HomeMy WebLinkAbout810378.tiff BOOK Recorded at col -/ 7 ;clock /2 JAN 1 4 1981
CD
925 1846965 g
Rec. No. ° it te44
ORDINANCE NO. 86 57-/
State of Cofdo, Weld County Clerk & Recorder
IN THE MATTER OF INDUSTRIAL REVENUE BONDS FOR EUGENE J. HESSE, M.D.
BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY,
COLORADO:
iD
WHEREAS , Weld County, Colorado (the "County") , is authorized
by Title 29 , Article 3, Part 1, Colorado Revised Statutes 1973 ,
9
as amended (the "Act") , to issue revenue bonds for the purpose of
r`
financing one or more projects, including any land, building or
other improvements and all real or personal
properties suitable
or used for or in connection with a manufacturing, industrial,
commercial, agriculture or business enterprise, and to enter into
a financing agreement with respect to the project with a user pro-
viding for payment to the County of revenues sufficient for the
payment of the principal of and interest on the bonds, and
WHEREAS, by a resolution duly adopted on December 17 , 1980 ,
(the "Inducement Resolution") , the County committed itself to issue
such bonds in an aggregate principal amount not to exceed $110 , 000
in accordance with the provisions of the Act and subject to the
terms set forth in the Memorandum of Agreement attached to the
Inducement Resolution, for the purpose of financing the cost of
acquiring, improving and equipping a building located within the
County, and all necessary and appurtenant real and personal pro-
perties, whether or not now in existence, constituting primarily
a medical facility with the remaining space leased for business
and commercial purposes, (the "Project") , and
WHEREAS, the funds from the proceeds of the bond issue will
be made available to Eugene J. Hesse, M.D. (the "Borrower") , and
WHEREAS, the following documents have been submitted to the
Board of County Commissioners (the "Board") and filed in the
office of the County Clerk and Recorder (the "Clerk") and are
there available for public inspection:
(a) a Loan Agreement, dated as of February 16 , 1981
(the "Loan Agreement") , proposed to be made and entered into among
the County, the Borrower and United Bank of LaSalle, LaSalle,
Colorado, (the "Bank") .
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810378
BOOK
925 1846965
(b) a Combination Mortgage and Security Agreement, dated
as of February 16 , 1981 (the "Mortgage") , proposed to be
made and entered into between the Borrower and the Bank,
WHEREAS, the Board desires to authorize the issuance of
Weld County, Colorado, Industrial Development Revenue Bond
(LaSalle Medical Clinic Project) , Series 1981, dated as of the
date of the delivery of the Bonds and in the form of Bond attached
hereto as Exhibit B, in the principal amount of $110, 000 (the
"Series 1981 Bond") , and
WHEREAS, it is necessary to authorize the issuance of the
Series 1981 Bond by Ordinance and to approve the form and authorize
the execution of documents in connection with the issuance thereof :
NOW, THEREFORE, BE IT ORDAINED by the Board of County Commis-
sioners of Weld County, Colorado, that:
Section 1. Approvals and Authorizations. The forms of the
Loan Agreement and Mortgage are hereby approved. The Chairman
of the Board and the County Clerk are hereby authorized and
directed to execute the Agreement and affix the seal of the County
thereto, and further to execute and authenticate such other docu-
ments, instruments or certificates as are deemed necessary or
desirable by bond counsel in order to issue and secure the Series
1981 Bond. Such documents are to be exectued in substantially
the form hereinabove approved, provided that such documents may
be completed, corrected or revised to conform to the intent of
the Bank, the Borrower and the County concerning the purchase of
the Series 1981 Bond by the Bank, or as deemed necessary by the
parties thereto in order to carry out the purposes of this Bond
Ordinance. Copies of all of the documents shall be delivered,
filed and recorded as provided therein.
The proper officers of the County are hereby authorized and
directed to prepare and furnish to bond counsel certified copies
of all proceedings and records of the County relating to the
Series 1981 Bond and such other affidavits and certificates as
may be required to show the facts relating to the authorization
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925 1846965
and issuance thereof as such facts appear from the books and S 3
records in such officers ' custody and control or as otherwise
known to them.
The approval hereby given to the various documents referred
to above includes an approval of such additional details therein
as may be necessary and appropriate for their completion, including
interest rates and any numbers derived therefrom, deletions there-
from and additions thereto as may be approved by bond counsel prior
to the execution of the documents. The execution of any instrument
by the appropriate officers of the County herein authorized shall
be conclusive evidence of the approval by the County of such instru-
ment in accordance with the terms hereof.
Section 2 . Issuance and Sale of Bonds. The County shall
issue its Industrial Development Revenue Bond (LaSalle Medical
Clinic Project) Series 1981, dated as of the date of delivery,
in the total principal amount of $110 ,000 , for the purpose, in
the form and upon the terms set forth in this Bond Ordinance,
the Loan Agreement, the Mortgage, and the form of the Bond
attached hereto as Exhibit B.
The maximum net effective interest rate authorized for the
Series 1981 Bond is nine percent (9%) .
The Series 1981 Bond shall be payable in the manner and upon
the conditions set forth in the Loan Agreement.
Section 3. Determinations. It is hereby found, determined
and declared that:
(a) the amount necessary in each year to pay the principal
of and the interest on the Series 1981 Bond is as set forth in
Exhibit A attached hereto;
(b) no reserve fund shall be established in connection
with the issuance of the Series 1981 Bond;
(c) the Loan Agreement provides that the Borrower shall
maintain the Project and carry all proper insurance with respect
thereto;
(d) the Loan Agreement requires that the Borrower pay the
taxes which the taxing entities specified in Section 29-3-120 (3)
of the Act are entitled to receive with respect to the Project;
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1846965
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(e) the payments required in the Loan Agreement to be made
are sufficient to pay the principal of, interest on, and any
premium due in connection with the Series 1981 Bond when due and
to pay all other costs required in the Loan Agreement to be made.
