HomeMy WebLinkAbout20252465.tiffResolution
Approve Declaration of the Intent of Weld County, Colorado, to Delegate Authority
to the Colorado Housing and Finance Authority (CHFA) to Issue Bonds Using 2022
Private Activity Bond Volume Cap in Connection with Financing Housing Facilities
for Low- and Middle -Income Families and Persons, and Authorize a Delegation
Agreement in Connection Therewith, and Authorize Chair to Sign Any Necessary
Documents
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, pursuant to the Private Activity Bond Ceiling Act, constituting Title 24,
Article 32, Part 17, Colorado Revised Statutes (the "Allocation Act"), Weld County,
Colorado (the "County") has available for use in 2025 private activity bond volume cap in
the amount of $8,574,904.00 from 2022, all of which it elected to carry forward pursuant
to Section 146(f) of the Internal Revenue Code of 1986, as amended (the "Tax Code"),
for "qualified residential rental projects" (the "Carryforward Allocation"), and
Whereas, all of the Carryforward Allocation remains unused and is available for use in
2025, and
Whereas, the Colorado Housing and Finance Authority ("CHFA") has requested that
Weld County delegate to CHFA its powers to issue revenue bonds using the Carryforward
Allocation to finance housing facilities for low- and middle -income families and persons,
and
Whereas, for purposes of Section 146 of the Tax Code, Weld County has agreed to
delegate to CHFA its powers to issue revenue bonds using up to $8,574,904.00 of the
Carryforward Allocation to finance housing facilities for low- and middle -income income
families and persons, and
Whereas, CHFA and Weld County are both authorized by law to assist in the financing
of housing facilities for low- and middle -income families and persons to the end that
decent, safe and sanitary dwelling accommodations for such families and persons may
be provided, and to issue bonds evidencing such; and Section 18 of Article XIV of the
Colorado Constitution and Part 2 of Article 1 of Title 29, Colorado Revised Statutes,
authorize the County to delegate to CHFA the authority to act as the County's agent to
issue bonds for such purpose, and
Whereas, it is necessary to authorize the execution by the County of a Delegation
Agreement between CHFA and Weld County (the "Delegation Agreement").
cc : FI(cP/ss/a /ics) c 14 (1.S/o - )
09/.5/25
2025-2465
FI0082
Declaration of the Intent of Weld County, Colorado, to Delegate Authority to the Colorado
Housing and Finance Authority (CHFA) to Issue Bonds Using 2022 Private Activity Bond
Volume Cap in Connection with Financing Housing Facilities for Low- and Middle -Income
Families and Persons, and Authorize a Delegation Agreement in Connection Therewith
Page 2
Now, therefore, be it resolved by the Board of County Commissioners of Weld County,
Colorado, that:
Section 1. The County hereby authorizes the delegation of authority to CHFA
to use up to $8,574,904 of the Carryforward Allocation, for use as described above.
Section 2. The form, terms and provisions of the Delegation Agreement hereby
are approved and the Chairperson and other appropriate officers of the County hereby
are authorized and directed to execute (via manual or electronic signature) and deliver
the Delegation Agreement, with such changes therein as are approved by the
Chairperson or other appropriate officers of the County executing the Delegation
Agreement. The execution of the Delegation Agreement shall be conclusive evidence of
the approval by the County of such document in accordance with the terms hereof.
Section 3. The officers of the County shall take such other steps or actions
necessary or reasonably required to carry out the terms and intent of this Resolution and
the Delegation Agreement, including any amendments to the Delegation Agreement not
inconsistent with this Resolution.
Section 4. If any section, paragraph, clause or provision of this Resolution shall
for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of
such section, paragraph, clause or provision shall not affect any of the remaining
provisions of this Resolution.
Section 5. All action not inconsistent with the provisions of this Resolution
heretofore taken by the Board and the officers of the County directed toward the
Carryforward Allocation and the authorization of the Delegation Agreement hereby are
ratified, approved and confirmed.
Section 6. This Resolution shall be in full force and effect upon its passage and
adoption.
