HomeMy WebLinkAboutResolution-1999-0009
RESOLUTION NO 09
SERIES 1999
TITLE:
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO SIGN
THE INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF
MOUNT AlN VIEW AND THE CITY OF WHEAT RIDGE REGARDING USE BY
THE TOWN OF MOUNT AlN VIEW OF CITY OF WHEAT RIDGE PARK AND
RECREATION FACILITIES AND PROGRAMS
WHEREAS, The Town of Mount am View wishes to be a partner In the construction
of the Wheat Ridge RecreatIon Center and,
WHEREAS, The Town of Mountain View seeks to have Wheat Ridge accept its
reSIdents as eligible for City Parks and Recreation activities and,
WHEREAS, The City of Wheat Ridge wishes to have the Town of Mountain View
is a partner in the construction of the Recreation Center and,
WHEREAS, The City of Wheat RIdge will accept payment of the $100,000 as
speCIfied in the Intergovernmental Agreement and,
NOW THEREFORE BE IT RESOL VED THAT
Sec, 1 The Mayor of the CIty of Wheat RIdge IS hereby authonzed to execute an
Intergovernmental Agreement With the Town of Mountain View, Colorado to be a partner in the
construction of the Recreation Center and use of the RecreatIon Center and other Parks and
Recreation programs and facilities at the resident rate
DONE AND RESOLVED THIS 15th day of March
,1999
t .... J .1 ( { :-;' '\.: /,1, i >' P J
,
GRETCHEN CERVENY, MAYOR
ATTEST
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WANDA SANG, CITY CL
INTERGOVERNMENTAL AGREEMENT BETWEEN THE TOWN OF MOUNTAIN VIEW
AND THE CITY OF WHEAT RIDGE REGARDING USE BY THE TOWN OF MOUNTAIN
VIEW OF CITY OF WHEAT RIDGE PARK AND RECREATION FACILITIES AND
PROGRAMS
?P
THIS AGREEMENT is entered into this I $' day of
~~cU ,1999, by and between the TOWN OF MOUNTAIN VIEW,
COLORADO, a municipal corporation (hereinafter referred to as
"Mountain View" or the "Town") and the CITY OF WHEAT RIDGE,
COLORADO, a municipal corporation (hereinafter referred to as
"Wheat Ridge" or the "City"), and collectively referred to as "the
Parties."
WHEREAS, Mountain View and Wheat Ridge are duly incorporated
under the laws of the State of Colorado and are authorized to enter
into this Intergovernmental Agreement under Colo. Rev. Stat. ~~29-
3-201, et seq.
WHEREAS, Mountain View seeks to have Wheat Ridge accept its
residents as eligible for City Parks and Recreation activities;
WHEREAS, Wheat Ridge is willing to accept payment of $100,000
as specified herein in return for accepting Mountain View residents
as eligible for such activities, subject to the terms and
conditions of this Agreement.
NOW THEREFORE, in consideration of the foregoing recitals and
mutual covenants and promises set forth below, and other good and
valuable consideration, the sufficiency of which is hereby
acknowledged, Mountain View and Wheat Ridge agree as follows:
1. Mountain View agrees to pay to Wheat Ridge the amount of
$100,000 in ten (10) Annual Installments of Ten Thousand
($10,000.00) Dollars, the first such installment due on March 15,
1999, and the subsequent installments due on or before March 15 of
each calendar year thereafter (hereinafter the "Annual Installment
Date"), subject to the terms and conditions of this Agreement.
2. Wheat Ridge agrees to honor and accept all Mountain View
residents as entitled, in the same manner and for the same rates
and charges as Wheat Ridge residents, the use of all Wheat Ridge
Recreation Department programs and facilities, commencing on March
15, 1999, and each year thereafter upon acceptance by Wheat Ridge
of the Annual Installment.
3. Mountain View shall provide to Wheat Ridge evidence of its
residents by March 15, 1999; and Wheat Ridge shall be entitled to
rely upon that evidence as conclusive. Upon full payment of the
$100,000 total obligation, Mountain View shall continue to be
entitled to the rights granted by this Agreement without further
3/5/99
U \USERS\MTN\IoGR\REC3,AGR
payment or other consideration, subject to the terms and conditions
of this Agreement.