Section 4 . Nature of Obligation. Under the provisions of
the Act, and as provided in the Loan Agreement, the Series 1981
Bond shall be a special, limited obligation of the County payable
solely from, and secured by a pledge of, the revenues as stated
in the Loan Agreement and shall be further secured by the lien
of the Combination Mortgage and Security Agreement upon the Pro-
ject. The County will not pledge any of its property or secure
the payment of the Series 1981 Bond with its property. The Series
1981 Bond shall never constitute the debt or indebtedness of the
County within the meaning of any provision or limitation of the
State Constitution or statutes and shall not constitute nor give
rise to a pecuniary liability of the County or a charge against
its general credit or taxing powers . In entering into the Loan
Agreement, the County will not obligate itself, except with respect
to the Project and the application of the revenues therefrom and
bond proceeds therefor. The County will not pay out of its
general fund or otherwise contribute any part of the Cost of the
Project (as said term is defined in the Loan Agreement) .
Section 5 . Bond Ordinance Irrepealable. After the Series
1981 Bond is issued, the Bond Ordinance shall constitute an irre-
vocable contract between the County and the holder or holders of
the Series 1981 Bond and shall be and remain irrepealable until
the Series 1981 Bond, both principal and interest, shall be fully
paid, cancelled and discharged.
Section 6. Ratification. All action heretofore taken by
the County and by the officers thereof not inconsistent herewith
directed toward the financing of the Project and the issuance
and sale of the Series 1981 Bond is hereby ratified, approved
and confirmed.
Section 7. Repealer. All acts , orders, resolutions, or
parts thereof, taken by the County and in conflict with this
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1846985
Sr-C
Bond Ordinance are hereby repealed, except that this repealer
shall not be construed so as to revive any act, order, resolution,
or part thereof, heretofore repealed.
Section 8. Severability. If any paragraph, clause or
provision of this Bond Ordinance is judicially adjudged invalid
or unenforceable, such judgment shall not affect, impair or in-
validate the remaining paragraphs, clauses or provisions hereof.
Section 9 . Effective Date. This Bond Ordinance shall take
effect upon passage and adoption.
Section 10 . Declaration of Emergency. Due to the lack of
time for the issuance of said Industrical Revenue Bonds and so as
not to jeopardize the issuance of said bonds, the Board of County
Commissioners of Weld County, Colorado, pursuant to Section 3-14 (6)
of the Weld County Home Rule Charter, does hereby declare this
Ordinance to be an emergency Ordinance.
The above and foregoing Ordinance No. 86 was, on motion duly
made and seconded, adopted by the following vote on the 14th day
of January, A.D. , 1981.
BOARD OF COUNTY COMMISSIONERS
ATTEST: �/t,,, ///La..ati_ _'t. WELD COUNTY, COLORADO
Weld County Aerk and Recorder 7-7
_ „
and Clerk to the Board Chuck Carlson, Chairman
BY: to C,(1�k 4, r .t.�... d.-,
Deputy County Clerk Norman Carlson, Pro-Tem
APPR ED AS TO FORM: � , 7
C C. W. K rby
O 7
/, upty Atto ney
'-� -Fa � n Martin
., A .I. C A ne K. St571,1-1-t. inmark
�
t op' � A . /
PRESENTED: JANUARY 14, 1981
PUBLISHED: JANUARY 22, 1981
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Wet),Series 1961,dated as of the
date of the delivery of the Bonds
and in the hed
hereto asNExhibit Etrmal Bald a in c the
rincipal amount of{tib,000(the AFFIDAVIT OF PUBLICATION
PUBLICNOTICE 'Series 1881 Bond"), and
onata ANCU1 j40.96 WHEREAS,it L necessary to
authorize the issuance of the THE JOHNSTOWN BREEZE
"nagiTR Series YB81 Bond by Ordinance
BBB7rrr�'e; and to approve the form and STATE OF COLORADO )
- (i��Fy J M D. authorizeihe execution of deen-
•>��$ir Tr ments in connection with the ) Ss
al,� TY CUM- issuance thereof:
N, 1� WELD COUNTY OF WELD
Now ED by the E BE IT I, Clyde Briggs, do solemnly swear that I
ORDAINED Commissioners
is the s ogoal,
W of Y go ,
NHadof, Weld County, County O olorad, that:f std am publisher of The Johnstown Breeze;
Colorado tthhe "County"), is County, Colorado. that;
authorized Title u,Article athat the same is a weekly newspaper
Part 1, --Colorado Revised Section 1. Approvals sad
Statutes 1973, as amended (the Authorisations. eformeoftiw printed, in whole or in part, and published
T
"Act'), to issue revenue bonds Loan Agreement and M°`ci�r° in the County of Weld, State of Colorado,
far the purpose of mro are hereby approved.TTe
armcs.ebu any man of the Board and the connnty and has a general circulation therein; that
or ether e- Clerk are hereby authorized and
m and real orrpers al directed to execute the Agra said newspaper has been published
n aopropertiesen ft nn a many- , oCoun for or t and affix{y thereto,the aand'further m continuously and uninterruptedly in said
trctdring. eessmer- execute and authenticate such County of Weld for a period of more than
cial, agriculture or business - other documents, instruments
eennterprissee and to enter into a or certificates as are deemed fifty-two consecutive weeks prior to the
enancin`,agreem t with re- nee eesary or desirable by bond
sped to he wwitth touter coimel 1n order to issue and first publication of the annexed legal notice
providing of
te of
secure the Series 1081 Bond. or advertisement; that said newspaper has
minty off menu ode principal_ Such documents are to
the Duds executed in wDs are the e been admitted to the United States mails as
form ed that hereinabove approved,
WHEREAS, by a resoluyon provided that such d ymente second-class matter under the provisions of
on December 11, be completed,corrected or
dull,( ,teaMt"Inducement ryevvlentocatormmme intent the Act of March 3, 1879, or any
yon ) the County committed thti1Bounty the Boto ning the and amendments thereof, and that said
itself to issue such bonds in an the Caseof contenting ore
rmcl amount not byr�he Bof anthe. Series ss 1961 Bond newspaper is a weekly newspaper duly
tiry the Bank or as deemed
e th el si inaf the nc necessaryb caertiesthereto qualified for publishing legal notices and
andd subject to of
s Act set in order to car out the
forth in one of dam of purpose, of this Ordin advertisements within the meaning of the
Meal, once. Copies of all of the
Agreement. a cited to the documents shall be delivered laws of the State of Colorado.