Be it further resolved, by the Board of County Commissioners of Weld County,
Colorado, that the aforementioned Resolution between the County of Weld, State of
Colorado, by and through the Board of County Commissioners of Weld County, on behalf
of the Department of Finance, and Colorado Housing and Finance Authority (CHFA), be,
and hereby is, approved.
Be it further resolved by the Board that the Chair be, and hereby is, authorized to sign
all necessary documents.
2025-2465
FI0082
Declaration of the Intent of Weld County, Colorado, to Delegate Authority to the Colorado
Housing and Finance Authority (CHFA) to Issue Bonds Using 2022 Private Activity Bond
Volume Cap in Connection with Financing Housing Facilities for Low- and Middle -Income
Families and Persons, and Authorize a Delegation Agreement in Connection Therewith
Page 3
The Board of County Commissioners of Weld County, Colorado, approved the above
and foregoing Resolution, on motion duly made and seconded, by the following vote on
the 3rd day of September, A.D., 2025:
Perry L. Buck, Chair: Aye
Scott K. James, Pro-Tem: Aye
Jason S. Maxey: Aye
Lynette Peppier: Aye
Kevin D. Ross: Aye
Approved as to Form:
Bruce Barker, County Attorney
Attest:
Esther E. Gesick, Clerk to the Board
2025-2465
FI0082
Department of Finance
1150 O Street
Greeley, CO 80631
COUNTY, CO
August 29, 2025
To: Board County Commissioners
Re: Weld County to CHFA - 2022 PAB Delegation
The Big Beautiful Bill changed the PAB threshold for low -and -middle income
housing deals. We previously allocated all of our 2022 PAB cap to the Firestone
Flats project (same developer that we gave all of the 2023 cap, 1/2 of the 2024
cap, and a portion of the 2025 cap). Due to the change below (50% to 25%),
the developer no longer needs our 2022 cap and the developer and Colorado
Housing and Finance Authority (CHFA) would like to transfer this CAP to CHFA.
Reduced PAB Threshold for LIHTC Deals: For 4% Low -Income Housing Tax
Credit (LIHTC) buildings financed with PABs, the OBBBA permanently
reduced the required bond financing threshold from 50% to 25% on an
aggregate basis. This change applies to buildings placed in service after
December 31, 2025, provided that at least 5% of the aggregate basis is
financed with bonds issued after December 31, 2025. This reduction is
expected to facilitate more affordable housing projects.
Sincerely,
Cheryl Pattelli, Chief Financial Officer
Director of the Department of Finance
2025-2465
9/3 ftOO 2.
STATE OF COLORADO )
) SS
COUNTY OF WELD
The Board of County Commissioners for Weld County, Colorado met at a public meeting
held pursuant to the laws of the State of Colorado, on September 3, 2025, commencing at the
hour of 9:00 a.m.
There were present at the meeting, the following:
Present:
Chair: Perry L. Buck
Other Commissioners: Scott K. James, Pro-Tem
Jason S. Maxey
Kevin D. Ross
Lynette Peppler
There was also present:
Bruce Barker, County Attorney
Cheryl Pattelli, Chief Financial Officer
Houstan Aragon, Deputy Clerk the Board
Chair Buck introduced the following resolution:
164133184.2
STATE OF COLORADO )
) SS
COUNTY OF WELD
I, the undersigned Perry L. Buck, the duly appointed Chair of the Board of County
Commissioners of Weld County, Colorado (the "County"), do hereby certify that the foregoing
pages 1 through 3, inclusive, are a true, correct and complete copy of the record of proceedings
of the Commissioners of the County, insofar as such proceedings relate to the resolution
contained therein, had and taken at a lawful, public meeting of the Commissioners held on
September 3, 2025, commencing at the hour of 9:00 a.m., as recorded in the regular official
record of the proceedings of the County; that said proceedings were duly had and taken as
therein shown; that the meeting therein shown was duly held and was open to the public at all
times; and that the persons therein were present at said meeting as therein shown.
IN WITNESS WHEREOF, I have hereunto set my hand and the seal of Weld County,
Colorado this 3rd day of September, 2025.
Perry L. IjFtick, Chair,
Board of Weld County Commissioners
The foregoing Resolution was acknowledged before me this 3rd of September, 2025, by
Houstan Marie Aragon.
