HomeMy WebLinkAboutMINUTES Estes Park Urban Renewal Authority 1989-11-09BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS
Special Meeting
Estes Park Urban Renewal Authority
"November 9, 1989
Commissioners:
Attending:
Also Attending:
Absent:
Charles H. Phares, J. Donald Pauley
Edward B. Pohl, Milt Ericson, Jim Godbolt
Pieter Hondius, Gary F. Klaphake
Vice-Chairman Pauley, Commissioners Pohl
Ericson, Klaphake
Jim Kreidle/Kirchner Moore & Co.
Virginia Kellogg/Kutak, Rock & Campbell
Attorney James A. Windholz
Attorney Gregory A. White
Executive Director Art Anderson
Secretary Heifner
Chairman Phares, Commissioners Godbolt, Hondius
Vice-Chairman Pauley called the meeting to order at 9:00 a.m.
Jim Kreidle/Kirchner Moore & Company distributed and explained
material regarding the $4,295 million bond issue. The bonds will
be issued at an average coupon rate of 7.55%. The Authority
received a Baal rating from Moody's Investors Service.
Director Anderson read a November 8, 1989 letter from Boudreaux and
Jackson noting the Pledged Revenues for the fiscal year ending
December 31, 1989 will be at least 135% of the average annual debt
service on the Outstanding Bonds and the Additional Bonds proposed
to be issued.
Director Anderson introduced into the record. Attorney Windholz's
notes regarding the Bond Purchase Agreement and Certified Record
of Proceedings.
Commissioner Pohl introduced Resolution No. 136:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE
ESTES PARK URBAN RENEWAL AUTHORITY AUTHORIZING,
APPROVING AND DIRECTING THE ISSUANCE, SALE AND
DELIVERY OF $4,295,000 IN AGGREGATE PRINCIPAL
AMOUNT OF "ESTES PARK URBAN RENEWAL AUTHORITY,
(ESTES PARK, COLORADO), TAX INCREMENT REVENUE BONDS
SERIES 1989," TO FINANCE CERTAIN ACTIVITIES AND
UNDERTAKINGS OF THE ESTES PARK URBAN RENEWAL
AUTHORITY IN CONNECTION WITH AN URBAN RENEWAL
PROJECT UNDERTAKEN PURSUANT TO THE "ESTES PARK
DOWNTOWN REDEVELOPMENT PROGRAM," AUTHORIZING,
APPROVING AND DIRECTING THE EXECUTION AND DELIVERY
BY THE AUTHORITY OF SUCH BONDS, A FIRST SUPPLEMENTAL
INDENTURE OF TRUST, A BOND PURCHASE AGREEMENT AND
CERTAIN AGREEMENTS AND DOCUMENTS IN CONNECTION
THEREWITH; AUTHORIZING AND APPROVING THE
DISTRIBUTION AND USE OF AN OFFICIAL STATEMENT IN
CONNECTION THEREWITH; RATIFYING AND CONFIRMING THE
DISTRIBUTION OF A PRELIMINARY OFFICIAL STATEMENT IN
CONNECTION THEREWITH; APPOINTING A TRUSTEE;
APPROVING THE FORM OF CERTAIN ANCILLARY DOCUMENTS;
AND REPEALING ANY ACTION HERETOFORE TAKEN IN
CONFLICT HEREWITH.
BRADFORD PUBLISHING CO.RECORD OF PROCEEDINGS
Estes Park Urban Renewal Authority - November 9, 1989 - page two
Commissioner Pohl then moved that, with the inclusion of EPURA
counsel1s written comments and the letter from Boudreaux and
Jackson, CPA's, the Resolution be passed and adopted. Commissioner
Ericson seconded the motion. The question being upon the passage
and adoption of the Resolution, the roll was called with the
following result:
Those Voting Yes:
J. Donald Pauley
Edward B. Pohl
Gary F. Klaphake
Milton Ericson
Vice Chairman
Commissioner
Commissioner
Commissioner
Those Voting No:
NONE
Those Absent:
Charles H. Phares
Jim Godbolt
Pieter Hondius
Chairman
Commissioner
Commissioner
Thereupon the Vice-Chairman of the Board of Commissioners declared
said motion carried and the Resolution duly passed and adopted.
Commissioner Klaphake moved the Bond Purchase Agreement,
authorizing Kirchner Moore & Company and Boettcher & Company, Inc.
to purchase $4,295,000 aggregate principal amount of "Estes Park
Urban Renewal Authority Tax Increment Revenue Bonds, Series 1989"
be approved. Commissioner Pohl seconded the motion and it passed
unanimously.
There being no further business to come before the Board, Vice-
Chairman Pauley adjourned the meeting at 9:45 a.m.
Donna Heifner, Secretary