The URL can be used to link to this page

Browse Search

Home My WebLink About901379.tiff AR2227022 ORDINANCE NO. 159 AN ORDINANCE AUTHORIZING THE ISSUANCE AND SALE OF WELD COUNTY, COLORADO SOLID WASTE DISPOSAL REVENUE AND REFUNDING BONDS (WASTE SERVICES CORPORATION PROJECT) SERIES 1990A IN PRINCIPAL AMOUNT NOT TO EXCEED $3,500 ,000 AND SERIES 1990B IN THE PRINCIPAL AMOUNT OF $860 , 000; RATIFYING CERTAIN ACTION HERETOFORE TAKEN; AUTHORIZING THE EXECUTION AND DELIVERY BY THE COUNTY OF A FINANCING AGREEMENT, INDENTURE OF TRUST, SUCH BONDS AND CLOSING DOCUMENTS IN CONNECTION o THEREWITH; MAKING DETERMINATIONS AS TO THE SUFFICIENCY OF REVENUES N J AND AS TO OTHER MATTERS RELATED TO SUCH BONDS; AND REPEALING ACTION N HERETOFORE TAKEN IN CONFLICT THEREWITH. �y WHEREAS, Weld County, Colorado o (the "County") , is authorized ic o by Part 1 of Article 3 of Title 29 , Colorado Revised Statutes >n, ("CRS") , known as the Colorado County and Municipality Development z N Revenue Bond Act (the "Act") to issue bonds to finance one or more z projects, including land, buildings or other improvements and all PIN necessary and appurtenant real or personal properties suitable or [^' used for or in connection with disposing of solid waste and to z enter into financing agreements with others for the purpose of yo providing revenues to pay and further to secure the payment of such H V-+ bonds; and zt WHEREAS, the County heretofore issued and sold its Weld m o County, Colorado Industrial Development Revenue Bonds (Colorado Landfill, Inc. Project) Series 1980 (the "1980 Bonds") under an x o Indenture of Trust dated as of March 1 , 1980 , between the County n - and United Bank of Fort Collins National Association, as trustee 5v for the 1980 Bonds , which 1980 Bonds are presently outstanding in n the aggregate principal amount of $860 ,000; and 0 O WHEREAS, pursuant to a Loan Agreement dated as of March 1 , Pzi to o 1980, between the County and Colorado Landfill Inc. a Colorado • corporation ("Colorado Landfill" ) the proceeds from the sale of the l o 1980 Bonds were loaned to Colorado Landfill for the purpose of e financing a project which was owned by Colorado Landfill and sold to Waste Services Corporation, a Colorado corporation (the o r "Company" ) who assumed the rights and obligations under the Loan o Agreement, such project consisting of a parcel of land within the n r County and certain improvements thereon ("Landfill No. 1") , which o° Landfill No. 1 was and is being used by the Company to provide solid waste disposal facilities and services, and which qualifies as a "project" within the meaning of and as set forth in the Act; and WHEREAS, pursuant to the Act, the County is authorized to refinance Landfill No. 1 and refund the 1980 Bonds by issuing refunding bonds in such amount as the County may determine and applying the proceeds thereof to the payment of the principal, interest and other expenses connected with the refunding of the 1980 Bonds; and 1 9{31379 WHEREAS, the Company intends to acquire an additional site and improve such property to develop another solid waste disposal facility ("Landfill No. 2") ; and WHEREAS, the Company has requested the County to issue, sell and deliver its Weld County, Colorado Solid Waste Disposal Revenue and Refunding Bonds (Waste Services Corporation Project) Series m 1990A in aggregate principal amount not to exceed $2, 500,000 (the o "Series 1990A Bonds") to provide financing for Landfill No. 2 , to 1/40 KJ m establish a reserve fund for the Bonds and to pay certain costs a) a, incidental to the authorization and issuance of the Bonds and Series 1990B in the aggregate principal amount of $860,000 (the x n "Series 1990B Bonds" and, collectively with the Series 1990A Bonds, the "Bonds") in order to provide for the refinancing for Landfill N No. 1 and the refunding of the 1980 Bonds; and z N hi WHEREAS, concurrently with the issuance of the Bonds the M N Company will enter into a Financing Agreement with the County dated as of August 15 , 1990 (the "Financing Agreement") , pursuant to which the County will loan the proceeds of the Bonds to the Company Hip to refinance the cost of Landfill No. 1 , refund the 1980 Bonds and H finance Landfill No. 2 (collectively, the "Project") , to establish z a reserve fund for the Bonds and to pay a portion of the costs n1O incidental to the authorization and issuance of the Bonds and the • o Company will make payments sufficient to pay the principal of, premium, if any, and interest on the Bonds and to meet other • o obligations as herein and therein '4 provided; and 4, w � WHEREAS, there have been presented to the Board of County 0 Commissioners (the "Board") (a) the proposed form of the Financing Agreement and (b) the proposed form of the Indenture of Trust dated as of August 15 , 1990 (the "Indenture") , between the County and a z o corporate trustee to be designated prior to the date of. the E o execution and delivery of the Bonds, as Trustee (the "Trustee") . r o O BE IT ORDAINED BY THE BOARD OF COUNTY COMMISSIONERS OF WELD n COUNTY, COLORADO: o n) 0 Section 1 . Prior Action Approved. All action (not p rn inconsistent with the provisions of this ordinance) heretofore taken by the Board and the officers of the County directed toward the refinancing of Landfill No. 1 , the refunding of the 1980 Bonds and the financing of Landfill No. 2 and the issuance and sale of the Bonds therefor is hereby ratified, confirmed and approved. Section 2 . Project Approved. The County shall refinance Landfill No. 1 , refund the 1980 bonds and finance Landfill No. 2 by loaning the proceeds of the Bonds to the Company in accordance with the provisions of the Financing Agreement and the Indenture for the purposes described above. 2 Section 3 . Authorization and Description of Bonds . To defray the cost of the Project, to establish a reserve fund for the bonds and to pay a portion of the costs incurred in connection with the authorization, issuance and sale of the Bonds, there is hereby authorized and created an issue of industrial development revenue bonds designated "Weld County, Colorado Solid Waste Disposal Revenue and Refunding Bonds (Waste Services Corporation Project) Series 1990A" in aggregate principal amount not to exceed $2,500 ,000 , and "Series 1990B" in the aggregate principal of a N $860, 000 issuable as fully registered bonds in the denomination of N J $5,000 or any integral multiple thereof. The Bonds shall be dated J as provided in the Indenture. The Bonds shall bear interest from their date payable semiannually on February 15 and August 15 of x n each year, commencing February 15 , 1991 . k 0 �y N The Bonds shall be payable, shall be subject to redemption z N prior to maturity and shall be in substantially the form as ',I o provided in the Indenture. The Bonds shall be sold to Sutro & Co. , c r.) of Denver, Colorado at a purchase price not to exceed $2 , 450 ,000 plus accrued interest for the Series 1990A Bonds and $860,000 plus • o accrued interest for the Series 1990B Bonds. The County hereby 1/40 approves of the sale of the Bonds by Sutro & Co. The maximum net H effective interest rate on the Series 1990A Bonds is 9. 