HomeMy WebLinkAbout840710 RESOLUTION
A RESOLUTION OF THE COUNTY COMMISSIONERS OF THE COUNTY OF WELD,
COLORADO MAKING CERTAIN FINDINGS AND DETERMINATIONS IN CONNECTION
WITH THE ISSUANCE OF APPROXIMATELY $660, 000 PRINCIPAL AMOUNT OF
REVENUE BONDS (WELD MENTAL HEALTH CENTER, INC. PROJECT) SERIES
1984 AND AGREEING TO THE ISSUANCE THEREOF.
WHEREAS, the County of Weld, State of Colorado (the County)
is authorized by the County and Municipality Development Revenue
Bond Act, constituting Title 29, Article 3, Colorado Revised
Statutes (the Act) , to acquire, own, lease, improve, and dispose
of properties to the end that the County may be able to promote
industry and develop trade or other economic activity by inducing
profit or nonprofit corporations, federal governmental offices,
hospitals, and agricultural, manufacturing, industrial ,
commercial, or business enterprises to locate, expand, or remain
in the State of Colorado, to mitigate the serious threat of
extensive unemployment in parts of the State, to secure and
maintain a balanced and stable economy in all parts of the State,
and to further the use of its agricultural products or natural
resources ; and
WHEREAS, representatives of Weld Mental Health Center, Inc .
(the Corporation) , a Colorado Nonprofit Corporation described in
section 501 (c ) ( 3 ) of the Internal Revenue Code of 1954 , as
amended (the Code ) and exempt from tax under section 501 (a) of
the Code, have met with officials of the County and have advised
the County of the Corporation ' s interest and need in acquiring,
remodeling and equipping facilities it currently occupies and
acquiring, remodeling and equipping additional existing
facilities (the Project) within the County, subject to the
willingness of the County to finance the Project by the issuance
of revenue bonds or other obligations pursuant to the Act ; and
WHEREAS, the County has considered the Corporation ' s
proposal and has concluded that the economic benefit to the
County will be substantial and it wishes to proceed with the
financing of the Project; and
340710
WHEREAS, the action herein contemplated is not prohibited by
any resolutions, ordinances or the home rule charter of the
County;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF WELD COUNTY, COLORADO:
Section 1. In order to induce the Corporation to complete
the Project within the County, the County shall take all steps
necessary or advisable to effect the issuance of revenue bonds or
other obligations in a maximum aggregate principal amount not
exceeding $660, 000, or such lesser amount as shall be mutually
agreed upon to finance the Project. No costs are to be borne by
the County in connection with this transaction.
Section 2 . Prior to execution of the necessary financing
documents as shall be mutually agreed upon in connection with the
Project and such bonds or other obligations, such documents will
be subject to authorization by Ordinance of the Board of County
Commissioners pursuant to law and any ordinances, rules or the
home rule charter of the County.
Section 3 . The Corporation has agreed to provide for
reimbursement of all expenses incurred or to be incurred by the
County related to the Project.
Section 4 . The Board of County Commissioners of the County
hereby finds and declares that the Project will meet the public
purposes set forth in the Act .
Section 5 . Nothing contained in this Resolution shall
constitute the debt or indebtedness of the County within the
meaning of the Constitution or statutes of the State of Colorado,
or the home rule charter of the County, nor give rise to a
pecuniary liability of the County or a charge against its general
credit or taxing powers .
Section 6 . Appointment of Financial Advisor/Underwriter.
Prudential-Bache Securities and the United Bank of Denver, N.A.
are hereby appointed to act jointly as financial advisor or
underwriter with respect to the bonds authorized herein .
COUNTY OF WELD
STATE OF COLORADO
(S E A L)
Chairman
Board of County Commissioners
ATTEST:
ac tuqline J nson, Pro-Tem
County Clerk �� 22ui1U
Gene, R. Brantnej
)
'fiuck,9arlson /„
/
,7-724-4., �, /I`7a.t'
APPROVED, AS TO FORM: hn T. Martin
ounty Attorney
022284
a •SENDER:Complete Rene 1, 2, 3,and 4.
3 Add your address In the"RETURN TO"
P 206 961 975 & ewe on reverse.
(CONSULT POSTMASTER FOR FEES)
RECEIPT FOR CERTIFIED MAIL neyUwldnp service u requested(check one).
NO INSURANCE COVERAGE PROVIDED— R-C...
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NOT FOR INTFRNATInNaI men ❑ Shawb wham.dateand ,antl addroes of delivery e
2. ❑ RESTRICTED DELIVERY
ERICK D. STOWE, P.C. Memakra Others PFar dines inmak. --e
1666 SO. UNIVERSITY BLVD. ERICK D. STOWS, P.C.
DENVER, CO 80210 _
1666 SO. UNIVERSITY BLVD.
DENVER, CO 30210
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TOTAL POSTAGE AND FEES $ S 6. ADDRESSEE'S ADDRESS 9 �
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Weld Mental
Health Center, Inc.
1306 11th Avenue Greeley, Colorado 80631 353-3686
February 17, 1984 " 1` - '•."
iL.84 ' F
1 u
Gh.S!L`i, C..._l).
