HomeMy WebLinkAbout881348.tiff AR2147754
ORDINANCE NO. 152
AN ORDINANCE AUTHORIZING AND APPROVING A HUMAN RESOURCES
BUILDING LEASE PURCHASE AGREEMENT, A MORTGAGE AND INDENTURE
Ln o 0 OF TRUST, A CERTIFICATE PURCHASE AGREEMENT AND OTHER
ti
o DOCUMENTS AND ACTIONS CONCERNING THE ISSUANCE OF CERTIFICATES
-co OF PARTICIPATION IN THE LEASE PURCHASE AGREEMENT IN THE
0 AGGREGATE PRINCIPAL AMOUNT OF $1, 800, 000 .
W BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF
0 3 WELD COUNTY, COLORADO:
o
`n- w Section 1. Recitals .
wA. Weld County, Colorado (the "County") , is
.cra authorized, pursuant to Section 30-11-104 . 1, Colorado
Revised Statutes, to enter into lease purchase
N agreements in order to provide for the financing of a
courthouse, jail or other county buildings used, or to
a be used, for governmental purposes.
m U
z B. The Board of County Commissioners of the County
.-IH (the "Board") has determined, and hereby determines,
i H that (1) the County is in need of a certain human
o z resources building (the "Building" ) , (2) it is necessary
and in the best interests of the County that the
u, w Building be acquired, constructed, and equipped on a
N w certain parcel of land (the "Site") to be acquired by
viz Weld County Finance Corporation, a Colorado nonprofit
ro corporation (the "Lessor" ) , and (3) for purposes of
financing the acquisition and development of the Site
w a and the acquisition, construction and equipping of the
Building to be located thereon (collectively, the
N M "Project" ) , it is in the best interests of the County
0 0 that the County and the Lessor enter into an annually
o renewable Human Resources Building Lease Purchase
Agreement, dated as of July 1, 1988 (the "Lease" ) , in
substantially the form presented to this meeting of the
Board.
C. Certificates of Participation (the
"Certificates") will be issued and sold pursuant to a
Mortgage and Indenture of Trust, dated as of July 1,
1988 (the "Indenture" ) , between the Lessor and The
Colorado National Bank of Denver, as trustee (the
"Trustee" ) , and a Certificate Purchase Agreement, dated
July 11, 1988 (the "Certificate Purchase Agreement" ) ,
among the County, the Lessor and Boettcher & Company,
Inc. , in substantially the forms presented to this
meeting of the Board.
8813443
D. The Board is desirous of authorizing, approving
and directing the execution of the agreements and
instruments described above and the transactions
evidenced thereby.
Section 2 . Ratification. All action heretofore taken
(not inconsistent with the provisions of this Ordinance) by
the Board or the officers of the Board or the County,
directed toward the acquisition, construction and equipping
o of the Building, the acquisition of the Site by the Lessor
tr)o o and the leasing of the Project by the County from the Lessor,
are hereby ratified, approved and confirmed.
NO
Section 3 . Findings and Determinations . The Board
a hereby finds and determines, pursuant to the Constitution and
o laws of the State of Colorado and the Home Rule Charter of
• the County (the "Charter" ) , that (a) (i) acquiring,
c w constructing and equipping the Project, and (ii) leasing the
• Project from the Lessor under the terms and provisions set
O forth in the Lease, are necessary, convenient and in
w furtherance of the governmental purposes of the County and
v x are in the best interests of the County; and (b) this is an
emergency Ordinance which shall be effective immediately upon
its passage and adoption, as provided in Section 3-14 of the
~ w Charter. Public notice of this Ordinance shall be given
c a forthwith. If this Ordinance were not immediately effective,
co the present volatility of the financial markets might
N z adversely affect this financing and the County might not have
Fmoney available to complete the Project, which is necessary
o for governmental purposes .
o Section 4 . Approval of Lease and Indenture. The Lease,
in substantially the form and with substantially the content
presented to this meeting of the Board, is in all respects
ultZ z approved, authorized and confirmed, and the Chairman of the
N Board is authorized and directed to execute and deliver the
• Lease for and on behalf of the County, and the County Clerk
viz
is authorized and directed to seal the Lease and attest
thereto, the Lease to be in substantially the form and have
v substantially the content as presented to this meeting of the
o N CO
Board. The Boardhereby approves the execution and delivery
ri o by the Lessor and the Trustee of the Indenture, in
w is, substantially the form and with substantially the content as
presented to this meeting of the Board. The Board hereby
acknowledges and consents to the assignment by the Lessor to
the Trustee, pursuant to the Indenture, of all right, title
and interest of the Lessor in, to and under the Lease (with
certain exceptions as provided in the Lease and the
Indenture) , and the delegation by the Lessor to the Trustee,
pursuant to the Indenture, of the duties of the Lessor under
the Lease.
-2-
Section 5 . Authorization of Issuance and Sale of
Certificates . The Board hereby authorizes the issuance of
the Certificates pursuant to the Indenture. The Board hereby
acknowledges and approves the form, terms and provisions of
the Certificates contained in the Indenture, in substantially
the form presented to this meeting of the Board. The Board
hereby authorizes, approves and directs the sale of the
0 o Certificates to Boettcher & Company, Inc. under the terms and
conditions of, and for the price set forth in, the
M o Certificate Purchase Agreement . The Certificate Purchase
Agreement, in substantially the form and with substantially
a the content presented to this meeting of the Board, is in all
o w respects approved, authorized and confirmed, and the Chairman
o of the Board is authorized and directed to execute and
o z deliver the Certificate Purchase Agreement for and on behalf
"'2 of the County.
wSection 6 . Lease of Proiect. The Board hereby approves
vi the leasing of the Project by the County from the Lessor for
the Base Rentals (as defined in the Lease) and Additional
cv Rentals (as defined in the Lease) contemplated by and under
the terms and conditions of the Lease.
03 I-1
CO () Section 7 . Sale of Site. The Board hereby authorizes
rvvz and approves the sale of the Site to the Lessor for an amount
H sufficient to reimburse the County for the cost of acquiring
N H and improving the Site. The Chairman of the Board and the
a other appropriate officers of the County are hereby
authorized and directed to execute and deliver to the Lessor
w a general warranty deed and such other instruments of
`- w conveyance as may be necessary and appropriate to effect a
viz conveyance of the Site by the County to the Lessor in the
N 4 manner contemplated by the Indenture.
u a Section 8 . Other Instruments . The Chairman of the
a Board and other officials of the Board or the County are
N f hereby authorized to execute and deliver for and on behalf of
00 the County any and all additional certificates, documents and
No
, , other papers and to perform all other acts that they may deem
m w necessary or appropriate in order to implement and carry out
the transactions and other matters authorized and
contemplated by this Ordinance. The appropriate officers of
the Board or the County are authorized to execute on behalf
of the County agreements concerning the deposit and
investment of funds in connection with the transactions
contemplated by this Ordinance.