60% per z annum and on the Series 1990B Bonds is 9 . 258 per annum, both n ko subject to adjustment in the event of a Determination of o Taxability, as defined in the Financing Agreement, not to exceed x H 308 per annum, which rates are hereby determined to be the maximum o net effective interest rates on the respective series of the Bonds. w • H Section 4 . Determinations and Findings. The following 0 determinations and findings are hereby made in accordance with Sections 29-3-113 , 29-3-114 and 29-3-120 of the Act: -cc Mo (a) The maximum amount necessary in each year to pay the z o principal of and the interest on the Bonds is as set forth in r o Exhibit A to this ordinance. b n (b) The Board has deemed it advisable to establish for use in w connection with the retirement of the Bonds , among other purposes, o the trust fund created and established by the Indenture designated O rn the Reserve Fund. Moneys on deposit in the Reserve Fund shall be used to pay the principal of or interest on the Bonds. There shall be deposited into the Reserve Fund, from the proceeds of the Series 1990A Bonds, an amount equal to the Reserve Fund Requirement (as defined in the Financing Agreement) of the Bonds. (c) The terms under which the Project is to be financed provide that the Company shall maintain, or cause to be maintained, the Landfills and carry, or cause to be carried, all proper insurance with respect thereto. 3 (d) The revenues payable under the Financing Agreement are sufficient to pay, in addition to all other requirements of the Financing Agreement and this ordinance, all sums referred to in paragraphs (a) , (b) and (c) of this Section. (e) The revenues payable under the Financing Agreement are sufficient to pay, in addition to all other requirements of the m w Financing Agreement and this ordinance, all taxes payable pursuant o H to Section 29-3-120 of the Act. wt.) N J OD M Section 5. Documents Approved. The forms, terms and provisions of the Financing Agreement and the Indenture, are hereby approved and the County shall enter into the Financing Agreement wn k and the Indenture in their respective forms as presented to the Board at this meeting with such changes therein as are not z N inconsistent herewith; and the Chair o£ the Board is hereby z authorized and directed to execute and deliver the Financing m to Agreement and the Indenture and the Weld County Clerk to the Board a N is hereby authorized and directed to affix the County seal to and to attest the Financing Agreement and the Indenture. ) o H 1/4O M Section 6 . Form of Bonds Approved; Execution Authorized. z ~ zN The form, terms and provisions of the Bonds are hereby approved and the County shall issue the Bonds in the form set forth in the r o Indenture with such changes therein as are not inconsistent herewith; and the Chair of the Board is hereby authorized and NCO r directed to execute and deliver the Bonds and the Weld County Clerk m to the Board is hereby authorized and directed to affix the seal of w the County to the Bonds and to attest the Bonds. The signatures of ~ the Chair and the Weld County Clerk to the Board on the Bonds and o the seal of the County on the Bonds shall be affixed manually or by 6 facsimile. m my 7J Section 7 . Issuance Actions Authorized. The officers of the m o County shall take all action in conformity with the Act necessary e or reasonably required to effectuate the issuance and delivery o£ the Bonds and necessary or desirable in conformity with the Act to o ds finance the Project and to carry out, give effect to and consummate � o the transactions contemplated by this ordinance, the Financing n Agreement and the Indenture, including without limitation the col filing of any statements or reports with the Internal Revenue Service or with the Secretary of the Treasury or his delegate necessary to maintain the exemption of interest on the Bonds from federal income taxation and the execution and delivery of any closing documents to be delivered in connection with the issuance and delivery of the Bonds. Section 8 . Project Approval. The Board hereby approves the Bonds and, pursuant to its Ordinance No. 67 , passed and adopted on January 28 , 1980 , has heretofore approved Landfill No. 1 , including the following information regarding Landfill No. 1 : Landfill No. 1 consists of approximately 110 acres of real property, all of 4 which are currently permitted for use as a landfill and certain improvements thereon and related equipment and other personal property, all owned by the Company; and the County hereby approves Landfill No. 2, for which the Company currently owns an option to purchase real property consisting of 490 acres located in northern goo Weld County, of which approximately 170 acres are currently permitted for use as a landfill which will be owned by the Company. %c N N v Section 9 . Refunding of 1980 Bonds; Notice of Refunding and Prior Redemption. All the 1980 Bonds are being called for redemption prior to their respective maturities on September 1 , O111 n 1990 at a redemption price equal to the principal amount of each o bond so redeemed plus accrued interest thereon to the designated )3N-) redemption date plus a premium of two percent (28) of the principal z m amount thereof. The Trustee is hereby authorized and directed to . o give notice of refunding of the 1980 Bonds. The notice of NI m refunding and prior redemption hereinabove required to be given for N the 1980 bonds shall be given by: (i) publication one time in a CII financial newspaper published and of general circulation in the1-3 QD financial community in Denver, Colorado and (ii) mailing a copy of Hk the redemption notice by certified or registered first-class z postage prepaid mail not less than 30 days before the redemption r o date to each registered holder of the 1980 bonds if such registered holder has furnished his name and post office address to the 7e � Trustee and such are known to the Trustee. o w The Notice o£ Refunding and Prior Redemption to be given as ~ described in the preceding paragraph shall be in substantially the o following form: ti [*1 v 70 O • tI o r d 0 L o Orn 5 [Form of Notice] NOTICE OF REFUNDING AND PRIOR REDEMPTION OF WELD COUNTY, COLORADO INDUSTRIAL DEVELOPMENT REVENUE BONDS (COLORADO LANDFILL, INC. PROJECT) N DATED MARCH 1 , 1980 O �' VD N W J NOTICE IS HEREBY GIVEN that the Board of County Commissioners of o O Weld County, Colorado (on the request of Colorado Landfill, Inc. , z its successors and assigns) , has refunded and provided for the n payment and discharge of the County' s Industrial Development o Revenue Bonds (Colorado Landfill, Inc. Project) dated March 1 , 1980 (the "Bonds") and has exercised the County' s option to redeem all zcN.) of said Bonds prior to their respective maturity dates. N 0 Z N All of the bonds are hereby called for redemption prior to their respective maturities on September 1 , 1990, at a redemption o price