Laserfiche WebLink
<br /> EXHIBIT A <br /> ALLOCATION TRANSFER AGREEMENT <br />This Allocation Transfer Agreement is between the City of <br />Louisville, Colorado (the "City") and Boulder County, Colorado (the <br />"County"). <br /> WIT N E SSE T H: <br />1. Preliminary Statement. Among the matters of mutual <br />inducement which have resulted in the execution of this Allocation <br />Transfer Agreement are the following: <br />(a) The City and the County are each authorized by the <br />County and Municipality Development Revenue Bond Act, constituting <br />Article 3 of Title 29, Colorado Revised Statutes 1973, as amended <br />(the "Act"), to finance, refinance, acquire, own, lease, improve and <br />dispose of properties to the end that more adequate residential hous- <br />ing facilities for low- and middle-income families and persons may be <br />provided, which promote the public health, welfare, safety, conve- <br />nience and prosperity. <br />(b) The Mortgage Subsidy Bond Tax Act of 1980, codified as <br />Section 103A of the Internal Revenue Code of 1954, as amended (the <br />"Federal Act"), restricts the amount of tax exempt obligations which <br />may be issued by the Colorado Housing Finance Authority and local <br />governmental units in the State of Colorado to finance single-family <br />mortgages to an amount not exceeding the State ceiling. <br />(c) The Federal Act authorizes the states to provide a for- <br />mula for allocating the state ceiling among the governmental units in <br />such states in a manner different from the federal allocation <br />formula, and the State of Colorado has provided for such an alternate <br />