Section 9 . Disclaimer . NO PROVISION OF THIS ORDINANCE,
THE LEASE, THE INDENTURE, THE CERTIFICATES OR THE CERTIFICATE
PURCHASE AGREEMENT SHALL BE CONSTRUED AS CREATING OR
-3-
CONSTITUTING A GENERAL OBLIGATION OR OTHER INDEBTEDNESS OF
THE COUNTY NOR A MANDATORY PAYMENT OBLIGATION OF THE COUNTY
IN ANY FISCAL YEAR BEYOND THE CURRENT FISCAL YEAR. THE
COUNTY SHALL HAVE NO OBLIGATION TO MAKE ANY PAYMENT WITH
RESPECT TO THE CERTIFICATES EXCEPT IN CONNECTION WITH THE
o 0 PAYMENT OF THE BASE RENTALS AND CERTAIN OTHER PAYMENTS UNDER
THE LEASE DURING THE LEASE TERM FOR WHICH THEY WERE
v O APPROPRIATED, WHICH PAYMENTS MAY BE TERMINATED BY THE COUNTY
IN ACCORDANCE WITH THE PROVISIONS OF THE LEASE.
n
w Section 10 . Base Rentals determined to be Reasonable.
0 3 The Board hereby determines and declares that the Base
w Rentals represent the fair value of the use of the Project;
• and that the Purchase Option Price (as defined in the Lease)
o represents the fair purchase price of the Project . The Board
• hereby determines and declares that the Base Rentals do not
x exceed a reasonable amount so as to place the County under an
economic or practical compulsion to renew the Lease or to
N exercise its option to purchase the Project pursuant to the
• Lease. In making such determinations, the Board has given
• consideration to the price at which the County initially
co u acquired the Site, the Cost of Construction (as defined in
the Lease)
,) , the uses and purposes for which the Project will
• { be employed by the County, the benefit to the citizens and
• F inhabitants of the County by reason of the acquisition,
a construction and equipping of the Project and the use and
• occupancy of the Project pursuant to the terms and provisions
in
41 Ng of the Lease, the option of the County to purchase the
Project, and the expected eventual vesting of title to the
.r z Project in the County. The Board hereby determines and
ry , declares that the acquisition, construction and equipping of
the Project and the leasing of the Project pursuant to the
v x Lease will result in facilities of comparable quality and
a meeting the same requirements and standards as would be
cu necessary if the acquisition, construction and equipping of
0 0 the Project were performed by the County other than pursuant
CN COr-I to the Lease. The Board hereby determines and declares that
w the period during which the County has an option to purchase
the Project (i .e. , the maximum term of the Lease, including
all Renewal Terms) does not exceed the useful life of the
Project.
Section 11 . Separability Provision. If any section,
paragraph, clause or provision of this Ordinance (other than
provisions as to the payment of the Base Rentals and
Additional Rentals by the County during the Lease Term and
provisions for the conveyance of the Project to the County
under the conditions provided in the Lease) shall for any
reason be held to be invalid or unenforceable, the invalidity
or unenforceability of such section, paragraph, clause or
provision shall not affect any of the remaining provisions of
this Ordinance.
-4-
Section 12 . Repealer . All bylaws, orders and
resolutions, or parts thereof, inconsistent with this
Ordinance or with any of the documents hereby approved, are
hereby repealed only to the extent of such inconsistency.
No o This repealer shall not be construed as reviving any bylaw,
o order or resolution, or part thereof .
i o
Section 13 . Ordinance Not to be Repealed. Subsequent
A to the adoption of this Ordinance, this Ordinance shall not
o w be modified, amended or repealed so long as any Certificates
0 3 are outstanding and unpaid.
ox
`i>Q Section 14 . Effective Date. This Ordinance shall be in
o full force and effect upon the date of its passage and
u adoption.
w
via
o Section 15 . Declaration of Emergency. The Board,
Npursuant to Section 3-14 ( 6) of the Charter, does hereby
x declare, for the reasons given in the body of this Ordinance,
w this to be an emergency ordinance under said Section of the
CO U Charter .
NI Z
r-IH PASSED, ADOPTED AND APPROVED this July 11, 1988 .
� w
I--• E
0 a WELD COUNTY, COLORADO
w
v
in w
r- 44 By
N
vi z Gene Brantner, Chairman,
,., r4 Board of C unty Commissioners
0
WUwg
By
N r n y Commissioner
00
N CO
CA
[. By e M/L c
C. W. Kirby, ,commissioner
•
By
Ja que ' ne J h son,
issi ner
,17,1 ii„coorte
I 4.::N'.. I--
By
" �jrF ' Frank Yamaguchi , Commissioner
[ISE t1] \' l�
O r�r** /.1 Read and approved: July 11 , 1988
ATTEST/:Ni
Published: July 20, 1988 , in the
� Platteville Herald
"{ V ntr'k T��{gti �XF Effective: July 11 , 1988
Cou ty)lerk
-5-
STATE OF COLORADO ]
] ss . CERTIFIED COPY
COUNTY OF WELD ] OF ORDINANCE
I, Mary Ann Feuerstein, County Clerk of Weld County,
Colorado (the "County") , do hereby certify that the pages
attached hereto constitute a true, correct and complete copy
of the Ordinance contained therein and of that portion of the
Record of Proceedings of the Board of County Commissioners
(the "Board" ) relating to the authorization of the Human
Resources Building Lease Purchase Agreement, dated as of
July 1, 1988, between the County and Weld County Finance
Corporation (the "Lessor" ) , the Mortgage and Indenture of
Trust dated as of July 1, 1988, between the Lessor and The
Colorado National Bank of Denver, as trustee, and other
documents and instruments related thereto; which Ordinance
was adopted and which proceedings occurred at a regular
public meeting of the Board at 915 10th Street, in Greeley,
Colorado, on July 11, 1988, as recorded in the regular
official records of proceedings of the County kept in my
office; that said proceedings were duly had and taken; that
said meeting was duly held and the persons therein named were
present and voted at said meeting, all as therein shown; and
that the Ordinance adopted at said meeting has not been
rescinded or repealed as of the date hereof .
