CC Resolution No. 1368 2602
RESOLUTION NO. 1368
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN,
TEXAS, APPROVING THE REFINANCING OF THE SINGLE FAMILY
MORTGAGE REVENUE BONDS, SERIES THE 1987A AND 1988A OF THE
SOUTHEAST TEXAS HOUSING FINANCE CORPORATION; DIRECTING THE
MAYOR TO EXECUTE THE APPROPRIATE CERTIFICATES EVIDENCING
THE APPROVAL OF THE SAME; AND PROVIDING FOR THE EFFECTIVE
DATE THEREOF.
WHEREAS, the Southeast Texas Housing Finance Corporation (the "Corporation") has
proposed making additional mortgage funds available for first-time home buyers and, for a limited
time, anyone living in counties recently declared disaster areas by the President by refinancing
portions of the Corporation's 1987A and 1988A Single Family Mortgage Revenue Bond Programs
(the "Bond Programs"); and
WHEREAS,the additional mortgage funds for the Bond Programs are 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 and execute certain documents evidencing the public's approval of the proposed Bond
Program; and
WHEREAS, at the public hearing on October 28, 1998, held by the Corporation, in
compliance with federal law, concerning the Bond Program, no member of the public attended to
speak or discuss such program; 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 evidences its
approval of the refinancing portions of the Corporation's Single Family Mortgage Revenue Bonds,
Series 1987A and 1988A and authorizes the Mayor to execute the documents entitled "General
Certificate of Local Governmental Unit" and "Certificate of Highest Elected Official Evidencing
Public Approval pursuant to §147(f)of the Internal Revenue Code of 1986, as amended," which are
attached hereto as Exhibits "A" and `B," respectively, and made a part hereof for all intents and
purposes. The Mayor is further directed to authorize the Attorney General of the State of Texas, any
Assistant Attorney General of the State of Texas or any or their respective delegates or assigns, to
complete the date on the general certificate.
Section 2: This resolution shall take effect immediately from and after its passage by the
City Council of the City of Baytown, Texas.
2603
INTRODUCED,READ and PASSED,by the affirmative vote of the City Council of the City
of Baytown this the 12`h day of November, 1998.
PETE C. ALFARO, Mayor
ATTEST:
EILEEN P. HALL, City Clerk
APPROVED AS TO FORM:
-9,L�
ACIO RAMIREZ, SkjOity Attorney
cklh 116\Council\Resolutions\SingleFamilyRevBondsSTHFC
2
October 14, 1998
Jim Thomassen, Chief
Public Finance Division
Office of the Attorney General
Price Daniel Building
209 West 14th Street, 6th Floor
Austin, Texas 78701
RE: The Southeast Texas Housing Finance Corporation-- Single Family
Mortgage Revenue Refunding Bonds, Series 1998B
Dear Mr. Thomassen:
By this letter, the Attorney General of the State of Texas, any Assistant Attorney General or
any of their respective delegates or assigns, is authorized to complete the date of the "General
Certificate of Local Governmental Unit' of the undersigned Local Governmental Unit and to rely
upon such information unless notified otherwise.
By:
Printed Name: Pete C. Alfaro
Title: Mayor
LOCAL GOVERNMENTAL UNIT
City of Baytown
S.\SETKSFAMILY\Series 1998-B\Igu cert t0ty).%vN
October 14,1998
EXHIL A
GENERAL CERTIFICATE
OF LOCAL GOVERNMENTAL UNIT
I have executed this Certificate for the benefit of all persons interested in the validity of the
proceedings of The Southeast Texas Housing Finance Corporation (the "Issuer") related to the
issuance by the Issuer of its Single Family Mortgage Revenue Refunding Bonds, Series 1998B in
an amount not to exceed $17,000,000 (the "Bonds"). Capitalized terms used herein and not
otherwise defined shall have the same meanings ascribed to such terms in the Texas Housing
Finance Corporations Act, Chapter 394, Texas Local Government Code, as amended (the "Act").
I hereby certify as follows:
1. I am the duly elected and incumbent official of City of Baytown (the
"Local Governmental Unit") holding the office indicated below.
2. The Issuer has been authorized to act on behalf of the Local Governmental Unit by
action of the governing body of the Local Governmental Unit.
3. The Restated Articles of Incorporation of the Issuer have been approved by the
governing body of the Local Governmental Unit. The minutes of the governing body of the Local
Governmental Unit do not reflect any amendment to the Restated Articles of Incorporation of the
Issuer.
4. The minutes of the governing body of the Local Governmental Unit do not reflect any
action for the purpose of(i)changing the structure,organization,programs or activities of the Issuer,
(ii)terminating the Issuer, (iii) withdrawing from the Issuer or(iv) limiting the effectiveness of the
resolution of the Issuer's board of directors authorizing the issuance of the Bonds or otherwise
affecting the Bond transaction.
