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HomeMy WebLinkAbout160 - 11/20/1984 - AUTHORIZING THE ISSUANCE OF POLLUTION CONTROL REVENUE BOND (ANHEUSER-BUSCH COMPANIES PROJECT) SERIES + 46 4404A 10/24/84 CERTIFIED RECORD OF PROCEEDINGS OF THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO RELATING TO AN ORDINANCE AUTHORIZING THE ISSUANCE OF ITS POLLUTION CONTROL REVENUE BOND (ANHEUSER-BUSCH COMPANIES PROJECT) SERIES 1984 DATED DECEMBER 1 , 1984 IN THE AGGREGATE PRINCIPAL AMOUNT OF $35 000, 000 STATE OF COLORADO ) COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS ) The Council of the City of Fort Collins , Colorado, reconvened its adjourned regular meeting of October 16, 1984 , at Council Chambers , City Hall, 300 LaPorte Avenue, Fort Collins , Colorado, on Tuesday, the 30th day of October, 1984, at the hour of 5 : 30 p.m. The following persons were present : Council Members : Gerald C. Horak , Mayor E. John Clarke , Assistant Mayor John B. Knezovich William Elliott Kelly Ohlson Barbara Rutstein Ed Stoner City Manager : John E. Arnold City Clerk : Wanda M. Krajicek The following persons were absent: None Council Member Knezovich introduced the following Ordinance, authorizing the issuance of the City of Fort Collins Pollution Control Revenue Bonds , (Anheuser-Busch Companies Project) , Series 1984, in the principal amount of $35, 000, 000 and providing for the payment of said bonds and the interest thereon, which was read by title , copies of the full Ordinance having been available in the office of the City Clerk at least forty-eight (48) hours prior to the time said Ordinance was introduced for each Council Member and for inspection and copying by the general public : -1- ORDINANCE No . 160, 1984 AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF POLLUTION CONTROL REVENUE BONDS (ANHEUSER-BUSCH COMPANIES PROJECT) , SERIES 1984, IN THE AGGREGATE PRINCIPAL AMOUNT OF $35,000,000 AND THE EXECUTION AND DELIVERY OF A POLLUTION CONTROL FACILITIES FINANCING AGREEMENT, A TRUST INDENTURE , AND A BOND PURCHASE AGREEMENT RELATED THERETO; MAKING CERTAIN DETERMINATIONS WITH RESPECT THERETO; PROVIDING FOR THE PRINCIPAL AMOUNT, NUMBERS, PROVISIONS FOR REDEMPTION AND MATURITY OF, AND RATES OF INTEREST ON, THE BONDS ; REQUESTING THE TRUSTEE TO AUTHENTICATE THE BONDS; AUTHORIZING INVESTMENTS ; AUTHORIZING INCIDENTAL ACTION; ORDERING A PUBLIC HEARING; AND REPEALING INCONSISTENT ACTIONS. WHEREAS , the City of Fort Collins , Colorado (the " Issuer" ) is authorized by the Colorado County and Municipality Development Revenue Bond Act (the "Act" ) to issue revenue bonds for the purpose of financing pollution control and sewage and solid waste disposal projects for business enterprises ; and WHEREAS , the Issuer has been requested to enter into a Pollution Control Facilities Financing Agreement (the "Financing Agreement") dated as of December 1, 1984 with Anheuser-Busch Companies, Inc. (the "Company" ) and Anheuser-Busch, Incorporated ("ABI" ) to finance certain pollution control and sewage and solid waste disposal facilities to be installed at ABI 's proposed Fort Collins brewery (the "Project") by the issuance of $35, 000, 000 in aggregate principal amount of bonds to be known as Pollution Control Revenue Bonds (Anheuser-Busch Companies Project) , Series 1984 (the "Bonds" ) to be issued pursuant to a Trust Indenture dated as of December 1, 1984 (the "Indenture") to Mercantile Trust Company National Association, St. Louis , Missouri , as Trustee (the "Trustee" ) ; and WHEREAS , the Bonds will be issued, sold and delivered by the Issuer to Chemical Bank (the "Purchaser") , at a price of not less than 100% of principal amount thereof, pursuant to a Bond Purchase Agreement dated as of December 1, 1984 (the "Bond Purchase Agreement" ) among the Issuer , the Purchaser , the Company and ABI , and the proceeds thereof used to pay the cost of financing the Project , including certain incidental costs and expenses incurred in connection with the issuance of the Bonds ; and WHEREAS, the Issuer has considered the Company' s and ABI ' s proposal and has concluded that the economic and other benefits to the City will be substantial and that it wishes to proceed with the financing of the Project; -2- NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO, AS FOLLOWS : Section 1. CONFIRMATION OF PRIOR RESOLUTION. Resolution No. 83-31 , adopted February 1, 1983, including the findings and approvals therein set forth, is hereby ratified and confirmed, and such findings and approvals are hereby incorporated by reference herein the same as if set forth in full. Section 2. APPROVAL OF FINANCING AGREEMENT, INDENTURE, AND BOND PURCHASE AGREEMENT. The forms of the Financing Agreement , the Indenture and the Bond