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.
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FRANK STITES, !>'!AYOR
ATTEST:
CLERK