equal to the principal amount thereof plus accrued interest A Lo thereon to the redemption date plus a premium of two percent (28) HF of the principal amount of each Bond (the "Redemption Price") , z payable in lawful money of the United States of America at the n VD ri principal offices of United Bank of Denver National Association, o Corporate Trust Department, 1700 Broadway, 7th Floor, Denver, P:1 Colorado 80274-0093 , as the successor trustee (the "Trustee") under o the Indenture of Trust dated as of March 1, 1980 (the "Indenture") pursuant to which the Bonds were issued. After the designated tai redemption date, interest shall cease to accrue on the Bonds. O O The moneys to be deposited with the Trustee for the payment of the Redemption Price o£ the Bonds are proceeds o£ a proposed issue o of refunding bonds by Weld County. In the event for any reason the c County fails to issue and deliver such proposed refunding bonds and r make the deposit with the Trustee not later than August 31 , 1990 , d this notice shall be null and void and the Bonds shall be returned to the registered owners thereof and continue to be paid pursuant O0 to the terms therein and in the Indenture. o n � O � DATED at Denver, Colorado, this day of July, 1990. UNITED BANK OF DENVER NATIONAL ASSOCIATION [End of Form of. Notice] 6 Section 10 . Nature of Obligation. A portion of the costs associated with the Project will be paid out of the proceeds of the Series 1990A Bonds with the balance being paid by the Company from its funds and the Bonds will not be the general obligations of the County. The Bonds, including interest thereon, shall never constitute the debt or indebtedness of the County within the meaning of the Constitution or statutes of the State of Colorado or of the home-rule charter of the County nor shall anything contained in this ordinance or in the Bonds, the Financing Agreement, or thetd Indenture, or any other instrument give rise to a pecuniary aE4 liability or a charge upon the general credit or taxing powers o£ w the County, nor shall the breach of any agreement contained in this ordinance or in the Bonds, the Financing Agreement, the Indenture, or any charge upon its general credit or against its taxing powers, W n the County having no power to pay out of its general funds, or o otherwise contribute any part of the costs of the Project, nor tr.)) power to operate the Landfills as a business or in any manner, nor z ni shall the County condemn any land or other property for Landfill „t o No. 2 , nor contribute any land or other property to the Project. mt.) to Section 11 . Ordinance Irrepealable . After the Bonds are o issued, this ordinance shall be and remain irrepealable until the y v) Bonds and the interest thereon shall have been fully paid, H cancelled and discharged. Z n �o Section 12 . Severability. If any section, paragraph, clause o or provision of this ordinance shall for any reason be held to be x invalid or unenforceable, the invalidity or unenforceability of o such section, paragraph, clause or provision shall not affect any of the remaining provisions of this ordinance. iWy � n Section 13. Repealer of Measures . All bylaws, orders, regulations, resolutions and ordinances, or parts thereof, of the mix County inconsistent herewith and with the documents hereby approved z o are hereby repealed to the extent only of such inconsistency. This E c repealer shall not be construed as reviving any bylaw, order, r o regulation, resolution or ordinance, or part thereof. d n Section 14 . Public Hearing. A public hearing concerning this o -4 ordinance authorizing and approving the issuance of bonds and o Landfill No. 2 was held on July 11 , 1990 in the Board' s chambers , o rn All interested persons were invited and allowed to present their objections. Section 15 . Emergency. Pursuant to federal tax laws, the Series 1990B Bonds must be issued and delivered prior to September 1 , 1990 to accomplish an orderly and efficient refinancing of Landfill No. 1 and refunding of the 1980 Bonds. Therefore, the Board of County Commissioners of Weld County, Colorado, pursuant to Section 3-14 (6) of the Weld County Home Rule 7 Charter, does hereby declare this Ordinance to be an emergency ordinance. The above and foregoing Ordinance No. 159was, on motion duly made and seconded, adopted by the following vote on the 30th day of July, A.D. , 1990 . mm or BOARD OF COUNTY COMMISSIONERS CD N G�2C WELD COUNTY, COLORADO rn N ATTEST: � 77 Weld County Clerk k n to the Board i l Gene Bran ner, C air o z N �X� `2nv�� u�c,� ��„ Tai � .1/ � D putt Clerk t the Board Constance L. Harb t � o 4 ) bi N /�! v ida a N D AS TO FORM: "-- /� t,i x „toil i " George Kennedy ` to o j H -o m--- Hr Z n: C.W. Rir 1/4O ,County Attorney r o tm m y 74 H O a, La 77 H ttl n O 77 i p v xy o o t» o r Read and Approved: July 30, 1990 0 Published: September 6, 1990 in the New News n o co . --, O n f- Effective: July 30, 1990 O o 8 WELD 1990A PMT SCHEDULED SCHEDULED OUTSTANDING NUM DATE PRINCIPAL RATE INTEREST PAYMENT BALANCE 08-15-90 2,500, 000 1 02-15-91 20,000 . 00 9 .250 115,625 . 00 135,625 . 00 2,480, 000 2 08-15-91 20,000. 00 9 .250 114,700 . 00 134,700 . 00 2,460, 000 40, 000 . 00 230,325 . 00 270,325 . 00 m °' or l0 N 3 02-15-92 20,000 . 00 9 .250 113,775 .00 133,775 . 00 2,440, 000 L0 rn 4 08-15-92 25,000 .00 9 .250 112,850 . 00 137 ,850 . 00 2,415,000 x 45,000 .00 226,625 .00 271,625 . 00 n 0 5 02-15-93 25,000. 00 9 .250 111, 693.75 136,693.75 2,390,000 z N 6 08-15-93 25,000.00 9 .250 110,537 .50 135,537 .50 2,365,000 z � Pilo 50,000.00 222,231.25 272,231.25 c to M 7 02-15-94 25,000.00 9 .250 109,381.25 134,381.25 2,340,000 gla 8 08-15-94 30,000.00 9 .250 108,225. 00 138,225. 00 2,310,000 tiv H . 55,000. 00 217,606 .25 272, 606 .25 z NI --- Ow 9 02-15-95 30,000 . 00 9 .250 106,837 .50 136, 837 .50 2,280,000 M o 10 08-15-95 30, 000 . 00 9 .250 105,450. 00 135,450. 00 2,250,000 x 0 60, 000 . 00 212,287 .50 272,287 .50 R w Ky r 11 02-15-96 30,000 . 00 9 .250 104,062 .50 134,062.50 2,220,000 n 12 08-15-96 35,000 . 00 9 .250 102,675 . 00 137, 675. 00 2, 185,000 d Mir 65,000 . 00 206,737 .50 271,737 .50 WO Zo 13 02-15-97 35,000.00 9 .250 101,056 .25 136,056 .25 2, 150,000 r o 14 08-15-97 35,000.00 9 .250 99,437 .50 134,437 .50 2, 115,000 0 nr 70,000.00 200,493 . 75 270,493. 75 0 0 0 15 02-15-98 40,000.00 9 .250 97,818 .75 137,818. 75 2,075,000 p rn 16 08-15-98 40,000.00 9.250 95,968. 75 135,968. 75 2,035,000 80,000 .00 193,787 .50 273,787 .50 17 02-15-99 40,000 .00 9 .250 94, 118 . 75 134, 118. 75 1,995,000 18 08-15-99 45,000.00 9.250 92,268.75 137,268. 75 1,950,000 85,000. 00 186,387 .50 271,387 .50 19 02-15-00 45,000 . 00 9 .250 90,187 .50 135, 187 .50 1,905,000 20 08-15-00 50, 000 . 00 9 .250 88, 106 .25 138, 106 .25 1, 855,000 95,000 . 00 178,293.75 273,293 .75 10 EXHIBIT A TO WELD COUNTY BOND ORDINANCE (A) The maximum amount necessary in each year to pay the principal of and the interest on the Series 1990A Bonds is as follows: � w off to N W J W 01 K O Z• N 'Tr' N Z N J h] O CI N a N [T1 m V] O H ko M H H $' N n 1/40 h x• o • w MH O n O 6 tj7� 7d O Eo � o r d O o• � o nal o al 9 WELD 1990A PMT SCHEDULED SCHEDULED OUTSTANDING NUM DATE PRINCIPAL RATE INTEREST PAYMENT BALANCE 21 02-15-01 50,000 . 