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RESOLUTION
RE: AGREEMENT TO PURCHASE WELD COUNTY LOCAL IMPROVEMENT DISTRICT 1984-1
BONDS.
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado Statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, Weld County has created a local improvement district 1984-1 in
order to construct portions of County Road #5, and
WHEREAS, in order to finance the local improvement district, Weld County
needs to sell ONE MILLION DOLLARS ($1,000,000) of Weld County Local
Improvement District 1984-1 Revenue Bonds, and
WHEREAS, Weld County, in October, 1983, selected as fiscal agents for
Weld County, United Bank of Denver, United Bank of Greeley, and
Prudential-Bache Securities, Anderson DeMonbrun, Inc. Division, and
WHEREAS, Prudential—Bache has agreed to purchase Weld County Local
Improvement District 1984-1 bonds in the amount of ONE MILLION DOLLARS
($1,000,000.00) and the Board of County Commissioners desires to accept the
offer.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County that the Chairman of the Board is hereby authorized to accept, on
Weld County's behalf, the attached agreement of the offer of Prudential-Bache
to purchase ONE MILLION DOLLARS ($1,000,000.00) of Weld County Local
Improvement District 1984-1 Revenue Bonds.
The above and foregoing resolution was, on motion duly made and seconded,
adopted
�b '�ythe following vote on the 2nd day of April, A.D. , 1984.
ATTEST 11L¢ v..Y WELD COUNTY,COLORADO UNTY COMMISSIONERS
Weld County Clerk and Recorder \ --�-r,.,�y,_,
and Clerk to the Board Norman Carlson, Chairman
Y: Ja eli i Johns nc Pro Tem
uty County Clerk
A oved as to form: 'ar1son
ntner
C unty Attorney `7 -
V Martin
840507
Ritot 4.4ie 49. 61 0 `I 6
E em r'S
- •
_ Prudential-Bathe •
Securities
Anderson DeMonbrun,Inc.Division
April 2, 1984
Honorable County Commissioners
Weld County, Colorado
Ladies and Gentlemen:
We are pleased to submit this agreement to purchase the Weld County Local
Improvement District 1984-1 bonds.
Prudential-Bache Securities Inc. hereby offers to purchase the $1,000,000 Weld
County Local Improvement District No. 1984-1 Revenue Bonds. Our offer to
purchase will be at a 4-1/2% underwriting discount and we anticipate selling
the bonds at par at an average interest rate of 9.70%, as illustrated below:
Estimated
Amount Bond Numbers Maturity* Coupon Price
$100,000 1 - 20 6/1/85 7.500% 100
100,000 21 - 40 6/1/86 8.000 100
100,000 41 - 60 6/1/87 8.500 100
100,000 61 - 80 6/1/88 9.000 100
100,000 81 - 100 6/1/89 9.250 100
100,000 101 - 120 6/1/90 9.500 100 •
100,000 121 - 140 6/1/91 9.750 100
100,000 141 - 160 6/1/92 10.000 100
100,000 161 - 180 6/1/93 10.250 100
100,000 181 - 200 6/1/94 10.500 100
*ALL BONDS ARE DUE JUNE 1, 1994. This maturity schedule has been
estimated by the underwriter based on the County's experience and ex-
pectation for assessment collections. However, the amount of bonds
actually redeemed on each interest payment date is dependent upon the
amount of assessments collected by the County each month.
This placement of bonds will be contingent upon receipt of an unqualified legal
opinion verifying the tax-exempt status of the bonds as well as legal authorization
of the bond issue.
•
Prudential-Bache Securities Inc., 5675 So. DTC Blvd., Englewood, Co. 80111 Tel. 303 740-7666
• �� est
Prudential-Bache
Securities
Honorable County Commissioners
Weld County, Colorado
April 2, 1984
Page Two
Endorsement of this letter by the Weld County Commission will signify agreement
on the County's part to sell the bonds to Prudential-Bache Securities Inc. as
described above. Thank you for this opportunity to be of service.
Sincerely,
PRUUL ENTIAL-BBACHE SECURITIES INC.
Fred R. Cornwall
Vice President
FRC:tk
After due consideration, the above agreement is accepted this day of
, 1984, for and on behalf of the Weld County Commissioners, Weld
County, Colorado.
WELD COUNTY, COLORADO
By \
Chairman
ATTEST:Nadwin4eWiliatefr;11
By
unty Clerk
( SEAL )
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