• ce enfinancing te for the filed and recorded a 'ovided That the annexed legal notice or advertise-
cgyirfng,. Improving and uThe proper officers of the ment was published in the regular and
swooping a building Located County are hereby authorised
within the County and ail and directed to rapes and entire issue of every number of said weekly
necessary and appurtenant real Nrnish to bond cwnsa certified
and personal tepr�rrtttieess, copies of all proceedings and newspaper for the period of .�.... first
whether or not now records of the County relating to five insertions; and that the first
constituting primarily a medical the Series 1961 Itond and such
facility ear the -remaining other affidavits and certificaWs publication of said notic_e_was in the issue of
e wes teased mr business arm as may be required to show
commercial purposes, (the facts relating to the authorize.
said newspaper dated&c ..I.N., A.D. 19*/,
Project"),andlion and issuance thereof as and that the last publication of said notice
WHEREAS, the funds from such facts appear from the
books and records in such was in the issue of said newspaper dated
the proceeds of the bond issue officers'custody end control or
will be made available to otherwise known to them. A.D. 19
Eugene .1. Besse. M. as al hereby given to
"Borrower"),and the vari�au documents referred In witness whereof I have hereunto set
to WHEREAS,the following - suchabove iti pals etat is tort my hancj this ..,.�j day of,.�,2� ,
uments have een submitted to additional be c A.D. 19�/
the Board of Conn Commis, as may be necessary and
appropriate for their com-
in the s(the"Board ) and filed and
an including interest rates
in the corder!the County Clerk �d any numbers derived there-
and re then Recorder(the"Clerk")f and from, deletions therefrom and
are there available for public approved thereto as may be
impaction: approved by bond fhcounsel prior
(a)A Loan Agreement dated to the execution uti the Wu- C.5Publisher
as of February 18 1081 (the many. The execution of any
priate
Loan Agreement"), proposed officeinstmrs
b the my here
to be made and entered into author• of the County lustve
e
am thejcunty the Borrower authorized be approvalcon by the
onpg Mien evidence of ire by in Subscribed and sworn to before me, a
and olorado,�g((the accord ofn such with-Instrument ter in Notary Public in and for the C unty of
"Bank") accordance the termsg
hereof. Weld.
„State of Colorado, this ./.?'—`day of
(b) a Combination Mortgage gep�{pp f m.Lesace end gale of b^V A.D. 19E/
and security Agreement dated Bonds.Mu County shall issue its
as of February 18, 1041 (the Industrial Development Reve-
•Mortga ") proposed to be nue Bond (LaSalle Medical �I
made entered into between Clinic Project) Series 1081, � ��� /-'
the Borrower and the Bank, dated as of the date of delivery, K!f k Y
WHEREAS,the Board desires in the total L�ncipaall amount o :. .•�"' " "�
to authorize the issuance of Weld mow,b upon_the-.terms set
suet Notary Public.
County, Colorado, Industrial forth MUM Bona Ordinance,the
Development Revenue Bond Loan Agreement,the Morfage
(LaSalle Medical Clinic Pro- and the form of the Bond
attached hereto as Exhibit B.
Theaximu'tlu edfor net effective My commission expires //-/-,(f -
interest
rate
Series 1081 Bond Is nine percent(9 The_percent).
Se ie 1081 Bond upon
shall be
The conditions
payable inee
i manner forth i The
Loan Agreement.
paydit w 14 ral fund or
the Coot sr any part of
eethe term s Lout
Agreement). /.::.
IL a.d Irrepeatable. AZ4r Ordinance
th
de� - .
is Bond la Daled, the Bond
Ordi
nance shall constitute an
<a) the amoad necessary m lrrevocabtvlle c act between
each rear to pay the princInal of holders ottee s 1981 Bond
and Me Interest oh the BBeerlee and shall be_and remain
1881 A ads ,t�Nherettote in Bond othte inlly M°Series cipal and Inter-
(`D) no reserve shall be sand discharged.
beiuged.gild,cancelled
ate la with "action
the of , rlee 1881 actlaltlheretofo taken D• thle
(c thteD�tloaltAgreementMend' iawntd by the officers
hall
the t an the d carrywith directed wteanrd the
aaa11D11 proper Insurance with financing of the Prefect and the
ww issuance and sal of the Series
rapid merete; 1981 Bond is hereby rained,
(d the Loan Agreement approved and confirmed.
that the Borrower pay Section 7. .All acts,
th taxes which_
_ the taxing orders, resolutions1 or aria
sina
q Res specified in Section thereof,taken by the Coun[yy and
9s-LMRna Act are entitledin conflict with this tarts
to receive with respect to the Ordinance are hereby reputed
Proglet: except that this repealer shall
(e) tahne payments tared in 'not be construed so as to revive
ante stiner Agreementto pay to
pane be l- any
edheref, terresolution,r re re-
am ofs� interest on, and bremlum due in connection wl
99hre tierias 1881 Bond when due g°O 6'�e�hltY•If any
ant to koala other costs Paretraph clauMra' Provisi s
r�esuhe m tae Loan Agreement judicially cill adjudged)' u dinalid is
b M dmade. uenforc le. such
Invalid or
nt
unenforceable ace ]ps& or
Sena 4. Nature of Oblige- shall not affect, impair or
r the provisionsInvalidate the
r p
Ad,anSe d asp mt,theedal
n the Loan
Bond of the D°roof' clauses,
tilde dal tlni.��county limited
ale.ixt en
Sections.Effective Date.This
front, aM-treaurea ly' a Bond Ordinance shall take effect
of the resides as stated upon passage end adoption.
