HomeMy WebLinkAboutPR 13166: J.C. HOUSING FINANCEinteroffice
MEMORANDUM
To: Mayor, City Council, and City Manager
From: Mark T. Sokolow, City Attorney ~/~ ~,~f~e6------~
Date: February 3, 2006
Subject: P. R. 13166 Council Meeting February 7, 2006
Attached is ?. R. No. 13166 assigning to the Jefferson
County Housing Finance Corporation the authority of the Port
Arthur Housing Finance Corporation to issue qualified mortgage
bonds in calendar years 2006 through 2009; approving the making
of home mortgage loans within the City from the proceeds of bonds
issued by the Jefferson County Housing Finance Corporation during
such calendar years; and repealing prior resolutions or orders in
conflict therewith.
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Attachment: Letter from Jeff Branick
P. R. No. 13166
cc: VIA FACSIMILE (409) 835-2115
Guy Goodson
VIA FACSIMILE (409) 729-7503
Jeff Branick, President
Jefferson County Housing Finance Corporation
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JEFFERSON COUNTYHOUSING FINANCE CORPORATION
P.O. BOX 4915
BEAUMONT~ TEXAS 77/04
Febru~ 2, 2OO6
Mr. St~v¢ Firzgtbbom
City Mmag~ of Port Arthur
P.O. Box 1089
Port Arthur, Texas 77641-1089
Re: Ieftt~on County Housing Finan~ Corporation (the 'Corporation') - Rezolution on
Population Census
Dear Mt. Fitzg~bom:
Plcasc find a~achcd a Resolution w,- are reque~ting ~ ~e Ci~ ~rove ~ yo~
~ming ~y COUlIC~ ~. ~ Ci~ ~ ~ly ~pmv~ a ~tl~ ~so~a w~
~ y~ for y~r ~ in ~s r~.
J~e~ ~ Ho~ ~
P. R. No. 13166
02/02/06 gt
RESOLUTION NO.
A RESOLUTION ASSIGNING TO THE J~FFERSON COUNTY
HOUSING FINANCE CORPORATION THE AUTHORITY OF THE
PORT ARTHUR HOUSING FINANCE CORPORATION TO ISSUE
QUALIFIED MORTGAGE BONDS IN C~?m~]DAR YEARS 2006
THROUGH 2009; APPROVING THE MI%KING OF HOME
MORTGAGE LOANS WITHIN THE CITY FROM THE PROCEEDS
OF BONDS ISSUED BY THE JEFFERSON COUNTY
HOUSING FINANCE CORPORATION DURING SUCH C~?.~NDAR
YEAR; AND REPF2tLING PRIOR RESOLUTIONS OR ORDERS
IN CONFLICT HEREWITH.
WHEREAS, the Jefferson County Housing Finance Corporation
(the "Corporation") is an existing housing finance corporation
created in accordance with the Texas Housing Finance Corporations
Act, TEX. LOC. GOV'T CODE CH. 394 (the "Act"); and
WHEREAS, the City Council of the City of Port Arthur, Texas
(the "City"), has heretofore authorized the formation of the Port
Arthur Housing Finance Corporation to act on behalf of the City in
accordance with the Act; and
WHEREAS, in accordance with the Act, the City may assign the
authority of the Port Arthur Housing Finance Corporation to issue
qualified mortgage bonds on behalf of the City to another housing
finance corporation; and
WHEP~AS, it is hereby determined that it is in the best
interest of the citizens of the City to assign to the Corporation
the authority of the Port Arthur Housing Finance Corporation to
issue qualified mortgage bonds in calendar years 2006 through
2009, and to approve the making of home mortgage loans within the
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City from the proceeds of bonds issued by the Corporation during
such calendar years; and
WHEP~AS, this meeting is open to the public as required by
law, and public notice of the time, place and purpose of this
meeting was given as required by Chapter 551, Government Code,
V.T.C.A. (the "Texas Open Meetings Act").
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PORT ARTHUR:
Section 1. That the findings and declarations contained in
the recitals of this Resolution are incorporated herein as part of
this Resolution.
Section 2. That the City Council hereby assigns to the
Corporation the authority of the Port Arthur Housing Finance
Corporation to issue qualified mortgage bonds in calendar years
2006 through 2009.
Section 3. That the City Council hereby authorizes and
approves the application of the Act to the property located within
the City in accordance with Sec. 394.005 of the Act and authorizes
use of the proceeds of the Corporation's bonds to be issued in
calendar years 2006 through 2009 to finance mortgages for homes
located within the City.
Section 4. That all resolutions and orders, or parts
thereof, in conflict with this Resolution are hereby repealed to
the extent of such conflict.
Section 5. That this Resolution shall take effect
immediately from and after its adoption.
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Section 6. That a copy of this Resolution be spread upon the
Minutes of the City Council.
READ, ADOPTED AND APPROVED this the day of February,
A.D., 2006, at a Meeting of the City Council of the City of Port
Arthur, Texas, by the following vote:
AYES: Mayor
Councilmembers
NOES:
MAYOR
ATTEST:
CITY SECRETARY
APPROVED AS TO FORM:
CITY ATTORNEY
APPROVED AS TO ADMINISTRATION:
CITY MANAGER
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