HomeMy WebLinkAboutResolution - 374 - Creates Lubbock Housing Finance Corporation - 12/20/1979RESOLUTION #374 - 12/20/79
RESOLUTION APPROVING FORMATION OF
LUBBOCK HOUSING FINANCE CORPORATION
WHEREAS, an application in writing seeking the incorporation of a housing
finance corporation under the provisions of the "Texas Housing Finance Corpora-
tion Act" has been filed with the governing body of the City by at least three
individuals, each of whom is a citizen of the State of Texas, of the age of 18
years or more and residents of the City; NOW THEREFORE
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
Section 1. That, the governing body of the City has found and deter-
mined, and hereby finds and determines, that it is wise, expedient, necessary,
or advisable that the corporation be formed.
Section 2. That, the governing body of the City hereby approves the form
of articles of incorporation proposed to be used in organizing the corporation,
a copy of which is attached hereto as "Exhibit A", and hereby grants authority
for the incorporation of the corporation.
Section 3. That it is hereby officially found and determined: that a
case of emergency or urgent public necessity exists which requires the holding
of the meeting at which this Resolution is adopted, such emergency being that
the adoption of this Resolution is necessary for the incorporation of a housing
finance corporation under the "Texas Housing Finance Corporations Act"; and
that the proceeds from the issuance of such corporation's bonds are needed as
soon as possible and without delay for necessary and urgently needed residential
housing for persons of low and moderate income within the City; that said
meeting was open to the public as required by law; and that public notice of
the time, place, and purpose of said meeting was given as required by Vernon's
Ann.Civ.St. art. 6252-17, as amended.
Section 4. Ordinances and Resolutions in Conflict Repealed
All Ordinances and Resolutions and parts thereof in conflict herewith are
hereby expressly repealed insofar as they conflict herewith.
Section 5. Emergency. That this Resolution shall take effect immediately
from and after its adoption in accordance with the Charter of the City of
Lubbock and it is accordingly so resolved.
(I i `_
Passed this _W day of�.r� 1979.
WEST, MXYOR
ATTESTi ;
Evelyn .uagfga, ,,City -'S r�'ary-Treasurer
APPROVED AS TO,,FORM:
Donald G. Vandiver, As$t. City Attorne
APPLICATION' FOR INCORPORATION
OF LUBBOCK HOUSING FINANCE CORPORATION
t�'e,.. _'ie::under_signed.- —signed.- of the -State of Texas, of the age of 18
Years o�, .;,re and residents of the City of ' iubbock, Texas, hereby file with
the governing body of the City an application in writing seeking the incor-
poration of a housing finance corporation under the provisions of the "Texas
Housing Finance Corporations Act". The form of articles of incorporation
proposed to be used in organizing the corporation are attached hereto as
"Exhibit A".
SIGNED this the 20th day of December , 1919.
Applicant
App icant '
App-Pbcant
y• ,, RESOLUTION #374 - 12/20/79
ARTICLES OF INCORPORATION
OF
LUBBOCK HOUSING FINANCE CORPORATION
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
WE THE UNDERSIGNED, natural persons of the age of eighteen (18) years or
more, citizens of the State of Texas and residents of the City of Lubbock,
Texas (the "City"), acting as incorporators of a public instrumentality and
non-profit corporation (the "Corporation") under the Texas Housing Finance
Corporations Act, having been granted authority by the governing body of the
City as evidenced by the resolution attached hereto as Exhibit "A", do hereby
adopt the following Articles of Incorporation for the Corporation:
ARTICLE ONE
The name of the Corporation is Lubbock Housing Finance Corporation.
ARTICLE TWO
The Corporation is a public instrumentality and non-profit corporation.
ARTICLE THREE
The period of duration of the Corporation is perpetual.
ARTICLE FOUR
The Corporation is organized exclusively for the purpose of benefiting
and accomplishing public purposes of, and on behalf of, the City pursuant
to the Texas Housing Finance Corporation Act, by financing the cost of resi-
dential ownership and development that will provide decent, safe and sanitary
housing for residents of the City at prices they can afford. It has been
determined and declared by the Legislature of the State of Texas that such
residential ownership and development will (a) provide for and promote the
public health, safety, morals, and welfare; (b) relieve conditions of unem-
ployment and encourage the increase of industry and commercial activity and
economic development so as to reduce the evils attendant upon unemployment;
(c) provide for efficient and well-planned urban growth and development including
the elimination and prevention of potential urban blight and the proper
coordination of industrial facilities with public services, mass transporta-
tion and residential development; (d) assist persons of low and moderate
income in acquiring and owning decent, safe and sanitary housing which they
can afford; and (e) preserve and increase ad valorem tax bases of local governmental
units; and the foregoing have been determined and declared by the Legislature
of the State of Texas to lessen the burden of government and to be public
purposes and functions.
