RESO 2006-01 - Assign authority to issue single family mortgage revenue & refunding bonds to Walker County, per SETHFCRESOLUTION NO. 2006-01
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
HUNTSVILLE, TEXAS, ASSIGNING THE AUTHORITY TO ISSUE
SINGLE FAMILY MORTGAGE REVENUE AND REFUNDING
BONDS TO WALKER COUNTY AS A SPONSORING POLITICAL
SUBDIVISION OF THE SOUTHEAST TEXAS HOUSING FINANCE
CORPORATION
WHEREAS, the City of HUNTSVILLE ("City"), located in WALKER County, which
is a sponsoring political subdivision of The Southeast Texas Housing Finance Corporation, a
public non-profit corporation duly organized under the laws of the State of Texas
("Corporation"), and operating pursuant to the Texas Housing Finance Corporations Act,
Chapter 394, Local Government Code, as amended (the "Act"); and
WHEREAS, one of the powers of the Corporation is to issue qualified mortgage
revenue bonds; and
WHEREAS, pursuant to the Act, a municipality with a population over 20,000
inhabitants located within a county which is a sponsoring political subdivision of a housing
finance corporation is excluded from the county for purposes of assessing eligibility for bond
issuance by the county as a sponsoring political subdivision of a housing finance corporation
unless the governing body of the municipality adopts a resolution approving the application of
the Chapter 394 to its property; and
WHEREAS, in order to participate under the Corporation's single family mortgage
revenue bonds, the City is required to approve the application of Chapter 394 to its property by
assigning its authority to issue mortgage revenue bonds to WALKER County;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF HUNTSVILLE, TEXAS:
Section 1. That the recitals hereinabove are found to be true and correct to the best
knowledge of the members of the City Council.
Section 2. That the City hereby approves the application of Chapter 394,
Government Code, to its property and assigns its authority to issue qualified single family
mortgage revenue and refunding bonds to WALKER County as a sponsoring political
subdivision of The Southeast Texas Housing Finance Corporation.
Section 3. That the Mayor and City Secretary are hereby authorized to execute and
attest this Resolution as the act and deed of the City.
Section 4. That this Resolution shall become effective immediately upon
execution and the assignment herein granted shall expire December 31, 2006.
HOUSTON: 022695.00002: 1060564v2
PASSED, APPROVED and ADOPTED this the (ri day of
2006.
ATTEST:
City Secretary
APPROVED AS TO F
City Attorney
2
HOUSTON: 022695.00002: 1060564v2
Mayor J. Tu