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Board authorizes COP closing documents for EMS Station 1 and selects ColoTrust Plus investment vehicle
Summary
Commissioners authorized the chair to sign closing documents for the county's Certificates of Participation tied to EMS Station 1 and selected the ColoTrust Plus pool for short-term investment of proceeds until construction spending occurs.
The Board of County Commissioners on March 18 authorized county staff and the chair to sign all closing documents for Certificates of Participation (COPs) financing related to the EMS Station 1 project and completed related administrative steps.
County finance and outside counsel led a brief closing session during which staff routed and signed required closing documents (site lease, trustee leaseback, official statement, continuing disclosure certificate, tax certificate, omnibus certificate and related closing affidavits). The board made a single motion authorizing the chair and applicable personnel to execute all closing documents for the EMS Station 1 COPs.
Separately, the board voted to direct the county treasurer to invest COP proceeds in the ColoTrust Plus (Colorado Local Government Liquid Asset Trust – Plus) pool profile; the board authorized the chair to sign the investment-selection/disclosure paperwork. County staff said the decision was intended to park proceeds in a liquid, low-risk pool until construction disbursements are required.
Ending: County staff confirmed the closing paperwork was signed and will proceed to deposit and manage proceeds in the stated investment vehicle pending construction draws.
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