WITNESS my hand and the seal of the County, as of the
14th day of July 1988 .
[SEAL] WELD COUNTY, COLORADO
BY Actitkr l/,,tvl �[�� �� L(UILt r
nty/Clerk
ORDINANCE
OF
THE BOARD OF COUNTY COMMISSIONERS
OF
WELD COUNTY, COLORADO
July 11, 1988
STATE OF COLORADO ]
] ss .
COUNTY OF WELD ]
A regular public meeting of the Board of County
Commissioners (the "Board" ) of Weld County, Colorado (the
"County" ) , was held at 915 10th Street, in Greeley, Colorado,
within the County, being the regular meeting place of the
Board, on Monday, July 11, 1988, at 9 : 00 a.m.
Upon roll call, the following were found to be present,
constituting a quorum:
Chairman: Gene R. Brantner
Commissioners : C.W. Kirby, Jacqueline Johnson, Gordon E.
Lacy and Frank Yamaguchi
Absent :
Also present were: Don Warden, Director of Finance and
Administration
Thomas 0. David, County Attorney
After the Chairman called the meeting to order, the
following proceedings, among others, were had and taken:
Don Warden introduced the following
Ordinance, whereupon the Ordinance was read by title, copies
of the text thereof having been previously made available to
members of the Board and the public:
ORDINANCE NO. 152 rized .J directed to seal the Lease) represents the fair pue-
Lease and attest thereto, the chase price of the Project. The
AN ORDINANCE AUTHORIZING Lease to be in substantially the Board hereby determines and
AND APPROVING A HUMAN form and have substantially the declares that the Base Rentals de
RESOURCES BUILDING LEASE content as presented to this not exceed a reasonable amewN
PURCHASE AGREEMENT, A meeting of the Boartl. The Bo of so as to place iM County ui '
MORTGAGE AND INDENTURE OF hereby approves the execution an economic of practical CORD
TRUST, A CERTIFICATE FUR- and delivery by the Lessor and lion to renew the Lease or to ey
CHASE AGREEMENT AND the Trustee of the Indenture, in erase Its option to purchase-Ws
OTHER DOCUMENTS AND AC- substantially the form and with Project pursuant to the Lease. In
qq /� substantially the content as pre- making such determinations, the
.1� daL,tl (7f Publication SUANCE ECOFCERNI CONCERNING
TES OF vented to this meeting of the Board has given consideration to
PARTICIPATION IN THE LEASE Board. The Board hereby ac- the price at which the County 'M-
ON AGREEMENT IN THE knowledpea and consents to the tially acquired the Site, the Cost
AGGREGATE PRINCIPAL assignment by the Lessor to the of Construction(as defined In the
AMOUNT OF 31,800,000. Trustee pursuant to the Inden- Lease), the uses and purposes
BE IT ORDAINED BY THE ture, of all right, title and interest for which the Project will be em-
BOARD OF COUNTY COMMIS- of the Lessor in,to end under the ployed by the County, the benefit
STATE OF < OLORADOI SIONERS OF WELD COUNTY, Lease (With certain exceptions as to the citizens and Inhabitants of
COLORADO:COUNTY,In the Lease and the In-the County by reason of the tic-
County e-
Countc of Weld) Section 1 Recitals denture), and the delegation by 9 . equipping, the stroject n and
A. Weld the t osorth to theent re,Trustee, pur- d c the Project and the
A. Winkler Ri_esel "County") County, Colorado (the avant to the Indenture, of the du- use and occupancy of the Project
I - c to Section Is au pursuant ties of the Lessor under the pursuant to the terms and provi-
11-104.1, Col intoo
Lease. aeons of Lease, the option of
Revised Statutes, to enter into Section 5. Authorization of Is- the County to purchase the Pro-
yid Puente nl Welt( bet nu deli sworn wit ilia( lease purchase agreements in aua^ce end Sale of Certificates. act, and he order to provide for the financin 1 expected evert in
an publisher rat- Platteville Her-al g The Board hereby authorizes the vesting of title to the Project in of a courthouse, jail or other issuance of the Certificates pur- the County. The Board hereby
county buildings used or to be auant to the Indenture. The Board determines and declares that the
thatthat l hr same is a wee nit nrtcspa(x•r of general 9
I circulation w'as pnnlyd and published in Lhe used, for governmental purposes. hereby acknowledges and ap- acquisition, construction and
p B. The Board of County Corn- proves the form, terms and provi- equipping of the Project and the
town of . - mBap""ers of the County (the sions of the Certificates con- leasing of the Project pursuant to
Plat 1 PVi 1 S. "Board") has determined, and rained in the Indenture, in sub- the Lease will result in facilities
hereby determines, that (I) the ally the form presented to of comparable quality and meet-
In Bald Count t and SLI !' mai the a UI:solve:' County is in need of a certain this this meeting of the Board. The ing
the same requirement*be necessary
any
L'St•ment.Ol which Iht'annr♦rd Isa;rtre Cop)' has human resources building (the Board hereby authorizes, ap- standards as would be necessary
been published in said urckh newspaper lot "Building"), (2) it is necessary proves and directs the sale of the If the acquisition, construction
and In the,best interests of the Certificates to Boettcher 8 Corn- and equipping of the Project were
County that the Building be ac- pany, Inc. under the terms and Performed by the County other
One conseCUt:ve quired, constructed, and conditions of, and for the price than pursuant to the Lease. The
weeks: that the notice was published in the equipped on a certain parcel of set forth in, the Certificate Pur- Board hereby determines and
regular and entire issue of ever)" number o: said land (the "Site") to be acquired by chase Agreement. The Certificate declares that the period during
Weld County Finance Corpora- Purchase Agreement, in substan- which the County has an option
news r during the period and time of publ lra" tion, a Colorado nonprofit corpo-p tially the form and t e sued to to u e Project (Le., the
lion of said notice and in the newspaper proper ration (the "Lessor"), and (3) for tially the content presented to maximum term of the Lease, in-
s of financin the ac ui- this meeting of the Board, is in all eluding all Renewal Terms) does
and not in a supplement thereof: that the first p p g q
salon and development of the respects approved, authorized not exceed the useful life of the
publication of said notice was contained in the Site and the acquisition,Slfion, con-issue of said newspaper bearing the date. the qof the Board, authorizedd the izedir PrSecti.
