UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934
Date of Report (Date of earliest event reported): May 24, 1996 (May 24, 1996)
Commission File Number 0-11655
NTS-PROPERTIES IV
(Exact name of registrant as specified in its charter)
Kentucky 61-1026356
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation or organization) No.)
10172 Linn Station Road
Louisville, Kentucky 40223
(Address of principal executive (Zip Code)
offices)
Registrant's telephone number,
including area code (502) 426-4800
Not Applicable
Former name, former address and former fiscal year,
if changed since last report
<PAGE>
Item 5. Other Items
As of May 24, 1996, NTS-Properties IV (the "Partnership") has
elected to fund an additional amount of $277,620 to its Interest
Repurchase Reserve for the second quarter of 1996. The Interest
Repurchase Reserve was originally established February 1, 1996
pursuant to Section 16.4 of the Partnership's Amended and Restated
Agreement of Limited Partnership. With this funding, the
Partnership will be able to purchase up to 1,850 Units at a
currently contemplated price of $150 per Unit. The Partnership
intends to notify the limited partners of the additional funding to
the Interest Repurchase Reserve and the opportunity to request that
the Partnership repurchase Units at the established price by letter
dated May 24, 1996, a copy of which is attached hereto and made a
part thereof.
<PAGE>
May 24, 1996
Dear NTS-Properties IV Investor:
On February 1, 1996, the Partnership announced the funding of an Interest
Repurchase Reserve of $297,450 under which the Partnership repurchased and
retired 1,983 Units of the Partnership at a price of $150 per Unit. The
Partnership received repurchase requests well in excess of the 1,983 Units.
The Partnership has elected to fund an additional amount of $277,620 to the
Interest Repurchase Reserve for the second quarter 1996. With this funding, the
Partnership will be able to PURCHASE UP TO 1,850 ADDITIONAL UNITS AT A CURRENTLY
CONTEMPLATED PRICE OF $150 PER UNIT from investors who sign and return the
Repurchase Request form attached to this letter.
Units will be repurchased on a "first-come, first served" basis until the
Interest Repurchase Reserve is depleted. If the number of Units submitted for
repurchase again exceeds that which can be repurchased by the Partnership, those
additional Units may be repurchased in subsequent quarters. The Partnership may
at the discretion of the General Partner continue to set aside funds in the
Interest Repurchase Reserve.
The above offering price per Unit was established by the General Partner in its
sole discretion, and does not purport to represent the fair market value or
liquidation value of a Unit. The General Partner believes that this purchase
price represents a substantial discount from the value of each Unit and strongly
recommends to the investors that Units be held and not sold. However, there is
no guarantee of the amount that limited partners who choose not to sell will
receive upon the ultimate liquidation of the Partnership.
If you are interested in the Partnership repurchasing your Units, please sign,
date and return the enclosed Repurchase Request form, as instructed. Upon
receipt of your Repurchase Request, we will provide your with the appropriate
transfer form and instructions. NO TRANSFER FEES OR COMMISSIONS WILL BE CHARGED
FOR THE REPURCHASE.
You may obtain further information on the Interest Repurchase Reserve by calling
our Investor Services at (303) 705-6196.
<PAGE>
REPURCHASE REQUEST
For Limited Partnership Units in
NTS-PROPERTIES IV
Date:__________________
I request that NTS-Properties IV repurchase my limited partnership interest(s)
("Units") at the price of $150 per Unit, as described in the letter to me from
NTS-Properties Associates IV dated May 24, 1996 to which this Repurchase Request
is attached. AS A CONDITION TO REPURCHASE, I UNDERSTAND THAT I HEREBY WAIVE THE
PROVISIONS OF SECTION 16.4 OF THE AMENDED AND RESTATED AGREEMENT OF LIMITED
PARTNERSHIP OF NTS-PROPERTIES IV (THE "PARTNERSHIP AGREEMENT") REGARDING THE
PRICE AND TERMS OF REPURCHASE OF UNITS, AND FULLY AND FINALLY RELEASE
NTS-PROPERTIES IV AND ITS GENERAL PARTNER FROM ANY AND ALL KNOWN OR UNKNOWN
CLAIMS, LIABILITY AND ACTIONS, WHETHER ARISING UNDER OR PERTAINING TO THE
OFFERING OR PROSPECTUS FOR NTS- PROPERTIES IV, THE PARTNERSHIP AGREEMENT OR
OTHERWISE. I WILL REAFFIRM MY WAIVER AND RELEASE UPON EXECUTION OF THE TRANSFER
DOCUMENTS. PLEASE SEND ME THE APPROPRIATE TRANSFER DOCUMENTS.
I own ________ Units of NTS-Properties IV. I have read and fully understand the
foregoing.
[Each owner of the Limited Partner Units must sign below.]
- ----------------------------------- -----------------------------------
Signature of Limited Partner Signature of Limited Partner
- ------------------------------------ -----------------------------------
Printed Name Printed Name
Once completed, forward this form to: NTS-Properties IV
c/o Gemisys Corporation
7103 S. Revere Parkway
Englewood, CO 80112
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
NTS-PROPERTIES IV
(Registrant)
BY: NTS-Properties Associates IV
BY: NTS Capital Corporation,
General Partner
/s/ Gregory A. Compton
Gregory A. Compton
Senior Vice President/Secretary
Date: May 24, 1996
<PAGE>
