CC Resolution No. 1837 13
RESOLUTION NO. 1837
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS,
AUTHORIZING AND DIRECTING THE MAYOR TO EXECUTE GENERAL AND
NO LITIGATION CERTIFICATE OF LOCAL GOVERNMENTAL UNIT AND THE
CHIEF EXECUTIVE OFFICER'S APPROVAL REGARDING SOUTHEAST TEXAS
HOUSING FINANCE CORPORATION'S ISSUANCE OF SINGLE FAMILY
MORTGAGE REVENUE REFUNDING NOTES, SERIES 2007A; AND PROVIDING
FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, the Southeast Texas Housing Finance Corporation (the "Corporation") proposes to
issue notes in an aggregate principal amount not to exceed $50,000,000 for its Single Family Revenue
Note Program (the "Program"); 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
notes, 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 I: That the City Council of the City of Baytown, Texas, hereby authorizes and
directs the Mayor to execute the General and No Litigation Certificate of Local Governmental Unit
relating to the Southeast Texas Housing Finance Corporation's issuance of Single Family Mortgage
Revenue Refunding Notes, Series 2007A. Said certificate is attached hereto as Exhibit "A" and
incorporated herein for all intents and purposes.
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 Texas Housing Finance
Corporation's issuance of Single Family Mortgage Revenue Refunding Notes, Series 2007A. Said
certificate is attached hereto as Exhibit`B" and incorporated herein for all intents and purposes.
Section 3: This resolution shall take effect immediately fi and after its passage by the
City Council of the City of Baytown,Texas.
i
INTRODUCED, READ and PASSED, by the affirmative v4of the City Council of the City of
Baytown this the 22nd day of February, 2007. �
ST PHE DONCARLOS, Mayor
ATTEST:
LORRI GOOD City Clerk
APPROVED AS TO FORM:
4ea���
I ACID RAMIREZ, SR., rt Attorney
RaKarenAPilestCity CouncilAResolutions\2007AFebruary 22\S'1'HFCSingleFamilyMongateRevenueRefundingNolesSenes2007A.doe
GENERAL AND NO LITIGATION CERTIFICATE OF THE CITY OF BAYTOWN
I hereby certify that I am a duly elected or appointed and acting officer of the City
of Baytown, Texas (the "Local Governmental Unit"). I do hereby further certify that:
1. This Certificate is for the benefit of the Attorney General of the State of
Texas (the "Attorney General") and all persons interested in the validity of the
proceedings of The Southeast Texas Housing Finance Corporation (the "Corporation")
related to the issuance by the Corporation of its notes entitled "The Southeast Texas
Housing Finance Corporation Single Family Mortgage Revenue Refunding Notes
Series 2007A" (the "Notes") issued in an aggregate principal amount not to exceed
$50,000,000.
2. The City Council (the "Governing Body") of the Local Governmental Unit
authorized the creation of the Corporation as a joint housing finance corporation pursuant
to the Texas Housing Finance Corporations Act, Texas Local Government Code, Chapter
394, as amended (the "Act"), and approved the Articles of Incorporation and Bylaws of
the Corporation (and all amendments thereto).
3. The Local Governmental Unit has appointed Daniel Sandoval to act as a
member of the board of directors of the Corporation until such time as his term expires or
a replacement representative has been appointed by the Local Governmental Unit.
Daniel Sandoval is a resident of the Local Governmental Unit which is a member of the
Corporation. 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
Corporation's board of directors.
4. The Governing Body has taken no action pursuant to the Act, including
Section 394.016(c) thereof, or otherwise, to limit the effectiveness of the resolution
authorizing the issuance of the Notes or in any way affecting the proceedings relating to
the issuance of the Notes.
5. The Governing Body has not created any other Corporation with the power
to make home mortgages or loans to lending institutions, the proceeds of which are to be
used to make home mortgage or loans on residential developments.
