HomeMy WebLinkAbout860530.tiff COUNTY OF WELD, COLORADO
SERIES OF 1986
A RESOLUTION OF WELD COUNTY, COLORADO SETTING FORTH THE
INTENT OF THE WELD COUNTY, COLORADO, TO ISSUE SINGLE FAMILY
MORTGAGE REVENUE BONDS TO FINANCE A SINGLE FAMILY MORTGAGE
PURCHASE PROGRAM WITHIN THE COUNTY.
WHEREAS, Weld County, Colorado (the "County" ) , is
authorized by the County and Municipality Development Revenue
Bond Act, constituting Sections 29-3-1O1 et seq. , Colorado
Revised Statutes (the "Act" ) , to finance, refinance, acquire,
own, lease, improve and dispose of properties to the end that
more adequate residential housing facilities for low-and
middle-income families and persons may be provided, which
promote the public health, welfare, safety, convenience and
prosperity; and
WHEREAS, the County deems it necessary and advisable
that a program be made available for the origination and
servicing of mortgage loans for residential housing
facilities for low-and middle-income families and persons in
the County (the "Mortgage Loans" ) in order to increase the
supply of money available for mortgages so that families and
persons of low-and middle-income may finance the purchase of
residential housing facilities at less than the prevailing
market interest rate, thereby providing more adequate
residential housing facilities for low-and middle-income
families and persons within the County; and
WHEREAS, the County desires to take the necessary
actions to authorize, issue, sell and deliver its revenue
bonds pursuant to the Act in an amount determined by the
County in one or more series, to finance the purchase of
Mortgage Loans, together with the costs of funding any
reserve funds in connection with the revenue bonds and costs
incidental to the authorization, issuance and sale of the
revenue bonds; and
WHEREAS, the action herein contemplated is not
prohibited by the County' s Charter.
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF WELD COUNTY, COLORADO:
f DJD / 860530
Section 1 . The County intends to issue, or have issued on
its behalf, revenue bonds pursuant to the Act in an amount not to
exceed $10 , 205,810 or such other amount determined by the County
under the Act, in one or more series , for the purchase of Mortgage
Loans, together with the costs of funding any reserve funds in
connection with the revenue bonds and costs incidental to the
authorization, issuance, and sale of the revenue bonds, and will
take all further action which is necessary or desirable in
connection with such bonds.
Section 2. The County' s officers are hereby authorized and
directed to file a copy of this resolution with the Director of
the Division of Housing in the Department of Local Affairs of the
State of Colorado and to take all actions necessary or desirable
in connection with such bonds.
The above and foregoing Resolution was, on motion duly made
and seconded, adopted by the following vote on the 4th day of
June, A.D. , 1986 .
.y� 10 BOARD OF COUNTY COMMISSIONERS
ATTEST: ./j� ,maa-Sul;;,,, "1,.rt./ WELD COUNTY, COLORADO
Weld County jerk and Recorder \, `►..
and Clerk to the Board %acqu-Z in= .'J•h son Chairman
9
C . • ac , P -Tem
D puty County reek
APPR VED AS TO FORM: =neR. Bran ner
e
C.W. Kirby' /
;71;.L t
County Attorney `,/
r c gu
• •
REQUEST FOR ALLOCATION FROM
STATEWIDE BALANCE FOR NONESSENTIAL
FUNCTION BONDS*
1. ISSUING AUTHORITY •
(a) Weld County, Colorado
Name
(b) 915 10th Street, GreeIav, Colorado 80632
Address
(c) Jacaueline Johnson (d) 356-4000
Issuing Authority Officer Telephone Number
(Name and Title)
Commission Chairman
2. BOND COUNSEL FIRM
(a) Kutak Rock & Campbell
Name
(b) 707 17th Street., Suite 2400, Denver, Colorado 80202
Address
(c) Fame)a A. Gibson-Mull (d) 297-2400
Individual Responsible Telephone Number
Attorney
3. PROJECT FOR WHICH ALLOCATION REQUESTED
(a) Single ramily Mortaaae _Revenue Bonds
Nature and location or purpose
(b)
Initial Owner, User or Beneficiary of Project
(c) Type of bonds to be using allocation (check one below):
tax increment
industrial development
single family mortgage
multifamily housing
501(c)(3)
4. AMOUNT OF ALLOCATION REQUESTED: $ 7 , 500 , 000
3. DATE OF ADOPTION OF INDUCEMENT RESOLUTION: June 4, 1986
I understand that applications which are incomplete, including required
attachments, will not be processed for allocations from the statewide balance
to issue nonessential function bonds; and
To the best of my knowledge, the foregoing information and the
attachments hereto are true and correct.
(Sign
Is uthori Officer (listed
ATTACHMENTS:ATTACNTS: No. 1(c) above
- Certified copy of INDUCEMENT RESOLUTION as required by
Section 24-32-1609(1)(h), C.R.S.
- Preliminary Bond Counsel OPINION as required by Section 24-32-1609(1)(g),
C.R.S.
- If applicable, preliminary Bond Counsel OPINION as required by Section 24-32-1408(2)(a), C.R.S. 13c;0730
* If request is for essential function bonds which under part 14 of title
24 of article 32, C.R.S. are also "private activity bonds," you are not
required to file an additional request form with the Department.
REPORT OF ADOPTION
OF INDUCEMENT RESOLUTION
REGARDING NONESSENTIAL FUNCTION BONDS
AS REQUIRED BY SECTION 24-32-1606, C.R.S.
1. ISSUING AUTHORITY OR ASSIGNEE
(a) Weld County. Colorado
Name
(b) 915 10th Street. Greelev. rolnradn 80612
Address
(e) Jacqueline Johnson (d) 356-4000
Issuing Authority Officer Telephone Number
(Name and Title)
Commission Chairman
2. BOND COUNSEL FIRM
(a) Kutak Rork & Ciampi-14=11
Name
(b) 707 17th Street. Suite 2400 . nenvar rnlnrarin R0202
Address
(c) Pamela A. Gibson-Mull (d) 297-2400
Individual Responsible Telephone Number
Attorney
3. PROJECT WHICH IS SUBJECT OF INDUCEMENT RESOLUTION
(a) Single Family Mortgage Revenue Bondc
Nature and location or purpose
(b)
Initial Owner, User or Beneficiary of Project
(c) Type of bonds to be issued (check one below):
tax increment
industrial development
x single family mortgage
multifamily housing
5O1(c)(3)
4. AMOUNT OF INITIAL ALLOCATION TO BE USED (if applicable, include
allocations assigned to Project from other issuing authorities and attach
schedule setting forth list of assignments): $ 2. 705 . 810
5. DATE OF ADOPTION OF INDUCEMENT RESOLUTION: June 4. 1986
(Unless combined with allocation from statewide balance, bonds must be
issued within 90 days of above date or initial allocation relinquished.)
To the best of my knowledge, the foregoing information and the
attachments hereto are true and correct.
(Signed\_c
Iss ing uthor ty Officer (listed
�. No. 1(c . . • )
�p Y—.fl
Date
REQUIRED ATTACHMENTS
- Certified copy of INDUCEMENT RESOLUTION 4n^.-.a .70.
- Schedule of Assignments, if applicable
DLG-160A-1986
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