Building ontl a located he ton di B turd at and Section ny.section,
pa graph
!1 Bullecti to be"Project"),c thereon itin directed to execute and deliver clauseSign. If any section, paragraph,
20 date of Jul A.D . 1983 (collectively, the it is in the Corti li care Purchase or provision of this Ordi-
Ythe best interests of the County Agreement for and on behalf of nonce (other than provisions as
that the County and the Lessor the County. to the payment of the Base
and the last publication lhereol, in the issue of enter into an annually renewable S.ction 6 lease or Pr oie ct Rentals and Additional Rentals by
said newspaper. bearing date. the 20 dear of Human Resources Building Lease The Board hereby approves the the County during the
Purchase Agreement, dated as of leasing of the Project by the Term and provisions for the con-
July O opp�� 1, 1988 (the "Lease"), ed County from the Lessor for the veyance of the Project to the
July 1 U{AhaI the said substantially the form presented Base Rentals (as defined in the County under the conditions pro-
to this meeting of the Board. Lease) and Additional Rentals aided in the Lease) shall for any
C. Certificates of Participation (as defined in the Lease) reason be held to be invalid or
Plattevil 1 P HPYa1 d (the "Certificates") will be issued
contemplated by and under the unenforceable, the Invalidity or
has been pubOsneu ronlausi,. and uninter- and Iola pursuant to a Mortga ge
ln terms and conditions of the paragraph,
rceebil la of such section,
and Indenture of Trust, dated as Lease. paragraph, clause or provision
ruptrdlc during the period OI at bast tiff. taro of July 1, 1988 (the "Indenture"), Srdti hn 7. Sale of Site The shall provisions
not affect of this of the rani. Ter
consecutive weeks nc.r, prior to the first issue between the Lessor and The Col-
thereof containing said notice or acv'ertisemcnt oredo National Bank of Denver, Board hereby authorizes and tap-he ing 'etionio1P Ordinance.
as trustee (the "Trustee'), and a proves the sale of the Site to the Sergio° 17 Repealer All by-
above referred to: and that said newspaper was Lessor for County sufficient c to laws, orders and resolutions,with
gat catJ 1 , 1988em reimburse the County for the cost Parts thereof, inconsistent or
at the time of each of the publications of said dated July it, 1988 (the of acquiring and improving the this Ordinance or with any of the
notice duly qualified for that purpose within the "Certificate Purchase Agree-
mcan:ng of an act entiticd. "An Act Concerning ment"), among the County, the site.the Chairman appr rio the Board documents reby repealed herdbo approved, are
Lessor and Boettcher 8 Corn- and other appropriate officers hereby only to the hex-
is
Legal Notices, Ad'cr.isemrnts and Publications pany, Inc., in substantially the of the County are hereby autho- tent of such inconsistency. This
and the Fees of Printers and Publishers thcreo .
forma presented to this meeting of rized and directed to execute and repealer shall not be construed
and to Repeal al! Acts and Parts of Arts In Con- the Board.
deliver to the Leaser a general reviving any bylaw, order or
D. The Board is desirous of warranty deed and such other in-
Section resolution, or part thereof.
flirt with Ihe Provisions or this Act" approved authorizing, approving ebumenb of conveyance as maySector^ 13. Ordinance Not to
April 7. 1921. and all anu•ndrnrnts 'ri'ol. and theut she be necessary and appropriate be Renealed Subsequent to the
ing execution of the Y Pp priite to
rd: effect a conveyance of the Site by adoption of this Ordinance, this
parnrularil' -s amender: by do t9 a� agreements and instruments de-
-ncc t 13. scribed above and the transac-
.N,J 0. the County to the Lessor in the Ordinance shall not be modified,
3, d a{La1• a (pons evidenced thereby. manner contemplated by the In- amended or repealed so long as
denture. any Certificates are outstanding
-+I, c-rtion 2 Ratification,All Sc-
,Ion heretofore taken (not incon- a Chairmanctinn 8 Other Instruments.,and and unpaid.
aisles, with the provisions of this
The of the Board Section 14.shall
be ivi Date This
- l'ubl,sher Ordinance) by the Board or the other y are officials of the Board or the Ordinance shall in full force
'C% �- 9'� officers of the Board or the County are hereby authorized to and effect upon the date of its
county, directed toward the ac-
quisition, execute and deliver for and on passage end adoption.
Subscribed and iq ern lu Oalofe me this_ behalf of the County any and all Section 15 Declaration 0 o construction and equip- t
' ping of the Building, the acquisi- additional certificates, documents Fmerctiocv The Board, pursuant
(/ tion of the Site by the Lessor and and other papers and to perform to Section 3-14(6) of the Charter,
r��� (((JJJ 4 O 111,Ftl - the leasing of the Project by the all other sae that they may deem does hereby declare, for the yea-
day cal �}LAJ�{ County from the Lessor, are necessary or appropriate in order sons given in the body of this Or-
dayto implement and carry out the dinence, this to be en emer enc
I hereby ratified, approved and transactions and other matters g y
confirmed. ordinance under raid Section of
S rti"n 3 Findinos end Deter- authorized and contemplated by the Charter.
.4a—
/Jr,W _ Dona lions The Boeur hereby this Ordinance. The appropriate PASSED, ADOPTED AND AP-
officers finds antl tleperminea, sera her to officers of the Board or the PROVED this July 11, 1988.
\uluf I I'ul p County are authorized to execute
7 the Constitution antl laws of the on behalf of the County agree- WELD COUNTY, COLORADO
State of Colorado and the Home menta concerning the deposit and
Rule Charter of the County (the investment of funds in connection By/s/Gene Brenner, Chairman
• • FORpT,�,L/aU�PTON PRESS- . . "Charter"), that (a)(i) acquiring, with the"transactions contem- OARD OF COUNTY COMMIS-
• 4roYN1Yer#Ve. constructing end equipping the plated by this Ordinance. SIONERS
''rr..'',^, Project, and (ii) leasing the Pro- Section 9. Disclaimer NO
"ups,OO80621 ject from the Lessor under the PROVISION OF THIS ORDI- By/sl Gordon E. Lacy,Commier
_ - ' terms end provisions set forth in NANCE, THE LEASE, THE IN- Bonet
the Lease, are necessary, conve- By!s/C.W. Kirby, Commissioner
V and in furtherance of the DENTURE, THE CERTIFICATES By Is/Jacqueline Johnson, Com-
nientgovernmentel purposes of the OR THE CERTIFICATE LPUR-
BE missioner
/- / / County and are In the bean Inter- CHASE AGREEMENT SHALL BE By/W Frank Yamaguchi,
/� sate of the County;and(b)this is CONSTRUED AS CREATING OR Commissioner
M.' Cgnuni!lsiou a pirt•s W 0 an emergency Ordinance which OBLIGACONSTITION A GENERAL (SEAL)
Shall be effective immediately OBLIGATION OR OTHER IN-
DEBTEDNESS OF THE COUNTY ATTEST:
upon Its passage end adoption, NOR A MANDATORY PAYMENT Is/ Mary Ann FeuanMln
as provided in Section 3-14 of the OBLIGATION OF THE COUNTY IN COUNTY CLERK
Charter. Public notice of this ANY FISCAL YEAR BEYOND THE
Ordinance shall be given forth- CURRENT FISCAL YEAR. THE Reed and • roved: July11,
with. If this Ordinance were not COUNTY SHALL HAVE NO OBLI- pp
immediately effective, the present 1898.
