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HomeMy WebLinkAbout1983-031-02/01/1983-A RESOLUTION PROVIDING FOR THE ISSUANCE OF CITY OF FORT COLLINS, COLORADO, POLLUTION CONTROL AND SEW CERTIFIED RECORD OF PROCEEDINGS OF THE COUNCIL OF THE CITY OF FORT COLLINS, COLORADO RELATING TO A RESOLUTION PROVIDING FOR THE ISSUANCE OF ITS POLLUTION CONTROL AND SEWAGE AND SOLID WASTE DISPOSAL REVENUE BONDS (ANHEUSER-BUSCH, INCORPORATED PROJECT) SERIES 1983 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 lst day of February, 1983 , at the hour of 5 30 p m The following persons were present Council Members Gary Cassell, Mayor John Knezovich, Assistant Mayor E John Clarke William Elliott Gerald Horak Norman Miller Elery Wilmarth City Manager John Arnold City Clerk Wanda Kra3icek The following persons were absent None Council Member Knezovich introduced the following Resolution, which was read by title, copies of the full Resolution having been available in the office of the City Clerk at least forty-eight (48) hours prior to the time said Resolution was introduced for each Council Member and for inspection and copying by the general public -1- RESOLUTION 83- 31 A RESOLUTION PROVIDING FOR THE ISSUANCE OF CITY OF FORT COLLINS, COLORADO, POLLUTION CONTROL AND SEWAGE AND SOLID WASTE DISPOSAL REVENUE BONDS (ANHEUSER-BUSCH, INCORPORATED PROJECT) , SERIES 1983 , FOR THE PURPOSE OF AMELIORATING AND CONTROLLING POLLUTION AND PROVIDING MORE ADEQUATE FACILITIES FOR DISPOSING OF SEWAGE AND SOLID WASTE AND AUTHORIZING THE PREPARATION OF DOCUMENTS AND INSTRUMENTS RELATING THERETO WHEREAS, the City of Fort Collins, Colorado (the Municipality) , acting through its Council (the Council) , is authorized by the provisions of part 1 of article 3 of title 29 , Colorado Revised Statues 1973 , as amended (the Act) , to finance, refinance , acquire , own, lease , improve , and dispose of properties to the end that pollution may be ameliorated and controlled and that more adequate facilities for disposing of sewage and solid waste may be provided, and the Municipality is further authorized thereby to issue revenue bonds for the purpose of defraying the costs of financing, refinancing , acquiring , improving , and equipping such facilities, and WHEREAS, Anheuser-Busch, Incorporated, a Missouri corporation (the Company) , proposes to acquire, construct, and install a pollution control and sewage and solid waste disposal facility (the Project) , located within , or within eight miles from the nearest point of the corporate limits of, the Municipality, in connection with its manufacturing and industrial enterprise in the Municipality, and WHEREAS , the Company has represented to the Municipality that the Project will be designed to qualify as a "project" within the meaning of the Act, and -2- WHEREAS, the Company has requested the Municipality to issue and sell its revenue bonds (the Bonds) pursuant to the provisions of the Act for the purpose of financing the Project, and WHEREAS, the Municipality considers that the financing of the Project will ameliorate and control pollution , will provide more adequate facilities for disposing of sewage and solid waste , and will promote the public health, welfare and safety of the Municipality and its citizens, and WHEREAS, prior to the issuance of the Bonds the Municipality will consicer and approve by ordinance the final details of the Bonds and will authorize and approve, subject to the conditions of this Resolution, all acts and the execution of all documents and instruments necessary or desirable in connection with the issuance thereof BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT COLLINS, COLORADO, THAT Section 1 The Council hereby finds , intends , and declares that this Resolution shall constitute its official binding commitment to issue the Bonds, subject to the terms hereof and thereof, and that the adoption of this Resolution is and constitutes the taking of affirmative official action by the Municipality, acting by and through the Council, toward the issuance of the Bords Section 2 In order to insure the completion of the Project and the public benefit which is expected from the operation thereof, the Municipality, subject to the terms and conditions -3- of the Memorandum of Agreement between the Municipality and the Company attached hereto as Exhibit A (the Memorandum of Agreement) and by this reference made a part hereof , will issue the Bonds pursuant to the provisions of the Act in an aggregate principal amount necessary to pay the cost of financing the Project, together with the costs incident to the