City and County of Denver - File #: 17-0849

• File #: 17-0849
• Version: 1
• Type: Resolution
• Status: Adopted
• File created: 7/25/2017
• In control: Finance & Governance Committee
• On agenda: 8/14/2017
• Final action: 8/14/2017
• Title: A resolution declaring the intent of the City and County of Denver, Colorado to use its best efforts to issue housing revenue bonds or mortgage credit certificates to provide financing of residential facilities for low- and middle-income families or persons; prescribing certain terms and conditions of such bonds and certificates; and containing other provisions relating to the proposed issuance of such bonds and certificates. Authorizes the City to carryforward $15,324,900 of unused 2017 private activity bonds and apply for additional volume cap allocation from the statewide balance to be utilized in future years, consistent with Colorado statutes and the Internal Revenue Code, for single family mortgage revenue bonds, multifamily housing bonds, and mortgage credit certificates. The Committee approved filing this resolution by consent on 8-1-17.
• Indexes: Shelley Smith

Date	Ver.	Action By	Action	Result
8/15/2017	1	Council President	signed
8/14/2017	1	City Council	adopted	Pass
8/1/2017	1	Finance & Governance Committee	approved by consent

Other/Miscellaneous Request Template (Appointments; ROW; Code Changes; Zoning Action, etc.)

Date Submitted: 07-25-17

Requesting Agency: Department of Finance
Division:

* Name: Michael
* Phone: 720-913-5550
* Email: michael.kerrigan@denvergov.org

Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).

Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A resolution declaring the intent of the City and County of Denver, Colorado to use its best efforts to issue housing revenue bonds or mortgage credit certificates to provide financing of residential facilities for low- and middle-income families or persons; prescribing certain terms and conditions of such bonds and certificates; and containing other provisions relating to the proposed issuance of such bonds and certificates.
Authorizes the City to carryforward $15,324,900 of unused 2017 private activity bonds and apply for additional volume cap allocation from the statewide balance to be utilized in future years, consistent with Colorado statutes and the Internal Revenue Code, for single family mortgage revenue bonds, multifamily housing bonds, and mortgage credit certificates. The Committee approved filing this resolution by consent on 8-1-17.
body

Affected Council District(s) or citywide? Citywide

Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
The proposed resolution is an administrative procedure, being undertaken to comply with Colorado Statutes to preserve the City's ability to issue private activity bonds in future years and ...