RESO 1985-13 - Mortgage LoansCITY OF HUNTSVILLE
RESOLUTION NO. 85-13
RESOLUTION AUTHORIZING, APPROVING AND AUTHORIZING MORTGAGE LOANS OF
THE SOUTHEAST TEXAS HOUSING FINANCE CORPORATION BOND PROGRAMS TO BE
MADE WITHIN THE CITY; CONTAINING OTHER PROVISIONS RELATING TO THE
SUBJECT; AND DECLARING AN EMERGENCY
WHEREAS, the County of Walker is a sponsoring political subdivision of The
Southeast Texas Housing Finance Corporation (the "Corporation") which
Corporation has, on behalf of its sponsoring political subdivisions and other
consenting jurisdictions, issued several single family mortgage revenue bond
issues, including but not limited to The Southeast Texas Housing Finance
Corporation Single Family Mortgage Revenue Bonds, 1985 Series A;
WHEREAS, Lenders and Builders in the City have participated and desire to
continue to participate in the use of the proceeds of such bond issues to make
low cost Mortgage Loans within the City;
WHEREAS, the City Council has determined, upon its own motion, to adopt
the following resolution; and
NOW THEREFORE, BE IT RESOLVED BY THE City Council of the City of
Huntsville, Texas:
Section 1. That the City Council officially finds, determines, recites
and declares that (1) it is wise, expedient, necessary and advisable that
there be provided in the City a means of financing the cost of residential
ownership and development that will provide decent, safe and sanitary housing
for residents of the City at prices that they can afford; (2) that such
residential ownership and development will (a) provide for and promote the
public health, safety, morals and welfare; (b) relieve conditions of
unemployment and encourage the increase of industry and commercial activity
and economic development so as to reduce the evils attendant upon
unemployment; (c) provide for efficient and well-planned urban growth and
development including the elimination and prevention of potential urban blight
and the proper coordination of industrial facilities with public services,
mass transportation and residential development; (d) assist persons of low and
moderate income in acquiring and owning decent, safe and sanitary housing
which they can afford; and (e) preserve and increase the ad valorem tax basis
of the City; (3) that in order to accomplish the foregoing public purposes and
benefits and in order that the Corporation may be authorized to more
efficiently and broadly carry out the public purposes for which it is
incorporated, to exercise the powers with which it is invested by the laws of
the State of Texas, its sponsoring political subdivisions and its Articles of
Incorporation, including the power to issue its obligations to accomplish such
purposes and powers, as a public instrumentality and nonprofit corporation to
exist and act on behalf of and for the benefit of the general public, the
City, the other Sponsoring Political Subdivisions, other cities and/or
counties located within the State Planning Region, and the State of Texas, the
City hereby authorizes the making of Mortgage Loans of programs of the
Corporation, including, specifically, but not limited to, The Southeast Texas
Housing Finance Corporation Single Family Mortgage Revenue Bonds, Series 1985
A Program, within the City, until written notice of revocation of such
authority is received by the Corporation.
Section 2. That the Mayor and the City Secretary of the City and other
appropriate officials of the City are hereby authorized and directed to
execute all appropriate Certificates and to do any and all other things
necessary and/or convenient to carry out the provisions of this resolution.
Section 3. That a duly certified copy of this resolution shall be
admissable in evidence in any suit,. action or proceeding involving the
validity or enforcement of or otherwise relating to any contract of the
Corporation, and shall be deemed conclusive proof that the Corporation has
been authorized to be formed and to transact business and exercise its powers
pursuant to the provisions of the Act.
Section 4. That this resolution and all the terms and provisions hereof
shall be liberally construed to effectuate the purposes set forth herein and
to sustain the validity of the authorization of the formation and operation of
the Corporation. If any word, phrase, clause, sentence, paragraph, section or
other part of this resolution, or the application thereof to any person or
circumstance, shall ever be held to be invalid or unconstitutional by any
court of competent jurisdiction, the remainder of this resolution and the
application of such word, phrase, clause, sentence, paragrpah, section or
other part of this resolution to any other persons or circumstances shall not
be affected thereby.
Section 5. That the City Council has considered evidence of the posting
of notice of this meeting of the City, and the City Council officially finds,
determines, recites and declares that a sufficient written notice of the date,
place, and hour of this meeting of the City Council and of the subject of this
resolution was posted for at least seventy-two hours before this meeting was
convened; that such notice was posted on a bulletin board in the City Hall
located at a place convenient to the general public at all times from the time
of posting until this meeting was convened; and that this meeting has been
open to the public at all times during which this resolution and the subject
matter thereof has been discussed, considered and formally acted upon; all as
required by the Open Meetings Law, Article 6252-17, Vernon's Annotated Texas
Civil Statutes, as amended. The City Council further ratifies, approves and
confirms such written notice and the contents and posting thereof.
Section 6. That the City Council officially finds, determines, recites,
and declares that the need for the City to authorize the Corporation to make
Mortgage Loans within the City at the earliest possible date is necessary for
the immediate preservation of health and safety and creates an emergency and
urgent public necessity; that this resolution is therefore declared to be an
emergency measure; and that written notice of the date, place and hour of this
meeting and the subject matter of this resolution shall be sufficient
notwithstanding that such written notice may not have been posted for 72 hours
before this meeting was convened.
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0454S
4,
PASSED AND APPROVED this 18th day of June, 1985.
4-2..",)
Mayor
ATTEST:
0454S