Norman Carlson, Chairman
Weld County Commissioners
Centennial Center
915 10th St.
Greeley, CO 80631
Dear Mr. Carlson:
The Weld Mental Health Center Board of Directors hereby requests the
Weld County Commissioners to authorize the issuance of industrial revenue
bonds to enable the Weld Mental Health Center Board to finance the purchase
of properties located at 1306 11th .Avenue and 510 13th Avenue in Greeley.
Acquisition of these properties would make it possible to control mental
health service costs and deliver the greatest amount of services to the
citizens of Weld County. If you approve, the total amount for the issue
would be $642,000.
Thank you for your attention to this important matter.
Sincerely,
74
'Bernard C. Kinnick,• Treasurer
Weld Mental Health Center
Board of Directors
BCK:ls
Branch Offices: Stepping Stone 353-3686, In-Touch Counseling 857-2723, Horizons 353-3900
ORDINANCE NO. 125
The copy of Ordinance No. 125 signed June 27 , 1984, was in
error.
A correct copy was signed on July 25 , 1984, and is being filmed
with that day' s business . The correct copy was published in
the La Salle Leader on July 26 , 1984 .
•
Affidavit of Publication
..,e----, •
STATE OF COLORADO. 1 ,
1 as.
•
County of Weld. •
5",, •
•Of County
of eeeMaWdg hen pegs 4 ' tnt-danael
said County et Weld being duly s torn. say that PRINCIPAL Sur: n- and;et fact at
I er - have bee*obtA
Iry to by
p—�p/n ` / Issuer to the for
16 W^^ �v facilii
Veld County, in the.State of aolerae, (the "lseupn"X, for. and ndpu*Julp each![
that the same is a week) newspaper value-received. hereby promises to gaeeyy, Agilely free the each veld the
7 of general [ands provided therefor. as hmaelY�ter set fetch: ;teiiie "Preis
tdradarm d tutted d published in the Letitia Owner.(s iii d, ehsY), or !opted the AAreasent'y Wow
CA. 19x4, and • J
am! }s .}i Sum (specified Rove) it‘ soups pi the adopted pr tee
town d aCJ�2.eK{"� Stifle of Amertie, ee'the status Rate.(speetfl cols Must (the iii
interest thereon- free the date hereof to the Mato! tagand t1the "I by
m Said county and stale: that the notice or adver except if tenoned Priori.thereto.
the l per letAMMO
Intmy of sAYate Sarin/areOnly* .tones y
IWmenL of which the annexed is a true :oPY• end(sp the
l above), Jill cols t maqn ee din-ftret 'insecure„ L
has beenern cdine a day the date of of Me Minna•*rein. SeMity A(qe..g
published in said weekly newspaper MICR Yee after date hereof, the Trustee-Attie
If ups presentation at strreiy-the gas 11 c of this bed..et bed OrdinlAti a
for / consecutive not pets as provided:hen•i interest Mall c paid is fell.ther @ hereby made; r
the ems Interest Rate until the principal is !e tall. property p
wain: that the rattn was published in the .. o Scads, the nuodS
regular and enure issue of every number of saidSonde of thin issue etudes an et before pelt' ve t tt no rights of
not subject to redemption f e their sin a July andtr. •f I
newspaper darn thesates. J Those !1996? re this ass Optimal
a Jots 1. IMO the Lawtltti:of 9 period and tune of ;cubit. to owe fasunie�s a
canon of said notice and in the newspaper thine r July 1, 1996 er tag dates
se July t-MS tad f#r Obligations et t
enter respective inanity re MS 1 a Me load Maus a
?taper end not m a supplement thereof. ,hat the dab thereafter at a pr
ise interest
rix pen thereof plus plus aaoraed ieternat.s W RAM aced at a the end
a
tint publication at said notice was contained in of.redaptiee plus eyremis of one percent (1i) of the print 1 •
the issue of a - wspoper bearing date. the art to be so redesid tad these Bowie of this tesue, In cue an
a Jul 1, 1997s end thereefter, are subject to optima leen Apreesint o
day a A. 19 redipteon on July 1, 1996 and es any interest whine gate Deeds Outst•mdiry
thereafter es-price equal to the petneipal amountr hereof plus prior co t ste
and the lastPu •'then reef, in thynrsue of accrued interest to the date of redeeptfon without preens. effect and aobje
ape: beano date thebut no Register.
pre
Cday d all- brae ec this ices subject are r nee a redemption se prior d to enforce the pre
'' f,� their respective magi dates are redeemable in inverse order gorging s,rE r i
1 _ ""'j I Nat the said of maturity.and by lot within a satwity.
(/ With ale°.
