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HomeMy WebLinkAbout83-545 04-12-1983RESOLUTION NO. 83-545 A RESOLUTION GRANTING APPROVAL TO THE TARRANT COUNTY HOUSING FINANCE CORPORATION FOR THE USE OF ITS SERIES 1983A SINGLE FAMILY MORTGAGE REVENUE BONDS FOR ACQUIRING HOME MORTGAGES RELATED TO HOMES WITHIN THE CITY. WHEREAS, the creation of the Tarrant County Housing Finance Corporation (the "Corporation "), pursuant to the Texas Housing Finance Corporations Act, was approved by resolution of the governing body of Tarrant County (the "County "), adopted on the 14th day of April, 1980, to provide a means of financing the cost of residential owner- ship and development that will provide decent, safe, and sanitary housing for residents of the County at prices they can afford and WHEREAS, the Corporation has the power under the Act to issue its bonds, the aggregate principal amount of which issued in any calendar year shall not exceed the total of (a) the costs of issuance of such bonds, any reserves or resolutions authorizing the bonds, plus any bond discounts, and (b) the greater of (i) $20,000,000, (ii) a figure determined by multiplying $100 times the population of the County as determined by the Corporation's rules or regu- lations, resolutions relating to the issuance of bonds, or financing documents relating to such issuance, or (iii) an amount equal to 25 percent of the total dollar amount of the market demand for home mortgages during such calendar year as determined by zhe Corporation's rules or regulations, resolutions relating to the issuance of bonds, or financing documents relating to such issuance, to defray, in whole or in part, the costs of purchasing, or funding the making of home mortgages, and WHEREAS, the Board of Directors of the Corporation has requested the approval of the governing body of the City of Euless (the "City ") to acquire home mortgages related to hones within the City with the proceeds of a Series 1983A Single Family Mortgage Revenue Bond issue (the "Bonds "). NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EULESS, TEXAS, THAT: The governing body of the City hereby grants its approval to the Corporation for the use of proceeds of the Bonds for acquiring home mortgages related to homes within the City. To indicate the City's desire to participate in this program, a copy of this resolution will be forwarded to the Tarrant County Planning Department. ADOPTED AND APPROVED on this 12th day of April 1983, at a regular meeting of the Euless City Council. APPROVED: 77446P fairk.44e.6// Mayor ATTEST: CERTIFICATE FOR RESOLUTION GRANTING APPROVAL TO THE TARRANT COUNTY HOUSING FINANCE CORPORATION FOR THE USE OF ITS SERIES 1983A SINGLE FAMILY MORTGAGE REVENUE BONDS FOR ACQUIRING HOME MORTGAGES RELATED TO HOMES WITH THE CITY THE STATE OF TEXAS COUNTY OF TARRANT CITY OF EULESS We, the undersigned officers of the City Council of said City, hereby certify as follows: 1. The City Council of said City convened in REGULAR MEETING ON THE 12111 DAY OF April , 1983, at the designated meeting place, and the roll was called of the duly constituted officers and members of said City Council, to -wit: Mayor Harold D. Samuels, Mayor Pro Tem Willie Mae McCormick, Councilmen Bob Eden, Glenn Walker, Robert Pippin, and Ron Sternfels, and all of said persons were present, except the following absentees: thus constituting a quorum. Whereupon, among other busi- ness, the following was transacted at said Meeting: a written CERTIFICATE FOR RESOLUTION GRANTING APPROVAL TO THE TARRANT COUNTY HOUSING FINANCE CORPORATION FOR THE USE OF ITS SERIES 1983A SINGLE FAMILY MORTGAGE REVENUE BONDS FOR ACQUIRING HOME MORTGAGES RELATED TO HOMES WITH THE CITY was duly introduced for the consideration of said City Council and read in full. It was then duly moved and seconded that said Resolution be adopted; and, after due discussion, said motion, carrying with it the adoption of said Resolution, prevailed and carried by the following vote: AYES: All members of said City Council shown present above voted "Aye ", except NOES: None ABSTENTIONS: None 2. That a true, full, and correct copy of the afore- said Resolution adopted at the Meeting described in the above and foregoing paragraph is attached to and follows this Certificate; that said Resolution has been duly record- ed in said City Council's minutes of said. Meeting; that the above and foregoing paragraph is a true, full, and correct excerpt from said City Council's minutes of said Meeting pertaining to the adoption of said Resolution; that the persons named in the above and foregoing paragraph are the duly chosen, qualified, and acting officers and members of said City Council as indicated therein; and that each of the officers and members of said Board was duly and sufficiently notified officially and personally, in advance, of the time, place, and purpose of the aforesaid Meeting, and that said Resolution would be introduced and considered for adoption at said Meeting, and each of said officers and members consented, in advance, to the holding of said Meeting for such purpose; and that said Meeting was open to the public, and public notice of the time, place, and purpose of said Meeting was given, all as required by Vernon's Ann. Civ. Stat. Article 6252 -17. SIGNED AND SEALED the 12th day of (SEAL) April , 1983. Z/e, S?,/a Mayor