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' RESOLIITION DELEGATING TO ADAMS COIINTY, COLORADO TfiE
AOTfiORITY OF PITKIN COUNTY TO ISSUE REVENUE
BONDS TO FINANCE MORTGAGE LOANS TO PROVIDE MORE
; ADEQUATE RESIDENTIAL HWSING FACILITIES FOR LOI4- AND '
MIDDLE-INCOHfE FAMILIES AND PERSONS WITHIN
PITKIN COUNTY AND ADTHORIZING THE
�-'" EXECOTION AND DELIVERY BY PITRIN COUNTY OF � '
A DELEGATION AGREEMENT.
i RESOLUTION # 86-55
i
`� WHEREAS, Pitkin County, Colorado ("Pitkin County") and �
Adams County, Colorado ("Adams County") are each authorized by '�� • -��•
' �' the County and Municipality Development Revenue Bond Act,
" constitutinq Article 3 of Title 29, Colorado Revised Statutes { "
_� (the °Project Act"), to finance properties to the end that more
adequate residential housing facilities for low- and middle-
y:�,i income families and persons may be provided; and ': ,` ,
� �,.:;�`:
WHEREAS, the Proj ect Act arid Part 2 of Article 1 of _
�� • Title 29, Colorado Revised Statutes, provide, in effect, that any • '
"j county or municipality may by resolution or o=dinance delegate to •• �
,-j any other county or municipality its authority under the Project .. ,
� Act to finance projects under the Project Act; and
f
;� ' WSEREAS, Pitkin County desires to delegate to Adams I
County its poiaer under the Project Act to issue revenue bonds to . � '
' finance mortgage loans to provide more adequate residential �
`1 housing facilities for low- and middle-income f amilies and
± , persons within Pitkin County; and .r
f
• - WHEFEAS, it is necessary to evidence such delegation -• '
' '�_'� • and the acceptance of such delegation by the Delegation Agreement
presented at this meeting (the "Delegation Agreement") which will .
! be executed and delivered by Pitkin County and Adams County. _ •
:.�
,� NOFI� 2EiEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
'� COMFIISSIONERS OF PITKIN COIINTY, COLORADO: '
�j
.:; Section 1. The form, terms and provisions of the � -
Delegation Agreement hereby are approved and the Chairman of the
� Board of County Commissioners of Pitkin County and the County i�,,
� Clerk hereby are authorized and directed to execute and deliver ,
; the Delegation Agreement. This delegation of authority is i
, �limited to the origiriation of mo=tgage lbans to be made in ! '
connection with the issuance of bonds under the Project Act by � �;�_
Adams County to partially refund an issue of single family i. �
mortgage revenue bonds issued-in 1985, i'�
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 and the �
� � Delegation Agreement. .
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� Section 3. Nothing contained in this resolution or in �
� the Delegation Agreement shall obligate Pitkin County, except to ;
� j the extent described in the Delegation Agreement, nor constitute
i the debt or indebtedness of Pitkin County within the meaning of
-,� the Constitution or statues of the State or the home rule charter � .
of any political subdivision thereof, nor give rise to a pecuni- �;.-
;1 ary liability of Pitkin County or a charge against its general ,
�i 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 unenforceable, the invalidity or unenforceability 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 +'%' �
i;3 provisions of this resolution) heretofore taken by the Board of �_
County Commissioners and the officezs of Pitkin County directed
-:u toward the anthorization of the Delegation Agreemer.t hereby is ;;��. �,
�"' ratified, approned and confirmed. -
;;� . ;,'".
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;�- Section 6. This resolution shall be in full force and i, �.
;�� effect upon its passage and approval. � ,
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'?;� PASSED, ADOPTED AND APPROVED this 4T� day of �UNE ;
1986. :
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County ommi�sioners
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;;�'� County Clerk �
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� A motion to adopC the foreqoing resolution was then
� duly made by Co�UDIS ner BtAK� and duly seconded by
:-_.,� Commissioner ,
.>� The question being upon the passage and adoption of the e
.;� iesolution, the roll was called with the Pollowinq result: �
--•n--� KLANDERUD
:� Those Votinq Aye:
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�''�4 Those Absent: � ,�;:,
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�`;:�;= Thereupon, the presiding officer declared the motion r� ..
:;�� carried and the resolution duly passed and adopted. 5:
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�.`a...: After other action ar business not related to the °'
�~�`� foregoing resolution, on motion duly made, seconded and adopted, �'��;•
;�;, the meeting thereupon adjourned. _
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, STATE OF COLORADO )
: . PITKIN ) SS.