00 9 .250 85,793.75 135,793.75 1,805,000 22 08-15-01 55,000 . 00 9 .250 83,481.25 138,481.25 1,750,000 hi to 105,000. 00 169,275. 00 274 ,275. 00 0 '- l° N 23 02-15-02 55,000 . 00 9 .250 80, 937 .50 135, 937 .50 1,695,000 ii 1 ;341 24 08-15-02 55,000 . 00 9 .250 78,393 . 75 133,393 .75 1,640,000 � x m 110,000. 00 159,331.25 269,331.25 kn o :,, t.) 25 02-15-03 60,000. 00 9 .250 75,850.00 135,850 . 00 1,580,000 z N 26 08-15-03 65, 000 . 00 9 .250 73,075.00 138,075 .00 1,515,000 ...] hi a [g N 125,000.00 148,925 .00 273,925 . 00 an) x 27 02-15-04 65,000. 00 9 .250 70,068.75 135,068 .75 1,450,000 y t1/4:03 28 08-15-04 70,000 .00 9 .250 67, 062.50 137,062 .50 1,380,000 H Z N 135,000 . 00 137, 131.25 272 ,131.25 n va b 0 29 02-15-05 70,000 .00 9 .250 63, 825 . 00 133,825. 00 1,310,000 RII 30 08-15-05 75,-000. 00 9 .250 60,587 .50 135,587 .50 1,235,000 x o m •• 145,000 . 00 124,412 .50 269,412 .50 • w m 31 02-15-06 80, 000. 00 9 .250 57, 118.75 137,118 .75 1,155,000 O 32 08-15-06 85,000 . 00 9 .250 53,418.75 138,418 .75 1,070,000 d Mir W O 165,000. 00 110,537 .50 275,537 .50 � o tai o 33 02-15-07 85,000. 00 9 .250 49,487 .50 134,487 .50 985,000 r d 34 08-15-07 90,000 . 00 9 .250 45,556 .25 135,556 .25 895,000 cm, of- 175,000 .00 95,043 .75 270,043.75 ` -, 0 n i-- 35 02-15-08 95,000 . 00 9 .250 41,393.75 136, 393 . 75 800,000 Q °' 36 08-15-08 100,000. 00 9 .250 37, 000. 00 137,000.00 700,000 195,000. 00 78,393 .75 273,393.75 37 02-15-09 105,000 . 00 9 .250 32,375. 00 137,375 . 00 595,000 38 08-15-09 110, 000.00 9 .250 27,518 .75 137,518.75 485,000 215,000. 00 59,893. 75 274,893.75 39 02-15-10 115,000. 00 9 .250 22,431.25 137,431 .25 370,000 40 08-15-10 370,000 . 00 9 .250 17, 112 .50 387, 112 .50 0 485,000. 00 39,543 .75 524,543 .75 11 WELD 1990A PMT SCHEDULED SCHEDULED OUTSTANDING NUM DATE PRINCIPAL RATE INTEREST PAYMENT BALANCE TOTAL 2,500, 000 . 00 3, 197,262 .50 5,697,262 . 50 ACCRUED INTEREST FROM 08-15-90 0. 00 AVERAGE INTEREST RATE 9 .250% BOND YEARS 34,565. 000 k N AVERAGE LIFE 13. 826 YRS. `'' --I a) , n b-4 0 ',b N Z N Z N J M O tq N Q N trJ ID Ul• Co H tri H r Z N n 1/4o ✓ o b 7C r 0 • w ;U r L*J n O d W o • a PI o r d O I-' O N a ima Oa) 12 WELD 1990E PMT SCHEDULED SCHEDULED OUTSTANDING NUM DATE PRINCIPAL RATE INTEREST PAYMENT BALANCE 08-15-90 860,000 1 02-15-91 10,000 . 00 9 .250 39,775 . 00 49,775 . 00 850,000 2 08-15-91 10, 000 . 00 9 .250 39,312 .50 49 ,312 .50 840,000 IV ed 20, 000.00 79,087 .50 99 ,087 .50 a N La J 3 02-15-92 10,000 . 00 9 .250 38,850. 00 48,850. 00 830,000 m O1 4 08-15-92 10,000 . 00 9 .250 38,387 .50 48,387 .50 820,000 ?11 xn 20,000. 00 77,237.50 97,237 .50 '4 o N 5 02-15-93 10,000. 00 9 .250 37,925 . 00 47,925.00 810,000 z N 6 08-15-93 10,000. 00 9 .250 37 ,462 . 50 47,462 .50 800,000 ,ii -a' m m 20,000 . 00 75,387 .50 95,387 .50 m �' Eno 7 02-15-94 10,000.00 9 .250 37,000 . 00 47,000 . 00 790,000 s Lo 8 08-15-94 10, 000.00 9 .250 36,537 .50 46,537.50 780,000 H� z 20,000 . 00 73,537 .50 93,537 .50 n o 9 02-15-95 10,000 . 00 9 .250 36,075.00 46,075.00 770,000 t ,, 10 08-15-95 10,000 .00 9 .250 35,612 .50 45,612 .50 760,000 r o w 20,000. 00 71,687 .50 91,687 .50 z, ~' n 11 02-15-96 10,000 . 00 9 .250 35, 150.00 45, 150.00 750,000 z 12 08-15-96 15,000 . 00 9 .250 34,687 .50 49,687 .50 735,000 e ir W 0 25,000. 00 69,837 .50 94,837 .50 • o N o 13 02-15-97 15, 000.00 9 .250 33,993.75 48,993. 75 720,000 d 14 08-15-97 15, 000 . 00 9 .250 33,300.00 48,300. 00 705,000 n ,_. o 4u 30,000.00 67,293 .75 97,293 .75 o ni-- Om 15 02-15-98 15,000. 00 9 .250 32,606 .25 47, 606 .25 690,000 16 08-15-98 15,000. 00 9 .250 31,912 .50 46,912.50 675,000 30,000 . 00 64,518 .75 94,518.75 17 02-15-99 15, 000 . 00 9 .250 31,218 .75 46,218.75 660,000 18 08-15-99 15,000.00 9.250 30,525. 00 45,525 . 00 645,000 30,000. 00 61,743.75 91,743 . 75 19 02-15-00 15,000. 00 9 .250 29,831.25 44, 831.25 630, 000 20 08-15-00 20,000. 00 9 .250 29, 137 .50 49, 137 .50 610,000 35,000 . 00 58,968 . 75 93,968 .75 14 EXHIBIT A CONTINUED (B) The maximum amount necessary in each year to pay the principal of and the interest on the Series 1990B Bonds is as follows: hn ro o r 1/40 N W V V � N zn k 0 • N z N Z N J hJ a [rJ N �+7 73 m O H 1/40 tj]� H f Z N O xr 0 W • H t9 n O d b7+r 7i � o VI 0 r d CI I-4 O W o al n O 13 WELD 1990B PMT SCHEDULED SCHEDULED OUTSTANDING NUM DATE PRINCIPAL RATE INTEREST PAYMENT BALANCE 21 02-15-01 20,000 . 00 9 .250 28,212 .50 48,212 .50 590,000 22 08-15-01 20,000 . 00 9 .250 27,287 .50 47 ,287 .50 570,000 m w o r-• 40,000 . 00 55,500.00 95,500 . 00 tl) N w -4 tOrn 23 02-15-02 20,000.00 9 .250 26,362 .50 46 ,362 .50 550,000 24 08-15-02 20,000. 00 9 .250 25,437 .50 45,437 .50 530, 000 5- m k 40,000 . 00 51, 800.00 91,800 . 00 y N z 25 02-15-03 25, 000 .00 9 .250 24,512 .50 49,512 .50 505,000 z t,' 26 08-15-03 25, 000.00 9 .250 23,356 .25 48,356 .25 480,000 vi• 2 c N 50, 000. 00 47,868.75 97, 868 .75 m x [n o 27 02-15-04 25,000. 00 9 .250 22,200. 00 47,200. 00 455,000 t � 28 08-15-04 25,000. 00 9 .250 21,043. 75 46,043.75 430,000 z N 50,000 . 00 43,243 .75 93,243.75 c-) o 29 02-15-05 25,000 . 00 9 .250 19,887 .50 44,887 .50 405,000 o 30 08-15-05 30,-000 . 00 9 .250 18,731.25 48,731.25 375,000 m •• w w r 55,000.00 38,618.75 93,618 .75 n 0 31 02-15-06 30,000.00 9 .250 17,343.75 47,343. 75 345,000 0 32 08-15-06 30,000. 00 9 .250 15, 956 .25 45,956 .25 315,000 c 60,000 . 00 33,300. 00 93,300. 00 Z o mo 33 02-15-07 35,000 . 00 9 .250 14,568. 75 49,568. 75 280,000 ° 34 08-15-07 35,000 . 00 9 .250 12,950. 00 47,950.00 245,000 o N . 70,000 . 00 27,518.75 97,518.75 a Om 35 02-15-08 35, 000 .00 9 .250 11,331.25 46,331.25 210,000 36 08-15-08 40,000.00 9.250 9,712 .50 49,712.50 170,000 75,000.00 21,043 . 75 96,043. 75 37 02-15-09 40,000 .00 9 .250 7,862 . 50 47 ,862 .50 130,000 38 08-15-09 40,000.00 9.250 6,012.50 46,012 .50 90,000 80, 000. 00 13, 875.00 93,875 .00 39 02-15-10 45,000.00 9 .250 4, 162 .50 49, 162 .50 45,000 40 08-15-10 45,000.00 9 .250 2, 081.25 47 ,081 .25 0 90,000 . 00 6,243.75 96,243.75 15 WELD 1990B PMT SCHEDULED SCHEDULED OUTSTANDING NUM DATE PRINCIPAL RATE INTEREST PAYMENT BALANCE TOTAL 860, 000 . 00 1,038,312 .50 1,898,312 .50 ACCRUED INTEREST FROM 08-15-90 0 .00 AVERAGE INTEREST RATE 9 .250% BOND YEARS 11,225. 000 "21 m AVERAGE LIFE 13 . 052 YRS. o r CD N 0 0I O 01 t+J 1A n K O b N .Z N Z N J 'TJ O [+] N C N L+7 d1• O H �o tj!