HomeMy WebLinkAboutResolution-1982-0800
RESOLUTION NO. 800
SERIES OF 1982
TITLE: A Resolution Supplementing Resolutions No. 731 and No. 747,
Series of 1981, by extending the period of effect of said
Resolutions to and including December 31, 1982, within
which Ridge Village Partnership may apply for industrial
development revenue bonds through the City of Wheat Ridge
~mEREAS, the City of viheat Ridge (the "Issuer"), State of
Colorado, is authorized by the County and Municipality Development
Revenue Bond Act, ~ 29-3-101, et seq., C.R.S. 1973, as amended
(the "Act"), to issue industrial development revenue bonds to
finance land, buildings or other improvements and all necessary
and appurtenant real or personal property suitable for cOIT~ercial
or business enterprises in order to develop trade and other
economic activity and to secure and maintain a balanced and stable
economy within the State, which will promote the public health,
welfare, safety, convenience and prosperity of the inhabitants
of the Issuer and the State; and
\\IHEREAS, the Issuer adopted Resolution No. 731 on March 23,
1981, which authorized the issuance of its industrial development
revenue bonds or other obligations (the "Bonds") in a maxirr.um
aggregate principal amount of $4,700,000 to finance a shopping
center (the "Project"), as more fully described therein; and
w~EREAS, the Issuer adopted Resolution No. 747 on October 26,
1981, supplementing Resolution No. 731 and, inter alia, extendin~
the effective date of Resolution No. 731; and
villEREAS, a commitment for the purchase of the Bonds has
been received but the documents cannot be completed before
September 1, 1982; and
WHEREAS, the Project, the maximum aggregate principal amount
of the Bonds and the benefits from the Project are all the same
as contemplated by Resolution No. 731, and the benefits to the
inhabitants of the Issuer and State are the same;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WHEAT RIDGE, COLORADO:
Resolution No. 731 shall be effective through December 31,
1982. With the exception stated in the previous sentence, the
Issuer hereby reaffirms the findings and the resolutions contained
in Resolution No. 731 and Resolution No. 747. Neither the Bonds,
the interest or any premiums thereon, nor anything contained in
this Resolution shall constitute a debt or indebtedness of the
Issuer within the meaning of the Constitution or statutes of the
State of Colorado, nor give rise to a pecuniary liability of
the Issuer or a charge against its general credit or taxing
powers. No costs are to be borne by the Issuer in connection
with the issuance of the Bonds.
9th day of August, 1982.
DONE AND RESOLVED this
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Frank Stites, Mayor
Attest:
Carol F.
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Hamp~~' ~~/ Clerk
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