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�! Board of County Commissioners
Pitkin County, Col.orado
Resolution No. 7�• �7
WIiERLAS, the County of Pitkin, State of Colorado• (ihe
"Issuer") , a body politic and corporate and a political sub- .
division of the State of Colorado, is authorized and empowered
by the provisions of the County and Municipali.ty Development •
Revenue Bond Act, Colorado Revised Statues 1973 §29-3-101 `
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et seq., as amended (the "Act"), to finance a project, as that �
term is defined in the Act, and to issue its industrial revenue :�
bonds for the purpose of paying the cost of financing a project; a
� and �
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WHEREAS, Aspen-Pitkin Employee Housing, Inc. (the "Corpora= -
tion") has requested the Issuer to issue and sell, to Hosworth,
Sullivan, a Division of Dain, Kalman & Quail, Incorporated (the
"PUrchaser") , its industrial revenue bonds pursuant to provisions ';;
of the Act for the purpose of financing residential faeilities ;
for low and middle-income families or persons intended as the
sole place of residence by the intended occupants constituting ';
a project more specifically descsibed in Attachment A, as that �
• term is defined by the Act (the "Project") for the Corporation; and �
WIiEREAS, the Issuer wishes to declare its intention to �
aufhorize an issue of its industrial revenue bonds for the purpose �
-; of paying the costs of financing the Project, when so requested �
by the Corporation, upon such terms and conditions as may then•be f�:
� agreed on by the Issuer, the Corporation and the Purchaser. �
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� NOW, THEREFORE, be it resolved by the Board of County Commis- �
sioners of the Issuer that it does hereby declare its intention to �
�,;� authorize the issuance and sale of industrial revenue bonds of the
Issuer to the Purchaser under and in accordance with the Act, in ��
_ such an amount necessary to,pay the cost of the Project as described _;
in Attachment A, presently estimated to be $1,400,000, and upon `�
such terms and conditions as may be mutually agreed upon by the �a
Issuer and the Corporation, the issuance and sale of such bonds to ��
� ' ba authorized by resolution of the Issuer at a meeting to be held
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for such purpose. �°
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� � Passed and approved this �day of ��/,/�'� , 1979. ;
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� „ i��; ..'; COUNTY OF PITKIN, STATE ; `
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•. . Q�C'oun�y Clerk Chairm , ard County Commis�ioners ;
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ATTACHM�NT A #
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1. The�Project will be located within Pitkin County on
property bounded on the west by the Pitkin County
Community Centex, on the north by Hunter Creek, on �
-: the east by the Silver King Apartments, and on the
south by Lone Pine Road. �
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i 2. The Project will generally consist of ten one-liedroom
' apartments, twelve two-bedroom apartments and four'
S three-bedroom apartments and related and subordinate
equipment and facilities.
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