This load .limy be redeemed is part issued in a if remitted to 'Yn
r denomination which is en integral multiple of 15,000. Ia such previsions -Oh
case this lend .shall be surrendered .in the manner previded let or of any nuns
transfer of ownership. Upon payment a the redemption price the altered by
thirff
hes been published continuously and uninterrlpt• Registered Meer shall receive a new peed or Sends of wtherind least 66-2/Se a
edly during the period of at least Weytwa cop deaoetationr lit aggregate principal emmett equal to the Outstanding-Se
secutive weeks nett unredeemed portion of this Rend. It is berm[
prior to the first issue thereof - '�'qrq
' sst y Ci IS =REST MCOS Tom minim novisi its or lags Cauiasiaarr=of
contenting said natioe or advernsemea thous Ruin Sly roam OR THE REVSRSS RRRmr. eligible 'Henn
referred to: and that said newspaper • that the Mohan
time of each of the was at the Ihip.ltend shall not be valid.or bacon obligatory let ay. of the Prefect S
public-¢dons of said notice. pwwppssee or be entitled to say security or benefit' under the purposes eta MI
duly qualified ler that purpose within the mean- OOrdlvsce authorising the imeu•nce of this Venn until the required to betel
certificate of autheoticetion hereon shall hew been signed by end the series.
Ina of an act, entitled. "An Act Concerning Legal the.Registrar. base happened-au
fora and Wenner
Notices. Advertisements and Publications, and (Ulan* of this page intentionally'left blank.)- - series of-IMS
Issuer within t
the Fees of Printers and Publishers thereof. and IN TESTIMONY WHEREOF. Meld County. ie the State of Calasse. elrtun. inmate
to Repeal all Acts and Parts of Acts in Conflict has caned this bed to be signed in ice name and a its behalf
with the teesimile signature of the CheYrsen of the'NOWA of 1Lf.e-eat
with the Provisions of this Act." approved April 7, County Commissioners, to be sealed with e facsimile of its seal, of the Iaaeer
and to attested and su entersigned with the manual signature of Greeley,retreat
crew]
1921. and ell amendments thereof. and particu• the County.Clerk and Recorder. ttheeat
laxly as amended by an net approve March 3D. WOO COURT'[ a authorized qp
19 STATE Or COLORADO. -duly a act ['proved May 1931. - _ - duutlprie.d metes
(Toenails Bieeatute) of Jf.Snmcure
_ .[, (?/SEAL ) y Ceefrnae of the Reed wittcee inateme
( ggdt. with. the. ..Wi
Pub- r of County Caissioners identification i
Ansas' Am OflUN2lRSIQI®: Y a treat@ the ne
. settlers. dal.:.
Treaters shall
Subscribed end
s��sworn to before me this ����,,[[ Manual e."etire master eprt
day of 0 A.D" l9SZ,L snooty tarn Recorder defray any no
// 0 (� ]// J � [o,-he
Sal-A-v .1-1 7�•� "--(-/C., Dated: registration aeton or
CRIIPIGYR OP'AUIMORIWtton .' Rsgastr•e
..... / [ shall authentic
u /�/ G� this pond is one of.the series issued pursuant to the Ordinance Son-or lends el
My commnraian erperK Al therein described. Printed ow tba!mart hareefaa-;AenimPle ',tin Rasa norms
cat of the opinion- of bead ,edmrel. Zeta D. RE y A the..Reed or se
Newry Public _.Weh1 feral Corporation, Deaver. Colorado, • •!seed copy ,of Tramper
fp she
which@ fated the-aate it original issuance of the Donis therein .Tramper ARe s
Macedon,, is ea file via the undersigned. - this lend.dun
of say notice 4
0Masm iste CREELS( .te'beted ford a
es Tontse-Registrar legistered@
Benda f am eta
N. or rmd,_Jlt .,.the._perac
•
ces
-"$ection.l., :_;Approvels and Authorizations. The forms of (a)(:If any such.registered,owner shall exercise,this
the.Indenture, the Loan Agreement, the Note and the Mortgage are option, and as a result thereof any Bonds shall be redeemed,;all'
hereby--'approved. The Chairman of the Board end the Clerk are the Bonds of this`series shall be redeemed on July-1,'1986 or-anyhereby authorized 'and directed to execute the Indenture end the - biennial redemption date thereafter, for the price stated above;'
Loan-Agreement and affix the. seal of the. Issuer thereto and ' .
further -to. execute and authenticate such other documents, (b) Written notice of the owner's or owners' intention
instruments or certificates'as are deemed necessary,or desirable 'to exercise such mandatory prepayment mustbe delieetes1 to the
by-bond counsel In order to issue and -secure the Series 1984 Issuer and Borrower at least ninety. (90) days_prior toj the
'Bonds. , Such documents are to be execute in substantially the proposed mandatory prepayment date;
form hereinabove approved, provided that such documents may be
completed, corrected or revised as deemed necessary by the (c) The mandatory prepayment price shall be payable
parties and approved by the County Attorney in order to Carry out solely from revenues derived from the Project; and
the purposes of this Bond Ordinance. Copies of all of the -
documents-shall be delivered, filed and recorded as provided (d) . If the Borrower finds another party interested in
therein. purchasing the Bonds, the owner or owners-shall cooperate in the
a The proper officers of the Issuer are hereby authorized end proper and legal conveyance of the same subject to any terns and
directed to prepare-and furnish to bond Connect certified copies conditions contained in the Bonds or printed thereon. . .
