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Home My WebLink About840724.tiff AR1991b7o a, O oU ORDINANCE NO. 135 NO. 0 ow AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE o OF WELD COUNTY, COLORADO, INDUSTRIAL DEVELOPMENT o a REVENUE BONDS (GREELEY, LTD. PROJECT) SERIES 1994, "' A IN A TOTAL PRINCIPAL AMOUNT OF $9, 000, 000; MAKING DETERMINATIONS AS TO SUFFICIENCY OF REVENUES AND ao U AS TO OTHER MATTERS RELATED TO THE PROJECT AND a APPROVING THE FORM AND AUTHORIZING THE EXECUTION " ,z OF CERTAIN DOCUMENTS RELATING THERETO. WHEREAS, Weld County, Colorado (the Issuer) , is -crco u authorized by part 1 of article 3 of title 29, Colo. Rev. rs 2 ▪ -' Stat. as amended (the Act) , and by its Home Rule Charter, to N E-r a issue revenue bonds for the purpose of financing projects to w N r4 the end that commercial or business enterprises will locate ko zcr) in the Issuer, to enter into financing agreements with off+ others for the purpose of providing revenues to pay such ua w a bonds, and further to secure the payment of such bonds; and N CO oCN Lf WHEREAS, by Resolution duly adopted on November 13 , 1984 (the Inducement Resolution) , the Issuer committed itself to issue such bonds in an aggregate principal amount not to exceed $9, 000, 000, in accordance with the provisions of the Act, for the purpose of financing a hotel and convention facility (the Project) for August Perez III and Patrick Bajdek (Mr. Perez and Mr. Bajdek and a corporation to be formed the shares of which will be owned by Mr. Perez and Mr. Bajdek being ref -red to collectively -1 - (_ �. ' (/v 84©724 or in the alternative herein as the Obligors) to be located 01 O ° u within the Issuer; and N O v WHEREAS, the Obligors have requested that the Bonds ❑ o w be designated the Weld County, Colorado, Industrial o o a Development Revenue Bonds (Greeley, Ltd. Project) Series v1-co 0 1984, in lieu of the "Perez, Ltd" Project; WHEREAS, the following documents have been submitted to the Board of County Commissioners (the Board) and filed x •cra in the office of the County Clerk and Recorder (the Clerk) m r.) and are there available for public inspection: H H NE" (a) a Loan Agreement, to be dated Decem- w o ber 15, 1984 (the Loan Agreement) , between the Issuer and Nw � w the Obligors; Cr\ t (b) a Trust Indenture, to be dated Decem- aber 15, 1984 (the Trust Indenture) between and among the N O Issuer and United Bank of Denver National Association a lf1N O LC) national banking association with trust powers, acceptable mw to the Issuer and the Company as Trustee thereunder (the Trustee) ; (c) a Promissory Note, to be dated Decem- ber 15, 1984 (the Note) , from the Obligors to the Trustee in the principal amount of $9, 000, 000; (d) a Deed of Trust to Public Trustee, Security Agreement, Financing Statement and Assignment of Rents and Leases, to be dated December 15, 1984 (the Deed of -2- Trust) , from the Board to the Public Trustee of Weld County, 0 Colorado, for the benefit of the Trustee; and rn ' O (e) a Private Placement Agreement, among the ra w Issuer, the Company and United Bank of Denver National o o a Association, as placement agent (the Private Placement .a w a Agreement) ; and O U WHEREAS, the Board desires to issue at this time Weld County, Colorado, Industrial Development Revenue Bonds a (Greeley, Ltd. Project) Series 1984, in the total principal co c.) z amount of $9, 000, 000 (the Bonds) , for the p. dose of H N H financing the Project; and WHEREAS, it is necessary or desirable to issue the o • w Bonds by Ordinance following a public hearing and to approve cr‘ z the form and authorize the execution of the aforementioned 0 U P4 documents thereby. a N o NOW, THEREFORE, BE IT ORDAINED BY THE BOARD OF Lr, m CD LC) H o COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO: m G+ Section 1 . Approvals and Authorizations. The form of Loan Agreement and the Trust Indenture, including the form of Bond, the Note, the Deed of Trust and the Private Placement Agreement are hereby approved. The Chairman of the Board and the Clerk are hereby authorized and directed to execute the Loan Agreement, the Trust Indenture, the Bonds and the Private Placement Agreement and to affix the seal of the