RESO 1996-22 - SETH Mortgage Revenue BondsRESOLUTION NO. 96 -22
A RESOLUTION ASSIGNING THE AUTHORITY TO ISSUE
QUALIFIED MORTGAGE REVENUE BONDS TO WALKER
COUNTY AS A SPONSORING POLITICAL SUBDIVISION OF THE
SOUTHEAST TEXAS HOUSING FINANCE CORPORATION
WHEREAS, the City of Huntsville (hereinafter, the "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, more particularly, the Texas Housing Finance Corporations Act, Chapter
394, Local Government Code, as amended (the "Corporation "); and
WHEREAS,one of the powers of the Corporation is to issue qualified mortgage
revenue bonds by making application for an allotment from the State through the Texas
Bond Review Board; and
WHEREAS, pursuant to Title 34, Part IX, § 190.1(c)(33), Texas Administrative
Code, local governments such as the City with a population over 20,000 people located
within a county which is a sponsoring political subdivision of a housing finance corporation
must assign its authority to issue qualified mortgage bonds, based upon its population, to
the larger local governmental unit; and
WHEREAS, in order to participate under the Corporation's Single Family
Program, the City would like to assign its authority to Walker County;
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF THE
CITY OF HUNTSVILLE, THAT:
The recitals hereinabove are found to be true and correct to the best knowledge
of the members of the governing body of the City.
II.
The City hereby assigns its authority to issue qualified mortgage bonds to
Walker County as a participant of The Southeast Texas Housing Finance Corporation's
Single Family Program.
The Mayor and City Secretary are hereby authorized to execute and attest this
Resolution as the act and deed of the City.
P 7L/
IV.
This Resolution shall become effective immediately upon execution and the
assignment herein granted shall expire December 31, 1997.
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PASSED and APPROVED December 17, 1996.
Danna Welter, City Secretary
APPIOVED AS TO FORM:
Scott Bounds, City Attorney
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CITY OF HUNTSVILLE
William B. Green, Mayor