of all proceedings and records of the Issuer relating to the
Series 1984 Bonds and such other affidavits and'certificates as Optional Redemption of Bonds. Bonds of this issue
may be required to show the facts relating to the euthorieation maturing on or.before July 1, 1989. are not redeemable in advance
and issuance thereof as such facts appear from the books and of their respective maturities. Bonds-maturing on July 1, 1990
records in such officers' custody end control or es otherwise through July 1, 1996 are redeemable at the option of the Issuer
.known to them. All such certified copies, certificates and (on the request of the Borrower), on July 1, 1989, and on any
affidavits, including any heretofore"furnished, shell constitute interest payment date thereafter at a price equal to the
representations of the Issuer as to the truth of all statements principal mount thereof plus accrued interest to the date of
.contained therein. : redemption plus a premium of one percent (1T) of the principal
amount to be so redeemed and those Bonds matur5ing on July 1,
The approval hereby given to the various documents referred 1997 and thereafter are subject to redemption on July 1, 1996,
.to above includes an approval of such additional details therein.• and on any interest payment date thereafter, at a price equal to
including such amendments or modifications as may be necessary or the principal amount thereof plus accrued interest to the date of
desirable, as may be necessary end appropriate for their redemption without premium. All Bonds of this issue subject to
completion, including interest rates and any numbers derived optional redemption prior to their respective maturity dates are
therefrom or deletions therefrom and additions thereto as may be redeemable in inverse order of maturity .end by lot within a
approved by bond counsel and the County Attorney prior to the maturity.
execution of the documents.- The execution of any instrument by
the appropriate officers of the Issuer herein authorized shall be partial Redemption of Bonds. Bonds shall becelled for
conclusive evidence of the approval by the Issuer of such redemption in part if issue in denominations greater than $5,000
instrument in accordance with the terms hereof. only in integral multiples of $5,000. If less then all of the
Section 2. The Issuer shell issue its-Outstanding- Bonds are to be- redeemed, except to-- the extent
Weld County, S. Bond Colorado,Details. the
Health'Facilities Revenue otherwise provided herein,•the-Trustee shall select by lot those
o. to be redeemed-from among the Bonds then subject to redemption,
Bonds (Veld County Mental Health Center Project) Series 1984, to end for this-purpose the Trustee shall treat each Bond -as
be dated as. of July 1, 1984, as Fully Registered Bonds, in the representing that.number of Bonds which is obtained by dividing
denomination of-$5,000 or any integral multiple thereof, for the the',principal amount, of. such Bond by $5,000. Any Bond in :a
purpose, in the' form and upon the terms set forth in this Bond denoeination greater than $5,000 and to be redeemed only in part
Ordinance and the Indenture. Notwithstanding the foregoing, if shall be surrendered by the Owner thereof and the Issuer shall
necessary, the Issuer may issue a temporary bond or bonds pending execute and the Trustee shall authenticate and deliver to such
the printing of definitive bonds. Owner, without charge, a new Bond of any authorized denomination.
Principal of the Series 1984 Bonds shall be payable to the requested by such Owner in an aggregate principal amount equal to
P Y the unredeemed portion of the Bond so surrendered.
owners ,of the Bonds (the "Owners") upon presentation end
surrender thereof for cancellation at the principal office of the:.. Section 3. Form end Execution ofSeries 1984 Bonds. The
Trustee, and shall mature on July 1 in the years and principal Series 1984 Bonds shall be signed by the facsimile signature of
amounts set forth below. Interest payments shall be made to the the Chairman-of the Board of County Commissioners, sealed with a
person whose name appears on the Bond registration books of the facsimile impression of the seal of the Issuer and countersigned
Trustee as of the close of businesa•on the fifteenth(15th) day by the manual signature of the County Clerk. Should any officer
of the calendar month next preceding an interest payment date, whose manual or facsimile signature appears on said Bonds cease
such interest to be paid by check or draft mailed to such Owner to be such officer before delivery of the Bonds to the purchaser,
at Iris or her address as it appears on such registration books as such Bonds with the signatures thereto affixed may, nevertheless,
herein provided at the respective rates per annum, in the be authorised by the Trustee, and delivered, and may be sold by
following years and,8rincipel amounts of the Series 1984 Bonds, the Issuer, as though the person or persons who signed such Bopds
set forth below: had remained in office.
Interest . The Series 1984 Bonds shall be in substantially the
Amount Maturity Rate following for (any blanks in the form shall be completed on the
Q
1985- 7.251 date of delivery of the Series 1984 Bonds):
w $20,000 -
20,000 1986 7.75% (Form of Bond) -
25,000 1987 - 8.251 - (Text of Fece)- -
25,000 1988 8.752 -
30,000 1989 9.25!` - UNITED STATES OF AMERICA
25,000 1990 9.50% -
35,000 1991 9.75%
35,000 1992 10.002 STATE OF COLORADO - - COUNTY OF WELD
40,000 1993 10.25%
40,000 - 1994 10.50% MENTAL HEALTH FACILITIES REVENUE BOND
45,000 1995 10.751 (WELD COUNTY MENTAL HEALTH CENTER PROJECT)
50,000 1996 11.00% SERIES 1984 •
55,000 199? 11.25% -
55,000 " 1998 11.50%
70,000 1999 11.50% No. R- $
80,000 2000 11.50% --
INTEREST. MATURITY ORIGINAL CUSI?
