HomeMy WebLinkAbout870435.tiff 1
STATE OF COLORADO
) SS
COUNTY OF WELD
The Board of County Commissioners of Weld County, Colorado,
met in regular session on May 27 , : 1987 at 9:0'0 atm. at the
Centennial Building, 915 10th Street, in Greeley, Colorado in
full conformity with the law and the resolutions and rules of the
County. Upon roll call, the following were found to be present,
constituting a quorum:
Present:
Chairman of the Board of
County Commissioners: Gordon Lacy
Other Commissioners: C. W. Kirby
Jacqueline Johnson
Gene R. Brantner
Frank Yamaguchi
Absent:
constituting all the members of the Board.
There were also present:
County Clerk: Mary Ann Feuerstein
County Attorney: a Thomas 0. David
Thereupon, the following proceedings, among others, were had
and taken.
Commissioner Kirby introduced a resolution,
the text of which is as follows:
870435
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RESOLUTION DELEGATING TO THE CITY AND COUNTY
OF DENVER, COLORADO THE AUTHORITY OF WELD
COUNTY, COLORADO TO ISSUE REVENUE BONDS TO
FINANCE MORTGAGE LOANS TO PROVIDE MORE
ADEQUATE RESIDENTIAL HOUSING FACILITIES FOR
LOW- AND MIDDLE-INCOME FAMILIES AND PERSONS
WITHIN THE CITY AND COUNTY OF DENVER,
COLORADO, WITHIN WELD COUNTY AND ELSEWHERE IN
THE STATE OF COLORADO.
WHEREAS, Weld County, Colorado ("Weld County") and the City
and County of Denver, Colorado (the "City") are authorized by the
County and Municipality Development Revenue Bond Act, constitut-
ing Article 3 of Title 29, Colorado Revised Statutes (the
"Project Act") , to finance properties to the end that more
adequate residential housing facilities for low- and middle-
income families and persons may be provided; and
WHEREAS, the Project Act and Part 2 of Article 1 of Title
29, Colorado Revised Statutes, provide, in effect, that any
county or municipality may by resolution or ordinance delegate to
any other county or municipality its authority under the Project
Act to finance projects under the Project Act; and
WHEREAS, Weld County desires to delegate to the City its
power under the Project Act to issue revenue bonds to finance
mortgage loans to provide more adequate residential housing
facilities for low- and middle-income families and persons within
Weld County; and
WHEREAS, it is necessary to evidence such delegation and the
acceptance of such delegation by the Delegation Agreement
presented at this meeting (the "Delegation Agreement") which will
be executed and delivered by Weld County and the City.
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF WELD COUNTY, COLORADO:
Section 1. The forms, terms and provisions of the
Delegation Agreement hereby are approved and the Chairman of the
Board of County Commissioners of Weld County and the County Clerk
hereby are authorized and directed to execute and deliver the
Delegation Agreement.
Section 2 . The Chairman of the Board of County
Commissioners and the County Clerk hereby are authorized and
directed to take such other steps or actions as may be required
to carry out the terms and intent of this resolution and the
Delegation Agreement.
Section 3 . Nothing contained in this resolution or in the
Delegation Agreement shall obligate Weld County, except to the
extent described in the Delegation Agreement, nor constitute the
debt or indebtedness of Weld County within the meaning of the
Constitution or statutes of the State or the home rule charter of
any political subdivision thereof, nor give rise to a pecuniary
liability of Weld County or a charge against its general credit
or taxing powers.
Section 4 . If any section, paragraph, clause or provision
of the resolution shall for any reason be held to be invalid or
unenforceable, the invalidity or enforceability of such section,
paragraph, clause or provision shall not affect any of the
remaining provisions of this resolution.
Section 5. All action (not inconsistent with the provisions
of this resolution) heretofore taken by the Board of County
Commissioners and the officers of Weld County directed toward the
authorization of the Delegation Agreement hereby is ratified,
approved and confirmed.
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870435
Section 6 . This resolution shall be in full force and
effect upon its passage and approval.
PASSED, ADOPTED AND APPROVED this 27th day of May, .1987 .
ATTEST: BOARD OF COUNTY COMMISSIONERS
WELD CO T COL ADO
tla4AAA
Mar A Feuers ein Gor , airman
Weld C unty Clerk and Recorder
and Clerk to the Board r IC.W Kirb , Pro- em
Gene dantner
e��s
•
Ja. .ue e Jo•n ?
