HomeMy WebLinkAbout1988 Resolution No. 072I
I
RESO LUTION NO .
SF.RIF:S OF 1988
A HESOT.UTlON AUTIIOR J ?.JNG THE ENGLEWOOIJ UHDAN HENl:l~A I. At'T IIORI'l'Y TO
NCG OT IATC A LOAN WITII TIIC ENG I.C\'IOOD tJONl:Ml:RGENC\' l'.I \PT.0 \'1 'E
RETIRE ME NT 1301\RD.
h'llEREAS , the Ci ty C"f En<J l e wood h~:-; lrc1n,•d (uncl s to the
En ~lcwood Urba n Ren ewal Al1tho rit y ; ~nd
l'I IIC REAS , th e r.n'}lewcod Urban Re newal Autlv,rit,· d esi r es t o
bcrrow f u nds fr om t~c Enqlewood Nonemr r ~~ncy l~mpl ycc J<ctirement
B0ard of th e rity c! Enqlewood ; and
\-III EP.!:AS, the Ci y o f Enql e wood rl esi rr-s ·o facilita t e
borrowin g e r f unds by t he r.ng l c w0 c <1 Urban Renewa l /\ut ho r ity fro m
the Retirement Beard ;
NO W, Tllr.RF.FORE , 13E T RESOLVED ,\S FOLLOI/S :
Sec ti on l . Au t ho rit y i• he r Pby qivcn to th e Englewoo d Urb a n
Renewal Au thority t o bo rro w fu nd s fro m the Eng lewood No nemergenc y
Employee Retirement Roa rd pursuan tc a Subord inate Tax I nc rement
Revenue rl otc 1n th n m~xirnun am o unt of $621 ,750 .
Sectio n 2 . Thi s Resolu ion does not require the Eng lewood
Nocemergenr y Retirement Boa r d to make a~y l oan to the Englewood
Urb a n Re ne wa l Autho~lty .
Sectio n 3 . I f a oan is made f r o m th e Eng lewood
~nemergency Employee Re irement Boa r d t o th e En g l ew o od Urban
Renewa l Auth o r i t y t he liab i li ty s ha ll be eq ual to the liab ility
~f thP Enqlewood Urbnn Re ne wa l Autho rit y t o th e City of Engl ewood
pursuant o Slibordinatc TRX Incre me nt Revenu e Note pr ev i ous l y
issued o th e City cf Enqlewood .
AO OPTCO i\~D APPROVtD this 7th day of No v em ber , 1 988 .
Attcs :_i_/: ,j L? f , ,'
Patricin H. Crow, City Clerk
I , Patric in ii . Cr o w, City Clerk of
Colorado , he r eby certify the above is a
No ._·_,_ Series of 19 88 .
the Ci t y o f Eng l ewoort ,
t~ue copy of Resoluti o n
. 'I /i {t7·,,,4. l V l t I-,,
Pat r ic i a H. Crow