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HomeMy WebLinkAbout10-08-80-1 - Resolution - 10/08/1980RESOLUTION NO. 10-08-80-1 A 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 IN CONNEC- TION THEREWITH; DECLARING AN EMERGENCY; AND CON- TAINING OTHER 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 heretofore duly created and organized; and WHEREAS, the Corporation is in the process of implement- ing its 1980 Home Mortgage Purchase Program (the "Program" ) through the issuance of the Corporation's Home Mortgage Revenue Bonds, Series 1980, to provide funds for making, purchasing or acquiring mortgage loans made to persons of low and moderate income for the purchase, improvement or construction of homes within the boundaries of Brazos County (the "County"); and WHEREAS, the Act provides that the Corporation may not make, purchase or acquire mortgage loans to finance homes located within a city within the County with a population in excess of 20,000 persons without the approval of the govern- ing body of such city; a~d WHEREAS, the Corporation has determined pursuant to its rules and regulations that the population of the City of College Station, Texas (the "City"), presently exceeds 20,000 persons and has requested the approval of the City Council of the operations of the Corporation through its Program within the City; and WHEREAS, in order to avoid duplication of efforts, to promote and enhance governmental effeciency and to assist the Corporation in meeting the goals and purposes of the 'Act to make available mortgage loans within the County, including the area of the City, for persons of low and moderate income, the City Council has determined to give and acknowledge its approval for such purposes through the adoption of a resolu- tion of the City Council; Now, Therefore, ~'~0 BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF COLLEGE STATION, TEXAS, THAT: Section l: The City Council of the City of College Station, Texas, hereby aporoves of the implementation and operations of the 1980 Home Mortgage Purchase Program of the Brazos County Housing Finance Corporation within the corpo- rate limits of the City and approves of the making, purchase or acquisition by the Corporation or its agents or represen- tatives of 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 and declares that the implementation of the Corporation's Program 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 helping to eliminate slums and blighted areas, to relieve unemployment and depress- ed 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, and to reduce public expenditures for crime prevention and control, public hea~th, welefare and safety and for other valid public purposes. Section 3: The City Council has considered evidence of the posting of notice of this meeting and officially finds, determines, recites and declares that a sufficient written notice of 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 place 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 City Council further ratifies, approves and confirms such written notice and the contents and the posting thereof. 030 :t Section 4: The City Council officially finds, deter- mines, 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 therfore declared to be an emergency measure; and that written notice of the date, hour, place and subject of this meeing and of the sub- ject matter of this resolution was duly posted on a bulletin board located at a place convenient to the public in the City Hall, within the City, for more than two (2) hours prior to the scheduled time of this meeting and, therefore, such notice shall be sufficient, notwithstanding that same may not have been posted for seventy-two (72) hours before such meeting. PASSED AND APPROVED this 8th day of Oct. , 1980 ATTEST: City Secretary (SEAL) 030 tZ