4. Termination.
a. Either party may terminate this Agreement by giving
written notice to the other at least sixty (60) days prior to the
next ensuing Annual Installment Date. In the event of such notice,
the rights and obligating of the Parties shall expire on the Annual
Installment Date. Notwithstanding anything to the contrary
contained herein, in the event that Wheat Ridge terminates this
Agreement within twenty (20) years of the date of this Agreement,
Wheat Ridge shall refund to Mountain View the amount specified in
the schedule that is attached as Exhibit A and incorporated by this
reference (the "Termination Amount")
b. In the event a notice of termination is given at any
other time, such notice shall be effective no earlier than thirty
(30) days following the date of the notice. In the event of
termination pursuant to this subsection b. the rights and
obligations of the parties shall expire on the effective date of
the notice and Wheat Ridge shall refund to Mountain View that
fraction of the prior Installment Payment which bears to the
remaining period of the then current Installment Year, together
with the Termination Amount. Nonappropriation by Mountain View
shall be considered a notice of termination under this paragraph.
5. Notices. Any notice required or allowed by this Agreement
shall be given by placing the same in the United States mail, first
class postage prepaid, addressed as follows:
If to Wheat Ridqe:
City of Wheat Ridge
7500 West 29th Avenue
Wheat Ridge, CO 80215
Attention: City Manager
with a copv addressed to:
City of Wheat Ridge
7500 West 29th Avenue
Wheat Ridge, CO 80215
Attention: Director of Parks and Recreation
If to Mountain View:
- 2 -
3/5/99
U \USERS\MTNI/oGR\REC3,AGR
Town of Mountain View
4176 Benton
Mountain View, CO 80212
Attention: Mayor
6. By entering into this Agreement, neither Wheat Ridge nor
Mountain View shall be considered as acting for the other or as an
agent for the other. The Parties agree that they are and shall
remain responsible for their own negligent acts and omissions.
7. Accounting. On or before March 15 of each year, Wheat Ridge
shall provide to Mountain View an accounting of the Wheat Ridge
Recreation Department programs and facilities that were used by
Mountain View residents.
8. Effective Date. This Agreement shall be effective upon
receipt by Wheat Ridge of the first Annual Installment.
IN WITNESS WHEREOF, the Parties have executed this Agreement
on the date first above written.
TOWN OF MOUNTAIN VIEW, COLORADO
Be~~)~-;a!n ~:;t~,~;(ay~
ATTEST:
,
Clerk
CITY OF WHEAT RIDGE, COLORADO,
a municipal corporation
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3/5/99
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EXHIBIT A
CALCULATION OF TERMINATION AMOUNT
YEAR OF TERMINATION TERMINATION AMOUNT
Year 1 See Paragraph 4.b.
Year 2 $10,000.00
Year 3 $15,000.00
Year 4 $20,000.00
Year 5 $25,000.00
Year 6 $30,000.00
Year 7 $35,000.00
Year 8 $40,000.00
Year 9 $45,000.00
Year 10 $50,000.00
Year 11 $45,000.00
Year 12 $40,000.00
Year 13 $35,000.00
Year 14 $30,000.00
Year 15 $25,000.00
Year 16 $20,000.00
Year 17 $15,000.00
Year 18 $10,000.00
Year 19 $5,000.00
Year 20 See Paragraph 4.b.
3/5/99
U IUSERS\MTN\AGR\REC3,AGR
EXHIBIT A
COllllcllpcrsoll Worth
moved the adoptIOn of the followmg resolution.
RESOLUTION NO. --.l.o
A RESOLLTTlO]\; AUTHORIZING THE DELEGATION TO THE CITY AND
CO[I,\;T\ OF DENVER, COLORADO OF THE AUTHORITY OF THE CITY OF
WHL\T RIDGE, COLORADO, WITH RESPECT TO THE ISSUANCE OF
SI"\C,LE FAMILY HOME MORTGAGE REVENUE BONDS (THE "BONDS")
TO Fl1\ANCE RESIDENTIAL HOUSING FACILITIES FOR LOW- AND
MIDDLF-I0!COME PERSONS AND FAMILIES WITHIN THE CITY AND
CERTAI\' OTHER CITIES AND COUNTIES IN THE STATE OF COLORADO;
APPRo\ I\!G SUCH BONDS AND SUCH SINGLE FAMILY MORTGAGE
L(i.l" '\ PROGR.A.M, AND AUTHORIZING THE EXECUTION AND DELIVERY
01 \ DELEGATION AGREEMENT AND OTHER DOCUMENTS IN
CC l^', '\HTI01\' THEREWITH.
