owns willing to pay millions more roe cites) mineral ight, gining the acc they nesta com- test forollproddeton the report estes hee which —16,200Lowry acres could be open fornew oil and Baeza rated, "Croce a Chinese ofl and gas gla, in Jame fring aryapoed pay aboutss7sbveties fa) ‘sal worth nearly $13 bilen for ¢ one ied ee ni Gt 60000 ates of Wyoming a Clady seEtowey 132 REN Ure [RSS NIA «c-ownerof Travel Productonsn Park, wera office, where nwihlehhe has worked, n industry primed Hemschoot, co-owner and co-founder of Trav- lin’ Productions, has lived in Hollywood and UPS. North Carolina. But he chose to locate his studio here partly because ofan emerging pool of film- industry talent that drew more work to Colored ‘And as he and co-owner Sean Bridgers scout uri last astern Colorado locations to shoot selected ivil War- scenes for his movi, they're pondering future When he fms that ean be shot and produced almost e- \imraise —tirelyin-state is Parker See MOUIES A PAYMENT OPTIONS. AB Payment system company eWise is moving its headquarters to Denver, Lowry Bombing Range site tsuneo ce, DPS faces restructuring dilemma Options limited on $750M pension financing deal. wears SAKES Denver Public Schools officals axe being forced to restructure acompli- cated and controversial $750 milion pension financing deal because the bank providing liquidity om the deal nolonger will do so afer April, ‘And the number ofbanks providing credit support for variablerate bond obligations has dried up since the f- nancial eiis began in 2008 so the Aistrct’s options fr restructuring the debtae limited ‘ In 2008, nan effort to fill a $400 million pension shortfall and refi- nance existing debt, the DPS school board approved isuing $750 milion in 30-yeay,variable-ate pension cer tifcates of participation COPS. The complex deal involved putting vp district buildings as collateral, en- aging interest-rate swaps to create 2 symthelc fixed interest rate onthe POPS and entering a standby pur chase agreement with Dexia, a Buo pean bank that insured the’ pension See BONDS) 432ABZ | reamsan 34200 FROM THE FRONT Tavenainjoamalae een us URNA BONDS: DPS must restructure $750M debt by April 23 favorable economics and reasonable pro- tection against most Suppes, chief operating officer at DPS. "Were crying to find something that is a ‘happy medium” the pies question for the district, ‘Because fixing out al of ‘who helped craft the transaction in 20 ‘The letters of credit also will expire in along with current superintendent Tom thre yeas co the dst has no uae antee of being able to renew or replace ‘chem. Changes in the perception of either 1DPS' or the banks’ credit or changes in the acceptance ofthe COP structure itself could affect the bond's trading levels, he added, in the complex 2008 deal, bur would mean a tly as Tast summer, DPS off- cals defended the deal, saying twas the ‘est option atthe time and thats saved sand restructure Funding mix suggested ‘A restructuring plan presented to the boardonFeb.14calsforamixofvariable- ind debt service obligations. ‘Under the plan, created by the district's ‘nance managers and advisers, a range ‘of $375 million to $500 million would re- {nto fixed or variable rate debt, “The blended structure will hopefully provide a good balance between more todistric figures Suppes also pointed out that the dis- trict has saved about $34 million overall bby doing the POPs deal in 2008, com- paced with what it would have paid under Tenders, COO Supt - loge schools or buildings tat might be red up. ‘As part of the 2008 PCOPs deal, the dis- trict getup a lease company and sold 15 schools, including East High School, Hill ‘Middle Schooland Abrabam Lincoln High School, and two administration buildings to that lease company ta act as collateral ‘onthe $750 million debt. {il Runcons of gvernmene “ne COPs matte nashedup wel de spt al the nani ees? Passi telioue ba yeatoo ari agate duoc ae prema there be a ORAPERSbigjoura com | 303-408-9230 MOVIES: Will Colo. ever be Hollywood of the Rockies?