ISSUE DATE NUMBER
Mandatory Redemption of Bonds. The Bonds of this issue RATE DATE
are also subject to mandatory prepayment prior to maturity et the July 1, July 1, 1984
option of the registered owners thereof at a price equal to the
principal amount thereof plus accrued interest to the date of
redemption without premium on July 1, 1986 and biennially .
REGISTERED ObINER:
thereafter,.- in the following manner and on the following
conditions: - Continued on page-U
Weld County Legal Notice .'wr: a t x , w <_ f
This Bond'is one of a duly euthoriae"d serieapof special
obligation Bonds of an aggregate principal amount of-$650 OUO:.in
Continued from page 4 the-..denomination of $5,000 or any"integral multiplel: thereaf,
PRINCIPAL SUM: ' numbered from R-1 upwards in order of maturity,:and of like tenor
and effect except as to serial number and maturity. all:of which
' have been'suthoriaed by law to be issued and have been issued-or
are-to be issued for the purpose of funding a''loin' from the
Issuer to the Borrower to enable the Borrower to acquire, remodel
Weld County, in the State of Colorado (the "Issuer"), 'for and equip facilities it currently occupies and acquire, remodel
value received, hereby promises to pay, solely from the special and equip additional existing facilities, within the County of
funds provided therefor, as hereinafter set forth; to 'the Weld (the "Project'), pursuant to a Loan Agreement (the Loan
Registered Owner (specified above), or registered assigns, the Agreement) between the Issuer and the Borrower dated as of July
Principal Sum (specified above) in lawful money of the United 1, 1984,and a Bond Ordinance of the Issuer finally passed and
States of America, on the Maturity Date (specified above).- with adopted prior to the issuance of the Bonds,, and an Indenture of
interest thereon from the date hereof to the Maturity Date, Trust (the "Indenture") dated as of July 1, 1984 'duly executed
except if redeemed prior thereto, at the per annum Interest Rate and delivered by the Issuer to the Trustee. ;-The.Bonds of this
(specified above), payable semiannually on the let day of January Series'are'equally and ratably secured by the Loan'Agreement, the
and the let day of July of each year, commencing on the first Indenture, the Bond Ordinance and a Combination Mortgage and
such date after the date hereof, in the manner provided herein. Security Agreement dated as of July 1, 1984, from the:Borrover to
If upon presentation at maturity.the principal of this Bond is the Trustee (the 'Mortgage'), to which Loan Agreement,-Indenture.
not paid as provided herein, interest shell continue thereon at Bond Ordinance and Mortgage and amendments thereof reference is
the same Interest Rate until the principal is paid in full. hereby made.for,e_feacription and limitations of the revenues and
property pledged and mortgaged to secure the payment of the
Bonds of this issue maturing on or before July 1, 1989 are Bonds, the nature and extent of the security thereby created, the
not subject to redemption prior to their respective maturity rights of the Registered Owners of the Bonds, the conditions of
dates. Those Bonds of this issue maturing on July 1, 1990 the issuance of additional parity lien bonds, the rights, duties
through July 1, 1996 are subject to optional redemption prior to and immunities of the Trustee, and the rights, immunities and
their respective maturity dates on July 1, 1989 and on anyobligations of the Issuer thereunder. Certified copies of the
interest payment date thereafter at a price equal to the Bond Ordinance and executed counterparts of the Indenture. Loan
principal amount thereof plus plus accrued interest to the date Agreement and Mortgage are on file at the office of the Trustee
of redemption plus a' premium of one percent (1L) of the principal end at the office of the County Clerk.
amount to be so redeemed and those Bonds of this issue maturing In case an Event of Default as defined in the Indenture or
on July 1, 1997, and thereafter, are subject to optional Loan Agreement occurs, the principal of this Bond and all other
redemption on July 1, 1996 and on any interest payment date Bonds Outstanding may be declared or may become due and payable
thereafter at a price equal to the principal amount thereof plus prior to the stated maturity hereof in the manner and with the
accrued interest to the date of redemption without premium. effect and subject to the conditions provided in the__Indenture
but no Registered Owner of any Bond shall have eny,'right to
All Bonds of this issue subject to'optional redemption prior to enforce the provisions of the -Indenture, Loan Agreement or
their respective maturity dates are redeemable in inverse order Mortgage except as provided in the Indenture.
of maturity and by lot within a maturity.
With the consent of the Issuer and Trustee and to the extent
This Bond may be redeemed in part if issued in a permitted by and as provided in the Indentures the terms and
denomination which is an integral multiple of $5,000. In such provisions of the Indenture, the Loan Agreement or the Mortgage
case this Bond shall be surrendered in the manner provided for or of any' instrument supplemental thereto may be modified or
transfer of ownership. Upon payment of the redemption price the altered by the assent or authority of the Registered Owners of at
Registered Owner shall receive a new Bond or Bonds of authorized least 66-2/3% in aggregate principal amount of the Bonds then
denominations in aggregate principal amount equal to the Outstanding thereunder.
unredeemed portion of this Bond.
