HomeMy WebLinkAbout920583.tiff ,,„_
rThf tin's , _,, ,,,,_., , Th , . ___, .. .
DEPARTMENT OF PLANNING SERVICES
PHONE(303)356-4000,EXT.4400
119
TC [1 .- 915 10th STREET
GREELEY,COLORADO 80631
C.
COLORADO
February 4, 1992
B. L. Ventures, Inc.
P. 0. Box 2233
Greeley, CO 80632
Subject: Amended USR-899 - Performance Guarantee Agreement.
Dear Mr. Lamb:
As required by the amended performance guarantee agreement approved by the Board
of County Commissioners on September 19, 1990, the staff has reviewed the
collateral you submitted and has determined that a 5.2% increase is warranted.
Section 9.0 of the performance guarantee agreement states that the interest in
the account shall be accumulated and may be credited against increases in the
price index so long as the total accumulated interest in the fund meets or
exceeds the increase in the price index. The interest accumulated for the first
year exceeds the price index increase, so no additional funds will be required
at this time.
For the first year of review of the price index, the County used fourth quarter
1990, first quarter 1991, second quarter 1991, and third quarter 1991 price index
changes. From this time forward, we will be reviewing the price index changes
around September 1 of each year, so that our review will correspond with the
maturity date on your certificate of deposit. This review date will correspond
with the time period established in the performance guarantee agreement. The
most current information available for the previous four quarters will be
reviewed in September.
Please let me know if you have any questions.
Sincerely yours,
Lanell J. Swanson
Current Planner
LJS/sf
c: Clerk to the Board of County Commissioners ;OT 6-1,0\100---.. 920583
Lndk4-- $/4
Tio G '7 L/
Hello