HomeMy WebLinkAboutRES 82-118 If- d�pg-/ / 8
R E S O L U T I O N
RESOLUTION CONSENTING TO THE MAKING AND
ACQUISITION OF HOME MORTGAGES BY JEFFERSON
COUNTY HOUSING FINANCE CORPORATION WITHIN
THE CITY OF BEAUMONT AND ASSIGNING TO
JEFFERSON COUNTY THE AUTHORITY OF THE CITY
OF BEAUMONT TO ISSUE HOUSING BONDS FOR HOME
MORTGAGES PRIOR TO JUNE 1, 1982.
WHEREAS, Jefferson County Housing Finance Corporation
(the "Corporation" ) has been duly created and organized under the
provisions of the Texas Housing Finance Corporations Act, Article
12691-7, Vernon' s Texas Civil Statutes, as amended (the "Act" ) , as
a housing finance corporation acting on behalf of Jefferson County ,
Texas ( the "County") , and having the power to make and acquire home
mortgages to finance homes for persons of low and moderate income
within the County; and,
WHEREAS, the Act provides that the Corporation may not
make or acquire home mortgages to finance homes located within a
city within the County having a population in excess of 20,000
without the consent and approval of the governing body of such
city, and Article 12691-8, Vernon's Texas Civil Statutes, as
amended, provides that, for purposes of determining the portion of
the state ceiling on housing bonds for home mortgages imposed by
Section 103A of the Internal Revenue Code of 1954, as amended, that
the Corporation may reserve prior to June 1, 1982, there shall be
excluded from the population of the County that portion of the
population of any city which has also created a housing finance
corporation having the power to make and acquire home mortgages and
which has a population (as determined in accordance with the 1980
decennial census) in excess of 20,000, unless the governing body of
such city assigns its authority to issue bonds prior to June 1 ,
1982, to the County; and,
WHEREAS, the City of Beaumont, Texas ( the "City" ) , is
located within the County, has previously created a housing finance
corporation having the power to make and acquire home mortgages,
and has a population (based on the 1980 decennial census) in excess
of 20,000; and,
WHEREAS, the Corporation has advised the governing body
of the City of the Corporation's intention to issue its Single
Family Mortgage Revenue Bonds, Series 1982, and to adopt and
implement its Single Family Mortgage Purchase Program, and has
requested that the governing body of the City consent to and
approve the making and acquisition of home mortgages by the
Corporation to finance homes located within the City, and that the
governing body of the City assign to the County the City's
authority to issue housing bonds for home mortgages prior to June
1 , 1982; and,
WHEREAS, in order to promote and enhance governmental
efficiency and to assist the Corporation in meeting the goals and
purposes of the Act to make available within the County home
mortgages for persons of low and moderate income, the governing
body of the City has determined to comply with the Corporation's
request as set forth in the preceding paragraph;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
Section 1. That the governing body of the City hereby
consents to and approves the making and acquisition by the
Corporation or its agents or representatives of home mortgages to
finance homes located within the City, all under and in accordance
with the Act.
Section 2. That, in accordance with the provisions of
Article 12691-8, Vernon's Texas Civil Statutes, as amended, the
City hereby assigns to the County and City's authority to issue
housing bonds for home mortgages prior to June 1, 1982, to the end
that the population of the City may be included within the
population of the County for purposes of determining the portion of
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the local share of the state ceiling on such housing bonds imposed
by Section 103A of the Internal Revenue Code of 1954, as amended,
that the Corporation may reserve prior to June 1 , 1982.
Section 3. That the governing body of the City hereby
finds, determines and declares that the adoption of this resolution
is in the best interests of the City and will help to accomplish
the public purposes intended to be accomplished by the Act.
Section 4. The governing body has considered evidence of
the posting of notice of this meeting and officially finds,
determines, recites and declares that a sufficient written notice
of the date, hour, place and subject of this meeting and of the
subject matter of this resolution was posted for at least
seventy-two (72) hours before the scheduled time of this meeting;
that such notice was posted on a bulletin board located at a place
convenient to the general public in the City Hall, within the City;
that such place was readily accessible 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 hereof 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, and the governing body further
ratifies, approves and confirms such written notice and the
contents and the posting thereof.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the seze day of >974A Ie_� , 19 4z .
Mayor -
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