HomeMy WebLinkAbout1981-067-04/21/1981-A RESOLUTION AUTHORIZING THE BOARD COUNTY COMMISSIONERS OF LARIMER COUNTY TO ISSUE REVENUE BONDS FOR RESOLUTION
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A RESOLUTION 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 Bond 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
ir-evocably delegate for the term of any bond issue to any other
country 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 , 1981 Series A (the "Bonds") to
finance certain residential facilities 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, 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 lour 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 on the 21st day of April , A D 1981
U k"—
Mayo
ATTEST
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City Clerk
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