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<br /> RESOLUTION #30 <br /> Series 1982 <br />RESOLUTION DELEGATING THE AUTHORITY TO BOULDER COUNTY, <br />COLORADO TO ACT ON BEHALF OF THE CITY OF LOUISVILLE, <br />COLORADO IN THE ISSUANCE OF QUALIFIED MORTGAGE BONDS AND <br />TRANSFERRING TO THE COUNTY THE ALLOCATION OF THE CITY UNDER <br />SECTION 29-4-805 OF COLORADO REVISED STATUTES 1973, AS <br />AMENDED, FOR THE PERIOD FROM OCTOBER 1, 1982 THROUGH <br />DECEMBER 31, 1982 TO FINANCE MORTGAGE LOANS TO PROVIDE MORE <br />ADEQUATE RESIDENTIAL HOUSING FACILITIES FOR LOW- AND <br />MIDDLE-INCOME FAMILIES AND PERSONS WITHIN THE COUNTY, <br /> INCLUDING THE CITY WHICH IS LOCATED WITHIN THE COUNTY; AND <br /> AUTHORIZING THE EXECUTION AND DELIVERY BY THE CITY OF A <br />DELEGATION AND ALLOCATION TRANSFER AGREEMENT. <br /> WHEREAS, the City of Louisville, Colorado (the "City") and <br />Boulder County, Colorado (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 "Project Act"), to finance, refinance, acquire, own, lease, <br />improve and dispose of properties to the end that more adequate resi- <br />dential housing facilities for low- and middle-income families and <br />persons may be provided, which promote the public health, welfare, <br />safety, convenience and prosperity; and <br /> WHEREAS, the Mortgage Subsidy Bond Tax Act of 1980, codi- <br />fied as Section 103A of the Internal Revenue Code of 1954, as amended <br />(the "Federal Act"), restricts the amount of tax exempt obligations <br />which may be issued by the Colorado Housing Finance Authority and <br />local governmental units in the State of Colorado to finance single- <br />family mortgages to an amount not exceeding the State ceiling; and <br /> WHEREAS, the Federal Act authorizes the states to provide a <br />formula for allocating the state ceiling among the governmental units <br />in such states in a manner different from the federal allocation for- <br />mula, and the State of Colorado has provided for such an alternate <br />f 0 rmu la f or all oca tion by the enactment into law, of Senate Bill <br /> -2- <br />