In response to continued growth of Chaffee County and the government services needed to support county operations, the Board of County Commissioners (BOCC) approved pursuit of funding for strategic capital projects at its April 13, 2021 regular meeting.
These capital projects include expansion of the County Sheriff’s Office and administrative building in Salida and the new EMS Public Safety Building in Buena Vista. These capital projects will improve capacity, safety, and accessibility within the county facilities utilized by law enforcement and detentions staff, first responder agencies, and administrative departments.
Chaffee County is now planning to issue Certificates of Participation (COPs) to fund these capital improvement projects. The BOCC has made it a priority to give local residents an opportunity to purchase those COPs. These COPs can be purchased in $5,000 denominations with maturities from 2 to 20 years. The COPs are scheduled to be sold on July 8, 2021 from 8am to 9:30am.
The COPs are rated AA- by Standard & Poors and are secured by an annual appropriation pledge by the County to make lease payments from available funds and by a leasehold interest in the County jail. The COPs are not general obligation bonds.
Chaffee County has engaged investment banking firm Stifel, Nicolaus & Company, Inc. to manage the sale of the COPs. Any interested individuals can contact their investment advisor or broker, can contact Stifel representatives at 877-816-4775, or Beth Helmke, Chaffee County Public Affairs Officer at bhelmke@chaffeecounty.org or 719-530-5612.
The Preliminary Official Statement, dated June 23, 2021 can be viewed at https://bit.ly/ChaffeeCOPs.
