HomeMy WebLinkAboutR03-036 Mountain Glen Housing Corporation Loan•
1
Commissioner moved adoption
of the ollowing Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2003-~~
IN THE MATTER OF A LOAN FROM EAGLE COUNTY, COLORADO
TO MOUNTAIN GLEN HOUSING CORPORATION
WHEREAS, Eagle County, Colorado (the "Count}') is a political subdivision of the State
of Colorado (the "State"), duly organized and existing pursuant to the laws and the Constitution
of the State; and
WHEREAS, Mountain Glen Housing Corporation, a Colorado non-profit corporation,
(the "Corporation") is desirous of maintaining affordable housing for the citizens of the County;
and
WHEREAS, the County has previously authorized a loan with interest at a rate of 4
percent (4%) interest per annum to the Corporation to help with costs associated with providing
affordable housing and to help County citizens with housing needs; and
WHEREAS, the allocated funds that was loaned to the Corporation to assist with matters
relating to Mountain Glen Housing Project have been exhausted; and
WHEREAS, the Corporation has requested that the County allocate additional funds to
help with associated costs and expenses of the Mountain Glen Housing Project; and
WHEREAS, the Board of County Commissioners has determined that no additional
funds will be transferred to the Corporation for the sole purpose of assisting the Mountain Glen
Housing Project with associated costs and expenses;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the County hereby authorizes and ratifies no additional funds will be loaned to the
Corporation for the sole purpose of assisting the Mountain Glen Housing Project with project
costs and expenses.
THAT, this Resolution is necessary for the public health, safety and welfare of the
citizenry of the County of Eagle, State of Colorado.
-w
~ ~
MOVED, READ AND ADOPTED, by the Board of County C ssion f the
County of Eagle, State of Colorado, at its regular meeting held the~~of 003.
h y$
h ~ A
ATTEST: eo,,,,~s~®~
to the Board of County
Commissioners
COUNTY OF EAGLE, STATE OF COLORADO
By and Through its BOARD OF COUNTY,
By:
Michael L. Gallagher,
Arn M. loni, Commissioner
Commissione seconded adoption of the foregoing Resolution. The roll
having been called, the vote was as follows:
Commissioner Gallagher
Commissioner Stone
Commissioner Menconi
This Resolution passed by,~ ,t'~/~ote o the Board of County Commissioners of the
County of Eagle, State of Colorado.
G:\WM\Reso for Bd not to give Mt. Glen Money.wpd