Purchase Agreement, presented to this meeting (copies of which shall be filed with the records of the Issuer) are hereby approved, and the Mayor of the Issuer (the "Mayor" ) is hereby authorized to execute and deliver , and the City Clerk (the "Clerk") is hereby authorized to affix the seal of the Issuer where appropriate to, and attest, such documents in substantially such form and upon the terms and conditions set forth herein and therein, with such changes therein as such officers shall approve (including changes in dates and amounts necessary to conform such documents to the final terms as approved by the Company, ABI and the Purchaser) , such approval to be evidenced by their execution thereof. In accordance with the requirements of the Act, the Issuer hereby determines that the following provisions shall be as set forth in the form of the Indenture hereinbefore approved, which form is hereby incorporated herein by reference as if set forth in full : (a) Custody of the proceeds from the sale of the Bonds , including their investment and reinvestment until used to defray the costs of the Project ; (b) The creation of funds or accounts into which any Bond proceeds, revenues and income may be deposited or created; (c) Limitation on the purpose to which proceeds of any Bonds or additional bonds may be applied; (d) Limitation on the issuance of additional bonds , the terms upon which additional bonds are issued and secured, the refunding of Bonds and the replacement of Bonds ; (e) The procedure by which the terms of any contract with Bondholders may be amended or abrogated; (f) Vesting in the Trustee such properties , rights , powers and duties in trust as the Issuer determines and limiting the rights , duties and powers of the Trustee; and -3- (g) The rights and remedies available in case of a default to the Bond owners or to the Trustee under the Financing Agreement, the Company' s and ABI ' s Note, or the Indenture. In accordance with the requirements of the Act , the Issuer hereby determines that the following provisions shall be as set forth in the form of Financing Agreement hereinbefore approved , which form is hereby incorporated herein by reference as if set forth in full : (a) The fixing and collection of revenues from the Project ; and (b) The maintenance and insurance of the Project. Section 3. ISSUANCE OF BONDS. The issuance of the Bonds is hereby authorized. The forms of the Bonds set forth in the Indenture are hereby approved; the Bonds shall be executed with the manual or facsimile signatures of the Mayor and the Clerk on the face of the Bonds in substantially such forms with appropriate insertions and variations, and the seal of the Issuer or a facsimile thereof is hereby adopted and authorized to be affixed or imprinted thereon ; and the Mayor is authorized and directed to deliver the Bonds to the Trustee for authentication under the Indenture and, when they have been authenticated, to deliver them or cause them to be delivered to the Purchaser pursuant to the Bond Purchase Agreement against receipt of the purchase price as specified therein, plus any accrued interest due, and to deposit the amount so received with the Trustee as provided in the Indenture. Section 4. TERMS OF BONDS . The Bonds shall be issued in the aggregate principal amount of $35, 000, 000, shall be dated as of the actual date of issuance and delivery or as otherwise provided in the Indenture, shall be issued as fully registered bonds in the denominations authorized by the Indenture, shall mature December 1 , 2014 , and shall bear interest payable quarterly on March 1 , June 1 , September 1 and December 1 of each year or semi-annually on June 1 and December 1 of each year, at the rate or rates which shall be determined as provided below and in the form of the Bonds and in the Indenture. Pursuant to Section 6 of the Act , the maximum net effective interest rate for the Bonds , with which the Bond Purchase Agreement shall comply, shall not exceed 35% . The numbers and provisions for redemption of the Bonds , the registration and exchangeability privileges , the medium and place of payment, and the priorities in revenues of the Issuer , shall be as set forth (a) in the aforesaid forms of such Bonds which forms are hereby approved and incorporated by reference as if set forth in full, and (b) in the form of the Indenture hereinbefore approved and incorporated. -4- Until the Conversion Date as defined below, the Bonds shall be issued in the form attached to the Indenture as Schedule I and shall bear interest from the date of issuance, payable in arrears on the first day of March, June, September and December in each year , commencing March 1, 1985, and on the Conversion Date, at a Floating Rate of interest