Issuer thereto, and further to execute and authenticate such other documents, instruments or certifi- -3- cates as are deemed necessary or desirable by bond counsel rn0 u in order to issue and of Trust) , from the Obligors to the o U secure the Bonds . Such documents are to be executed in O a 0 substantially the form hereinabove approved, provided that o w such documents may be completed, corrected, prepared or ca o revised as deemed necessary by the parties thereto in order r x to carry out the purposes of this Bond Ordinance. Copies of all of the documents shall be delivered, filed and recorded d a or more series, and to be dated as of their date of delivery co c..) Z H or as otherwise provided in the Loan Agreement and the Trust Indenture, in a total principal amount of $9, 000, 000, for o the purposes, in the form and upon the terms set forth in G, • z this Bond Ordinance, the Deed of Trust, the Trust Indenture, � z o the Loan Agreement, and the Private Placement Agreement, U including the form o£ the Bond set forth as in the Trust `OLO 'CO Indenture. o O o r O The Bonds shall be sold to the purchaser thereof mw pursuant to a private placement arranged through United Bank of Denver National Association. The Bonds shall be payable in the manner and to the persons set forth in the Trust Indenture and the form of the Bond set forth therein. The maximum net effective interest rate authorized for the Bonds is twenty percent (20%) per annum. The actual net effective interest rate for the Bonds does not exceed twenty percent (20%) per annum. -4- o, o Section 3 . Determinations . It is hereby found, oU - determined and declared, in accordance with Sections too U a 29-3-113 , 29-3-114 and 29-3-120 of the Act, that: 0 3 ( a) The financing of the Project will promote i- w(,)- 4) the public health, welfare, safety, convenience and prosper- ca o ity and promote and develop trade or other economic activity a by inducing commercial and business enterprises to locate, r-tw expand, or remain in the Issuer and the State of Colorado, m u in order to mitigate the serious threat of extensive H unemployment and to secure and maintain a balanced and — w N H stable economy for the Issuer and the State of Colorado . a w - (b) The maximum amounts necessary in each LSDw Z year to pay the principal of and interest on the Bonds and z the interest rate to be borne by the Bonds are as provided u a in the Trust Indenture and the Private Placement Agreement. N N torn (c) The amount necessary to be paid each year o ui .-r o w into any reserve funds which the Board may deem advisable to establish in connection with the retirement of the Bonds and the maintenance of the Project is $0. (d) The payments required in the Loan Agree- ment to be made are sufficient to pay the principal of and interest on the Bonds when due, and to pay all other costs required in the Loan Agreement to be paid, including all sums referred to in paragraphs (e) and ( f) of this section. -5- (e) The Deed of Trust and the Loan Agreement o O provide that the Obligors shall maintain the Project in good 0o repair and carry all proper insurance with respect thereto . U (f) The Loan Agreement requires that the a o Obligors pay the taxes and other governmental charges which ox the taxing entities specified in Section 29-3-120 of the Act 0 U are entitled to receive from the Obligors with respect to r- x the Project, and sufficient revenues for such purpose are M rix thereby provided. D (g) The estimated period of usefulness of the � z erH Project exceeds the term of the Bonds . N E ti % Section 4. Nature of Obligation. Under the provi- w o VD w sions of the Act, and as provided in the Loan Agreement and rn Z the Trust Indenture, the Bonds shall be special, limited a obligations of the Issuer payable solely from, and secured w � x by a pledge of, the revenues derived from the Loan Agree- N Lf1 M oin ment, the Deed of Trust and the Trust Indenture. The Issuer o r'+ will not pledge any of its property or secure the payment of the Bonds with its property. The Bonds shall never consti- tute the debt or indebtedness of the Issuer within the mean- ing of any provision or limitation of the Colorado Constitu- tion or statutes or the