Finance

REFINANCE OF KEY LAND LOANS TO CONSOLIDATE DEBT

In 2010, the Ketchum Urban Renewal Agency sold bonds to refinance three separate loans; two of these loans were used to purchase property at 491 Sun Valley Road and 211 East First Street and the third loan was used to finance a portion of the 4th Street Heritage Project.  Consolidation of these loans through the 2010 bond sale resulted in a manageable repayment schedule at a competitive interest rate.  The 2010 bonds will be paid off in 2034.

DEBT SERVICE FUND

The purpose of the Debt Service Fund is to facilitate annual principle and interest payments on the KURA’s 2010 bonds.  The fund also includes a reserve account, in compliance with the bond sales agreement, to secure scheduled payments in the unlikely event that the KURA’s traditional revenue streams are disrupted.  An additional reserve is held in bank escrow for the same purpose.  The bond reserves cannot be used for any other purpose until the agency’s debt is paid off.

For more information on municipal bonds, visit the Municipal Securities Rulemaking Board website.

2010 REFUNDING BOND DOCUMENTS

VOLUME I

Cover

Index

General Certificate of Agency

02 – Resolution No. 06-033

03 – Resolution No. 06-034

04 – Ordinance No. 980

05 – Resolution No. 06-URA1

06 – Resolution No. 06-URA5

07 – Ordinance No. 992

08 – Resolution No. 07-URA15

09 – Resolution No. 07-URA22 and Promissory Note

10 – Deed of Trust and Resolution No. 07-URA21

11 – Affidavit of Publication – Notice of Public Bond Sale

12 – Resolution No. 10-URA2

13 – Resolution No. 10-URA3

14 – Resolution No. 10-URA4

15 – Certificate as to Finality of Preliminary Official Statement

15 – Preliminary Official Statement

VOLUME II

Cover

Index

16 – Bond Purchase Agreement

17 – Final Official Statement

18 – Certificate of Note Holder to Allow for Early Redemption

19 – Order to Authenticate and Deliver Bond

20 – Trustee’s Certificate and Acceptance

21 – Certificate of Ketchum Urban Renewal Agency

22 – Signature and No Litigation Certificate

23 – Tax Certificate

23 – Underwriters Certificate

24 – Receipt for Bonds

25 – Receipt for Proceeds of Bond

26 – Opinion

27 – Supp. Opinion

28 – IRS Form 8038-G and Certificate of Mailing

29 – Information Reporting Agreement

30 – Specimen Bond

 

City of Ketchum Ordinance 1077 Regarding a Revised URA Plan

1077 – Adopting a revised Urban Renewal Area Plan with a Revised Revenue Allocation Area for the Ketchum Urban Renewal Agency.pdfer1

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