Loading...
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