HomeMy WebLinkAbout988 - SUPPORTING the issuance of tax-exempt revenue bonds by the Housing Authority of the County ofRESOLUTION NO. 988
RESOLUTION OF THE CITY COUNCII. OF Tf~ CITY
OF BOULDER, COLORADO CONCERNING THE
ISSUANCE OF TAX-EXEMPT REVENUE BONDS BY
THE HOUSING AUTHORITY OF THE COUNTY OF
BOULDER, COLORADO FOR FIRST CHRISTIAN
MANOR, INC. DB/A GOLDEN WEST MANOR, INC.
WHEREAS, First Christian Manor, Inc. d/b/a Golden West Manor, Ina (the `Borrower")
has requested that the Housing Authority of the County of Boulder, Colorado (the "Authority")
issue up to $10,000,000 in principal amount of revenue bonds pursuant to the laws of the State of
Colorado (the "State"), to provide said applicant with funds to fmance the acquisition,
construction, improvement and equipping of approximately 56 units of senior independent living
housing located adjacent to the Bonower's exisring facilities located at 1055 Adams Circle,
Boulder, Colorado 80303 (the "ProjecP'); and
WHEREAS, the proposed Project will promote affordable and adequate senior housing
within the City of Boulder, Colorado (the "City"); and
WHEREAS, nothing contained in this resolution shall constitute a debt or indebtedness
of the City within the meaning of the State Constitution or the City Home Rule Charter, nor give
rise to a pecuniary liability of the City or a charge against its general credit or taxing powers; and
WHEREAS, the Borrower has submitied to the Ciry written asswances that it will fully
comply with all applicable 2oning and development regulations and policies;
NOW, THEREFORE, BE 1T RESOLVED that the City Council of the City endorses the
Project and recommends that the Housing Authority of the County of Boulder, Colorado issue up
to $10,000,000 ofrevenue bonds pursuantto Sections 29-4-501 through 29-4-509 and Sections
29~-201 through 29-4-232, inclusive, Colorado Revised Statutes, as amended, and the
Supplemental Public Securities Act, Article 57 of Title 11, Colorado Revised Statutes, as
amended, to finance the Project.
BE Tf FLJRTHER RESOLVED that a copy of this resolution be forwarded to the
Authority and the Borrower by the Clerk of the City.
PASSED AND ADOPTED THIS 6T" DAY OF DECEMBER, 2005.
CITY OF BOULDER, COLORADO
By ~F~1 _~ F~i-^t ~ ,
Mayor