It is hereby'certified and recited and the Board'of County
REFERENCE IS HEREBY MADE TO THE FURTHER PROVISIONS OF THIS Commissioners of.the Issuer has found: that the Project is en
BOND SET FORTH ON THE REVERSE HEREOF. eligible "project" defined in C.R.S. 39-3-1O3(1O)(b) of the Act;
that the Issuance of the Bonds and the acquisition and completion
This Bond shall not be valid or become obligatory for any of the Project will promote the public welfare-and carry out the
purpose or be entitled to any security or benefit under 'the purposes of. the Act; that all acts, conditions -and'-things
Ordinance authorising the issuance of this Bond until the required to he done precedent to and in the issuance of this Bond
certificate of authentication hereon shall have been signed by end the series of which it is a part have been properly done,
the Registrar. - have happened end have been performed in regular and due time,
form and nanner as required by law; and that this Bond and the
(Balance of this page intentionally left blank.) series of which it is a pert does not constitute a debt of the
IN TESTIMONY WHEREOF, Weld County, in the State of Colorado Issuer within the meaning of any constitutional, statutory or
has caused this Bond to be signed in its name and on its behalf
, charter limitations.
with the facsimile signature of the Chairman of the Board of This Bond is transferable only upon the registration books
County Commissioners, to be sealed with a facsimile of its seal, of the Issuer maintained by the Registrar by United Bank of
and to be attested and countersigned with the manual signature of Greeley,'Greeley, Colorado or its successor, as Transfer Agent,
the County Clerk and Recorder. at the request of the Registered Owner or his or its duly
WELD COUNTY authorized attorney-in-fact or legal representative, upon
STATE OF COLORADO surrender hereof together with a written instrument of transfer
'duly executed by the_ Registered Owner or his or its duly,
authorized attorney-in-fact or legal representative with guaranty
(FACSIMILE) By: (Facsimile Signature) of :signature satisfactory to the Transfer Agent, containing
( SEAL ) Chairman of the Board written instructions as to the details of the transfer, along
of County Commissioners identification
the. -social security number or federal.. employer
ATTESTED AND COUNTERSIGNED: identification number of the transferee and, if the transferee is
a trust,,the names and social security numbers of the settler or
settlors and beneficiary or beneficiaries of - the trust..
Manual Signature Transfers shall be made at the expense of the transferor, and the
County Clerk end Recorder Transfer Agent may also require payment of a em sufficient to
defray any tax or other governmental charge that may hereafter be
Dated: imposed in connection with any transfer of bonds. : No
registration or transfer of this Bond shall be effective until
CERTIFICATE OF AUTHENTICATION entered on the registration books of the Issuer maintained by the
Registrar and Transfer Agent. The Registrar and Transfer Agent
shall authenticate and-deliver to the •,ew registered owner a new
This Bond is one of the series issued pursuant to the Ordinance Bond or Bonds of the same aggregate principal amount,,featuring in
therein described. Printed on the reverse hereof i+.the complete- the same year;and bearing interest at'the lame par annum rate ai
text of the opinion of bond ' counsel, Erick D. Stove, A the Bond or Bonds surrendered, Such Bond shell be dated as
Professional Corporation, Denver, Colorado, a signed copy of provided in the Ordinance authorizing the issuance hereof. The
which, dated the date of original issuance of the Bonds therein Transfer Agent shall._not be required to transfer ownership-of
described, is on file with the undersigned. this Bond during the fifteen (15) days prior to the"first mailing
of any notice of redemption or to transfer ownership of any Bond
UNITED BANK OF GREELEY .selected for redemption..o or/after the date of such mailing.
as Trustee and Registrar
The Registered Owner may.also exchange this Bond'for another Bond
• or Bonds of authorized denominations. The Issuer may deem and
treat the person in whose name this Bond is last registered upon
the booker of tee Issuer maintained by,._the Registrar ac..the
By: (Manual Signature) absolute ovner'herFBt^2erRha krpose'OE-receiving payment of the
Authorized Officer • principal of, interest on and-any premium due in connection with
(Text of Reverse) the redemption of this Bond and for all other purposes, and all
such payments so made to'such person or upon his order shall be
The principal of, interest on, and any premium due in valid end effective to satisfy and discharge the liability of the
connection with the redemption of this Bond are payable, solely Issuer or.the Paying Agent upon this Bond to the extent of the
from the special funds provided therefor, to the Registered Owner sum or.sums so paid, and the Issuer shall not be affected by any
by United Bank of Greeley, Greeley, Colorado, or its successor, notice to the contrary.