� H r Z N � O 7C• r O W hzf r n 0 x d Wit Pin Eo b7 0 r e � r O a o C] r Om 16 HEARING CERTIFICATION DOCKET NO. 90-25 RE: ISSUANCE OF COUNTY QUALIFIED PRIVATE ACTIVITY (SOLID WASTE DISPOSAL REVENUE) BONDS A public hearing was conducted on July 30, 1990, at 9;00 A.M. , with the following present: Commissioner Gene R. Brantner, Chairman Commissioner George Kennedy, Pro-Tem Commissioner Constance L. Harbert Commissioner C.W. Kirby Commissioner Gordon E. Lacy Also present: Acting Clerk to the Board, Tommie Antuna Assistant County Attorney, Bruce T. Barker Director of Finance and Administration, Donald D. Warden The following business was transacted: I hereby certify that pursuant to a notice dated June 27, 1990, and duly published June 28, 1990, in The New News, a public hearing was conducted to consider the issuance of County Qualified Private Activity (Solid Waste Disposal Revenue) Bonds. Donald Warden, Director of Finance and Administration, made this matter of record. Mr. Warden explained that this hearing was continued from July 25, 1990, because it is required by Ordinance No. 69-A that there be a firm commitment for the purchase of these Bonds. Mr. Warden submitted a letter from Sutro and Company stating that Allstate Insurance Company has offered to purchase the bonds from Sutro and Company, subject to various conditions. Mr. Warden read the letter, along with the conditions, into the record. He said it is recommended that the Board proceed with this matter, with the condition that if Allstate does not approve this Bond, the money will not be put into escrow. Mr. Warden also submitted a letter and a Cash Flow Analysis from Anderson and Whitney, Certified Public Accountants, that they can accommodate the bonded indebtedness through the cash flow. Mr. Warden recommended that the Board favorably consider the issuance of the County Qualified Private Activity Bonds, because it appears to meet all of the criteria for Ordinance No. 69-A, and it appears to be financially feasible. Mr. Warden read Ordinance No. 159, Issuance of County Qualified Private Activity (Solid Waste Disposal Revenue) Bonds into the record. Eric Stowe, Bond Counsel, came forward to correct a few typographical errors in the Ordinance. He said the date shown is incorrect; the principal amount for the Series A Bonds should be $2,450,000 instead of $2,366,700; and the Section numbers, beginning with Section 10, are incorrectly numbered. Commissioner Lacy questioned who signed the letter from Anderson and Whitney. Bill Hedberg, of Anderson and Whitney, said the authorized party who signed the letter was Chuck Anderson. There was no public comment concerning this matter. Mr. Warden again stated that in the event the terms which Allstate has for purchase are not met, the County will not proceed with the closing. Commissioner Lacy moved to approve Ordinance No. 159 on an emergency basis, with the corrections as stated. Commissioner Kirby seconded the motion, and it carried unanimously. ORD 159 Page 2 RE: CERTIFICATION - WASTE SERVICES CORPORATION This Certification was approved on the 6th day of August, 1990. / APPROVED: Lijill41/11/22 // BOARD OF TY,COUNTY CO COMMISSIONERS ATTEST: WELD TY, COLO Weld County Clerk to the Board ene R. Brantner, hairman V aY: SQL L'11 �� .�t t«ti c6 Deputy Clerk to the Board Geo Kenne y, Pro-Tem -- - Constance L. Harbert 21/ C.W. Kirby Gor n cy TAPE #90-30 DOCKET #90-25 PL0777 ORD 159 STATE OF COLORADO ) )s.s. COUNTY OF WELD ) David H. Reynolds, being duly sworn, says that he is publisher of The New News, a weekly newspaper published in Keenesburg in said County and State; that said newspaper has a 1111 general circulation in said County and has been continously and uninterruptedly published therein, 11510 during a period of at least fifty--two consecutive weeks prior to 91D. R. D. the first publication of the annexed $1o: notice; that said newspaper is a t newspaper within the meaning of the il act of the General Assembly of the i State of Colorado, entitled "An Act !!It t to regulate the printing of legal notices and advertisements, " and $ ��F amendments thereto; that the notice A of which the annexed is a printed copy taken from said newspaper, was : #1 published in said newspaper, and in 1 101oU N the regular and entire issue of every number thereof , ° ti ! Kg once a week for 1 1 geAA successive weeks; that said notice itQ- go was so published in said newspaper Of4'" proper and not in any supplemento thereof , and that the first e publication of said notice as a i 1 aforesaid, was on the ; 1 0 lig lt) day of 19 76 z r z V ��. and the last on the `0 day of e $ls..50-c., g ; tt, - _. - V . ,j-7-, / Subscribed and sw .rn t before me this ALL4 day of , 19 X):.v .. .My Commission ex ,;,o 15,1 , . REAL, ant q� Fart Cie -3 "d Title 2e Co�or■de Bev� StM9tnes("OBSW, mown V +�rP�M :Ad(the Act")to Imue Do or p tional one � and afinanc a appurtenant meats a.y� wyuoerd sends with aaaf tolore and e a el omty�eOolbaEot�IOM�r1}Vu1� b •amt Revenpm Bonds a6 • ) SdOf FIN5 '1 0(. ��) tom,nder y tws�a for dthe 1Bi Aa of each�1,9a100d�[Boondsll aarre, , a to "t tlaSt gun 11 anoint •�d theel�Hands w the Oourn4tyl•and Colorado Colorado Landfill Inc. a he- Mane tt�m(the wand sold to Waaba.Serviea •Colorado �r by LM •a �lw and car4in �(�nd 1' er wait as a paj�,� within the oAs, � �the ct.% rlefe is author itd o refinance LandfillNo.. 1 and drrefund�to900 Bonds by issuing baaOuch GYmmt9 � applying -Bondy @nd teaof alp mind dher'e> �onn�acted refunding uire an a site and me such property to develop another solid waste and WHERificeal EAS, touts requested the County to issue,sell and delver its Weld County,Colorado Sulltl Waste Disposal Revenue and Benda Bonnie:ate Services Corporation Project Series 1990A in ... .gab pads amount.not to exceed 91,500,000(the' 980A B ),W.Provide Hristaing for l�No.Y, Sera MOB as reserve fund for the Bonds d par ceof rtain then Bopti xutaanrdama with the Seriesof the 9MABOnds,the"Bon the ds')in order fo pane for the oorrm 1 aandA the refunding La 910 and Wuance Bo 'Company will enter t a Financing Aaee�ment with the County u 15 1990 (athee "F l t"), _ t to smith the CoyunnttYn/cewii�lloboanl be proceeds d the Bands ro the Ca�li blials a researvefundd cat forr the-Bo ds end toreplanyndy a poPortionthe 9bn�ce and aats incidental to the authorization$ end the ttmojof"Project"),Bondi aannd0 and to td the Can ww make paayndments nntici spay the pNsdpalol,premium, ff oaeney,,and interest °nNRiEBEMI then have i� t aathe•Bwrd d therein • maa (the BoaN") (a15tba9W (the ' f d the F and (h) Proposed tbm of t lode d Trust dated a d A 1 between(me an)d a ca'pwste trustee b 6edesfgsetd Pntsr a the nab d the execution arddelivm d the BE 1Tfb` BY THE BOARD OF COUNTY COMMISSIONERS OF WELD cowry,COLORADO: Section 1.Prior Action Approved. All action (not inddeandtoward tcoceistent with the provisions of this ordinance)egerunding heretoforehheher ttoffoorree taken by 7 Me Booaanr 1980 Bonds aka. ligenfhde Nod ahe 1.teet�aa _t of Bie n Node ef�1r1900 bonds and titWrs'findllB Na 1 .. loadpg the a Bonceeedtoaki,{wte any inncaccordance with the provisions of the FlMncing.Agreement set blish ceserve fund 1ndSection en atratr�apsY�a portion of the cafe ionoceofrred in • To connection with a aauthori,cost of izze Project,issuanceeaandd salad the Ba IY •uthormad and Ban Jaime f industrial deve amei�t ream bondetionded�ea d "Weld 9, DisposaluaBras ( Servlca Corptatia pro tan) I990A" b 000,and"Saes 19808" in the aureate prkncipd of R10 900 loanable a fully tin or any,' multiple thereof.IU- Smith shell be dated as provided