Witness my hand and official eal:
MalLe- U1714
Notary Public
My Commission Expires:
MOUSTAN MARIE ARAGON
NOTARY PUBLIC
STATE OF COLORADO
NOTARY ID 20244035426
MY COMMISSION EXPIRES SEPTEMBER 20, 2028
Q (2OZ'%
[SEAL]
164133184.2
2025-241o5 - I
DELEGATION AGREEMENT
This Delegation Agreement is made and entered as of September 3, 2025 between
WELD COUNTY, COLORADO ("Weld County"), a public body corporate and politic of the State
of Colorado (the "State"), and the COLORADO HOUSING AND FINANCE AUTHORITY
("CHFA"), a body corporate and a political subdivision of the State.
1. Preliminary Statement. Among the matters of mutual inducement which have
resulted in the execution of this Delegation Agreement are the following:
(a) Weld County and CHFA are authorized by law to assist in the financing of
housing facilities for low- and middle -income families and persons, and to issue bonds for such
purpose.
(b) Section 18 of Article XIV of the Colorado Constitution and Part 22 of Article 1
of Title 29, Colorado Revised Statutes, authorize Weld County to delegate to CHFA the authority to
act as Weld County's agent to issue bonds for such purpose.
(c) For purposes of Section 146 of the Internal Revenue Cod& of 1986, as
amended (the "Tax Code"), Weld County has remaining available for use in 2025 private activity
bond volume cap remaining from 2022 in the amount of at least $8,574,904, all of which Weld
County elected to carry forward pursuant to Section 146(f) of the Internal Revenue Code of 1986, as
amended, for "qualified residential rental projects" (the "Carryforward Allocation"), all of which
remains unused.
(d) Weld County desires to delegate to CHFA its powers to issue one or more
series of revenue bonds, notes or other obligations (the "Bonds") using up to $8,574,904 of such
Carryforward Allocation (the "Delegated Cap") to be used to finance qualified residential rental
projects.
(e) CHFA desires to accept such delegation.
(f) Neither the execution and delivery of this Delegation Agreement, the
consummation of the transactions contemplated hereby, nor the fulfillment of or compliance with the
terms and conditions of this Delegation Agreement conflicts with or results in a breach of any of the
terms, conditions or provisions of any legal restriction or any agreement or instrument to which
Weld County or CHFA is now a party or by which Weld County or CHFA is bound, or 4onstitutes a
default under any of the foregoing.
161133170.2
-1-
LII,UblylI CI IVCIUpe IU. MOOr Jr OJ-O/r/-YCU/-OWOlYO/1/OVVJYVYOJ
(Signature page to Delegation Agreement)
IN WITNESS WHEREOF, the parties hereto have entered into this Delegation
Agreement as of the day and year first above written.
WELD COUNTY, COLORADO
By `eaks,
Natnliftiry L. Buck SP 0 3 2025
Title: Chair,
Board of Weld County Commissioners
Attest: "JCL
;
By:
Esthert"ti s`Tck, Clerk % ttie $o
Deputy Clerk to the Boa
COLORADO HOUSING AND FINANCE
AUTHORITY
By:
164133170.2
r -Signed by:
Name: Steve Johnson
Title: Chief Operating Officer
2025 2LI(05 -z
CERTIFICATE OF WELD COUNTY, COLORADO
CONCERNING PRIVATE ACTIVITY BOND VOLUME CAP ALLOCATION
I, the undersigned, hereby certify as of this September 3, 2025 on behalf of Weld
County, Colorado ("Weld County"), that:
1. Weld County is a public body corporate and politic of the State of
Colorado.
2. Pursuant to Section 24-32-1706 of the Colorado Private Activity Bond
Ceiling Allocation Act, Part 17 of Article 32 of Title 24, Colorado Revised Statutes (the.
"Allocation Act"), Weld County has available for use in 2025 private activity bond volume cap
remaining from 2022 in the amount of at least $8,574,904, all of which Weld County elected to
carry forward pursuant to Section 146(f) of the Internal Revenue Code of 1986, as amended, for
"qualified residential rental projects" (the "Carryforward Allocation"), all of which remains
unused. Attached as Exhibit A is a true and correct copy of IRS Form 8328 (Carryforward
Election of Unused Private Activity Bond Volume Cap) with respect to the Carryforward
Allocation.
