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Home My WebLink About20000131 RESOLUTION RE: ASSIGN ALLOCATION FOR PRIVATE ACTIVITY BONDS PROVIDED BY STATE DIVISION OF HOUSING AND AUTHORIZE CHAIR TO SIGN 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 been allocated $1,021,625 for the year 2000 under the bond ceiling for the State of Colorado computed under Section 146 (d) of the Internal Revenue Code of 1986, and WHEREAS, Weld County is a designated local issuing authority under Part 17 of Article 32 of Title 24, C. R. S., and WHEREAS, Weld County may assign all or a portion of the above allocation to other jurisdictions for the financing of projects qualifying as projects eligible for private activity bonds as defined in Section 141 of the Internal Revenue Code of 1986, and WHEREAS, three projects have requested a portion of the allocation for the year 2000. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the allocation described above be, and hereby is, allocated to the following projects in Weld County: PROJECT JURISDICTION AMOUNT Rocky Mountain Milling Platteville $ 340,541 Kanbuild Building Milliken $ 340,541 Longmont Dairy Weld County $ 340,543 BE IT FURTHER RESOLVED by the Board that assignment of the allocations be, and hereby is, give to the Town of Platteville and the Town of Milliken as listed above. BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized to sign an agreement entitled, "Assignment of Allocation By Designated Issuing Authority,"with each of the Towns of Platteville and Milliken, and in the amounts cited above for the year 2000. 2000-0131 F10031 ASSIGN ALLOCATION FOR PRIVATE ACTIVITY BONDS PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 17th day of January, A.D., 2000. BOARD OF COUNTY COMMISSIONERS W D COUNTY, COLORA O ATTEST: a R B1ra ' rba J. meyer, C air A�� L Weld County Clerk to the '-r:.O ita Lf� q Zo'-p ast7CO) °a . J -le, ro-Tem � BY: Zet7I .. i,. a Deputy Clerk to the :, :�a ��, � . � E. Baxter APPROVED AS TO FORM: �� a e K Hall �eounty �forcey/ / Glenn Vaad 2000-0131 FI0031 ASSIGNMENT OF AN ALLOCATION BY A DESIGNATED ISSUING AUTHORITY THIS ASSIGNMENT (the "Assignment") dated this 17th day of January, 2000, is between Weld County, Colorado, a body corporate and politic (the "Assignor"), and the Town of Platteville, Colorado, a body corporate and politic (the "Assignee"). RECITALS A. Rocky Mountain Milling, (the "Company") has requested the Assignee to finance a project consisting of expansion of a milling operation (the "Project")_to be located in Platteville, Colorado, and has represented to the Assignor and the Assignee that the Project will be designed to qualify as a "project" within the meaning of the County and Municipality Development Revenue Bond Act, constituting Section 1-3-29, C.R.S., (the "Act"). B. The Company has requested that the Assignee authorize and provide for the issuance of its Industrial Development Revenue Bonds (the "Bonds") for the financing of a Project in an amount up to a maximum aggregate principal amount of$4,000,000 the ("Proposed Bonds"), pursuant to the provision of the Act for the purpose of financing the Project. C. The Assignee, by resolution dated January 4, 2000, has declared its intention to take all steps necessary or advisable to effect the issuance of the Bonds for the financing of the Project. D. The Company has requested that the Assignor assign to the Assignee the Assignor's 2000 allocation under the bond ceiling for the State of Colorado and its issuing authorities (the "State Ceiling") computed under Section 146 (d) of the Internal Revenue Code of 1986 (the "Code") as provided for the Assignor as a "designated local issuing authority" under 17-32-24, C.R.S., (the "Allocation Act"), for use in connection with the financing of the Project. E. The Company has provided to the Assignor a copy of the opinion of bond counsel provided to the State of Colorado, Department of Local Affairs, Division of Housing, that the Bonds constitute "private activity bonds" as defined in Section 141 of the Code, stating the amount of the Bonds requiring an allocation from the State Ceiling and that the Assignee is authorized under Colorado laws and its Constitution to issue the Bonds. 2000-0131 1 FI0031 ASSIGNMENT OF AN ALLOCATION BY A DESIGNATED ISSUING AUTHORITY PAGE 2 F. Pursuant to the Resolution of the Assignor adopted on January 17, 2000, the Assignor has committed and reserved its allocation from the State ceiling as a "designated local issuing authority" pursuant to the Allocation Act for use solely in connection with the financing of to Project. G. Subject to the terms and conditions set forth herein, the Assignor desires to assign to the Assignee, and the Assignee desires to accept, the Assignor's 2000 allocation from the State Ceiling, which allocates the Assignor has committed and reserved for the Project. ASSIGNMENT In exchange for the agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. The Assignor hereby assigns and transfers to the Assignee, the Assignor's 2000 allocation from the State Ceiling for private activity bonds in an amount equal to $340,541 for the purpose of issuing the Bonds to finance the Project. The Assignor and the Assignee understand that such assigned allocation shall automatically be relinquished to the "Statewide Balance" as defined under the Allocations Act unless (a) the Bonds are issued by the Assignee on or before September 15, 2000, or (b) Section 24-32-1706 (3) (c) applied. 2. The Assignor represents that it has received no monetary consideration for the assignment set forth above. 3. The Assignee hereby: (a) Accepts the assignment of the portion of the Assignor's allocation from the State Ceiling described above; and (b) Agrees to abide by each of the terms and conditions of this Assignment in connection with the use of such allocation. 2000-0131 2 FI0031 ASSIGNMENT OF AN ALLOCATION BY A DESIGNATED ISSUING AUTHORITY PAGE 3 IN WITNESS WHEREOF, the Assignor and the Assignee have caused this instrument to be executed to be effective as of th4e date and year first written above. ATT : Ma? W- : -.: «: k to the Board 1'. `r` BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO f A(�a •Y 14 .. e Board • A ELJ. • •,'T FORM: ' arbaraJ. Kirkmeyer, hair ty orne ATTEST: TOWN OF PLATTEVILLE, COLORADO BY Town /d Town Clerk APPROVED AS TO FORM: Mayor AA- ckair own Attorney 2000-0131 3 FI0031 ASSIGNMENT OF AN ALLOCATION BY A DESIGNATED ISSUING AUTHORITY THIS ASSIGNMENT (the "Assignment") dated this 17th day of January, 2000, is between Weld County, Colorado, a body corporate and politic (the "Assignor"), and the Town of Milliken, Colorado, a body corporate and politic (the "Assignee"). RECITALS A. Kanbuild (the "Company") has requested the Assignee to finance a project consisting of a modular home manufacturing facility (the "Project")_to be located in Milliken, Colorado, and has represented to the Assignor and the Assignee that the Project will be designed to qualify as a "project" within the meaning of the County and Municipality Development Revenue Bond Act, constituting Section 1-3-29, C.R.S., (the "Act"). B. The Company has requested that the Assignee authorize and provide for the issuance of its Industrial Development Revenue Bonds (the "Bonds") for the financing of a Project in an amount up to a maximum aggregate principal amount of $3,000,000 the ("Proposed Bonds"), pursuant to the provision of the Act for the purpose of financing the Project. C. The Assignee, by resolution dated January 17, 2000, has declared its intention to take all steps necessary or advisable to effect the issuance of the Bonds for the financing of the Project. D. The Company has requested that the Assignor assign to the Assignee the Assignor's 2000 allocation under the bond ceiling for the State of Colorado and its issuing authorities (the "State Ceiling") computed under Section 146 (d) of the Internal Revenue Code of 1986 (the "Code") as provided for the Assignor as a "designated local issuing authority" under 17-32-24, C.R.S., (the "Allocation Act"), for use in connection with the financing of the Project. E. The Company has provided to the Assignor a copy of the opinion of bond counsel provided to the State of Colorado, Department of Local Affairs, Division of Housing, that the Bonds constitute "private activity bonds" as defined in Section 141 of the Code, stating the amount of the Bonds requiring an allocation from the State Ceiling and that the Assignee is authorized under Colorado laws and its Constitution to issue the Bonds. 2000-0131 1 FI0031 ASSIGNMENT OF AN ALLOCATION BY A DESIGNATED ISSUING AUTHORITY - TOWN OF MILLIKEN PAGE 2 F. Pursuant to the Resolution of the Assignor adopted on January 17, 2000,m the Assignor has committed and reserved its allocation from the State ceiling as a "designated local issuing authority" pursuant to the Allocation Act for use solely in connection with the financing of to Project. G. Subject to the terms and conditions set forth herein, the Assignor desires to assign to the Assignee, and the Assignee desires to accept, the Assignor's 2000 allocation from the State Ceiling, which allocates the Assignor has committed and reserved for the Project. ASSIGNMENT In exchange for the agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 1. The Assignor hereby assigns and transfers to the Assignee, the Assignor's 2000 allocation from the State Ceiling for private activity bonds in an amount equal to $340,541 for the purpose of issuing the Bonds to finance the Project. The Assignor and the Assignee understand that such assigned allocation shall automatically be relinquished to the "Statewide Balance" as defined under the Allocations Act unless (a) the Bonds are issued by the Assignee on or before September 15, 2000, or (b) Section 24-32-1706 (3) (c) applied. 2. The Assignor represents that it has received no monetary consideration for the assignment set forth above. 3. The Assignee hereby: (a) Accepts the assignment of the portion of the Assignor's allocation from the State Ceiling described above; and (b) Agrees to abide by each of the terms and conditions of this Assignment in connection with the use of such allocation. 2000-0131 2 FI0031 ASSIGNMENT OF AN ALLOCATION BY A DESIGNATED ISSUING AUTHORITY - TOWN OF MILLIKEN LLI KEN PAGE 3 IN WITNESS WHEREOF, the Assignor and the Assignee have caused this instrument to be executed to be effective as of th4e date and year first written above. ATTEST kdet4A7 Weld C . ' ° '+the Board '4 BY: a BOARD OF COUNTY COMMISSIONERS t> •f✓ WELD COUNTY, COLORADO �.�. �•.. ..i�../43� DeT a ardcZ_ AP' ij .r.►�i ; i 4raJKirkrnehAr C. • rA Attorney ATTF�ST: �� , TOWN OF MILLIKEN, COLORADO BY: Town CIe7k, APPROVED AS TO FORM: Mayor 7 Town Attorney 2000-0131 3 FI0031 Hello