HomeMy WebLinkAbout20200612.tiffRESOLUTION
RE: APPROVE GOVERNMENT OBLIGATION CONTRACT FOR LAW ENFORCEMENT
BODY WORN CAMERA SYSTEM AND AUTHORIZE CHAIR TO SIGN -
KS STATEBANK
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 Board has been presented with a Government Obligation Contract for a
Law Enforcement Body Worn Camera System between the County of Weld, State of Colorado,
by and through the Board of County Commissioners of Weld County, on behalf of the Sheriff's
Office, and KS StateBank, commencing upon full execution of signatures, with further terms and
conditions being as stated in said contract, and
WHEREAS, after review, the Board deems it advisable to approve said contract, a copy
of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Government Obligation Contract for a Law Enforcement Body
Worn Camera System between the County of Weld, State of Colorado, by and through the Board
of County Commissioners of Weld County, on behalf of the Sheriff's Office, and KS StateBank,
be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said agreement.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 19th day of February, A.D., 2020.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: dirdie/ti ade4;e1
Weld Co - , ty Clerk to the : • and
ounty Attorney
Date of signature: 00 9 2O
Mike Freeman, Chair
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2020-0612
SO0041
eAntract 3`i n
WELD COUNTY, COLORADO
DOCUMENTATION INSTRUCTIONS
The instructions listed below should be followed when completing the enclosed documentation. Please sign in blue ink and print on single sided
paper only. Documentation completed improperly will delay funding. If you have any questions regarding the Conditions to Funding, instructions or
the documentation, please call us at (877) 587-4054.
I. Attached Documentation
1. Government Obligation Contract
• An authorized individual that is with the Obligor should sign on the first space provided. All original signatures are required for
funding.
2. Exhibit A — Description of Equipment
• Review equipment description. Complete serial number/VIN if applicable.
• List the location where the equipment will be located after delivery/installation.
3. Exhibit B — Payment Schedule
• Sign and print name and title
4. ` Exhibit C - Acceptance of Obligation
• Sign and print name and title
5. Exhibit D - Obligor Resolution
• Type in the date of the meeting in which the purchase was approved.
• Print or type the name and title of the individual(s) who is authorized to execute the Contract.
• The secretary, chairman or other authorized board member of the Obligor must sign the Resolution where indicated.
• A second authorized individual that is with the Obligor should attest the Resolution where indicated.
6. Exhibit E - Officer's Certificate
• Sign and print name and title
• Please list the Source of Funds for the Contract Payments.
7. . Exhibit F - Payment Request & Equipment Acceptance Form
• Do Not Return until you need to request funds from the Vendor Payable Account.
8. Exhibit G - Signature Card
• Sign and print name and title
• An additional individual may sign as an authorized individual, if desired.
9. Exhibit H - Obligor Acknowledgement
• Complete information as indicated.
10. Exhibit I - Bank Qualified Certificate
• Sign and print name and title
11. Insurance Requirements
• Complete insurance company contact information where indicated.
12. Debit Authorization — (Preferred)
• Complete form and attach a voided check
13. 8038G IRS Form
• Please read 8038 Review Form
• In Box 2, type Employer Identification Number
• Sign and print name and title
II. Additional Documentation Required
1. First payment check as stated on attached invoice
2020-0612
O/1
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III. Condition to Funding
If, for any reason: (i) the required documentation is not returned by May 28, 2020, is incomplete, or has unresolved issues relating thereto, or (ii) on,
or prior to the return of the documentation, there is a change of circumstance, including but not limited to changes in the federal corporate income
tax rate or reducing/capping the tax-exempt interest benefit, which adversely affects the expectations, rights or security of the Obligee or Its
assignees; then Obligee or its assignees reserve the right to withdraw/void its offer to fund this transaction in its entirety. Neither KS StateBank nor
Baystone Government Finance is acting as an advisor to the municipal entity/obligated person and neither owes a fiduciary duty pursuant to Section
156 of the Exchange Act of 1934.
All documentation should be returned to:
KS StateBank
2627 KFB Plaza, Suite 202E
Manhattan, Kansas 66503
CO SFP Non -App BQVPA
GOVERNMENT OBLIGATION CONTRACT
Obligor
Weld County, Colorado
1150 O Street
Greeley, Colorado 80631
Obligee
KS StateBank
1010 Westloop; P.O. Box 69
Manhattan, Kansas 66505-0069
Dated as of January 29, 2020
This Government Obligation Contract dated as of the date listed above is between Obligee and Obligor listed directly above. Obligee desires to finance the purchase of the Equipment described
in Exhibit A to Obligor and Obligor desires to have Obligee finance the purchase of the Equipment subject to the terms and conditions of this Contract which are set forth below.
I. Definitions
Section 1.01 Definitions. The following terms will have the meanings indicated below unless the context clearly requires otherwise:
"Additional Schedule" refers to the proper execution of additional schedules to Exhibit A and Exhibit B, as well as other exhibits or documents that may be required by the Obligee all of which
relate to the financing of additional Equipment.
"Budget Year" means the Obligor's fiscal year.
"Commencement Date" is the date when Obligor's obligation to pay Contract Payments begins.
"Contract" means this Government Obligation Contract and all Exhibits attached hereto, all addenda, modifications, schedules, refinancings, guarantees and all documents relied upon by
Obligee prior to execution of this Contract.
"Contract Payments" means the payments Obligor is required to make under this Contract as set forth on Exhibit B.
"Contract Term" means the Original Term and all Renewal Terms.
"Exhibit" includes the Exhibits attached hereto, and any "Additional Schedule", whether now existing or subsequently created.
"Equipment" means all of the items of Equipment listed on Exhibit A and any Additional Schedule, whether now existing or subsequently created, and all replacements, restorations,
modifications and improvements.
"Government" as used in the title hereof means a State or a political subdivision of the State within the meaning of Section 103(a) of the Internal Revenue Code of 1986, as amended ("Code"),
or a constituted authority or district authorized to issue obligations on behalf of the State or political subdivision of the State within the meaning of Treasury Regulation 1,103-1(b), or a qualified
volunteer fire company within the meaning of section 150(e)(1) of the Code.
"Obligee" means the entity originally listed above as Obligee or any of its assignees.
"Obligor" means the entity listed above as Obligor and which is financing the Equipment through Obligee under the provisions of this Contract.
"Original Term" means the period from the Commencement Date until the end of the Budget Year of Obligor.
"Partial Prepayment Date" means the first Contract Payment date that occurs on or after the earlier of (a) the twenty-four month (24) anniversary of the Commencement Date or (b) the date
on which Obligor has accepted all the Equipment and all amounts have been disbursed from the Vendor Payable Account to pay for the Equipment.
"Purchase Price" means the total cost of the Equipment, including all delivery charges, installation charges, legal fees, financing costs, recording and filing fees and other costs necessary to
vest full, clear legal title to the Equipment in Obligor, subject to the security interest granted to and retained by Obligee as set forth in this Contract, and otherwise incurred in connection with
the financing of this Equipment.
"Renewal Term" means the annual term which begins at the end of the Original Term and which is simultaneous with Obligor's Budget Year and each succeeding Budget Year for the number
of Budget Years necessary to comprise the Contract Term.
"State" means the state which Obligor is located.
"Surplus Amount" means any amount on deposit in the Vendor Payable Account on the Partial Prepayment Date.
"Vendor Payable Account" means the separate account of that name established pursuant to Section X of this Contract.
II. Obligor Warranties
Section 2.01 Obligor represents, warrants and covenants as follows for the benefit of Obligee or its assignees:
(a) Obligor is an "issuer of tax exempt obligations" because Obligor is the State or a political subdivision of the State within the meaning of Section 103(a) of the Internal Revenue Code of
1986, as amended, (the "Code") or because Obligor is a constituted authority or district authorized to issue obligations on behalf of the State or political subdivision of the State within
the meaning of Treasury Regulation 1.103-1(b), or a qualified volunteer fire company within the meaning of section 150(e)(1) of the Code.