as follows : (i) From the date of issuance through December 31 , 1989 , such interest rate shall be equal to 64% of the prime lending rate of Chemical Bank , New York , New York, as is publicly announced by such Bank at its principal office from time to time (the "Prime Rate") , subject to increase or decrease from time to time as provided in ( iii) below; ( ii) From and after January 1, 1990, such interest rate shall be equal to 66% of the Prime Rate, subject to increase or decrease from time to time as provided in (iii) below; and (iii) Additional interest shall be payable on the Bonds or the amount of interest payable thereon shall be reduced, to the extent that the after-tax yield to the holder in respect of such Bonds shall be reduced or increased by reason of changes in the Internal Revenue Code of 1954, as amended (the "Code") which become effective after the date of issuance of the Series 1984 Bonds , including , in particular , changes in the Federal income tax deduction allowed to the holder in respect of the costs (or assumed costs) of borrowing funds for the purposes of holding such Bonds. For purposes of clause (iii) above, it shall be assumed that, as a result of the amendments to Section 291 of the Code enacted by the Tax Reform Act of 1984, the after-tax yield to the holder shall be reduced , effective January 1, 1985, so that the interest rate on the Series 1984 Bonds shall, at such date, become 65 1/2% of the Prime Rate, and that , if there shall be no further changes to the Code affecting the yield to the holder , such interest rate shall become 67 3/4% of the Prime Rate from and after January 1, 1990. In the event of other changes in the Code which shall affect the rate of interest pursuant to clause (iii) above, the holder of the Bonds , by acceptance thereof, agrees promptly to give notice of such change , of the effective date thereof and of the new interest rate payable thereon, whereupon the Floating Rate shall be changed accordingly. At any time the Company may cause the interest rate on the Bonds to be changed , either to the Adjustable Rate (subject to redetermination as hereinafter provided) or the Long Term Fixed Rate (as such terms are defined below) , by giving written notice of such election (the "Conversion Notice" ) at least three ( 3) days prior to the date (the "Conversion Date" ) as of which the interest rate is to be fixed. In the Conversion Notice, the Company shall specify either (a) that the interest rate shall be -5- adjustable on a yearly basis (the "Adjustable Rate" ) after the first May 31 which is at least one year after the Conversion Date or (b) that the interest rate shall be fixed at a rate (the "Long Term Fixed Rate" ) which shall remain fixed until the final maturity of the Bonds , and the Conversion Notice shall also specify the date as of which Dillon , Read & Co. , Inc. or other Indexing Agent appointed under the Indenture (the " Indexing Agent" ) shall determine the applicable interest rate on the Bonds (the "Determination Date") . From and after the Conversion Date, the interest rate on the Bonds shall be a rate determined by the Indexing Agent (subject to further adjustment in the case of the Adjustable Rate) in accordance with the following requirements. It shall be a condition to the Company' s right to exercise this election that the Bonds shall be rated , at least prospectively, by either Moody's Investors Service , Inc. or any successor ("Moody' s") , or Standard & Poor' s Corporation, or any successor ("S&P" ) . Upon receipt of the Conversion Notice , the Indexing Agent shall determine the Adjustable Rate or the Long Term Fixed Rate which, in the judgment of the Indexing Agent, would be most likely to cause the Bonds to trade at par in the secondary market as of the Determination Date, based on an evaluation of not less than five issues of tax-exempt securities having maturities or redemption provisions exercisable by the holder thereof approximating the applicable term for which interest is being fixed and which are rated by Moody' s or S&P in a debt rating category which is the same as or which is immediately proximate to the rating category in which the Bonds will or are expected to be rated by such rating agency on the Conversion Date. On the Conversion Date, the interest rate on the Bonds shall be changed to the Adjustable Rate or the Long Term Fixed Rate , and the holder of such Bonds shall be entitled to receive accrued and unpaid interest thereon to the Conversion Date, upon surrender of such Bond to the Trustee. Upon such surrender , the Trustee shall issue to the holder of the Bond or as directed by such holder a Series 1984 Bond or Bonds , in the aggregate principal amount hereof , which shall be substantially in the