Home Rule Charter of the Issuer and shall not constitute or give rise to a pecuniary liability of the Issuer, its agents, employees or officers, or a charge against its general credit or taxing powers. In entering into the Loan Agreement, the Issuer will not obli- -6- cO o o gate itself, except with respect to the application of the N O V revenues derived from the Loan Agreement and the Bond pro- p o ceeds . The Issuer will not pay out of its general fund or o o a otherwise contribute any part of the Cost of the Project (asin- p said term is defined in the Loan Agreement) . No costs are o r- a to be borne by the Issuer in connection with the issuance of the Bonds.•crwj Section 5 . Bond Ordinance Irrepealable . After the c z Bonds are issued, this Bond Ordinance shall constitute an H \ w cv E" irrevocable contract between the Issuer and the holders of H cn o w the Bonds and shall be and remain irrepealable until the Low Bonds, both principal and interest, shall be fully paid, cn rn z cancelled and discharged. aSection 6. Ratification. All actions heretofore N d taken by the Issuer and by the officers thereof or on their oM 0 VI '" CD behalf not inconsistent herewith directed toward the financ- ww ing of the Project and the issuance and sale of the Bonds, or the conduct of a public hearing relating to the issuance of the Bonds or the location and nature of the Project, are hereby ratified approved and confirmed. Section 7 . Repealer. All acts, orders, ordinances, resolutions or parts thereof, taken by the Issuer 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, ordinance, resolution, or part thereof, heretofore repealed. -7- rn o Section 8. Other Matters. By the passage of this o U Bond Ordinance, the Board does not intend to approve, nor is a) o U ca it approving hereby, any matters relating to licensing, sub- 0 3 division zoning, planning or landscaping of the Project. oZ `f' Approval of such matters must be obtained under normal ov procedures of the Issuer. w ra vi Section 9 . Severability. If any paragraph, clause, ~ a section or provision of this Bond Ordinance, except Section m v 4 hereof, is judicially adjudged invalid or unenforceable, rIz CNw such judgment shall not effect, impair or invalidate the N H a remaining paragraphs, clauses, sections or provisions hereof. o Section 10. Emergency Ordinance; Effective Date . LS) 44 z The Board hereby finds, determines and declares that, as a cr,o r result of changes in the law and the nature of changes in o fX z interest rates, and the desire of the Board to provide more N tf) o01 LO adequate hotel and convention facilities within Weld County, o m 4 adoption of this Ordinance as an emergency ordinance is in the best interest of the Issuer and is necessary for the preservation of the health, safety, welfare and convenience of the Issuer and the people of Weld County, Colorado. This Ordinance shall therefore be in full force and effect from -8- a0 oV 0 m O and after the date of its adoption. Public notice of this a Emergency Ordinance shall be given forthwith after passage. ow 0 INTRODUCED, ADOPTED AND APPROVED this 10thday orz v)-41 of December, 1984. 0 BOARD OF COUNTY COMMISSIONERS ✓ x WELD COUNTY, COLORADO c M � x.crix CO V :(�,} F ' a toyorma Carlson, Chairman ti 2 �a°. F . � E `..:,e r ` .. f+ ,- , cn (SEAL)' ., 4 ``,' ., u ine Jo on, Pro-Tem O .7 iSk� /l� �LC2��J w ATTEST: Gene . Brant r • z ;sy Cnuck Carlson C 4 County Clerk an4/'Recorder Pw'. F. A 0A, 1 227 ',-, ,,,--2-2- Jgtm T. Martin N CO LC) M O ul Ho < -- APP 0 ED AS M: [A Co my Attorney Read and approved December 10 , 1984 Published in the La Salle Leader December 13 , 1984 -9- Commissioner Johnson seconded the motion, and the question being upon the passage and adoption of said Ordinance, and the approval of said Bond issue, the roll was called with the following results: Those voting "AYE" : Commissioners Norman Carlson, Chairman Jacqueline Johnson , Pro-Tem Gene R. Brantner Chuck Carlson John T. Martin Those voting "NAY" : Commissioner Four-fifths of the members of the Board at the meeting having voted in favor of the passage and adoption of said Ordinance and the issuance of the proposed Bonds, the presiding officer thereupon declared the same finally passed and adopted and instructed the County Clerk and Recorder to record said Ordinance in an Ordinance Book kept for such purposes . -10- • Thereupon, after consideration of other business to come before the Board, the meeting was adjourned. Velaut BOARD OF COUNTY COMMISSIONERS ATTEST: atw.T WELD COUNTY, COLORADO Weld County Clerk and Recorder ' -- CE--(440--- and Clerk to the Board Norman Carlson, Chairman -Thl efr4tcr.