(b) Obligor has complied with any requirement for a referendum and/or competitive bidding.
(c) Obligor has complied with all statutory laws and regulations that may be applicable to the execution of this Contract; Obligor, and its officer executing this Contract, are authorized under
the Constitution and laws of the State to enter into this Contract and have used and followed all proper procedures of its governing body in executing and delivering this Contract. The
officer of Obligor executing this Contract has the authority to execute and deliver this Contract. This Contract constitutes a legal, valid, binding and enforceable obligation of the Obligor
In accordance with its terms.
(d) Obligor shall use the Equipment only for essential, traditional government purposes.
(e) Should the IRS disallow the tax-exempt status of the interest portion of the Contract Payments as a result of the failure of the Obligor to use the Equipment for governmental purposes,
or should the Obligor cease to bean issuer of tax exempt obligations, or should the obligation of Obligor created under this Contract cease to be a tax exempt obligation for any reason,
then Obligor shall be required to pay additional sums to the Obligee or its assignees so as to bring the after tax yield on this Contract to the same level as the Obligee or its assignees
would attain if the transaction continued to be tax-exempt.
Obligor has never non -renewed funds under a contract similar to this Contract.
Obligor will submit to the Secretary of the Treasury an information reporting statement as required by the Code.
Upon request by Obligee, Obligor will provide Obligee with current financial statements, reports, budgets or other relevant fiscal information.
Obligor shall retain the Equipment free of any hazardous substances as defined in the Comprehensive Environmental Response, Compensation and Liability Act, 42 U.S.C. 9601 et. seq.
as amended and supplemented.
Obligor hereby warrants the General Fund of the Obligor is the primary source of funds or a backup source of funds from which the Contract Payments will be made.
Obligor presently intends to continue this Contract for the Original Term and all Renewal Terms as set forth on Exhibit B hereto. The official of Obligor responsible for budget preparation
will include in the budget request for each Budget Year the Contract Payments to become due in such Budget Year, and will use all reasonable and lawful means available to secure the
appropriation of money for such Budget Year sufficient to pay the Contract Payments coming due therein. Obligor reasonably believes that moneys can and will lawfully be appropriated
and made available for this purpose.
(I) Obligor has selected both the Equipment and the vendor(s) from whom the Equipment is to be purchased upon its own judgment and without reliance on any manufacturer, merchant,
vendor or distributor, or agent thereof, of such equipment to the public.
Obligor owns the Equipment and any additional collateral free and clear of any liens, and Obligor has not and will not, during the Contract Term, create, permit, incur or assume any
levies, liens or encumbrances of any kind with respect to the Equipment or any additional collateral except those created by this Contract.
Section 2.02 Escrow Agreement. In the event both Obligee and Obligor mutually agree to utilize an Escrow Account, then immediately following the execution and delivery of this Contract,
Obligee and Obligor agree to execute and deliver and to cause Escrow Agent to execute and deliver the Escrow Agreement. This Contract shall take effect only upon execution and delivery of
the Escrow Agreement by the parties thereto. Obligee shall deposit or cause to be deposited with the Escrow Agent for credit to the Equipment Acquisition Fund the sum of N/A, which shall
be held, invested and disbursed in accordance with the Escrow Agreement.
111. Acquisition of Equipment, Contract Payments and the Purchase Option Price
Section 3.01 Acquisition and Acceptance. Obligor shall be solely responsible for the ordering of the Equipment and for the delivery and installation of the Equipment. The Payment Request
and Equipment Acceptance Form must be signed by the same authorized individual(s) who signed the Signature Card, Exhibit G. By making a Contract Payment after its receipt of the Equipment
pursuant to this Contract, Obligor shall be deemed to have accepted the Equipment on the date of such Contract Payment for purposes of this Contract. All Contract Payments paid prior to
delivery of the Payment Request and Equipment Acceptance Form shall be credited to Contract Payments as they become due as shown on the Contract Payment Schedule attached as Exhibit
B hereto.
(f)
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(h)
(I)
(j)
(k)
(m)
Section 3.02 Contract Payments. Obligor shall pay Contract Payments exclusively to Obligee or its assignees in lawful, legally available money of the United States of America. The Contract
Payments shall be sent to the location specified by the Obligee or its assignees. The Contract Payments shall constitute a current expense of the Obligor and shall not constitute an indebtedness
of the Obligor. The Contract Payments, payable without notice or demand, are due as set forth on Exhibit B. Obligee shall have the option to charge interest at the highest lawful rate on any
Contract Payment received later than the due date for the number of days that the Contract Payment(s) were late, plus any additional accrual on the outstanding balance for the number of
days that the Contract Payment(s) were late. Obligee shall also have the option, on monthly payments only, to charge a late fee of up to 10% of the monthly Contract Payment that is past due.
Furthermore, Obligor agrees to pay any fees associated with the use of a payment system other than check, wire transfer, orACH. Once all amounts due Obligee hereunder have been received,
Obligee will release any and all of its rights, title and interest in the Equipment.
SECTION 3.03 CONTRACT PAYMENTS UNCONDITIONAL. Except as provided under Section 4.01,THE OBLIGATIONS OF OBLIGOR TO MAKE CONTRACT PAYMENTS AND TO PERFORM AND
OBSERVE THE OTHER COVENANTS CONTAINED IN THIS CONTRACT SHALL BE ABSOLUTE AND UNCONDITIONAL IN ALL EVENTS WITHOUT ABATEMENT, DIMINUTION, DEDUCTION, SET-OFF, OR
SUBJECT TO DEFENSE OR COUNTERCLAIM.
Section 3.04 Purchase Option Price. Upon thirty (30) days written notice, Obligor shall have the option to pay, in addition to the Contract Payment, the corresponding Purchase Option Price
which Is listed on the same line on Exhibit B. This option is only available to the Obligor on the Contract Payment date and no partial prepayments are allowed. If Obligor chooses this option
and pays the Purchase Option Price to Obligee then Obligee will transfer any and all of its rights, title and interest in the Equipment to Obligor.
Section 3.05 Contract Term. The Contract Term shall be the Original Term and all Renewal Terms until all the Contract Payments are paid as set forth on Exhibit B except as provided under
Section 4.01 and Section 9.01 below. If, after the end of the budgeting process which occurs at the end of the Original Term or any Renewal Term, Obligor has renewed as provided for In this
Contract then the Contract Term shall be extended into the next Renewal Term and the Obligor shall be obligated to make all the Contract Payments that come due during such Renewal Term.
Section 3.06 Disclaimer of Warranties. OBLIGEE MAKES NO WARRANTY OR REPRESENTATION, EITHER EXPRESS OR IMPLIED, AS TO THE VALUE, DESIGN, CONDITION, MERCHANTABILITY,
FITNESS FOR PARTICULAR PURPOSE OR ANY OTHER WARRANTY WITH RESPECT TO THE EQUIPMENT. OBLIGEE IS NOT A MANUFACTURER, SELLER, VENDOR OR DISTRIBUTOR, OR AGENT
THEREOF, OF SUCH EQUIPMENT; NOR IS OBLIGEE A MERCHANT OR IN THE BUSINESS OF DISTRIBUTING SUCH EQUIPM ENTTOTHE PUBLIC. OBLIGEE SHALL NOT BE LIABLE FOR ANY INCIDENTAL,
INDIRECT, SPECIAL OR CONSEQUENTIAL DAMAGE ARISING OUT OF THE INSTALLATION, OPERATION, POSSESSION, STORAGE OR USE OF THE EQUIPMENT BY OBLIGOR.