\\ HfRE \S the CIty of Wheat RIdge, Colorado (the "CIty"), and the CIty and County of
Denver, (olorado (the "Issuer"), are each authonzed by the County and MUnICIpalIty
DevelopmeI1l RC\'enlle Bond Act, constltutmg artIcle 3 of tItle 29, Colorado ReVIsed Statutes, as
amended (the.: "\ct"), to finance proJects as defined m the Act, mcludmg reSIdentIal housmg
faCIlItIes j(Jr ]0\\ - and 111lddle-mcome persons and familIes, and
\\ l-IERE.\S, SectIOn 29-3-104(2) of the Aet proVIdes that a county or mUnICIpalIty may
delegatc h' re.:sl,llltlon or ordmance, as the case may be, to any other county or mUnICIpalIty the
authonty to act on ItS behalf m the financmg of proJects under the Act and that any such
delegatIOn ma\ he gcneral or lImIted m scope and tIme, and may be Irrevoeable for the term or
terms of ~1l1) fll1dncmg agreement or bond Issue, all as proVIded m such resolutIOn or ordmance;
and
WI-1I-' REAS thc Issuer proposes to Issue smgle family home mortgage revenue bonds
pursuant tu the Act (thc "Bonds") to finance reSIdentIal housmg faeilItIes for low- and
mlddlc-lI1cl'llle.: persons and famIlIes wlthm the CIty and other cItIes and eountles m the State of
Colorado (the' "S II1gle FamIly Mortgage Loan Program"), and
\\ III RL \ '> the City deSIres to delegate to the Issuer the authonty of the CIty to finance
and othe]'\\ I "e.: taLc action and exerCIse power under the Act on behalf of the CIty WIth respect to
the Smglc LIl111l \ i\'lortgagc Loan Program wlthm the CIty; and
\\ l-lERE,\S, It IS necessary to eVIdence such delegatIOn by the executIon and delIvery by
the CIty or d DelegatIon Agreement (the "DelegatIOn Agreement") between the CIty and the
Issuer 111 suhstanlially the form presented at thIS meetmg;
02-29b')l) I) I
NO\\, THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WHL\ T RIDGE. COLORADO
Section 1 In order to facIlItate the ongmatlOn of smgle famlly mortgage loans wlthm the
boundanc-; II: tlL C It: as part of the Smgle Famtly Mortgage Loan Program, the CIty hereby (a)
delegates lt1 tilc ISSUer the authonty of the CIty to finance and otherWIse take action and exercIse
power under thl' -\ct on behalf of the City wIth respect to the Smgle Famtly Mortgage Loan
Program II Ilhll1 the CIlY and (b) approves, and authonzes and dIrects the Mayor of the CIty to
sign and de\l\ er and the Clty Clerk to attest and delIver, the DelegatlOn Agreement m
substantIa II) the form presented at thIS meetmg, A copy of the proposed DelegatIon Agreement
IS on file III the office ofthe CIty Clerk and IS available for mspectlOn by the publIc
Section:! The CounCIl hereby approves the Bonds and the Smgle FamIly Mortgage
Loan Pro!lra11l tl)r purposes ofSeetlon 147(f) of the Internal Revenue Code of 1986, as amended.
Section 3 The Mayor of the CIty IS hereby authorIzed and djrected to exeeute and
dehver and the CIty Clerk IS hereby authorIzed and dIrected to attest and dehver sueh other
agreements and Lcrtlficates and to take such other actions as may be necessary or convement to
earry out al1d gIve effect to the Delegation Agreement and thIS ResolutIon, mcludmg any
agreement or ccrtdlcate approvmg the Bonds or the Smgle FamIly Mortgage Loan Program for
purposcs l) f C;ect I 011 14 7( f) of the Internal Revenue Code of 1986, as amended.
