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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