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Council approves $115M certificates of participation, creates West Greeley fund
Summary
The City of Greeley approved issuing Certificates of Participation and a second supplemental appropriation to fund predevelopment for the West Greeley arena, ice center, hotel and water park project, creating a dedicated West Greeley fund and authorizing phased COP draws up to $115 million.
Greeley City Council on May 20 approved an ordinance to issue certificates of participation (COPs) and a supplemental appropriation to provide initial financing for the West Greeley development, including an arena, ice center, hotel and water park.
City staff described the COPs as short-term financing to fund predevelopment costs including design, engineering and long-lead materials. “The total amount of expenditures using the certificates of participation proceeds will not exceed…
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