HomeMy WebLinkAbout2019 Ordinance No. 026ORDINANCE NO. 26
SERIES OF 2019
COUNCIL BILL NO. 17
INTRODUCED BY COUNCIL
MEMBER MARTINEZ
AN ORDINANCE AUTHORIZING AND APPROVING CITY OF
ENGLEWOOD'S PARTICIPATION IN THE METRO MORTGAGE
ASSISTANCE PLUS PROGRAM, AND AUTHORIZING THE EXECUTION OF
THE DELEGATION AND PARTICIPATION AGREEMENT AND OTHER
DOCUMENTS IN CONNECTION THEREWITH.
WHEREAS, the State of Colorado (the "State") Constitution Article XIV, Section I 8(2)(a)
provides that nothing in the Constitution shall prohibit any of the State's political subdivisions from
cooperating with one another to provide any service lawfully authorized to each of the cooperating units;
WHEREAS, the City and County of Denver, Colorado ("Denver") is authorized pursuant to its
Home Rule Charter to promote the financing of mortgage loans for low-and moderate-income persons or
families intended for use as the sole place of residence by the owners or intended occupants thereof;
WHEREAS, Denver sponsors the Metro Mortgage Assistance Plus Program to provide
competitive mortgage loans which will be coupled with down payment and closing cost assistance in
connection with financing mortgage loans for low-and moderate-income persons or families intended for
use as the sole place ofresidence by the owners or intended occupants thereof (the "Program");
WHEREAS, Denver has invited the City of Englewood ("Englewood") to participate in the
Program;
WHEREAS, Englewood has the full legal authority to participate in the Program pursuant to the
general powers granted to it in Title 29, Article I, Section 203 of the Colorado Revised Statutes, as
amended; and Title 31, Article I 5, Section IO I et seq., Colorado Revised Statutes, as amended ( collectively,
the "Act"); and
WHEREAS, Englewood desires to delegate to Denver the authority of Englewood to take action
and exercise power under the Act on behalf of Englewood with respect to the Program within Englewood's
boundaries.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ENGELWOOD, COLORADO AS FOLLOWS:
Section I. In order to benefit the residents of Englewood, the City Council of the City of
Englewood authorizes and approves its participation in the Program in connection with the financing of
mortgage loans for low-and moderate-income families or persons intended for use as the sole place of
residence by the owners or intended occupants thereof, and the City delegates to Denver the authority of
the City to take action and exercise power under the Act on behalf of the City with respect to the Program.
Section 2. The Mayor is hereby authorized and directed to execute and deliver and the City Clerk
is hereby authorized and directed to attest and deliver the Delegation and Participation Agreement attached
hereto as Appendix A and such other agreements and certificates and to take such other actions as may be
necessary or convenient to carry out and give effect to the City's participation in the Program.
Section 3. Nothing contained in this Ordinance or the Assignment shall constitute a debt,
indebtedness or multiple-fiscal year direct or indirect debt or other financial obligation of the City within
the meaning of the Constitution or statutes of the State of Colorado or the home rule charter of any political
subdivision thereof, nor give rise to a pecuniary liability of the City or a charge against its general credit or
taxing powers.
Section 4. If any section, paragraph, clause or provision of this Ordinance shall for any reason be
held to be invalid or unenforceable, the invalidity or unenforceability of any such section, paragraph, clause
or provision shall not affect any of the remaining provisions of this Ordinance.
Introduced, read in full, and passed on first reading on the I 0th day of June, 2019.
Published by Title as a Bill for an Ordinance in the City's official newspaper on the 13 th day of
June, 2019.
Published as a Bill for an Ordinance on the City's official website beginning on the 12 th day of
June, 2019 for thirty (30) days.
Read by Title and passed on final reading on the 24 th day of June, 2019.
Published by Title in the City's official newspaper as Ordinance No. 26, Series of 2019, on the
27th day of June, 2019.
Published by title on the City's official website beginning on the 26th day of June, 2019 for thirty
(30) days.
This Ordinance shall take effect thirty (30) days a
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, .·, , ATTEST:
I, Stephanie Carlile, City Clerk of the City of Englewood, Colorado, hereby certify that the above and
foregoing is a true copy of the Ordinance passed on final reading and published by Title as Ordinance No.
