HomeMy WebLinkAboutRES 03-005 RESOLUTION NO. 03-005
RESOLUTION AUTHORIZING DONATION OF FUNDS
THE STATE OF TEXAS §
COUNTY OF JEFFERSON §
CITY OF BEAUMONT §
WHEREAS, the Beaumont Housing Finance Corporation (the
"Issuer") has heretofore issued certain bonds pursuant to the
Texas Housing Finance CorporatioiT, Act, Chapter 394, Texas Local
Government Code, as amended (the "Act") ;
WHEREAS, in connection with the recent defeasance of said
bonds, the Issuer received from the Trustee of the Bonds the
remaining funds held under the Bond Trust Indenture in the amount
of $ 15,497.51 (herein referred to as the "Proceeds) ; and
WHEREAS, Section 394 . 033 (d) of the Texas Local Government
Code authorizes the Corporation to make donations for the public
welfare or for charitable, scientific or educational purposes; and
WHEREAS, the Issuer desires to use and donate the Proceeds
realized for the purposes set forth herein;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE BEAUMONT HOUSING FINANCE CORPORATION:
1 . Consideration. It is hereby found and determined that
the transactions contemplated by this Resolution will benefit the
Issuer and will be in the best interest of the public welfare and
in accordance with the purposes and intent of Section 394 . 033 of
the Act.
2 . Donation of Proceeds . Pursuant to Section 394 . 033 of
the Act, the Board of Directors of the Issuer hereby authorizes
and directs the Issuer to donate the Proceeds for charitable,
scientific or educational purposes, and specifically, the Issuer
is authorized to donate the Proceeds to the charitable
organizations listed in EXHIBIT "A" attached hereto and
incorporated herein by reference.
3 . Further Action. The President and any other officer
of the Issuer is hereby authorized and directed to take all action
as may be necessary or appropriate to effectuate this Resolution
and the donation of the Proceeds to the charitable organizations
in accordance with the terms of this Resolution.
4 . Investment of Proceeds. Until such time as the
Proceeds have been donated to the charitable organizations as
authorized above, the Board of Directors hereby authorizes and
ratifies the investment of the Proceeds into the City of Beaumont
general operating account, which Proceeds shall be held and shown
on the books and records of the City on behalf of the Issuer.
5 . Open Meeting. It is hereby officially found and
determined that the meeting at which this Resolution was adopted
was open to the public, and public notice of the time, place and
purpose of said meeting was given, all as required by Chapter 551
of the Texas Government Code Annotated, Vernon' s 1994, as amended.
6 . Severability. If any Section, paragraph, clause or
provision of this Resolution shall for any reason be held to be
invalid or unenforceable, the invalidity or unenforceability of
such Section, paragraph, clause or- provision shall not affect any
of the remaining provisions of this Resolution.
7 . Repealer. All orders, resolutions, and ordinances, and
parts thereof inconsistent herewith are hereby repealed to the
extent of such inconsistency.
PASSED AND APPROVED this 7th of January, 2003 .
Evelyn rd, President
BEAUMONT HOUSING FINANCE
CORPORATION
ATTEST:
Lulu Smith, Secretary
BEAUMONT HOUSING FINANCE CORPORATION
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EXHIBIT "A"
The Proceeds will be donated to the following charitable
organizations and/or used for the following scientific,
educational or charitable purposes :
Beaumont Library
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NOTICE OF MEETING
OF THE
BEAUMONT HOUSING FINANCE CORPORATION
Notice is hereby given to all interested members of the public that the Board of Directors of
the BEAUMONT HOUSING FINANCE CORPORATION, will hold a meeting as follows:
DATE: January 7, 2003
TIME: 1:30 p.m.
Place: Beaumont City Hall
City Council Chambers, 1 st Floor
801 Main Street
Beaumont, Texas
Subject: The agenda for such meeting shall include the consideration of and,if deemed
advisable by the Board of Directors, the taking of action upon a written
RESOLUTION AUTHORIZING DONATION OF FUNDS
Open to Public: The meeting will be open to the public at all times during which such subject
is discussed, considered and formally acted upon as required by the Open Meetings Law(compiled
as Chapter 551 of the Texas Government Code Annotated, Vernon's 1994, as amended).
This Notice of Meeting is intended to be a supplemental notice for the purpose of adding an
additional subject to the agenda for such meeting which has been called,and for which notice thereof
has been separately posted in accordance with the Open Meetings Law. If,however,notice has not
been previously posted in accordance with the Open Meetings Law,this notice shall constitute,in and
of itself, a complete notice of such meeting for the purpose of discussing, considering, and acting
upon the subject matter stated above.
BEAUMONT HOUSING FINANCE CORPORATION
By:
Name:
Title: