HomeMy WebLinkAbout800464.tiff RESOLUTION
RE: DECLARATION OF WELD COUNTY' S INTENT TO AUTHORIZE THE
ISSUANCE AND SALE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS
CONCERNING NOR-COLO DISTRIBUTING COMPANY.
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, Colorado (the "Issuer" ) , a county
constituting a political subdivision of the State of Colorado
and is authorized and empowered by the provisions of the County
and Municipality Development Revenue Bond Act, Article 3 , Title
29, C.R.S. 1973, as amended (the "Act" ) , to finance a project,
as that term is defined in the Act, and to issue its industrial
development revenue bonds for the purpose of paying the cost of
financing a project, and
WHEREAS, Nor-Colo Distributing Co. (the "Corporation" ) has
requested the Issuer to issue and sell to E. F. Hutton & Company,
Inc. (the "Purchaser" ) , subject to the unqualified approving
opinion of Kutak, Rock & Huie ( "Bond Counsel") , its industrial
development revenue bonds pursuant to provisions of the Act for
the purpose of financing an industrial and commercial facility
constituting a project, as that term is defined in the Act (the
"Project" ) , for the Corporation, and
WHEREAS, the Issuer wishes to declare its intention to
authorize an issue of its industrial development revenue bonds
for the purpose of paying the cost of financing the Project, when
so requested by the Corporation, upon such terms and conditions
as may then be agreed upon by the Issuer, the Corporation and
the Purchaser.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commis-
sioners of Weld County, Colorado that it does hereby declare its
intention to authorize the issuance and sale of industrial develop-
ment revenue bonds of the Issuer to the Purchaser, subject to the
unqualified approving opinion of Bond Counsel, under and in
800404
accordance with the Act, in an amount necessary to pay the cost
of the Project as described in Attachment A, presently estimated
to be $890, 000, and upon such terms and conditions as may be
mutually agreed upon by the Issuer, the Corporation and the
Purchaser, the issuance and sale of such bonds to be authorized
by an ordinance of the Issuer at a meeting to be held for such
purpose.
BE IT FURTHER RESOLVED by the Board of County Commissioners
of Weld County, Colorado that such bonds and the interest coupons,
if any, appurtenant thereto 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 the charter of the Issuer , and shall not constitute
nor give rise to a pecuniary liability of the Issuer or a charge
against its general credit or taxing power.
The above and foregoing Resolution was , on motion duly made
and seconded, adopted by the following vote on the 26 day of
March, A.D. , 1980.
/y ``f ° * BOARD OF COUNTY COMMISSIONERS
ATTEST: ` ' ' `''`,_, o✓ WELD COUNTY, COLORADO
J
Weld County Clerk and Recorder
and Clerk to the Board,- C. W. Kirby, Cblairman
c
/ ��'1,.i L � .. -,,rc,J tt, ecl
`Deputy County ,Clerk i Leonard L. Roe,
Pro-Tem
APPRhD AS TO FORM: "--- ,
'7 - Norman Carlson
nO kkk-= d
County Attorney r AealZi hhi)
L un ar
r.� C 4 (L
ne K. Steinmark
DATE PRESENTED: March 26, 1980
ATTACHMENT A
1. The Project will be located in Weld County, to wit, in
the Greeley Century Commerce Center in southeast Greeley,
Annexation Number 2.
2. The Project will generally consist of approximately 145, 600
square feet of land, a refrigerated warehouse and related
and subordinate equipment and facilities.
NELSON ENGINEERS
GREELEY NATIONAL PLAZA 822 7TH STREET GREELEY,COLORADO 80631 (3031356 6362
March 26, 1980
Board of County Commissioners
Weld County
915 10th Street
Greeley, Colorado 80631
Ladies and Gentlemen:
I read with great interest the article in the Friday,
March 21, 1980 edition of the Greeley Tribune regarding the
industrial revenue bond program that has been initiated by
the Commissioners . This is one of the finest programs that
has been adopted by the Commissioners to stimulate activity
in our area and it should be continued. This program has
been provided through legal means so that private dollars
working in a private enterprise environment can provide jobs
and activity in a local community and thus create productivity.
If ever there was a time that we need to create productivity
without federal or governmental dollars, this is it.
The primary requirement in the industrial bond program
is governmental cooperation, which we all realize will be a
cost to Weld County. The reasonable approach is to determine
that fair cost, and charge it back to private enterprise, but
allow private enterprise under a controlled bond program to
proceed to help solve one of our most serious problems of
inflation; that of too many governmental bucks chasing too
few goods . There is no' financial liability for the County
and each applicant must prove beyond any reasonable doubt
that it is fully financially responsible and capable of
supporting the proposed bond issue.