IV. Non -Renewal
Section 4.01 Non -Renewal. The Contract shall terminate absolutely and without further obligation on the part of the Obligor at the end of each Budget Year during the Contract Term unless
it is automatically renewed as set forth below. If Obligor chooses to not renew, then all obligations of the Obligor under this Contract regarding Contract Payments for all remaining Renewal
Terms shall be terminated at the end of the then current Budget Year without penalty or liability to the Obligor of any kind provided that if Obligor has not delivered possession of the Equipment
to Obligee as provided herein and conveyed to Obligee or released its interest in the Equipment by the end of the last Budget Year for which Contract Payments were paid, the termination
shall nevertheless be effective but Obligor shall be responsible for the payment of damages in an amount equal to the amount of the Contract Payments thereafter coming due under Exhibit
B which are attributable to the number of days after such Budget Year during which Obligor fails to take such actions and for any other loss suffered by Obligee as a result of Obligor's failure
to take such actions as required. This Contract will automatically renew at the end of each Budget Year unless positive action is taken by Obligor as evidenced by a resolution passed by the
Obligor's governing body to terminate the Contract. Obligor shall immediately notify the Obligee as soon as the decision to non -renew is made. If such non -renewal occurs, then Obligor shall
deliver the Equipment to Obligee as provided below in Section 9.04. Obligor shall be liable for all damage to the Equipment other than normal wear and tear. If Obligor fails to deliver the
Equipment to Obligee, then Obligee may enter the premises where the Equipment is located and take possession of the Equipment and charge Obligor for costs Incurred.
V. Insurance, Damage, Insufficiency of Proceeds
Section 5.01 Insurance. Obligor shall maintain both property insurance and liability insurance at its own expense with respect to the Equipment. Obligor shall be solely responsible for selecting
the insurer(s) and for making all premium payments and ensuring that all policies are continuously kept in effect during the period when Obligor is required to make Contract Payments, Obligor
shall provide Obligee with a certificate of Insurance which lists the Obligee and/or assigns as a loss payee and an additional insured on the policies with respect to the Equipment.
(a) Obligor shall insure the Equipment against any loss or damage by fire and all other risks covered by the standard extended coverage endorsement then in use in the State and any other
risks reasonably required by Obligee in an amount at least equal to the then applicable Purchase Option Price of the Equipment. Alternatively, Obligor may insure the Equipment under
a blanket insurance policy or policies.
(b) The liability insurance shall insure Obligee from liability and property damage in any form and amount satisfactory to Obligee.
(c) Obligor may self -insure against the casualty risks and liability risks described above. If Obligor chooses this option, Obligor must furnish Obligee with a certificate and/or other documents
which evidences such coverage.
(d) All insurance policies issued or affected by this Section shall be so written or endorsed such that the Obligee and its assignees are named additional insureds and loss payees and that all
losses are payable to Obligor and Obligee or its assignees as their interests may appear. Each policy issued or affected by this Section shall contain a provision that the insurance company
shall not cancel or materially modify the policy without first giving thirty (30) days advance notice to Obligee or its assignees. Obligor shall furnish to Obligee certificates evidencing such
coverage throughout the Contract Term.
Section 5.02 Damage to or Destruction of Equipment. Obligor assumes the risk of loss or damage to the Equipment. If the Equipment or any portion thereof is lost, stolen, damaged, or
destroyed by fire or other casualty, Obligor will immediately report all such losses to all possible insurers and take the proper procedures to obtain all insurance proceeds. At the option of
Obligee, Obligor shall either (1) apply the Net Proceeds to replace, repair or restore the Equipment or (2) apply the Net Proceeds to the applicable Purchase Option Price. For purposes of this
Section and Section 5.03, the term Net Proceeds shall mean the amount of insurance proceeds collected from all applicable insurance policies after deducting all expenses incurred in the
collection thereof.
Section 5.03 Insufficiency of Net Proceeds. If there are no Net Proceeds for whatever reason or if the Net Proceeds are insufficient to pay in full the cost of any replacement, repair, restoration,
modification or improvement of the Equipment, then Obligor shall, at the option of Obligee, either (1) complete such replacement, repair, restoration, modification or improvement and pay
any costs thereof in excess of the amount of the Net Proceeds or (2) apply the Net Proceeds to the Purchase Option Price and pay the deficiency, if any, to the Obligee.
Section 5.04 Obligor Negligence. Obligor assumes all risks and liabilities, whether or not covered by insurance, for loss or damage to the Equipment and for injury to or death of any person
or damage to any property whether such injury or death be with respect to agents or employees of Obligor or of third parties, and whether such property damage be to Obligor's property or
the property of others (including, without limitation, liabilities for loss or damage related to the release or threatened release of hazardous substances under the Comprehensive Environmental
Response, Compensation and Liability Act, the Resource Conservation and Recovery Act or similar or successor law or any State or local equivalent now existing or hereinafter enacted which
in any manner arise out of or are incident to any possession, use, operation, condition or storage of any Equipment by Obligor), which is proximately caused by the negligent conduct of Obligor,
its officers, employees and agents.
Section 5.05 Reimbursement. Obligor hereby assumes responsibility for and agrees to reimburse Obligee for all liabilities, obligations, losses, damages, penalties, claims, actions, costs and
expenses (including reasonable attorneys' fees) of whatsoever kind and nature, imposed on, incurred by or asserted against Obligee that in any way relate to or arise out of a claim, suit or
proceeding, based in whole or in part upon the negligent conduct of Obligor, its officers, employees and agents, or arose out of installation, operation, possession, storage or use of any item
of the Equipment, to the maximum extent permitted by law.
VI. Title and Security Interest
Section 6.01 Title. Title to the Equipment shall vest in Obligor when Obligor acquires and accepts the Equipment. Title to the Equipment will automatically transfer to the Obligee in the event
Obligor chooses to not renew under Section 4.01 or in the event Obligor defaults under Section 9.01. In such event, Obligor shall execute and deliver to Obligee such documents as Obligee
may request to evidence the passage of legal title to the Equipment to Obligee.
Section 6.02 Security Interest. To secure the payment of all Obligor's obligations under this Contract, as well as all other obligations, debts and liabilities, plus interest thereon, whether now
existing or subsequently created, Obligor hereby grants to Obligee a security interest under the Uniform Commercial Code constituting a first lien on the Equipment described more fully on
Exhibit A. Furthermore, Obligor agrees that any other collateral securing any other obligation(s) to Obligee, whether offered prior to or subsequent hereto, also secures this obligation. The
security interest established by this section includes not only all additions, attachments, repairs and replacements to the Equipment but also all proceeds therefrom. Obligor authorizes Obligee
to prepare and record any Financing Statement required under the Uniform Commercial Code to perfect the security interest created hereunder. Obligor agrees that any Equipment listed on
Exhibit A is and will remain personal property and will not be considered a fixture even if attached to real property.
VII. Assignment
Section 7.01 Assignment by Obligee. All of Obligee's rights, title and/or interest in and to this Contract may be assigned and reassigned in whole or in part t0 one or more assignees or sub -
assignees by Obligee at any time without the consent of Obligor. No such assignment shall be effective as against Obligor until the assignor shall have filed with Obligor written notice of
assignment identifying the assignee. Obligor shall pay all Contract Payments due hereunder relating to such Equipment to or at the direction of Obligee or the assignee named in the notice of
assignment. Obligor shall keep a complete and accurate record of all such assignments.
Section 7.02 Assignment by Obligor. None of Obligor's right, title and interest under this Contract and in the Equipment maybe assigned by Obligor unless Obligee approves of such assignment
In writing before such assignment occurs and only after Obligor first obtains an opinion from nationally recognized counsel stating that such assignment will not jeopardize the tax-exempt
status of the obligation.