form set forth in recital "G" of the Indenture if the Bonds shall bear interest at the Adjustable Rate , and which shall be substantially in the form set forth in recital "H" of the Indenture if the Bonds shall bear interest at the Long Term Fixed Rate. Adjustment of Interest Rate If after the Conversion Date, the Bonds bear interest at the Adjustable Rate, on or prior to April 25 of each year , the Indexing Agent shall determine the interest rate on such Bonds which , in the judgment of the Indexing Agent, would be most likely to cause such Bonds to trade at par in the secondary -6- market as of such April 25, based on an evaluation of not less than five issues of tax-exempt securities having maturities or redemption provisions exercisable by the holder thereof of approximately one year and which are rated by Moody' s or S&P in a debt rating category which is the same as or which is immediately proximate to the rating category in which the Bonds are rated, or most recently have been rated. The Indexing Agent shall notify the Issuer , the Trustee and the Company on April 25 of each year (or on the next business day if April 25 shall not be a business day) of the interest rate determined as provided in the preceding paragraph (the "Index Rate" ) , and the Trustee shall give notice of the Index Rate to the registered holders of the Bonds , informing them that, (1) effective on the following June 1 (the "Adjustment Date") , the interest rate on the Series 1984 Bonds shall be changed to a rate to be determined by the Indexing Agent on the basis of market conditions as of the business day immediately preceding the Adjustment Date, which rate shall, however , be not less than 85% nor more than 115% of the Index Rate , and (2) the holders have the right to tender their Series 1984 Bonds for redemption or purchase on the Adjustment Date , as described in the Bond form under "Option of Holder to Tender Bond for Redemption or Purchase. " As of the business day immediately preceding the Adjustment Date, the Indexing Agent shall determine the interest rate for the Bonds which, in the judgment of the Indexing Agent , on the basis of the factors referred to in the preceding paragraph, would cause the Bonds to trade at par in the secondary market as of such date. The Indexing Agent shall give notice to the Trustee of such interest rate , and the interest rate on the Bonds shall be changed to such interest rate , effective on the Adjustment Date, subject to a minimum and maximum rates referred to above and subject to further adjustment as hereinafter provided. The Trustee shall give notice of such new interest rate to the Issuer , the Company and the registered holders of the Bonds. Establishment of Lonq Term Fixed Interest Rate In lieu of permitting the interest rate on the Bonds to be adjusted annually as provided above , the Company may elect, by notice (the "Long Term Rate Election" ) delivered to the Issuer , the Trustee and the Indexing Agent between April 1 and April 15 of any year , that the interest rate on the Bonds be established , effective on June 1 of the same year (the "Long Term Rate Effective Date" ) , to a rate (the "Long Term Fixed Rate" ) which shall remain in effect for the remaining term of the Bonds . The Long Term Fixed Rate shall thereupon be determined by the Indexing Agent as provided in the following paragraphs. On or prior to the April 25 following receipt of the Long Term Rate Election, the Indexing Agent shall determine the -7- interest rate (the "Long Term Rate Index" ) which , in the judgment of the Indexing Agent , would cause the Bonds to trade at par in the secondary market as of such April 25 , taking into account the factors described above under "Adjustment of Interest Rate," except that the other tax-exempt issues on the basis of which the determintion is made shall have maturities approximating the remaining term of the Bonds. The Indexing Agent shall notify the Issuer , the Trustee and the Company on such April 25 (or on the next business day if such April 25 shall not be a business day) of the Long Term Rate Index, and the Trustee shall give notice to the registered holders of the Bonds, informing them that (1) from and after the Long Term Rate Effective Date, the Bonds shall bear interest at the Long Term Fixed Rate , which shall be not less than 85% nor more than 115% of the Long Term Rate Index , (2) from and after the Long Term Rate Effective Date the option of the Bondholders to have their Bonds redeemed will terminate, (3) unless the registered holder shall surrender such Bond for exchange and elect to retain such Bond after the Long Term Rate Effective Date, such Bond will be redeemed or purchased as of the Long Term Rate Effective Date and interest shall