HomeMy WebLinkAbout980122.tiff RESOLUTION
RE: DECLARE INTENT TO REIMBURSE THE EVANGELICAL LUTHERAN GOOD
SAMARITAN SOCIETY WITH THE PROCEEDS OF A FUTURE TAXABLE OR
TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND FOR CERTAIN CAPITAL
EXPENDITURES TO BE UNDERTAKEN BY THE EVANGELICAL LUTHERAN GOOD
SAMARITAN SOCIETY AND PROVIDING CERTAIN OTHER MATTERS IN
CONNECTION THEREWITH
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, the Evangelical Lutheran Good Samaritan Society (the "Society") proposes
to acquire, construct, and equip a 30-unit congregate care health-care facility (the "Project") at
the site of its existing Bonell Good Samaritan Center in the City of Greeley, which site is within
the boundaries of the County of Weld, and
WHEREAS, the County currently intends and reasonably expects to participate in a
taxable or tax-exempt borrowing to finance the Project on behalf of the Society, including an
amount not to exceed $3,000,000 to reimburse the Society for the portion of the capital
expenditures incurred or to be incurred on the Project subsequent to the date, which is 60 days
prior to the date hereof but before such borrowing, within 18 months of the date of such capital
expenditures or the placing in service of the Project, whichever is later (but in no event more
than three years after the date of the original expenditures of such moneys), and
WHEREAS, the Board hereby desires to declare its official intent, pursuant to 26 C.F.R.
§1.150-2, to reimburse the Society for such capital expenditures with the proceeds of the
County's future taxable or tax-exempt borrowing on behalf of the Society, and
WHEREAS, the County's future taxable or tax-exempt borrowing on behalf of the
Society shall be payable solely from loan repayments made by the Society or from the
proceeds of other collateral provided by the Society and shall not be a debt or other financial
obligation of the County.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that:
Section 1. Declaration of Official Intent. The County shall, presently intends, and
reasonably expects to finance certain capital expenditures of the Society
for the Project through the issuance of Industrial Development Revenue
Bonds on behalf of the Society.
Section 2. Dates of Capital Expenditures. All of the capital expenditures covered
by this Resolution were made not earlier than 60 days prior to the date of
this Resolution.
980122
CC FILE ORD200
RE: INDUSTRIAL DEVELOPMENT REVENUE BOND - EVANGELICAL LUTHERAN GOOD
SAMARITAN SOCIETY
PAGE 2
Section 3. Issuance of Bonds or Notes. The County presently intends and
reasonably expects to participate in a taxable or tax-exempt borrowing
within 18 months of the date of the expenditure of moneys on the Project
or the date upon which the Project is placed in service or abandoned,
whichever is later(but in no event more than three years after the date of
the original expenditure of such moneys), and to allocate an amount of
not to exceed $3,000,000 of the proceeds thereof to reimburse the
Society for its expenditures in connection with the Project.
Section 4. Resolution Number. This is the first Resolution of the County
concerning all or a portion of the Project.
Section 5. Confirmation of Prior Acts. All prior acts and doings of the officials,
agents and employees of the County which are in conformity with the
purpose and intent of this Resolution, and in furtherance of the Project,
shall be, and the same hereby are, in all respects ratified, approved, and
confirmed.
Section 6. Repeal of Inconsistent Resolutions. All other Resolutions of the
Board, or parts of Resolutions, inconsistent with this Resolution are
hereby repealed to the extent of such inconsistency.
Section 7. Effective Date of Resolution. This Resolution shall take effect
immediately upon its passage.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 26th day of January, A.D., 1998.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST:
.,! Constance L. Harbert, Chair
Weld Countvit
►
, W. H.Webs er, ro-Tem
BY:
wow
Deputy Clerk``. �
/Geor E. Baxter
APP AS T ORM: EXCUSED DATE OF SIGNING (AYE)
Dale IA. Hall /
ounty A rney /, 74 ��yeti
,Barbara J. Kirkmeyer
980122
ORD200
NOTICE OF PUBLIC HEARING CONCERNING THE ISSUANCE OF BONDS BY WELD COUNTY
COLORADO TO FINANCE A PROJECT FOR THE EVANGELICAL LUTHERAN GOOD
SAMARITAN SOCIETY AND LUTHERAN BROTHERHOOD HERITAGE PROPERTIES
FOUNDATION
DOCKET NO. 98-11
NOTICE IS HEREBY GIVEN that Weld County, Colorado (the "County") will conduct a
public hearing concerning the approval of the issuance by the County of its Industrial Development
Revenue Bonds (The Evangelical Lutheran Good Samaritan Society Project) Series 1998 in the
aggregate principal amount of approximately$3,000,000 (the "Bonds"). Proceeds of the Bonds will
be a loan to The Evangelical Lutheran Good Samaritan Society (the "Society") to finance the
acquisition, construction, improvement and equipping of a 30-unit congregate care health-care
facility located at 708 22nd Street in the City of Greeley, Colorado (the "Project"), to fund a reserve
fund for the Bonds and to pay certain costs of issuing the Bonds. The Bonds will constitute special
limited obligations of the County payable solely from amounts received by the County pursuant to
a Loan Agreement between the County and the Society. The principal owner and operator of the
Project is the Society, Lutheran Brotherhood Heritage Properties Foundation and/or a joint venture
established by the Society and Lutheran Brotherhood Heritage Properties Foundation. All
