HomeMy WebLinkAbout1985 Resolution No. 017I
I
C I TY OF ENG LEWOOD , COLORA DO
RESO LUT IO N NO . _LJ__
SER IE S OF 19 8 5
A RES OLU T I ON OF THE CITY OF ENGL EW OOD, COLORADO, SE TTI NG
FO RTH TH E IN TE NT OF THE CITY OF ENGLEW OO D, COLORAD O, TO
TRAN SFER I TS ALLOCAT ED PO RT I ON OF SINGLE FAM I LY MORTGAGE
REVENUE BONDS UNDE R THE STAT E CEI LI NG FOR CITI ES AND TOWNS IN
THE ST AT E OF COLO RA DO TO THE CI TY OF LAK E110 0D, COLORAD O .
WHE REAS , t he City o f Engl ew ood , in t h e Cou n ty o f
Ar a p ahoe and t h P State of Co lo rad o (the "C i ty "), is
a u thoi-iz ed by t h e Co u nty and Munic i p a l ity Deve lopme n t Re v e nue
Bo nd Ac t, c on s titu ti n g Se ction s 2 9-3 -101 et seq ., Co l o r a d o
Rev i se d St a tu t es (t h e "A ct "), to f i n anc e , r e fina n ce , ac quire,
own , l ea se , improve and d ispose o f p ropertie s to t h e end that
mo re aCe g u at e re side nt i a l h o u s ing fa c i lit i es for l o w-and
middle -inc ome families and p e r s o n s ma y b e pro v id ed , whic h
p r om o te the pu bl ic h e a l th , we lfa r e , s afety , c onv e nienc e and
pros p eri ty ; a nd
WHEREAS, the Cit y ha s taken 0ff ic ia l a ction pur s ua n t t o
Sect i on 29 -4 -803 o f the Ac t indicat ing i t s intent t o i ssue
b ond s and t o fil e a copy of t he re so luti o n ev idenc ing s uch
official action with th e Di re c t or o f th e Di vis i on of Ho us i ng
1n the Department o f Loca l Affairs of the State of Colo rado;
and
WHERE AS, t h e Ci t y d esi r e s t o t ransfer its al l oca t e d
portio~ o f s ingle fami ly mo r tgage r evenue bo nds t o .h e Ci t y
o f La k e ~ood, Co lo r ado, i n a n amount not t o exc e e d · ne a mo un t
t o b e a l located to the City under Section 29 -4 -803 of the Act
for th e period from May 1 , 1985, to ,,nd i n :l udi n g Septembe r
30, 191:>5, fo r the City of La ke·:o~ ·, Co l o r ado t o i ssu e s u ch
b ond s on b e h al f o f th e Ci ty .
No r: THER EFOR E , BE IT RESO LVED BY THE CITY COU NC I L OF THE
CI TY OF EN GLE WOOD , COLORADO:
Section l . The City h ereby t r ansfers to the City of
Lakewo od. Colorad o , t he City 's p o r tion of rev e nue bo nds to be
all ocated to the City under Section 29 -4 -803 of the Act from
the period fr om Ma y 1, 1985 t o and including ~eptember 30,
1985, f o t the Cit y of Lakewood, Colorado to i ssue such b onds
on behalf of the City pu rsuant t o the /.,c t by Septembe r 30,
1985, 1n one or more s eries, ~or the pur chas e o f mortgage
l oans for re si dentia l h ousing fac1l1t1 es fo r low -and
m1ddl e-inco:~e familie s and persons in the City, together with
-3 -
the cost of fund i ng any res e r ve fu nds in connect i on with the
reve ,u e b o nd s and costs inc idental to the autho r :zation,
i ssuanc e and s ale of the re ve n 'J': bond s , and a uth o ri zes the
City of Lakew o od t o take all further action on b eh a l f of the
City whi c h is nece ss ary or des irable i n connec tion with such
b ond s.
Se ct i on 2. The City 1 s chief financial or ec on omic
o ffic er is h e reby autho rized and directed to enter into any
d el eg at i on a gre e me nt or s u ch other a greement s a s may b e
n~ces sary and to take all actlon s nec e ssary o r de s irab le in
connect ion with this delegat i on and in connection with s uch
b ond s.
Section 3 . Nothing contai ned i n this ordinance s h a ll
con s titut e th e de b t or i n de bt e dnes s o f the City within the
me aning o f the Co n s t itut io:, o r s tatutes o f t h e Sta te o f
Co l o rad o or t he Char ~er cf the City nor g i ve ri s e to a
p ec un iary l iabi lity ~f the City o r a c h arge ag ainst it s
ge .,e ral credi t o r t axing p ower s.
Sect i on 4 . All c om mitme nts by th e Ci t y h e rein are
s u b j ec t to t he cond i t ion t ha t on o r b efore September 30 ,
19 8 5, t he r evenu e b ond s s h a ll have been issued by the Ci ty o f
La k ew ood , Co lo rado on beh a lf of th e Cit y .
IN TRODUCED AND READ at a r e g u la r ly s c h e du l ed me eti ng r,f
t h e City Council of t he Ci ty o f En glewood o n the 15th day o f
Apr i l, 1985 .
Attest:
-4 -
I