26, Series of 2019.
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DELEGATION AND PARTICIPATION AGREEMENT
This DELEGATION AND PARTICIPATION AGREEMENT, dated as of~---
20 I 9 (this "Delegation and Participation Agreement"), is by and oetween the CITY OF
ENGLEWOOD, COLORADO (''Englewood"), a city and political subdivision duly organized and
existing under the laws and Constitution of the State of Colorado, and the CITY AND COUNTY
OF DENVER, COLORADO, a legally and regularly created, established, organized and existing
home rule charter city and political subdivision under the Constitution and statutes of the State of
Colorado ("Denver");
RECITALS:
WHEREAS, the State of Colorado (tlie "State") Constitution Article XIV, Section 18(2)(a)
provides that nothing in the Constitution shall prohibit any of the State's political subdivisions
from cooperating with one another to provide any service lawfully authorized to each of the
cooperating units; and
WHEREAS, Denver is authorized pursuant to its Home Rule Charter to promote the
. financing of mortgage loans for low-and moderate-income persons or families intended for use
as the sole place ofresidence by the owners or intended occupants and to promote the public health,
welfare, safety, convenience and prosperity of the people of Denver; and
WHEREAS, Denver sponsors the Metro Mortgage Assistance Plus Program to provide
competitive mortgage loans which will be coupled with down payment and closing cost assistance
in connection with financing mortgage loans for low-and moderate-income persons or families
intended for use as the sole place of residence by the owners or intended occupants thereof (the
"Program"); and
WHEREAS, Denver has invited Englewood to participate in the Program; and
WHEREAS, Englewood has the full legal authority to participate in the Program pursuant
to [the general powers granted to it in Title 29, Article I, Section 203 of the Colorado Revised
Statutes, as amended; Title 31, Article 15, Section IOI et seq., Colorado Revised Statutes, as
amended; and the Ordinance adopted by the Englewood City Council authorizing Englewood's
participation in the Program pursuant to this Delegation and Participation Agreement ( collectively
the "Act"); and
WHEREAS, Englewood desires to delegate to Denver the authority of Englewood to take
action and exercise power under the Act on behalf of Englewood with respect to the Program
within Englewood's incorporated boundaries;
NOW THEREFORE, in consideration of the mutual covenants and undertakings set forth
herein, Englewood and Denver hereby agree as follows:
Section I. Englewood hereby delegates to Denver the authority of Englewood to take
action and exercise power under the Act on behalf of Englewood with respect to the Program
within Englewood's boundaries.
4843-6508-2490.2
Section 2. Denver hereby accepts the delegation of authority from Englewood pursuant to
Section I hereof and agrees to abide by each of the terms and conditions of this Delegation and
Participation Agreement in connection with the use of such delegation. Denver agrees to make
the Program available to Englewood for the origination of home mortgages within Englewood's
unincorporated boundaries.
Section 3. In the event that the Program is discontinued by Denver, this Delegation and
Participation Agreement, and all duties, obligations and rights of Denver and Englewood
hereunder, shall terminate. If the Program is terminated, Englewood agrees to hold Denver
harmless for any costs or any other liabilities incurred by Englewood with respect tci the adoption
and approval of this Delegation and Participation Agreement or any other Englewood actions
related thereto.
Section 4. Englewood's participation in the Program pursuant to this Delegation and
Participation Agreement shall not be construed as creating or constituting a general obligation or
multiple fiscal year direct or indirect indebtedness or other financial obligation whatsoever of
Englewood nor a mandatory payment obligation of Englewood in any fiscal year during which
this Delegation and Participation Agreement shall be in effect. ·
[Signatures on the following pages]
4843-6508-2490.2
N WITNESS WHEREOF, Englewood and Denver have caused this Delegation and
Participation Agreement to be executed and be effective as of ____ __. 2019.
[SEAL]
Attest:
4843-6508-2490.2
CITY OF ENGLEWOOD, COLORADO
CITY AND COUNTY OF DENVER,
COLORADO
By _____________ _
Chief Financial Officer
[Signature Page to Delegation and Participation Agreement]