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CC Resolution No. 1894 91 RESOLUTION NO. 1894 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 SINGLE FAMILY MORTGAGE REVENUE BONDS (GUARANTEED MORTGAGE-BACKED SECURITY PROGRAM) SERIES 2007B 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 $35,000,000 for its Guaranteed Mortgage-Backed Security 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 L 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 Bonds (Guaranteed Mortgage-Backed Security Program) Series 2007B. 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 1 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 Coucil of the City of Baytown, Texas. >tl. . ODUCED, READ and PASSED, by the affirmative vote of t City Council of the City of Baytowfl-.lhls e 251h day of October, 2007. eY L Tt -.✓ y'f Y STE EN H. DONCARLOS, Mayor AT' > :: y LORRI COODY, ity Clerk NPPROVED AS 'TOFORM: ACIO RAMIREZ, SR., C ty ttomey \rcohsr-I\legal\Karen'Flles\City Council\Resolutions\2007\October 25\SF,THSiagleFamilyMorlgageRevenueaonds.doc 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 Single Family Mortgage Revenue Bonds (Guaranteed Mortgage -Backed Securities Program) Series 2007B" issued in or more series in an aggregate principal amount not to exceed $35,000,000 (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. 2318958.01.01.doc 1665868/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] EXECUTED AND DELIVERED AS OF THE DATE SET FORTH BELOW CITY OF BA . OWN, TEXAS By DO NOT DATE THIS PAGE Date of this Certificate: ayor Stephen H. DonCsrlos CHIEF EXECUTIVE OFFICER'S APPROVAL OF THE ISSUANCE OF BONDS AND THE PLAN OF FINANCING THEREOF WHEREAS, the City of Baytown, Texas (the "City"), has approved and authorized The Southeast Texas Housing Finance Corporation (the "Corporation"), a joint 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 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 (the "Mortgage Loans"); WHEREAS, the Corporation proposes to issue its Single Family Mortgage Revenue Bonds (Guaranteed Mortgage -Backed Securities Program) Series 2007B, in an aggregate principal amount not to exceed $35,000,000 (the "Bonds") and the proceeds of the Bonds will be used to provide funds for Mortgage Loans. 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 10:00 a.m. on Tuesday, August 7, 2007, at the Corporation's offices, 11111 South Sam Houston Parkway East, Houston, Texas, following publication of notice thereof in one or more newspapers of general circulation in the City at least 14 days prior to the date of the public hearing; 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. 2318579.01.01.doc 1665868/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 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 0 1 DATE SET FORTH BELOW Mayo Bayt wn, Texas . DonCarlos CERTIFICATION I, Lorri Coody, the duly appointed and acting Assistant City Clerk of the City of Baytown, Harris County, Texas, do hereby certify and attest that as part of my duties, I do supervise and act as lawful custodian of the records of the City of Baytown; that the attached document is a true and correct copy of Resolution No. 1894. RESOLUTION NO. 1894 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 SINGLE FAMILY MORTGAGE REVENUE BONDS (GUARANTEED MORTGAGE - BACKED SECURITY PROGRAM) SERIES 2007B AND THE CHIEF EXECUTIVE OFFICER'S APPROVAL TO AUTHORIZE SUCH BONDS; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF. Adopted by the City Council of Baytown, Texas at its meeting held on October 25, 2007. WITNESS MY HAND AND SEAL of t.n the 26 day of October, 2007. Lorri Coo. ','� ity Clerk