HomeMy WebLinkAbout820289.tiff RESOLUTION
RE: RESCINDING RESOLUTION CONCERNING AGRICULTURAL DEVELOPMENT REVENUE BONDS
DATED AUGUST 26, 1981.
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, on the 26th day of August, 1981, the Board of County Commis-
sioners issued an inducement resolution for Agricultural Development Revenue
Bonds for Greeley National Bank, and
WHEREAS, December 16, 1981, the Board of County Commissioners received
a letter indicating that Greeley National Bank no longer wishes to pursue the
project and not to proceed with the bond issue.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners that
the inducement resolution for the issuance of Agricultural Development Revenue
Bonds for Greeley National Bank dated August 26, 1981, is hereby rescinded.
The above and foregoing resolution was, on motion duly made and seconded,
adopted by the following vote on the 6th day of January, A.D. , 1982.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
J� Martin, Chair n
OpS, toe
511 Chuck Carlson, ro-Tem
+.2: .44. W` .Newt i ta+.,..� 'N
ATTEST:
Norman Carlson
Weld County Clerk and Recorder ��
and Clerk to the Board i AL-L'" // C W. Kirby
By: (U ,,ze a LL, '4.�
/ Deputy County erk id2�7y,2�41Z
( _ J ni K. Steinmark
APPR%ED AS TO FORM: ,--- 1-7/7 ��_ ,_ (
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County -C
Attorney
820289
akffiliated
Greeley National Bank
One Greeley National Plaza
Post Office Box 1098
Greeley,Colorado 80632
303/356-1234
December 16, 1981
Mr. Don Warden
Director of Finance
County of Weld
915 10th Street
Greeley, CO 80631
Dear Don:
Before the recent drop in interest rates, Dain Bosworth had the
one million dollars in bonds for agricultural equipment placed with
an institutional investor. With the decrease in rates, farmers
can now get equipment loans through various implement dealers at
a rate below what they would have paid on the bond issue. As a
result, the decision was made to not proceed with the bond issue
at this time.
We appreciate the efforts and cooperation received from the county
commissioners and from you on this project. If it appears advantageous
to Weld County farmers to proceed with the program in the future, we
will be interested in exploring such a program again.
Sincerely,
64 J '
Evan R. Patterson
Senior Vice President
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