HomeMy WebLinkAbout1981 Resolution No. 033•
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RtSOLUT I Oii llO. JJ._
SEIUES OF 1'81
A RESOLUTIOll RESTRICTllG CASH FOR THE PURPOSE OF A LOAN TO THE ENGLEWOOD HOUSING
AUTHOIUTY.
WHlllAS, the Mousing Authority has requested a loan In the amount of
$7',000 to purcM•• thr .. d•l•x sites; Md
WHDEAS, the req•stecl loan In the ...,unt of $79,000 wl 11 be repaid
by the tlouslnt Authority frOll funds associated with the Department of Housing
and Uri»• Dewla11•nt P•llc Housing Turnkey Program;
llOW, THEREFORE, IE IT RESOLVED IY THE CITY COUNCIL OF THE CITY OF
EIGLEVOOD, COLORADO, AS FOLLOWS:
Section 1.
That the City of Entl•:IOGCI restrict cash of $79,000 In the Public Improve-
ment Fund for the purpose of• cm1h lo.. by August 1, 1981; If a loan Is not •de
by that .S.te, the c .. h would becam •v•ll•ble for general operating purposes again
within the , .. 11c l11Prov1m1nt 'und.
Section 2.
This 1oen 1h911 be secured through a first deed of trust on the property,
Md such other t•,.. and conditions as are necessary to Insure repayment of princi-
pal Md Interest •• the City my require.
Section J.
The 1oen shall be repaid by th• Housing Authority.
Section ...
If the lloulln1 Authority decides to exercise Its option on the property
Md requests the City 1oen, the City Attorney Is authorized to draft the appropri-
ate ordinances and -.re1m1nts to carry out this resolution.
ADOPrED 111111 APPAOVlD TH IS Li!!!_ cley of ~ J _ _ _ , 1981.
~~~~~ "9Yfif -7 . ~ ~ ,
AG eXO-Clo~-~~
I, C.ry R. HI ..... , ex officio City Clerk-Treasurer for the City of
Engl•JOOCI, Color .. , do herelty certify that the above and foregoing Is a true,
.ccurate •d CGllPl•t• copy of Resolution llo. J,,i , Serles of 1981. ...
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