Agreement and shed Section 10. Declaration of
be er N by the lien Emergency.Due to the lack of
the Combhuhed Mortgage and hme for the issuance of said
SmartMeant upon the Industrical Revenue Bonds and
S "+ will not so as not to jeopardise the
'any property issuance of said bonds, the
the payment of the Series Board of County Commissioners
1N1 HeedW Rita 'eePe •The of-Weld County Colorado,
Series 1981 shall never pursuant to Sectbtn'8-14(6)of the
caulWte the or indebted- Weld County Home Rule Char-
mss of the County within the ter does hereby
=on
of any provision or Ordinance to be an emergency
this
Iiat or on of the State Cons u- Ordinance. R Y
Roe t statutes and shall not
coeeRtute nor a rise to a The above and foregoing
pecuniary ary of the County Ordinance No.86 was,on motion
or a charge t its general duly made and seconded,
credit or g powers. In adoted by the following vote on
eaterin Into Ln Agree- the---day of January,
mWj{e M itself-County with 1981. dry.A.D.,
t to the itself. and the BOARD OF COUNTY
taI Ron of the revenues W) S IO ZRS
tlsp+C . The Coountty d proceeds wID COW
. Chuck Carlson,Chairman
Norman Carlson,Pro-Tern
C.W.Kirby
JohnMartin
June K.Stefmnark
ATTEST: u��stein
Weld Ca n rerlkrk.'
and Re and
Clerk to Board
By: Keftha White
Deputy County Clerk
APPROVEDDaAS TO FORM:
Thomas County At p 4rneyd PRESENTED:January 14,1981
PUBLISHED: J 22, 1981
Co Legal 81-18-Clerk to the
LAMM STOWE BRAYMER & WISOR
A PROFESSIONAL CORPORATION
ATTORNEYS AT LAW
SIB AMERICAN NATIONAL BANK BUILDING
818 SEVENTEENTH STREET
DENVER, COLORADO 80202
TELEPHONE (303) 825-1284 IN ASSOCIATION WITH
WILLIAM O. LAM
ERICK D. STOWE
LAMM & STOWE
ATTORNEYS AT LAW
D ANNE BRAYMER
DEE P.WISOR p CHEYENNE, WYOMING
BARBARA E. BONDS* January 15, 1981 (3071 635-0221
THOMAS FALACIENSKI
TERRY J. MARONE
KAREN KILGORE
YILICONSED ON,IN WYOMING
Mr. Don Warden
Director of Finance
Board of County Commissioners
Weld County, Sentiniel Center
915 10th Street
Greeley, Colorado 80631
Re: Industrial Development Revenue
Bond for LaSalle Medical Clinic
Project
Dear Don:
Enclosed are the Exhibits to the Bond Ordinance author-
izing the issuance of the bonds for the above cited issue. The
schedule of principal and interest payments, Exhibit A, is subject
to change as soon as the Bank works out a new schedule based on
the actual date of closing . Exhibit B , the form of the Bond ,
is also enclosed. I would also like to confirm that the date of
closing is Feburary 16, 1981 , rather than February 15. If you
have any other questions, please contact me.
Very truly yours,
r-1,1 () a-Ktki�R—
Terry "J. �Marone
TJM/th
Enclosures
CgpNS1 �
AV
,_; RTCZATIO'J SCHEDULE PAGE : 1
RATE PRINCIPAL PAYMENT ODD DAYS LOAN DATE 1ST PY'1T
9. 000000 110000 . 00 1115. 69 0 1 /3C/21 3/ 1/`.1
PIT DATE PAYMENT INTEREST PRINCIPAL BALANCE
1 3/ 1/81 1115. 59 825 . 00 290 . 59 109709. 31
2 4/ 1/91 1115. .9, 822. 82 292 . 87 12941 ,. 44
3 5/ 1/81 1115. 59 „20 . 62 295. 07 109121 . 37
4 5/ 1/81 1115. 39 218 . 41 207. 29 102824 . 09
5 7/ 1/81 1115. 69 214. _8 299. 51 1085247 58
9 8/ 1/81 1115. 69 913 . 93 201 . 74 109222. 02
