City Council Agenda and Packet 1973 09 04

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r . •'M 11x1 ' % f - „-• 3, s. declares it to be a body corporates a political stioui •isi-.n of the state, and not subject to corporate, direction by any 'paw of the state. Its board of directors inciirlos ti* state auditor, one legislator appointed by the beds of the 2 barsos for 2 years, and 7 persons appointed by the gollIxnor for 7-year tames, after original staggered terns of 2 4, and 6 years; 4 of those 7 are to have specific qualifications in the fields of banking, architecture, I planning, and real estate transactions. tba board is to consider the financial feasibility of proposals to develop housing to be paid for by revenue bonds of the authority. Ills board's approval of a plan is eon t on a finding that private financing is not available, that financing by the authority is feasible, and that the aailpl�icant is qualified under the lot to receive sssistanaa from the authority. The board is authorized to issue revaete bands and pledge housing authority revenues up to $50,000,000. Qi approval of a housing facility plan, the authority pal sake construction loans to s rs, housing authority developers, and builders. The aut�ty c an talon second mortgage deeds of trust sutra mortgaag�eess within stated limits. tb rs dealing with the authority are limited in their � i distribution on annually to 6% of their equity 1 in any project financed by the authority. To he eligible 1 for assistance fruu the authority on any project, an t organization trust be organized sunder Colorado law, and its i proposal asset be for facilities to be built or acquired to ti l�ouso lap and kvdoruto meal f aailleers. Provisions are detailed for the issuance of rovenuo bonds which roust indicate cn•theii face that the state has no liability therefor. Appropriatel S200 0G0 to the departrent of local affairs to purchase financial ezd da:elogxeental services for housing facilities for low and taoderate income families. July 6 July 6 1117 Interstate •• ,. . is - Cu ores and Toltec scenic railroad. • 2 for z e s ; • g we xnor to enter • a COMIC ` -+ Maim concerning the acquisition, ownership, and control of i the Qribres and Toltec scenic railroad in southern Colorado and northern N 'i lkoLico. Provisions of the compact include: Agreement of the railroad; ica ion and he JJuuly 1, 1977Q agreement between the railroad authorities of the July states; • pronise to make such other agreements es.may, be necessary -20- House Bills . _ _..-- _