VIII. Maintenance of Equipment
Section 8.01 Equipment. Obligor shall keep the Equipment in good repair and working order, and as required by manufacturer's and warranty specifications. If Equipment consists of copiers,
Obligor is required to enter into a copier maintenance/service agreement. Obligee shall have no obligation to inspect, test, service, maintain, repair or make improvements or additions to the
Equipment under any circumstances. Obligor will be liable for all damage to the Equipment, other than normal wear and tear, caused by Obligor, its employees or its agents. Obligor shall pay
for and obtain all permits, licenses and taxes related to the ownership, installation, operation, possession, storage or use of the Equipment. If the Equipment includes any titled vehicle(s), then
Obligor is responsible for obtaining such title(s) from the State and also for ensuring that Obligee is listed as First Lienholder on all of the title(s). Obligor shall not use the Equipment to haul,
convey or transport hazardous waste as defined in the Resource Conservation and Recovery Act, 42 U.S.C. 6901 et. seq. Obligor agrees that Obligee or its Assignee may execute any additional
documents including financing statements, affidavits, notices, and similar instruments, for and on behalf of Obligor which Obligee deems necessary or appropriate to protect Obligee's interest
in the Equipment and in this Contract. Obligor shall allow Obligee to examine and inspect the Equipment at all reasonable times.
I%. Default
Section 9.01 Events of Default defined. The following events shall constitute an "Event of Default" under this Contract:
(a) Failure by Obligor to pay any Contract Payment listed on Exhibit B for fifteen (15) days after such payment is due according to the Payment Date listed on Exhibit B .
(b) Failure to pay any other payment required to be paid under this Contract at the time specified herein and a continuation of said failure for a period of fifteen (15) days after written
notice by Obligee that such payment must be made. If Obligor continues to fail to pay any payment after such period, then Obligee may, but will not be obligated to, make such payments
and charge Obligor for all costs incurred plus interest at the highest lawful rate.
(c) Failure by Obligor to observe and perform any warranty, covenant, condition, promise or duty under this Contract for a period of thirty (30) days after written notice specifying such
failure Is given to Obligor by Obligee, unless Obligee agrees in writing to an extension of time. Obligee will not unreasonably withhold its consent to an extension of time if corrective
action ft instituted by Obligor. Subsection (c) does not apply to Contract Payments and other payments discussed above.
(d) Any statement, material omission, representation or warranty made by Obligor in or pursuant to this Contract which proves to be false, incorrect or misleading on the date when made
regardless of Obligor's intent and which materially adversely affects the rights or security of Obligee under this Contract.
(e) Any provision of this Contract which ceases to be valid for whatever reason and the loss of such provision would materially adversely affect the rights or security of Obligee.
(f) Except as provided in Section 4.01 above, Obligor admits in writing its inability to pay its obligations.
(g) Obligor defaults on one or more of its other obligations.
(h) Obligor becomes insolvent, is unable to pay Its debts as they become due, makes an assignment for the benefit of creditors, applies for or consents to the appointment of a receiver,
trustee, conservator, custodian, or liquidator of Obligor, or all or substantially all of its assets, or a petition for relief is filed by Obligor under federal bankruptcy, insolvency or similar
laws, or is filed against Obligor and is not dismissed within thirty (30) days thereafter.
Section 9.02 Remedies on Default . Whenever any Event of Default exists, Obligee shall have the right to take one or any combination of the following remedial steps:
(a) With or without terminating this Contract, Obligee may declare all Contract Payments and other amounts payable by Obligor hereunder to the end of the then current Budget Year to
be immediately due and payable.
(b) With or without terminating this Contract, Obligee may require Obligor at Obligor's expense to redeliver any or all of the Equipment and any additional collateral to Obligee as provided
below in Section 9.04. Such delivery shall take place within fifteen (15) days after the Event of Default occurs, If Obligor fails to deliver the Equipment and any additional collateral,
Obligee may enter the premises where the Equipment and any additional collateral is located and take possession of the Equipment and any additional collateral and charge Obligor for
costs Incurred. Notwithstanding that Obligee has taken possession of the Equipment and any additional collateral, Obligor shall still be obligated to pay the remaining Contract Payments
due up until the end of the then current Original Term or Renewal Term. Obligor will be liable for any damage to the Equipment and any additional collateral caused by Obligor or its
employees or agents.
(c) Obligee may take whatever action at law or in equity that may appear necessary or desirable to enforce its rights. Obligor shall be responsible to Obligee for all costs incurred by Obligee
in the enforcement of its rights under this Contract including, but not limited to, reasonable attorney fees.
Section 9.03 No Remedy Exclusive. No remedy herein conferred upon or reserved to Obligee is intended to be exclusive and every such remedy shall be cumulative and shall be in addition to
every other remedy given under this Contract now or hereafter existing at law or in equity. No delay or omission to exercise any right or power accruing upon any default shall Impair any such
right or shall be construed to be a waiver thereof.
Section 9.04 Return of Equipment and Storage.
(a) Surrender: The Obligor shall, at its own expense, surrender the Equipment, any additional collateral and all required documentation to evidence transfer of title from Obligor to the
Obligee in the event of a default or a non -renewal by delivering the Equipment and any additional collateral to the Obligee to a location accessible by common carrier and designated by
Obligee. In the case that any of the Equipment and any additional collateral consists of software, Obligor shall destroy all intangible items constituting such software and shall deliver to
Obligee all tangible items constituting such software. At Obligee's request, Obligor shall also certify in a form acceptable to Obligee that Obligor has complied with the above software
return provisions and that they will immediately cease using the software and that they shall permit Obligee and/or the vendor of the software to inspect Obligor's locations to verify
compliance with the terms hereto.
(b) Delivery:The Equipment and any additional collateral shall be delivered to the location designated by the Obligee by a common carrier unless the Obligee agrees in writing that a common
carrier is not needed. When the Equipment and any additional collateral is delivered into the custody of a common carrier, the Obligor shall arrange for the shipping of the item and its
insurance In transit in accordance with the Obligee's instructions and at the Obligors sole expense. Obligor at its expense shall completely sever and disconnect the Equipment and any
additional collateral or its component parts from the Obligor's property all without liability to the Obligee. Obligor shall pack or crate the Equipment and any additional collateral and
all of the component parts of the Equipment and any additional collateral carefully and in accordance with any recommendations of the manufacturer. The Obligor shall deliver to the
Obligee the plans, specifications, operation manuals or other warranties and documents furnished by the manufacturer or vendor on the Equipment and any additional collateral and
such other documents in the Obligor's possession relating to the maintenance and methods of operation of such Equipment and any additional collateral.
(c) Condition: When the Equipment is surrendered to the Obligee it shall be in the condition and repair required to be maintained under this Contract. It will also meet all legal regulatory
conditions necessary for the Obligee to sell or lease it to a third party and be free of all liens. If Obligee reasonably determines that the Equipment or an item of the Equipment, once it
Is returned, is not In the condition required hereby, Obligee may cause the repair, service, upgrade, modification or overhaul of the Equipment or an item of the Equipment to achieve
such condition and upon demand, Obligor shall promptly reimburse Obligee for all amounts reasonably expended in connection with the foregoing.
(d) Storage: Upon written request by the Obligee, the Obligor shall provide free storage for the Equipment and any additional collateral for a period not to exceed 60 days after the expiration
of the Contract Term before returning it to the Obligee. The Obligor shall arrange for the insurance described to continue in full force and effect with respect to such item during its
storage period and the Obligee shall reimburse the Obligor on demand for the incremental premium cost of providing such insurance.