Your concern about bringing on an unusual number of
applications, because of the high interest rates which are
being charged at the current time by lending institutions,
is well founded. It must be remembered, however, that there
is practically no other funding readily available to provide
to private industry for developmental purposes, development
Board of County Commissioners
Weld County
March 26, 1980
Page 2
then can provide jobs, income, and tax base. There is a
possibility, too, of providing a competitive edge to an
industry utilizing industrial revenue bonds . This is the
American way, to find a better way, and private enterprise
has learned to adjust these competitive edges by various
means. The use of these bonds is one way for a private
enterprise activity to do what is expected in the private
enterprise system, and that is, to improve its position in
the market place.
Should this program become cumbersome, or in any way
unfair, or unduly competitive with private business in the
future, this , like any other program, could then be termin-
ated.
I plead with you to continue the program of supporting
industrial revenue bonds in Weld County. This is a rare
opportunity for government to support private industry without
costing public funds . It is essential that this program be
continued to support the activity in our Weld County area
so that our community can become a leader in providing new
jobs for people.
Respectfully,
NELSON ENGINEERS
d/41(1-
L ern C. Nelson, P .E.
LCN: jlp
KUTAK ROCK & HUIE
1330 COLORADO NATIO NAL BUILDING SUCCESSOR TO
EUGENE A.REIDY MORAN, REIDY 6 VOORHEES
JAMES D.VOORHEES DENVER,COLORADO 80202
ATLANTA
L.HOHENSEE
R. JR.
EUGENE L.HOHENSEE 1200 STANDARD FEDERAL
JAMES B.DEAN (303)534-1330 SAVINGS BUILDING
WILLIAM C.GORHAM ATLANTA.GEORGIA 30303
JOHN W.COUGHLIN O (409)522-B700
ROBERT O.IRVIN March 19, 1900 MINNESOTA
GREGORY V.JOHNSON
MICHAEL R.JOHNSON 4649 IDS TOWER
JAMES E.THOMPSON MINNEAPOLIS.MINNESOTA 55402
FREDERICK T.BERM ENKE (612)335 1460
BLUETTE N. BLINOFF OMAHA
THOMAS E.KELLEY
JANICE R.TANOUARY THE OMAHA BUILDING
MARY L.GROVES 1850 FARNAM STREET
JAMES M.PICCONE OMAHA.NEBRASKA 60102
THO (402)346-6000
REN J.GORDONUDL WARREN J. LOW WASHINGTON
DAVID A.CARRERA
1101 CONNECTICUT AVENUE.N.W.
WASHINGTON.D.C.20036
(202)629-2400
Mr. Donald D. Warden, Director
Finance and Administration
Weld County, Colorado
Post Office Box 758
915 - 10th Street
Greeley, Colorado 80631
$890, 000
Weld County, Colorado
Industrial Development Revenue Bond
-(Nor-Colo Distributing Co. Project)
Dear Mr. Warden:
Enclosed please find copies of the intent resolution
for the above-captioned financing.
Mr. Vosmera asked that I address the points raised by
the Board of County Commissioners with respect to payment
of County related fees in connection with the financing.
One issue raised was the question of review by independent
bond counsel. Mr. Vosmera indicated to me that Nor-Colo
would be willing to pay any actual fees charged to the
County on account of such review. Recently, however, our
firm was able to avoid such expense in Boulder County by
agreeing to address our bond opinion to the County, and
authorizing the County to rely on the opinion. We would
then not ask for any type of extensive opinion from the
County Attorney. The only matters we would want him to
address are the questions of the procedural validity of the
resolution and ordinance, and whether, to the best of his
knowledge, the resolution and ordinance violate any previous
ordinances or charter provisions of Weld County.
KUTAK ROCK S HUIE
Mr. Donald D. Warden
March 19, 1980
Page Two
Mr. Vosmera also indicated to me that Nor-Colo would
agree to pay any other expenses of the County related to
the bond issue which the initial application fee did not
cover.
Very truly yours
etp--
Robert D. Irvin
js
Enclosures
cc: Mr. Larry R. Vosmera
R Larry Malohn
�
Assistant Vice President
.. y" EF GP ' "n 1700 Broadway
Company Inc
Denver CO 80290
Telephone (303)861-5000
ATTENDANCE RECORD
TIME : DOCKET1180-20
APPLICANT : NOR-00L0 DISTRIBUTING COMPANY 2:Ou P.M.
