CC Resolution No. 1870 57
RESOLUTION NO. 1870
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 RELATED
TO SOUTHEAST TEXAS HOUSING FINANCE CORPORATION'S ISSUANCE OF
MULTIFAMILY HOUSING REVENUE BONDS (THE VILLAS AT SHAVER
APARTMENTS) SERIES 2007; AND PROVIDING FOR THE EFFECTIVE DATE
THEREOF.
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WHEREAS, the Southeast Texas Housing Finance Corporation (the "Corporation") proposes to
issue bonds in an aggregate principal amount not to exceed $15,000,000 for its Multifamily 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
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 and No Litigation Certificate of Local Governmental Unit
relating to the Southeast Texas Housing Finance Corporation's issuance of Multifamily Housing
Revenue Bonds (the Villas at Shaver Apartments) Series 2007. Said certificate is attached hereto as
Exhibit"A"and incorporated herein for all intents and purposes.
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 to of the City Council of the City of
Baytown this the 12th day of July, 2007.
,I
tLOS EPH H. DONCARLOS, Mayor
A
it, Clerk
APPROVED AS TO FORM:
em
ACIO RAMIREZ, SR.(gy Attorney
RAKaren\Files\City Councilaesolutions\2007Uuly 12\SETHMultifamilyHousingRevenueBonds-Villas@ShaverApts.doe
GENERAL AND No LITIGATION CERTIFICATE OF THE CITY OF BAYTOWN
We hereby certify that we are duly elected or appointed and acting officers of the City of
Baytown, Texas (the "Local Governmental Unit"). We 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 bonds entitled "The Southeast Texas Housing Finance Corporation
Multifamily Housing Revenue Bonds (Forest View Apartments) Series 2007" issued in or more
series in an aggregate principal amount not to exceed $6,000,000 (the "Bonds").
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 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. That individual is a resident of a city or county which
is a member of the Corporation.
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 Bonds or in any way affecting the proceedings relating to the issuance of the
Bonds.
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 Bonds, or in any way contesting or affecting the validity or enforceability of the
Bonds 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
Bonds, 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 below his or her
signature and that the signature of the other officer appearing below is the true and correct
signature of such person.
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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 Bonds 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 Bonds to the initial purchasers thereof.
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1.
N
EXECUTED AND DELIVERED AS OF THE DATE SET FORTH BELOW.
DO NOT DATE THIS PAGE
Date of this
Certificate:
CITY OF BAYTO , TEXAS
By
ayor Stephen H. DonCarlos
HIGHEST ELECTED OFFICIAL'S APPROVAL OF THE
ISSUANCE OF BONDS BY THE SOUTHEAST TEXAS HOUSING FINANCE
CORPORATION AND THE PLAN OF FINANCING THEREOF
WHEREAS, the City of Baytown, Texas (the "City') has approved and authorized the
creation of The Southeast Texas Housing Finance Corporation (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"), to act on behalf of the City, in
carrying out the public purposes of the Act;
WHEREAS, the Corporation is authorized by the Act to issue its bonds on behalf of the
City 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 and to make loans
to borrowers for use in financing residential developments located within the jurisdiction of the
Corporation intended to be occupied by persons of low and moderate income;
WHEREAS, the Corporation proposes to issue Multifamily Housing Revenue Bonds
(Forest View Apartments) in one or more series in an aggregate amount not to exceed $6,000,000
in order to provide funds to loan to Forest View Acquisitions, LLC, or an affiliate thereof, for the
payment of costs related to the acquisition and rehabilitation of a 158-unit multifamily housing
community located in the City of Baytown, Texas;
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986, as amended (the
"Code"), requires the chief elected executive officer of the City, as "applicable elected
representative" thereof, to approve the issuance of the Bonds 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
12:15 p.m. on Tuesday, June 26, 2007, in the Auditorium, Baytown Community Center, 2407
Market Street, Baytown, Texas, following publication of notice thereof in the "Houston
Chronicle" and the "Baytown Sun," newspapers of general circulation in the City, at least 14
days prior to the date of the public hearings. (A copy of such notice is attached hereto as Exhibit
A and the minutes of the public hearing are attached hereto as Exhibit B);
WHEREAS, I am the chief elected executive officer of the City and, as such, I am
authorized to approve the issuance of the Bonds and the plan of financing thereof; and
WHEREAS, I am familiar with the facts and circumstances regarding the issuance of the
Bonds and the plan of financing thereof;
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I Now, THEREFORE, HEREBY APPROVE the issuance of the Bonds in the amount and for
the purposes referred to or described in the recitals hereof and Exhibit A hereto and the plan of
financing with respect thereto, as required by and for purposes of Section 147(f) of the Code.
This approval shall take effect immediately.
APPROVED ASI'iF THE DATE SET FORTH BELOW.
May Step en H. DonCarlos,
Ci of Baytown, Texas
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Date of this
Certificate:
Southeast Texas Housing Finance Corporation
Multifamily Tax -Exempt Revenue Bonds
Forest View Apartments
Minutes of Public Hearing
Tuesday, June 26, 2007
12:15 p.m.
The public hearing was called to order on Tuesday, June 26, 2007 12:15 p.m. at
the Auditorium, Baytown Community Center, 2407 Market Street in Baytown, Texas
77520. Ron Williams, Executive Director, presided.
Mr. Williams announced the purpose of the public hearing to be conducted. Mr.
Williams noted that the Notice of Public Hearing was published on Sunday, June 10,
2007 in The Houston Chronicle and Tuesday, June 12, 2007 in The Baytown Sun which
are newspapers of general circulation covering the jurisdiction of Southeast Texas
Housing Finance Corporation.
Mr. Williams announced that an Affidavits of Publication of the Notice of the
Public Hearing, executed by a representative of The Houston Chronicle and The
Baytown Sun evidencing that the Notice of Public Hearing was so published, had been
received.
Mr. Williams requested that a copy of the Affidavits of Publication be placed in
the program file. Mr. Williams also noted that the Notice of Public Hearing solicited
written comments, and announced that no written comments had been received.
Mr. Williams noted that the Report of the Public Hearing would state that no one
attended or submitted any written comments or questions.
CERTIFIED TO BE A TRUE AND CORRECT COPY
By:
Ron Williams,
Executive Director
Date: June 26, 2007
EXHIBIT A
THE SOUTHEAST TEXAS HOUSING FINANCE CORPORATION
NOTICE OF PUBLIC HEARING
In accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended,
notice is hereby given that The Southeast Texas Housing Finance Corporation (the
"Corporation ") will hold a public hearing at 12:15 p.m. on June 26, 2007, in the Auditorium,
Baytown Community Center, 2407 Market Street, Baytown, Texas, 77520. The Corporation's
designated hearing officer will conduct the hearing on behalf of the Texas Counties of Austin,
Brazoria, Chambers, Galveston, Liberty, Matagorda, Walker, Waller and Wharton and the Texas
Cities of Baytown, Deer Park, Dickinson, La Marque, La Porte, League City, Pasadena, Santa Fe,
Shoreacres, Texas City and Tomball (the "Sponsoring Political Subdivisions").
The purpose of the hearing is to provide residents of the Sponsoring Political
Subdivisions an opportunity to comment on the proposed issuance by the Corporation of its
Multifamily Housing Revenue Bonds (Forest View Apartments) to be issued in one or more
series (the "Bonds ") in an aggregate face amount of not more than $6,000,000. The Bonds will
be issued for the benefit of Forest View Acquisitions, LLC, or an affiliate thereof (the
"Borrower"), in connection with the acquisition and rehabilitation of a 158-unit housing
community to be known as Forest View Apartments located at 301 Tri City Beach Road,
Baytown, Texas, 77520 (the "Property"). The Borrower will own the Property.
The Bonds will be limited obligations of the Corporation, payable solely from the
revenues, receipts and resources of the Corporation pledged to their payment. The Bonds will
not constitute an indebtedness or obligation of any of the Sponsoring Political Subdivisions (or
any other city, county or other municipal or political corporation or subdivision of the State of
Texas) or of the State of Texas, or a loan of credit of any of them, within the meaning of any
constitutional or statutory provision.
All interested persons are invited to attend the hearing and present written or oral
comments on the proposed issuance of the Bonds. Questions or written comments prior to the
date of the hearing may be directed to The Southeast Texas Housing Finance Corporation, 11111
South Sam Houston Parkway East, Houston, Texas 77089, Attention: Ron Williams.