Section -I '\othll1g contamed m thIS ResolutIOn or the DelegatIon Agreement shall
eonstIlutc ,I ,le-h: Il1dehtedness or multIple-fiscal year dIrect or ll1dlrect debt or other finanCIal
obhgatlOl1 ,) r the City wlthm the meamng of the ConstItutIOn or statutes of the State of Colorado
or the home wk charter of any polItIcal subdIvIsIOn thereof, nor give nse to a pecumary habllIty
of the Clt' UI ,I (l1c\rge agamst its general credit or taxmg powers.
Section:; I f all: sectIOn, paragraph, clause or provIsIOn of thIS ResolutIOn shall for any
reason be he Id to be lI1valId or unenforceable, the mvahdlty or unenforceabIllty of any such
sectIon, p,\l'~\gr~\ph clause or provIsIon shall not affect any of the remammg provIsIOns of thIS
Resoluttotl
Section (J TIm ResolutIOn shall be 111 full force and effeet upon ItS passage and approval.
02-296()() \J)
A-2
ADOPTLO BY THE CITY COUNCIL THIS 22nIDA Y OF March.-. . 1999
02~2969l) III
(~0i (J{
May~r
J
A-3
/G
I 1 e J..U A .( u.. ~
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CERTIFICATE OF THE CITY OF WHEAT RIDGE, COLORADO
RelatIng to
CIty and County of Denver, Colorado
SIngle FamIly Home Mortgage Revenue Bonds
(Metro Mayors Caucus SIngle FamIly Mortgage Bond Program)
1999 Senes A and 1999 Senes B
The undersIgned Mayor and CIty Clerk of the CIty of Wheat RIdge, Colorado (the
"CIty") hereby certIfy that:
1 Resolution, Attached hereto as ExhibIt A IS a true and eorreet copy of a ResolutIOn
of the CIty CouncIl of the CIty (the "CouncIl") that was adopted by the CouncIl In accordance
\vlth applicable law on the date IndIcated thereIn (the "ResolutIOn") All meetIngs of the CouncIl
at whIch actIOn relatIng to the ResolutIOn was taken were properly notIced m the manner and at
the tImes reql1lred by law, were open at all tImes to the general publle and were attended by a
quorum of the CouncIl. The ResolutIOn has been sIgned, attested, sealed and made a permanent
part of the records of the Councilm accordanee wIth applIcable law; IS m full force and effect;
and has not been amended, modIfied or repealed smce ItS adoptIon.
2 Delegation Agreement. Attached hereto as Exhibit B IS a true and correct copy of a
DelegatIon Agreement dated as of the date mdlcated therem (the "DelegatIOn Agreement")
between the CIty and the CIty and County of Denver, Colorado (the "Issuer") The DelegatIOn
Agreement has been duly authonzed, executed and delIvered by the CIty and, upon due
authonzatlOn, executIOn and delIvery by the Issuer, WIll constitute a valId and bmdmg oblIgatIOn
ofthe partIes, enforceable agamst the partIes m aecordance wIth ItS terms.
3. Approval of Bonds and Project. A publIc heanng on behalf of the CounCIl, the CIty
and the Issuer was held m the Office of Plannmg and Development for the CIty and County of
Denver, Denver, Colorado At such publIc heanng, all mterested persons were gIven an
opportumty to express theIr VIews, both orally and m wntmg, on the proposed Issuance of the
Bonds and the location and nature of the Smgle Family Mortgage Loan Program, The Council
has receIved a report of the heanng. The underSIgned Mayor of the CIty, as the chIef elected
executIve offieIaI of the City actmg as such after such publie heanng, hereby approves the Bonds
and the SIngle FamIly Mortgage Loan Program, whIch approval IS mtended to comply wIth the
provIsIons of SectIOn 147(f) of the Internal Revenue Code of 1986, as amended.