b the Wane. cant from' del peyote ssueymliannuallyon February a15 and August 15 of each year,commencing F and ll in the Mace Boind�an pthe be paYable, shall TThe Bonds shall beeefsotM W SuW redemption Coera 1990A Bonds and . d Denv to baaColnoradsouaatinaterpeusrchasek a price to here' h approves of afarest the sale d e Bonds by Sara&d�Co� maximu plus m entire sub crued t for the Series 199013 Bona. te rest u• ate n the fvdls a. the Sera .te 9ion of TaxaMa�ylity,and a the n the Financing Aaeeme�not t exceed 5p�I per annum,which rata are t be the manual net !vead in tints rsatt rata on-thereaective sote�d the fiends 4. Determinations and Findings. The to amen debrmimni ens and findings are hereby made in accordance wMi 29,9-7 993-114 and 998-190 of the AM: amount necessary In each year to pay the principal of and the interest on the Bonds is as set lards to A Bathis Lid R advisable t bHah for use 91 connection with the retirement d the Bonds, amaK end created and eta Bdaetdp by the Indasbre designated the Reserve Fund. Moats on t Pond I zed t pay the prineb 1a1 or or btest on the Bonds.There tall be depated tin 11e • 9��e noceede u Seri¢1910A Bonds,an amount equa)t the Reserve Fund Requirement(a defined in�e F the Benda.- ,terms_theand c the Project is t ho-tied,AI provide that the re:sp y shag maintain, or cause b he-'°. the_ and carry,able under a cause Financing be sense all paper tawtoa wl ill t6 r�ion to all other'reganxments of the (1p revenue and u der the Fussing Agreement are all ntill ref--erred to ifs tiraphs o pay.in addition to��uirements of the Agana nandAthhiss ordinance,all taxes payable pursssuged. The forms, WU aixl aanntt to Section 29-1140?d�"�tSsions of the Financing AeloauArect. �the�p�i_u[hir�¢s._ a 5 the an0 the�ty eenter into the thto deliverpeeling with such es therein as arse nott ccooeWttent AMrewtfre als;n their d tthe Chair 2 n D•� ; taui�haerebyy aauthorizeddEand directed to affixxtthe CCounnty l t and t Amapa natttesstt the Financing Agreemen Indenture and the t and the e 8. Form of Bands Approved; Execution Authorized. The form, terms and provisions of the Bads are hereby approved and the County shell Casa¢ the Bade 1n,the form set forth in the Indenture with such changes therein as are nor inconsistent herewith; and the Chair of the Bard is hereby authorized and directed to execute and deliver the Bode and the weld County Clerk to the Board is hereb authorized and directed to affix the sal of the County t the Bads and t attest the Bands: The en 'd tae their Weld County Clerk t the Bard on the Bads ant the seal of the County on the Bade shall be affixed manually ort�. Section 7: Issuance Actions A The officers of the Cpua shall take all action in conformity with the Act n ry o reasonably required t effectuate the issuance and very of the Bonds and or desirable t cordau aaaanaoiLy with the Act t finance. Project and t carry out,give ect to and consummate the mss• on nx hated by this ordinance the Fisaneing land the Indenture, and without limitation the (ling d any sa b or reports with Use internal Revenue or with the Secretary of the Treasury or his delegate necessary a maintain the aempton of:tercet on thaltde.rom its a a>ution and the executolcand delivery d.any closing document!t 'be delivered t ronnatis onth the men Boar ebyvap d as and. Section 8. nuaket al. The Bard hereby eppoyel the Bonds and pursuant cons t sts of Ordinance ly 07, peered and adopted an l nary a which has ore approved Lanitten for use s a l N .1: Landfill and certain in 1 movement a tely 110 sera of equial pment �rseperrson�aylaw are wi an ean by the real yand the County 190, loaned hereby es Innately 2 for whof ite at a tely 17O acres are currently permitted for use a a landfill which will be owned by the Company. cLon 9. Refunding of 1910 Bonds; Notice of Ref usdae and Prior Redemption All Me 1910 Boob are holy redemption prig t respective maturities on Septemberlus accrued interest thereon to the s 1�,.199p90 at a price egpuuaall Cotrefo theeach bond laGp•i of Then ticeof prior, atnt�haendre prior d ��on here renabby ove rreginadnd and irre¢ddd the given [ted on�t a notice 1980e plus a bopda e.hal b gvenn bin: publication loner imene in a fbiamc +ewspa gabbed and d 1 cfrcuation t t Handal in Colorado and (ti)maBmg a copy oft plion notice by certified or registered first-class postage r mall than 80 days befas4re t redemWon date t each registered holder oft 1980 banded such registered has furnished. and pot oHke address Fo sae Trustee and nice are known t t Trustee. Notice of Rddceding and Prior Redemption to be given as described in the precsamng paragraph shell be le subatatllakll' the form: - - NOTICE OF REFUNDING ANDPRIOR REDEMPTION II71)U M( UNPTY�Y�jp�p��(p�pg; IIARCA 1,me 1 If tic, Y GIVEN M d .'�ad Mold CamColorado l 'a Ear b ) d.teS Iwo (ma�a. 'r hasOw _ bowlOre llimir rBt�vlties ohmaSyaptemher11N0.ofa ,i° Ra�� am W ogiirle to the N Iewfd dYt. Ada to latatestartt ' Ads Se muter egoto L.' me•tle 1�.re %rWe Fitt Praf afloat&Rmydl�an d a �� me tre �. .Wemedto ndl-md. eh.B nv eaMoed m ow.ss Bivele t Denver.Colorado,this an of JWY.MI BANK 10. d •. wW G _q t6e IINAd the t•'•i .,:.«. • d Me � ot . d Mist'or or any Ito power w operate Me a a m a * itM.4.. `;, + ,r :At, *et.tor gg n=8:Ot.�.fm Ye or es�. PAs�ramhy.Be . Iyryrtfq •..,. • remit aot `dseasr .eF eFJ.w,order, e�1,ie.oMW aa or.rd�oe' e t it= is _ M�B � yel�a f ..y��.ems,(.. MI. �. r ` �a m"e, 'd .I.oCMIs toNtec' ail as v�comp Nye T ttie A ., No. Ireton��reoode4 adopted by the atmhig rate on Me ; w •- Qat to the Baird• i rks BOARD OF , •r CO. L. .�y gp lb, twr L'a.tiaaeg A Pate U The New News Page 12 Continued from Page 10' A • ypE{,p COURTS; ORDINp�( .. -- fowl*_team___amount necessary in eau) to pay pr6kiput of a.d the Interest m the Saila 19B0A 9anb a as ;. NELD.1990A -.._..-' 'NT SCHEDULED .. SCHEDULED OUTSTANDING Wal .DATE PRINCIPAL RATE • .INTEREST PAYMENT OB-15-90 2,500.E.. 1 02-15-81 20,000.00 9.250 115,625.00 135,625.00 ,26480, 2 OB-15-91 20,000.00 9.250 114,700.00 - 134,700.b0 2,460, . 40,000:00 230,325.00 270,325.00 3 02-15-92 20,000.00 9.250 113,775.00 133,775..00 2,44040p 4 08-15-92 25,000.00 9.250 ' 222,850.00 137,850.00 `2,415,0100 45,000.00 226,625.00 • 271,62540 5,02-15-93 25,000.00 9.250 111,693.75 136,653.75 2,390,800_ 6 08-15-93 ' 25,000.00 9.250 110,537.50 135,537.50 2,365,000 50,000.00 ' 222,231.25 272,231.25 7,07-15-94 25,000,40 9.250 00�@�► 4ve0siss-94 30,000.00 9.250 105,225.00 138,225:00 2,310000 55,000.00 217,606:25 272,606.25 9 02-15-95 30,000.00 9.250 Y06;837.50 136,037.50 2,280gi000:. 10 08-15-95 ` 30,000.00 9.250 105,450.00 135,450.00 2,250,000 60,000.00 212,287.50 272,207.50 11 02-15-96 30,000.00 .9.250 104,062.50 134,062.50. 