HomeMy WebLinkAboutordinance.council.025-18 ORDINANCE NO. 25
Series of 2018
A ORDINANCE OF THE CITY COUNCIL OF THE CITY OF ASPEN
AUTHORIZING THE PURCHASE BY THE CITY OF REVENUE BONDS
ISSUED BY THE COLORADO HOUSING AND FINANCE AUTHORITY.
WHEREAS the provision of affordable housing is important to allow people who work in
the City of Aspen (the "City") and Pitkin County to live near where they work and to be part of
the community; and
WHEREAS, C.R.S. §29-4-723 provides that public entities like the City may invest in
bonds issued by the Colorado Housing and Finance Authority ("CHAFA") if such bonds satisfy
the investment requirements of part 6 of article 75 of Title 24, C.R.S.; and
WHEREAS, C.R.S. §24-75-601.1(3)provides that a home rule city may invest any public
funds in any security or investment permitted under ordinance of the city; and
WHEREAS, in order to obtain financing for the acquisition, rehabilitation and equipping
of affordable housing projects benefitting people who live and work in the City and Pitkin
County, the Council wishes to authorize the investment of City funds in bonds issued by
CHAFA.
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
ASPEN:
Section 1
The Council hereby authorizes investment of City funds in bonds issued by CHAFA if the
Council adopts a resolution approving such investment.
Section 2•
All ordinances, or parts thereof, inconsistent herewith are hereby repealed to the extent only of
the inconsistency.
Section 3.
This ordinance shall not affect any existing litigation and shall not operate as an abatement of any
action or proceeding now pending under or by virtue of the ordinances repealed or amended as
herein provided, and the same shall be conducted and concluded under such prior ordinances.
INTRODUCED AND APPROVED ON FIRST READING by the City Council of the
City of Aspen on the 17th day of September 2018.
Steve adron, ayor
AAttt:naanning, City Clerk
ADOPTED AND APPROVED ON SECOND READING by the City Council of the City of
Aspen on the 24th day of September 2018.
� f I j S - L
Steven S ad on,Mayor
Att t•
Linda Manning, City Clerk
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