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RESOLUTION NO. 28 Series 1982 RESOLUTION TRANSFERRING TO BOULDER COUNTY, COLORADO THE ALLOCATION OF THE CITY OF LOUISVILLE, COLORADO UNDER SECTION 29-4-803 OF COLORADO REVISED STATUTES 1973, AS AMENDED, TO FINANCE MORTGAGE LOANS TO PROVIDE MORE ADEQUATE RESIDENTIAL HOUSING FACILITIES FOR LOW- AND MIDDLE-INCOME FAMILIES AND PERSONS WITHIN THE COUNTY, INCLUDING THE CITY WHICH IS LOCATED WITHIN THE COUNTY; AND AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF AN ALLOCATION TRANS- FER AGREEMENT. - WHEREAS, the City of Lquisville, Colorado (the "City") and Boulder County, Colorado (the "County") are eacn authorized by the County and Municipality Development Revenue Bond Act, constituting Article 3 of Title 29, Colorado Revised Statutes 1973, as amended (the "Act"), to finance, refinance, acquire, own, lease, improve and dispose of properties to the end that more adequate residential hous- ing facilities for low- and middle-income families and persons may be provided, which promote the public health, welfare, safety, conve- nience and prosperity; and WHEREAS, the Mortgage Subsidy Bond Tax Act of 1980, codi- fied as Section 103A of the Internal Revenue Code of 1954, as amended (the "Federal Act"), 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 to finance single- family mortgages to an amount not exceeding the State ceiling; and WHEREAS, the Federal Act authorizes the states to provide a formula for allocat1ng the state ceiling among the governmental units in such states in a manner different from the federal allocation for- mula, and the State of Co~orado has provided for such an alternate formula for allocation by the enactment into law of Senate Bill No. 112, codified as Part 8 of Article 4 of Title 29 of Colorado Revised Statutes ~973, as amended (the "Allocation Act"); and -2-