2,220,000 12 OB-15-96 35,000.00 9.250 '7' 102,675.00 137,675.00 1,.185,000 65,000.00 206;737.50 _ 271,737.50 13 02-15-97 35,000.00 9.250 101,056.25 136,056.25 2,150,000 14 08-15-97 35,000.80 9.250 99,437.50 134,437.50 2,115,000 70,000.00 200,493.75 270,493.75 `15 02-15-98 40,000.00 9.250 ' 97,818,75 137,818.75 2,075,000 16 08-15-96 40,000.00 9.250 95,968.75 135,968.75 2,035,000 80,000.00 193,787.50 273,787.5,0 17 02-15-.99 40,000.00 9.250 ' 94.,118.75 134,118.75 1,995,000 18 08-15-99 45,000.00 9.250/ 92,268.75 137,268.75 1,950,000 85,000..00 186,387.50 271,387.50 - • 19 A2-15-00 45,000.00 9, 50 -90,187.50 135;187.50 1,905,000 20 06-15-00 50,000.00 9:250 88,106.25 138,106.25 - 1,855,000 95,000.y0�0 178,293.75 273,293.75 ?_ _ _Q,1 _ 50,0�QC0 0 9.,250 .85,793.75 61 - 'SS,UDO.00 9.250 83,481.25 135 783;05 1,805,000 138,481.25 1,750,000 . I 105,000.00 169,275.00 274,2.75.00 23 02-15-02 - 55,000.00 9.250 80,937.50---- 24 08-15-02 .55,000.00 9.250 78,393.75 135,937.50 1,695,000 133,393.75 1,640,000 110,000100 159,331.25 269,331_.25 '25.02715-03 60,000.00 9.250 75, '850.00 00 1, ----,.. 26 08-15-03 65;000.00 9.750 73,075.00 135850. .51544. 138,,075.00 1,5 ' , 125,000.00 148,925.00 273,925.00 p C .. 27 02-15-04 65,000.00 9.250 70,068.75 28 08-15-04 70,000.00 9,250 67 062.50 135,068,75 1,450,000 I . 137,062.50 1,380�i000 135,000.00 137,131.'25 27 y x 2 131-.2S ._. 29 02-15-05 70,000.00 9.250 63,825.00 30 Q8-15-05 , 75,.000.00 9.250 133,825:00 1,20 60,587.50 135,5@7.50 1,23-4.88 145,000.00 ,124,412.50 269,412.50- - - 31102-15-06 80,000.00 9.250 57;118.75 32.08-15-06 . 85,000.00 9.250 137, 18.75 1;155,000 53',418.75 138,441@,75 1,07000^ 165,000.00 110,537.50 275;537.50 -:33 02-15-07 85,000.00 9.250 ; a'34 08-15-07 90,000.00 9.250 45,457;50 134,487.55 995,000 .45,556.25 135,556.25 895,000 .e,.,, 175,000.00 .55,043.75 .. 270,043.75 - 55 02-15-08 -95,000.00 9.250 , ---- 36..08-15-08 100,000.00 9,250 41.,.393.75 136,393.75 808,000 37,000.00 137,000.00 700,000 195,000.00, 78,393'.75 273,393./5 37 02-15-09 105,000.00 9.250 32,375;00 137,375.88 5995,000 36'08-15-09 110,000.00 9.250 • :27,518.75 137,518.75 485,000 , 215,000.00; 59,893.75 274,893.75 39=02-15-10 115,000.:00 9.250 40'08-15-10 370,000.00 9.250' 22,431.25 337,431.55 370,000 17,112..50 ,387,132.50 O 485,000.00 39;543.75 524,543.75 TOTAL - 2,500,000.00 3,197,262.50 5,697,262..50 ACCRUED INT8R88T PROM 08-15-90 0"t 00 AVERAGE INTEREST RATE' 9.250• HpND:; Rg AVERAGS LIPS- 34,565.00.0 ' ` 13.026 Ma. - tk_tlrupd on Pane 14 The New News Page 14 () Page>Z_ ...EMMhk A.CaoWaed anc _ ARL amount masm y in each Year b d d pay the.prinNp and the interest ea tha Hs-19198 Heeds is as MELD 19908. - . !1%t:c MT SCHEDULED --SCHEDULED - 2J f$t 6IITSTANDING:.. SUM DATE PRINCIPAL RATE SNTEREST 'PAYMENT '.. RALANC$ 08-15-90 860.000 1. 02-15-91 10,000.00 9.251/,; 39,.775.00 49,775.00 ' 850,000. 2 08-15-91 10,000.00 9.250 39,312.50 49.,312.50 840,000 20,000.00 79,087.50 99,.087.50 3 02-15-92 10,000.00 9..250 38,850.00 48,850.00 830,000 4 08-15-92 10,000.00 9.250 38,387.50 48,387.50 820,045 20,000.00 /7,231-50 97,237.50 5 02-15-93 - 10,000.00 9.250 37,925.00 47,995.00 " 8104551,,,: 6 00-15-93 10,000.00 9.250.. 37,.462.50 47,462..50 800,00t:-, 20,000.00 75,387.50 95,387.50 7 02-15-94 10,000.00 9.250 37,000.00 - 47,000.00 790,541, 8 08-15-94 10,000.00 9.250 36,537.50 46,537.50 780,NL 20,000.00 73,537.50 93,537:50 9.02-15-95 10,000.00 9.250 36,075.00 46,075.00 770,510_- 10 08-15-95 10,000.0,0 9.250 35,612.50 45,612.50 MAW 20,000.00 71,687.50 91,657.50 11.02-15-96 10,000.00 9.250 35,150.00 45,150.00 750 12 08-15-96 15,000.00 9.250 34,687.50 49,687.50 735, .' ' 25,000.00 69,837.50 94,837,50 19 02-15-97 15,000.00 9.250 33,993.75 48,993.75 720,000 14 08-15-97 15,000:00 9.250 33,300.00 48,300.00 705,000 30,000.00 ,67,293.75 97,293.75 1502-15-98 15,000.00 9.250 32,606.25 47,606:25 690,000 16' 08-15-98 15,000.00 9.250 31,912.50 46,912.50" 675',000 30,000.00 64,518.75 94,518,75 . 17'02-15-99 15,000.00 9:250 31,218.75 - 46,218.75 .660,000 18.08-15-99 , 15,000.00 9.250 ,30,525.00 45,525.00 -- 645,000 . 30,000.00 61,743.75 .91,743.75 19 02-15-00 15,000.00 9.257/ 29,831.25 44,831.25 630,000 2A. 08-15-00 20,000.00 9.250 29,137.50 49,137.50 610,000 35,000.00 58,968.75 93,968.75 21 02-.15-01 20,000.00+£9.250 28,212.50 48,212.50 590,000 22 08-15-01 - 20,000.00 9.250 27,287.50 47,287:50 570,000 40,000..00 55,500.00 95,500.00 23 02-15-02. 20,000.00 9.250 - 26,362.50 46,362.50 - 550,000 2408-15-02 20,000.00 9.250 25,437.50 45,,437.50 530,009 404000.00: . 51,800.00 -.-91,800.00 25 02-15-03. 25,000.00 9.250- 24,512.50 49,512.50 5544505 ' 26 08-15-03 25,000.00 9.250 23,356.25 48,356.25 400,000 50,000.00 47,868.75 97,868.75 27 02-15-04 25,000..00 9.250 .22,200.00 47,200.00 45#9005- 28x08-15-04 25,000.00 9:250 21,043.,75 46,043,85 43310:000.: 50,000.00 43,243./5 93,243:75 29 02-15-05 25,000.0.0.. 9.250 '19,887.50 44,887.50 409,60! 30 08-15-05 30,000.00 9.250 .. _ 18,731.25 48,791.25 375,40 55,000.00 38,618.75 - 93,615.75 31-02-15-06 -- 30,000.00 9.250 17,.343.75 47,343.75 ,,345,000'.- 32 08-15-66 30,000.00 9'.250 15,956.25. 45,956.25 315,0N . 60,400.00 33,300.00 93,300.00 33 02-15-07 35,000,009.250 14,568.75 49,568.75. 280,000 , 34 08-15-07 35,000.00 9.250. 12,950.00 47,950.,00 .245,000 70,000.00. 27,518.75 97,510.75 35 02-15-08 35,000.00 9.250 11,331.25 46,331.25.. 210,000 36 X15-08,-: 40,000:00- 9.250- ;. 9,712.50 49,712.50 - 170,000 75,000.00 21,043.75 96,043.75- 3702-15-09 40,000.00 9.250, 7,862.50 47,862.50- 130,000 38 08-15-09 40,000:00 9.250 - 6,012.50 46,012..50 90,000 '°"-.'' - 80;1/0,1.Da - 13,875.00 -43,875.00 39 02-15-10 45,000:00 9:250. . 4,162.50 49,162'_50 ,45,000 : 40 08-15-10— 45,000.00. 9.250 : ,2,081.25. 47,081.25 ' 0 90,000.00 6,243.75 96,243.75 - F. TOTAL.. 860,000.00.- 1,038,312.50 1,898,312.50 - ` ACCRUED INTEREST FROM 08-15-90' - 0.00 AVEahGE.INTEREST RATE 9.2508 - - BOND YEARS 11,225.000 _ i AVERAGE LIFE 13:052 YRS. i - NOTICE OF PUBLIC HEARING STATE OF COLORADO ) ss. COUNTY OF WELD ) NOTICE OF PUBLIC HEARING REGARDING ISSUANCE OF COUNTY QUALIFIED PRIVATE ACTIVITY (SOLID WASTE DISPOSAL REVENUE) BONDS Docket No. 90-25 PUBLIC NOTICE IS HEREBY GIVEN that the Board of County Commissioners of Weld County, Colorado, will hold a public hearing at the Commissioners ' Hearing Room at 915 10th Street, Greeley, Colorado, on Wednesday, July 11 , 1990, at the hour of 9 :00 a.m. , on the proposed issuance by the County of qualified private activity (solid waste disposal revenue) bonds in an aggregate principal amount not to exceed $3 ,500 ,000 to refund the County' s Industrial Development Revenue Bonds (Colorado Landfill, Inc. , Project) Series 1980 and to finance the acquisition , construction and installation of land and equipment for and as an additional solid waste disposal facility for Waste Services Corporation, a Colorado corporation (the "Company") , as owner. The Company' s principal office is located at 6037 77th Avenue, Greeley, Colorado 80634 , in unincorporated Weld County, Colorado. The additional solid waste disposal facility is proposed to be located at 40000 Weld County Road 25 . Following the hearing, the Board of County Commissioners will consider and act upon an ordinance authorizing the issuance of the bonds. All interested persons are invited to attend the public hearing, which will be the only public hearing held prior to the consideration of the resolution and the issuance of the bonds. BOARD OF COUNTY COMMISSIONERS WELD COUNTY, COLORADO BY: MARY ANN FEUERSTEIN COUNTY CLERK AND RECORDER AND CLERK TO THE BOARD BY: Tommie Antuna, Deputy DATED: June ,'_7, 1990 PUBLISHED: June 28, 1990, in The New News r, —s ''J `' —u. _ i C3. i . _ ... .._...1 rso Jul. -6 LI 3: 39 c:i-rr,......s.. OF COLORADO lr (.Rif?J .. ss.. TO THE.LG �,D COJNFY OP WELD ) . eReynolds, �.., t, i.