5. Except for the Issuer, the Local Governmental Unit has not created or authorized to
act on its behalf any housing finance corporation(including any joint housing finance corporation),
except a housing finance corporation that has no power to make home mortgages or to make loans
to lending institutions, the proceeds of which are to be used to make home mortgages or to make
loans on residential developments.
6. The Local Governmental Unit has appointed the individual named below to act as a
member of the board of directors of the Issuer for a term ending as indicated below. That individual
is a resident of a Local Governmental Unit which is a member of the Issuer. The minutes of the
governing body ofthe Local Governmental Unit do not reflect that such individual has been removed
as a member of the Issuer's board of directors.
S:\SETX\SFAMILrSeries 1998-6\Igu cen Pty)mpd
October 14, 1998
7. No litigation is pending or, to my knowledge, threatened against the Local
Governmental Unit relating to the Issuer, the Bonds, the proceeding regarding the issuance of
Bonds,the bonds being refunded with the Bonds,the representation on the Issuer's board of directors
of the Local Governmental Unit, or the participation of the Local Governmental Unit in the Issuer
or the Program.
Signature:
Printed Name: Pete C. Alfaro
OFFICE:
Mayor
Mayor ProTem ❑
City Secretary ❑
LOCAL GOVERNMENTAL UNIT:
City of Baytown
Name of Member of Expiration of
Issuer's Board of Directors: Daniel Sandoval Director's Term: 01/26/01
[DO NOT DATE THIS PAGE]
Date of this
Certificate:
&:SETX\SFAMILY\Series 1998-B\Igu cen(City).wpd
October 14, 1998
CERTIFICATE OF HIGHEST ELECTED OFFICIAL
EVIDENCING PUBLIC APPROVAL PURSUANT TO
§147(f) OF THE INTERNAL REVENUE CODE OF 1986,AS AMENDED
WHEREAS,The Southeast Texas Housing Finance Corporation(the"Corporation")has, in accordance wit
the provisions of the Housing Finance Corporations Act, Chapter 394, Local Government Code, as amended, duly
authorized the issuance of The Southeast Texas Housing Finance Corporation Single Family Mortgage Revenue
Refunding Bonds in one or more series in an aggregate principal amount not to exceed$18,000,000(the`Bonds"). The
Corporation authorized the issuance of the Bonds to provide funds to purchase (i) fully modified mortgage-backed
securities guaranteed as to the timely payment of monthly principal and interest by the Government National Mortgage
Association and backed by pools of qualifying FHA insured, VA guaranteed USDA/RD guaranteed mortgage loans,
(ii) mortgage-backed securities guaranteed as to timely payment of monthly principal and interest by the Federal
National Mortgage Association and backed by pools of qualifying conventional mortgage loans, and(iii)single pool,
guaranteed mortgage pass-through mortgage-backed security, bearing interest at the Pass-Through Rate, issued and
guaranteed as to timely payment of principal and interest by FHLMC and backed by conventional mortgage loans in
the related pool. The mortgage loans will be made by certain mortgage lending institutions to qualified persons or
families of low or moderate income to finance the purchase of single family residences in the State of Texas (the
"Program");
WHEREAS,on Wednesday, October 28, 1998, the Corporation held public hearings in connection with the
issuance of the Bonds after due notice thereof was published in The Chronicle,a newspaper of general circulation within
the jurisdictions of each of the Local Governmental Units which comprise the Corporation and which meets the
requirements of§2051.044,Government Code, at which no objections were raised by anyone present at the hearing;
WHEREAS,the provisions of Section 147(f)of the Code require that the issuance of certain private activity
bonds, such as the Bonds, must be approved by the "applicable elected representative" of the "governmental unit'
issuing said bonds or on whose behalf said bonds are being issued;
WHEREAS, under Section 147(f)(2)(E)(i)(II) of the Code, the applicable elected representative of the
governmental unit is, in this case, the Mayor of the city of Baytown (the"City"); and
WHEREAS,as the highest elected official of the City,the undersigned desires to approve the issuance of the
Bonds in one or more series for the purpose of financing the Program,on behalf of the Corporation, all in accordance
with Section 147(0 of the Code.
NOW, THEREFORE, I, Pete C. Alfaro Mayor, do hereby certify that I am the highest elected
official of the City and I do hereby approve the issuance of the bonds for the purpose of financing the cost of the
Program on behalf of the Corporation, all in accordance with Section 147(f) of the Code. I do hereby authorize the
members of the Corporation and its officers to cause this Certificate to be filed of record in the Transcript of Proceedinbs
fur the Bonds and to file a copy thereof with any state or federal agency,board or commission as may be required by
any applicable state or federal laws, rules or regulations.
WITNESS my signature this day of November, 1998.
Pete C.Alfaro,Mayor
City of Baytown, Texas
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October 19.1998
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