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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. ::r***.►■�*****r•rrr*►�*•*rr•r►*a�>k**:s**■rss*>k***srr�r*►:«.>k>k>k****rr*r•rs*rs*>k*•*•.. 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. 2253735.01.01.doc 1659713/BMC 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. [Remainder of Page Intentionally Left Blank] 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; 2253848 01 01.doc 1659713/BMC 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 DO NOT DATE THIS PAGE 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.