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HomeMy WebLinkAbout08-23-84-13 - Resolution - 08/23/1984 RESOLUTION NO. 08-23-84-13 RESOLUTION APPROVING THE OPERATIONS OF THE BRAZOS COUNTY )HOUSING FINANCE CORPORATION WITHIN THE CORPORATE LIMITS OF THE .~CITY OF COLLEGE STATION, TEXAS; MAKING FINDINGS AND DECLARATIONS CONNECTION THEREWITH; DECLARING AN EMERGENCY; AND CONTAINING PROVISIONS RELATING TO THE SUBJECT WHEREAS, pursuant to the provisions of the Texas ~Housing Finance Corporations Act, Article 12691-7, Vernon's ~Annotated Texas Civil Statutes (the "Act"), the Brazos County ,Housing Finance Corporation (the "Corporation") has been 'hertofore duly created and organized; and WHEREAS, the Corporation is in the process of implementing its 1984 Home Mortgage Purchase Program (the Program") through the issuance of the Corporation's Home 'Mortgage Revenue Bonds, Series 1984, to provide funds for making :purchasing or acquiring mortgage loans made to persons of low ~/noderate income for the purchase, improvement or construction of i/homes within the boundaries of Brazos County (the "County"); and WHEREAS, the Act provides that the Corporation may not , purchase or acquire mortgage loans to finance homes located" .within a city within the County with a population in excess of i~20,000 persons without the approval of the governing body of such. i~city; and WHEREAS, the Corporation has determined pursuant to its 'rules and regulations that the population of the City of College ion, Texas (the "City"), presently exceeds 20,000 persons and requested the approval of the City Council of the operations ~f the Corporation through its Program within the City; and WHEREAS, in order to avoid duplication of efforts, to )romote and enhance governmental effeciency and to assist the ~orporation in meeting the goals and purposes of the Act to make ~Dvailable mortgage loans within the County, including the area of ~he City for persons of low and moderate income, the City Council has determined to give and acknowledge its approval for ~uch purposes through the adoption of a resolution of the City ~Council; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ~OLLEGE STATION, TEXAS, THAT: Section 1: The City Council of the City of College · Texas, hereby approves of the implementation and 00 .92 ions of the 1984 Home Mortgage Purchase Program of the County Housing Finance Corporation within the corporate limits of the City and approves of the making, purchase or acquisition by the Corporation or its agents or representatives mortgage loans to persons of low and moderate income to ~>finance the costs of purchasing, improving or constructing homes ~:'within the corporate limits of the City, all as required by the 'Act. · - Section 2: The City Council hereby finds, determines i:iand declares that the implementation of the Corporation's Pro( 'within the City will serve to accomplish a valid public purpose of both the Corporation and the City by assisting persons of low and moderate income within the County, including the area of the City, to obtain decent, safe and sanitary housing, thereby i~helping to eliminate slums and blighted areas, to relieve unemployment and depressed economic conditions in the home construction industry, to expand the tax base of the State of Texas, the County, the City and other political subdivisions, to reduce public expenditures for crime prevention and control, public health, welfare and safety and for other valid public purposes. !' Section 3: The City Council has considered evidence i~of the posting of notice of this meeting and officially finds, ~determines, recites and declares that a sufficient written notic~i >iof the date, hour, place and subject of this meeting and of the .,subject matter of this resolution was posted for at least __~:seventy-two (72) hours before the scheduled time of this meeting;~, that such notice was posted on a bulletin board located at a ~lace convenient to the general public in the City Hall, within the City; that such place was readily accessible to the general ~!public at all times from the time of posting until this meeting ~was convened; and that this meeting has been open to the public at all times during which this resolution and the subject matter hereof has been discussed, considered and formally acted upon; ..all as required by the Open Meetings Law, Article 6252-17, Vernon's Annotated Texas Civil Statutes, as amended, and the Cit, Council further ratifies, approves and confirms such written ~notice and the contents and the posting thereof. Section 4: The City Council officially finds, determines, recites and declares that the urgent need for the provision of housing for persons of low and moderate income at the earliest possible time creates an emergency and urgent public necessity; that this resolution is therefore declared to be an emergency measure; and that written notice of the date, hour, and subject of this meeting and of the subject matter of ooa s resolution was duly posted on a bulletin board located at a convenient to the public in the City Hall, within the City more than two (2) hours prior to the scheduled time of this ting, and, therefore, such notice shall be sufficient, !~notwithstanding that same may not have been posted for ~seventy-two (72) hours before such meeting. ? 19 84 · ATTEST: PASSED AND APPROVED this 23rd day of Aucjust ooaaga