HomeMy WebLinkAboutResolution - 2000-R0010 - Authorize Application - SPHFC - Single Family Mortgage Revenue Bonds - 01_13_2000Resolution No. 2000—R0010
January 13, 2000
Item No. 25
RESOLUTION
AUTHORIZING THE APPLICATION OF THE
SOUTH PLAINS HOUSING FINANCE CORPORATION SINGLE FAMILY MORTGAGE
REVENUE BONDS, SERIES 2000A MORTGAGE PROGRAM TO SINGLE FAMILY HOMES WITHIN
THE CITY OF LUBBOCK
WHEREAS, the Texas Housing Finance Corporation Act, Section 394.001 gt.M., Texas Local
Government Code as amended (the "Act"), enables any city, town or country, individually or jointly, of the State of
Texas to authorize the creation of a housing finance corporation as a public nonprofit corporation and
instrumentality thereof to exercise and carry out the public purposes and powers with which it is invested by the
Act and its Articles of incorporation, including the power to issue its obligations for the purpose of acquiring from
mortgage lending institutions home mortgages made to low and moderate income persons with respect to owner -
occupied residences located within such city, town or county or group thereof; and
WHEREAS, by appropriate resolution, the Commissioners Court (the "Governing Body") of Lubbock
County, Texas (the "County") has authorized the incorporation of South Plains Housing Finance Corporation
("Corporation") in accordance with the provisions of the Act; and
WHEREAS, the Corporation has been incorporated in accordance with the resolutions of the Governing
Body and the provisions of the Act; and
WHEREAS, the Corporation has determined to implement a program in accordance with the purposes of
the Act, to assist persons of low and moderate income to afford the costs of acquiring and owning decent, safe and
sanitary housing within the South Plains Association of Governments area, including the County through the
issuance of its South Plains Housing Finance Corporation Single Family Mortgage Revenue Bonds, Series 2000A
to fund its 2000 and 2001 Mortgage Programs (the "Program"); and
WHEREAS, pursuant to Section 394.005 of the Act the Program cannot apply to property located within a
municipality with more than 20,000 inhabitants unless the governing body of the municipality approves the
application to that property; and
WHEREAS, the City of Lubbock has more than 20,000 inhabitants and the City Council believes that it
would be advantageous to the residents of the City of Lubbock to have the Program apply to single family homes
within the City of Lubbock;
I EREFORE, BE IT RESOLVED THAT:
Section 1. The City Council hereby approves the application of Chapter 394 of the Texas Local
Government Code to property within the City of Lubbock with respect to the Program.
Section 2. This resolution shall be of full force and effect from and upon its adoption.
PASSED AND ADOPTED AS OF THE 13th January, 2p00,
i/�-
v
WINDY SITTON, YOR
ATTEST:
K Q i
Kaythie bamell, City Secretary U� 6 ` a�
APPROVED AS TO CONTENT:
Anna osqueda
Managing Director Management Services
APPROVED AS TO FORM:
Linda L. Chamales
Supervising Attorney Office Practice
LLC:cp CityaVAinda/SPHFC.res & oodocs
January 3, 2000
Resolution No. 2000—R0010
Jan. 13, 2000
Item No. 25
CERTIFICATE FOR RESOLUTION
AUTHORIZING THE APPLICATION OF THE
SOUTH PLAINS HOUSING FINANCE CORPORATION SINGLE FAMILY MORTGAGE
REVENUE BONDS, SERIES 2000A MORTGAGE PROGRAM TO SINGLE FAMILY HOMES WITHIN
THE CITY OF LUBBOCK
THE STATE OF TEXAS
COUNTY OF LUBBOCK
I, the undersigned officer of The City of Lubbock, Texas (the "City"), do hereby execute and
deliver this certificate for the benefit of all persons interested in the proceedings of the City and the validity thereof,
and do certify as follows:
I . I am the duly chosen, qualified and acting officer of the City for the office shown below
my signature; as such I am familiar with the facts herein certified and I am duly authorized to execute and deliver
this certificate.
2. In accordance with the City Charter, the City Council (the "Council") held a meeting in
Lubbock, Texas on January 13th , 2000 (the "Meeting"), and the roll was called of the duly constituted members of
the Council, to wit:
Mayor Windy, Sitton
Councilman Victor Hernandez
Councilman T.J. Patterson
Councilman Max L. Ince
Councilman Marc McDougal
Councilman David Nelson
Councilman Ales "Ty" Cooke
Councilman
All of such persons were present, except the following absentees: Victor Hernandez
Thus constituting a quorum. Whereupon a written:
RESOLUTION
AUTHORIZING THE APPLICATION OF THE
SOUTH PLAINS HOUSING FINANCE CORPORATION SINGLE FAMILY MORTGAGE
REVENUE BONDS, SERIES 2000A MORTGAGE PROGRAM TO SINGLE FAMILY HOMES WITHIN
THE CITY OF LUBBOCK
(the "Resolution") was duly moved and seconded and, after due discussion, said motion, carrying with it the
adoption of the Resolution, prevailed and carried by the following votes:
AYES: 6 NOES: 0 ABSTAIN: 0
3. A true, full, and correct copy of the Resolution adopted at the Meeting is attached to and
follows this certificate; the Resolution has been duly recorded in the Council's minutes of the Meeting; each of the
officers and members of the Council was duly and sufficiently notified officially and personally, in advance, of the
time, place, and purpose of the Meeting in accordance with the City Charter, and that the Resolution would be
introduced and considered for adoption at the Meeting, and the Meeting was held and conducted in accordance with
the City Charter.
SIGNED AND SEALED this 13 th day of January, 2000.
By:
Title: (Assistant) Cit Secretary
(S E A L)
LLC:cp Cityatt\Linda\SPHFC-2.res & ccdocs
January 3, 2000