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HomeMy WebLinkAboutResolution-1981-0758 RESOLUTION NO. 758 Series of 1981 TITLE: PBSOLUTION AUTHORIZING THE BOARD OF COUNTY CO~lISSIONEPS OF JEFFERSON COUNTY, COLORADO, TO ISSUE REVENUE BONDS FOP THE PURPOSE OF PROVIDING ADEQUATE RESIDENTIAL HOUSING FACILITIES FOR LOh' AND ~lIDDLE INCOME FA]\lIILIES AND PERSONS ON BEHALF OF THE CITY OF WHEAT RIDGE WHEREAS, pursuant to the County and Municipality Develop- ment Revenue Bond Act, Colorado Revised Statutes Section 29-3-101 et seq., as amended (the "Act"), a county or municipality rray issue revenue bonds to finance residential facilities for low and middle income families and persons; and ~~EREAS, Section 29-3-101 (2) of the Act authorizes any county or municipality of the State of Colorado (the "State") to irrevocably delegate for the term of any bond issue to any other county or municipality of the State authority to act on its behalf in carrying out any of the purposes of the Act; and vlliEPBAS, the Board of County Corrmissioners of Jefferson County, Colorado (the "County") has determined to issue its Single Farr.ily Mortgage Revenue Bonds, (the "Bonds") to finance certain residential facilities located within the County for low and middle income families and persons (the "Project"); and w~EREAS, the Project will benefit the residents of the City of Wheat Ridge (the "Municipality"). NOH, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ~lliEAT RIDGE, COLORADO, as follows: Section 1. The Municipality, pursuant to Section 29-3-101 (2) of the Act, hereby irrevocably delegates to the County for the term of the Bonds the Municipality's authority under the Act to issue revenue bonds for the purpose of financing residential facilities for low and middle income families and persons such as the Project. Section 2. This resolution shall be effective irrlnediately upon its passage. DONE AND RESOLVED this 21st day of Decerrber, 1981. --;- ----:-1;", " ,1,...6..dZ-L , FRANK STITES, !>'!AYOR ATTEST: CLERK