The URL can be used to link to this page

Agenda 04/28/2020 Item #16G 1 (RPS #20-7692 w/Hole Montes, Inc.) (;(&87,9(6800$5< 5HFRPPHQGDWLRQ WR DSSURYH WKH VHOHFWLRQ FRPPLWWHH¶V UDQNLQJ IRU 5HTXHVW IRU 3URIHVVLRQDO 6HUYLFHV³536´1R³'HVLJQ6HUYLFHVIRU(YHUJODGHV$LUSDUN5XQZD\5HKDELOLWDWLRQ´ DQGDXWKRUL]HVWDIIWREHJLQFRQWUDFWQHJRWLDWLRQVZLW KWKHWRSUDQNHGILUP+ROH0RQWHV,QFVR WKDWVWDIIFDQEULQJDSURSRVHGDJUHHPHQWEDFNIRUWKH%RDUG¶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¶V * 3DFNHW3J FRQVLGHUDWLRQ ),6&$/,03$&7$IWHUDQDJUHHPHQWKDVEHHQUHDFKHGVWDIIZLOOEULQJWKHQHJRWLDWHGDJUHHPHQWWR WKH%RDUGIRUDSSURYDO)XQGLQJIRUWKHVXEVHTXHQWFRQWUDFWLVDYDLODEOH LQ$LUSRUW*UDQW)XQGDQG $LUSRUW0DWFK)XQGSURMHFW *52:7+0$1$*(0(17,03$&77KHUHLVQR*URZWK0DQDJHPHQWLPSDFW /(*$/&216,'(5$7,2167KLVLWHPLVDSSURYHGDVWRIRUPDQGOHJDOLW\DQGUHTXLUHVPDMRULW\YRWH IRU%RDUGDSSURYDO657 5(&200(1'$7,217RDSSURYHWKHVHOHFWLRQFRPPLWWHH¶VUDQNLQJIRU5361R³'HVLJQ 6HUYLFHVIRU(YHUJODGHV$LUSDUN5XQZD\5HKDELOLWDWLRQ´DXWKRUL]HVWDIIWREHJLQQHJRWLDWLQJZLWKWKHWRS UDQNHGILUP+ROH0RQWHV,QFDQGLQWKHHYHQWWKDWDQDJUHHPHQWFDQQRWEHUHDFKHGZLWKWKDWILUPGLUHFW VWDIIWRFRQWLQXHQHJRWLDWLQJZLWKWKHUHPDLQLQJILUPVLQUDQNHGRUGHUVRWKDWDSURSRVHGDJUHHPHQWFDQ EHEURXJKWEDFNIRUWKH%RDUG¶VFRQVLGHUDWLRQDWDVXEVHTXHQWPHHWLQJ 3UHSDUHG%\-XVWLQ/REE([HFXWLYH0DQDJHU$LUSRUW$XWKRULW\ $77$&+0(176 )LQDO5DQNLQJ 3') 125$3') 6ROLFLWDWLRQ 3') +0B5HVSRQVHBB(YHUJODGHVB$LUSDUNB5XQZD\B5HKDEB3') * 3DFNHW3J &2//,(5&2817< %RDUGRI&RXQW\&RPPLVVLRQHUV ,WHP1XPEHU* 'RF,' ,WHP6XPPDU\5HFRPPHQGDWLRQWRDSSURYHWKHVHOHFWLRQFRPPLWWHH¶VUDQNLQJIRU5HTXHVWIRU 3URIHVVLRQDO 6HUYLFHV ³536´ 1R ³'HVLJQ 6HUYLFHV IRU (YHUJODGHV $LUSDUN 5XQZD\ 5HKDELOLWDWLRQ´DQGDXWKRUL]HVWDIIWREHJLQFRQWUDFWQHJRWLDWLRQVZLWKWKHWRSUDQNHGILUP+ROH0RQWHV ,QFVRWKDWVWDIIFDQEULQJDSURSRVHGDJUHHPHQWEDFNIRUWKH%RDUG¶VFRQVLGHUDWLRQDWDVXEVHTXHQW PHHWLQJ 0HHWLQJ'DWH 3UHSDUHG E\ 7LWOH2SHUDWLRQV&RRUGLQDWRU±$LUSRUW$XWKRULW\ 1DPH'HEUD%UXHJJHPDQ $0 6XEPLWWHGE\ 7LWOH'LYLVLRQ'LUHFWRU2SHUDWLRQV6XSSRUW±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ĂŐĞ ϭ ŽĨ ϭ *D 3DFNHW3J$WWDFKPHQW)LQDO5DQNLQJ5DQNLQJIRU6ROLWLFDWLRQ;5:'HVLJQ ĂƚĞ͗DĂƌĐŚϰ͕ϮϬϮϬ EŽƚŝĐĞŽĨZĞĐŽŵŵĞŶĚĞĚǁĂƌĚ ^ŽůŝĐŝƚĂƚŝŽŶ͗ϮϬͲϳϲϵϮ dŝƚůĞ͗ĞƐŝŐŶ^ĞƌǀŝĐĞƐĨŽƌǀĞƌŐůĂĚĞƐŝƌƉĂƌŬZƵŶǁĂǇZĞŚĂďŝůŝƚĂƚŝŽŶ ƵĞĂƚĞĂŶĚdŝŵĞ͗:ĂŶƵĂƌǇϮϭ͕ϮϬϮϬĂƚϯ͗ϬϬƉ͘ŵ͘ ZĞƐƉŽŶĚĞŶƚƐ͗ ŽŵƉĂŶǇEĂŵĞ ŝƚǇ ŽƵŶƚǇ ^ƚĂƚĞ &ŝŶĂůZĂŶŬŝŶŐ ZĞƐƉŽŶƐŝǀĞͬZĞƐƉŽŶƐŝďůĞ ,ŽůĞDŽŶƚĞƐ͕/ŶĐ͘EĂƉůĞƐ ŽůůŝĞƌ &>ϭ zĞƐͬzĞƐ ƚŬŝŶƐEŽƌƚŚŵĞƌŝĐĂ͕/ŶĐ͘&ŽƌƚDǇĞƌƐ >ĞĞ &>Ϯ zĞƐͬzĞƐ ǀĐŽŶ͕/ŶĐ͘KƌůĂŶĚŽ KƌĂŶŐĞ &>ϯ zĞƐͬzĞƐ /ŶĨƌĂƐƚƌƵĐƚƵƌĞŽŶƐƵůƚŝŶŐ ΘŶŐŝŶĞĞƌŝŶŐ͕W>>͕>> dĂŵƉĂ ,ŝůůƐďŽƌŽƵŐŚ &>EŽƚZĂŶŬĞĚ zĞƐͬzĞƐ hƚŝůŝǌĞĚ>ŽĐĂůsĞŶĚŽƌWƌĞĨĞƌĞŶĐĞ͗zĞƐEŽ ZĞĐŽŵŵĞŶĚĞĚsĞŶĚŽƌ;ƐͿ&ŽƌǁĂƌĚ͗ KŶĞĐĞŵďĞƌϭϯ͕ϮϬϭϵƚŚĞWƌŽĐƵƌĞŵĞŶƚ^ĞƌǀŝĐĞƐŝǀŝƐŝŽŶƌĞůĞĂƐĞĚŶŽƚŝĐĞƐŽĨZĞƋƵĞƐƚĨŽƌWƌŽĨĞƐƐŝŽŶĂů^ĞƌǀŝĐĞƐ ϮϬͲϳϲϵϮ͕ĞƐŝŐŶ^ĞƌǀŝĐĞƐĨŽƌǀĞƌŐůĂĚĞƐŝƌƉĂƌŬZƵŶǁĂǇZĞŚĂďŝůŝƚĂƚŝŽŶ͘ϭϱ͕ϴϯϰ ĨŝƌŵƐǁĞƌĞŶŽƚŝĨŝĞĚ͕ϵϰ ĨŝƌŵƐ ǀŝĞǁĞĚͬĚŽǁŶůŽĂĚĞĚƚŚĞďŝĚŝŶĨŽƌŵĂƚŝŽŶĂŶĚĨŽƵƌ;ϰͿ ƉƌŽƉŽƐĂůƐǁĞƌĞƌĞĐĞŝǀĞĚďǇƚŚĞĚƵĞĚĂƚĞŽĨ:ĂŶƵĂƌǇϮϭ͕ ϮϬϮϬ͕ĂƐƐŚŽǁŶĂďŽǀĞ͘ůůĨŽƵƌ ƉƌŽƉŽƐĞƌƐǁĞƌĞĨŽƵŶĚƚŽďĞƌĞƐƉŽŶƐŝǀĞĂŶĚƌĞƐƉŽŶƐŝďůĞ͘/ŶĨƌĂƐƚƌƵĐƚƵƌĞ ŽŶƐƵůƚŝŶŐΘŶŐŝŶĞĞƌŝŶŐ͕W>>͕>>ǁĂƐĐŽŶƚĂĐƚĞĚĨŽƌŐƌĂŶƚĐĞƌƚŝĨŝĐĂƚŝŽŶƐĂŶĚĂƐƐƵƌĂŶĐĞƐ͕ĂŶĚĚĞĞŵĞĚĂ ŵŝŶŽƌŝƌƌĞŐƵůĂƌŝƚǇ͘ dŚĞ^ĞůĞĐƚŝŽŶŽŵŵŝƚƚĞĞŵĞƚŽŶ&ĞďƌƵĂƌǇϮϱ͕ϮϬϮϬ͕ĂŶĚĂƐĚĞƐĐƌŝďĞĚŝŶƐƚĞƉϭŽĨƚŚĞƐŽůŝĐŝƚĂƚŝŽŶĚŽĐƵŵĞŶƚƐ͕ ƚŚĞŽŵŵŝƚƚĞĞƐĐŽƌĞĚĞĂĐŚŽĨƚŚĞƉƌŽƉŽƐĂůƐĂŶĚƐŚŽƌƚůŝƐƚĞĚƚŚĞĨŽůůŽǁŝŶŐƚŽƉƚŚƌĞĞ ĨŝƌŵƐƚŽŵŽǀĞŽŶƚŽƐƚĞƉ Ϯ͗ ǀĐŽŶ͕/ŶĐ͘ ,ŽůĞDŽŶƚĞƐ͕/ŶĐ͘ ƚŬŝŶƐEŽƌƚŚŵĞƌŝĐĂ͕/ŶĐ͘ KŶDĂƌĐŚϯ͕ϮϬϮϬ ƚŚĞ^ĞůĞĐƚŝŽŶŽŵŵŝƚƚĞĞƌĞĐŽŶǀĞŶĞĚĨŽƌƐƚĞƉϮ͕ƉƌĞƐĞŶƚĂƚŝŽŶƐǁĞƌĞŐŝǀĞŶ͕ĂŶĚƚŚĞ ŽŵŵŝƚƚĞĞƌĂŶŬĞĚƚŚĞĨŝƌŵƐĂƐĨŽůůŽǁƐ͗ ,ŽůĞDŽŶƚĞƐ͕/ŶĐ͘ƌĂŶŬĞĚĂƐϭ ƚŬŝŶƐEŽƌƚŚŵĞƌŝĐĂ͕/ŶĐ͘ƌĂŶŬĞĚĂƐϮ ǀĐŽŶ͕/ŶĐ͘ƌĂŶŬĞĚĂƐϯ 'RFX6LJQ(QYHORSH,'%((&)$)%$%%&('*E 3DFNHW3J$WWDFKPHQW125$5DQNLQJIRU6ROLWLFDWLRQ;5:'HVLJQ dŚĞĨŝŶĂůƌĂŶŬŝŶŐƌĞƐƵůƚĞĚŝŶĂƚŝĞďĞƚǁĞĞŶ,ŽůĞDŽŶƚĞƐ͕/ŶĐ͘ĂŶĚƚŬŝŶƐEŽƌƚŚŵĞƌŝĐĂ͕/ŶĐ͘WƵƌƐƵĂŶƚƚŽƚŚĞ ƐŽůŝĐŝƚĂƚŝŽŶĚŽĐƵŵĞŶƚƐĂŶĚƚŚĞŽůůŝĞƌŽƵŶƚǇWƌŽĐƵƌĞŵĞŶƚDĂŶƵĂů͕ƚŚĞŽƌĚĞƌŽĨƌĂŶŬŝŶŐǁĂƐĚĞƚĞƌŵŝŶĞĚ ďĂƐĞĚƵƉŽŶƚŚĞƉƌŽƉŽƐĞƌǁŝƚŚƚŚĞůŽǁĞƌǀŽůƵŵĞŽĨǁŽƌŬƉƌĞǀŝŽƵƐůǇĂǁĂƌĚĞĚŝŶƚŚĞƚǁĞŶƚǇͲĨŽƵƌŵŽŶƚŚƐƉƌŝŽƌ ƚŽƚŚĞZW^ƐƵďŵŝƚƚĂůĚĞĂĚůŝŶĞ͘ ^ƚĂĨĨŝƐƌĞĐŽŵŵĞŶĚŝŶŐŶĞŐŽƚŝĂƚŝŽŶƐǁŝƚŚƚŚĞƚŽƉƌĂŶŬĞĚĨŝƌŵ͕,ŽůĞDŽŶƚĞƐ͕/ŶĐ͘ ZĞƋƵŝƌĞĚ^ŝŐŶĂƚƵƌĞƐ WƌŽũĞĐƚDĂŶĂŐĞƌ͗ WƌŽĐƵƌĞŵĞŶƚ^ƚƌĂƚĞŐŝƐƚ͗ WƌŽĐƵƌĞŵĞŶƚ^ĞƌǀŝĐĞƐŝƌĞĐƚŽƌ͗ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ ^ĂŶĚƌĂ,ĞƌƌĞƌĂ ĂƚĞ 'RFX6LJQ(QYHORSH,'%((&)$)%$%%&('*E 3DFNHW3J$WWDFKPHQW125$5DQNLQJIRU6ROLWLFDWLRQ;5:'HVLJQ &2//,(5 &2817< %2$5'2)&2817<&200,66,21(56 5(48(67)25352)(66,21$/6(59,&(6 536 ,QDFFRUGDQFHZLWK)ORULGD6WDWXWH &RQVXOWDQWV¶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³'LYLVLRQRU'HSDUWPHQW´WKH&ROOLHU&RXQW\ %RDUGRI&RXQW\&RPPLVVLRQHUV3URFXUHPHQW6HUYLFHV'LYLVLRQKHUHLQDIWHU³&RXQW\´KDVLVVXHGWKLV5HTXHVWIRU3URIHVVLRQDO 6HUYLFHV KHUHLQDIWHU³536´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¶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¶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¶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¶VTXDOLILFDWLRQVWRVXFFHVVIXOO\FRPSOHWHWKHSURMHFW (9$/8$7,21&5,7(5,$12&(57,),('0,125,7<%86,1(66(17(535,6(7RWDO3RLQWV$YDLODEOH 6XEPLWFHUWLILFDWLRQZLWKWKH)ORULGD'HSDUWPHQWRI0DQDJHPHQW6HUYLFH2IILFHRI6XSSOLHU'LYHUVLW\DVD &HUWLILHG0LQRULW\ %XVLQHVV(QWHUSULVH (9$/8$7,21&5,7(5,$123$673(5)250$1&(7RWDO3RLQWV$YDLODEOH 7KLVFULWHULRQPHDVXUHVWKH SURIHVVLRQDO WHDP¶VSDVWH[SHULHQFHZLWKSURMHFWVVLPLODULQVL]HW\SHDQGFRPSOH[LW\DVWKLV SURMHFW7KHSURIHVVLRQDOWHDPZLOOEHHYDOXDWHGRQSDVWVHUYLFHVSURYLGHGIRU SURMHFWVRIVLPLODU VL]HDQGVFRSHRIWKLVSURMHFW LQFOXGLQJ WKH H[SHULHQFH WKH WHDP PHPEHUV SURSRVHG RQ WKLV SURMHFW KDYH WRJHWKHU RQ WKH SUHYLRXV SURMHFWV SUHVHQWHG ([SHULHQFHZLWKDOOHOHPHQWVRIWKHSURMHFWVFRSHDVJHQHUDOO\GHVFULEHGKHUHLQZLOOEHHYDOXDWHGZLWKVSHFLILFHPSKDVLVRQ H[SHULHQFHDGGUHVVLQJWKHWHFKQLFDOFRPPXQLW\DQGSURMHFWGHOLYHU\FDWHJRULHV7KHSURIHVVLRQDOWHDP¶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¶VUHVRXUFHVDYDLODEOHWRFRPSOHWHWKHVHUYLFHVUHTXHVWHG LQWKHVFKHGXOHRXWOLQHGLQ WKHVFRSHRIVHUYLFHV7KH3URSRVHUVKRXOGLOOXVWUDWHWRWKH&2817<KRZWKH\SURSRVHWRDSSURDFKWKHSURMHFWDQGDVVHPEOH