RESO 2002-07 - Southeast TX HousingRESOLUTION NO. 2002 -07
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF HUNTSVILLE, TEXAS,
ASSIGNING THE AUTHORITY TO ISSUE SINGLE FAMILY MORTGAGE REVENUE
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
fmance 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 bond
programs, 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 mortgage 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, 2002.
PASSED, APPROVED and ADOPTED this the 5th
ATTEST:
APPROVED AS TO FORM:
day of February
, 2002.