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HomeMy WebLinkAbout01-10-85-17 - Resolution - 01/10/1985RESOLUTION NO.01-10-85-17 RESOLUTION APPROVING THE OPERATIONS OF THE BRAZOS COUNTY FINANCE CORPORATION WITHIN THE CORPORATE LIMITS OF THE tITY OF COLLEGE STATION, TEXAS; MAKING FINDINGS AND DECLARATIONS '~N CONNECTION THEREWITH; DECLARING AN EMERGENCY; AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT WHEREAS, pursuant to the provisions of the Texas .Housing Finance Corporations Act, Article 12691-7, Vernon's Texas Civil Statutes (the "Act"), the Brazos County .Housing Finance Corporation (the "Corporation") has been ~eretofore duly created and organized; and WHEREAS, the Corporation is in the process of !mplementing its 1985 Home Mortgage Purchase Program (the 'Program") through the issuance of the Corporation's Home Mortgage Revenue Bonds, Series 1985, to provide funds for making, purchasing or acquiring mortgage loans made to persons of low and 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 n a city within the County with a population in excess of 20,000 persons without the approval of the governing body of such tcity; and WHEREAS, the Corporation has determined pursuant to its and regulations that the population of the City of College on, Texas (the "City"), presently exceeds 20,000 persons and has requested the approval of the City Council of the operations the Corporation through its Program within the City; and WHEREAS, in order to avoid duplication of efforts, to )romote and enhance governmental efficiency and to assist the )oration in meeting the goals and purposes of the Act to make mortgage loans within the County, including the area of the City for persons of low and moderate income, the City ~ouncil has determined to give and acknowledge its approval for 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 iion, Texas, hereby approves of the implementation and 00 .736 ~perations of the 1985 Home Mortgage Purchase Program of the zos County Housing Finance Corporation within the corporate imits of the City and approves of the making, purchase or acquisition by the Corporation or its agents or representatives ~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 the City will serve to accomplish a valid public purpose both the Corporation and the City by assisting persons of low moderate income within the County, including the area of the ity, to obtain decent, safe and sanitary housing, thereby lng to eliminate slums and blighted areas, to relieve .unemployment and depressed economic conditions in the home )n industry, to expand the tax base of the State of · the County, the City and other political subdivisions, and --to reduce public expenditures for crime prevention and control, public health, welfare and safety and for other valid public 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 the date, hour, place and subject of this meeting and of the ~ubject matter of this resolution was posted for at least seventy-two (72) hours before the scheduled time of this meeting; ~hat 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 )ublic at all times from the time of posting until this meeting ;as convened; and that this meeting has been open to the public 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, 's Annotated Texas Civil Statutes, as amended, and the City il further ratifies, approves and confirms such written ce and the contents and the posting thereof. Section 4: The City Council officially finds, lnes, recites and declares that the urgent need for the ision of housing for persons of low and moderate income at ~he earliest possible time creates an emergency and urgent public ~ecessity; that this resolution is therefore declared to be an y measure; and that written notice of the date, hour, ~lace and subject of this meeting and of the subject matter of 00 737 resolution was duly posted on a bulletin board located at a ~place convenient to the public in the City Hall, within the City, .~or 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 10th day of January , .19 85. APPROVED: / 'H~%LTER :DIAN JONES CITY SECRE( 00A738