The URL can be used to link to this page

Home My WebLink AboutR85-33 Adams County - revenue bonds3 3 G a i : STATE OF COLORADO ) SS. COUNTY OF EAGLE ) The Board of County Commissioners of Eagle County, Colorado, met in regular session on April 8 _, 1985, at 9 :30 &.m. , at the Commissioners' meetit)g room, 550 Broadway , in Eagle , Colorado, in full conformity with the law and the resolutions and rules of the County. Upon roll call, the following were found to be present, constituting a quorum: Present: Chairman of the Board of County Commissioners: Other Commissioners: Absent: constituting all the members of the Board. There were also present: p _ • lii�i -kLi. • County Clerk: Johnnettp Phillips County Attorney: James R Fr;i -oar Assistant County Attorney Thereupon, the following proceedings, among others, were had and taken. Commissioner Gustafson introduced a resolution, the text of which is as follows: a RESOLUTION NO. 85 -33 RESOLUTION TRANSFERRING TO ADAMS COUNTY, COLORADO THE ALLO- CATION OF EAGLE COUNTY, COLORADO UNDER SECTIONS 29 -4 -803 AND 29 -4 -805 OF COLORADO REVISED STATUTES, TO FINANCE MORT- GAGE LOANS TO PROVIDE MORE ADEQUATE RESIDENTIAL HOUSING FACILITIES FOR LOW - AND MIDDLE -INCOME FAMILIES AND PERSONS WITHIN ADAMS COUNTY AND WITHIN EAGLE COUNTY AND ELSEWHERE IN THE STATE OF COLORADO; DELEGATING THE AUTHORITY TO ISSUE REVENUE BONDS TO FINANCE SAID MORTGAGE LOANS WITHIN EAGLE COUNTY; AND AUTHORIZING THE EXECUTION AND DELIVERY BY EAGLE COUNTY OF AN ALLOCATION TRANSFER AGREEMENT AND A DELEGATION AGREEMENT. WHEREAS, Eagle County, Colorado ( "Eagle County ") and Adams County, Colorado ( "Adams County ") are each authorized by the County and Municipality Development Revenue Bond Act, constituting Article 3 of Title 29, Colorado Revised Statutes (the "Project Act ") , to f finance properties to the end that more adequate residential housing facilities for low- and middle- income families and persons may be provided; and WHEREAS, federal law restricts the amount of tax exempt obligations which may be issued by the Colorado Housing Finance Authority and local governmental units in the State of Colorado (the "State ") to finance single - family mortgages to an amount not exceed- ing the State ceiling; and WHEREAS, pursuant to federal law the State has provided for a formula for allocation in of the State ceiling among the governmen- tal units in the State in a manner different from the federal alloca- tion formula, in Part 8 of Article 4 of Title 29 of Colorado Revised Statutes (the "Allocation Act "); and WHEREAS, the Allocation Act authorizes governmental units in the State to transfer all or a part of their allocations provided for in the Allocation Act to any other entity otherwise authorized to issue bonds to finance single - family mortgages and to accept trans- fers of such allocations; and WHEREAS, the Project Act and Part 2 of Article 1- of Title 29, Colorado Revised Statutes, provide, in effect, that any county or municipality may by resolution or ordinance delegate to any other county or municipality its authority under the Project Act to finance projects under the Project Act; and WHEREAS, Eagle County desires to transfer to Adams County its allocation under Sections 29 -4 -803 and 29 -4 -805 of the Allocation Act for the year 1985 to finance mortgage loans to provide more ade- quate residential housing facilities for low- and middle- income families and persons within Adams County and Eagle County and elsewhere within the State; and to delegate to Adams County the -2- authority to act on its behalf in the issuance of qualified mortgage bonds during 1985 pursuant to the allocation granted under Section 29 -4 -805 of the Allocation Act; and WHEREAS, Eagle County desires to delegate to Adams County its power under the Project Act to issue revenue bonds to finance mortgage loans to provide more adequate residential housing facili- ties for low- and middle - income families and persons within Eagle County; and WHEREAS, it is necessary to evidence such transfers and the acceptance of such transfers by the Allocation Transfer Agreement presented to the Board at this meeting (the "Allocation Transfer Agreement ") which will be executed and delivered by Eagle County and Adams County; and WHEREAS, it is necessary to evidence such delegation and the acceptance of such delegation by the Delegation Agreement presented to the Board at this meeting (the "Delegation Agreement ") which will be executed and delivered by Eagle County and Adams County. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF EAGLE COUNTY, COLORADO: Section 1. The forms, terms and provisions of the Allocation Transfer Agreement and the Delegation Agreement hereby are approved and the Chairman of the Board of County Commissioners of Eagle County and the County Clerk hereby are authorized and directed to execute and deliver the Allocation Transfer Agreement and the Delegation Agreement. Section 2. The Chairman of the Board of County Commissioners and the County Clerk hereby are authorized and directed to take such other steps or actions as may be required to carry out the terms and intent of this resolution, the Allocation Transfer Agreement and the Delegation Agreement. Section 3. Nothing contained in this resolution, in- -the Allocation Transfer Agreement or in the Delegation Agreement shall obligate Eagle County, except to the extent described in the Allocation Transfer Agreement and in'the Delegation Agreement, nor constitute the debt or indebtedness of Eagle County within the mean- - ing of the Constitution or statutes of the State or the home rule charter of any political subdivision thereof, nor give rise to a pecuniary liability of Eagle County or a charge against its general credit or taxing powers. Section 4. If any section, paragraph, clause or provision of this resolution shall for any reason be held to be invalid or -3- f i unenforceable, the invalidity or unenf orceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this resolution. Section 5. All action (not inconsistent with the provi- sions of this resolution) heretofore taken by the Board of County Commissioners and the officers of Eagle County directed toward the authorization of the Allocation Transfer Agreement and the Delegation Agreement hereby is ratified, approved and confirmed. Section 6. This resolution shall be in full force and r effect upon its passage and approval. g 1985. PASSED, ADOPTED AIM APPROVED this 8th day of April r Chairman of the Board of Countv Commissioners (SEAL Att�S`��9 m 2� J if County 'ax , -z -4- e� A motion to adopt the foregoing resolution was then duly ,- made by Commissioner Gustafson and duly seconded by 7 Commissioner Welch The question being upon the passage and adoption of the resolution, the roll was called with the following result: Those Voting Aye: David E. Mott { Richard L. Gustafson Donald H. Welch Those Voting Nay: Those Absent: Thereupon, the presiding officer declared the notion car- ried and the resolution duly passed and adopted. After other action or business not related to the foregoing resolution, on motion duly made, seconded and adopted, the meeting thereupon adjourned. :3 F 4 a� —5— a� STATE OF COLORADO ) - ) SS. COUNTY OF EAGLE ) I s I i t E I, Johnnette Phillips , the duly qualified and acting County Clerk of Eagle County, Colorado (the "County "), in the State of Colorado, do hereby certify: 1. The foregoing pages numbered -1- to -5 -, inclusive, are a true, perfect and complete copy of the record of proceedings of the Board of County Commissioners of the County had and taken at a lawful meeting o f the B oar d held a t the Commissioners' meting room, 550 Broadway , in Eagle , Colorado on And— _a, 198,5 at 1:30 A.m., as recorded in the regular offi- cial book of the proceedings of the County kept in my office so far as the proceedings relate to the resolution therein set forth, the proceedings were duly had and taken as therein shown, the meeting therein shown was duly held, and the parsons therein named were present at the meeting as therein shown. 2. All members of the Board were duly notified of the meeting, pursuant to law. IN WITNESS WHEREOF, I have hereunto set my hand and affixed 94 the- bounty this 8th day of April , 1985. Couh Cl erk