ARTICLE FIVE
The Corporation has no members.
ARTICLE SIX
These articles of incorporation may at any time and from time to time be
amended so as to make any changes therein and add any provisions thereto which
might have been included in the articles of incorporation in the first instance.
Any such amendment shall be effected in either of the following manners: (i)
the members of the board of directors of the Corporation shall file with the
governing body of the City an application in writing seeking permission to
amend the articles of incorporation, specifying in such application the
amendment proposed to be made, such governing body shall consider such appli-
cation and, if it shall by appropriate resolution duly find and determine that
it is wise, expedient, necessary or advisable that the proposed amendment be
made and shall authorize the same to be made, and shall approve the form of
the proposed amendment, then the board of directors of the Corporation may
amend the articles of incorporation by adopting such amendment at a meeting of
the board of directors and delivering articles of amendment to the Secretary
of State, or (ii) the governing body of the City may, at its sole discretion,
and at any time, alter or change the structure, organization, programs, or
activities of the Corporation (including the power to terminate the Corporation),
subject to any limitation on the impairment of contracts entered into by the
Corporation, by adopting an amendment to the articles of incorporation of the
Corporation at a meeting of the governing body of the City and delivering
articles of amendment to the Secretary of State.
ARTICLE SEVEN
The street address of the initial registered office of the Corporation is
916 Texas Ave., P.O. Box 2000 , Lubbock, Texas, .79457 , and the name of
its initial registered agent at such address is Bill McAlister
ARTICLE EIGHT
The affairs of the Corporation shall be managed by a board of directors
which shall be composed in its entirety of persons appointed by the governing
body of the City. The number of directors constituting the initial board of
directors is 6 The names and addresses of the persons who are to serve
as the initial directors, and the dates of expiration of their initial terms
as directors, are as follows:
DATE OF
EXPIRATION
OF
NAMES
ADDRESSES
TERM
M.B. Smith, Jr.
4010 -39th, Lubbock,
Texas
79413 December
31,
1981
Mario G. Perez
1303 -59th, Lubbock,
Texas
79412 December
31,
1983
W.F. Brownlee
4520 -8th, Lubbock,
Texas
79416 December
31,
1981
Leota Alexander
2512 S1ide,Lubbock,
Texas
79407 December
31,
1985
Bill McAlister
3707 68th, Lubbock,
Texas
79413 December
31,
1985
Al Caviel
2401 E. 28th, Lubbock, Texas 79403 December 31, 1983
Each of the initial
directors resides within
the City.
Each director,
including
the initial directors, shall be eligible for reappointment. Directors are
removable by the governing body of the City, for cause or at will, and must
not be appointed for a term in excess of six (6) years. Any vacancy occurring
on the board of directors through death, resignation, or otherwise, shall be
filled by appointment by the governing body of the City to hold office until
the expiration of the term for which the vacating director had been appointed.
ARTICLE NINE
The name and
street address of each incorporator is:
Name
Address
M.B. Smith, Jr.
4010 -39th, Lubbock,
Texas
79413
Mario G. Perez
1303 -59th, Lubbock,
Texas
79412
W.F. Brownlee
4520 -8th, Lubbock,
Texas
79416
Leota Alexander
2512 S1ide,Lubbock,
Texas
79407
Bill McAlister;
3707 68th, Lubbock,
Texas
79413
Al Caviel
2401 E. 28th, Lubbock, Texas 79403
Each incorporator resides within the City.
ARTICLE TEN
A resolution approving the form of these articles of incorporation has
been duly adopted by the governing body of the City. The date of the adoption
of such resolution is December 20, 1979 A copy of the resolution is
attached hereto as Exhibit "A".