F COUNTY OF � - ) , _ •
I, LORETTA BANNER , the duly qualified and acting
� County Clerk o •�� County, Colorado (the "County"), in �
�,,,_; the State of Colora od , do hereby certify:
� 1. The foregoing pages numbered -1- to -5-, inclusive �
� are a true, perfect and complete copy of the record of . �
! proceedinqs of the Board of County Commissioners of the Countp ;:,:. < �
i had and taken at a lawful meeting of the Board held at COUNTY COURTJiOUSE i;�,'. . :s '
, -� 506 EAST �-0AIN ST , in �PEN , Colorado on June�gg6 �•%��'• ;�"-
at : .m., as recor ed in the regular official book of the � .
proceedinqs of the County kept in my office, so far as the
� proceedings relate to the resolution therein set forth, the
p r o c e e d i n g s w e r e d u l y h a d a n d ta ken as t herein s hown, t he mee ting • .�
' therein shown was duly held, and the .persons therein named were
. present at the meeting .as therein shown. . �
2: All members of the Hoard were duly notified of the ,
� meeting, pursuant to laa. '. ;�
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� • IN WITNESS WHEREOF, I have hereunto set my.. hand and'
affixed the seal of the County this 9TH day of JUNE. , 1985. �
�
1 . . County Clerk ",. ��
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p�i.E[,ATION AGREEMFNT
+ This Delegation Agreement is between Pitkin County,
Coloradn ("Pitkin County") and Adams County, Colorado ("Adams '
County"1. �,.,•
1. p�eliminarv Statement. Among the matters of mutual
inducement which have resulted in the execution of this Delegat-
"'�;� ian Agreement are the following: �
� (a) Pitkin County and Adams County are each authorized �
� by the County and Municipality Development Revenue Bond Act,
constituting Article 3 of Title 29, Colorado Revised Statues (the t �'
, � "Project Act"), to finance properties to the end that more C�;:;,•; °�':•
adequate residential housing facilities for low- and middle-
income families and persons may be provided.
'� - (b) The Pcoject 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 cohnty or municipality its authority under the Project �,
Act td f inance projects under the Project Act. ' .
- (c) Neither the execution and 8elivery of this � .
Delegation Agreement, the consummation of the transactions . €'. . .. �
;:� contemplated hereby, nor the fulfillment of or compliance with �:
,4� the tetms and conditions of this Delegation Agreement conflicts
with or results in a bzeach of any of the terms, conditions or �
�:� • provisions of any legal restriction or any agreement or instrum- :: .
ent to Y�hich Pitkin County or Adams County is now a party or by ; :
, 'which PitY.in Coun�y or Adams County is bound, or constitutes a •?
;,�i default under any of the foregoing. F',, ,
• 2, p�leaat+on by Pitk�n countv. The Board of County '•
Commissioners of Pitkin County hereby delegates to Adams County �� .
all authority of Fitkin County to finance and otherwise take i' ,
; action and esercise power under the Project Act on behalf of � ••�.>�
��;$ Pitkin County with respect to the f inancing of moctgage loans to
provide more adequate tesidential housing facilities for low- and �
�-1 �
;i middle-income families and persons within 'Pitkin County. This ;.
•=j delegation of authority is limited to the origination of mortgage
i loans to be made in connection with the issuance of bonds under (
:'1, '•the Project Act by Adams County to partially• refund an issue of {',,
� � single family �aortgage revenue bonds issued in 1985. ' ',,'; ._
i3. A�ceptance of Dele�tion by Adamc Countv. The i '
Board of County Commissioners of Adams County hereby accepts the ;
delegation granted to it by Pitkin County, and agrees that it ( �
. � will finance mortyage loans to provide more adequate residential !`
•� housing facilities for.low- and middle-income families, and (.
ipersons within Adams County and Pitkin County. �
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�' ' 4. C.eneral provision. This Delegation Agreement is
` � hereby declared irrevocable during the term of the financing
agreements to be entered into by Adams County and the financial -
� institutions which will originate and servlce the mortgage loans,
and�this Delegation Agreement shall terminate upon the termi.na—
• tion of such financing agreements.
_ --j ;
� � IN WITNESS WHEREOF, the �ties hereto have entered
Y;�V,,; into this Delegation Aqreement this day o£ JUNE, 1986 ,
1 �
?-°i PITR COU , O �
.
' H��; . (SEAL) y , j" '
ts- . Chai v m o t oard of County �R
-�x C mmissioners
'-� Atte st: �::;
,;;�'
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�:, ounty Clerk � " �
�r'° � 1 :,
�.<•' . ADAMS COIINTY, COLORADO , 1' .
s4' .
z�r�.%'-., (SEAL) by ! �
;4 . Chairman of the Board of County
"^� ._ _. . Commissioners .
�'�'M Attest: i'
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c,
unty Clerk � �'r
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