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<br />RESOIl..UTION NO. 30, SERIES 2007 <br /> <br />A RESOLUTION AUTHORIZING THE DELEGATION TO THE CITY AND COUNTY <br />OF DENVER, COLORADO OF THE AUTHORITY OF THE CITY OF LOUISVILLE, <br />COLORADO, WITH RESPECT TO THE ISSUANCE OF SINGLE FAMILY HOME <br />MORTGAGE REVENUE BONDS (THE "BONDS") TO FINANCE RESIDENTIAL <br />HOUSING FACILITIES FOR LOW- AND MIDDLE-INCOME PERSONS AND <br />FAMILIES WITHIN THE CITY AND CERTAIN OTHER CITIES AND COUNTIES IN <br />THE STATE OF COLORADO; APPROVING SUCH BONDS AND SUCH SINGLE <br />FAMILY MORTGAGE LOAN PROGRAM; AND AUTHORIZING THE EXECUTION <br />AND DELIVERY OF A DELEGATION AND PARTICIPATION AGREEMENT AND <br />OTHER DOCUMENTS IN CONNECTION THEREWITH. <br /> <br />WHEREAS, the City of Louisville, Colorado (the "City"), and the City and County of <br />Denver, Colorado (the "Issuer"), are each authorized by the County and Municipality <br />Development Revenue Bond Act, constituting article3 of title 29, Colorado Revised Statutes, as <br />amended (the "Act"), to finance projects as defined in the Act, including residential housing <br />facilities for low- and middle-income persons and families; and <br /> <br />WHEREAS, Section 29-3-104 (2) of the Act provides that a county or municipality may <br />delegate by resolution or ordinance" as the case may be, to any other county or municipality the <br />authority to act on its behalf in the financing of projects under the Act and that any such <br />delegation may be general or limited in scope and time, and may be irrevocable for the term or <br />terms of any financing agreement or bond issue, all as provided in such resolution or ordinance; <br />and <br /> <br />WHEREAS, the Issuer proposes to issue single family home mortgage revenue bonds <br />pursuant to the Act and its home rule charter (the "Bonds") to finance residential housing <br />facilities for low- and middle-income persons and families within the City and other cities and <br />counties in the State (the "Single Family Mortgage Loan Program"); and <br /> <br />WHEREAS, the City desires to delegate to the Issuer the authority of the City to finance <br />and otherwise take action and exercise power under the Act on behalf of the City with respect to <br />the Single Family Mortgage Loan Program within the City; and <br /> <br />WHEREAS, it is necessary to evidence such delegation by the execution and delivery by <br />the City of a Delegation and Participation Agreement (the "Delegation and Participation <br />Agreement"), by and between the City and the Issuer in substantially the form presented at this <br />meeting; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LOUISVILLE, COLORADO: <br /> <br />Section 1. In order to facilitate the origination of single family mortgage loans within the <br />boundaries of the City as part of the Single Family Mortgage Loan Program, the City hereby (a) <br />delegates to the Issuer the authority of the City to finance and otherwise take action and exercise <br />power under the Act on behalf of the City with respect to the Single Family Mortgage Loan <br />Program within the City and (b) approves, authorizes and directs the Mayor of the City to sign <br />and deliver and the City Clerk to attest and deliver, the Delegation and Participation Agreement <br />