cease to accrue thereon for the benefit of such registered holder , as described in the Bond form under "Mandatory Redemption or Purchase on Long Term Rate Determination, " and (4) in order to receive payment of the redemption or purchase price for such Bond, or to exchange such Bond for a Bond bearing interest at the Long Term Fixed Rate, the holder must deliver the Bond to the Trustee, in accordance with instructions to be specified in such notice. As of the business day next preceding the Long Term Rate Effective Date, the Indexing Agent shall determine the Long Term Fixed Rate, which shall be the rate which, in the judgment of the Indexing Agent, on the basis of factors referred to in the second preceding paragraph, would cause the Bonds to trade at par in the secondary market as of such date, provided that the Long Term Fixed Rate shall be not less than 85% nor more than 115% of the Long Term Rate Index and shall in no event exceed 35% per annum. The Indexing Agent shall give notice to the Trustee of the Long Term Fixed Rate on the business day next preceding the Long Term Rate Effective Date, and the interest rate on the Bonds shall be changed to such interest rate, on the Long Term Rate Effective Date , subject to the minimum and maximum rates referred to above. In connection with any Conversion Notice or Long Term Rate Election , the Company shall deliver to the Trustee and the Issuer an opinion of recognized bond counsel satisfactory to the Company that the change to an Adjustable or Long Term Fixed Rate on the Conversion Date or the establishment of a Long Term Fixed Rate will not adversely affect the tax-exempt status of the interest on the Bonds. -8- The computation and determination of the Adjusted Rate and the Long Term Fixed Rate by the Indexing Agent shall be conclusive and binding upon the Issuer , the Trustee, the Company, ABI and the owners of the Bonds. Section 5. DETERMINATION OF REVENUES. In accordance with the Act , it is hereby determined that (a) in view of the ownership of the Project by ABI and the consequent subjection of the Project to ad valorem taxes, no amount is necessary for payments in lieu of taxes ; (b) no amount is required for a reserve fund; and (c) the amount of $35 , 000 , 000 will be required on December 1, 2014 to pay principal of the Bonds , and assuming the maximum effective interest rate of 35% , not more than $12,250 ,000 will be necessary in each of the years 1985 through 2014 for the payment of annual interest on the Bonds. Section 6. AUTHENTICATION OF BONDS. The Trustee is hereby requested to authenticate the Bonds and to deliver them to, or upon the order of, the Mayor. Section 7. INVESTMENT OF FUNDS. The Trustee shall be, by virtue of this Ordinance and without further authorization from the Issuer , authorized, directed and requested to invest and reinvest all moneys available therefor held by it pursuant to the Indenture which by the terms of said Indenture may be invested , or to deposit and redeposit such moneys in such accounts as may be permitted by the said Indenture , all subject to the terms and limitations contained in the Indenture. Section 8. INCIDENTAL ACTION. The officers of the Issuer are hereby authorized and directed to execute and deliver such other documents , and to take such other action as may be necessary or appropriate in order to effectuate the delivery of the aforesaid Financing Agreement, Indenture and Bond Purchase Agreement , the performance of the Issuer ' s obligations thereunder , and the issuance and sale of the Bonds. Section 9. BONDS SHALL NOT CONSTITUTE A PECUNIARY LIABILITY OF THE ISSUER. As required by the Act, the Bonds shall be special , limited obligations of the Issuer, payable solely from the revenues derived from the Project and shall never constitute the debt or indebtedness of the Issuer within the meaning of any provision or limitation of the Colorado Constitution, Colorado Statutes , or the Issuer 's Home Rule Charter , and shall not constitute or give rise to a pecuniary liability of the Issuer or a charge against its general credit or taxing powers. Section 10. REPEALER. All acts, orders , resolutions , ordinances , or parts thereof , taken by the Issuer in conflict with this Ordinance are hereby repealed , except that this repealer shall not be construed so as to revive any act, order , resolution , ordinance, or part thereof, heretofore repealed. -9- Section 11. ORDINANCE IRREPEALABLE. This Ordinance is, and shall constitute, a legislative measure of the Issuer , and after the Bonds are issued and outstanding , this Ordinance shall constitute a contract between the Issuer and the owner or owners of the Bonds, and shall be and remain irrepealable until the Bonds and the interest accruing