authorization, issuance , and sale of the Bonds , which Bonds will not exceed in aggregate principal amount the sum of $60 ,000 ,000 Section 3 The Bonds shall bear such interest rate or rates , be in such denominations, bear such date or dates , mature or become payable on such date or dates , be in such form, carry such registration privileges, be executed in such manner , be payable at such place , and be subject to such terms of redemption or prepayment consistent with the Act as shall be authorized and approved by ordinance of the Council adopted prior to the issuance of the Bonds Section 4 Any mortgage, trust indenture , deed of trust , lease, sublease, installment purchase agreement, loan agreement, security agreement, rental agreement, option to purchase , or other agreement or security device , or any combination thereof, entered into in connection with the financing of the Project (the Financing Agreements) , and any other documents relating to the Project and the Bonds shall also be authorized and approved prior to the issuance of the Bonds Section 5 The proceeds of the Bonds will be used to finance the Project The major components of the Project are -4- described in a schedule attached hereto as Exhibit B and by this reference made a part hereof Section 6 The Municipality will enter into mutually agreeable Financing Agreements with the Company with respect to the Project as more fully described in the Memorandum of Agreement Section 7 The form of the Memorandum of Agreement is hereby approved , and the Mayor and the City Clerk are hereby authorized and directed to execute the Memorandum of Agreement on behalf of the Municipality Section 8 The entire cost of financing the Project will be paid from the proceeds of the sale of the Bonds or from other Company funds None of the Bonds will be general obligations of the Municipality Neither shall any of the Bonds , including interest thereon, constitute a debt or indebtedness of the Municipality within the meaning of any provision or limitation of the Constitution or statutes of the State of Colorado or the Charter of the City or give rise to a pecuniary liability of the Municipality or a charge against its general credit or taxing powers. The Bonds shall be payable solely from and secured by a pledge of the revenues derived from and payable pursuant to the Financing Agreements. Section 9 Nothing contained in this Resolution or the Memorandum of Agreement shall constitute a debt or indebtedness of the Municipality within the meaning of the Constitution or statutes of the State of Colorado or the Charter of the City or -5- give rise to a pecuniary liability of the Municipality or a charge against its general credit or taxing powers INTRODUCED, READ, PASSED AND ADOPTED this 1st day of February, 1983 CITY OF FORT COLLINS, COLORADO (CITY) Mayor (SEAL) ATTEST City Clerk CS -6- Exhibit A MEMORANDUM OF AGREEMENT This Memorandum of Agreement is between the City of Fort Collins , Colorado (the Municipality) , a Colorado municipal corporation, and Anheuser-Busch, Incorporated, a Missouri corporation (the Company) 1 Preliminary Statement Among the matters of mutual inducement which have resulted in the execution of this Memorandum of Agreement are the following (a) The Municipality is authorized and empowered by part 1 of article 3 of title 29 , Colorado Revised Statutes 1973 , as amended (the Act) , to finance , refinance , acquire , own, lease , improve, and dispose of properties to the end that pollution may be ameliorated and controlled and that more adequate facilities for disposing of sewage and solid waste may be provided, to issue revenue bonds for the purpose of defraying the costs of financing, refinancing , acquiring , improving , and equipping such facilities , and to enter into agreements with respect to the financing of such facilities upon such terms and conditions as the Council (the Council) of the Municipality deems advisable (b) In order to provide such facilities , the Company proposes to acquire, construct, and install a pollution control and sewage and solid waste disposal facility (the Project) , located within, or within eight miles from -7- the nearest point of the corporate limits of , the Municipality, in connection with its manufacturing and industrial enterprise in the Municipality (c) The Municipality has indicated its willingness to proceed with the issuance of revenue bonds (the Bonds) as provided by the Act to finance the Project and has advised the Company that, subject to due compliance with all requirements of law and the obtaining of all necessary consents and approvals and to the