X. Vendor Payable Account
Section 10.01 Establishment of Vendor Payable Account. On the date that the Obligee executed this Contract, which is on or after the date that the Obligor executes this Contract, Obligee
agrees to (I) make available to Obligor an amount sufficient to pay the total Purchase Price for the Equipment by establishing a separate, non -interest bearing account (the "Vendor Payable
Account"), as agent for Obligor's account, with a financial institution that Obligee selects that is acceptable to Obligor (including Obligee or any of its affiliates) and (ii) to deposit an amount
equal to such Purchase Price as reflected on Exhibit B in the Vendor Payable Account. Obligor hereby further agrees to make the representations, warranties and covenants relating to the
Vendor Payable Account as set forth in Exhibit C attached hereto. Upon Obligor's delivery to Obligee of a Payment Request and Equipment Acceptance Form in the form set forth in Exhibit F
attached hereto, Obligor authorizes Obligee to withdraw funds from the Vendor Payable Account from time to time to pay the Purchase Price, or a portion thereof, for each item of Equipment
as it is delivered to Obligor. The Payment Request and Equipment Acceptance Form must be signed by an authorized individual acting on behalf of Obligor. The authorized individual or
individuals designated by the Obligor must sign the Signature Card which will be kept in the possession of the Obligee.
Section 10.02 Down Payment. Prior to the disbursement of any funds from the Vendor Payable Account, the Obligor must either (1) deposit all the down payment funds that the Obligor has
committed towards the purchase of the Equipment into the Vendor Payable Account or (2) Obligor must provide written verification to the satisfaction of the Obligee that all the down payment
funds Obligor has committed towards the purchase of the Equipment have already been spent or are simultaneously being spent with the funds requested from the Initial Payment Request
and Equipment Acceptance Form. For purposes of this Section, the down payment funds committed towards the Equipment from the Obligor are the down payment funds that were
represented to the Obligee at the time this transaction was submitted for credit approval by the Obligor to the Obligee.
Section 10.03 Disbursement upon Non -Renewal or Default. If an event of non -renewal or default occurs prior to the Partial Prepayment Date, the amount then on deposit in the Vendor
Payable Account shall be retained by the Obligee and Obligor will have no interest therein.
Section 10.04 Surplus Amount. Any Surplus Amount then on deposit in the Vendor Payable Account on the Partial Prepayment Date shall be applied to pay on such Partial Prepayment Date a
portion of the Purchase Option Price then applicable.
Section 10.05 Recalculation of Contract Payments. Upon payment of a portion of the Purchase Option Price as provided in Section 10.04 above, each Contract Payment thereafter shall be
reduced by an amount calculated by Obligee based upon a fraction the numerator of which is the Surplus Amount and the denominator of which is the Purchase Option Price on such Partial
Prepayment Date, Within 15 days after such Partial Prepayment Date, Obligee shall provide to Obligor a revised Exhibit B to this Contract, which shall take into account such payment of a
portion of the Purchase Option Price thereafter and shall be and become thereafter Exhibit B to this Contract. Notwithstanding any other provision of this Section 10, this Contract shall remain
in full force and effect with respect to all or the portion of the Equipment accepted by Obligor as provided in this Contract, and the portion of the principal component of Contract Payments
remaining unpaid after the Partial Prepayment Date plus accrued interest thereon shall remain payable in accordance with the terms of this Contract, including revised Exhibit B hereto which
shall be binding and conclusive upon Obligee and Obligor.
XI. Miscellaneous
Section 11.01 Notices. All notices shall be sufficiently given and shall be deemed given when delivered or mailed by registered mail, postage prepaid, to the parties at their respective places
of business as first set forth herein or as the parties shall designate hereafter in writing.
Section 11.02 Binding Effect. Obligor acknowledges this Contract is not binding upon the Obligee or its assignees unless the Conditions to Funding listed on the Documentation Instructions
have been met to Obligee's satisfaction, and Obligee has executed the Contract. Thereafter, this Contract shall inure to the benefit of and shall be binding upon Obligee and Obligor and their
respective successors and assigns.
Section 11.03 Severability. In the event any provision of this Contract shall be held invalid or unenforceable by any court of competent jurisdiction, such holding shall not invalidate or render
unenforceable any other provision hereof.
Section 11.04 Amendments, Addenda, Changes or Modifications. This Contract may be amended, added to, changed or modified by written agreement duly executed by Obligee and Obligor.
Furthermore, Obligee reserves the right to directly charge or amortize into the remaining balance due from Obligor, a reasonable fee, to be determined at that time, as compensation to
Obligee for the additional administrative expense resulting from such amendment, addenda, change or modification requested by Obligor.
Section 11.05 Execution in Counterparts. This Contract may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and
the same instrument.
Section 11.06 Captions. The captions or headings in this Contract do not define, limit or describe the scope or intent of any provisions or sections of this Contract.
Section 11.07 Master Contract. This Contract can be utilized as a Master Contract. This means that the Obligee and the Obligor may agree to the financing of additional Equipment under this
Contract at some point in the future by executing one or more Additional Schedules to Exhibit A and Exhibit B, as well as other exhibits or documents that may be required by Obligee. Additional
Schedules will be consecutively numbered on each of the exhibits which make up the Additional Schedule and all the terms and conditions of the Contract shall govern each Additional Schedule.
Section 11.08 Entire Writing. This Contract constitutes the entire writing between Obligee and Obligor. No waiver, consent, modification or change of terms of this Contract shall bind either
party unless in writing and signed by both parties, and then such waiver, consent, modification or change shall be effective only in the specific instance and for the specific purpose given. There
are no understandings, agreements, representations, conditions, or warranties, express or implied, which are not specified herein regarding this Contract, the Equipment or any additional
collateral, financed hereunder. Any terms and conditions of any purchase order or other documents submitted by Obligor in connection with this Contract which are in addition to or
inconsistent with the terms and conditions of this Contract will not be binding on Obligee and will not apply to this Contract.
Obligee and Obligor have caused this Contract to be executed in their names by their duly authorized representatives listed below.
Weld County, Colorado
KS StateBank
Pi n ure Signature
Ii ce Freeman, Chair, Board of County Commissiodeg Jarvis,
Printed Name and Title
FEB 1 9 2020
Senior Vice President
Printed Name and Title
P?Dao - o C, [,2,
Schedule (01)
EXHIBIT A
DESCRIPTION OF EQUIPMENT
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
Below is a detailed description of all the items of Equipment including quantity, model number and serial number where applicable:
BWC System
Physical Address of Equipment after Delivery : 1950 O St, Greely, CO 80631
Schedule (01)
EXHIBIT B
PAYMENT SCHEDULE
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
Date of First Payment:
Original Balance:
Total Number of Payments:
Number of Payments Per Year:
At Closing
$459,000.00
Five (5)
One (1)
Pmt Due Contract Applied to Applied to *Purchase
No. Date Payment Interest Principal Option Price
1 At Closing $91,800.00 $0.00 $91,800.00 $343,444.32
2 29 -Jan -21 $91,800.00 $0.00 $91,800.00 $261,020.35
3 29 -Jan -22 $91,800.00 $0.00 $91,800.00 $176,346.21
4 29 -Jan -23 $91,800.00 $0.00 $91,800.00 $89,360.46
5 29 -Jan -24 $91,800.00 $0.00 $91,800.00 $0.00
By signing below, Obligor acknowledges that its obligation to make the Contract Payments set forth in Exhibit B to the Contract includes repayment of the principal amount of
$459,000.00 together with interest at 0.000%.
Furthermore, the amount financed by Obligor is $417,472.04 and such amount is the issue price of this Contract for federal income tax purposes. The difference between the
principal amount of this Contract and the issue price is original issue discount, as defined in section 1288 of the Internal Revenue Code of 1986, as amended. The yield of this
Contract for federal income tax purposes is 4.980%. Such issue price and yield will be stated in the applicable Form 8038-O.
Weld County, Colorado
Signature
Mike Freeman, BOCC Chair
Printed Name and Title
*Assumes all Contract Payments due to date are paid
FEB 1 9 2020
o2-(9020 - DGIy
Schedule (01)
EXHIBIT C
ACCEPTANCE OF OBLIGATION
TO COMMENCE CONTRACT PAYMENTS UNDER EXHIBIT B
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
I, the undersigned, hereby certify that I am a duly qualified representative of Obligor and that I have been given the authority by the governing body
of Obligor to sign this Acceptance of Obligation to commence Contract Payments with respect to the above referenced Contract. I hereby certify
that:
1. The Equipment described on Exhibit A has not been delivered, installed or available for use as of the Commencement date of this Contract.
