HomeMy WebLinkAbout1983 Resolution No. 042RESOLUTION NO. L/Ji
SERIES OF 1983
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A RESOLUTION AUTHORIZING THE SALE OF THE
CITY'S INDUSTRIAL DEVELOPMENT REVENUE 130NDS {SAFE-
WAY STORES, INCORPORATED PROJECT) SERIES 1983 ;
PRESCRIBING CE RT AI N DETA I LS CONCE RNING SAID BON DS;
RATIFYING THE FORM OF THE INDENTURE OF TRUST, THE
LOAN fG REEMENT, THE INDUCEMENT LETTER, THE FINAL
OFFIC l AL STATEMENT AND THE BOND PURCHASE AGREEMENT
TO BE EXECUTED IN CONNECTION THEREWITH AND OTHER
MATTERS; AND PROVIDING THE EFFECTI VE DATE 0 5' THIS
RESOLUTION.
WHEREAS, the City of Englewood, Colorado {the "C ity")
has previously &ttthor ized by ordinanc e th e issua11ce of it~
.. i-. _ Development Re v enue Bond s ( Safeway SLorc s 1
,,,;,.;,,-, Pr oje:cc ) Series 1983 {the "B onds") pur s uan t to
c .. u Co unty and Mu n:c ipali ty Revenue Bond Act , article 3 ,
t itle 29 , C .R.S. 19 7 3, as amended; and
WHEREAS, the City now des i r es to sell the Bonds; and
WHEREAS, certain details o f the Bonds are requ ired to
be set h ereby.
NOrl, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
7HE C~Tl OF ENGLEWOOD, COLORADO:
Section l. The Bo nds are h ereby sold to George K.
Baum & Comp a ny ( t he "Underwrit e r"), at a price of 97 . 00% of
the principdl amount thereof plus a ccrued inter est to the
date of delivery , all pursu ant to the Bond Purch ase
Agreement, dated August 15 , 1983 (the "Bond Purcha se
Agreement").
Secti on 2. The Bonde shall be dated as provided i n
t he Inde ntu:::e of Tr u st d a t e d as o f August l, 1983 ( the
"Indenture") betw e en thJ City and Intr aWeet Bank of·Denve r,
N.A ., Denve r, Colorado , as trust ee (the "Trustee "), and
shal l be issued in the pri ncipa l a mo u nt of $4,500 ,000 . The
Bo nds shall bear i nte rest from their respect i ve dates until
t heir r e s pec tive maturities , payable on Augu s t l and
February l of each yea r, c ommen c i n g Februa r y :. , : )9'1 The
Bonds shall mature on August l of eac h year in the .11 .. cunts
a nd on the daces , and sh all b e ar int erest a t the rates per
a:.:1u~, s~c for t h be low :
Princi pa l I nlercst ~-:: i:.. ! Amount Rate
1987 100 ,000 8 .000% 19 88 100,000 8 . 25 0 1989 100,000 8 .500 1990 100,000 8 . 750 1991 100 ,000 9 .000 1992 150,000 9 .250 1993 150 ,000 9 .500 2003 3 ,700,000 10 .625
The Bon ds shall be p ay ab le, s ha ll be subject to
redemption and shall be is s ued in ac c ord a n ce with the t e rms
and conditions set fo r th in the Indenture. The maximum ne t
effective int erest rate on t h e Bo nd s is 10.479% per annum.
L'~. The amo u nt required to pay d ebt s;rv i ce on
the Bonds i s set for th i n Exh ibit A a ttached h ereto , and
Safeway S tores, I ncorpora ted (the "c omp an y "), a Mar yland
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corpo ration , is obligated to pay such amount to the Ci t,y
under the terms of a Loan Agreement dated as·of Augu st l,
1983 (the "Agreement").
Section 4. The forms, terms and provisions of the
Inducement Letter among the City, the Company and the
Underwriter, da ted as of Augu st 15, 1983 (the "Inducement
Letter"), the Agreement , the Indenture, the Bonds, the final
Official Statement (the "Official Statement") and the Bond
Purchase Ag:11ement be, and the y hereby are, approved, and
the Issuer shall enter into the Inducement Letter , the Loan
h g .·eement, the Indenture and the Bond Purchase Agreement,
and shall exe cu c~ the final Offici al Statement,
su b::tanri~,ll y i nt.he forms of each of s uch documents
:'.t•ci r1·~ t hi s meeting but wi t h s uch ud n or cl,,,n c.JC S
11 1 .:~s aro c:i;n ~i stcnt. he :r ew1th and as t he orficc r s of
the Is suer executing such documents shall approve, their
execution thereof being deem c1 co nc lusive of ~n e ir approva l
o f any such changes; and the Ma yor of the Issuer is hereby
authorized and dire cted to execute and deliver such
documents and the City Clerk is hereby authorized and
directed to a ffi x the seal of the I s s uer to, and to attest,
such document s in substantially t he forms of each of such
documents pre s en ted at this meeting. The City ratifies the
Uhd erwriter's use of the Preliminary Official Statement
dated August 4, 1983, and authorizes the Underwriter to use
the final Official Statement in connection with the sale of
the Bonds.
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Se ction 5, If .any section, paraqraph, clause or.
provision of this resolution shall for any reason be held to
be invalid or unenforceable, the invalidity or
unenforceability of such section, paraqraph, clause or
provision s hall not affect any of the remaining prov isions
of thi s resolution.
Section 6. This resolution shall take effect
immediately upon its introduction and passage ,
APPRO VED AND ADOPTED this 15th day of August 1983.
!SEAL)
Attest :
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I
STATE OF COLORADO
CO UN TY OF ARAPAHOE ss.
CITY OF ENGLEWOOD
I , Gary R. Higbee , Ex Office City Clerk/Treasurer of
the City of Englewood, in the County of Ar apahoe and State
o f Colorado, d , hereby certify that the above and foregoing
resolution is a tru e and correct copy of Reso luti on No .
,f J,, Series 1983 introduced and read in full a t the City
Council meeting held on '.he 15th day of August 1983, and
finally passed, wi t l,o ut amendment.
X Ofco City~rk/
Treasurer
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EXHIBIT A
TO RESOLUTION NO.
ADOP TE D BY THE CITY COUNC IL OF
THE: r: .• ·Y GF ENCLEWOOD, COLORADO
SEE ATTACHED
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Cl l'\' IIF rHl;I.F.WOOD1 COLOf!AVII UAfl:WAY l'RUJFCT -TOTAL O I U3 DEL DAlE
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011 /(11 /0~
02/01/115
01110110:1
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llU OJ/~8
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011 /01/09
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,
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231 I 0]5,0(1
2.11, 1175 ,00
231, 1175,00
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231 I r.75,0(1
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156,7!8,7S
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:i 6, o'lll, 12
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'I.Y,750,00
29 • 750 , 00
TO T nL PU . AHHUnL D/S
2Jl,075,00
7.JI .tl75,00 163,750,00
231,375,00
n11117s ,oc, 1631750,00
2H, 375 ,00
'31,117:i,OO 163,750,00
2JI ,~7 5,00
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J271ll'l~.oo 5~51750,00
n.1, 7:iO, 00
3231750,00 547,500,00
2 19,500 ,00
3 191 :HI 0,00 ~39,000,00
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t.10, 62:i,OO
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0 5 ,:i l5,1,2 b!6,031,25
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102,79/,,11 7
5 !7,7?6,07 620,593,7~
80 ,7 50, 00
535,n,O,(l(I 6161500,00
:i6 ,~70,12
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5~~11 :;0,00 619,500,00
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AVE lrn nr C(IUP IIH
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