HomeMy WebLinkAbout860789.tiff RESOLUTION
RE: INTENT TO TRANSFER ALLOCATED PORTION OF SINGLE FAMILY
MORTGAGE REVENUE BONDS (SERIES OF 1986) UNDER THE COLORADO
UNIFIED BOND CEILING ACT FOR LOCAL ISSUING AUTHORITIES TO
EL PASO COUNTY
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, the Board of County Commissioners of Weld County,
Colorado , (hereinafter referred to as "the County" ) is
authorized by the County and Municipality Development Revenue
Bond Act , constituting Sections 29-3-101 , et seq. , CRS, 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 has taken official action pursuant to
the Act and the Colorado Unified Bond Ceiling Allocation Act ,
constituting Section 324-32-1601 et seq. , CRS, indicating its
intent to issue bonds and has filed a copy of the Resolution
evidencing such official action with the Director of the
Division of Housing in the Department of Local Affairs of the
State of Colorado, and
WHEREAS, the County desires to transfer its allocated
portion of Single Family Mortgage Revenue Bonds to El Paso
County, Colorado, in an amount not to exceed the amount
allocated to the County under the Allocation Act, for El Paso
County, Colorado, to issue such Bonds on behalf of the County.
NOW, THEREFORE, BE IT RESOLVED by the Board of County
Commissioners of Weld County, Colorado, that:
Section 1 . The County hereby transfers to El Paso County,
Colorado, the County' s portion of Revenue Bonds allocated to the
County under the Allocation Act in the amount of $2 , 705 , 810 for
El Paso County, Colorado, to issue Single Family Mortgage
Revenue Bonds on behalf of the County pursuant to the Act by
December 23 , 1986 , in one or more series, for the purchase of
mortgage loans for residential housing facilities for low- and
middle-income families and persons in the County, together with
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Page 2
RE: TRANSFER OF MORTGAGE REVENUE BONDS TO EL PASO COUNTY
the cost 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 authorizes El Paso
County to take all further action on behalf of the County which
is necessary or desirable in connection with such Bonds.
Section 2 . The Director of Finance and Administration is
hereby authorized and directed to enter into any delegation
agreement to such other agreements as may be necessary and to
take all actions necessary or desirable in connection with this
delegation and in connection with such Bonds .
Section 3 . Nothing contained in this Resolution shall
constitute the debt or indebtedness of the County within the
meaning of the Constitution or statutes of the State of Colorado
or the Charter of the County nor give rise to a pecuniary
liability of the County or a charge against its general credit
or taxing powers.
Section 4. All commitments by the County herein are
subject to the condition that on or before December 23 , 1986 ,
the Single Family Mortgage Revenue Bonds shall have been issued
by El Paso County, Colorado, on behalf of the County.
The above and foregoing Resolution was , on motion duly made
and seconded, adopted by the following vote on the 13th day of
August, A.D. , 1986.
BOARD OF COUNTY COMMISSIONERS
ATTEST: n 1 a/A? il;J WELD COUNTY, COLORADO
Weld County Clerk and Recorder _and Clerk to the Board J cqu ine Jo n -on , Chairman
EXCUSED
BY: ` er2A ) L y� " c��/ G on E. Lacy, Pro-Tem
I7)eputy County ClerkitAtt
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APPROVED AS TO FORM: e e R. Brantner
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Frank Yamayc i
860789
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