as Paying Agent. The principal shall be paid to the Registered (Assignment)-
Owner upon presentation end surrender of this Bond at maturity or
upon prior redemption. Except as hereinafter provided, the ASSIGNMENT
interest shell be paid to the Registered Owner, determined as of the close of business on the regular record date, which shill be
the fifteenth (15th) day of the calendar month next preceding the
interest payment date, irrespective of any transfer of ownership FOR VALUE RECEIVED, the undersigned sells, assigns and
hereof subsequent to the regular record date and prior to such transfers unto
interest payment date, by check or draft mailed to the Registered Owner at the address appearing on the registration books of the PLEASE INSERT SOCIAL SECURITY OR
Issuer maintained by United Bank of Greeley, Greeley, Colorado, OTHER IDENTIFYING NUMBER OF ASSIGNEE
or its successor, as Registrar. Any interest hereon not paid
when due and any interest hereon accruing after maturity shall be
paid to the Registered Owner, determined es of the close of
business on the special record date, which shall be fixed by the
Paying Agent for such purpose, irrespective of any transfer of
'ownership of this Bond subsequent to such special record date and
prior to the date fixed by the Paying Agent for the payment of
such interest, by check or draft mailed as aforesaid. Notice of
the special record date and of the date fixed for the payment of (Name end Address of Assignee)
such interest shall be given by sending a copy thereof by first- .
class, postage prepaid mail, at least ten (10) days prior to the •
special record date, to Prudential-Bache Securities, Inc., .
Anderson DeMonbrun Division, end United Bank of Denver, N.A., the attached Bond and does hereby irrevocably constitute and
Denver, Colorado, and to the registered owner of each Bond upon appoint United Bank of Greeley, Greeley, Colorado, or its
which interest will be paid, determined ea of the close of successor, as Registrar and Transfer Agent, co transfer said Bond
business on the day preceding such mailing, at the address on the books kept for registration thereof.
appearing on the registration books of the Issuer maintained by
the Registrar. Any premium shell be paid to the Registered Owner
upon presentation end surrender of this Bond upon prior (Signature of Assignor)
redemption.
NOTICE: The signature to this assignment
Notice of redemption of any Bonds of this issue shall be - must correspond with the name of
given by the Paying Agent in the name of the Issuer by sending a the Registered Owner as it appears
copy of such notice by certified or registered first-class, upon the face of the attached Bond
postage prepaid mail, at least thirty (30) days prior to the in every particular, without
redemption date, to Prudential-Bache Securities, Inc., Anderson alteration or enlargement or any
DeMonbrun Division, and United Bank of Denver, N.A., Denver, . change,whatever.
Colorado, and to the registered owner of each of the Bonds being
redeemed, determined as of the close of business on the day Signature guaranteed:
preceding the first mailing of such notice, at the address
appearing on the registration books of the Issuer maintained by
the Registrar. Such notice shall specify the number or numbers of the Bonds to be redeemed, whether in whole or in part, and the (Hank, Trust Company or Firm)
date fixed for redemption and shall further state that on the
redemption date there will be due and payable upon each Bond or [End of Form of Bond]
part thereof so to be redeemed the redemption prices set forth
hereinbefore plus accrued interest to the redemption date and
that from and after such redemption date interest on each Bond or Section 4. Determinations. It is hereby found,
part thereof so to be redeemed will cease to accrue. Failure to determined end declared that:
mail any notice as aforesaid or any defect in any notice so
mailed in resocct of any Bond shall not effect the validity of (.1 Th. Project. as more fully described in the Indenture
LEADER-HERALD July 5, 1984 Page 13
(c) The amount necessary to pay the principal of and the
interest on the Series 19P4 Bonds to be issued to finance principal
Project from the date a maximumm comprised
thereon
O0 for a total
amount and'$ to the date
of the debt seer ce payments of $
of maturity thereof; nt ual to
$96,000d)will be A Debp established Service sin r connection with the e Fund in an n debt gservice
and the Bond Fund will gibe ettablished
requirements
the Bonds paid by the purchasers of
_ ---- into which the accrued interest to be
the Bonds will be deposited;
e of the The
good wer has repair aanddeed to pa maintaininghpropers insurance;
(f) The Borrower has agreed to pay all property taxes on
the Project;
(8) The issuance and sale of the Bonds, the execution end-delivery
Loan performance of
of he all pdenture covenants pd and the agreements of
pt the and Issuer
regqquiredd under tithe in te Indenture laws of the State Loan
Colorado to and things to make the
of the Issueranin Agreement and
dwith d their s terms. are d and nauthori g obligations
zed by
the Act;
(h) There is no litigation pending or, to the best of its
knowledge threatened against the Issuer relating to the Project or o the or p9 questioning the the organization,or powers a orAgauement,thoritythe Note
the Indenture, of the
Issuer; :(i) The execution, delivery of the Bonds, the Trust
Indenture and the Loan Agreement and the performance of the
Issuer's obligations thereunder have been fully authorised
�b✓y/all
requisite action and do not and will not agency no or gove
riolate nment,any, or any
order of any- cnurt or other g Ya