H TO MAKE ANY PAYMENTtity of the financial y markets WITH RESPECT TO THE CER-
might adversely affect this TIFICATES EXCEPT IN Published in the Platteville Her-
financing and the County might CONNECTION WITH THE aid, July 20, 1988.
not have money available to PAYMENT' OF THE BASE
complete the Project, which is RENTALS AND CERTAIN OTHER
necessary for governmental pur- _ PAYMENTS UNDER THE LEASE
poses. DURING THE LEASE TERM FOR
Section 4. Approval of Lease WHICH • THEY WERE
• J Indenture The Lease, in APPROPRIATED, WHICH PAY-
..aantiaily the form and with MENTS MAY BE TERMINATED BY
.+stantially the content pre- THE
COUNTY
PROVISIONS of THE ACCORDANCE
ented to this meeting of the WITH THE
oard, is in all respects ap- Sertinn 10. Rase Rentals de-
,roved, authorized and con- )ermined to be Reasonable, The -
firmed, and the Chairman of the Board hereby determines and de-
'Board is authorized and directed dares that.she Base Rentals rep-
to execute and deliver the Lease resent the fklr value of the use of
for and on behalf of the County, the Project; and that the Purchase
•rid the County Clerk is autho- Option Price (as defined in the
TRANSAMERICA TITLE INSURANCE COMPANY
Weld County July 8, 1988
915 10th St .
Greeley, CO 80631
Attn: Don Warden-Finance Director
We are pleased to have the opportunity to be of service .
Enclosed is Commitment No . 8026994
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
TRANSAMERICA TITLE INSURANCE COMPANY
AMOUNT PREMIUM
Weld County Attorney ' s Office OWNER $ 1 , 800 ,000 . 00 $ 1 , 657 . 75
915 10th st . MORTGAGE $ 1 , 800 ,000 . 00 $ 60 . 00
Greeley, CO 80631 MORTGAGE $ $
Attn: Bruce Barker ADDITIONAL CHARGES $
COST OF TAX CERTIFICATE $
SURVEY COSTS $
Your Reference :
Commitment No . 8026994 CC ' s To: Weld County/Don Warden
Colorado Nat ' l Bank of
Denver/Charles Smedley
kmt/
COMMITMENT TO INSURE
Transamerica Title Insurance Company, a California corporation, herein called the Company, for a valuable
consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule
A, in favor of the proposed insured named in Schedule A, as owner or mortgagee of the estate or interest
covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges
therefor; all subject to the provisions of Schedules A and B and to the conditions and stipulations attached.
Customer Contact: Margaret/tlf By Margaret Stephenson
Phone : 352-2283/572-1488 Authorized Signature
The effective date of this commitment is June 27 , 1988 at 7 : 00 A. M.
At which time fee title was vested in:
WELD COUNTY, COLORADO, a Body Corporate and Politic of the State of
Colorado
SCHEDULE A
1 . Policies to be issued:
(A) Owner ' s :
WELD COUNTY FINANCE CORPORATION, a Colorado Non-Profit
Corporation
(B) Mortgagee ' s :
COLORADO NATIONAL BANK OF DENVER
PAGE 2 8026994
SCHEDULE A - Continued
2 . Covering the Land in the State of Colorado, County of Weld.
Described as :
That portion of the Northwest One Quarter of Section 31 , Township
6 North, Range 65 West, of the 6th Principal Meridian, more
particularly described as follows :
BEGINNING at the North Quarter Corner of said Section 31 , and
considering the North line of said Northwest Quarter to bear North
89' 34 ' 39" West, with all bearings contained herein relative thereto;
thence North 89' 34 ' 39" West, a distance of 2256 . 29 feet;
thence South 00' 54 ' 31 " East, 655 . 61 feet;
thence South 89 ' 35 ' 52 " East, 2244 . 79 feet;
thence North 00 ' 05 ' 47 " East, 654 . 65 feet, more or less to the POINT
OF BEGINNING.
EXCEPTING THEREFROM any portion thereof which may lie South of
the South line of the North 44 . 32 acres of the NW1/4 of said
Section 31 .
PAGE 3 8026994
SCHEDULE A - Continued
REQUIREMENTS
3 . The following are the requirements to be complied with prior to
the issuance of said policy or policies . Any other instrument
recorded subsequent to the date hereof may appear as an exception
under Schedule B of the policy to be issued. Unless otherwise
noted, all documents must be recorded in the office of clerk and
recorder of the county in which said property is located.
A. Certified copy of Certificate of Incorporation of WELD COUNTY
FINANCE CORPORATION, A Non-Profit Corporation, issued by the
Secretary of State , State of Colorado .
B . Duly certified copy of Resolution of the Board of County
Commissioners of the County of Weld, a body politic and corporate ,
authorizing the Sale of subject property.
C. Certified copy of Resolution of the governing board of the WELD COUNTY FINANCF
CORPORATION, a Colorado Non-Profit corporation, authorizing the acquisition of
the subject property and the borrowing of money and the execution of necessary
documents and reciting that the board has been duly authorized in the premises.
Said Resolution must be properly certified by an Officer of the corporation
with Corporate Seal affixed. Said Resolution must be submitted to and approved
by Transamerica Title Insurance Company, but need not be recorded.
