HomeMy WebLinkAboutResolution-1981-0747
RESOLUTION NO. 747
SERIES OF 1981
TITLE: A Resolution Supplementing Resolution No. 731, Series
of 1981
WHEREAS, the City of Wheat Ridge (the "Issuer"), State of
Colorado, is authorized by the County and Municipality Develop-
ment Revenue Bond Act, 5 29-3-101, et ~, 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
commercial 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
WHEREAS, 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 maximum
aggregate principal amount of $4,700,000 to finance a shopping
center (the "Project"), as more fully described therein; and
WHEREAS, the principals of Marquette Properties, Ltd., the
"User" named in Resolution No. 731, have E1articipated with
Victorio Investment Company in the formation of Ridge village
Partnership, a Colorado partnership, and Ridge village Partner-
ship or a new entity to be formed by the partners of Ridge Village
Partnership (the "Partnership") desires to borrow the proceeds of the
Bonds from the Issuer and will develop the Project; 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 principals of the
User and the Partnership are substantially similar, 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:
The user of the Project and the borrower of the proceeds
of the Bonds will be the Partnership. Resolution No. 731 shall
be effective through September 1, 1982. With the exceptions
stated in the previous two sentences, the Issuer hereby reaffirms
the findings and the resolutions contained in Resolution No. 731.
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.
DONE AND RESOLVED this
J
,c
day of
"
, ,
I " L
, 1981.
'--- I J./"" ~.--L r!::,
Frank Stites, Mayor
Attest:
/
, /
, .
~
Carol F. Hampf, City ~lerk
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