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HomeMy WebLinkAbout1982-080-06/15/1982-AUTHORIZING THE BOARD OF COUNTY COMMISSIONERS OF LARIMER COUNTY, COLORADO, TO ISSUE REVENUE BONDS FO RESOLUTION 82- 80 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE BOARD OF COUNTY COMMISSIONERS OF 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 THIS MUNICIPALITY WHEREAS, pursuant to the County and Municipality Development Revenue Bonds Act, Colorado Revised Statutes Section 29-3-101 et seq , as amended (the "Act") , a county or municipality may issue revenue bonds to finance residential facilities for low and middle income families and persons, and WHEREAS, 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 WHEREAS, the Board of County Commissioners of Larimer County, Colorado (the "County") , has determined to issue its Single Family Mortgage Revenue Bonds, 1982 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 Fort Collins (the "Municipality") NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT COLLINS, 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 immediately upon its passage Passed and adopted at a regular meeting of the Council of the City of Fort Collins held this 15th day of June, 1982 Mayor ATTEST 14")�k �k City Clerk