interested parties are invited to present comments at the public hearing regarding the issuance of
the Bonds and the use of the proceeds therefrom. Written comments to be presented at the
hearing may be submitted to the Weld County Clerk to the Board's Office at 915 10th Street,
Greeley, Colorado 80632. The public hearing will be held in conjunction with the Board of County
Commissioner's meeting at 9:00 a.m. on Wednesday, February 18, 1998, in the First Floor Meeting
Room at the Weld County Centennial Center located at 915 10th Street, Greeley, Colorado 80632.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
DATED: January 26, 1998
PUBLISHED: January 28, 1998, in the Platteville Herald
Affidavit of Publication
STATE OF COLORADO
Coon ty of Weld SS. NOTICE OF PUSLIC HEARING
CONCERNINGTNE ISSUANCE
1 A. Winkler Riegel of said County of Adams being OF BONDS By WELD COUNTY
duly sworn,say that I am publisher of COLORADO TO FINANCE A
PROJECT POR THE
PLATTEVILLE HERALD EVANGELICAL LUTHERAN
a AND SAMARITAN SOCIETY
that the same us a weekly newspaper per of general AND IRTHEAAN
circulation was printed and published in the town of SROTNERNOOD HERITAGE
PROPERTIES FOUNDATION
FORT LUPTON DOCKET NO,N-11
in said county and state that the notice of
advertisement,of which the annexed is a true copy has NOTICE IS HEREBY GIVEN
been published in said weekly newspaper for Mat Weld Comfy.Colorado
(the'County")will conduct
ONE consecutive weeks: that the notice was aPublcheadngeoneerning
published in the regular and entire issue of every the approval a the Issuance
number of said newspaper during the period and time by the County otm levenue
of publication of said notice and in the newspaper Development Revenue
proper and not in a supplement thereof: that the fist Bonds (The Evangelical
publication of said notice was contained in the issue Lutheran Good Samaritan
of said newspaper bearing the date of
in ins
Prolect)Bettis 1998
in e aggregate principal
amount of approximately
JANUARY 28. A.D. 1998 and the S3.000.000 (the 'Ronde).
last publication thereof, in the issue of said be aloaa of the Donal well
newspaper,bearing date, be a l ah Goodo ihe Evangelical
Lutheran eS Samaritan
e (the "Society") n,
the the Zak day of iANUARY 1998, finance the acquisition,
that said oonhruetlon,improvement
and equipping of a 30-unr
HERALD congregate core health-
PLATTEVILLE eae facility located at ma
has been published continuously and uninterruptedly 22nd Street In the City of
during the period of at least fifty-two consecutive Greeley, Colorado (the
weeks next prior to the first issue thereof containing 'Propwn,to fund a reserve
said notice or advertisement above referred to: and heed for the Bonds and to
that said newspaper was at the time of each of the pay chain costs of bating
publications of said notice duly qualified for that Me lands. The Bonds will
purpose within the meaning of an act entitled. "An commute special imlted
Act Concerning Legal Notices, Advertisements and oblpotions of the County
Publications and the Fees of Printers and Publishers povobesoieiyhomomounts
thereof. and to Repeal all Acts and Parts of Acts in received by the County
Conflict with the Provisions of this Act" approved pursuant to a Lean
April 7, 1921, and all amendments thereof, and Agreement between me
particularly as amended by an act a ed,March 30, CountyandtheSoclety.The
19 ,and an act spot ed y 1 1. • principal owner and
operator of the Prolect lathe
Society, Lutheran
Brotherhood -Heritage
fs>" Properties Foundation and(
Pg Ifsher delolniveniureeatabBshetl
by the Society and Lutheran
Brotherhood heritage
Subscribed and swom to before me this 28th day Properties Foundation, AN
of Interested parties are Invited
JANUARY A.D. 1998 to intent comments atThe
pubic 44242/
Isuanc edfnhe 60MM and
? ��n' .• theouse of th Bpn!ono
yF '!//.GlMe Wr of ihe procesaF
(' therefrom. Wrnten
Notary comments to be presented
at the hearing may be
P.O. BOX 125 submitted to the Weld
County Clerk to the Board's
Office at 915 10th Street
Greeley, Colorado 80632.
FT. LUPTON, CO 80621 The pubic hearing we be
held x,conjunction wish the
Board of County
o,�I Rr PUS Can l*sioner'a Meeting at
EEF�_ 9:03 a.m. an Wednesday,
"4.'".."•••• ••lte MeeFebruary ting Room a 998,in the Fiat
•
• Weld County Centennial
J.ELAINE Center located at 915 10th
Street. Greeley, Colorado
y', L0NGHU,-sr , - '°°�
Jr �' -BOARD OF COUNTY
• �� COMMISSIONERS
WELD COUNTY.
(<'41f C43��•,ti� COLORADO
;J DATED: January 26,1998
Published In the Plattevile
My Commission expires December 21,2001 Herald January 28.1998.
CERTIFICATE OF MAILING
The undersigned hereby certifies that a true and correct copy of the foregoing Notice of
Hearing, Docket #98-11, was placed in the United States mail, first class mail, postage prepaid,
addressed to the following interested parties.
DATED this 3rd day of February, 1998.
Beehive Homes of Colorado
920 54th Avenue Suite 200
Greeley, CO 80634
Greeley Place Retirement Residence galia) al 4toiri
1051 6th Street Deputy Clerk to the Board
Greeley, CO 80631
Sterling House of Greeley
1999 38th Avenue
Greeley, CO 80634
Villa At Greeley, Inc.
1750 6th Avenue
Greeley, CO 80631
Garden Square at Westlake
3151 West 20th Street
Greeley, CO 80631
Fairacres Manor
1700 18th Avenue
Greeley, CO 80631
Centennial Health Care Center
1637 29th Avenue Place
Greeley, CO 80631
Kenton Manor Health Care Center
850 27th Avenue
Greeley, CO 80631
Gray Cara West
3705 Carson
Evans, CO 80620
Windsor Health Care Center
710 3rd Street
Windsor, CO 80550
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