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
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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.
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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.
[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.
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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 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