o DMXPl' OOl'S\DE:\V LR\2 %<J<J\ 1
11\ \\'IT~ESS \VHEREOF, we have hereunto set our hands thiS
JI\(~R. ,1999
02~2q()l)'J.()\
2
EXHIBIT B
DELEGATION AGREEMENT
T]115 DELEGATION AGREEMENT (thIS "DelegatIOn Agreement") IS between the CITY
OF Vv'HE.-\ T RIDGE, COLORADO, a mUl1lclpal corporatIOn and home rule cIty of the State of
Colorado (the '"( n} "), and the CITY AND COUNTY OF DENVER, COLORADO, a home rule
cIty and a l11ul1lcipal corporatIon of the State of Colorado (the "Issuer")
RECITALS
\VHEREAS, the CIty and the Issuer are each authonzed by the County and MUl1lclpalIty
Development Re\ enue Bond Act, constItutIng artIcle 3 of tItle 29, Colorado ReVIsed Statutes, as
amended (the ",-\et"), to finance projects as defined In the Act, includIng residentIal hous1l1g
facIlItIes fl,r 10\\ - and ImddIe-mcome persons and famIlIes, and
WJlEREAS, SectIOn 29-3-104(2) of the Act provIdes that a county or mumclpalIty may
delegate 11\ resolution or ord1l1ance, as the case may be, to any other county or mumclpalIty
authonty to act on as behalf 111 the financmg of projects under the Aet and that any sueh
delegatIon may be general or lImIted m scope and tIme and may be Irrevocable for the term or
terms of an" financlIlg agreement or bond Issue, all as provided In such resolution or ordInance;
and
WHEREAS, the Issuer proposes to issue smgle famIly home mortgage revenue bonds
pursuant to the Act (the "Bonds") to finance resIdentIal hOUSIng facIlIties for low- and mlddle-
ineome persons and familIes wlthm the CIty and other CItIes and countIes In the State of
Colorado (the: "Smgle FamIly Mortgage Loan Program") and
WHEREAS, the CIty deSires to delegate to the Issuer the authonty of the CIty to finance
and other\\! se take action and exercIse power under the Act on behalf of the CIty wIth respect to
the Smgle Family Mortgage Loan Program wIthin the City.
NO \\' THEREFORE, In consideratIon of the mutual covenants and undertakings set forth
herem, the lily and the Issuer hereby agree as follows.
Sectioll 1. The CIty hereby delegates to the Issuer the authonty ofthe CIty to finance and
otherwIse tAc action and exercIse power under the Act on behalf of the City wIth respect to the
Smgle Fanlb \lortgage Loan Program wlthm the CIty
Sectioll 2. The Issuer hereby accepts the delegatIOn of authonty from the CIty pursuant
to SectIOn 1 hereof and agrees to abIde by each of the terms and condItIOns of thIS DelegatIOn
Agreement 111 connection WIth the use of such delegation, The Issuer agrees to make available to
the CIty no I.iter than , 1999, a portIOn of the proceeds of the Bonds for
the onglllatlon of home mortgages wlthm the CIty's boundanes.
02.29699 (I]
[SEAL]
Attest.
By
Clerk and Recorder
Approved as to form
By
CIty Attorne)
CountersIgned
By
Audltl>!
02,2969'101
and the Issuer have caused this DelegatIOn
, 1999
CITY OF WHEAT RIDGE, COLORADO
B(j;d /..u tZ" ":j
CITY AND COUNTY
COLORADO, as Issuer
OF
DENVER,
By
Mayor
B-2
EXHIBIT A
Council person Worth
moved the adoptIOn of the followll1g resolutIOn,
RESOLUTION NO. JO
A RESOLUTION AUTHORIZING THE DELEGATION TO THE CITY A;\,TD
COl'\,'TY OF DENVER. COLORADO OF THE AUTHORITY OF THE CITY OF
WHEA T RIDGE, COLORADO, WITH RESPECT TO THE ISSUANCE OF
SIT\GLE FAMILY HOME MORTGAGE REVENUE BONDS (THE "BONDS")
TO FlKtu"lCE RESIDENTIAL HOUSING FACILITIES FOR LOW- AND
MIDDLE-INCOME PERSONS AND FAMILIES WITHIN THE CITY AND
CERTAr\' OTHER CITIES AND COUNTIES IN THE STATE OF COLORADO;
i\PPRO\'ING SUCH BONDS AND SUCH SINGLE FAMILY MORTGAGE
LOA\,' PROGRAM, AND AUTHORIZING THE EXECUTION AND DELIVERY
OF '\ DElEGATION AGREEMENT AND OTHER DOCUMENTS IN
CO:\'\,'ECTION THEREWITH.
