HomeMy WebLinkAbout900182.tiff RESOLUTION
RE: APPROVE SOLID WASTE DISPOSAL PROJECT FOR WASTE SERVICES
CORPORATION, AS OWNER, MAKING FINDINGS AND AUTHORIZING THE
ISSUANCE OF REVENUE BONDS IN CONNECTION THEREWITH, AND
AUTHORIZING REPRESENTATIVES OF THE COUNTY TO TAKE ACTION
INCIDENTAL THERETO
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, Waste Services Corporation, a Colorado corporation
(the "Company") , has requested of Weld County, Colorado (the
"County") assistance in financing the acquisition, construction
and installation of land, capital improvements to land, equipment
and other related capital items to be owned by the Company for use
as a solid waste disposal landfill facility to be located in the
County (the "Project") and generally available to the public and,
in connection therewith, in the refinancing of the County' s
outstanding Industrial Development Revenue Bonds (Colorado
Landfill, Inc. , Project) Series 1980 dated March 1, 1980, (the
"1980 Bonds") (the Company being the successor corporation of
Colorado Landfill, Inc. ) , and
WHEREAS, the County desires to encourage the Company to
proceed with the Project in order to further the purposes of the
Colorado County and Municipality Development Revenue Bond Act (the
"Act") , and
WHEREAS, no public official of the County has exercised or
will exercise any discretionary function on behalf of the County
with respect to the financing of the Project or the proposed
refinancing of the 1980 Bonds , has a personal financial interest
in or will personally and financially benefit from the financing
of the Project or has other conflicts of interest relating to the
financing of the Project or the proposed refinancing of the 1980
Bonds.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, as follows:
Section 1 . Approval of the Project; Findings .
The County hereby approves the Project and makes the
following findings in connection therewith:
/ '11/ , • 900182
Page 2
RE : WASTE SERVICES CORPORATION
A. The Project constitutes a "project" for purposes of
the Act in that it consists of land and necessary real and
personal properties, other than inventories, raw materials
and other working capital, suitable or to be used for or in
connection with a solid waste disposal facility to be owned
and operated by an industrial and business enterprise.
B. The Project will promote the public purposes of the
Act and the safety, welfare, convenience and prosperity of
the inhabitants of Colorado by providing more adequate
facilities for the disposal of solid waste and by promoting
industry and developing trade and other economic activity
through the inducement of the Company to expand its
operations in the County, mitigating the threat of
unemployment and securing and maintaining a balanced and
stable economy in the County and in Colorado.
Section 2. Authorization of Bond Financing.
The County will issue its Solid Waste Disposal Development
Revenue Bonds up to a maximum aggregate principal amount of
$2 ,500, 000 to finance the Project and to refinance the 1980 Bonds
in a maximum aggregate principal amount of $875, 600, such bonds
(both to finance the Project and to refinance the 1980 Bonds) (a)
to be issued in compliance with the Act, (b) to be subject to such
terms and conditions as the Company and the County, by resolution,
shall approve, (c) to be granted an allocation from the State
Ceiling for "private activity bonds" pursuant to Section 146 of
the Internal Revenue Code of 1986 , as amended, and from the
Statewide Balance for "private activity bonds" for 1989 pursuant
to the "Colorado Private Activity Bond Ceiling Allocation Act" in
the amount not to exceed $2 ,500 ,000, and (d) not to pledge the
faith and credit or taxing powers of the County, but to be payable
solely from the revenues derived from payments to be made by the
Company in respect of the financing of the Project and the
refinancing of the 1980 Bonds .
Section 3 . Authorization of County Representatives to Take
Action in Connection Herewith.
The Chairman of the Board of County Commissioners and the
County Clerk and Recorder of the County are hereby authorized and
directed to take all action necessary to accomplish the purposes
of this resolution, including the negotiation of agreements in
connection with the financing of the Project and the refinancing
of the 1980 Bonds.
900182
Page 3
RE: WASTE SERVICES CORPORATION
The Chairman and the Clerk are hereby specifically authorized
and directed to make application, if requested by the Company, in
a form and with the materials provided by the Company, subject to
the County' s approval , to the executive director of the Colorado
Department of Local Affairs and to take such other action as may
be necessary or desirable, in the best interest of the County, to
obtain an allocation of the Statewide Balance for the Project,
provided that such action shall be in the absolute discretion of
the County and the Company shall have no recourse if the County
does not apply for or obtain an allocation from the Statewide
Balance for the Project.
Section 4 . Effective Date.
This resolution shall take effect immediately upon its
adoption.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 21st day of
February, A.D. , 1990.till yue BOARD OF COUNTY COMMISSIONERS
ATTEST: WEL UNTY, COLORADO
Weld County Clerk and Recorder Wee Skit-
and Clerk to the Board Gene R. Brantner, Chairman
G rge Kennedy, Pro-'Fe —
eputy County C k
APPROVED AS TO FORM: onstance L. arber
— CKii`by -- —
l^
ounty Attorney
Gordon
900182
WELD COUNTY, COLORADO
CENTENNIAL CENTER
GREELEY, COLORADO 80631
February 28, 1990
Mr. Timothy W. Schultz
Executive Director
Department of Local Affairs
1313 Sherman Street, Room 518
Denver, Colorado 80203
Re: Weld County, Colorado
Solid Waste Disposal Development Project -
Waste Services Corporation
Dear Mr. Schultz:
In accordance with the Colorado Private Activity Bond
Ceiling Allocation Act, C.R.S. 24-32-1701 et seq. (the "PAB
Act") , enclosed is Weld County, Colorado's application (including
required attachments) for an allocation from the statewide
balance for the issuance of private activity bonds for the Solid
Waste Disposal Development Project - Waste Services Corporation
described therein. In connection with the submission of this
application and in order to make such application, as a
"designated local issuer, " and receive an allocation from the
statewide balance prior to September 15, 1990, the County hereby
relinquishes all of its direct allocation of $1, 003 ,975 to the
statewide balance as provided in the PAB Act for the benefit of
this Project.
The County also requests that, if the requested allocation
is made by you, the allocation award period determined by you
extend to at least September 1, 1990, from the date allocation
award is made.
Thank you for your kind consideration of this application.
Very truly yours,
WELD COUNTY, COLORADO
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900182
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