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HomeMy WebLinkAbout165 - 11/20/1984 - AUTHORIZING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS (OPERA HOUSE BLOCK BUILDING PROJEC 4462A 10/25/84 CERTIFIED RECORD OF PROCEEDINGS OF THE COUNCIL OF THE CITY OF FORT COLLINS , COLORADO RELATING TO AN ORDINANCE AUTHORIZING THE ISSUANCE OF ITS INDUSTRIAL DEVELOPMENT REVENUE BONDS (OPERA HOUSE BLOCK BUILDING PROJECT) SERIES 1984 DATED DECEMBER 1, 1984 IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,200,000 Ord 165 , 198y 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 Elliott introduced the following Ordinance, authorizing the issuance of the City of Fort Collins Industrial Development Revenue Bonds , (Opera House Block Building Project) , Series 1984, in the principal amount of $3,200,000 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 : I -1- ORDINANCE No. 165, 1984 AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS (OPERA HOUSE BLOCK BUILDING PROJECT) , SERIES 1984 , IN THE AGGREGATE PRINCIPAL AMOUNT OF $3, 200 , 000 AND THE EXECUTION AND DELIVERY OF A FINANCING AGREEMENT, A TRUST INDENTURE, AND A PLACEMENT AGENT 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 projects to promote industry and develop trade or other economic activity; and WHEREAS , the Issuer has been requested to enter into a Financing Agreement dated as of December 1 , 1984 (the "Financing Agreement") with Opera House Block Building, Ltd. , a Colorado limited partnership (the "Owner") , to finance the purchase of certain land and the purchase, renovation and expansion of certain commercial facilities thereon in the City of Fort Collins (the "Project") by the issuance of $3,200,000 in aggregate principal amount of bonds to be known as Industrial Development Revenue Bonds (Opera House Block Building Project) , Series 1984 (the "Bonds" ) to be issued pursuant to a Trust Indenture dated as of December 1, 1984 (the " Indenture" ) to United Bank of Boulder , a Colorado banking corporation, as Trustee (the "Trustee" ) ; and WHEREAS, by Resolution 84-159, adopted on October 2 , 1984, the Council of the City of Fort Collins, Colorado (the "Council" ) induced the Project by authorizing the Issuer , subject to the provisions thereof , to take all necessary and advisable steps to effect the issuance of the Bonds in the u 2 • maximum aggregate principal amount of $ , 650000 , and WHEREAS , the Owner has sought , and the Council is willing to agree to, an increase in the maximum principal amount of the Bonds to $3, 200, 000; and WHEREAS , the Bonds will be issued, sold and delivered by the Issuer to purchasers obtained on a best efforts basis by United Bank of Denver National Association, as the placement agent (the "Placement Agent") , pursuant to a Placement Agent Agreement , -2- dated as of December 1, 1984 (the "Private Placement Agreement") , among the Issuer , the Placement Agent and the Owner , 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 , concurrently with the issuance of the Bonds, United Bank of Fort Collins N.A. or other financial institution or institutions acceptable to the Issuer (the "Bank") will issue an irrevocable standby letter of credit (the "Letter of Credit") pursuant to a Reimbursement Agreement dated as of December 1, 1984 (the "Reimbursement Agreement") among the Bank, the Trustee and the Owner , to enable the Trustee to draw upon such Letter of Credit in the event the Owner fails to make payments of principal under the Financing Agreement; and WHEREAS , the Issuer has considered the Owner '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; 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. 