DATE : MARCH 19, 1980 REQUEST : Industrial Revenue Bond Application
NAME
ADDRESS
�� � Air a) /O LI5*,
' O
from the Office of Greeley, Colorado
THE BOARD OF COUNTY COMMISSIONERS March 4 , 1980
•
WELD COUNTY, COLORADO
Publisher:
Please insert the enclosed notice in your issue the week of
March 10, 1980 one time only. (Use small type as in legals)
Regarding payment, complete the enclosed voucher and forward it to
us . When returning the voucher, please include an affidavit of
publication so we may complete our files.
Thank you for your cooperation.
Sincerely,
THE BOARD OF COUNTY COMMISSIONERS
Docket No. 80-20 WELD COUNTY, COLORADO
BY: Mary Ann Feuerstein
County Clerk and Recorder
and Clerk to the Board
By: Jeannette Ordway
• Deputy County Clerk
8a - '4
4, SENDER: Complete items I.2,and 3.
No.
F. r_-1_c-, ( o Add your address in the"RETURN TO"space on
3 reverse.
RECEIPT FOR CERTIFIED MAIL I. The following sen9ce is rec
NO INSURANCE COVERAGE PRJVIDEO-- n t eli (check one).
NIT FIR INTFRNATIIN►I MAII [� Show to whom and datd address
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Show to whom,date,and address of delivery. _it
Greeley Tribune"" m sRESTRICTED DELIVERY
•
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714 8th Street Show to whom and date delivered _Q
n RESTRICTED DELIVERY.
Greeley, CO 80631
Show to whom,date,and address of delivery.$_
_ Greeley Tribune
•
U5 AGE $ 2. A 714 8th Street —
CERTIFIED FEE 6 Greeley, CO 80631
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Affidavit of Publication
STATE OF COLORADO,
ss.
County of Weld,
r, .:..._...CTt_- - /) :g _l' of
said County of Weld, being duly sworn, say that
I amratublisher of
ere cc FE N. n<7 N431CR-
f nket n rr'Pwin DorkN tlm
that the same is a weekly newspaper of genera: it.t Lmanynum the
circulation an printed and published in the a pelvis hearing in Ili.
:pet
m , onRe PPM Floor tithe
town of _ ..ex;7:“ �_[�„ 1M CedMref Confer,MS
Ottmf in said county and state; that the notice or advert- Mcabsp Coloreds of
1M and lhaa specified:
tisement, of which the annexed is a true copy. YRi Marsh N,lfea
has been - , 'F <lb fer he
published in said weekly newspaper YNInk'afil Mier Maperyoea
for �. consecutive fd Nor-Cob Diatribe-
---- MM. y Industrial Revenue'
weeks; that the notice was published in the den.
regular and entire issue of every number of said AN ht any manner Mitres
red pe)1'.*SOS fo :fend the
newspaper during the period and time of publi • hearlaiend'May it heard,
cation of said notice and in the newspaper TIN fadasfrlal' OINma Send.
Application is avat:be for public
proper and not Ina supplement thereof; drat the mysmen in vie QM1{ap 11N CHM'
first publication of said notice was contained in to MN Bard of the Cooney,
Cammleabnaa,Third Moor,Mee
the issue of said newspaper bearing date, the "Cady Ca tta el Cantor,MS ism
OpielS day of 7/))LL-'Le , A.D., 19 �C.' MveM M iMday Nr jhFriday,:
and the last publication ti:eiccl, in thy issue at A-M.
THE ROARDo 6$.
DOF COUNTY
said newspaper bearing date, tfhe day at COMMISSIONERS
lsoo
1 «t-G 4 _ , 19 d ±:; that,the said RTttM lMADRYY ANN MIUR�R
\ STISS
y%c l7r<ulEf nF42<:.'f _ COUNTYCLIRK4AD,
%�t + RSCOROUR AND CLRRKTO.
fit. C-- 1 f!1 t'�!^: i-.. - THE SOARO
S 1.JuanaN@Ordway,Dspely
has been published continuously and uninterrupt- OMMIs Muth 3.Ilea .
edly during the period of at least fifty-two con- Fabu:*s ia1a11avINa Noy,
edR IS Ms lake Thursday,
secutive weeks next prior to the first issue thereof ASS 4.M.