-4_ 3e_.44 a 2 amine Jo on em D puty County C rk ,en Bran ner (SEAL) ��- Ctck Carlson Jo T. Martin -11- HEARING CERTIFICATION DOCKET NO. 84-75 RE: IDRB, PEREZ LIMITED (SECOND HEARING) A public hearing was conducted on December 10, 1984, at 9:00 A.M. with the following present: Commissioner Norman Carlson, Chairman Commissioner Jacqueline Johnson, Pro-Tem Commissioner Gene Brantner Commissioner Chuck Carlson Commissioner John Martin Also present: Acting Clerk to the Board, Debbie Campbell Assistant County Attorney, Thomas 0. David Director of Finance, Donald Warden The following business was transacted: I hereby certify that pursuant to a notice duly published November 21, 1984, in the La Salle Leader, a public hearing was conducted to consider the issuance of Industrial Development Revenue Bonds for the Perez Limited Project in the aggregate principal amount of $9,500,000 for financing the cost of acquisition and equipping of a hotel and convention facility. Don Warden, Director of Finance, read this matter into the record. He stated that the Board previously had approved an Inducement Resolution for the issuance of these bonds on November 13, 1984, and Ordinance #135 has been established on the issuance of these bonds. Mr. Warden read Emergency Ordinance #135 for the issuance of Industrial Development Revenue Bonds for August Perez III and Patrick Bajdek for financing a hotel and convention facility in the amount of $9,500,000 into the record. (Tape Change #84-136) Commissioner Brantner moved to approve Ordinance #135 on an emergency basis. Commissioner Johnson seconded the motion and it carried unanimously. APPROVED: `TY„_ � BOARD OF COUNTY COMMISSIONERS ATTEST: II a trd WELD COUNTY, COLORADO Weld County Ark and Recorder .y,,,^, _ lam„ and Clerk to the Board Norman Carlson, Chairman (4)714-104to , ( J pep ty County Cler u ine Joh , Pro-Tem Gene R. Bra ner uck Carlson JSfreg2 T. Martin TAPE #84-135 and #84-136 DOCKET #84-79 / , STATE OF COLORADO ss. COUNTY OF WELD I , Mary Ann Fenerstain, County Clerk and Recorder of Weld County, Colorado, do hereby certify that the attached copy of Ordinance No . 135 authorizing the issuance of Weld County, Colorado, Industrial Development Revenue Bonds (Perez, Ltd. Project) Series 1984, in the total principal amount of $9, 000, 000, is a true and correct copy thereof as enacted, passed and adopted by the Board on Monday, the 10th day of December , 1984 at a regular meeting of the Board held at the regular meeting place thereof that the original of said Ordinance has been duly executed and authenticated by the signatures of the Chairman of the Board and myself, as County Clerk and Recorder of the City, sealed with the seal of the County, and recorded in the Ordinance Book of the County; that the foregoing pages constitute 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 Ordinance; that said proceedings were duly had and taken; that said meetings were duly held; that the persons were present at said meetings and the public hearing held on December 10_, 1984, as therein shown; that a Notice of Public Hearing concerning said Ordinance was published in a newspaper legally qualified for County publication, in its issue dated November 21, 1984 as evidenced by the Affidavit of Publication attached hereto at page A; and that notice of said Emergency Ordinance was published forthwith after passage, as evidenced by the Affidavit of Publication attached hereto as page B. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of Weld County, Colorado, this 10th day of December, 1984. \ J 'ry { Ideti- , County Clerk and Recorder Weld County, Colorado (SEAL) B y: Deputy unty rk CERTIFIED RECORD OF PROCEEDINGS OF BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO RELATING TO AN ORDINANCE AUTHORIZING THE ISSUANCE OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS (GREELEY, LTD. PROJECT) SERIES 1984 IN A TOTAL PRINCIPAL AMOUNT OF $9, 000, 000 STATE OF COLORADO ) ) ss. COUNTY OF WELD ) The Board of County Commissioners of the County of Weld, Colorado, held a regular meeting open to the public at 915 10th St. , Greeley, Colorado, on Mon. , the Loth day of December 1984, at the hour of 9 . 00 The following members of the Board, constituting a quorum thereof, were present: Name Title Norman Carlson Chairman Jacqueline Johnson Pro-Tem Gene R. Brantner Chuck Carlson John T. Martin • The following member of the Board was absent: The following persons were also present: Debbie Campbell , Acting Clerk to the Board Thomas O. David, County Attorney -2- • Thereupon, the following proceedings, among others, were had and taken: The County Clerk and Recorder informed the Board that a Notice of Public Hearing was published in the LaSalle Leader in its issue dated November 21 , 1984. The Chairman then declared that the public hearing was open, whereupon the following persons appeared: Don Warden, Weld County Finance Officer Thereupon Commissioner Brantner introduced the following Ordinance, which was read by title, copies thereof having been made available to the Board and the public, and moved that the same be introduced and adopted. -3- HOLME ROBERTS & OWEN 1700 BROADWAY DENVER,COLORADO 80290 TELEPHONE(303) B61-7000 TELECOPPER 861-4578 TELEX 45-4460 December 7 , 1984 Mr. Don Warden P. O. Box 758 Greeley, Colorado 80232 Re: Perez Dear Mr. Warden: nni oc nc }i,c: ,. "e"m"n ... _.- _..........F'.T1CiC1RPf��. Y1lPR¢P flT1f1 .G _-_. _ _ __.,-. ..__-.-. �.-._ _ ._ ., . documents that were sent yesterday. I have als enclosed six copies of the Ordinance. The only changes that have been made are of the Trustee and the dollar a unt of the bonds has been changed to $ 9 , 000, 000 . 00. If you have any qas'tions pose fy. Sincerely, g Nancy M. Hupper Legal Assistant NMH/jw Enclosures (' / L� OTHER OETICES IN COLORADO SPRINGS-SALT LAPSE CITY DENVER TECHNOLOGICAL CENTER • Affidavit of Publication STATE CF COLORADO, ) County of Weld. 3 • Paul Massey of said County of Welt. being duly sworn. say that I am publisher of ' La Salle Leader that the same is a weekly newspaper of general air_ulct:on awe printed cad published in the town of . La Salle in sold tawny end state: that the notice er adver- tisement. of which the annexed is a true copy. hes been published in said weekly newspaper for one XlinentROCe weeks: that the notice was published in the regular and enure issue of every number of said newspaper during the period and lime of pubh cation of said notice and in the newspepe: proper and net in a supple.nent thereat: that the firn publication el said notice was contained m the''{{rL issue is� of said newspaper :satiric date. the _411day of December A.a. 19p�y_ and the lest publication therccf. in Ts issue et stid newspaper bearing date. the day al December , 19 lb; that the said _rte S_iie Tnndpr has been published continuously and =interrupt. idly during the petted of ci least lilty-two con- secutive weeks net prior to the first :sue thereof containing said notice or advertisement above referred lo: and that said newspaper was at the tine of each of the puisticetions of said notice. duly qualified for that purpose within the mean ing of an ac:. entitled. "An Act Concerning Legal Notices, Advertisements and Publications. end the Fees of Printers end Publishers thereof. and to Repeal oil Acts and Pans of Acts in Conflict II with the Provisions of this Act." approved April 7. 1921, and all emend:meets thereat, and particu- larly es amended by an ea! _proved. March 20. lo_Z d an cot May l3. 13.21. Publisher Subscribed call sworn to before roe this 7 � day of _ AJ.