84-159 , adopted October 2, 1984 , 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 PRIVATE PLACEMENT AGREEMENT. The forms of the Financing Agreement, the Indenture and the Private Placement 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 Owner) , 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; -3- (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 Trustees; and (g) The rights and remedies available in case of a default to the Bond owners or to the Trustee under the Financing Agreement 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 maintainenance and insurance of the Project. Section 3. ISSUANCE OF BONDS. The issuance of the Bonds in the increased amount of $3 ,200,000 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 Placement Agent for delivery to the purchasers of the Bonds pursuant to the Placement Agent Agreement against receipt of the purchase price as specified therein, plus any accrued interest due, and to with the Trustee as provided in deposi t the amount so received the Indenture. Section 4 . TERMS OF BONDS. The Bonds shall be in the aggregate principal amount of $3 ,200 ,000, shall be dated as of the actual date of issuance and delivery or as otherwise -4- provided in the Indenture , shall be issued as fully registered bonds in the denominations authorized by the Indenture, shall mature December 1, 2009, and shall bear interest payable 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 shall not exceed 20%. 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. Prior to June 1, 1985, the Bonds shall bear interest at the rate per annum of percent ( %) and from and including June 1, 1985 to and including November 30, 1989 and from and including December 1 in any calendar year, commencing December 1, 1989, to and including November 30 of the next succeeding calendar year ("Rate Period") , the Bonds shall bear interest at the rate which is certified to the Trustee by United Bank of Denver National Association, as Remarketing Agent or its successors or assigns (the "Remarketing Agent" ) under a Remarketing Agreement dated as of December 1, 1984 (the " " t Owner, the Trustee and the Remarketing Agreement" ) among he , Remarketing Agent, as the rate which the Remarketing Agent anticipates will result in the Bonds having a market value as of the commencement of such Rate Period which approximates, as nearly as practicable, their par value, provided that the interest rate so determined shall not be more than 120% nor less than 80% of the Index (as defined in the Indenture) as of April 15, 1985 or the November 1 next preceding the Rate Period for which the interest rate is to be determined. Anything in this bond, the Remarketing Agreement or the Indenture to the contrary, in no event shall the rate of interest hereon, determined as described above, exceed 20% per annum. The computation and determination of the interest rates by the Remarketing Agent shall be conclusive and binding upon the Issuer, the Trustee, the Owner 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 the Owner 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 amounts necessary in each year to pay the principal of and interest on the Bonds are as follows: -5- redemption of the Bonds , an amount equal to the interest which shall accrue on the outstanding Bonds over ten (10) months at the rate then applicable to the Bonds ; and (c) the amounts necessary in each year to pay the principal of and interest on the Bonds are as follows: YEAR PRINCIPAL INTEREST TOTAL 1985 $640,000 $640,000 1986 640, 000 640, 000 1987 $ 35,000 640, 000 675,000 1988 40, 000 633, 000 673, 000 1989 45,000 625,000 670, 000 1990 50, 000 616, 000 666, 000 1991 55,000 606,000 661,000 1992 60, 000 595, 000 655, 000 1993 65, 000 583, 000 648,000 1994 75, 000 570, 000 645, 000 1995 85,000 555, 000 640,000 1996 90, 000 538, 000 628, 000 1997 100,000 520, 000 620, 000 1998 110, 000 500, 000 610, 000 1999 125,000 478, 000 603,000 2000 135, 000 453, 000 588, 000 2001 150,000 426,000 576,000 2002 170, 000 396, 000 566, 000 2003 185,000 362, 000 547, 000 2004 205, 000 325, 000 530, 000 2005 230,000 284 , 000 514, 000 2006 255, 000 238, 000 493, 000 2007 280, 000 187, 000 467,000 2008 310, 000 131 , 000 441, 000 2009 345,000 69, 000 414, 000 The amounts necessary to pay principal and interest are computed on the assumptions that the entire principal amount is advanced on the date of issuance and that the interest rate on the Bonds will be the maximum permitted under the terms of the Indenture. Section 6. AUTHENTICATION OF BONDS. The Trustee is hereby requester 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. -6- 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. 