HomeMy WebLinkAbout992 - SUPPORTING the issuance of variable rate demand revenue bonds by the County of Boulder, ColoraRESOLUTION NO. 992
RESOLUTION OF THE BOULDER CITY COUNCIL
CONCERNING THE ISSUANCE OF VARIABLE RATE
DEMAND REVENUE BONDS BY THE COUNTY OF
BOULDER,COLORADO OR OTHER APPROPRIATE
ISSUING AUTHORITY FOR THE YMCA OF
BOULDER VALLEY, INC.
WHEREAS, the YMCA of Boulder Valley, Inc. (the "YMCA") will request the
County of Boulder, Colorado (the "County") or another appropriate issuing authority to
issue up to $3,25Q000 in principal amount of development revenue bonds pursuant to the
laws of the State of Colorado (the "State"), to provide the YMCA with funds to finance
certain improvements and equipment at the YMCA's Mapleton facility located at 2850
Mapleton Avenue, Boulder, Colorado including, but not limited to, an indoor pool and
improvements to the Wellness Center (the "ProjecY'); and
WHEREAS, the proposed Project will promote industry and develop trade or
other economic activity within the City of Boulder, Colorado (the "City") by inducing
nonprofit corporations to locate, expand or remain in the City, and will promote
employment and the maintenance of a balanced and stable economy in the City, thereby
promoting the public health, welfaze, safety, convenience and prosperity; 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 YMCA has submitted to the City written assurances that it will
fully comply with all applicable zoning and development regulations and policies.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City
endorses the Project and recommends that the Board of County Commissioners of the
County or other appropriate issuing authority issue up to $3,250,000 of development
revenue bonds pursuant to the County and Municipality Development Revenue Bond
Act, Article 3 of Title 29, 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 IT FURTHER RESOLVED, that a copy of this resolution be forwazded to the
Board of County Commissioners of the County or other appropriate issuing authority and
the YMCA by the Clerk of the City.
PASSED AND ADOPTED THIS ~ ~ DAY OF ~_~~¢~~~ ,~ , 2006.
CITY OF BOULDER, COLORADO
By ~ ..~
ayor
c I,~,j
[SEAL]
Attest
BY ~ ~~~~
City Clerk on beha of the
Director of Finance and Record