2. Obligor acknowledges that Obligee has agreed to deposit into a Vendor Payable Account an amount sufficient to pay the total purchase price
(the "Purchase Price") for the Equipment so identified in such Exhibit A;
3. The principal amount of the Contract Payments in the Exhibit B accurately reflects the Purchase Price;
4. Obligor agrees to execute a Payment Request and Equipment Acceptance Form authorizing payment of the Purchase Price, or a portion thereof,
for each withdrawal of funds from the Vendor Payable Account.
Notwithstanding that the Equipment has not been delivered to or accepted by Obligor on the date of execution of the Contract, Obligor hereby
warrants that:
(a) Obligor's obligation to commence Contract Payments as set forth in Exhibit B is absolute and unconditional as of the Commencement Date and
on each date set forth in Exhibit B thereafter, subject to the terms and conditions of the Contract;
(b) immediately upon delivery and acceptance of all the Equipment, Obligor will notify Obligee of Obligor's final acceptance of the Equipment by
delivering to Obligee the "Payment Request and Equipment Acceptance Form" in the form set forth in Exhibit F attached to the Contract;
(c) in the event that any Surplus Amount is on deposit in the Vendor Payable Account when an event of non -renewal or default under the Contract
occurs, then those amounts shall be applied as provided in Section 10 of the Contract;
(d) regardless of whether Obligor delivers a final Payment Request and Equipment Acceptance Form, all Contract Payments paid prior to delivery
of all the Equipment shall be credited to Contract Payments as they become due under the Contract as set forth in Exhibit B.
Weld County, Colorado
Signature
Mike Freeman, BOCC Chair
Printed Name and Title
FEB 1 9 2020
Schedule (01)
EXHIBIT F
PAYMENT REQUEST AND EQUIPMENT ACCEPTANCE FORM
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
In accordance with Section 10.01, by executing this Payment Request and Equipment Acceptance Form the Obligor hereby represents that the Payee
or Payees listed below who are requesting payment have delivered the Equipment or a portion of the Equipment or performed the services to the
satisfaction of the Obligor and that the amounts requested below by the Payee or Payees are proportionate with the value of the Equipment delivered
or services rendered by the Payee or Payees. The Obligor hereby represents and warrants for all purposes that:
1. Pursuant to the invoice attached hereto, the amount to be disbursed is $ q SOO. bb and this amount is consistent with the
Contract between Obligor and vendor. �'
2. Payment is to be made to: Payee: t
3. The undersigned certifies that the following documents are attached to this Payment Request and Equipment Acceptance Form when there is
a request for a release of funds from the Vendor Payable Account to pay for a portion, or all, of the Equipment: (1) Invoice from the vendor, (2)
copy of the Contract between Obligor and vendor (if requested by the Obligee), (3) Insurance Certificate (if applicable), (4) front and back copy
of the original MSO/Title listing KS StateBank and/or its assigns as the first lien holder (if applicable). By executing this Payment Request and
Equipment Acceptance Form and attaching the documents as required above, the Obligor shall be deemed to have accepted this portion of the
Equipment for all purposes under the Contract, including, without limitation, the obligation of Obligor to make the Contract Payments with
respect thereto in a proportionate amount of the total Contract Payment.
4. No amount listed in this exhibit was included in any such exhibit previously submitted.
5. Each disbursement hereby requested has been incurred and is a proper charge against the Vendor Payable Account. No amount hereby
requested to be disbursed will be paid to Obligor as reimbursement for any expenditure paid by Obligor more than 60 days prior to the date of
execution and delivery of the Contract.
6. The Equipment referenced in the attached has been delivered, installed, inspected and tested as necessary and in accordance with Obligor's
specifications and accepted for all purposes.
7. That Obligor is or will be the title owner to the Equipment referenced in the attached, and that in the event that any third party makes a claim
to such title that Obligor will take all measures necessary to secure title including, without limitation, the appropriation of additional funds to
secure title to such Equipment, or a portion thereof, and keep the Contract in full force and effect. Furthermore, Obligor has obtained insurance
coverage as required under the Contract from an insurer qualified to do business in the State.
8. Obligor has appropriated and/or taken other lawful actions necessary to provide moneys sufficient to pay all Contract Payments required to be
paid under the Contract during the current Budget Year of Obligor, and such moneys will be applied in payment of all Contract Payments due
and payable during such current Budget Year.
9. No event or condition that constitutes or would constitute an Event of Default exists as of the date hereof.
I, the undersigned, hereby certify that I am a duly qualified representative of Obligor and that I have been given the authority by the governing body
of Obligor to sign this Payment Request and Equipment Acceptance Form.
Please forward this document and any correspondence relating to vendor payment to:
Email: dmorris@ksstate.bank
or
Fax: (785) 587-4016
Please call (877) 587-4054 if you have any questions.
Weld County, Colorado
Signature
Mike Freeman, BOCC Chair
Printed Name and Title
FEB 1 9 2020
Schedule (01)
EXHIBIT E
OFFICER'S CERTIFICATE
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
I, the undersigned, hereby certify that I am a duly qualified representative of Obligor and that I have been given the authority by the governing body
of Obligor to sign this Officer's Certificate with respect to the above referenced Contract. I hereby certify that:
1. Obligor has appropriated and/or taken other lawful actions necessary to provide moneys sufficient to pay all Contract Payments required to be
paid under the Contract during the current Budget Year of Obligor, and such moneys will be applied in payment of all Contract Payments due
and payable during such current Budget Year.
2. Obligor has obtained insurance coverage as required under the Contract from an insurer qualified to do business in the State.
3. No event or condition that constitutes or would constitute an Event of Default exists as of the date hereof.
4. The governing body of Obligor has approved the authorization, execution and delivery of this Contract on its behalf by the authorized
representative of Obligor who signed the Contract.
5. Please list the Source of Funds (Fund Item in Budget) for the Contract Payments that come due under Exhibit B of this Contract.
Source of Funds : General Fund
By signing below, Obligor hereby authorizes the General Fund of the Obligor as a backup source of funds from which the Contract Payments can be
made.
Weld County, Colorado
Signature
Mike Freeman, BOCC Chair
Printed Name and Title
FEB 1 9 2020
02002o- 06/
RESOLUTION
RE: APPROVE GOVERNMENT OBLIGATION CONTRACT FOR LAW ENFORCEMENT
BODY WORN CAMERA SYSTEM AND AUTHORIZE CHAIR TO SIGN -
KS STATEBANK
BA N K
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 Board has been presented with a Government Obligation Contract for a
Law Enforcement Body Worn Camera System between the County of Weld, State of Colorado,
by and through the Board of County Commissioners of Weld County, on behalf of the Sheriff's
Office, and KS StateBank, commencing upon full execution of signatures, with further terms and
conditions being as stated in said contract, and
WHEREAS, after review, the Board deems it advisable to approve said contract, a copy
of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, that the Government Obligation Contract for a Law Enforcement Body
Worn Camera System between the County of Weld, State of Colorado, by and through the Board
of County Commissioners of Weld County, on behalf of the Sheriff's Office, and KS StateBank,
be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said agreement.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 19th day of February, A.D., 2020.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST:
Weld Co ty Clerk to the :f•ard
APER.pED¢A.A-TO FORM.
County Attorney
Kevin D. Ross
Date of signature: o?
g ---�
;4°
Mike Freeman, Chair
Barbara Kirkm
2020-0612
SO0041
Schedule (01)
EXHIBIT G
SIGNATURE CARD
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
The below signatures will be used for purposes of verifying the signature on a Payment Request and Equipment Acceptance Form prior to making
payments from the Equipment Acquisition Fund or Vendor Payable Account. By signing below, the undersigned represents and warrants that s/he
has received all appropriate authority from Weld County, Colorado.
