HomeMy WebLinkAbout1986 Resolution No. 010RESOL.UTION NO . _i{~
SEH i ES OF 1986
A HE:SO L.lfl'ION I !JI A'I'ING Tllf; IN1'EN'l'ION OF 'I'IIE: Cl 'I'Y 0 1' l'l>IGLEWOOI) 'l'O
ltiSUf: QUALW i m MOH' G!: UONDS DY SIWI'El'1UER 30 , 19 86 .
Wl lf:l!fJ\., t he Cny of I:..'lglewoocl , Co l o r dC.lo (Lh,• "City") i s
o..1u hori zet.J by th .. Co un ty and M .. uii c ipa l i ty D:?velO[lTil.'ll t Jevenue Bor.J
Act , consl i t uting Ar ic l e 3 of 1'iLle 29 , Co l o rado !\:•v is ed Sta tutes
to finance pr ope1 tie~ Lo the erw;I that mor e a..i0<1uc1tc res idential
hous ing (ac i l i ti es (o r I ow-und m it.Id l e -i ncon e (.im i 1 i es and per so ns m.Jy be prov idcd ; arx:i
WII EIU:I\S , [ec.l e ~.tl l dw res tricts the ~nount of tax e xenpt
ol>I i · 1tion5 whi c h may be-i ssuc'U by the Colorado llous i ncJ Fir1c1nce
Aul t, c , Ly ~ind local governn e n a l uni ts in t hr SL L h~ of Co lorado
(U1e ''Stt1te 11
) t o f in,in e s ingl e firnil " rnorLg cKJe::; (11qu.ilified
mortg,.1tJe bo 1).]s "); a nd
h'HJ:.:HKf\S , pur s uant t o fed erd l Jc1 w the State h .. 1B prov i ded for a
ro rmul n for a l loc:a t ion o f such a nou,t anOl1lJ the governn e ntal un i t s
in he S ;1te in a 10..,n ne r di(f r e nt lean the feclc r cil. allocation
formuJ.1 , in P,>r t 8 of Ar t ic le 1 of 1'it l e 29 of Col o r ddo Revised
Stc1tutes (the"AJJ ocat ion Act "); an.t
Wll~REAS, the l\lloca tion Act provides tha t in order for a ci t y
to be grant.ad a gual i fied mortgag e bond a llocat i on for the per i ocl
(ron Ma y I through Septenber 30 ol any year t he c ity mus t take
o ff ic ial act i on indicating an inte nt Lo issue qualified mortgage
bonds by Septenber 30 of such year and fil e a copy of the
ordinance , r esol u ion or motion adopted by the governing body o f
such c i ty evide ncing such off i c ial action with the State , a ll by /\pril 15 of such year ; a nd
Wll ~HEAS , the Ci ty desire~ t o be granted a gu;ilif i ed mortgage
bond a llocat ion fo r the period fran May I , 1986 through Septenber 30 , 1986 ; a nd
WllEREAS , the Allocat i on Act fu,ther provides that such
qu<1lif ied mort,Jage bond allocat ion may be transferred to a ny
governn e ntd l uni t in t he St ate whi ch i s author ized t o i ssue
quali fied mo r tgage bo nd s .
NO,ol , '1'1 1/lRE , m: I'!' Rf.50f,VEIJ BY 11l E C ITY COU NCIL OF THC ..:!TY OF ENGLfli OOJJ , COLORADO:
Section l. 1l1e Ci ty Co un c il of the Ci ty he r e by ind ica t es the
1nte ntTcinof-t he City to i ssue qua Ii f ied mortgacJe bonds by
Septenber 30 , 1986.
Section 2 . '"1i s re50 lution shal L be in full forc:1 and e f ftc .. :l up.m Tts--p.]-S.ciage ard app roval .
I\OOPl'm AND APPROVED this 7 th day o f Apri l, l 986 .
i\l t ,,._,l :
I , Patr ici a Ii. Crow , City Cle rk of the Ci ty of Englewood ,
t:olorado , her e by certify that the above and fo regoing is a t rue ,
accurate, a nd conpl e t e copy of Iesolution No • .L.Q__, Serie s of 1986 .
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