WHEREAS the CIty of Wheat RIdge, Colorado (the "CIty"), and the CIty and County of
Denver, Colorado (the "Issuer"), are each authonzed by the County and MumelpalIty
Development Revenue Bond Act, constltutmg artIcle 3 of tItle 29, Colorado ReVIsed Statutes, as
amended (the: ";\c1"), to finance projects as defined m the Act, mcludmg reSldentlal housmg
facilItIes for 10\\- and Imddle-mcome persons and familIes, and
\VHEREAS, SectIon 29-3-104(2) of the Act provides that a county or munieipality may
delegate b: resolutIOn or ordmance, as the case may be, to any other county or mumclpalIty the
authonty to act on Its behalf m the financmg of projects under the Act and that any such
delegatIOn may be general or lImIted III scope and tIme, and may be Irrevocable for the term or
terms of an) financmg agreement or bond Issue, all as proVIded m such resolutIOn or ordmance;
and
WHEREAS, the Issuer proposes to Issue single famIly home mortgage revenue bonds
pursuant to the Act (the "Bonds") to finance reSIdentIal housmg facIlItIes for low- and
mlddle-mcome persons and famIlIes wlthm the CIty and other cIties and eounties in the State of
Colorado (the "Sll1gle FamIly Mortgage Loan Program"), and
WH EREA.S the CIty deSires to delegate to the Issuer the authonty of the City to finance
and othef\\ Ise take actIOn and exercIse power under the Act on behalf of the CIty with respect to
the Smglt: Fan1l1y Mortgage Loan Program wlthm the CIty; and
WHEREAS, It IS necessary to eVIdence such delegatIOn by the executIOn and delivery by
the CJty of a DelegatlOn Agreement (the "DelegatIOn Agreement") between the CIty and the
Issuer m substantIally the form presented at thiS meetmg;
02,296990 I
l\0\\'. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF \-\THEA T RIDGE. COLORiillO'
Section 1 In order to facIlitate the ongmatlOn of smgle family mortgage loans wlthm the
boundanes o~'thc Clly as part of the Smgle FamIly Mortgage Loan Program, the City hereby (a)
delegates to the Issuer the authontv of the Citv to finance and otherWise take actIOn and exerCIse
~ ,-
power under the ';'ct on behalf of the CIty WIth respect to the Smgle FamIly Mortgage Loan
Program \\'lth111 the City and (b) approves, and authorizes and dIrects the Mayor of the City to
SIgn and deh\er and the City Clerk to attest and delIver, the DelegatlOn Agreement m
substantra II) the fonn presented at this meetmg. A copy of the proposed DelegatlOn Agreement
IS on file III the ofiice of the CIty Clerk and IS aVaIlable for mspectIon by the publIc
Section:2 The CounCIl hereby approves the Bonds and the Smgle FamIly Mortgage
Loan Progr~llll for purposes of SectIOn 1 47(f) of the Internal Revenue Code of 1986, as amended,
Section 3 The Mayor of the CIty IS hereby authonzed and dIrected to execute and
delIver and the CIty Clerk IS hereby authonzed and duected to attest and deliver such other
agreements and certIficates and to take such other aetlOns as may be necessary or convement to
carry out and gwe effect to the DelegatIOn Agreement and thIS ResolutlOn, mcludmg any
agreement or cerllficate approvmg the Bonds or the Smgle FamIly Mortgage Loan Program for
purposes of Section 147(f) of the Internal Revenue Code of 1986, as 'amended,
SectiolJ 4 '\'othmg contamed m thIS ResolutIOn or the DelegatIOn Agreement shall
constllute a deb: llldebtedness or multIple-fiscal year dIrect or indIrect debt or other financIal
oblIgatIOn 0 f the CIty wlthm the meamng of the ConstItutIOn or statutes of the State of Colorado
or the home \'\lle charter of any polItical subdIVIsion thereof, nor gIve nse to a pecumary lIabIlIty
of the Cll) 01 a charge agamst Its general eredlt or taxmg powers,
Section 5 If any seetlOn, paragraph, clause or proviSIOn of thIS ResolutlOn shall for any
reason be held to be Il1vahd or unenforceable, the mvalIdlty or unenforceabilIty of any such
sectIOn, paragraph, clause or provIsIon shall not affect any of the remammg provIsIons of thiS
Resolution
Section 6 ThIS ResolutIOn shall be m full force and effect upon ItS passage and approval.