- 19 C1,7 My lOmroasian !Spire! . —/ O y Notary Pubic Gkii.ELEY 31 • Weld County Legal Notices ORDINANCE NO. 135 pursuant to a private placement arranged through United Bank of Denver National Association. The Bonds shall be payable P.N ORDINANCE AUTHORIZING TNT ISSUANCE AND SALE OF WELD COMITY, COLORADOX INDUSTRIAL D2TELOAMENT in the manner and to the persons set forth in the Trust REVENUE BONDS (GRZSLEY, LTD. PROJECT) SERIES 1984; IN A TOTAL PRINCIPAL AMOUNT OF $9,000,000; MAKING Indenture and the form of the Bond set forth therein. ' DETERMINATIONS AS TO SUFFICIENCY OF REVENUES AND AS TO OTHER MATTERS RELATAM TO THE PROJECT AND The mastevis net effective interest rate authorized APPROVING THE FORM AND AUTHORIZING THE EXECUTION OF CERTAIN DOCUMHNT3 RELATING THERETO. for the Bonds is twenty percent (20x) per annum. The actual WHEREAS, Weld County, Colorado(the Issuer), is - net effective interest rate for the Bonds does not exceed authorized by part 1 of.article 3 Of title 29, Cele. Rev. . twenty percent (20%) per annum. Section 3. Determinations. It is hereby found, StaC amended (the Act), end by its Rome Rule Charter; to issue revenue.bonds for the purpose o£ financing projects to determ ined and declared, in accordance with Sections 29-3-113, 29-3-114 and 29-3-120 of - e Act, that: the end that commercial or business enterprises will,locate in the Issuer, to enter into financing agreements with (a) The financing o£ the Project will p:'enote the public- health, welfare, safety, convenience and prosper-- others for the purpose b£ providing revenues to pay such bonds, and further to secure the payment of such bonds; and Sty and promote and develop trade or other economic activity WHEREAS, by Resolution duly adopted on Novo@box by inducing commercial and business enterprises to locate, (3 1P 84 (the Inducement Resolution), the.Issuer expand, or remain in the Issuer and the State of Colorado, in order to mitigate the serious threat of extensive committed itself to issue such bonds in an aggregate. principal amount not to exceed $9,000,000, in accordance u.ems loyment and to a e and maintain a balanced and stable economy for the Issuer and the with the provisions of the Act, for the purpose-of financing State of Colorado. (b) The maximum amounts necessary in each • hotel and convention facility (the Project) for August year to pay the principal of and interest on the Bonds and Perez III and Patrick Sajdek (kr. Perez and Mr. Bajdak and,a the interest rate to be borne by the Bonds are as provided corporation to be formed the shares of which will be owned 'Mr. 8a dek bet re[% in the Trust Indenture and the Private Placement Agreement. by Mr. Perez and J being tree to-collectively or in the a.. .native herein as the Oblig ors) to be located (c) The amount necessary to be paid each year einto any reserve funds which the Board may deem advisable to xdthln the Issuer; and - establish in connection with the retirement of the Bonds and WHEREAS, the CEligma have requested H;at the golds be designated the Wald County, Colorado,1e e Industrial the maintenance of the Project is $0. (d) The payments required in the Loan Agree- .Development Revenue Bonds (Greeley, Ltd. Project) Series sent to be made are sufficient to pay the principal of and 1984, in lieu of the ".ever, Ltd" Project; - interest on the Bonds when due, and to pay all other costs WHEREAS, the following documents have been submitted required in the Loan Agreement to be paid, including all to the Board of County Commissioners (the Board) and filed sums referred to In paragraphs (e) and (f) of this section. in the office of the County Clark and Recorder (the clerk) (a). Tlie Deed of Trust and the Loan Ag reement and are there available for public inspection: provide that the Obligors gore shall maintain the Project in good Dac(a)he a Loan ee cement, to been dated Issuer repair and carry all proper insurance with respect thereto. bet 15, 1984 (the Loan Agreement), between the Issuer and - - (f) The Loan Agreement requires that the the Obligors; Obligors pay the taxes and other governmental charges which (b) a Trust Indenture, to be dated Decem- " the taxing entities specified in Section-29-3-120 of the Act bet 15, 1994 (the Trust Indenture) between and among the are entitled to receive from the Obligors with respect to Issuer and limited Sank of Denver National Association a the Project, and sufficient revenues for such purpose are o national banking association with trust powers, acceptable thereby provided. to the Issuer and the Company es.Trustee thereunder (the - Trustee); - (e) The estimated period of usefulness of the £ Project exceeds the term of the Bands. ,aeaseaay eta nano sesee,.Note), Ste. t0.M d5•ted Decem- I- Section 4.