HomeMy WebLinkAbout84-570 07-24-1984RESOLUTION NO. 84 -570
A RESOLUTION GRANTING APPROVAL TO THE TARRANT COUNTY
HOUSING FINANCE CORPORATION FOR THE USE OF ITS SERIES 1984A
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 ownership 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 (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 and regulations, resolutions relating to the issuance
of bonds, or amount equal to 25 percent of the total dollar amount of the market demand for
home mortgages during such calendar year as determined by the 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 marking
of home mortgages, and
WHEREAS, the Board of Directors of the Corporation has requests the approval of
the governing body of the City of Euless (the "City ") to acquire home mortgages related to
homes within the City with the proceeds of a Series 1984A 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
resolution will be forwarded to the Tarrant County Planning Department.
copy of this
ADOPTED AND APPROVED on this 24th day of July
regul ar meeting of the Euless City Council.
ATTEST:
ry
APPROVED:
, 1984, at a
7C 7ie? i44"t& 4 4 A t 6.--
Mayor
CERTIFICATE FOR
RESOLUTION GRANTING APPROVAL TO THE
TARRANT COUNTY HOUSING FINANCE CORPORATION
FOR THE USE OF ITS SERIES 1984A
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 RFGULAR MEETING Old THE
24th DAY OF July , 1984, at the designated meeting place, and the roll
was called of the duly constituted officers and members of said City Council to -wit:
Mayor Pro Tem Willie Mae McCormick; Councilmen Robert Pippin, Glenn Walker,
and Ron Sternfels,
and all of said persons were present, except the following absentees:
Mayor Harold D. Samuels and Councilman Bob Eden
thus constituting a quorum. Whereupon, among other business, 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 1984A
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 the 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 aforesaid 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 recorded 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 24th day of July
(SEAL)
, 1984.
City Secr ry Mayor