D. Deed from WELD COUNTY, COLORADO, a Body Corporate
and Politic of the State of Colorado
to WELD COUNTY FINANCE CORPORATION, a Colorado
Non-Profit Corporation
E . Deed of Trust, executed by the President, Vice President or other
head officer
from WELD COUNTY FINANCE CORPORATION, a Colorado
Non-Profit Corporation
to the public Trustee of the County of Weld
for the use of COLORADO NATIONAL BANK OF DENVER
to secure $1 , 800 , 000 . 00
NOTE : Corporate Seal or facsimile must be affixed.
PAGE 4 8026994
SCHEDULE B
THE POLICY OR POLICIES TO BE ISSUED HEREUNDER WILL NOT INSURE AGAINST:
1 . Rights or claims of parties in possession not shown by the public
records .
2 . Easements , or claims of easements , not shown by the public records .
3 . Discrepancies, conflicts in boundary lines , shortage in area ,
encroachments, and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the
public records .
4 . Any lien, or right to a lien, for services, labor or material
heretofore or hereafter furnished, imposed by law and not shown
by the public records .
5 . Taxes due and payable and any tax, special assessments , charge
or lien imposed for water or sewer service , or for any other
special taxing district.
6 . Rights of way for county roads 30 feet wide on each side of section
and township lines, as established by order of the Board of County
Commissioners for Weld County, recorded October 14 , 1889 in Book
86 at Page 273 .
7 . Reservation of right of proprietor of any penetrating vein or lode
to extract his ore, in U. S . Patent recorded May 25 , 1892 in Book
51 at Page 171 .
8 . Right of way for Butler-Howard Ditches and Drainage System in
Section 31 as disclosed by Map and Statement filed May 5 , 1898
as Filing No. 67246 , and by Agreement recorded May 7 , 1898 in Book
157 at Page 311 .
9 . Carpenter Seepage Ditch, and any and all rights of way therefore,
as evidenced by Map and Statement filed September 17 , 1901 as
Filing No. 80213 .
PAGE 5 8026994
10 . Easement and right of way for electric transmission, distribution
and service lines , as granted to Home Light and Power Company by
Daisy Adams and Lee Adams , in the instrument recorded October 19 ,
1959 in Book 1542 at Page 561 , affecting the following described
property:
The NE1/4 NW1/4 of Section 31 , Township 6 North, Range 65 West
of the Sixth Principal Meridian, the approximate center line of
which right of way is more particularly described as follows :
Beginning at a point thirty ( 30) feet and one ( 1 ) foot West of
the Northeast corner of said Northeast quarter of the Northwest
quarter (NE1/4 , NW1/4 ) ; thence in a Southerly direction, one ( 1 )
foot West of and parallel to the East boundary of said Northeast
quarter of the Northwest quarter (NE1/4 , NW1/4) a distance of fifty
(50) feet.
11 . Oil and gas lease between Monfort Feed Lots , a Division of Monfort
of Colorado, Inc . , a Delaware Corporation and The Colton Company
dated April 18, 1979 , recorded June 1 , 1979 in Book 870 as
Reception No. 1792317 , and any interests therein or rights
thereunder .
NOTE : Extension of the above lease as claimed by Affidavit of
Production, pursuant to CRS 38-42-106 , by H & C Colton
Company, recorded November 3 , 1986 in Book 1134 as Reception
No. 2075692 , and by Sunshine Valley Petroleum Corporation,
recorded January 20, 1987 in Book 1143 as Reception No .
2085386 and January 27 , 1987 in Book 1144 as Reception No .
2086072 .
12 . All oil and gas deposits lying thereunder as reserved by Monfort
of Colorado, Inc . , a Delaware Corporation in the Deeds to Weld
County, Colorado, a Body Corporate and Politic of the State of
Colorado, recorded July 10 , 1987 in Book 1163 and re-recorded
August 17, 1987 in Book 1167 as Reception No. 2110746 , and recorded
July 10 , 1987 in Book 1163 as Reception No. 2106698 and re-recorded
August 17 , 1987 in Book 1167 as Reception No. 2110748 .
NOTE : The following notices pursuant to CRS 9-1 . 5-103 con-
cerning underground facilities have been filed with
the Clerk and Recorder. These statements are general
and do not necessarily give notice of underground
facilities within the subject property.
(a) Mountain Bell Telephone Company, recorded
October 1 , 1981 in Book 949 as Reception No . 1870705 .
(b) Colorado Interstate Gas Company, recorded
August 31 , 1984 in Book 1041 as Reception No . 1979784 .
(c ) Associated Natural Gas , Inc . , recorded March 3 ,
1988 in Book 1187 as Reception No . 2132709 .
(d) Western Slope Gas Company, recorded March 9 , 1983
in Book 990 as Reception No . 1919757 .
PAGE 6 8026994
Transamerica Title Insurance Company
Ar oahos- Douglas Counties Jefferson County
200O wets l.nl•lon eouu•erd lintelon 1575 Carr Street Leu.00t
130])19e-aodo
1303(231 2500
• •
Dense Adams Count's* Lorimer County
w INC Lrenc•Street Denver 151 West Mountain Avenue Bon Canoe
(30]1291•!00
(303)•93.5444
• •
Boulder County Pueblo County
922 M
1317 Spruce Street Itculder ore,Man Street Puebla
M3)4434160 1303)543.0.51
• e
El Paso County bull-Jackson Counties
Dena Soon,Web*?Sete*, Colorado sdranit 501 Lincoln Street Steamboat Springs
1303)0.34-3731 (303)915-1911
Weld County
1113 IDIn Avenue Greeley
;303)352.2263
rr
Transamerica
Title insurance Services
CONDITIONS AND STIPULATIONS
Please read carefully
This is a Commitment to issue one or more policies of title insurance in our Standard Form when the
requirements set forth in the Commitment have been satisfied. The policy is available and should be
examined before this Commitment is used if there is any question about coverage.
2. Only the policies shown are committed to. If there are any changes in the transaction, order an
amendment from us.
3. The date on this Commitment is important. Nothing after that date has been considered by us.
4. This Commitment is good for 6 months only. Extensions should be ordered from us if they are
needed.
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
TRANSAMERICA TITLE INSURANCE COMPANY
AMOUNT PREMIUM
Weld County Attorney' s Office OWNER $ 1 , 800 , 000 . 00 $ 1 , 657 . 75
915 10th st . MORTGAGE $ 1 , 800, 000 . 00 $ 60 . 00
Greeley, CO 80631 MORTGAGE $ $
Attn: Bruce Barker ADDITIONAL CHARGES $
COST OF TAX CERTIFICATE $
SURVEY COSTS $
Your Reference :
Commitment No. 8026994 CC ' s To: Weld County/Don Warden
Colorado Nat ' l Bank of
Denver/Charles Smedley
kmt/
COMMITMENT TO INSURE
Transamerica Title Insurance Company, a California corporation, herein called the Company, for a valuable
consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule
A, in favor of the proposed insured named in Schedule A, as owner or mortgagee of the estate or interest
covered hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges
therefor; all subject to the provisions of Schedules A and B and to the conditions and stipulations attached.
