CC Resolution No. 1477 2769
RESOLUTION NO. 1477
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 REFUNDING NOTES,
SERIES 2001, 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 Single Family Mortgage Revenue Refunding Notes, Series 2001, in an amount not to exceed
$50,000,000 in order to provide funds to refund certain outstanding obligations of STHFC thereby preserving
the availability of funds to assist in financing the origination of certain mortgage loans for the purchase of
single family residences by persons and families of low and moderate income throughout STHFC's territory;
and
WHEREAS, the issuance of the above-referenced notes 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 Refunding Notes, Series 2001, 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 8"'day of March, 2001.
PETE C. ALFARO, Mayor
ATTEST:
GAR V W. S ITH, City Clerk
APPROVED AS TO FORM:
ciG ACID RAMIREZ, S ., C' Attorney
c kl h264\Cuunci I\Resolutions\STHFCS ingleFam i IyMongageRefmidingNotes
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 Notes, Series 2001 in an
amount not to exceed $50,000,000 (the "Bonds"), in order to provide funds to refund certain
outstanding obligations of the Issuer, thereby preserving the availability of funds to assist in financing
the origination of certain mortgage loans for the purchase of single family residences by persons and
families of low and moderate income throughout the boundaries of the Issuer. 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 of the Local Governmental Unit do not reflect that such individual has been removed
as a member of the Issuer's board of directors.
G:1CNP.PGM\2001\GEN_CRT. WPD
February 20, 2001
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.
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.
County Judge
County Attorney
Other
Signature: C aJ-7—tx,Law
Printed Name: Pete C. Alfaro, Mayor
OFFICE:
Mayor
Mayor Pro Tem
City Secretary
LOCAL GOVERNMENTAL UNIT:
City of Baytown
Name of Member of Expiration of
Issuer's Board of Directors: Daniel Sandoval
[DO NOT DATE THIS PAGE]
G:\CNP.PGM\2001\GEN_CRT. WPD
February 20, 2001
Director's Term: 01 /31 /01
Date of this
Certificate:
•
CERTIFICATE OF HIGHEST ELECTED OFFICIAL
EVIDENCING PUBLIC APPROVAL PURSUANT TO
§ 1470) 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 Refunding Notes, Series 2001 in the aggregate
principal amount not to exceed $50,000,000 (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 purchase of single family residences in the State of Texas (the "Program").
WHEREAS, on Wednesday, February 28, 2001, 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 Program, 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
providing funds to refund certain outstanding obligations of the Corporation, thereby preserving the
availability of funds to assist in financing the origination of certain mortgage loans for the purchase
of single family residences by persons and families of low and moderate income, 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 1st day of March, 2001.
.64e- C. k9It't4'
Pete C. Alfaro, Mayor
City of Baytown, Texas
SETS
SOUTHEAST TEXAS HOUSING FINANCE CORPORATION
February 20, 2001
via UPS
TO: MAYORS or COUNTY JUDGES of
SPONSORING POLITICAL SUBDIVISIONS of
THE SOUTHEAST TEXAS HOUSING FINANCE CORPORATION
RE: $50,000,000 SINGLE FAMILY MORTGAGE REVENUE NOTE PROGRAM
We are pleased to announce that The Southeast Texas Housing Finance
Corporation (the "Corporation") in its continuing efforts to provide safe, decent, sanitary
and affordable housing to the residents of its Sponsoring Political Subdivisions has
proposed another single family financing which will enable the Corporation to refund
certain outstanding obligations of the Corporation, thereby preserving the availability
of funds to assist in financing the origination of certain mortgage loans for the purchase
of single family residences by persons of low and moderate income throughout the
boundaries of Corporation (the "Program").
As with other financings of the Corporation with which you are familiar, in order to
gain the approval of the State Attorney General's Office for issuance of the Mortgage
Revenue Refunding, we ask that you confirm certain information regarding the
Corporation, such as the name of the person appointed by your jurisdiction to serve on the
Corporation's Board of Directors and that your jurisdiction has approved the Corporation's
articles of incorporation. An additional requirement of the State Attorney General's Office
and the Internal Revenue Regulations governing the issuance of private activity bonds is
that the Issuer gain public approval.
Pursuant to Sec. 147(f) of the Internal Revenue Code of 1986, as amended, we
have published a Notice of Public Hearing with respect to the Mortgage Revenue Note
Program in The Houston Chronicle (a newspaper which is widely circulated within the
boundaries of all of the Sponsoring Political Subdivisions of the Corporation) on
Wednesday, February 14, 2001. The hearing is scheduled for 10:00 a.m., on
Wednesday, February 28, 2001 at the offices of the Corporation. In the interest of
time, we have prepared the necessary documents for your completion and execution to
satisfy the requirements of the Attorney General with respect to the public approval of the
Corporation's action. We ask that you include this item on your next agenda for discussion
and approval, pending the outcome of the public hearing. Should there be no objections
raised by the public of the Corporation's issuance of single family mortgages for persons
12621 Featherwood Drive, Suite 280 • Houston, Texas 77034
phone (281) 484-HOME (4663) • fax (281) 484-1971 • www.sethfc.com
February 20, 2001
Page 2
of low -to -moderate income, we ask that you execute and return (via the enclosed UPS
materials) the following documentation to the undersigned at your earliest convenience,
but not later than March 5, 2001:
1. General Certificate of Local Governmental Unit, which is required by the
Texas Attorney General for closing all bond transactions. Please sign all
four (4) of these certificates, UNDATED.
2. Certificate of Highest Elected Official. Please sign all four (4) of these
certificates and return them to our offices as well.
Please do not date the General Certificate enclosed herewith, it will be dated by an
authorized representative of the Attorney General upon approval of the issuance of the
Mortgage Revenue Bonds.
Thank you for your attention to this matter and your continued support of SETH's
programs. We are excited about this opportunity to continue to serve each of these
communities. Should you have any questions or need additional information, please do
not hesitate to give me a call at (281) 484-4663.
Very truly yours,
Ron Williams
Deputy Director
Enclosures
SETS