thereon shall have been fully paid, satisfied and discharged. Section 12. SEVERABILITY. If any paragraph, clause or provision of this Ordinance is judicially adjudged invalid or unenforceable , such judgment shall not affect , impair or invalidate the remaining paragraphs , clauses or provisions hereof , the intention being that the various paragraphs, clauses or provisions hereof are severable. Section 13. PUBLIC HEARING. NOTICE IS HEREBY GIVEN THAT THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO , WILL HOLD A PUBLIC HEARING AT COUNCIL CHAMGERS , 300 LAPORTE AVENUE, FORT COLLINS , COLORADO ON NOVEMBER 20, 1984 , AT THE HOUR OF 5: 30 P.M. , OR AS SOON THEREAFTER AS POSSIBLE, ON THE PROPOSED ISSUANCE BY THE CITY OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS IN AN AGGREGATE PRINCIPAL AMOUNT NOT TO EXCEED $35, 000, 000, FOR THE PURPOSE OF FINANCING THE CONSTRUCTION OF POLLUTION CONTROL AND SEWAGE AND SOLID WASTE DISPOSAL FACILITIES TO BE INSTALLED AT THE PROPOSED FORT COLLINS BREWERY TO BE OWNED AND OPERATED BY ANHEUSER-BUSCH, INCORPORATED, TO BE LOCATED AT 3500 EAST COUNTY ROAD 52 IN THE CITY OF FORT COLLINS . COUNCIL CHAMBERS ARE ACCESSIBLE TO THE HANDICAPPED. FOLLOWING THE HEARING THE COUNCIL WILL CONSIDER AND ACT UPON AN ORDINANCE AUTHORIZING THE FINANCING OF THE PROJECT AND THE ISSUANCE OF THE BONDS. ALL INTERESTED PERSONS ARE INVITED TO ATTEND THE PUBLIC HEARING, WHICH WILL BE THE ONLY PUBLIC HEARING HELD PRIOR TO THE FINAL CONSIDERATION OF THE ORDINANCE BY THE CITY AND THE ISSUANCE OF THE BONDS. -10- INTRODUCED, READ, APPROVED ON FIRST READING, AND ORDERED PUBLISHED ONCE IN FULL THIS 30th day of October , 1984. CITY OF FORT COLLINS, COLORADO By: (CITY) Mayor (SEAL) ATTEST: A City' Clerk A public p hearing will be held and the foregoing Ordinance 4 9 nanc e will be presented for final passage at the Council' s regular meeting , to be held at Council Chambers , City Hall , 300 LaPorte Avenue, Fort Collins , Colorado, on Tuesday, the 20th day of November , 1984, at 5: 30 p.m. -11- READ, FINALLY PASSED ON SECOND READING , AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this 20th day of November, 1984. CITY OF FORT COLLINS , COLORADO By: (CITY) Mayor (SEAL) ATTEST:y��1_ 1n ppp���` k_ S City Clerk -12- Council Member Knezovich moved that the foregoing Ordinance heretofore introduced and read by title be approved on first reading . Council Member Elliott seconded the motion. The question being upon the approval on first reading of the Ordinance, the roll was called with the following results : Council Members voting "AYE" : Gerald C. Horak E. John Clarke John B. Knezovich William Elliott Kelly Ohlson Barbara Rutstein Ed Stoner Council Members voting "NAY" : None The Mayor thereupon declared that , a majority of the Council Members present having voted in favor thereof, the motion was carried and the Ordinance duly approved on first reading. Thereupon the Mayor ordered said Ordinance published once in full together with a notice giving the date when said Ordinance will be presented for final passage in The Coloradoan , a newspaper of general circulation published in the City, on November 4, 1984. After consideration of other business to come before the Council, the meeting was adjourned. Mayor (CITY) City o Fort Collins , Colorado (SEAL) ATTEST: City Clerk ' C�t City of Fort Collins , Colorado -13- STATE OF COLORADO ) COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS ) The Council of the City of Fort Collins, Colorado, held a regular meeting at Council Chambers , City Hall, 300 LaPorte Avenue, Fort Collins, Colorado, on Tuesday, the 20th day of November , 1984 , at the hour of 5: 30 p.m. The following persons were present : Council Members: Gerald C. Horak , Mayor E. John Clarke , Assistant Mayor John B. Knezovich Nx=iAeA 1XyC&c>x Kelly Ohlson Barbara Rutstein Ed Stoner City Manager : John E. Arnold City Clerk : Wanda M. Krajicek The following persons were absent : William Elliott. Councilmember The Mayor informed the Council that Ordinance No. 160 1984 , which was introduced, approved on first reading , and ordered published once in full at the continuation of the Council' s adjourned regular meeting of October 16, 1984, held on October 30, 1984, was duly published in The Coloradoan , a newspaper of general circulation published in the City, in its issue of November 4, 1984. The Mayor further announced that, in accordance with Federal tax law relating to the Bonds, a notice of public hearing has been published once in The Coloradoan, a newspaper of general circulation in the City of Fort Collins, in its issue dated November 4, 1984. At or after 5: 30 p.m. , Council held a public hearing on the proposed Ordinance, including the issuance of the Bonds and the nature