HomeMy WebLinkAboutResolution-1990-1186
RESOLUTION NO. 1186
Series of 1990
TITLE: A RESOLUTION TO EXTEND RESOLUTION NO. 1139
WHEREAS, the City Council (the "Council") of the City of
Wheat Ridge (the "City"). State of Colorado adopted Resolution
No. 1139, Series of 1989 (the "Original Resolution") at a regular
meeting of the Council held on February 27, 1989, in which
Original Resolution the City agreed, among other things, to issue
up to $10,000,000 of qualified 501(c)(3) bonds or other
obligations (the "Bonds" ) for the use of Baptist Home
Association, a 501(c)(3) organization (the "User") for the
purposes and upon the terms stated in the Original Resolution;
and
WHEREAS, Section 5 of the Original Resolution provided
that the commitments made by the City therein were subject to the
condi tion that on or before one year from the date of the
Original Resolution the City and the User shall have agreed to
mutually acceptable terms for the bonds or other obligations
provided for therein, in an amount not to exceed $10,000,000, and
for the sale and delivery thereof, and Section 7 thereof provided
that the Original Resolution shall be effective for a period of
one year from the date of its adoption; and
WHEREAS, for reasons not reasonably within the control of
the City or the User, the condition contained in Section 5 of the
Original Resolution has not been fUlfilled; and
WHEREAS, the
desires to pursue
Resolution;
User has indicated to the City that it still
the Project, as defined in the Original
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WHEAT RIDGE, COLORADO;
Resolution No,. 1139, Series of 1989 is hereby reaffirmed
in its entirety and shall continue in effect for a period of one
year from the date hereof, including all the terms and conditions
thereof, with the exception that the one-year period referenced
in Section 5 thereof shall be deemed to be the one-year period
beginning on the date this Resolution is adopted by the Council.
DONE AND RESOLVED this 26th day of February, 1990.
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ATTEST: DAN WILDE, MAYOR
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WANDA SANG, CITY CLERK!