7 9/ 1/31 1115. 59 911 . 57 304 . 02 107918 . 90
3 10/ 1/81 1115. 69 200. 39 201. 39 107412 . 59
9 11/ 1/81 111.5. 69 807. 09 308 . 60 107303. 90
10 12/ 1 /81 1115. 59 304 . 78 310. 9.1 105992 . 99
TOTAL INTEREST FOR 1931 : 3149. 89
11 1/ 1/B2. 1115. 59 202. 45 313 . 24 108979. 75
12 2/ 1/22 .1115 .99 200 . 10 315. 59 103364 . 1
13 3/ 1/32 1115.;9 797 . 73 217. 95 10 ;046 . 20
14,E 4/ 1./32 1115. 59 795. 35 3.20 . 34 105725. 11
15 1115 . 69 792 . 94 322. 75 105403. 11
19 S/ 1_/32 1115 . 69 780 . 52 325. 17 105077 . 94
27 7/ 1/82 1115. 59 723. 00 327 . 61 104750 . 33
18 C/ 1/82 1115. 99 725. 1.3 330 . 06 104420 . 27
19 9/ 1 /? 2 11. 15. 69 7;83 . 15 332 . 5' 104027 . 73
213 10/ 1/22 1115. 59 780 . 1 335 . 03 103752. 70
21 11 / 1 /'£' 2 11. ] 5 . 30 272 . 15 237 . 51 103 15. 1
22 12/ 1/,^, '2 1115 . 99 775 . 11 240 . 09 10.3075. 00
TOTAL INT2023iT FOR 1982 : 9470 . 27
23 1/ 3 /K; 3 1115. . '73 . 06 342 . 63 102732. 45
24 2/ 1./83 1115. 69 770. 49 ?45. 20 102387 . 25
25 3/ 1/83 1115. 99 797 . 90 '47 . 79 .102039. 45
26 4/ 1/23 1115. 1" 765. :0 ?50 . 19 101600 . 07
27 5/ I/S i 1115. 99 712 . 67 35, 3. 02 1013 1 . 05
28 1/ 1/83 1115. 6°. 790. 02 355 . 97 100980. 33
29 7/ 1/33 1115. 59 757 . 35 358 . 34 100622. 04
30 8/ 1/33 1115. 69 754 . 57 231 . 02 100291 . 02
31 9/ 1/33 1115. 69 751 . 96 713 . 73 99297 . 29
32 10/ 1/23 1115. 69 749. 23 361 . 46 99530 . £3
3 11/ 1/83 1115. 69 745 . 49 399 . 21 99161 .2
34 12/ 1 /C: 1.115. 59 743. 71 371 . 92 93789 . 54
TOTAL INTEREST FOR 1933 : 9102. 44
35 1/ 1/84 1115. 59 740 . 92 374. 77 92414 . 87
35 2/ 1 /84 1115. 69 738 . 11 377 . 53 93037 . 29
37 3/ 1 /94 1115. 68 735 . 2: 330 . 41 97656. 38
3s 4/ 1/t 4 1115. 69 732 . 42 2(,-1 . 2' 97273 32
39 5/ 1 /84 11. 15. 19 728 . '541 381 . 14 1287 . 40
40 6/ 1/C4 1115.69 725 . 6,: 239 . 03 96499 . 45
41 7/ 1/24 1115. 59 723 . 74 391 . 95 96105 . 50
A,4' ?:TI7ATIO€ SCHEDULE PACE : 2
P;,I'P ' 1 •10 PAYMENT INERERT PRLPICIP^,L 57•.LANCE
4 1115. 8 275 . 80 51 . 89 05711 . 11
4 ' / 1/F4 1115 . 39 717 . 54 599 . 15 25713 . 71
44 ll 1/04 1115 . 59 719 . 35 425 . 14 54012. ' 2?^.
45 11 / 1/`4 111.. 12 ' 11 . 95 54599. 08
45 12/ 1./74 1115. 59 708 . 22 4'23 . 07 94102. 221
TOTAL INTEREST FOR 1984 : 6700 . r; 5
39 5 111 .
47 1/ 1/° ` r ( 705 . 77 469. 92 93592 . 2°
49 2/ 1/85 1115 . 55 702 . 59 411 . 09 93'279 . 20
49 7/ 2 /25 1115. 10 4D9 . 59 415 . 10 927 57 . 19
96 Q 7 0244 "7
5;) 4/ 1./35 1] 15. ,.--;c ,, , , 4'; 41 . 2 - j_
51 5/ 1/25 1.115. 19 19 , . 73 422 . 35 92071. '_
52 1 / 9 11155. 39 190 . 15 425. 53 ° 1501 . 53
53 7/ 1/95 1115. 59 005. 97 42" . 72 9115 / . ?`
54 2/ 1/35 111.5. 5° 127 . /5 133 . 43 94735 . 41
55 2/ 1/25 1115. 59 20 . 52 415 . 17 90700 . 2'
5.5 10/ 1/35 1 .115. 59 177 . 25 425 . 44 99201. . 0;
57 11 / 1/35 1115. 09 473 . 91 441. ' 2 29120 . 09
93 12/ 1/;35 1115. 19 150. 15 445 . 0.4 98975 . 05
TOTAL INTEREST FOR 1989: 92151 . 12
59 1/ 1/33 1115. 59 565 . 71 41 33 92525. 52
0 2/ 1 /'3 1115. 09 557 . 95 ' 51 . 74 82074 . 9.,
' 1115. 09 -. < 51. 13 £17 ;19 . 90
.1 I � :>
4/ 1 / 6 1115. 2 057 . 1. 5 452 . 54 27141 . 2`
i .. 90 20399 . 23
,r, rr 4 '1 4 .41 . 1.