Weld County, Colorado
ire Freeman, BOCC Chair
Printed Name and Title
FEB 1 9 2020
Signature of additional authorized individual (optional) of Obligor
Signature
Barbara J. Cohlnoil. y, Con roller
Printed Name and Title
FEB 1 9 2020
020020 - 06, /Y
Schedule (01)
EXHIBIT H
OBLIGOR ACKNOWLEDGEMENT
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
Obligor hereby acknowledges that it has ordered or caused to be ordered the equipment that is the subject of the above -mentioned Contract.
Please complete the below information, attach another page if necessary
Vendor Name:
Equipment:
Cost of Equipment:
Vendor Name:
Equipment:
WA. Li ssac
�zac� c .a.wve. f.a5
q q5(006,00
Cost of Equipment:
Vendor Name:
Equipment:
Cost of Equipment:
Vendor Name:
Equipment:
Cost of Equipment:
Vendor Name:
Equipment:
Cost of Equipment:
Obligor will immediately notify Obligee if any of the information listed above is changed.
Schedule (011
EXHIBIT I
BANK QUALIFIED CERTIFICATE
RE: Government Obligation Contract dated as of January 29, 2020, between KS StateBank (Obligee) and Weld County, Colorado (Obligor)
Whereas, Obligor hereby represents that it is a "Bank Qualified" Issuer for the calendar year in which this Contract is executed by making the following
designations with respect to Section 265 of the Internal Revenue Code of 1986, as amended (the "Code"). (A "Bank Qualified Issuer" is an issuer that
issues less than ten million ($10,000,000) dollars of tax-exempt obligations other than "private activity bonds" as defined in Section 141 of the Code,
excluding certain "qualified 501(c)(3) bonds" as defined in Section 145 of the Code, during the calendar year).
Now, therefor, Obligor hereby designates this Contract as follows:
1. Designation as Qualified Tax -Exempt Obligation. Pursuant to Section 265(b)(3)(B)(i) of the Code, the Obligor hereby specifically designates the
Contract as a "qualified tax-exempt obligation" for purposes of Section 265(b)(3) of the Code. In compliance with Section 265(b)(3)(D) of the
Code, the Obligor hereby represents that the Obligor will not designate more than $10,000,000 of obligations issued by the Obligor in the
calendar year during which the Contract is executed and delivered as such "qualified tax-exempt obligations".
2. Issuance Limitation. In compliance with the requirements of Section 265(b)(3)(C) of the Code, the Obligor hereby represents that the Obligor
(including all subordinate entities of the Obligor within the meaning of Section 265(b)(3)(E) of the Code) reasonably anticipates not to issue in
the calendar year during which the Contract is executed and delivered, obligations bearing interest exempt from federal income taxation under
Section 103 of the Code (other than "private activity bonds" as defined in Section 141 of the Code and excluding certain "qualified 501(c)(3)
bonds" as defined in Section 145 of the Code) in an amount greater than $10,000,000.
Weld County, Colorado
Signature
Mike Freeman, BOCC Chair
Printed Name and Title
FEB 1 9 2020
oeoco - oe/ z
INSURANCE REQUIREMENTS
Pursuant to Article V of the Government Obligation Contract, you have agreed to provide us evidence of insurance covering the
Equipment.
A Certificate of Insurance listing the information stated below should be sent to us no later than the date on which the equipment is
delivered,
Insured:
Weld County, Colorado
1150 O Street
Greeley, Colorado 80631
Certificate Holder:
KS StateBank
1010 Westloop, P.O. Box 69
Manhattan, Kansas 66505-0069
1. Equipment Description
• BWC System
• Please Include all applicable VIN's, serial numbers, etc.
2. Deductible
• The deductible amounts on the insurance policy should not exceed $100,000.00.
3. Physical Damage
• All risk coverage to guarantee proceeds of at least $459,000.00.
4. Loss Payee
• KS StateBank AOIA (and/or Its Assigns) MUST be listed as loss payee.
Please forward certificate as soon as possible to:
Email: dmorris@ksstate.bank
or
Fax: (785) 587-4016
Please complete the information below and return this form along with the Contract.
Weld County, Colorado
Insurance Company: Colorado Counties Casualty & Property Pool and Various Additional as noted on the attached COI
Agent's Name: Enid Cordova
Telephone #: 1-800-544-7868
Fax #: 303-861-2832
Address: County Technical Services Inc
City, State Zip: 800 Grant Street, Suite 400 Denver CO 80203
Email: ecordova@ctsi.org
INVOICE
DATE SENT: 01-29-2020
BILL TO:
WELD COUNTY, COLORADO
ATTN: ACCOUNTS PAYABLE
1150 O STREET
GREELEY, COLORADO 80631
REMIT TO:
KS STATEBANK
GOVERNMENT FINANCE DEPARTMENT
PO BOX 69
MANHATTAN, KS 66505-0069
FOR INQUIRIES: (877) 587-4054
ACCOUNT NUMBER
3356195
PAYMENT DATE
At Closing
PAYMENT DUE DATE
At Closing
TOTAL AMOUNT DUE
$91,800.00
DESCRIPTION
AMOUNT
GOVERNMENT OBLIGATION CONTRACT
DATED AS OF JANUARY 29, 2020
BWC SYSTEM
PAYMENT AMOUNT:
Additional interest will be assessed on any payment received after the due date.
$91,800.00
$91,800.00
TOTAL DUE
02.000 - D6/Z
8038 REVIEW FORM
The 8038 form attached hereto is an important part of the documentation package and must be properly filled out and submitted to the Department
of the Treasury in order for you to receive the lower tax-exempt rate. Unless you instruct us otherwise, we have engaged a Paid Preparer to assist in
the filling out of this form. The Paid Preparer has filled out the relevant portions of this form based on the current understanding of what is required
by the Department of the Treasury. The responses on this 8038 form are based on the dates and amounts which you have requested (structure of
the transaction) and which are on the Payment Schedule.
1. Please review our responses for accuracy. If anything is inaccurate, please contact our office so that we can make proper revisions.
2. If the information provided to you on this form is accurate, please sign where indicated and return with the document package.
3. If there are any changes to the structure of the transaction that occur prior to funding which require a change to the 8038 form, we will make
such changes and provide notification to you.
4. We will return to you a copy of the 8038 form that was mailed to the Department of the Treasury.
Important Note:
The IRS is now requesting information regarding tax-exempt issuers' and borrowers' written policies and procedures designed to monitor post -
issuance compliance with the federal tax rules applicable to tax-exempt obligations (boxes 43 and 44). Do not check items 43 and 44 on the 8038
form unless you have established written procedures in accordance with the instructions referenced directly below. If you choose to "check" items
43 and/or 44, please be prepared to provide copies of such written procedures to the Paid Preparer or any representatives of the IRS upon request.
Written procedures should contain certain key characteristics, including making provisions for:
• Due diligence review at regular intervals;
• Identifying the official or employee responsible for review;
• Training of the responsible official/employee;
• Retention of adequate records to substantiate compliance (e.g., records relating to expenditure of proceeds);
• Procedures reasonably expected to timely identify noncompliance; and
• Procedures ensuring that the issuer will take steps to timely correct
noncompliance.
For additional guidance on this 8038 form, you can refer to the Documentation Instructions located on the following government website:
http://www.irs.gov/app/oicklist/list/formslnstructions.html, or contact your local IRS office.
Form 8038-G
(Rev. September 2018)
Department of the Treasury
Internal Revenue Service
Part I
Information Return for Tax -Exempt Governmental Obligations
► Under Internal Revenue Code section 149(e)
► See separate instructions.
Caution: If the issue price is under $100,000, use Form 8038 -GC.
