HomeMy WebLinkAbout1983-118-07/05/1983-AUTHORIZING THE BOARD OF COUNTY COMMISSIONERS OF LARIMER COUNTY, COLORADO, OR SUCH OTHER COUNTY AS A RESOLUTION 83- 118
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE BOARD OF COUNTY COMMISSIONERS
OF LARIMER COUNTY, COLORADO, OR SUCH OTHER COUNTY
AS AUTHORIZED BY LARIMER COUNTY, COLORADO
TO ISSUE REVENUE BONDS FOR THE PURPOSE OF PROVIDING
ADEQUATE RESIDENTIAL HOUSING FACILITIES FOR
LOW AND MIDDLE INCOME FAMILIES AND PERSONS
ON BEHALF OF THE CITY OF FORT COLLINS, COLORADO
WHEREAS, pursuant to the County and Municipality Development Revenue
Bonds Act, S29-3-101, C R S 1973, et�se , as amended (the"Act") , a county
or municipality many issue revenue oti nns to finance residential facilities
for low and middle income families and persons, and
WHEREAS, 529-3-101(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 author-
ity to act on its behalf in carrying out any of the purposes of the Act,
and
WHEREAS, The Board of County Commissioners of Larimer County, Colorado
(the "County") , has determined to issue its Single Family Mortgage Revenue
Bonds, 1983, Series A (the "Bonds") , to finance certain residential facili-
ties located within the County for low and middle income families and
persons (the "Project"), and
WHEREAS, the Project will benefit the residents of the City of
Fort Collins (the "City")
NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS, as follows
Section 1 The City, pursuant to 529-3-101 (2) , C R S 1973, as
amended, hereby irrevocably delegates to the County or to such other county
as authorized by the County, the City' s authority to issue revenue bonds
during the calendar year 1983 for the purpose of financing residential
facilities for low and middle income families and persons
Section 2 The Bonds shall not constitute the debt or indebtedness of
the City, the County, the State or any other political subdivision thereof
within the meaning of any provision or limitation of the Constitution or
statutes of the State nor give rise to a pecuniary liability of or a charge
against the general credit or taxing powers of the City, the County, the
State or any other political subdivision thereof
I I
Section 3 This resolution shall be effective immediately upon its
passage
Passed and adopted at a regular meeting of the City Council held this
5th daffy of July, A D 1983
9��T h gam-- 4'*'-VP
ATTEST Map
%D
City Clerk
-2-