- Nature- at 9bti �ti�p. undo rife Prova--.,- bar 15, 1984 (the Note), from the obligors to the Trustee 'in alone of.the Acta and as provided,:an the Gan Agreement end the principal *mount o£ $4,000,000; "3. the,Trust Indenture,+the Bonds Mall,be special, limited_, Id) a Deed of Trust to Public Trustee, ` obligations of the,lapsayable solely from, and secured Security Agreement, IimsRcing Statement and AesigMieet o£ y p-by a pledge o£, the revenWs derived trim;the Loan Agree- 'Rents eat taste/to be d•!etl Dssfmbar_IB, 3996 (th!DeH'e( Trust), from the soerd to the cublic.Tausfee of We in owry.Colorado, for the benefit of the ? ustee, and will not psedge say`itf ate prep./My dr fedmee the payl¢nt of the Linde with its property. The Bo`hda *hill'mew?consti- ( ), a nd private United Ba me t Le runt, sn<'9 C.e tute'he�debt or indebtedness of the Issuer Withih the mean Issuer, the.Company and Sank t£ Tenter National rig of any provision or lisitatlon of the Colorado Constitu- Am 0.tlp as placement agent (the Private Placement • tiort or statutes or the Nome Rule Charter of the Issuer and Agreement); and shall not constitute or give rise to a pecuniary liability WHEREAS, the Board desires to issue at this time of the Issuer, itsagents, employees or officers, or a Weld County, Colorado, Industrial Development Revenue 3anda. charge against its general credit or taxing powers. In (Greeley, Ltd. Project) Series 1984, in the total principal entering into the Loan Agreement, the Issuer will not obli- amount of $9.000,000 (the Bonds), for the purpose o£ gate itself, except with respect to the application of the financing the Project; and revenues derived from the Loan Agreement and the Bond pro- Nadi nano it is necessary or desirable toand issue the reeds. The Issuer will not pay out of its general fund or Bonds by Ordinance following a public hearing and to approve • otherwise contribute any part of the Coat of the Project (as the form and authorize the execution of the aforementioned - - - said term 1• defined in the Loan Agreement). No coats are therebdocuments E. to be borne by the Issuer in connection with the i ante of NOW,OW, THEREFORE, IT ORDAINED EY THE.BOARD'OE the Bonds. COUNTY COMMISSIONERS OF D COUNTY, COLORADO* Section 5, Bond Ordinance Irrepealable. After the Approva Authols 1. Approvals and ations.including The form- Bonds are issued, this Bond Ordinance shall constitute an of Loan Agreement and the Trust Indenture, including the irrevocable contract between the Issuer and the holders of form o£ Bond, the Nate, the Deed of Trust and the Private -the Bonds and shall be and remain irrepealabla until the P e Board Agreement are hoe by approved. The Chairman of to Bonds, both principal and interest, shall be fully paid, the Board and the Clerk are hereby authorized and directed cancelled and discharge& to execute the Loan Agreement, the Trust Indenture, the Section 6,. Ratification. All actions heretofore Bonds and the Private Placement Agreement and to +£fix the ' taken by the Issuer and by the officers thereof or on their seal of the Issuer thereto, and further to execute and " behalf not inconsistent herewith directed toward the.financ- • then irate such other documents, instruments or certl[i- rates as are deemed necessary or desirable by bond counsel Ing of the Project and the issuance and sale of the Bonds, or the conduct of a public hearing relating to the issuance in order to issue and of Trust), from the Obligors to the secure the Bonds. Such documents are to be executed in of the Bonds or the location and nature of the Project, are hereby ratified approved and confirmed. substantially the form hereinabove approved, provided that _ such documents may be completed, corrected, prepared Sr - Section 7. Repealer, All acts, orders, ordinances, revised as deemed necessary by the parties thereto in order resolutions or parts thereof, taken by the Issuer and in conflict with this Bond Ordinance. are hereby repealed except to carry out the purposes of this Bond Ordinance. Copies of that this repealer shall not be construed so as to revive all o£ the documents shall be delivered, filed and recorded or more series, and to be dated as of their date of delivery any act, order, ordinance, resolution, or part thereof, heretofore repealed. or as otherwise provided in the Loan Agreement and the Trust , Indenture, in a total principal amount of $9,000,000, for Section 8. 