ARTICLE ELEVEN
No dividends shall ever be paid by the Corporation and no part of
its net earnings (beyond that necessary for retirement of the indebtedness of
the Corporation or to implement the public purpose of the City for which the
Corporation has been created) shall be distributed to or inure to the benefit
of its directors or officers or any private person, firm, corporation, or
association except in reasonable amounts for services rendered. No substan-
tial part of the Corporation's activities shall be carrying on propaganda, or
otherwise attempting to influence legislation, and it shall not participate
in, or intervene in (including the publishing or distributing of statements),
any political campaign on behalf of or in opposition to any candidate for
public office.
ARTICLE TWELVE
If the Corporation ever should be dissolved when it has, or is entitled
to, any interest in any funds or property of any kind, real, personal, or
mixed, such funds or property or rights thereto shall not be transferred to
private ownership, but shall be transferred and delivered to the City, after
satisfaction or provision for satisfaction of debts and claims.
IN WITNESS WHEREOF, we have hereunto set our hands, this 20th day of
December , 1979.
Incorporators
.tr
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
I, the undersigned, a Notary Public, do hereby certify that on this
day of �r o„, ,� 1979, personally appeared before me ` -Z-8. pp
r�4, Q -O aP C�a� who,
each being by me first duly sworn, severally declared that they are the persons
who signed the foregoing document as incorporators, and that the statements
therein contained are true.
IN WITNESS WHEREOF, I have hereunto set my hand and seal the day and year
above written.
(NOTARY PUBLIC SEAL)
Notary Public i and for Lubbock
County, Texas
My Commission Expires S -//-8/
CERTIFICATE OF SECRETARY
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
CITY OF LUBBOCK §
I, the undersigned, City Secretary of the City of Lubbock, Texas, DO
HEREBY CERTIFY that the attached and foregoing are true and correct copies of:
1. An Application for authorization and approval of a.non-profit cor-
poration to act on behalf of the City bf Lubbock which was presented to the
City Council of the City of Lubbock for consideration and approval; and
2. A resolution of the City Council authorizing and approving the creation
of a non-profit corporation and the articles of incorporation proposed for use
in organizing such corporation, which resolution was passed by the City Council
of the City of Lubbock on the 20th day of December, 1979, at a special meeting
of said governing body.
I FURTHER CERTIFY that such resolution was adopted after consideration of
same, upon a motion being made by Mayor Pro Tem Alan Henry, a second of such
motion by Councilwoman Carolyn Jordan, and upon the vote being called for,
Mayor West, Mayor Pro Tem Alan Henry, Councilwoman Carolyn Jordan, and Council-
man Bill McAlister voted for the adoption thereof, None voted against and
Councilman M.J. Aderton was absent.
I FURTHER CERTIFY that notice of the special meeting stating that the
aforementioned resolution would be presented for consideration and action
thereupon, was duly given to each member of the City Council at least 24 hours
prior to such'special meeting, and that written notice of such meeting stating
the date, hour, place and subject had been posted for more than 2 hours pre-
ceding the day of the meeting as an emergency measure, at the City Hall on a
bulletin board located at'a place convenient to the public, in compliance with
the provisions of Section 3A, Article 6252-17 R.C.S. of Texas.
TO CERTIFY WHICH, witness my official signature and the seal of said City,
this -the 20th day of December, 1979.
1
City Secretary, City o L b , Texas
(Seal)
JCR: cl
N
RESOLUTION #678 - Special Meetingr;
December 18, 1980'
RESOLUTION DIRECTING THE ADOPTION OF ARTICLES OF AMENDMENT TO THE ARTICLE!
OF INCORPORATION OF LUBBOCK HOUSING FINANCE CORPORATION FOR THE PURPOSE OF
CHANGING THE NAME OF THE CORPORATION TO THE.LUBBOCK HOUSING FINANCE CORPORATIO1
WHEREAS, the City Council.(The Council) of the City of Lubbock, Texas,
(The City) passed and adopted..on December 20, 1979 a resolution approving the
creation of Lubbock Housing Finance Corporation (The Corporation), approving
the Articles of Incorporation or the Corporation and that they be filed with
the Secretary of State of the State of Texas naming the Board of Directors of
the Corporation, and taking certain other actions; and
WHEREAS, the Board of Directors has requested that the Council approve the
change of name of the Corporation to "The Lubbock Housing Finance Corporation"
and pursuant to such request the Council, upon its own motion, has determined
to adopt this resolution to approve such change of name;
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS:
SECTION 1. That, having given consideration to the request of the
Board of Directors of the Corporation, the Council hereby authorizes and
approves the changing of the name of the Corporation to "The Lubbock Housing
Finance Corporation" as set forth in the Articles of Amendment to the Articles
of Incorporation of the Corporation attached hereto as Exhibit A.
