HomeMy WebLinkAbout 19-19 Metro Mtg Asst ProgRESOLUTION 19-19
A RESOLUTION
AUTHORIZING AND APPROVING TOWN'S PARTICIPATION IN THE
METRO MORTGAGE ASSISTANCE PLUS PROGRAM, AND
AUTHORIZING THE EXECUTION OF THE DELEGATION AND
PARTICIPATION AGREEMENT AND OTHER DOCUMENTS IN
CONNECTION THEREWITH.
WHEREAS, the State of Colorado (the "State") Constitution Article XIV, Section
18(2)(a) provides that nothing in the Constitution shall prohibit any of the State's political
subdivisions from cooperating with one another to provide any service lawfully authorized to
each of the cooperating units; and
WHEREAS, the City and County of Denver, Colorado ("Denver") is authorized pursuant
to its Home Rule Charter to promote the financing of mortgage loans for low- and moderate -
income persons or families intended for use as the sole place of residence by the owners or
intended occupants thereof; and
WHEREAS, Denver sponsors the Metro Mortgage Assistance Plus Program to provide
competitive mortgage loans which will be coupled with down payment and closing cost
assistance in connection with financing mortgage loans for low- and moderate- income persons
or families intended for use as the sole place of residence by the owners or intended occupants
thereof (the "Program"); and
WHEREAS, Denver has invited the Town of Firestone (the "Town") to participate in the
Program; and
WHEREAS, the Town has the full legal authority to participate in the Program pursuant
to its Municipal Code and the general powers granted to it in Title 29, Article 1, Section 203 of
the Colorado Revised Statutes, as amended; and Title 31, Article 15, Section 101 et seq.,
Colorado Revised Statutes, as amended (collectively, the "Act"); and
WHEREAS, the Town desires to delegate to Denver the authority of the Town to take
action and exercise power under the Act on behalf of the Town with respect to the Program
within the Town's boundaries;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES OF
THE TOWN OF FIRESTONE:
Section 1. In order to benefit the residents of the Town, the Firestone Town Board
authorizes and approves its participation in the Program in connection with the financing of
mortgage loans for low —and moderate —income families or persons intended for use as the sole
place of residence by the owners or intended occupants thereof, and the Town delegates to
Denver the authority of the Town to take action and exercise power under the Act on behalf of
the Town with respect to the Program.
4845-7447-0272.1
Section 2. The Mayor of the Town is hereby authorized and directed to execute and
deliver and the Town Cleric is hereby authorized and directed to attest and deliver the Delegation
and Participation Agreement attached hereto as Appendix A and such other agreements and
certificates and to take such other actions as may be necessary or convenient to carry out and
give effect to the Town's participation in the Program.
Section 3. Nothing contained in this Resolution or the Assignment shall constitute a
debt, indebtedness or multiple -fiscal year direct or indirect debt or other financial obligation of
the Town within the meaning of the Constitution or statutes of the State of Colorado of any
political subdivision thereof, nor give rise to a pecuniary liability of the Town or a charge against
its general credit or taxing powers.
Section 4. If any section, paragraph, clause or provision of this Resolution 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 S. This Resolution shall be in full force and effect upon its passage and
approval.
Adopted this 27th day of March, 2019.
ATTEST:
Leah Vanarsdall, Town Cleric
TOWN OF FIRESTONE, COLORADO
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