn the;..covenants herein. Ar do take any .1 to
respect to.eny.etent of default ender-tli`Inda.-
snetrtute, appt{�.dn or defend any snit hr wirier 'peed
l And lino..
with de red. I t_ e, vent,; is provided,Se
1. Muth. in. « event.of o default easy the i -
reu the primitee sa,all ire lurid t sa tae@ nett
iiiunq r upon%AA cowdittions an be d tin as OT WO
sth•
piovidid rn.terieneeatare. the Weerprovides t et sucehh
fetter w iav asa,{p, apin all nil "
. °
✓' �y, der a. en
. ore.
Hello