0chez M+ttere. By the passage of this the purposes, in the form and upon the terms set forth in Bond.ordinance, the Board does not intend to approve, nor is this Bond Ordinance the Dead of Trust, the Trust Indenture, it approving hereby, any matters relating to licensing cub the Loan Agreement, and the PrIVate Placement Agreement, division zoning, planning or landscaping o£ the Project. including the form of the Bond sat forth as in the Trust Approval of such matters must be obtained under normal procedures of the Issuer. Indenture. _ The Bonds shall be sold to the purchaser thereof Section 9, SWerabilkty. !£ any paragraph. clause, LA SALLE LEADER December 13, 1984 Page 11 ' section or provision of this Bond Ordinance, except Section 4 hereof, ie judicially adjudged invalid or unenforceable, such judgment shall not effect, impair or invalidate the retraining paragraphs, clauses, sections or provisions hereof. l`ietien 10. Emergency Ordinance; Effective Date. The Board hereby finds, determines and declares that, as a result of changes in the law and the nature of changes in -interest rates, and the desire of the Board to provide more adequate hotel and convention facilities within Weld County, adoption of this Ordinance as an emergency ordinance is in the best interest of the Issuer and is necessary for the preservation of the health, safety, welfare and convenience of the Issuer and the people of Weld County, Colorado. This Ordinance shall therefore be in full force and effect from , and after the date of its L _n. Public notice t.. thre Emergency Ordinance shall be go.'en forthwith after passage. INTRODUC'_J, ADOPTED AND APPROVED Ibis Seth day of Deco der, 1994. BOARD OF COUNTY COMMISSIONERS WELD couNTy, COLORADO A Norman Carlson, Chairman (SEAL) �, ins Jo,IY/,esbn, Pro-Tea 0 ATTEST: it y mµ one R. ra nar County C ark a Boordes Joy artin tin •. Pp V D AS ho unty Attorney Read and approved December 10, 198E Published in the La Salle Leader December 13, 198E NOTICE OF PUBLIC HEARING on THE ISSUANCE OF WELD COUNTY, COLORADO INDUSTRIAL DEVELOPMENT REVENUE BONDS PEREZ , LTD. PROJECT) , SERIES 1984 IN THE AGGREGATE PRINCIPAL AMOUNT OF $9 , 500, 000 PUBLIC NOTICE IS HEREBY GIVEN that the Board of County Commissioners (the "Board") of Weld County, Colorado (the "County" ) , will hold a public hearing at the regular meeting of the Board to be held in the First Floor Hearing Room, 915 10th Street, Greeley, Colorado on Monday, December 10, 1984 at or about 9 : 00 a.m. on the proposed issuance by the County of its Industrial Development Revenue Bonds (Perez , Ltd. Project) , Series 1984 (the "Bonds" ) , in the aggregate principal amount of $9, 500, 000 to finance the cost of the acquisition and equipping of a hotel and convention facility comprising approximately 45, 700 total square feet, including real estate and equipment (the "Project" ) to be owned and operated by August Perez II and Patrick Bajdek, and a corpo- ration to be formed the shares of which are owned 100% by Mr. Perez and Mr. Bajdek. The Project will be located at 700 Eighth Street in the City of Greeley, Colorado. The Bonds and the interest thereon shall never constitute the debt or indebtedness of the County, within the meaning of any pro- vision or limitation of the State Constitution or statutes, and shall not constitute nor give rise to a pecuniary lia- bility of Weld County, Colorado, or a charge against the gen- eral credit or taxing powers thereof. All interested persons may appear and be heard on the issuance of the Bonds and the location and nature of the proposed Project. On a date to be determined but following the public hearing, the Board will consider and act upon a resolution approving the issuance and delivery of the Bonds by the County. /s/ Mary Ann 'Feuerstein County Clerk and Recorder County of Weld, Colorado Publish in: LaSalle Leader Publish on: November 21, 1984 Hello