3. Attached hereto as Exhibit B is a true and correct copy of
Resolution No. 2025- (the "Resolution") authorizing Weld County to enter into delegation
arrangements with the Colorado Housing and Finance Authority ("CHFA") for the purpose of
preserving and utilizing Weld County's private activity bond volume cap, such as the Delegation
Agreement dated as of September 3, 2025 (the "Delegation Agreement") between Weld County
and CHFA, delegating to CHFA Weld County's powers to issue revenue bonds using up to
$8,574,904.00 of the Carryforward Allocation to finance qualified residential rental projects.
The Resolution was duly adopted by the Board of County Commissioners of Weld County (the
"Board") at meetings thereof held on September 3, 2025, at which meeting a quorum was present
and acting throughout and which Resolution has not been revoked, rescinded, repealed, amended
or modified and are in full force and effect on the date hereof.
4. With respect to the Carryforward Allocation, Weld County has not
heretofore: (a) issued private activity bonds; (b) assigned the Carryforward Allocation to another
"issuing authority," as defined in the Allocation Act; or (c) delegated to any other party its
powers to issue revenue bonds using the Carryforward Allocation.
5. On or before the date hereof, counterparts of the Delegation Agreement
were officially executed by an authorized officer of Weld County. On the date of such signing,
such person was the duly sworn, qualified and acting officer or employee of Weld County
authorized to execute the Delegation Agreement and holding such office.
6. Weld County has authorized the execution, delivery and due performance
of the Delegation Agreement, and the execution and delivery of the Delegation Agreement and
the compliance by Weld County with the provisions thereof, will not, to the best of my
knowledge, conflict with or constitute on the part of Weld County a breach of or a default under
any existing Colorado law, Authority resolution, court or administrative regulation, decree or
164133138.2
order or any agreement or other instrument to which Weld County is subject or by which it is
bound.
7. To the best of my knowledge, without investigation, there does not exist
any action, suit, proceeding or investigation pending, or threatened against Weld County,
contesting (a) the corporate existence of Weld County, (b) the title of its present officers or any
of them to their respective offices, including, without limitation, the members of the Board,
(c) the validity of the Delegation Agreement, (d) the Carryforward Allocation, or (e) the power
of Weld County to execute, deliver or perform the Delegation Agreement.
(Signature page to follow)
164133138.2
WITNESS my hand as of the date first written above.
WELD COUNTY, COLORADO
By:�
Name: Perry . Buck 0 3 2025
Title: Chair, Board of County Commissioners
Attest:
Esther E. Gesick, Clerk to the Board
By:
Deputy Clerk to the Board
164133138.2
2 075-24tc5 -3
EXHIBIT A
IRS FORM 8328 (2022)
KUTAK ROCK
February 10, 2023
VIA ELECTRONIC MAIL
EMAIL RECEIPT REQUESTED
Mr. Andrew Paredes
Mr. Wayne McClary
Colorado Department of Local Affairs
Division of Housing
1313 Sherman Street, Room 320
Denver, CO 80203
Kutak Rock LIP
1801 California Street, Suite 3000, Denver, CO 80202-2652
office 303.297.2400
John A. Henry
303.297.2400
John.Henry@kutakrock.com
Re: IRS Form 8328 for Weld County, Colorado (EIN: 84-6000813)
Dear Andrew and Wayne:
Enclosed for filing is a copy of IRS Form 8328, Carryforward Election of Unused Private
Activity Bond Volume Cap letter package that was mailed to the IRS.
In lieu of mailing an acknowledgement copy back to me, please acknowledge receipt via
email to John.Henry@KutakRock.com.
Thank you for your prompt attention to this matter.
enclosure
4871-0478-3952.2
KUTAKROCK
Ratak Rock LLP
1801 California Street, Suite 3000, Denver, Co 80202-2652
office 303.297.2400
John A. Henry
303.297.2400
John.Henry@kutakrock.com
February 10, 2023
VIA CERTIFIED MAIL #7021 0950 0000 2666 5250
RETURN RECEIPT REQUESTED
Department of the Treasury
Internal Revenue Service Center
Ogden, UT 84201
Re: IRS Form 8328 for Weld County, Colorado (EIN: 84-6000813)
Ladies and Gentlemen:
Enclosed for filing are the original and one acknowledgement copy of IRS Form 8328,
Carryforward Election of Unused Private Activity Bond Volume Cap.