SECTION 2. That, having reviewed the Articles of Amendment attached
hereto as Exhibit A, the said Articles of Amendment are hereby approved, and
the Council hereby authorizes and directs the Mayor and the City Secretary to
cause the said Articles of Amendment to be filed in duplicate original with the
Secretary of State of the State of Texas.
SECTION 3. That, the Mayor and the City Secretary of the City and
other appropriate officials of the City are hereby authorized and directed to
execute all appropriate certificates and to do any and all other things nec-
essary and/or convenient to carry out the provisions of this resolution.
SECTION 4. That, a duly certified copy of this resolution shall be
admissible evidence in any suit, action or proceeding involving the validity oY
enforcement of or otherwise relating to any contract of the Corporation, and
shall be deemed conclusive proof that the said Articles of Amendment have been
duly authorized by the Council, pursuant to the provisions of the Act.
SECTION S. That, this resolution and all the terms and provisions
hereof shall be liberally construed to effectuate the purposes set forth
herein and to sustain the validity of the authorization of the formation and
operation of the Corporation. If any word, phrase, clause, sentence, para-
graph, section or other part of this resolution, or the application thereof to
any person or circumstance, shall ever be held to be invalid or unconstitu-
tional by any court of competent jurisdiction, the remainder of this resolutio
and the application of such word, phrase, clause, sentence, paragraph, section
or other part of this resolution to any other person or circumstance shall not
be affected thereby.
Passed and approved this 18th day of December, 1980.
t
BILL McALISTER, MAYOR
ATTEST:
Evelyn Gaf ga, City Se re ar �reas�urer
APPROVED AS TO FORM:
o fi C. Ross,.Jr., City Attor ey
JCR:cl
EXHIBIT A
ARTICLES OF AMENDMENT TO ARTICLES OF INCORPORATION
TO LUBBOCK HOUSING FINANCE CORPORATION
We, the undersigned Mayor and City Secretary of the City of Lubbock, do
hereby adopt the following Articles of Amendment to the Articles of Incorpora-
tion dated December 20, 1979 of such Corporation.
ARTICLE I
Article I of the Articles of Incorporation is hereby amended to read as
follows:
"ARTICLE I
The name of the Corporation is THE LUBBOCK HOUSING FINANCE CORPORATION."
ARTICLE II
A resolution directing the adoption of these Articles of Amendment was
passed and adopted by majority vote of the City Council of the City of Lubbock,
Texas on December 18, 1980.
In witness whereof we have hereunto set our hands the 18th day of December,198(
BILL McALISTER, MAYOR
ATTEST:
Evelyn Ga fga, City a ry
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
BEFORE ME, the undersigned authority, a Notary Public in and for said
County, Texas, on this day personally appeared BILL McALISTER, known to me to
be the person whose name is subscribed to the foregoing instrument and ack-
nowledged to me that he executed the same as the act and deed of the CITY OF
LUBBOCK and as MAYOR, for the purposes and consideration therein expressed, and
in the capacity therein stated.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this l8 y'~ day of ec ei„t b led,,
1980.
oPublic,N
bary ubock ounty, Texas
LUBBOCK HOUSING FINANCE CORPORATION
This Board was created by Resolution # 374• Passed by the City Council 12/20/79.
Term: Not in excess of 6 years.
NAME
ADDRESS
PHONE
APPOINTED
EXPIRED
Alexander, Leota
2512
Slide Rd.
792-7604
12/20/79
12/31/85
1402
Ave. G
763-5231
Brownlee, W.F.
4520
- 8th
799-3541
12/20/79
12/31/81
C aviel, Al
2401
E. 28th
765-5311
12/20/79
12/31/83
1719
Ave. A
765-7560
McAlister, Bill
6603
Norwood Ave.
797-5097
12/20/79
12/31/85
Perez, Mario G.
1303
- 59th
763-8421
12/20/79
12/31/83
Smith, M.B.
4010
- 39th
799-8870
12/20/79
12/31/81
12/20/79