�t� ✓1 C� .�:(,. ',.� _l r"1 C.! duly. sworn ,. says thsit he is publisher i.T,.sher o i the N_.W i'r,,; .7 (:'•tom L r ' n said rv4 -t,. :.i .i.:-I . ._{..n ._ .,._i�_i i"3 _t. rzi i ..:(.:t�..((; �.. ; ,..ri t. Fit:..t,'" that said Il c':'t 2_:p.:r:.l p=•. has cl general circulation in said County NOTICE OF PUBLIC HEARING and has been continuously :.:tnd .• 1.1','1 t er- -t_ip tee 1 y published t herc`gin , STATE OF COLORADO ) sa. "'l i i r:'.ri C:j <3 _ter:l.(_}r i of a.t t _i.E Et S t: COUNTY OF WELD) p .�� '1.1Vconsecutive ��-._l NOTICE OF PUBLIC HEARING fifty weeks ".r REGARDING ISSUANCE OF the e 'l 1.t"`_::.'�: s t.J. l l i.t."a t i C n of t "i a annexed COU�NTTYMQTYUAI P that F , �- t DLSPOSAL REVENUE)BO notice; said newspaper 4pei i Docket No.90-25 newspaper within t.. ., of .t..' ' PUBLIC NOTICE IS HERE 13.:,:'4 t:li::. moaning f _'.l l•. BY act of the General '.'�s s:.'.f{i b l y of t..h e C'GIV�ENts�that theof Weld County, State s ��.�.. Colorado, will bold a public {a' Colorado, e n t i't i o d : An Act �. ring 915 10th Street',the ce�miaaionera 'i:c r'(- u.l,r: t.o the pr"intng of legaling Ro • ':..' .: ct t l C i advertisements, " and a.m.,C the'proposedof qualified isBsuan�ee by te amendments thereto; t,:..'lat tl iE notice ice activlg wild waste a�a1 cl which h t � - r, reveun�uea) in �an� aggregate _. the ri r t t'l c x (_: i printed:7 t...t i us��ial and metoCo�� copy taken from said newspaper, ter c?r � Seriesfinance the 1980 and acquislot published in said newspaper, r.n r0- in constructioo and ti motion of the•_' l8pd_,and equ►pmen OL as an L s:(_. regular it C'•(:� entire issue ':�'f anal 6olid waste dlaposal for Wsate Setvl every ni m!lle:r thereof , C?#'1ce a sT7--:-.`r:v Mien a Colorado week for see that said corpo(9tir (the ., ny„), II • tlr i' U.F:'.:i�'•. {:>i �_._._._ weeks;K Z't rB._., owner. Tl�e aced 0-3 s c77th office is located a :1O11[5.C:E. W ra:; '_e pl..'.b l i.F..h[i CI in T Ei i ti Avenue, Greeley'"Colorado 80834, in unincorporated Weld County i 1(::'w`."s p i l l.:e r proper »t n t_1 n ca t:. :i.i' a i 1 y Colorado. The additional solid } r4 }. .,. waste disposal'facillty u3 d rv:i p -men t ;:l 1,.. eo, , and that t. ,.l'1,:. to be located at 40000 Wei ounty y i r , Road 25. hearing,. the first l'?u b.s..i' <_t i 7:; of'f said.i C j notice t..i c__ a s Following the ring,. M , l-s , Board of County Commissioners O. t. ::i:t 1 C! ;, v i' n t.:. will consider and act upon an izinh �ir�t�egted .. .. _. o��'d[�bonds. All air persons are invited to attend the 0-4 d l); -14 _ _ _._. :1.99'), public hearing, which will be the " only public hearing held prior to and F':c_' ; t:.a — n the the consideration or the resolution and the issuanceM�of t thebonds. VILLU COUNTY wWRADO BY' MARY ANN FEUERSTEIN ,\ COUNTY CL AND CLERK AND -- RECORDER AND CLERK TO THE BOARD 1- ,/�C..1� BY: Tommie Antuna,Deputy __._�_.._...._._.. _...._....__._._.'S2 _ .� _... . BY: June 27, 1990 PUBLISHED: June 28, 1990, in Subscribed and sworn ti, befor me _..4.2 ._.. '.ear._.._ .. Notary -�'t_:h:!. .� My c_(:mm i.r,;s L::ln expires .3- AF-7-s— . SUTRQ� sin,{ f 570 17111 Street,Suits 1060 DOnVCr,CoIonian 80202 508.602!020 July 24, 1990 Mr. Brad Keirnes President Waste Services Corporation 6037 77th Avenue Greeley, Colorado 80634 Re: County of Weld, Colorado Solid Waste Disposal Revenue and Refunding Bonds (Waste Services Corporation Project) Dear Mr. Keirnes, Pursuant to our telephone conversation Allstate Insurance Company has offered to purchase the above referenced Bonds from Sutro & Company subject to the following terms and conditions. 1. The Interest rate shall be 9.25%. 2. Inspection and approval ot sites and facilities by Allstate Insurance and/or their consultants, 3. Documentation as provided by, or acceptable to Allstate Insurance. I wilt contact you once the representatives at Allstate have scheduled their site;visit. Should you require any additional information please feel free to contact me at (303) 5924921. • Sinecrely, • Michael O. Hark First Vice President r C"tl eject) fc • 1S ywe * es , et" tpal- T' i U 5 t u ., ANDERSON & WHITNEY, P.C. A NdERSON CERTIFIED PUBLIC ACCOUNTANTS /-1 •\ • ©WHITNEY ■ III ■ ■ ■ Waste Services Corporation Greeley, Colorado At your request, we have performed the procedures enumerated below with respect to Cash Flow Analysis of Waste Services Corporation prepared by Sutro & Co. Such analysis was prepared in connection with the issuance of Weld County Industrial Development Revenue Bonds for Waste Services Corporation. Our review was made solely to assist you in evaluating the reasonableness of the Cash Flow Analysis, and our report is not to be used for any other purpose. The procedures we performed are summarized as follows: 1. We compared the amounts on the Cash Flow Analysis which were extracted from the historical financial statements for the years ended July 31, 1987, 1988, and 1989 and for the ten month-period ended May 31, 1990 with the historical financial statements of Waste Services Corporation and found them to be in agreement. 2. We compared the amounts on the Cash Flow Analysis which were extracted from the forecasted financial statements of Waste Services Corporation and found them to be in agreement, except for the amount of interest expense and principal payments on the Bonded Debt. The different amounts reflect the revised debt service requirements of the bonds. 3. We read the other financial information presented on the Cash Flow Analysis for reasonableness in connection with the historical and forecasted financial statements and the revised debt service require- ments, and nothing came to our attention that caused us to believe that the information is incorrect. Because the above procedures do not constitute an audit conducted in accordance with generally accepted auditing standards, we do not express an opinion on the Cash Flow Analysis prepared by Sutro & Co. In connection with the procedures referred to above, no matters came to our attention that caused us to believe that the amounts should be adjusted. Had we performed additional procedures or had we conducted an audit of the financial statements in accordance with generally accepted auditing standards, matters might have come to our attention that would have been reported to you. This report relates only to the items specified above and does not extend to any financial statements of Waste Services Corporation taken as a whole. G , ti— 414;17-, tr. July 27, 1990 Greeley, Colorado MEMBERS OF AMERICAN INSTIME OF CERTIFIED PUBLIC ACCOUMAJTS SEC AND PRNATE COMPANIES PRACTICE SECTIONS-AICPA DMSION FOR CPA FiWS ACCOUNTING FIRMS ASSOCIATED.INC. Hello