Please return the acknowledgement copy stamped "Filed" in the enclosed self-addressed,
stamped envelope.
Thank you for your prompt assistance in this matter.
Sincerely yours,
John A. Henry
enclosures
4871-0478-3952.2
For, 8328 Carryforward Election of Unused
(Rev. August 2022) Private Activity Bond Volume Cap
Department of the Treasury (Under Sections 146(f) and 142(k))
Internal Revenue Service Go to www.lrs.gov/Form8328 for the latest information.
OMB No. 1545-0047
Enter the calendar year for which the election is made: 2022
MI Reporting Authority
State name for qualifying public educational facility bond or issuer's name for all other bonds
Weld County, Colorado
Number, street (or P.O. box if mail is not delivered to street address)
Reporting Authority's EIN
8 4 i 6 0 0 0 8 1
PO Box 758, 1150 O Street
City or town, state, and ZIP code
Greeley, Colorado 80632
Room/suite
Report number (For RS Use Only)
9nnn
Caution: Part II is only for section 1460 filers. Part Ill is only for qualifying public educational facility bond filers.
• Unused Volume Cap and Carryforward Under Section 146(f)
Computation of Unused Volume Cap
1 Total volume cap of the issuer for the calendar year $8,574,004
2 Aggregate amount of private activity bonds issued to date that are taken
into account under section 146. See instructions 2 $0
3 Total amount of volume cap exchanged for authority to issue mortgage
credit certificates. See instructions
4 Total amount of volume cap allocated to private activity portion of
governmental bonds. See instructions
5 Add lines 2 through 4 5 $0
6 Unused volume cap (subtract line 5 from line 1) 6 $8,574,904
Purpose and Amount of Each Carryforward
7 Qualified student loan bonds
8 Qualified mortgage bonds or mortgage credit certificates
9 Qualified redevelopment bonds
10 Exempt facility bonds:
a Mass commuting facilities (section 142(a((3))
b Water furnishing facilities (section 142(a((4))
c Sewage facilities (section 142(a((5))
d Solid waste disposal facilities (section 142(a((6))
e Qualified residential rental projects (section 142(a((7)) 10e 68,574,904
f Facilities for the local furnishing of electric energy or gas (section 142(a)(8))
g Local district heating or cooling facilities (section 142(a((9))
h Qualified hazardous waste facilities (section 142(a((10))
i High-speed intercity rail facilities (section 142(a((11))
j Qualified enterprise zone facility bonds (section 1394(a) -(e))
k Qualified broadband projects (section 142(a)(16))
I Qualified carbon dioxide capture facilities (section 142(a((17))
11 Total carryforward amount (add lines 7 through loll (not to exceed line 6) 11 08,574,904
map Unused Volume Cap and Carryforward Under Section 142(k) (Qualifying Public Educational Facility Bonds)
12 Total volume cap for the calendar year
13 Total amount of bonds issued under section 142(k) for the calendar year
14 Unused volume cap available for carryforward (subtract line 13 from line 12)
15 Amount elected to carryforward (not to exceed line 14)
Under penalties of perjury, I declare that I h. ve examined this return, including accompanying schedules and statements, and to the best of my knowledge and
Sign belie I is true, correc
Here 1 . J �I �� ,OR Cheryl Pattelli, Chief Financial Officer
3
4
Sig
Mc official
Date
$0
$0
7
8
9
10a
10b
100
10d
10f
10g
10h
10i
10j
10k
101
12
13
14
15
Type or print name and title.
Direct Allocation: $8,574, • e4
For Paperwork Reduction Act Notice, see instructions on back.
