Resolution 2002-04 - Laserfiche WebLink

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EXHIBIT B DELEGATION AdND PARTICIPATION AGREEMENT This DELEGATION AND PARTICIPATION AGREEMENT (this "Delegation and Participation Agreement") is bv and between the CITY OF LOUIS\?ILLE. COL~P,.ADO. a municipal corporation and apoiitical subdivision of the State of Colorado (the "Citx"). and the CITY AND COUNTY OF DENVER, COLORADO. a home rule city. a political 'subdi¥ision and a municipal corporation of the State of Colorado (the "Issuer"). RECITALS: WHEREAS, the City and the Issuer are each authorized by the County and Municipality Development Revenue Bond Act, constituting article 3 of title 29, Colorado Revised Statutes. as amended (the "Act"). to finance projects as defined in the Act. including residential housin~ facilities for low- and middle-income persons and families; and ~ WHEREAS, Section 29-3-104(2) of the Act provides that a county or municipality may delegate by resolution or ordinance, as the case may be, to an3' other county or municipality authority to act on its behalf in the financing of projects under the Act ahd that anv such delegation may be general or limited in scope and time and may be irrevocable for the term or terms of any financing a~eement or bond issue, all as provided in such resolution or ordinance: and WHEREAS, contingent upon the receipt of private activity bond volume cap allocation ("Allocation") from the State of Colorado (the "State") for use in the Sinele Family Mortgage Loan Progam (as hereinafter defined), the Issuer proposes to issue sinule family home mortgage revenue bonds pursuant to the Act and its home rule charter (the "Bonds") to finance residential housing facilities for low- and middle-income persons and families within the City and other cities and counties in the State (the "Single Famih' Mortgage Loan Program"): and and WHEREAS, the City wishes to participate in the Single Family Mortgage Loan Pro,am; WHEREAS, the City desires to delegate to the Issuer the authority of th'e City to finance and otherwise take action and exercise power under the Act on behalf of the City with respect to the Single Family Mortgage Loan Program within the City; NOW THEREFORE, in consideration of the mutual covenants and undertakings set forth herein, the City and the Issuer hereby a~ee as follows: Section 1. The City hereby delegates to the Issuer the authority of the City to finance and otherwise take action and exercise power under the Act on behalf of the City with respect to the Single FamilY Mortgage Loan Program within the City. Section 2. The Issuer hereby accepts the delegation of authority from the City pursuant to Section 1 hereof and agrees to abide by each of the terms and conditions of this Delegation 02-110562.01