HomeMy WebLinkAbout992824.tiff RESOLUTION
RE: APPROVE EXTENSION OF DATE FOR FIRST PAYMENT - CATHOLIC CHARITIES
AND COMMUNITY SERVICES FARM LABOR HOUSING CORPORATION
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 sits as the Weld County Housing
Authority, and
WHEREAS, on January 25, 1999, the Housing Authority Board approved a loan of State
of Colorado Housing Grant monies to Catholic Charities and Community Services Farm Labor
Housing Corporation, a non-profit corporation organized and existing under and pursuant to the
laws of the State of Colorado, for repayment with interest by February 1, 2033, and
WHEREAS, on January 25, 1999, Catholic Charities and Community Services Farm
Labor Housing Corporation executed a Promissory Note and Deed of Trust promising to repay
the principle sum with interest, and
WHEREAS, the first payment is due February 1, 2000, and
WHEREAS, Catholic Charities and Community Services Farm Labor Housing
Corporation has informed the Board that due to a slower cash flow for the initial few months
than expected, the non-profit corporation will need an extension on the first payment due date
to and until July 1, 2000.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, ex-officio Housing Authority Board, that the first payment under the
Promissory Note and Deed of Trust dated January 25, 1999, be, and hereby is, extended to
and until July 1, 2000.
BE IT FURTHER RESOLVED by the Board that said extension shall not be considered
a material breach of said Promissory Note and Deed of Trust.
992824
n HA0019
RE: EXTENSION OF DATE FOR FIRST PAYMENT - CATHOLIC CHARITIES AND
COMMUNITY SERVICES FARM LABOR HOUSING CORPORATION
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 24th day of November, A.D., 1999.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO sitting as the
WELD COUNTY HOUSING AUTHORITY
BOARD
ATTEST: Ad
�►.le K. Hall, Chair
Weld County Clerk to the ®
mi
BY: rbar J. Kirkmeyer Pr.-Tem t
Deputy Clerk to the Boa jJ ���J�E. f „
Georg E. Baxter
APPROVED AS TO FORM: EXCUSED
M. J. Geile
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Glenn Vaact—--
992824
HA0019
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