Cat. No. 139001 Form 8328 (Rev. 8-2022)
COLORADO
Department of Local Affairs
Division of Housing
Private Activity Bond Direct Allocations - 2O22
Statewide Population in 2021: 5,812,069
Private Activity Bond Cap available in 2022: $639,327,590
Per Capita Multiplier: $110
Table 1: Allocations to Designated Local Issuing Authorities
Local Issuer Population Population as PAB Cap
% of State
Population
Denver 717,632 12.41% $39,668,757
Colorado Springs 479,257 8.29% $26,492,032
Aurora 386,913 6.69% $21,387,505
Douglas County 221,207 3.88% $12,393,560
El Paso County 222,539 3.85% $12,301,358
Jefferson County 205,167 3.55% $11,341,079
Fort Collins 169,968 2.94% $9,395,372
Lakewood 156,195 2.70% $8,634,038
Weld County 155,125 2.68% $8,574,904
Thornton 142,118 2.46% $7,855,899
Arapahoe County 134,261 2.32% $7,421,591
Arvada 124,367 2.15% $6,874,672
Westminster 116,072 2.01% $6,416,147
Adams County 115,530 2.00% $6,386,188
Pueblo 111,893 1.93% $6,185,143
Greeley 109,084 1.89% $6,029,869
Boulder 108,154 1.87% $5,978,461
Centennial 108,152 1.87% $5,978,351
Larimer County 105,553 1.83% $5,834,687
Longmont 99,129 1.71% $5,479,584
Mesa County 90,120 1.56% $4,981,591
Loveland 76,341 1.32% $4,219,925
Broomfield 74,470 1.29% $4,116,501
Castle Rock 73,746 1.28% $4,076,480
Grand Junction 65,790 1.14% $3,636,694
Commerce City 62,699 1.08% $3,465,832
Garfield County 61,722.1 1.07% $3,411,829
Boulder County 60,534 1.05% $3,346,158
Parker 58,804 1.02% $3,250,527
Pueblo County 56,541 0.98% $3,125,435
Eagle County 55,624 0.96% $3,074,747
Fremont County 48,885 0.85% $2,702,234
Littleton 45,533 0.79% $2,516,942
Brighton 40,303 0.70% $2,227,841
Northglenn 38,007 0.66% $2,100,925
COLORADO
Department of Local Affairs
Division of Housing
Table 1: Allocations to Designated Local Issuing Authorities (continued)
Local Issuer Population Population as PAB Cap
% of State
Population
La Plata County
Englewood
Windsor
36,573
33,657
33,311
32,365
31,160
31,013
30,405
30,377
29,845
29,106
26,188
25,853
24,840
24,779
22,446
22,204
21,408
21,171
20,364
20,226
0.63%
0.58%
0.58%
Wheat Ridge
Delta County
Summit County
Erie
0.56%
0.54%
0.54%
0.53%
Lafayette
Fountain
Morgan County
Elbert County
Montezuma County
Routt County
Teller County
Montrose County
Evans
0.53%
0.52%
0.50%
0.45%
0.45%
0.43%
0.43%
0.39%
Logan County
Louisville
0.38%
0.37%
0.37%
Montrose
0.35%
Golden
Chaffee County
Durango
Otero County
Total
-19,515
0.35%
0.34%
19,078s
18,679
5,505,000
0.33%
0.32%
95.19%
$2,021,659
$1,860,468
$1,841,343
$1,789,050
$1,722,444
$1,714,318
$1,680,707
$1,679,159
$1,649,751
$1,608,905
$1,447,604
$1,429,086
$1,373,091
$1,369,719
$1,240,756
$1,227,378
$1,183,380
$1,170,276
$1,125,667
$1,118,039
$1,078,738
$1,054,581
$1,032,528
$304,301,505
These calculations for municipalities and counties utilize population estimates from 2020, as these are the most
recent year for which these estimates are available. The population of the state in that year was 5,782,913.
Total cap available to the Statewide Balance: $15,362,290
Total cap available to designated local issuing authorities and the statewide balance: $319,663,795
Table 2: Allocations to State Issuing Authorities
State Issuing Authority
Colorado Housing and Finance Authority
Colorado Agricultural Development Authority
Total
PAB Cap
$312,663,795
$7,000,000
$319,663,795
Total cap allocated to all issuing authorities (not including the Statewide Balance): $623,965,300
2
FEDERAL TAX EXEMPTION CERTIFICATE
WELD COUNTY, COLORADO
The undersigned representative of Weld County, Colorado ("Weld County") hereby certifies
as of September 3, 2025, on behalf of Weld County as to the following facts, estimates and
circumstances:
Section 1. The Colorado Housing and Finance Authority ("CHFA") 'is delivering,
simultaneously with the delivery of this certificate, certain of its Multifamily Housing Revenue
Bonds, Series 2025 in support of the Project, in the original aggregate principal
amount of $
Section 2. The undersigned is one of the officials of Weld County delegated
responsibility for the issuance of bonds on behalf of Weld County.
Section 3. In the Delegation Agreement between Weld County and CHFA dated as of
September 3, 2025 (the "Delegation Agreement"), Weld County delegated to CHFA its powers
under applicable law to issue bonds to finance properties for low- and middle -income families and
persons to the end that decent, safe and sanitary dwelling accommodations for such families and
persons may be provided. The Delegation Agreement recognized, however, that Weld County
would be the "issuer" for federal income tax law purposes of such portion of the Bonds being issued
for such purpose (the "Weld County portion of the Bonds"), and Weld County agreed in the
Delegation Agreement to take certain further action in connection therewith, including executing this
Federal Tax Exemption Certificate.
Section 4. The purpose of this certificate is to certify reasonable expectations as of this
date regarding the amount and use of the gross proceeds of Weld County portion of the Bonds in the
principal amount of up to $8,574,904.00 (the "Expectations") of Weld County pursuant to the
Internal Revenue Code of 1986, as amended, and to the regulations promulgated thereunder (the
"Regulations"), as specifically required by Regulation § 1.148-2(b)(2).
Section 5. Based solely upon and in reliance on the representations of CHFA as to
CHFA's Expectations which are contained in the Federal Tax Exemption Certificate of CHFA (the
"CHFA Certificate") dated as of this date, Weld County hereby certifies that with respect to the
Weld County portion of the Bonds, Weld County's Expectations are the same as CHFA's
Expectations.
Section 6. Weld County knows of no reason to question the Expectations contained in
CHFA's Certificate.
164133123.2
(Signature page to Federal Tax Exemption Certificate)
Dated as of the first date written above.
WELD COUNTY, COLORADO
B
Name: Perry/. Buck SEP 0 3 2025
Title: Chair, Board of County Commissioners
Attest: -.4:thAll a.' "'
Esther E. Gesick, Clerk to the Board
By:
Deputy Clerk to the Bo
164133123.2
Z025-24bS-�I
Houstan Aragon
From:
Sent:
To:
Cc:
Subject:
Approved. Thank you!
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Cheryl Pattelli
Friday, August 29, 2025 10:04 AM
Houstan Aragon; Bruce Barker; Karin McDougal; Matthew Conroy; Byron Howell; Adria
Schiel; Will Grumet
Rusty Williams; CTB
Re: SIGNATURE REVIEW: Declaration of the Intent of Weld County, Colorado, to
Delegate Authority to the Colorado Housing and Finance Authority (CHFA)
From: Houstan Aragon <haragon@weld.gov>
Sent: Friday, August 29, 2025 10:00:54 AM
To: Bruce Barker <bbarker@weld.gov>; Karin McDougal <kmcdougal@weld.gov>; Matthew Conroy
<mconroy@weld.gov>; Byron Howell <bhowell@weld.gov>; Adria Schiel <aschiel@weld.gov>; Will Grumet
<wgrumet@weld.gov>; Cheryl Pattelli <cpattelli@weld.gov>
Cc: Rusty Williams <rwilliams@weld.gov>; CTB <CTB@co.weld.co.us>
Subject: SIGNATURE REVIEW: Declaration of the Intent of Weld County, Colorado, to Delegate Authority to the Colorado
Housing and Finance Authority (CHFA)
Good morning,
Please review and advise as to placement on the Wednesday, September 3, 2025, Agenda. Please
also remember to reply -all to this email.
Thank you,
COUNTY, CO
Houstan Aragon
Deputy Clerk to the Board
Desk: 970-400-4224
P.O. Box 758, 1150 O St., Greeley, CO 80632
0,11000
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