r,3 ' / 1/CG 1115. . '�- . ��
34 5/ ' /23 1115. 19 1511 . 24 455 . 45 25273. 83
55 7/ I /31 1119. 09 143 . 0 439 . 94 85' 54 . 19
3/ 1/30 1115. 19 14 .; . 24 472 . 45 85292 . 44
21/ 1 /25 1115 . 59 35 . 1,`_' 4', ' 0fl 84014. 14
1115 . 19 C29 . ' 2 409 . 57 24334 . 97
(75; 11/ 1 /9 5 11.15. 09 132 . `, _ ' 27 . 11 93853 . 71
70 12/ t/�, 1125 . 53 12£ . 20 1 °1 . 79 8336 . 97
TOTAL INTEREST FOR 191;1 : 7180. 15
- 1 1/ 1/87 111 . )8 r. 0 0 525. 25 /'90 . 44 C2975 . 4°
72 2/ 1 /37 1. 115. :9 521 . 57 494 . 12 1'22 . 'S
` ' 813,92 9f
3/ 1/27 111. 5. 19 117 . 37 197 . 82 71234 . 54
;
'S4 4/ 1/37 1] 15. fi9 54 . 13 rl . .,
5 / 1/137 1115. 59 510. 37 505 . 32 30977 . '3'
r
-1 r. 5/ 1;87 111 5. r.9 �,n, . .�r r�(1° . 11 90358 . 55
77 7/ 1/87 1115. ≥5 ,02. 71 512. 92 79°55. 02
7 0/ 1/87 1115. 69 593 . 92 15. 77 7cz 8 . 85
8 9( 59_1 . 04 520 . 4579218 . 20
79 9/ 1./37 1115. J
8° 10/ 1/87 1119. 59 5'91 . 1.4 524 . 5`` 79401. ' 5
1 '
81 11/ ,1%517 1115. 19 527 . 20 5>) 49 77715 . 15
32 12/ 1/27 1115. '09 581 . 24 532 . 45 77212. 71
251
roTAL tN'cEal;;�, ; FOR 15R7 : 7254 . 07
AMORTIZATION SCHEDULE; PAGE : 7
PAT 1 DATE PAYMENT INTEREST PRINCIPAL 0:.LANC E
,, 1 n76591. 27
P3 1/ 1/88 1115. 59 579 . 2.5 ,_:, . "4
84 2/ 1/83 1115. 69 575 . 22 540 . 47 71155 . 20
85 3/ 1 /88 1115. 89 571 . 17 541 . 52 75111 , 22
85 4/ 1/83 1115. 69 557 . 08 5.40 . 8'1 75212 . 87
87 5/ 1/88 1115. 59 5'52. 97 552. 72 74, 509; 05
c5L . 2 r ' r '; l( r OS
88 5/ 1/88 1. 1. 15 . GSa >>� . b� �..� _ , �3. ��
8 7/ 1/88 1115. 89 554 . 55 511 . 01 72792 . 0,1
90 P/ 1/38 1115. 69 550 . 44 555. 25 72< 21. 79
91 9/ 1/('3 1115. 59 546 . 20 19 . (1:9. 72257 . 10
92 10/ 1/33 1115. "9 541 . 93 577 , 75 71507 . 84
93 11 / 1/30 1115. 59 537 . '≥.. 57,'.1 . x,; 71105. 43
94, 12/ 1./38 1115. 69 533. 29 502. . 40 70523 . 02
TOTAL INTEREST FOR 1982 : 5,578 . 55
95 1/ 1/89 11.15. 69 52.8 . 92 525 . 77 69936 . 31
96 2/ 1/89 1115. 59 524 . 52 591 . 17 59345 . 14
97 / 1/39 11. 15. 64 520 . 09 595 . 3,0 '1749 . 54
98 4/ 1/89 1115. 69 515. 62 '100 . 07 ;8149 . x+,7
99 5/ 1/89 1115. 69 511 . 12 504 . 57 6754 . 50
100 1/ 1/89 1115. 69 506 . 59 509. 10 55935 . 80
1(;1 7/ 1/39 1115. 59 502. 02 613 . 57 16 .22. 13
102 0/ 1 /89 1115. 69 497 . 42 61. 8 . 27 85703 c
103 9/ 1/89 1115. 69 492 . 78 '-22. 01 (750 . 95
104 10/ 1/39 1115. 59 423 . 11 177 . 58 '14453 . 37
105 11/ 1/89 1115. 19 483 , 40 832. 29 62221 . 09
105 12/ 1/89 1115. 59 472 . 65 137. 03 53194 . 05
TOTAL INTEREST FOR 1989 : 6049 . 25
107 1/ 1/90 1115. 59 473 . 99 14: 1 . 21 52542. 24
108 2/ 1/90 1115. 59 459 . 07 145 , 52 111295 . 17
109 / 1/90 1115. 59 454. 22 `51 . 47 61244 . 1 `)
110 4/ 1/90 1115. 89 459 . 23 858 , 35 60587 . 79
111 5/ 1/90 1115. 89 154 . 41 661 . 2}•, 5992 ` . 51.
112 6 / 1/90 1115. 69 449 . 45 151 . 24 59250. 27
113 7/ 1/90 1115. 6'9 414 . 45 171 . 24 53519 . 03
114 J/ 1/90 1115. 59 439. 42 675 . 27 57912. 7,
115 9/ 1 /90 1115. `9 434 . 35 521 . 34 572.31 . 42
115 10/ 1/90 1115. 69 429. 24 193 . 45 58544 . 97
117 11/ 1/90 1115. 69 424 . 09 '91 . 80 55353. 37
118 ' 2/ 1/98 1115. 89 410 . 90 196. 70 55155 . 50
TOTAL INTEREST FOR 1990 : 5310. 81
119 1/ 1/91 1115. 59 413. 67 702. 02 51454 . 55
120 2/ 1/91 1115. 59 408 . 41 707 . 28 53747 . 28
121 3/ 1/91 .1115. 59 403 . 10 712. 59 53034 . 69
122 4/ 1/91 .1115. 59 397. 76 717. 9 '1 52215. 7'1
123 5/ 1/91 1115. 6'9 392 . 38 723. 31 51593. 45
124 5/ 1/91 1115. 59 38'5 . 95 72.8. 74 50864 . 71
1 :15 7/ 1 /91 1115. 69 191 . 49 7.34 . 20 50130 . 51
125 9/ 1 /91 11. 15. 59 375. 98 739 . 71 49190 . 80
AMORTIZATION SCHEDULE PAGE : 4
PMT JM'E PAYMENT INTEREST PRINCIPAL R?1LANCE
12.7 9/ 1/91 1 .115. 69 170. 41 745. 2; 40445. 54
122 10/ 1/91 1115. 19 3`4. 94 750. 25 47094 . 59
129 .f1/ 1 /91 1115. 59 359. 21 755. 42 47.1. 36. 2.1
130 12/ 1/91 1.115. :9 151. 54 742. 15 4'174.01
TOTAL INTEREST FOR 1991: 4507 . 75
1.31 1/ 1/92 1115. 19 347 . 82. 717. 27 P5`08. 19
, , 1115. 4q 3' ' '2 . 43 44814. 56
132 ,:� 1/92 � ��.. C.i 77 >.,
1 ?3 .1/ 1/92 1115. 69 "5. 2': 774 . 4' 44055. 13
134 4/ 1/92 1115. 59 330. 41 735. 28 43210. 85
135 / 1/92 1 ' 15. 19 ?2.4. 52 791 . 17 424 70. 12
1 1 1 4/ 1/ f:2 1115. 60 11 . 59 707 . 10 41 681 . 58
} :;7 7/ ,./'32 1115. 19 132. 41 501. 9 40872 . 50
13b `.'/ 1/92 1115. 19 104. 59 809. 10 40057. 40
139 9/ 1/)2 1115. 15 ?00. 52 215. 17 392.54 . 2?