Customer Contact: Margaret/tlf By Margaret Stephenson
Phone : 352-2283/572-1488 Authorized Signature
The effective date of this commitment is June 27 , 1988 at 7 : 00 A. M.
At which time fee title was vested in:
WELD COUNTY, COLORADO, a Body Corporate and Politic of the State of
Colorado
SCHEDULE A
1 . Policies to be issued:
(A) Owner ' s :
WELD COUNTY FINANCE CORPORATION, a Colorado Non-Profit
Corporation
(8) Mortgagee ' s :
COLORADO NATIONAL BANK OF DENVER
PAGE 2 8026994
SCHEDULE A - Continued
2 . Covering the Land in the State of Colorado, County of Weld.
Described as :
That portion of the Northwest One Quarter of Section 31 , Township
6 North, Range 65 West, of the 6th Principal Meridian, more
particularly described as follows :
BEGINNING at the North Quarter Corner of said Section 31 , and
considering the North line of said Northwest Quarter to bear North
89' 34 ' 39" West, with all bearings contained herein relative thereto;
thence North 89' 34 ' 39" West, a distance of 2256 . 29 feet;
thence South 00' 54 ' 31 " East, 655 . 61 feet;
thence South 89' 35 ' 52 " East, 2244 . 79 feet;
thence North 00' 05 ' 47" East, 654 . 65 feet, more or less to the POINT
OF BEGINNING.
EXCEPTING THEREFROM any portion thereof which may lie South of
the South line of the North 44 . 32 acres of the NW1/4 of said
Section 31 .
PAGE 3 8026994
SCHEDULE A - Continued
REQUIREMENTS
3 . The following are the requirements to be complied with prior to
the issuance of said policy or policies . Any other instrument
recorded subsequent to the date hereof may appear as an exception
under Schedule B of the policy to be issued. Unless otherwise
noted, all documents must be recorded in the office of clerk and
recorder of the county in which said property is located.
A. Certified copy of Certificate of Incorporation of WELD COUNTY
FINANCE CORPORATION, A Non-Profit Corporation, issued by the
Secretary of State , State of Colorado.
B . Duly certified copy of Resolution of the Board of County
Commissioners of the County of Weld, a body politic and corporate ,
authorizing the Sale of subject property.
C. Certified copy of Resolution of the governing board of the WELD COUNTY FINANCF
CORPORATION, a Colorado Non-Profit coipuration, authorizing the acquisition of
the subject property and the borrowing of money and the execution of necessary
documents and reciting that the board has been duly authorized in the premises.
Said Resolution must be properly certified by an Officer of the coipuration
with Corporate Seal affixed. Said Resolution must be submitted to and approved
by Transamerica Title Insurance Company, but need not be recorded.
D. Deed from WELD COUNTY, COLORADO, a Body Corporate
and Politic of the State of Colorado
to WELD COUNTY FINANCE CORPORATION, a Colorado
Non-Profit Corporation
E . Deed of Trust, executed by the President, Vice President or other
head officer
from WELD COUNTY FINANCE CORPORATION, a Colorado
Non-Profit Corporation
to the public Trustee of the County of Weld
for the use of COLORADO NATIONAL BANK OF DENVER
to secure $1 , 800 ,000 . 00
NOTE : Corporate Seal or facsimile must be affixed.
PAGE 4 8026994
SCHEDULE B
THE POLICY OR POLICIES TO BE ISSUED HEREUNDER WILL NOT INSURE AGAINST:
1 . Rights or claims of parties in possession not shown by the public
records .
2 . Easements , or claims of easements , not shown by the public records .
3 . Discrepancies , conflicts in boundary lines , shortage in area ,
encroachments, and any facts which a correct survey and inspection
of the premises would disclose and which are not shown by the
public records .
4 . Any lien, or right to a lien, for services , labor or material
heretofore or hereafter furnished, imposed by law and not shown
by the public records .
5 . Taxes due and payable and any tax, special assessments , charge
or lien imposed for water or sewer service , or for any other
special taxing district .
6 . Rights of way for county roads 30 feet wide on each side of section
and township lines, as established by order of the Board of County
Commissioners for Weld County, recorded October 14 , 1889 in Book
86 at Page 273 .
7 . Reservation of right of proprietor of any penetrating vein or lode
to extract his ore, in U. S . Patent recorded May 25 , 1892 in Book
51 at Page 171 .
8 . Right of way for Butler-Howard Ditches and Drainage System in
Section 31 as disclosed by Map and Statement filed May 5 , 1898
as Filing No. 67246 , and by Agreement recorded May 7 , 1898 in Book
157 at Page 311 .
9 . Carpenter Seepage Ditch, and any and all rights of way therefore ,
as evidenced by Map and Statement filed September 17 , 1901 as
Filing No . 80213 .
PAGE 5 8026994
10 . Easement and right of way for electric transmission, distribution
and service lines , as granted to Home Light and Power Company by
Daisy Adams and Lee Adams , in the instrument recorded October 19 ,
1959 in Book 1542 at Page 561 , affecting the following described
property:
The NE1/4 NW1/4 of Section 31 , Township 6 North, Range 65 West
of the Sixth Principal Meridian, the approximate center line of
which right of way is more particularly described as follows :
Beginning at a point thirty ( 30 ) feet and one ( 1 ) foot West of
the Northeast corner of said Northeast quarter of the Northwest
quarter (NE1/4 , NW1/4 ) ; thence in a Southerly direction, one ( 1 )
foot West of and parallel to the East boundary of said Northeast
quarter of the Northwest quarter (NE1/4 , NW1/4) a distance of fifty
( 50) feet .
11 . Oil and gas lease between Monfort Feed Lots , a Division of Monfort
of Colorado, Inc . , a Delaware Corporation and The Colton Company
dated April 18, 1979 , recorded June 1 , 1979 in Book 870 as
Reception No. 1792317 , and any interests therein or rights
thereunder .