6. No litigation is pending, or to our knowledge threatened, in any court in any
way affecting the existence of the Corporation or seeking to restrain or to enjoin the
issuance, sale or delivery of the Notes, or in any way contesting or affecting the validity
or enforceability of the Notes or the financing documents to which the Corporation is a
party, or contesting in any way the completeness or accuracy of the statements made in
the offering document relating to the Notes, or contesting the powers of the Corporation
or its authority with respect to the financing documents to which it is party.
7. Each of the undersigned officers of the Local Governmental Unit hereby
certifies that he or she is the duly elected or appointed incumbent of the office appearing
EXW A
2197403 0101
below his or her signature and that the signature of the other officer appearing below is
the true and correct signature of such person.
8. The Attorney General of the State of Texas is hereby authorized and directed
to date this certificate concurrently with the date of his approval of the Notes and this
Certificate shall be deemed for all purposes to be accurate and correct on and as of that
date and on and as of the date of the initial issuance and delivery of the Notes to the
initial purchasers thereof.
2197403 01 01
EXECUTED AND DELIVERED AS OF THE DATE SET FORTH BELOW.
CITY OF BAY T N,TEXAS
By
M or Stephen H. DonCarlos
ATTEST
By
Name
Title
DO NOT DATE THIS PAGE
Date of this
Certificate:
2197403 0101
CHIEF EXECUTIVE OFFICER'S APPROVAL OF THE
ISSUANCE OF NOTES BY THE SOUTHEAST TEXAS HOUSING FINANCE
CORPORATION AND THE PLAN OF FINANCING THEREOF
WHEREAS, the City of Baytown, Texas (the "Local Governmental Unit") has approved
and authorized the creation of The Southeast Texas Housing Finance Corporation (the
"Corporation") a housing finance corporation, pursuant to the Texas Housing Finance
Corporations Act, Chapter 394, Local Government Code, as amended (the "Act"), to act on
behalf of the City of Baytown,Texas, in carrying out the public purposes of the Act;
WHEREAS, the Corporation is authorized by the Act to issue its notes on behalf of the
Local Governmental Unit for the purpose of obtaining funds to finance home mortgage loans to
persons of low and moderate income for homes located within the jurisdiction of the Corporation
(excluding Galveston County, other than the cities specifically within the Corporation's
jurisdiction) (the "Mortgage Loans');
WHEREAS, the Corporation proposes to issue its Single Family Mortgage Revenue
Refunding Notes Series 2007A (the "Notes'), in an aggregate principal amount not to exceed
$50,000,000 and the proceeds of the Notes will be used to refund the maturing principal or
redemption price, as the case may be, of a portion of one or more of the Corporation's
Series 1987A Bonds; Series 1988A Bonds; Series 1998A Bonds; Series 2001 Notes; Series
2001 B Bonds; Series 2002A Bonds and Series 2002B Bonds; and any future series of qualified
mortgage revenue bands issued by the Corporation;
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the
"Code'), requires the chief elected executive officer of the Local Governmental Unit, as
"applicable elected representative" thereof, to approve the issuance of the Notes and the plan of
financing thereof after a public hearing following reasonable public notice;
WHEREAS, an authorized representative of the Corporation conducted a public hearing at
10:00 am. on February 5, 2007, at the offices of the Corporation located at I I I I I S. Sam
Houston Parkway East, Houston, Texas 77089, following publication of notice thereof in the
Houston Chronicle and the Beaumont Enterprise, newspapers of general circulation in the Local
Governmental Unit, at least 14 days prior to the date of the public hearing.
WHEREAS, I am the chief elected executive officer of the Local Governmental Unit and,
as such, I am authorized to approve the issuance of the Notes and the plan of financing thereof;
and
WHEREAS, I am familiar with the facts and circumstances regarding the issuance of the
Notes and the plan of financing thereof,
2181669 02 01.dw
1649334/HRH
EWR '�
I NOW,THEREFORE,HEREBY APPROVE the issuance of the Notes in the amount and for the
purposes referred to or described in the recitals hereof and the plan of financing with respect
thereto, as required by and for purposes of Section 147(o of the Code. This approval shall take
effect immediately.
APPROVED AS Of THE DATE SET FORTH BELOW
Mayo•_SSeph n H. DonCarlos
City of Baytown,Texas