WKHUHVRXUFHVWRPHHWHDFKSKDVHDQGHDFKPDMRUHOHPHQWRIWKHSURMHFW/LPLWUHVSRQVHWRSDJHV *F 3DFNHW3J$WWDFKPHQW6ROLFLWDWLRQ5DQNLQJIRU6ROLWLFDWLRQ;5:'HVLJQ $ FRQFHSWXDOOHYHO VFKHGXOH VKRXOG EH LQFOXGHG DV D VHSDUDWHSDJH WR LOOXVWUDWH FRQFHSWVRIGHVLJQ DQG SHUPLWWLQJ WLPH VHTXHQFLQJRIWKHPDMRUHOHPHQWV/LPLWVFKHGXOHWRSDJH´[´SDJHVL]HDQGDFWLYLWLHVPD[LPXP :ULWWHQRYHUYLHZRISURIHVVLRQDOWHDP¶VFRQFHSW DQGDSSURDFKWRPDQDJLQJWKHRYHUDOOFRVWRIWKHSURMHFW /LPLWUHVSRQVHWR SDJHV,QFOXGHLQWKHSDJHUHVSRQVHVSHFLILFLQIRUPDWLRQRQSDVWSURMHFWSHUIRUPDQFHWKDWGHPRQVWUDWHVWKH3URSRVHU¶V DELOLW\WRPHHWRZQHUV¶EXGJHWVLQFOXGLQJFKDQJHRUGHUKLVWRU\RQVLPLODUSURMHFWV (9$/8$7,21&5,7(5,$12/2&$7,21 7RWDO3RLQWV$YDLODEOH 7KHSURIHVVLRQDO WHDP¶VDSSURDFKWRPDQDJHPHQWDQGH[HFXWLRQRIZRUNZLWKUHVSHFWWRORFDWLRQRIYDULRXVNH\SURMHFWWHDP PHPEHUVZLOOEHHYDOXDWHGXQGHUWKLVFULWHULRQ7KH3URSRVHUVKDOOGHPRQVWUDWHIURPWKHSURMHFWNLFNRIIKRZWKH\ZLOO HVWDEOLVKWKH SURMHFWORFDWLRQLQRUGHUWRPDQDJHGD\WRGD\RURQVLWHLQIRUPDWLRQFROOHFWLRQDQGGLVWULEXWLRQEHWZHHQLQWHUQDO DQGH[WHUQDOWHDPPHPEHUVDQG&RXQW\VWDIIDVZHOODVRWKHUHQWLWLHVLQYROYHGLQWKHSURMHFW (9$/8$7,21&5,7(5,$125(&(17&855(17$1'352-(&7(':25./2$'62)7+(),50 7RWDO3RLQWV$YDLODEOH 7KLVFULWHULRQPHDVXUHVWKHWHDP¶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±KWWSGRVP\IORULGDFRPVXQEL],IZRUNSHUIRUPHGLQWKH6WDWH (9HULI\,PPLJUDWLRQ$IILGDYLW0HPRUDQGXPRI8QGHUVWDQGLQJ *F 3DFNHW3J$WWDFKPHQW6ROLFLWDWLRQ5DQNLQJIRU6ROLWLFDWLRQ;5:'HVLJQ