NOTE : Extension of the above lease as claimed by Affidavit of
Production, pursuant to CRS 38-42-106 , by H & C Colton
Company, recorded November 3 , 1986 in Book 1134 as Reception
No. 2075692 , and by Sunshine Valley Petroleum Corporation,
recorded January 20 , 1987 in Book 1143 as Reception No .
2085386 and January 27 , 1987 in Book 1144 as Reception No .
2086072 .
12 . All oil and gas deposits lying thereunder as reserved by Monfort
of Colorado, Inc . , a Delaware Corporation in the Deeds to Weld
County, Colorado, a Body Corporate and Politic of the State of
Colorado, recorded July 10 , 1987 in Book 1163 and re-recorded
August 17 , 1987 in Book 1167 as Reception No. 2110746 , and recorded
July 10 , 1987 in Book 1163 as Reception No. 2106698 and re-recorded
August 17 , 1987 in Book 1167 as Reception No . 2110748 .
NOTE : The following notices pursuant to CRS 9-1 . 5-103 con-
cerning underground facilities have been filed with
the Clerk and Recorder . These statements are general
and do not necessarily give notice of underground
facilities within the subject property.
(a) Mountain Bell Telephone Company, recorded
October 1 , 1981 in Book 949 as Reception No . 1870705 .
(b) Colorado Interstate Gas Company, recorded
August 31 , 1984 in Book 1041 as Reception No. 1979784 .
(c ) Associated Natural Gas , Inc . , recorded March 3 ,
1988 in Book 1187 as Reception No . 2132709 .
(d) Western Slope Gas Company, recorded March 9 , 1983
in Book 990 as Reception No . 1919757 .
PAGE 6 8026994
Transamerica Title Insurance Company
Douglas Counties Jefferson County
b mos Li n�� Moto^ 1175 Carr Street Lakwce6
7000 Wp L�3 31 7 6ouovar0 L 1303)731 7600
IJOJI 796.000
•
•
Urlmer County
Denver-Adams Countiessat mountain Avenue Fen Conine
t600 Le.rarce Street Denver 1st
493 64.64
(]OJ)79t..100
•
•
Pueblo County
/puce S nt So 677 Wore.main Street Fueao
.317 S(303•sheet 0euber (303)543.0.51
(]O]I W�1t60
•
El Peso Couny Moult-Jackson Counties
507 Lincoln Street Steamboat String*
416 scum wooer Street 50,013,rabrene S9• (3031679-ten
(303)634•3731
Weld County
1113 tOrn A.enw Grlet.V
303)352 2213
Transamerica
Title Insurance Services
CONDITIONS AND STIPULATIONS
Please read carefully
1. This is a Commitment to issue one or more policies of title insurance in lour is available and andard Form when
eldthe
e
requirements set forth in the Commitment have been satisfied. The policy
examined before this Commitment is used if there is any question about coverage.
2. Only the policies shown are committed to. If there are any changes in the transaction, order an
amendment from us.
3. The date on this Commitment is important. Nothing after that date has been considered by us.
4. This Commitment is good for 6 months only. Extensions should be ordered from us if they are
needed.
COPY
F. 8038-G Information Return for Tax-Exempt
OMB No-1545-0720
(December 1986) Governmental Bond Issues bares 12.31.09
Department of the Treasury ►Uncle;Section 149(e)
Internal Rename Service (Use Form 8038-GC if issue price Is under$100,000.) 1 r
rI Reporting Authority Check box if Amended Return iii. LJ
2 uer's employer aemArcstion number
1 Issuer's name aa
WELD COUNTY, COLORADO 84-6000813
4 Report number
3 Number WO street
915 10th Street G198 8-- i-
8 Date of issue .
S City or town.state.and ZIP code 7
Greeley, Colorado 80632 January 27, 1988
Part II Type of Issue(check box(es)that applies)
7 Check box if bonds are tax or other revenue anticipation bonds► 1EX Issue Price
8 Check box if bonds are in the form of a lease or installment sale► O
9 O Education
10 O Health and hospital
11 O Transportation
12 O Public safety .
13 O Environment(including sewage bonds)
14 O Housing
15 O Utilities
16 DC Other. General Fund Operating Expenses S3 2 0
h,J,,. 4
Part III Description of Bonds
(a) fo) (C) Stated redemption paged (0 Net interest
Matmny date Interest rate Issue price once at matte aim metal Yield cost
17 Final maturity .. 12/30/88 5.375% $3,200,000 $3,200,000
18 Entire issue . . osoffli�����0��///4 $3,200,000 $3,200,000 .925 Years 5.375% 5.375%
Part IV Uses of Original Proceeds of Issue(including underwriters'discount)
19 ---
20 15,000
19 Proceeds used for accrued interest
20 Proceeds used for bond issuance costs(including underwriters'discount) 21 5,0
21 Proceeds used for credit enhancement 22 ---
22 Proceeds allocated to reasonably required reserve or replacement fund 23 ---
23 Proceeds used to refund prior issues 24 83,185,000
24 Nonrefunding proceeds of the issue(subtract lines 20.21.22.and 23 from line 18.column(c)) . .
Part V Description of Refunded Bonds(complete this part only for refunding bonds)
25 Enter the remaining weighted average maturity of the bonds to be refunded ► ___ years
26 Enterthe last date on which the refunded bonds will be called a. ---
27 Enter the date(s)the refunded bonds were issued a.
Part VI Miscellaneous ---
28 Enter the amount(if any)of the state volume cap allocated to this issue e,29 Arbitrage rebate: EC
Check box if the small governmental unit exception to the arbitrage rebate requirement applies O
b Check box if the 6-month temporary investment exception to the arbitrage rebate requirement is expected to apply O
c Check box if you expect to earn and rebate arbitrage profits to the U.S. • D, $3,200,000
30 Enter the amount of the bonds designated by the issuer under section 265(bx3HB)(ii)
31 Pooled financings:
a Check box if any of the proceeds of this issue are to be used to make loans to other governmental units ► O and
enter the amount ►
b Check box if this issue is a loan made from the proceeds of another tax-exempt issue ► O and enter the name of the
issuer ►. and the date of the issue ►
Under be of penury.I declare tout I nave examinee this return and accompanying schedules and statements.and to the best of my knowledge ano whet,
Please they are tr cohere.and complete.
Sign it t, 1-27-88 'Chairman, Board of
Here 'Stgnatureoferror Date Tae County Commissioners
For Paperwork Reduction Act Notice,see page 1 of the Instructions. Form 8038-G (12-86)
Hello