02-2969{) {j i
A-2
ADOPTED BY THE CITY COUNCIL THIS
,1999
02-29(lN.O 1
A-3
EXHIBIT B
DELEGATION AGREEMENT
TIllS DELEGA nON AGREEMENT (thIs "DelegatIOn Agreement") IS between the CITY
OF \VHE.-\ T RIDGE, COLORADO, a mUnIcIpal corporatIOn and home rule CIty of the State of
Colorado Ithe "City"), and the CITY ANTI COUNTY OF DENVER, COLORADO, a home rule
cIty and a munIcipal corporatIOn of the State of Colorado (the "Issuer")
RECITALS
\VHEREAS, the CIty and the Issuer are eaeh authonzed by the County and MUnIclpal1ty
DevelopmeIH Re\ enue Bond Act, constitutmg artIcle 3 of tItle 29, Colorado ReVIsed Statutes, as
amended (the "Act"), to finance projects as defined in the Act, includIhg residentIal housmg
facil1tles for 10\\ - and 111lddle-mcome persons and familIes; and
WHEREAS, SectIOn 29-3-104(2) of the Act provides that a county or mUnICIpalIty may
delegate b: resolutIOn or ordmance, as the case may be, to any other county or mUnICIpalIty
authority to act on Its behalf m the financmg of projects under the Act and that any such
delegatIOn may be general or lImIted ill scope and Hme and may be mevocable for the tenn or
tenns of an: financmg agreement or bond Issue, all as provided in such resolutIOn or ordmance;
and
WHEREAS, the Issuer proposes to Issue smgle family home mortgage revenue bonds
pursuant to the Act (the "Bonds") to finance reSIdentIal housmg facilItIes for low- and mlddle-
mcome persons and famll1es wlthm the CIty and other CIties and counties m the State of
Colorado (the "SIl1gle FamIly Mortgage Loan Program") and
WHEREAS, the CIty deSIres to delegate to the Issuer the authonty of the CIty to finance
and otherWIse take actIOn and exercIse power under the Act on behalf of the CIty WIth respect to
the Smgle FamIly Mortgage Loan Program within the CIty.
NOW THEREFORE, m eonslderatlon of the mutual covenants and undertakmgs set forth
herem, the City and the Issuer hereby agree as follows:
Section 1. The CIty hereby delegates to the Issuer the authonty of the CIty to finance and
otherwIse laLe actIon and exercIse power under the Act on behalf of the CIty WIth respect to the
Smgle Family iVlortgage Loan Program withm the CIty
Section 2. The Issuer hereby aceepts the delegatIOn of authonty from the CIty pursuant
to SectIon I hereof and agrees to abIde by each of the tenns and condItIOns of thIS DelegatIOn
Agreement In connectIOn with the use of such delegatIOn. The Issuer agrees to make avaIlable to
the CIty no later than , 1999, a portIOn of the proceeds of the Bonds for
the ongmatlon of home mortgages within the CIty's boundanes.
02-296990 1
[SEAL]
Attest:
By
Clerk and Recorder
Approved as to forn1
By
CIty Attorney
CountersIgned
By
AudItor
02.2969901
-
and the Issuer have caused thIS DelegatIOn
,1999
CITY OF WHEAT RIDGE, COLORADO
B(j}/ ~ t2<)'''~3
CITY AND COUNTY OF DENVER,
COLORADO, as Issuer
By
Mayor
B-2
D\' \\'ITNESS WHEREOF, we have hereunto set our hands this
Jr\CvYr:R ,1999
02,29699.0 I
2
day of