and location of the facilities to be financed therewith, and all interested persons present were heard by the Council. Council Member Knezovich then read said Ordinance by its title. -14- Thereupon, Council Member Knezovich moved the final passage of Ordinance No. 160 1984 . Council Member 0h1son seconded the motion, and the question being upon the final passage of said Ordinance, the roll was called with the following result : Council Members voting "AYE" : Gerald C. Horak E. John Clarke John B. Knezovich WI X)MMM Kelly Ohlson Barbara Rutstein Ed Stoner Council Members voting "NAY" : None The Mayor thereupon declared that a majority of the Council Members present having voted in favor thereof, the motion was carried and the Ordinance finally passed. Thereupon the Mayor ordered said Ordinance published by number and title only together with a notice of the final passage of the Ordinance in The Coloradoan , a newspaper of general circulation published in the City, within five (5) days after said final passage. After consideration of other business to come before the Council the meeting was adjourned. Mayor (CITY) City of Fort Collins , Colorado (SEAL) ATTEST: I"S -". Cit City of Fort Collins , Colorado -15- - STATE OF COLORADO ) COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS ) I , Wanda M . Krajicek , City Clerk of the City of Fort Collins , Colorado, do hereby certify that the attached copy of Ordinance No. 160 , 1984, is a true and correct copy; that said Ordinance was introduced and approved on first reading by the Council of the City of Fort Collins , Colorado, at the continuation of its adjourned regular meeting of October 16, 1984 , held at Council Chambers , City Hall, 300 LaPorte Avenue, Fort Collins , Colorado, the regular meeting place thereof, on Tuesday, the 30th day of October , 1984 ; that said Ordinance was finally passed on second reading by said Council at its regular meeting , held at Council Chambers , City Hall, 300 LaPorte Avenue , Fort Collins , Colorado , the regular meeting place thereof , on Tuesday, the 20th day of November , 1984 ; that a true copy of said Ordinance has been authenticated by the signatures of the Mayor of said City and myself as City Clerk thereof , sealed with the seal of the City, and numbered and recorded in a book marked "Ordinance Record" kept for that purpose in my office ; and that said Ordinance was duly published once in full together with a notice giving the date when said Ordinance would be presented for final passage and a notice giving the date of public hearing and once by number and title only together with a notice of the final passage thereof in The Coloradoan, a newspaper of general circulation published in the City, in its issues of November 4 , 1984 , and November 26, 1984 , as evidenced by the certificates of the publisher attached hereto at pages 17 and 18. I further certify that the foregoing pages 1 through 15, inclusive, constitute a true and correct copy of the record of the proceedings of said Council at its aforesaid meetings , insofar as said proceedings relate to said Ordinance ; that said proceedings were duly had and taken, that the meetings were duly held; and that the persons were present at said meetings as therein shown. IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the City of Fort Collins, Colorado, this 26thday of November , 1984 . (CITY) CityF Clerk �� r (SEAL) City of Fort Collins , Colorado -16- STATE OF COLORADO ) COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS ) (Attach affidavit of publication in full of Ordinance and notice giving date when Ordinance to be presented for final passage. ) -17- The Coloradoan STATE OF COLORADO COUNTY OF LARIMER )ss. AFFIDAVIT OF PUBLICATION Terese R. Anderson being first duly sworn upon oath, deposes and says: That said is the Legal dark of The Coloradoan; that said has personal knowledge of all facts set forth in this affidavit; that The Coloradoan is a public daily newspaper of general circulation, having its principal office and place of business situated in said County of Larimer; that said Coloradoan is printed and published daily; that said Coloradoan is a daily newspaper, duly qualified for the purpose set forth within the meaning of Chapter 109, Article 1, Sections 1-1 to 1-8 inclusive of Colorado Revised Statutes 1973, and any amendment thereof passed prior to the date hereof; that said newspaper had, prior to January 1, 1936, and has ever since said date been admitted to the United States Mails as second class matter under the provisions of the Act of March 3, 1879, and any amendments thereof, that said newspaper is printed in whole in said County of Larimer and has a general circulation therein; that said newspaper has been so printed and