Clear UFO sighting in the Mid-Late 1980's, Round craft, moving slowly on a clear night.

Hello,  I was about 8-12 years of age when this happened (However, I was wide awake and fully aware).  
I looked out of my window and saw an absolutely silent craft in the night sky.  It was about 40-60 feet above the ground about 1/2 mile away from me.  It flew (silently and slowly) from the left to the right.  The craft had a central "belt" around it's diameter.  This "belt" of the craft rotated like a ring on a person's finger, while the craft just moved from left to right in the night's sky.  
This ring or belt had circular lights on it that were lined up (like diamonds in a channel set anniversary band).  They were of different colors, green, red, blue, orange, yellow.  They didn't flash, just rotated as the band that they were attached to rotated.  I slapped my face, and yes, I was awake. The UFO just flew off out of my sight.  I have spoken to one other person who has seen a very similar craft in Indiana.
Witness indicates that the date of the incident is approximate.  PD