Loading...
CC Resolution No. 11562136 RESOLUTION NO. 1156 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN APPROVING ARTICLES OF AMENDMENT TO THE ARTICLES OF INCORPORATION OF THE BAYTOWN HOUSING FINANCE CORPORATION; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. ********************************** * * * * * * * * * * * * * * * * * * * * * * * * * * * * * ** WHEREAS, The Baytown Housing Finance Corporation (the "Corporation ") will refinance Series 1979 Single Family Mortgage Revenue Bonds which will result in a minimum 1.2 million dollar benefit to the City of Baytown; and WHEREAS, The Corporation has been duly and properly created and organized under the Texas Housing Finance Corporations Act, as amended, formerly compiled as Article 12691 -7, Vernon's Annotated Texas Civil Statutes, and now codified as Texas Local Government Code, Chapter 394 (the "Act); and WHEREAS, the Corporation's Articles of Incorporation, as filed with the Secretary of the State of the State of Texas (the "Articles "), provide that the Articles may be amended by written resolution of the City Council of the City of Baytown, Texas; and WHEREAS, the City Council of the City of Baytown desires to amend the Articles; 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 hereby approves the Articles of Amendment to the Articles in substantially the form attached hereto as Exhibit "A" and authorizes the Mayor and City Clerk to execute the Articles of Amendment in duplicate. Section 2: That the City Council of the City of Baytown hereby authorizes the Mayor to cause such Articles of Amendment to be filed with the Secretary of State of the State of Texas in the manner provided in the Act. Section 3: This resolution shall take effect immediately from and after its passage by the City Council of the City of Baytown. INTRODUCED, READ, and PASSED, by the affirmative vote of the City Council of the City of Baytown, this the 21st day of September, 1992. BOBBY EDILLE, Mayo ATTEST: EIEI EE�LL, City C44� i� 2 z ACID RAM RE , R., City Attorney C:1:27:7 - 2 - 2137 2135 ARTICLES OF AMENDMENT TO ARTICLES OF INCORPORATION OF THE BAYTOWN HOUSING FINANCE CORPORATION We, the undersigned, the Mayor and City Clerk of the City of Baytown, Texas, being the presiding officer of the governing body of the local government and the local government's clerk, respectively, in accordance with the provisions of the Texas Housing Finance Corporations Act, as amended, formerly Article 12691 -7, Vernon' a Annotated Texas Civil Statutes, and now codified as Texas Local Government Code, Chapter 394, do hereby adopt the following Articles of Amendment to the Articles of Incorporation of The Baytown Housing Finance Corporation: AMENDMENT ARTICLE I Article IV of the Articles of Incorporation dated August 23, 1979 is amended as follows: The corporation is organized solely to carry out the purposes of the Texas Housing Finance Corporations Act and shall have and possess all powers enumerated in such Act, except that the corporation shall not have the power to make home mortgages or to make loans to lending institutions, the proceeds of which are to be used for making home mortgages or to make loans on residential develop- ments. Notwithstanding the foregoing, the corporation shall have the power to issue bonds to refund in whole or in part at any time bonds previously issued under the Texas Housing Finance Corporations Act by the corporation. AMENDMENT ARTICLE II These Articles of Amendment to the Articles of Incorporation of the Corporation have been adopted and approved by a majority vote of the members in office of the City Council, which is the governing body of the City of Baytown, Texas, at a special meeting held on the 21st day of September, 1992. ATTEST: City Clerk Mayor EXHIBIT A 2139 THE STATE OF TEXAS § COUNTY OF HARRIS § Before me, a notary public, on this day personally appeared Bobby J. Credille, known to me to be the person whose name is subscribed to the foregoing document and, being by me first duly sworn, declared that the statements therein contained are true and correct. Given under my hand and seal of office this _ day of September, 1992. (SEAL) a:lbaylwv mend -la(1 Notary Public Signature Notary Public Printed or Typed Name My commission expires: 2-