happening of all acts, conditions, and things required precedent to such financing, the Municipality will issue the Bonds pursuant to the Act in an aggregate principal amount sufficient to pay the cost of financing the Project, together with the costs and expenses incident to the authorization, issuance, and sale of the Bonds , which Bonds will not exceed in aggregate principal amount the sum of $60 ,000 ,000 (d) The Municipality considers that the financing of the Project and the entering into of agreements relating to the Project, such as a mortgage , trust indenture , deed of trust, lease, sublease, installment purchase agreement, loan agreement, security agreement , rental agreement , option to purchase or other necessary documents (the Financing Agreements) with the Company with respect to the Project will ameliorate and control pollution, will provide more adequate facilities for disposing of sewage and solid waste , and will promote the public health, welfare and safety of the Municipality and its citizens -8- 2 Undertakings by the Municipality Subject to the foregoing Paragraph 1, the Municipality agrees as follows (a) It will issue or cause to be authorized the issuance of the Bonds pursuant to the terms of the Act in an aggregate principal amount sufficient to pay the cost of financing the Project, together with the costs incident to the authorization , issuance , and sale of the Bonds , which Bonds will not exceed in aggregate principal amount the sum of $60 ,000 ,000 (b) It will adopt or cause to be adopted such proceeaings and authorize the execution and delivery of such documents as reasonably may be necessary or advisaole for the authorization, issuance and sale of the Bonds , the financing of the Project, and the execution of the Financing Agreements with the Company and other documents relating to the Project and the Bonds as shall be authorized by the Act or other law and mutually satisfactory to the Municipality and the Company (c) The aggregate sums to be paid by the Company under the Financing Agreements shall be required to be sufficient to pay the principal of, interest on, and any premiums due in connection with the redemption or prepayment of the Bonds as and wnen the same shall become due (d) It will take or cause to be taken such other acts and aaopt such further proceedings as reasonably may be required to implement the aforesaid undertakings -9- (e) The Bonds shall provide that they shall be payable solely from and secured oy a pledge of the revenues derived from and payable pursuant to the Financing Agreements , that thev shall never constitute a debt or indebtedness of the Municipality within the meaning of any provision or limitation of the Constitution or statutes of the State of Colorado or the Charter of the City and that they shall not give rise to a pecuniary liability of the Municipality nor a charge against its general credit or taxing powers (f) In authorizing the issuance of the Bonds pursuant to this Memorandum of Agreement , the Municipality will make no warranty, either expressed or implied, that the proceeds of the Bonds will be sufficient to pay all costs of the Project 3 Undertakinas on the Part of the ComDanv Subject to the foregoing Paragraph 1 , the Company agrees as follows (a) The Company will acquire, construct, and install the Project (b) Prior to the delivery of the Bonds the Company will enter into the Financing Agreements with the Municipality under the terms of which the Company will obligate itself to pay to the Muncipality , whether from the proceeds of the Bonds or otherwise, sums sufficient in the aggregate to Day or reimburse the Municipality for all expenses incurred by it in connection with the authorization , issuance , and sale of the Bonds and the payment of the principal of, interest on, and any premium -10- due in connection with the redemption or prepayment of the Bonds as ana when the same shall become due and payable, all fees and expenses of any trustee for the benefit of the holders of the Bonds incurred under any trust indenture, all utility charges , taxes , assessments , casualty , and liability insurance premiums, any other expenses or charges relating to the ownership, use , operation , maintenance , occupancy and upkeep of the Project, and the Municipality 's industrial development revenue bond fee The Financing Agreements shall contain such other provisions as may be required by law and sucn other provisions as shall be mutually acceptable to the Municipality and the Company (c) It sill take such further action and adopt such further proceedings as may be required to implement the aforesaid undertakings 4 General Provisions (a) All commitments of the Municipality under Paragraph 2 hereof and of the Company under Paragraph 3 hereof are subject to the condition that on or before three years from the date of this Memorandum of Agreement (or such other date as shall be mutually satisfactory to the Municipality and the Company) the Municipality and the Company shall have agreed to mutually acceptable terms for the Bonds and the issuance, sale, and delivery thereof, and mutually acceptable terms and conditions of any Financing Agreements and other documents referred to in Paragraph 3 and the proceedings referred to in Paragraphs 2 and 3 hereof -11- (b) Prior to the issuance of the Bonds , there shall be a reasonable showing to the Municipality that the Company is capable of carrying out its financial obligations under the Financing Agreements. (c) If the events set forth in subparagraph (a) of this Paragraph 4 do not take place within the time set forth or any extension thereof and the Bonds are not issued and sold within such time , the Company agrees that it will reimburse the Municipality for all reasonable and necessary direct out-of-pocket expenses which the Municipality may incur arising from the execution of this Memorandum of Agreement and the performance of the Municipality 's obligations hereunder , and this Memorandum of Agreement shall thereupon terminate IN WITNESS WHEREOF, the parties have entered into this Memorandum of Agreement by their duly authorized officials or officers this day of Feoruary, 1983 CITY OF FORT COLLINS, COLORADO (CITY) By (SEAL) Mayor ATTEST City Clerk -12- ANHEUSER-BUSCH, INCORPORATED a Missouri corporation By (COMPANY) ( SEAL ) Title ATTEST Title -13- Exhibit B The major components of the proposed Project are presently contemplatea to be as follows Pollution Control Facilities Fabric Filters on Coal Handling System Cyclones and Fabric Filters on Ash Handling System Fabric Filters or Electrostatic Precipitators on Two Coal-Fired Boilers Ash Disposal Facilities Alcohol Distillation System Storm Water Runoff Collection System Sanitary and Process Wastewater Collection System Wastewater Monitoring Instrumentation Sewage and Solid Waste Disposal Facilities - Transmission Lines Pretreatment Facility Screening Neutralization Trickling Filters Clarifiers Sludge Handling Equipment and Disposal Facilities Wastewater Treatment Plant Sludge Handling Equipment Land Application Transmission Lines Screening Neutralization -14- 1,400 Acres of Land Wastewater Storage Facilities Irrigation System The cost of financing the Project is presently estimated to be $60,000,000 -15- Council Member Knezovich moved that the foregoing Resolution heretofore introduced and read by title be passed and adopted. Council Member Horak seconded the motion The question being upon the passage and adoption of the Resolution , the roll was called with the following results Council Members voting "AYE" Gary Cassell John Knezovich E John Clarke William Elliott Gerald Horak Norman Miller Elery Wilmarth 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 Resolution was duly passed and adopted After consideration of other business to come before the Council , the meeting was adjourned Mayor (CITY) City of Fort Collins, Colorado (SEAL) ATTEST A.. ne k City Clerk k1.1 - City of Fort Collins , Colorado -16- STNTE OF COLORADO ) COUNTY OF LARIMER ) ss CITY OF FORT COLLINS ) I , Wanda M Kra3icek , City Clerk of the City of Fort Collins, Colorado , do hereby certify that the attached copy of Resolution 1983- 31 is a true and correct copy, that said Resolution was introduced, read, passed and adopted by the Council of the City of Fort Collins, Colorado, at a regular meeting thereof , held at Council Chambers, City Hall , 300 LaPorte Avenue, Fort Collins, Colorado , the regular meeting place thereof , on Tuesday, the 1st day of February, 1983, and that a true copy of said Resolution 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, recorded, and kept in my office I further certify that the foregoing pages 1 through 16 , inclusive, constitute a true and correct copy of the record of the proceedings of said Council at its aforesaid meeting, insofar as said proceedings relate to said Resolution, that said proceedings were duly had and taken, that the meeting was duly held, and that the persons were present at said meeting as therein shown IN WITNESS WHEREOF, I have hereunto set my hand and the seal of the City of Fort Collins, Colorado , this 1st day of February, 1983 (CITY) City Clerk (SEAL) City of Fort Collins, Colorado - 17-