CC Resolution No. 1764 5
RESOLUTION NO. 1764
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 AND
THE CERTIFICATES OF HIGHEST RANKING OFFICIAL RELATING TO
SOUTHEAST TEXAS HOUSING FINANCE CORPORATION'S ISSUANCE
OF SINGLE FAMILY MORTGAGE REVENUE AND REFUNDING BONDS,
SERIES 2006A; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, the Southeast Texas Housing Finance Corporation (the "Corporation')
proposes to issue up to $30,000,000 in Single Family Mortgage Revenue Bonds and Refunding
Bonds, Series 2006A in order to offer low fixed-rate mortgages with the option of down payment
and closing cost assistance to first-time low and moderate income home buyers 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
and Refunding Bonds, Series 2006A.
Section 2: That the City Council of the City of Baytown, Texas, further authorizes
and directs the Mayor to execute the certificate of highest elected official relating to Southeast
Texas Housing Finance Corporation's issuance of Single Family Mortgage Revenue and
Refunding Bonds, Series 2006A.
Section 3: 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 12`h day of January, 2006.
CALVIN MUNDINGER, �o�r
6
ATT
L DY, ity Clerk
APPROVED AS TO FORM:
ACIO RAMIREZ, SR., Ci Attorney
R:\Karen\Piles\City Council\Resolutions\2006 January 12\STHFCSingleFamilyMortgateRevenue&RefundingBonds2006A.doc
2