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RESOLUTION
RE: APPOINTMENT OF SELECTION COMMITTEE FOR SELECTION OF UNDERWRITER
FOR MORTGAGE REVENUE BONDS.
WHEREAS, the Board of County Commissioners of Weld County, Colorado,
pursuant to Colorado statute and the Weld County Home Rule Charter, is vested
with the authority of administering the affairs of Weld County, Colorado, and
WHEREAS, on February 6, 1980, the Board of County Commissioners of
Weld County, Colorado adopted a resolution stating their intent to issue
revenue bonds for the purpose of financing residential facilities located
within Weld County's boundaries for low and middle income persons or families,
as soon as Federal legislation so permits , and
WHEREAS, even though the Mortgage Subsidy Bond Tax Act of 1980 (H.R. 5741 )
was passed by the House of Representatives on April 26, 1980, there are indi-
cations that local governing bodies should proceed with plans to issue
revenue bonds to finance housing as soon as Federal legislation so permits ,
and
WHEREAS, Section 4 of the resolution adopted on February 6, 1980
specifies that Boettcher and Company, E. F. Hutton, Dain Bosworth, Hanifen,
Imhoff and Sanford, and other underwriters doing business within Weld County
and as selected by the Board will assist in the implementation of Weld
County's program to finance single family residential mortgages to be
originated by any financial institution doing business with Weld County which
desires to participate and to be serviced in such manner as Weld County and
underwriters shall reasonably determine, and
WHEREAS, the Board of County Commissioners of Weld County desire to
designate a Managing Underwriter and Co-managing Underwriters to assist in
the implementation of the program to finance single family residential mort-
gages, and
WHEREAS, the Board of County Commissioners of Weld County, Colorado
deem it necessary and advisable to have a selection committee develop a
request for proposal , interview and recommend a Managing Underwriter to
the Board of County Commissioners , and
800741
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WHEREAS, the selected Managing Underwriter, once selected, would recom-
mend a bond counsel and a nationally recognized housing feasibility consul-
tant firm to the Board of County Commissioners for consideration to work with
the underwriter for the purpose of issuing Mortgage Revenue Bonds, and
WHEREAS, the Board of County Commissioners deems it necessary and ad-
visable to have a selection committee representing major interest in the
County as it relates to Mortgage Bonds in Weld County.
NOW, THEREFORE, BE IT RESOLVED that the following individuals are hereby
named to serve on the Underwriter Selection Committee.
INTEREST INDIVIDUAL
Banking Charles Mann
Savings & Loan Dennis Kohan
Developers David Clarkson
Realtors Gary Sears
Consumers Judy Kron
County Commissioner C. W. Kirby
Director of Finance & Administration Donald D. Warden
County Attorney Thomas 0. David
BE IT FURTHER RESOLVED that it shall be the task of the above committee
to develop a request for proposal , interview and recommend a Managing Under-
writer for the mortgage bonds.
BE IT FURTHER RESOLVED that the above committee will recommend Co-
management Underwriters for the mortgage bond issue.
BE IT FURTHER RESOLVED that the Managing Underwriter and Co-managing
Underwriters recommended must agree to assist in the development of the
mortgage bond issue at no cost to the County including, but not limited to,
underwriting services, bond counsel , and housing feasibility consulting
services, should Federal legislation ultimately prohibit issuance of the
Mortgage Revenue Bonds.
The above and foregoing resolution was, on motion duly made and seconded,
adopted by the following vote on the 14th day of May, A.D. , 1980.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
/ "AC c Cy
C. W. Kirby, Chairman
d
Leonard Roe, Pro-Tem
Norman Carlson
un ar
�.gq�� e K. Ste n ar
ATTEST: /' I1 QArnbot! )
Weld County Clerk and Recorder
and Clerk to the Board,BY:C e uty County C r<
LAj
APPROVED AS TO FORM I
County Attorney
DATE PRESENTED: MAY 19, 1980
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