indenture, agreement or other instrument it entp to ot which the
edIssourrbais in
party or bywith,hier it esul or in n any
of, or constitute •(with due
conflict both) a default under any. such
notice or lapse rs of time
indenture,Agreement or other instrument;
(j) tinder the provisions of the Act, mid as provided in the
Indenture, the Bonds are not to het
payable from nor
charged
pon
any funds other than amounts payable by the Borrower haredn u
the Loan Agreement and the Issuer pursuant to the Indenature nd
and
the property pledged by the Borrower under the Mortgage;
orcg
Issuer io Owner of the
s not sut to
Bond gip shall s ever ny haveliability thereon;right pto compel the
eexercise of the taxing power of the Issuer to pay the Series 1984
Bonds or the interest thereon, nor to enforce payment thereof
against any property of the Issuer; the Series 1984 Bondit shall
ll
not constitute a charge, lien or d mbrance,e legal nr al oroegs tabled
upon any property of the Issuer; en
under the Indenture shall recite that the Series 1984 Bonds,
ant ludi 'egt thereon, shall constitute
o p taxing'poor w ive r of a the
to
a charge against the general credit or
Issuer and that the Series 1984 Bonds do not constitute an
indebtednesss
any
constitutional or statutory a limitation; the meaning of
(k) No member of the Board of County Commissioners has having
acted upon this Ordinance in his official capacity (i)
a
direct or indirect e Mortgage or the Ser interest in the es Project,984 Bonds,the tnture,(ii) owns
the
Loan Agreement, partner
any interest in the Project o(iv) will be Borrower,inoled(iii)in supervising
or employee of the Borrower, ( ) '+
the completion i of, on behalf of the Borrower, or (v
will pccivt any rojec ,commission,thebonus or otherLoan remuneration , or
in respect Note, he Series e 1984'Bonds or thetMortgao„e1e; and an Agreement, the
(1) The Issuer, pursuant to the Indenture, hereby preserves
the option to issue, at its discretion, upon request of the
Borrower, and only within the terms set forth therein, such
Additional Bonds as ere necessary to complete the Project,
arovide
funds for the improvements principal balance of the Bonds to
the Project
and to refund
refund then
Outstanding.
Section 5. Nature of Obligation. Under the provisions
of the Act; and as provided in the Indenture, the Series 1984
Bonds shall be special, limited obligations Cfethe Issuer ssuer payable
solely from, and secured by a pledge of, v
from the Loan Agreement or held by the Trustee s in the Fund or
Account appropriated to the payment of the Bonds under the
Indenture, and shall he further secured by ttphe lien of the
Mortgage et upon the payment
uer will not ledge y of'its
property.
Project.
e if sthe Series.1984 Bonds pwith its
property
oerty.ps secure
The Series 1984 Bonds shall never constitute the debt
or indebtedness of the Issuer within the meaning of any provision
or limitation of the State constitution or statutes and shall not
constitute'tor give rise to, a penuniary liability of ow Issus. er
or a charge 'against its general credit or taxing p the Issuer
entering into the Indenture s , excepd t whe with loanrespect to the Project and
will anotpplication
ca obligate itself, except
the appltce Then s the revenues p therefrom and Bond proceeds
therefor. The Issuer will not of
out of its general fund or
said s term i8 defined in p the art Loan tAgreement)ts of the Project (as
Section 6. Bond Ordinance Irrepealable. After the
Series 19B4 Bonds are issued,
all
constitute an irrevocable contract this Bond Ordinance
betwe n the Issuer and tithe
onds and ll be and main
irrepealehle�h ent l Ses the Series ies 1984 8 1984 Bonds, both principal end
interest, shall be fully paid, cancelled and discharged.
Section 7. Ratification. All action heretofore taken by
the Issuer and the otficers thereof not inconeiatent herewith direteissuance and
salep ofd the toward Series 1984 Bonds of the
hherebye ratified,ct and the approved and
confirmed.
Section 8. Repealer. All acts, orders, resolutions,
ordinances, or parts thereof, taken or adopted by the Issuer and
in conflict with this Bond Ordinance are hereby repealed, except
that this repealer shall not be construed so es to revive any
act, order, resolution, ordinance, or part thereof, heretofore
repealed.
Section 9. Severabllity. If any paragra)pph, clause or
provision of e Bond Ordinance
Ojudpment is judiciallyf not s affect,, impaiudged r or
id
or unenforceable, judgment clauses or provisions
invalidate the remaining paragraphs,
hereof.
Section 10. Emergency. It is hereby found, determined
and declared that this Ordinance is necessary to the immediate
preservation of the public health and safety and shall be
effective upon adoption to thus enable the entering into of the
Agreements cited hereby and the transaction contemplated and e opinion oh ofph the ed by Bonds, Prudential-Bache rdinance. In Securities, tInc., Anriters
oderson
Demnnhrvn Pivision, and United Bank of Denver, F.A., in order to
successfully accomplish the transaction herein contemplated, the
Aeements must be entered into on or about July 31, 1984, which
e dat necessitates the passage of this Ordinance as an emergency
ordinance.
Section 11. Effective Date. This Ordinance shall take
effect upon enactment, as provided by Section J-14(6) of the Weld
County home Rule Charter.
The above and foregoing Ordinance No. 1 5 was, on motion
duly made and seconded, adopted by the following 7 vote on the 27th
day of June 1984.
BOARD OF COUNTY COMMISSIONERS
y• WELD COUNTY, COLORADO 111:ATTEST: P Recorder
Weld County rk a andARecorder Norman Car son, basemen
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