Resolution 1982-30 - Laserfiche WebLink

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Allocation Transfer Agreement shall terminate upon the termination of such agreements. (b) This Delegation and Allocation Transfer Agreement shall automatically terminate on January 1, 1983 if the County has not prior to that date issued its revenue bonds under the Project Act pursuant to the allocation granted in Section 29-4-805 of the Allocation Act for the period from October 1, 1982 through December 31, 1982 for the purpose of financing Mortgage Loans to pro- vide 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. (c) Nothing contained in this Delegation and Allocation Transfer Agreement shall obligate the County to finance Mortgage Loans in any particular amount or to use any particular percentage of the proceeds of its revenue bonds to finance Mortgage Loans to pro- vide more adequate residential housing facilities located in the City, and the County is hereby authorized to finance only such Mortgage Loans as shall be agreed upon by the County and the finan- cial institutions which will originate and service the Mortgage Loans. (d) This Delegation and Allocation Transfer Agreement shall not constitute the debt or indebtedness of the City or the County within the meaning of the Constitution or statutes of the State of Colorado or the home rule charter of any political subdivision thereof nor give rise to a pecuniary liability or a charge against the general credit or taxing powers of the City or the County. -5-