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 $3,200,000, FOR THE PURPOSE OF FINANCING THE PURCHASE OF CERTAIN LAND AND THE PURCHASE, RENOVATION AND EXPANSION OF CERTAIN BUILDINGS THEREON TO BE OWNED AND OPERATED BY OPERA HOUSE BLOCK BUILDING, LTD. , A COLORADO LIMITED PARTNERSHIP, TO BE LOCATED AT 117-131 NORTH COLLEGE AVENUE 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. -7- INTRODUCED, READ, APPROVED ON FIRST READING , AND ORDERED PUBLISHED ONCE IN FULL THIS 30th day of October , 1984 . CITY OF FORT COLLINS , COLORADO By. L (CITY) Mayor (SEAL) ATTEST: r City Clerk A public hearing will be held and the foregoing Ordinance 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. -8- 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: City Clerk -9- Council Member Fllintt moved that the foregoing Ordinance heretofore introduced and read by title be approved on first reading . Council Member Clarke 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" : XXdIlE&WXCXXXQ;Qlik Xd( E. John Clarke U USXV(MXXMx0fta I William Elliott Kelly Ohlson Barbara Rutstein Ed Stoner Council Members voting "NAY" : Gerald C. Horak John B. Knezovich 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. L Mayor (CITY) City o Fort Collins , Colorado (SEAL) ATTES(�T: ((�� �� Ai�eaY� City Clerk City of Fort Collins, Colorado -10- 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 ' vdii3-'ram-Ott iatt 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. 165 , 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 Stoner then read said Ordinance by its title. -11- 1 � • Thereupon, Council Member Stoner moved the final passage of Ordinance No. 165 , 1984. Council Member Clarke seconded the motion, and the question being upon the iinal passage of said Ordinance, the roll was called with the following result : Council Members voting "AYE" : Sera id--ez-+fo-rak- E. John Clarke F,ah n-$-.--K rreee aie4* Kelly Ohlson Barbara Rutstein Ed Stoner Council Members voting "NAY" : Gerald C. Horak John B. Knezovich 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 of Fort Collins , Colorado (CITY) (SEAL) ATTE ST: City Clerk City of Fort Collins , Colorado -12- 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. 165 , 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 December 8 • 1984 , as evidenced by the certificates of the publisher attached hereto at pages 14 and 15. I further certify that the foregoing pages 1 through 12, 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 l ay of December , 1984 . (CITY) City Clerk (SEAL) City of Fort Collins , Colorado -13- 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. ) -14- The Coloradoan STATE OF COLORADO ) )ss. AFFIDAVIT OF PUBLICATION COUNTY OF LARIMER ) T n Anderson being first duly sworn upon oath, deposes and says: That said is the Legal Cie rk 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 1 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, anA 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 _ 1 successive weeks-an day o€eaoh suoeess}ve week that the first publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 4t h 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 4 t h day of November , A.D. 1984, 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. A-03 Subscribed and sworn to before me, at and within the County of Larimer, State of Colorado this _ 4t.h—_ day of November -- I A.D. 19 84_. My Comnmftson Expires Ar t 15, 190 My commission expires Notary Public Delivered to -C At Y C I e r k _— .-- 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. ) -15- The Coloradoan STATE OF COLORADO I COUNTY OF LARIJfER Iss. AFFIDAVIT OF Pi'BLICATIO\ � - _—Terese_ R. Anderson---- - _ . being first duly sworn upon oath, deposes and says: That said is the ._-Legal Clerk- __ _. _ ___ _. _. _. _. .