Resolution 2002-04 - Laserfiche WebLink

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NOV,', THEREFORE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LOUISVILLE. COLORADO: Section 1. In order to facilitate the orimnation ofsinele family morteaee loans within tile boundaries of the City as part of the Single F~milv Mortgag} Loan P'roera~. delegates to the Issuer the authority of the City to'finance and otherwis~ take action ~nd exe~-cise power under the Act on behalf of the City ~ith respect to the Single Familv Morteaee Program within the City and (b) approves, authorizes and directs the Mavor o'f the C~t~ to sim~ and deliver and the City Clerk to attest and deliver, the Delegation and P~-ticipation A~n-eeme~t in substantially the form presented at this meeting. A copy of the proposed Deleeation and Participation A~eement is on file in the office of the City Clerk and is available for'~nspection by the public. Section 2. The Council hereby approves the Bonds and the Single Familv Mortgage Loan Program for purposes of Section 147(f) of the Intemal Revenue Code of 1986. a~s amended. Section 3. The Mayor of the City is hereby authorized and directed to execute and deliver and the City Clerk is hereby authorized and directed to attest and deliver such other agreements and certificates and to take such other actions as mav be necessary or convenient to carry out and give effect to the Delegation and Participation .~eement and this Resolution, including any am'cement or certificate approving the Bonds or the Single Family Mort~a~oe Loan Program for purposes of Section 147(f) of the Internal Revenue Code ~f 1986. a; amen~e~. Section 4. Nothing contained in this Resolution or the Delegation and Participation Agreement shall constitute a debt, indebtedness or multiple-fiscal year ~irect or indirect debt or other financial obligation of the City within the meaning of the Constitution or statutes of the State or the home rule charter of any political subdivision thereof, nor give rise to a pecuniary liability of the City or a charge against its general credit or taxing powers. Section 5. The participation of the City in the Single Family Mortgage Loan Pro,am is contingent upon the receipt of Allocation for the Single Family Mortgage Loan Prom'am from the State. In the event the State does not award Allocation for the Single Family Mort~gage Loan Program, this Resolution, the Delegation and Participation Agreement. and all duties, obligations and rights of the City under this Resolution and the Delegation and participation Agreement shall terminate immediately. .. Section 6. If any section, paragraph, clause or provision of this Resol'~tion shall for any reason be held to be invalid or unenforceable, the invalidity or unenforceability of any such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution. Section 7. This Resolution shall be in full force and effect upon its passage and approval. 02-110562.01 A-2