HomeMy WebLinkAbout970709.tiffV{IELb► COUNTY COUNCIL
P 0 Box 758 • Greeley, CO •970-356-4000 x 4780 • Fax 970-352-0242
FOR IMMEDIATE RELEASE
Date: March 26, 1997
Contacts: Council Secretary Beverly Thomas
970-356-4000 x 4780 Fax: 970-352-0242
Council President Pam Malcom 970-330-3941
COUNTY COUNCIL CONTINUES REVIEW OF FINANCE CORPORATION
Citizens met with the Weld County Council at its March 18 meeting. The Council
had been asked to respond to citizens' concerns regarding the relationship between
Weld County and the Weld County Finance Corporation. Council members reported
that as of March 18, they had found nothing illegal in the formation of the nonprofit
Weld County Finance Corporation. The Corporation's stated purpose is to purchase,
lease or otherwise acquire real estate for the use and benefit of the residents of Weld
County.
Council members and citizens agreed that there was need to look at how the
Corporation's lease -purchase agreements affect the indebtedness of Weld County.
The Council indicated that it would continue to evaluate what County properties are
indebted under the lease purchase agreements. Citizens asked who other than County
taxpayers were responsible for the payment of debt incurred by the Weld County
Finance Corporation. They urged further research into the Corporation to determine
whether funding the construction of Weld County buildings by the Weld County
Finance Corporation was sound financial practice for the County.
The Weld County Council urged the concerned citizens to get involved with
Weld County government by running for office or collecting signatures to place
concerns on the ballot.
A letter of disclosure of a relationship which may have the appearance of a
conflict of interest had been received from Weld County Commissioner William
Webster. The Council did not act upon the letter as the possible conflict of interest no
longer existed. Commissioner Webster's vote on an application of Soukup
Investments, LLC for a Site Specific Development Plan and Special Review Permit will
not be necessary. The application has been withdrawn.
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