___ of The Coloradoan: NOTICE IS HEREBY GIVE that said has personal knowledgeof all facts set forth in this affidavit; that The Coloradoan on T,.,so 'No�ernee:T N, 196 is a public daily newspaper of general circulation, having its principal office and place of ortlnances on seconsea no adotedd eadi giI business situated in said County of Larimer; that said Coloradoan is printed and published ORDINANCE NO. Ibt, 19N AN NANCEdaily; that said Coloradoan is a daily newspaper, duly qualified for the purpose set forth THE RI SUANCER OF TINOUTRIAL DEVELOPMENT REV within the meaning of Chapter 109, Article 1, Sections 1-1 to 1-8 inclusive of Colorado NUE BONDS UNDER THE PRI Revised Statutes 1973, and any amendment thereof passed prior to the date hereof; that VISIONS OF COUNTY AND THEN OLOR IDT said newspaper had, prior to January 1, 1936, and has ever since said date been admitted to DEVELOPBON CTMENTPRO R V Fo the I'nited States Mails as second class matter under the provisions of the Act of ]larch 3, THE OF FOORT COALLINs COLC RADO, INDUSTRIAL DEVEI 1879,, an any amendments thereof, that said newspaper is printed in whole in said County OPMENT REVENUE BOND' SERIES 1984 (THE COMRIDG of Larimer and has a general circulation therein; that said newspaper has been so printed PROJECT) IN THE PR NCIPAi and published as a public daily newspaper of AMOUNTOFsl.500,OBBFOR TH' general circulation in said Count of Lar- PURPOSE OF LOANING FUND 1mer, uninterruptedly and continuously, during the period of more than fifty-two COnsP.0 ll- TO COMRIDGE TO FINANOIMPROVEMENTS RELATINI five weeks next prior to the first issue thereof containing the annexed legal notice of IN TO AND EQUIPPIMPROVINC NI OF AN OFFadvertisement; that said annexed legal notice or advertisement was published in the FACTURINGCBUAILDI cA"1 regular and entire editions of said er news a for FORT COLLINS, LARIMEI newspaper COUNTY, COLORADO APPROVING AND AUTHOR12 ING THE EXECUTION ANI ASSIGNMENT OF A LOAI AGREEMENT AND NOTE BETWEEN COMRIDGE AN( THE CITY;ANDAUTHORIZIN( THE PREPARATION AND EXE successive wee-Its-on- _ day CUTION OF CERTAII --u.1 of-eac#I-sue eessive-wLeek= that the INSTRUMENTS. UMENTS ANI first publication of said legal notice or advertisement was in the regular and entire edition of said newspaper on the 8 t h da of December ORDINANCE NO. 163, 19U Y A.D. 19 84; that the last AN ORDINANCE RELATING T( THE ISSUANCE OF INDUS publication of said legal notice or advertisement was in the regular and entire edition of TRIAL DEVELOPMENT REVE said newspaper on the 8 t h day of December A.D. 1984, and that VISIONSS"OOF THE COLORAD( copies of each number of said paper in which said notice or advertisement was published COUNTY AND MUNICIPALITY p p p DEVELOPMENT AND REVENUE were delivered by carriers Or transmitted by mail to each Of the subscribers of said paper, THE ISSUANCE ANDD SALE OF according to the accustomed mode of business in this office. RADOD,FIFORT COLLINTRIL ,COLO EVEL OPMENT REVENUE BONDS 8-70 SERIES 19" THE CORPORATION PROJECT) IN THE PRINCIPAL AMOUNT OF $2.001E FOR THE PURPOSE OF LOANING FUNDS TO SYN GENE CORPORATION TC FINANCE Y` RELATING IMPROVEMENT! RCONSTIRUCT ING. IMPROVING, INSTALL ING AND EQUIPPING OF AN OFFICE,RESEARCH,LABORA TORY AND MANUFACTURING BUILDING IN FORT COLLINS, LARIMSubscribed and sworn to before me, at and within the County of Larimer, State of Colorado RADO E APPROVING R COUNTY, C AND this 8th da Of AUTHORIZING THE EXECU Y December A.D. 19_84-_, TION AND ASSIGNMENT OF LOAN AGREEMENT AND I -C`) My commission expires / Notary Public 1 Delivered to C i t y C l e r k ORDINANCE NO. 165 , 1984 AN ORDINANCE AUTHORIZING AND DIRECTING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS (OPERA HOUSE BLOCK BUILDING PROJECT) , SERIES 1984, IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,200, 000 AND THE EXECUTION AND DELIVERY OF A FINANCING AGREEMENT, A TRUST INDENTURE, AND A PLACEMENT AGENT 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 (CITY) May (SEAL) ATTEST: City Clerk -16-