containing said notice or advertisement above
referred to; and that said newspaper was at the -
time of each of the publications of said notice, `
duly qualified for that purpose within the mean
mg of an act, entitled, "An Act Concerning Legal
Notices, Advertisements and Publications, and
the Fees of Printers and Publishers thereof, and
to Repeal all Acts and Parts of Acts in Conflict
with the Provisions of this Act," approved April 7,
1921, and all amendments thereof, and particu-
larly as amended by an act approved, March 30,
1923,_sanc 17�pct approved May 8, 1931.
c/z) '72 d7a
blisher
Subscribed and sworn to before me this ••4.6_
day day of6f/ft~_K/_.___.. , A.D., 19_10
44
My commission expires _...L _._/!.—
Notary Public
Affidavit of Publication
STATE OF COLORADO
ss.
County of Weld,
I, Alice J. Garland of
said County of Weld, being duly sworn, say that I am
an advertising derk of
THE GREELEY DAILY TRIBUNE, and
THE GREELEY REPUBLICAN
that the same is a daily newspaper of general
circulation and printed and published in the City of
Greeley, in said county and state; that the notice or
advertisement, of which the annexed is a true copy, has
+' a p; been published in said daily newspaper for consecutive
xxx„ (days) (weeks); that the notice was published in the
regular and entire issue of every number of said
S ! newspaper during the period and time of publication of
said notice, and in the newspaper proper and not in a
: m supplement thereof; that the first publication of said
asvri notice was contained in the issue of said newspaper
bearing date
^ ' Eleventh
yn�Er, y� .t a : ; day of Marrh A.D. 19 Rfl •
and the last publication thereof; in the issue of said
t ,+ newspaper bearing date the
t i.LfSe. 3144; Eleventh
sF{ 1r' day of Marrh A.D. 19 Fin •
that said The Greeley Daily Tribune and The Greeley
Republican, has been published continuously and
uninterruptedly during the period of at least six
months next prior to the first issue thereof contained
said notice or advertisement above referred to;that said
newspaper has been admitted to the United States
mails as second-class matter under the provisions of the
Act of March 3, 1879, or any amendments thereof; and
that said newspaper is a daily newspaper duly qualified
for publishing legal notices and advertisements within
the meaning of the laws of the State of Colorado.
March 11, 1980
$11.60
6 c,� -
Advertising Clerk
Subscribed and sworn to before me this
11th day4of7 March A.D. 1980
My co m/issioateexpiret4 Co nth f •
Notary Public
.4W/' Q3
NOTICE
Docket 80-20
NOTICE IS HEREBY GIVEN, the Board of County Commissioners will
conduct a public hearing in its chambers on the First Floor of
the Weld County Centennial Center, 915 10th Street, Greeley,
Colorado, at the date and time specified:
DATE : March 19, 1980
TIME: 10: 00 A. M.
Said hearing will be for the purpose of considering Nor-Colo
Distributing Company Industrial Revenue Bond Application.
All persons in any manner interested are requested to attend the
hearing and may be heard.
The Industrial Revenue Bond Application is available for public
inspection in the Office of the Clerk to the Board of the County
Commissioners, Third Floor, Weld County Centennial Center, 915
10th Street, Greeley, Colorado, and may be viewed Monday through
Friday, from 8 : 00 A. M. to 5 : 00 P. M.
THE BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
BY: MARY ANN FEUERSTEIN
COUNTY CLERK AND RECORDER
AND CLERK TO THE BOARD
BY: Jeannette Ordway, Deputy
Dated: March 3, 1980
Published: March 6, 1980 in the Platteville Herald
mEmoRAnDum
hiDe To Members of the Board / Dme February 7, 1980
COLORADO From Don Warden
Subject: Nor-Colo Distributing Company Industrial Revenue Bond Application
On February 5, 1980 I was in receipt of an Industrial Revenue Bond application
for Nor-Colo Distributing Company. The revenue bond issue application is for
approximately $875,000 and would be used to construct a new warehouse in Weld
County. It is my recommendation that the Board of County Commissioners at this
time simply receive the application formally in your Board meeting, and refer
the application to the Chamber of Commerce Economic Development Advisory Com-
mittee for their comments. Once the comments are received, it is suggested
at that time, based upon their recommendations, that County staff analyze the
application and make appropriate recommendations to your Board.
If the above approach is agreeable to your Board, it is also suggested that
the Director of Finance and Administration be directed to send the President
of the Company a letter stating the action of the Board.
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