HomeMy WebLinkAbout810392.tiff KUTAK ROCK & HUIE ATLANTA
EUGENE A.REIOY
JOHN R.MORAN,JR. 1330 COLORADO NATIONAL BUILDING 1200 STANDARD FEDERAL
EUGENE L.HOHENSEE SAVINGS BUILDING
KENNETH J.STUART DENVER,COLORADO 80202 ATLANTA,GEORGIA 30303
DIRK W. d.ROO5• (q Oq)522-SJOO
JAMES D.ARUNDEL.
WILLIAM C.GORHAM (303)534-1330 LOS ANGELES
JAMES R.BLACK SUITE 820
ROBERT J.AHRENHOLZ' BOO WEST 6 STREET
ROBERT D. IRVIN LOS ANGELES,CALIFORNIA 90017
GREGORY V.JOHNSON (213)627-8330
JAMES E.THOMPSON
FREDERICK T.BERHENKE
MINNESOTA
BLUETTE N.BLINOFF 700 PILLSBURY CENTER
RANDALL W. PERKINS MINNEAPOLIS,MINNESOTA 55902
CHARLES L.BORGMAN♦ (512)330-7000
MARY L.GROVES December 16 , 1981
THOMAS A.GORDON OMAHA
STEPHEN C.PARKER THE OMAN BVILDI ET
WARREN J.LUDLOW 1630 FARAM STREET
DAVID A.CARRERA OMAHA,NEBRASKA
0-60 08102
THANE R.HODSON X902)398-6000'
SYDNEY BARTON
DAVID W. MILLER WASHINGTON
1101 CONNECTICUT AVENUE,N.W.
WASHINGTON,D.0.20036
'NOT ADMITTED IN COLORADO (202)B2B-2400
Mr. Donald Warden
Budget Director
Weld County, Colorado
915 10th Street
Greeley, Colorado 80631
Re: Industrial Development Revenue Bonds
Weld County, Colorado
Platte River Steel Company, Inc.
Dear Don:
Enclosed is a letter from Commercial National Bank con-
firming their willingness to purchase the bonds referred to
above. The letter should be supplemental to the application
which was delivered to you by John Houtchens last week.
If I can be of any further assistance, please contact me.
Sinc ely,
4:772 ,49
James D. Arundel
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Enclosure
c Mr. John Houtchens Mtin
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810392
THE
DANK.
Commercial National Bank
200 Main Street
Post Office Box 1331
Little Rock,Arkansas 72203
501 378-3000
December 9 , 1981
Board of County Commissioners
Weld County Colorado
Greeley, Colorado
Re: Platte River Steel Company, Inc.
Industrial Revenue Bonds
Gentlemen:
This letter is to confirm to you that our bank is willing
to purchase the bonds of the Platte River Steel Company,
Inc. as above set out. It is our understanding that those
bonds will aggregate $1.5 - $2 million with a term of fifteen
years and rate of interest of 12%. We also confirm that
we are a sophisticated investor with respect to the purchase
of this type of investment and that we are familiar with
the operations of the parent company, Arkansas Foundry
Company, and the Platte River Steel Company, Inc.
We have complete financial information on the Arkansas
Foundry Company, which latest financial statement is dated
November 30 , 1980 , and we believe the ratios on their
statement are very satisfactory based on averages for the
industry. Earnings have been above average and their debt
to worth is well within line of an industry of this type.
I have been in a position to observe this company through
many years , and believe their management is very capable
in operating this business.
If you need any further information from us with regard
to this purchase and our analysis of the company, please
feel free to call on us.
Sincerely yours
allace Cunningham
�� _airman
_---B ecu '_Committee
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