140 : 0/ 1 /92 1115. 59 294. 41 921 . 28 31412. 95
141 11/ 1 /92 1. 11 . :0 2.81. 25 027. 44 37575. 51
142 12/ 1/02 1115. 59 2.62. ')4 933. 15 14771 . 05
TOTAL INTEREST FOR 1592: 3724 . 0
141 1/ 1/91 ) 115. 19 275. 79 930. 50 35931 . 0;
144 2/ 1/93 1115.59 219. 49 946. 20 35085. 7
145 / 1./93 1115. '.5 253. 14 252. 55 :3423 3. 21
1.41 4/ 1/93 1115. 19 255. 75 ' 59. 94 33374 . 27
147 5/ 1/93 1115. 19 250 . 31 855. 30 32509. 89
6/ 1/93 1115. 69 241. 92 071 . 07 31617. 02
140 .
149 7/ 1/93 1115. 59 237. 2. .,:. 779 . 41. ?t075Q . 6.1
150 3/ 1/93 1115. 69 230. 6'3 185. 00 29073. 41
151 9/ 1/01 1115. 59 224. 05 091 . 54 289°1 . 97
152 10/ 1/53 1115. 69 217. 35 998. 33 28093. 64
153 11/ 1/9:3 11. 15. 55 2. 10. 63 905. 06 27178. 5:'
154 12/ 1/93 11 '_5. 69 203. 84 911. 85 2'215. 73
TOTAL I1TEREii FOR 1993: 2823. 15
155 1/ .1 /94 1115. 69 197. 00 510. 49 25349. 04
15> 2/ 1/94 1115. 61, 190. 11 925. 50 24422. 41
157 3/ 1/94 1115. 1) 162. 17 012. 52 23422. 94
15 4/ 1/94 1115. 19 171. 17 939. 52 22.550. 42
1'59 5/ 1/14 1115. 59 150. 11 946 . 55 21603. 66
110 ;/ 1/94 1115. 4.9 152 .'3 953. 46 20150. 20
1 ;1 7/ 1/94 1115. 49 154 . 98 950. 01 19149. 39
11:? t / 1/94 1115. '3 147. 67 069. 02 18721. 37
113 9/ 1/94 1115. x;5 140. 41 975. 28 17745. 05
154 10/ 1/9' 1115. '0 1 :31. 10 P2 . 5`) 1.46751. 50
1≥5 11 / 1/94 2115. 6.,; 175. 73 989. 95 15773. 54
165 32/ 1/94 1115. '0 13R. 30 997. 39 14775. 15
TOTAL INTEREST FOR 1954: 1097. 70
157 1/ 1/55 1115. 60 110. 42 1004 . 07 13771 . 29
AMORTI'L?'T I ON SCHEDULE PAGE : 5
P'•1T Y 3A'1'E PAYNIENT INTERF.gT PRINCIPAL 9ALANCE
113 ;i/ 1 /95 1].1. 5. 49 101. 22 1012. 41 12758 . 7
1669 :1/ 1 /95 1115. 49 95. ;9 1020. 00 31733. 87
170, 4/ I/0r 1115. i9 88 . 04 1027. 45 1071.1 . 22
:. .. ,
171 `/ 1/95 1115. 49 80. 33 1035. 14 9475. 81
172 4/ 1/95 1115. 19 72 . 57 1043. 12. 8112. 74
17- 7/ 1/95 111c . 19 14 . 75 1050. 94 7531 . 90
174 8/ 1/95 1115. 59 54. F4 1058. 83 4522. 97
175 5/ 1/95 1.115. 49 48. 92 105'.77 5453 . 20
171 1(0/ 1/95 1115. 49 40. 92 1074 . 77 4381 . 43
177 11/ 1/95 11.15. 69 32. 24 1022. 83 1298. 40
378 12/ 1/95 1115. 59 24. 74 1090. 95 2207. 55
TOTAL INTEREST FOR 1995: 819. 78
179 I / 1/91 1115. 49 11. 55 1099. 13 1108 . 52
1.30 2/ 1/95 1115. 59 8 . 31 1107 . 32 1 . 14
TOTAL 1ATEREsi FOR 1994: 24 . 87
TOT!\L 1NTEREST 90825. 14
UNITED STATES OF AMERICA
STATE OF COLORADO
COUNTY OF WELD
INDUSTRIAL DEVELOPMENT REVENUE BOND
(LASALLE MEDICAL CLINIC PROJECT)
No. R-1 $110 ,000
Weld County, Colorado, a political subdivision of the
State of Colorado and a body corporate and politic , ( "County" ) ,
for value received , hereby promises to pay to the order of United
Bank of LaSalle , in LaSalle , Colorado ( the "Bank" ) , or registered
assign , from the source and in the manner hereinafter provided ,
the principal sum of
ONE HUNDRED TEN THOUSAND DOLLARS
( $110 ,000)
with interest thereon at the rate of nine per centum ( 9% ) per
annum, (which interest rate is subject to adjustment in the Event
of Taxability as hereinafter provided) payable in monthly install-
ments of principal and interest , commencing on the first of every
month each year according to Schedule 1 attached to this Bond and
made a part hereof; both the principal and interest installments
are payable in lawful money of the United States of America at
United Bank of LaSalle , LaSalle , Colorado, or at such other place
as the Bank may designate in writing.
