HomeMy WebLinkAbout740393.tiff R " O L U T I O h
WHEREAS, representatives of Edo-Gas of Colorado,
Inc. , met with the b-• d of County Commissioners and advised
the Commissioners o' ;t Company's interest in locating a
facility for manufm_ ing of gas from waste prod..cts of cat-
tle within the County, subject to the willingness of tae
County to acquire the necessary land, building, ana equip-
ment as an industrial development bond project prs.:ant to
the County and Municipality Development ?evenue Bond Act of
Colorado; and
WHEREAS, b - - as of Colorado, Inc. , has reporter
to the County that it . ,s discussed the matter at =e ngt:. witn
Gerwin 6 Company, who are the proposed purchasers of the
issue, and the investment bankers for the Company, ard Dawson,
Nagel, Sherman 6 Howard, Attorneys at Law, who are to serve
as bond counsel; and
WHEREAS, the County has considered the Company's
proposal and has concluded that tne eeo::cr._c oenefit to tne
County will be substantial and t:at it wisnes to proceed
with the project; and
WHEREAS, the County ha._ review°, tne latest drafts
of the (i) Lease and Agreement, cited as _. July 1974.
between the County and the Cost..: ny, (If) Indenture of
;ortgage and Deed of :rust, dated as of J_.Iy 1, 19-C, oe-
tween the County and the First ,....icna1 .,,.r... of Lenver , as
Trustee, and Gill Guaranty Agreement, date, as of .; ly I.
1974 , between the Company and the Trustee, which drafts set
forth the proposed terms of the financing of the facility.
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PLO795
740393
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
COUNTY COMMISSIONERS OF THE COUNTY OF WELD, STATE OF COLORADO:
That the County shall proceed in all steps neces-
sary or advisable to effect the issuance of industrial reve-
nue bonds in the estimated principal amount of $4,950,Ot00
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(but not to exceed $5,000,000) to acquire the necessary land,
building, and equipment to be concurrently :eased to cio-;aa
of Colorado, Inc. , it being understood that no costs are to
borne by the County and that prior to exr•r r. of certain
docwnents in connection with the project and bonds, s..ch
documents will be subject to authorization by resolution of
the Board of County Commissioners pursuant to the County
and Municipality Development Revenue Bond Act.
PASSED AND APPROVED this ?1st day of July, 1974.
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Chair-an
Board of County Commissioners
(SEAL)
Attest:
County C1c/k.
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