CC Resolution No. 1654 45
RESOLUTION NO. 1654
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 SOUTHEAST TEXAS HOUSING FINANCE
CORPORATION'S ISSUANCE OF SINGLE FAMILY MORTGAGE
REVENUE BONDS, SERIES 2004B, SINGLE FAMILY MORTGAGE
REVENUE BONDS, SERIES 2004C, AND TAXABLE RESIDUAL REVENUE
CAPITAL APPRECIATION BONDS, SERIES 2004D, AND TO EXECUTE
THE CERTIFICATES OF HIGHEST RANKING OFFICIAL RELATING TO
SOUTHEAST TEXAS HOUSING FINANCE CORPORATION'S ISSUANCE
OF SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2004B,
SINGLE FAMILY MORTGAGE REVENUE BONDS, SERIES 2004C; AND
PROVIDING FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, the Southeast Texas Housing Finance Corporation (the "Corporation") is
structuring a forward delivery program, which necessitates issuing Single Family Mortgage
Revenue Bonds, Series 2004B, in an amount of$25,000,000 and then refunding those bonds into
the Single Family Mortgage Revenue Bonds, Series 2004C, in the amount of$35,000,000; and
WHEREAS, the Corporation proposes to issue up to $1,500,000 in Taxable Residual
Revenue Capital Appreciation Bonds, Series 2004D in order to make down payment assistance
available to the homebuyers throughout the Corporation's territory; 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 Certificates of Local Governmental Unit relating to
Southeast Texas Housing Finance Corporation's issuance of Single Family Mortgage Revenue
Bonds, Series 2004B, Single Family Mortgage Revenue Bonds, Series 2004C, and Taxable
Residual Revenue Capital Appreciation Bonds, Series 2004D. The Mayor is further directed to
execute the certificate of highest elected official relating to Southeast Texas Housing Finance
Corporation's issuance of Single Family Mortgage Revenue Bonds, Series 2004B, Single Family
Mortgage Revenue Bonds, Series 2004C; 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 certificates.
46
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 27`h day of May, 2004.
CALVIN MUNDINGER, Mayor
ATTEST:
G�fRY W. SMITH, City Clerk
APPROVED AS TO FORM:
40��' e��
r ACIO RAMIREZ, SR., V y Attorney
\\Bdc2\litigation\Karen\Files\City Council\Resolutions\STHFCSingleFamilyMongateRevenueBonds2004a-c.doe
2