OMB No. 1545-0720
Reaortinq Authori
If Amended Return, check here ►
DJ
1
issuer's name
Weld County, Colorado
2
Issuer's employer identification number (EIN)
84-6000813
3a
Name of person (other than issuer) with whom the IRS may communicate about this return (see instructions)
3b
Telephone number of other person shown on 3a
4
Number and street (or P.O. box if mail is not delivered to street address)
1150 O Street
Room/suite
5
Report number (For IRS Use Only)
13
74
6
City, town, or post office, state, and ZIP code
Greeley, Colorado 80631
7
Date of issue
01/29/2020
8
Name of issue
Government Obligation Contract
9
CUSIP number
None
10a
Name and title of officer or other employee of the issuer whom the IRS may call for more information (see
instructions)
Ms, Barbara Connolly, Controller
10b
Telephone number of officer or other
employee shown on 10a
(970) 400-4445
Part II
Type of Issue (enter the issue price). See the instructions and attach schedule.
11 Education
12 Health and hospital
13 Transportation
14 Public safety
15 Environment (including sewage bonds)
16 Housing
17 Utilities
18 Other. Describe ► BWC System
19 If obligations are TANs or RANs, check only box 19a . ► ❑
If obligations are BANs, check only box 19b ► ❑
20 If obligations are in the form of a lease or installment sale, check box ► ❑
Part III
11
12
13
14
15
16
17
18
431,242
04
Description of Obligations. Complete for the entire issue for which this form is being filed.
21
(a) Final maturity date
(b) issue price
(c) Stated redemption
price at maturity
(d) Weighted
average maturity
(e) Yield
01/29/2024
$ 431,242.04
$ 417,472.04
3.000 years
4.919
Part IV
Uses of Proceeds of Bond Issue (including underwriters' discount)
22 Proceeds used for accrued interest
23 Issue price of entire issue (enter amount from line 21, column (b))
24 Proceeds used for bond issuance costs (including underwriters' discount) 24 13,770 00
25 Proceeds used for credit enhancement .
26 "' Proceeds allocated to reasonably required reserve or replacement fund
27 Proceeds used to refund prior tax-exempt bonds. Complete Part V.
28 Proceeds used to refund prior taxable bonds. Complete Part V.
29 Total (add lines 24 through 28)
30 Nonrefunding proceeds of the issue (subtract line 29 from line 23 and enter amount here)
Part V
25
26
27
28
22
23
431,242
04
29
30
13,770
417,472
00
04
Description of Refunded Bonds. Complete this part only for refunding bonds.
31 Enter the remaining weighted average maturity of the tax-exempt bonds to be refunded
32 Enter the remaining weighted average maturity of the taxable bonds to be refunded
33 Enter the last date on which the refunded tax-exempt bonds will be called (MM/DD/YYYY) ►
34 Enter the date(s) the refunded bonds were issued ► (MM/DD/YYYY)
years
years
For Paperwork Reduction Act Notice, see separate instructions.
Cat. No. 63773S Form 8038-G (Rev. 9-2011)
Form 8038-G (Rev. 9-2011
Page 2
Part VI
35 Enter the amount of the state volume cap allocated to the issue under section 141(b)(5)
36a Enter the amount of gross proceeds invested or to be invested in a guaranteed investment contract (GIC)
(see instructions)
b Enter the final maturity date of the GIC► (MM/DD/YYYY)
c Enter the name of the GIC provider P.
37 Pooled financings: Enter the amount of the proceeds of this issue that are to be used to make loans
to other governmental units
Miscellaneous
38a
b
c
d
39 If the issuer has designated the issue under section 265(b)(3)(B)(i)(III) (small issuer exception), check box ► [✓(
40 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check box ► ❑
41a If the issuer has identified a hedge, check here ► ❑ and enter the following information:
b Name of hedge provider ►
c Type of hedge ►
d Term of hedge ►
42 If the issuer has superintegrated the hedge, check box ► ❑
43 If the issuer has established written procedures to ensure that all nonqualified bonds of this issue are remediated
according to the requirements under the Code and Regulations (see instructions), check box ► ❑
44 If the issuer has established written procedures to monitor the requirements of section 148, check box D. ❑
45a If some portion of the proceeds was used to reimburse expenditures, check here ► ❑ and enter the amount
of reimbursement ►
b Enter the date the official intent was adopted ► (MM/DD/YYYY)
35
36a
37
If this issue is a loan made from the proceeds of another tax-exempt issue, check box P. ❑ and enter the following information:
Enter the date of the master pool bond ►(MM/DD/YYYY)
Enter the EIN of the issuer of the master pool bond Iv -
Enter the name of the issuer of the master pool bond ►
Signature
and
Consent
Paid
Preparer
Use Only
Signature
s authorized representative Date
Print/Type preparer's name
H. Evan Howe
Preparers signature
Evan Howe
your signing location here
1IVW� 2020-01-2810:03:11
Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge
and belief, they are true, correct, and complete. I further declare that I consent to the IRS's disclosure of the issuer's return information, as necessary to
process this return, to the person that I have authorized above.
FEB 1 9 2020' Mike Freeman, BOCC Chair
Type or print name and title
Date
01/29/2020
Check ❑ if
self-employed
PTIN
P01438994
Firm's Name ► Baystone Financial LLC
Firm's EIN ► 48-1223987
Firm's Address ► 12980 Metcalf, Suite 310, Overland Park, KS 66213
Phone no. (800) 752-3562
Form 8038-G (Rev. 9-2011))
o�O�2D-D��v
Contract Form
Entity Information
Entity Name*
KANSAS STATE BANK
New Contract Request
Entity ID*
@00011076
Contract Name* Contract ID
FINANCING AGREEMENT FOR THE BODY WORN CAMERA 3423
SYSTEM
Contract Status
CTB REVIEW
Contract Description*
FINANCING AGREEMENT ATTACHED TO CONTRACT
Contract Lead *
SKANETA
❑ New Entity?
Parent Contract ID
3422
Requires Board Approval
YES
Contract Lead Email Department Project #
skaneta@comeld.co.us;
skohlgraft hvveldgov.corn
Contract Description 2
PARENT CONTRACT IS UNDER# 3422 UTILITY ASSOCIATES FOR 5 YEAR PERIOD; MONTHLY PAYMENT WILL BE MADE TO
KANSAS STATE BANK PER B CONNELLY AND KS STATE BANK WILL SEND FUNDS TO UTILITY
Contract Type*
CONTRACT
Amount *
$359,000.00
Renewable*
NO
Automatic Renewal
Grant
Department
SHERIFF
Department Email
CM-Sheriff@weldgov.com
Department Head Email
CM-Sheriff-
DeptHead@weldgov.com
County Attorney
GENERAL COUNTY
ATTORNEY EMAIL
County Attorney Email
CM-
COUNTYATTORN EY@,4VELD
GOV COM
Requested BOCC Agenda
Date*
02/25/2020
Due Date
02/21/2020
Will a work session with BOCC be required?*
HAD
Does Contract require Purchasing Dept. to be included?
If this is a renewal enter previous Contract ID
If this is part of a MSA enter MSA Contract ID
Note: the Previous Contract Number and Master Services Agreement Number should be left blank if those contracts are not in
OnBase
Contract Dates
Effective Date Review Date*
10/01/2024
Termination Notice Period Committed Delivery Date
Renewal Date
Expiration Date*
12/31/2024
Contact Information
Contact Info
Contact Name
a
Appro r
Department Head
BONNIE PATCH
DH Approved Date
02/12/2020
Final Approval
BOCC Approved
BOCC Signed Date
BOCC Agen
02119/2020
Originator
SKOHLGRAF
Contact Type
Contact Email
Finance Approver
BARB CONNOLLY
Contact Phone 1 Contact Phone 2
Purchasing Approved Date
Finance Approved Date
02/12f2020
Tyler Ref f
AG021920
Legal Counsel
BOB CHOATE
Legal Counsel Approved Date
02/12/2020
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