Frank lamaguchi
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•
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870435,
A motion to adopt the foregoing resolution was then duly
made by Commissioner Kirby and duly seconded by
Commissioner Johnson •
The question being upon the passage and adoption of the
resolution, the. roll ;was called !with the following result:
Those Voting Aye: Gordon Lacy
C.W. Kirby
Jacqueline Johnson
Gene R. Brantner
Frank Yamaguchi
Those Voting Nay:
Those Absent:
Thereupon, the presiding officer declared the motion carried
and the resolution duly passed and adopted.
After other action or business not related to the forgoing
resolution, on motion duly made, seconded and adopted, the
meeting thereupon adjourned.
w
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STATE OF COLORADO
SS.
COUNTY OF WELD
I, Mary Ann Feuerstein, the duly qualified and acting County
Clerk of Weld County, Colorado (the "County") , in the State of
Colorado, do hereby certify:
1. The foregoing pages numbered -1- to -5-, inclusive are
a true, perfect and complete copy of the record of proceedings of
the Board of County Commissioners of the County had and taken at
a lawful meeting of the Board held at the Centennial Building,
915 10th Street, in Greeley, Colorado on May 27 , 1987 at
9: 00 a.m. , as recorded in the regular official book of the pro-
ceedings of the County kept in my office, so far as the proceed-
ings relate to the resolution therein set forth, the proceedings
were duly had and taken as therein shown, the meeting therein
shown was duly held, and the persons therein named were present
at the meeting as therein shown.
2 . All members of the Board were duly notified of the
meeting, pursuant to law.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed
the seal of the County this 27th day of May, 1987 .
Ma7 Coun y Clerk
(SEAL)
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870435
DELEGATION AGREEMENT
THIS DELEGATION AGREEMENT, dated as of May 27, 1987,
is between WELD COUNTY, COLORADO ("Weld County") and the CITY AND
COUNTY OF DENVER, COLORADO (the "City") .
1. Preliminary Statement. Among the matters of mutual
inducement which have resulted in the execution of this
Delegation Agreement are the following:
a. Weld County and the City are each authorized by
the County and Municipality Development Revenue Bond Act,
constituting Article 3 of Title 29, Colorado Revised
Statutes (the "Project Act") , to finance properties to the
end that more adequate residential housing facilities for
low- and middle-income families and persons may be provided.
b. The Project Act and Part 2 of Article 1 of Title
29 , Colorado Revised Statutes, provide, in effect, that any
county or municipality may by resolution or ordinance
delegate to any other county or municipality its authority
under the Project Act to finance projects under the Project
Act.
c. Neither the execution and delivery of this
Delegation Agreement, the consummation of the transactions
contemplated hereby, nor the fulfillment of or compliance
with the terms and conditions of this Delegation Agreement
conflicts with or results in a breach of any of the terms,
conditions or provisions of any legal restriction or any
agreement or instrument to which Weld County or the City is
now a party or by which Weld County or the City is bound, or
constitutes a default under any of the foregoing.
2 . Delegation by Weld County. Weld County hereby
delegates to the City all authority of Weld County to finance and
otherwise take action and exercise power under the Project Act on
behalf of Weld County with respect to the financing of mortgage
loans to provide more adequate residential housing facilities for
low- or middle-income families and persons within Weld County.
3 . Acceptance of Delegation by the City. The City hereby
accepts the delegation granted to it by Weld County and agrees
that it will finance mortgage loans to provide more adequate
residential housing facilities for low- and middle-income
families and persons within the City and Weld County.
4 . General Provisions. This Delegation Agreement is
hereby declared irrevocable during the term of the financing
agreements to be entered into by the City and the financial
870435
institutions which will originate and service the mortgage loans,
and this Delegation Agreement shall terminate upon the
termination of such financing agreements. Whenever possible each
provision of this Delegation Agreement shall be interpreted in
such manner as to be effective and valid under applicable law,
but if any provision of this Delegation Agreement shall be
prohibited by or invalid under applicable law, such provision
shall be ineffective to the extent of such prohibition or
invalidity, without invalidating the remainder of such provision
or the remaining provisions of this Delegation Agreement.
IN WITNESS WHEREOF, the parties hereto have entered into
this Delegation Agreement as of the year and day first above
written.
WELD COUNTY, COLORADO
By
i the Board of
County ommissioners
[SEAL]
Attest:
7n�q /f�,
/� County lerk
U CITY AND COUNTY OF DENVER, COLORADO
By
Mayor
[SEAL]
Attest:
Clerk and Recorder
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APPROVED:
Stephen H. Kaplan
Attorney for the City and
County of enver, Colorado
By
C y ttorney
Countersigned and
� Registered
�
BY (173/4749
ne4( e-.62-t
Auditor
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