CC Resolution No. 1464 2747
RESOLUTION NO. 1464
A 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.
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.
2748
INTRODUCED, READ and PASSED, by the affirmative vote of the City Council of the
City of Baytown this the 301h day of November, 2000.
PE E C. ALFARO, May
ATTEST:
s e
GAR . S ITH, City Clerk
APPROVED AS TO FORM:
4"
-G ACIO RAMIREZ, SI U. ity,Attorney
c:klh256\Council\Resolutions\STHFCSingleFamilyMortgageRevenueBonds 113000
2
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 Bonds, Series 2000C in the aggregate
principal amount not to exceed $30,000,000, in conjunction with its Tax Exempt Second Mortgage
Bonds, Series 2000D in the aggregate principal amount not to exceed $1,500,000 (collectively,
hereinafter, 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 or until such time
as a replacement member has been appointed by the Local Governmental Unit. That individual is a
resident of a Local Governmental Unit which is a member of the Issuer. The minutes of the
governing body of the Local Governmental Unit do not reflect that such individual has been removed
or replaced as a member of the Issuer's board of directors.
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.
G:\SFPGM.00\GEN CERT.WPD
November 13, 2000
8. 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 this Certificate on behalf
of the undersigned Local Governmental Unit and to rely upon such information unless notified
otherwise.
o
o
County Judge
County Attorney
Other
City of Baytown
Signature: �,(,Q, C- GL€i—
Printed Name: Pete C. Alfaro, Mdyor
OFFICE:
Mayor
Mayor Pro Tem
City Secretary
LOCAL GOVERNMENTAL UNIT:
Name of Member of Expiration of
Issuer's Board of Directors: Daniel Sandoval
[DO NOT DATE THIS PAGE]
o
Director's Term: 01/31/01
Date of this
Certificate:
G:\SFPGM.00\GEN_CERT. W PD
November 13, 2000
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 with 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 Bonds, Series 2000C in the aggregate
principal amount not to exceed $30,000,000, in conjunction with The Southeast Texas Housing
Finance Corporation Tax Exempt Second Mortgage Bonds, Series 2000D in the aggregate principal
amount not to exceed $1,500,000 (collectively, hereinafter, the `Bonds"). The Corporation
authorized the issuance of the Bonds to provide funds to qualified persons of families of low or
moderate income to finance the initial purchase and refinancing of single family residences in the
State of Texas (the "Program").
WHEREAS, on Monday, December 4, 2000, the Corporation held a public hearing 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 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 Project, on behalf
of the Corporation, all in accordance with Section 147(f) 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 acquisition and rehabilitation of the Project to further the public purpose of the
Corporation by providing safe, decent and sanitary housing for persons of low -to -moderate income
level, 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
Proceedings for 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 as of the 6th day of December, 2000.
/J-.cc. G
Pete C. Alfaro, Ma or
City of Baytown, Texas