STHFCSingleFamilyMortgageRevenueBonds113000A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS; AUTHORIZING AND DIRECTING THE MAYOR TO EXECUTE THE GENERAL CERTIFICATES OF LOCAL GOVERNMENTAL UNIT RELATING TO THE ISSUANCE
OF SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2000C AND TAX EXEMPT SECOND MORTGAGE BONDS, SERIES 2000D, BY SOUTHEAST TEXAS HOUSING FINANCE CORPORATION; AND PROVIDING FOR THE EFFECTIVE
DATE THEREOF.
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WHEREAS, the Southeast Texas Housing Finance Corporation (the “Corporation”) has proposed
offering the following:
Single Family Mortgage Revenue Bonds, Series 2000C, in an amount not to exceed $30,000,000, to recapture some funds from previously issued single family mortgage
revenue bonds; and
Tax Exempt Second Mortgage Bonds, Series 2000D, in an amount not to exceed $1,500,000, for use in generating new mortgages and to provide borrowers of low-to-moderate
income with down payment and closing cost assistance; and
WHEREAS, the issuance of the above-referenced bonds is expected to advance the Corporation’s continued efforts in providing
safe, decent, sanitary and affordable housing to residents of its sponsoring political subdivisions, including the City of Baytown; and
WHEREAS, to gain approval of the Texas Attorney
General’s Office for the issuance of the bonds, the Corporation has asked that the City of Baytown confirm certain information regarding the Corporation; NOW THEREFORE
BE IT RESOLVED
BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section 1: That the City Council of the City of Baytown, Texas, hereby authorizes and directs the Mayor to execute the General Certificate
of Local Governmental Unit relating to the issuance of Single Family Mortgage Revenue Bonds, Series 2000C and Tax Exempt Second Mortgage Bonds, Series 2000D by Southeast Texas Housing
Finance Corporation, which certificate is attached hereto as Exhibit “A” and made a part hereof for all intents and purposes. The Mayor is further directed to execute the certificate
of highest elected official and to authorize the Attorney General of the State of Texas, any Assistant Attorney General of the State of Texas or any of their respective delegates or
assigns, to complete the date on the certificate.
Section 2: This resolution shall take effect immediately from and after its passage by the City Council of the City of Baytown, Texas.
INTRODUCED, READ and PASSED, by the affirmative vote of the City Council of the City of Baytown this the 30th day of November, 2000.
____________________________________
PETE C. ALFARO,
Mayor
ATTEST:
___________________________________
GARY W. SMITH, City Clerk
APPROVED AS TO FORM:
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IGNACIO RAMIREZ, SR., City Attorney
c:klh256\Council\Resolutions\STHFCSingleFamilyMortgageRevenueBonds113000