Loading...
CC Resolution No. 1890 85 RESOLUTION NO. 1890 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 (WYNDHAM PARK APARTMENTS) SERIES 2007 AND THE CHIEF EXECUTIVE OFFICER'S APPROVAL TO AUTHORIZE SUCH BONDS; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. WHEREAS, the Southeast Texas Housing Finance Corporation (the "Corporation") proposes to issue bonds in an aggregate principal amount not to exceed $14,500,000 for its Multifamily Housing Revenue Bond Program to provide funds to loan to HFI Wyndham Park Apartments, L.P., related to the acquisition and construction of a 184-unit multifamily housing community for seniors in the City of Baytown; 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 and approve the issuance of the bonds; 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 (Wyndham Park Apartments) Series 2007 to provide funds to loan to HFI Wyndham Park Apartments, L.P., related to the acquisition and construction of a 184-unit multifamily housing community for seniors in the City of Baytown. Said certificate is attached hereto as Exhibit "A" and incorporated herein for all intents and purposes. 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, hereby authorizes and directs the Mayor to execute the Chief Executive Officer's Approval to authorize the bond program referenced in Section I hereof. Said certificate is attached hereto as Exhibit"B" and incorporated herein for all intents and purposes. 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 he City Council of the City of tower is the 25"day of October, 2007. r ;1 ST HE DONCARLOS, Mayor f.ea A GOODY, Ci Cle-k 1`` APPROVED AS TO F jRM: ACIO RAMIREZ, SR., C' y ttorney cohsr lI edulrKoreiiTilesA ry Council'Res'olut 007AOctober25,SE'I HMulufamilyllousingRevenueBonds.doe GENERAL AND No LITIGATION CERTIFICATE OF TILE 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 (Wyndham Park Apartments) Series 2007" issued in or more series in an aggregate principal amount not to exceed $14,500,000 (the "Bonds"). The Wyndham Park Apartments will be located in Baytown. Harris County. Texas. 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 [rue and correct signature of such person. 2302228 M 02 t2rdoc 1669290BMC EXHIBIT A S. 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] EXECUTED AND DELIVERED AS OF THE DATE SET FORTH BELOW. CITY OF BA WN, TEXAS By DO NOT DATE THIS PAGE Date of this Certificate: Mayor 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 TIIEREOF 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 (Wyndham Park Apartments) in one or more series in an aggregate amount not to exceed $14,500,000 in order to provide funds to loan to HFI Wyndham Park Apartments. L.P., or an affiliate thereof, for the payment of costs related to the acquisition and construction of a 184-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. September 25. 2007. in the Pecan Room, Baytown Community Center. 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, 1 am the chief elected executive officer of the City and. as such, 1 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: 2302231 01 02(2).doc 1669290/13MC EMU n 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 AS • ' HE DATE SET FORTH BELOW. May.r Stephen H. DonCarlos Ci • of Baytown, Texas DO NOT DATE THIS PAGE Date of this Certificate: EXHIBIT A THE SOUTHEAST TEXAS hIOUSING 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 September 25, 2007. in the Pecan Room, 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, Baytown 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 (Wyndham Park Apartments) to be issued in one or more series (the "Bonds") in an aggregate face amount of not more than $14.500,000. The Bonds will be issued for the benefit of HFI Wyndham Park Apartments. L.P., or an affiliate thereof (the Borrower '). in connection with the acquisition and construction of a 252-unit rental housing community to be known as Wyndham Park Apartments located at the NW Corner of Emmett Hutto Blvd. & Rollingbrook Drive. Baytown. Texas 77521 (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. Southeast Texas Housing Finance Corporation Multifamily Tax-Exempt Revenue Bonds Wyndham Park Apartments Minutes of Public Nearing Tuesday, September 25, 2007 12:15 p.m. The public hearing was called to order on Tuesday, September 25, 2007 at 12:15 p.m. in the Pecan Room, 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, September 9, 2007 in The Houston Chronicle and 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 opened the Public Hearing at 12:15 p.m. and noted for the record that he received two phone calls requesting information on the proposed development. He also noted that this proposed development would be a 184-unit complex for Seniors. There were eight (8) people and a representative from the Developer who attended the Public Hearing. Information requested from the audience included the age requirements for the residents, how long the restrictions are placed on the development and owner, making certain of buffer zones around the property and the type of security that was going to be present. The representative from the Developer provided plans for the development for all to review. Mr. Williams concluded the Public Hearing at 1:17 p.M. CERTIFIED TO BE A TRUE AND CORRECT COPY By: Ron Williams, Executive Director Date: September 25, 2007 EXHIBIT B