This Bond is issued by the County pursuant to the County
and Municipality Development Revenue Bond Act, Title 29 , Article
3 , Part 1 , Colorado Revised Statutes 1973 , as amended , ( "Act" ) for
the purpose of financing the cost of acquiring , improving and
equipping a building and all necessary and appurtenant real and
personal properties ( such property being subject to depreciation
under Section 167 of the Internal Revenue Code of 1954 , as
amended , ) whether or not now in existence , constituting primarily
- 1 -
a medical facility with the remaining space leased for business
and commercial purposes located within the County ( "Project" ) .
This Bond is further issued in accordance with an Ordinance of the
Board of County Commissioners of the County, adopted and approved
on _, 198_, and is a special , limited obligation of the
County , payable soley from and secured by a pledge of payments to
be made to the County pursuant to a Loan Agreement, dated as of
_, 198_, and entered into between Eugene J . Hesse , M.D.
( "Borrower" ) , the Bank and the County ( "Loan Agreement" ) . The
Bank has advanced the principal amount hereof to the Borrower, on
behalf of the County, and , pursuant to the Loan Agreement, the
Borrower has covenanted to repay the funds , together with interest
thereon, in installments which will be sufficient to pay, when
due , the principal of and interest on this Bond . The payment of
principal and interest is further secured by a Combination Mort-
gage and Security Agreement, dated as of _, 198 , and
entered into between the Borrower and the Bank ( "Mortgage" ) .
Installments of principal are subject to optional
redemption prior to maturity at the option of the County (on the
request of the Borrower) , on any interest payment date, in numeri-
cal order of payment, at a redemption price equal to 100% of such
principal amount and accrued interest to the date of redemption,
without redemption premium.
The Bond is further subject to prepayment in whole ,
upon the occurrence of certain events of damage , destruction
or condemnation to the Project , all as specified in the Loan
Agreement .
From and after the effective date of the Determination
of Taxability as defined in Section 1 .06 of the Loan Agreement,
whereby the interest accruing on this Bond becomes includible in
the gross income of the holder (other than a substantial user of
the Project or a related person) for the purpose of federal income
taxation, this Bond shall bear interest at the rate of eighteen
percent ( 18 .00% ) per annum and the monthly payments shown on
Schedule 1 shall be adjusted accordingly.
- 2 -
All of the agreements , conditions, covenants , provisions
and stipulations contained in the Loan Agreement are hereby made a
part of this Bond to the same extent and with the same force and
effect as if they were fully set forth herein . If a default
occurs under this Bond , or under the Loan Agreement or Mortgage
and is continuing for 30 days , then the Bank at its option may
declare immediately due and payable the principal amount of this
Bond and interest accrued thereon to the date of declaration of
such default, together with any reasonable attorneys ' fees incurr-
ed by Bank in collecting or enforcing payment thereof , whether
suit be brought or not, and all other sums due hereunder or under
the Loan Agreement or Mortgage , anything herein or in the Loan
Agreement to the contrary notwithstanding , and payment thereof may
be enforced and recovered in whole or in part, at any time by one
or more of the remedies as set forth in this Bond or in the Loan
Agreement .
This Bond and the interest hereon do not constitute
a debt or general obligation of the County, within the meaning of
any constitutional or statutory limitation, and do not constitute
or give rise to a pecuniary liability of the County or a charge
against its general credit or taxing powers . This Bond and the
interest thereon are special obligations payable solely from the
revenues derived from the Project pursuant to the Loan Agreement,
the payments under which will be sufficient to pay the principal
of and interest on and certain fees and expenses in connection
with this Bond as the same become due and payable . The holder of
this Bond shall never have the right to enforce payment hereof
against any property of the County except its interest in the Loan
Agreement, and this Bond does not constitute a charge , lien or
encumbrance , legal or equitable upon any property of the County,
and the agreement of the County to perform or cause the perfor-
mance of the covenants and other provisions herein referred to
shall be subject at all times to the availability of revenues of
the Project or other funds furnished to the County in accordance
with the Loan Agreement , sufficient to pay all costs of such
performance or the enforcement thereof .
- 3 -
IT IS HEREBY CERTIFIED AND RECITED that all conditions ,
acts and things required to exist, happen and be performed prece-
dent to or in the issuance of this Bond do exist, have happened
and have been performed in regular and due form as required by
law.
IN WITNESS WHEREOF , the County has caused this Bond to
be duly executed under its seal .
Dated: _, 198_.
WELD COUNTY, COLORADO
By
Chairman, Board of County
Commissioners
ATTEST:
County Clerk and Recorder
( S E A L )
- 4 -
( FORM OF LEGEND)
The security evidenced hereby was issued and deliver-
ed without registration under the Securities Act of 1933 , as
amended , or other securities laws , in reliance upon the availabil-
ity of an appropriate exemption from any registration otherwise
required and the representation of the purchaser that the security
was being acquired solely for investment and not with a view to
distribution or resale . Said security shall not be sold , pledged ,
hypothecated , donated , or otherwise transferred , whether or not
for consideration, by the purchaser except upon the issuance to
the County of a favorable opinion of counsel and/or submission to
the County of such other evidence as may be satisfactory to them,
in either case , to the effect that any such transfer shall not be
in violation of the Securities Act of 1933 , as amended , or other
applicable law.
( END OF FORM OF LEGEND)
PROVISIONS AS TO REGISTRATION
The within Bond may be registered , as to principal
only , in the name of the Holder on the Bond Register kept by the
Treasurer of Weld County, such registration being noted hereon by
the Treasurer of Weld County in the registration blanks below,
after which no transfer of this Bond shall be valid unless made on
the Bond Register at the request of the Registered Holder or
attorney duly authorized , and such transfer is similarly noted in
the registration blanks below , but it may be discharged from
registration by being so transferred to bearer, after which it
shall be transferable by delivery, but it may be again and from
time to time registered as before. The registration of this Bond
as to principal shall not restrain the negotiability of the
coupons by delivery.
Name of
Date of Registered Signature of
Registration Holder Trustee
United Bank of La Salle,
National Association
La Salle , Colorado
Hello