published as a public daily newspaper of general circulation in said County of Lar- imer, uninterruptedly and continuously, during the period of more than fifty-two consecu- tive weeks next prior to the first issue thereof containing the annexed legal notice of advertisement; that said annexed legal notice or advertisement was published in the regular and entire editions of said newspaper for successive w3mkxx x day that the first publication of said legal othce or advertisement was in the regular and entire edition of said newspaper on thet day of November , A.D. 1984; that the last publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 4th _ day of November , A.D. 19 84, and that copies of each number of said paper in which said notice or advertisement was published were delivered by carriers or transmitted by mail to each of the subscribers of said paper, according to the accustomed mode of business in this office. Z-94 Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado this 4th day of Wo—ber — A.D. 19 84 Ga CoTu. My commission expires 121211ive,CsKe fort Notary Public Delivered to City Clerk STATE OF COLORADO ) COUNTY OF LARIMER ) ss. CITY OF FORT COLLINS ) (Attach affidavit of publication of Ordinance by number and title only and notice of final passage thereof. ) -16- The Coloradoan STATE OF COLORADO 1 COUNTY OF LARIMER )ss. AFFIDAVIT OF PUBLICATION I Terefie �An' --_� being first duly sworn upon oath, deposes and says: That said is the ""Legal Clerk of The Coloradoan; that said has personal knowledge of all facts set forth in this affidavit; that The Coloradoan is a public daily newspaper of general circulation, having its principal office and place of a ; business situated in said County of Larimer; that said Coloradoan is printed and published 'T oR AUee daily; that said Coloradoan is a daily newspaper, duly qualified for the purpose set forth FF T within the meaning of Chapter 109, Article 1, Sections 1-1 to 1-8 inclusive of Colorado coas Revised Statutes 1973, and any amendment thereof passed prior to the date hereof; that FIR said newspaper had, prior to January 1, 1936, and has ever since said date been admitted to T,;E4 the United States Mails as second class matter under the provisions of the Act of March 3, FOR 1879, and any amendments thereof, that said newspaper is printed in whole in said County FR , of Larimer and has a general circulation therein; that said newspaper has been so printed SO «''. .:• ' ` and published as a public daily newspaper of general circulation in said County of Lar- T' imer, uninterruptedly and continuously, during the period of more than fifty-two consecu- �F yINT fWTr" tive weeks next prior to the first issue thereof containing the annexed legal notice of T¢oN A advertisement; that said annexed legal notice or advertisement was published in the ; r SOR. regular and entire editions of said newspaper for Tuvcc TX Z TM F 7 F _ 1 successive weeks-on-- day of-eae#+ saeaessi-ve week; that the T1 a first publication of said legal notice or advertisement was in the regular and entire edition P of said newspaper on the 26 t h day of November , A.D. 1984; that the last A` a publication of said legal notice or advertisement was in the regular and entire edition of N said newspaper on the 26 t h day of November A.D. 1944_, and that `� v u* so copies of each number of said paper in which said notice or advertisement was published "a were delivered by carriers or transmitted by mail to each of the subscribers of said paper, rHE according to the accustomed mode of business in this office. THE cowaxR IR FO j / !NOF is N eER4SERd F OA.- T Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado A this -- 96 t h day of Nov e.p h e r A.D. 19.8.4 °P ' Nov «c " s ', Fort Ca"!7 , CO £.,52^ My commission expires Notary Public l')elivered to City Clerk r y ORDINANCE NO. 160 , 1984 AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF POLLUTION CONTROL REVENUE BONDS (ANHEUSER-BUSCH COMPANIES PROJECT) , SERIES 1984 , IN THE AGGREGATE PRINCIPAL AMOUNT OF $35 , 000, 000 AND THE EXECUTION AND DELIVERY OF A POLLUTION CONTROL FACILITIES FINANCING AGREEMENT, A TRUST INDENTURE, AND A BOND PURCHASE AGREEMENT RELATED THERETO; MAKING CERTAIN DETERMINATIONS WITH RESPECT THERETO; PROVIDING FOR THE PRINCIPAL AMOUNT, NUMBERS , PROVISIONS FOR REDEMPTION AND MATURITY OF, AND RATES OF INTEREST ON, THE BONDS ; REQUESTING THE TRUSTEE TO AUTHENTICATE THE BONDS ; AUTHORIZING INVESTMENTS ; AUTHORIZING INCIDENTAL ACTION; ORDERING A PUBLIC HEARING; AND REPEALING INCONSISTENT ACTIONS. READ, ADOPTED ON SECOND READING, AND ORDERED PUBLISHED ONCE BY NUMBER AND TITLE ONLY this 20th day of November , 1984 . CITY OF FORT COLLINS, COLORADO 44 (CITY) Ma or (SEAL) ATTEST: �p City Clerk (23 -19-