RESO 2004-09 - Assign authority to issue single family mortgage revenue bonds to Walker County, per SETHFCRESOLUTION NO. 2004-09
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 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 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, 2004.
W:\ CITY - SEC\AGN- MTS \0b- 15- 04\seth- res.doc
PASSED, APPROVED and ADOPTED on this the 15th day of June 2004.
ATTEST:
Danna Welter, City Secretary
APPROVED AS TO FORM:
Thomas A. Leep�r, C t�l y Attorney
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