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REQUEST FOR CITY COUNCIL AGENDA ITEM <br />Agenda Date Requested: January 9, 2023 <br />Requested By: Corby Alexander, City Manager <br />Department: Administration/CMO <br />• Report c - Resolution (- Ordinance <br />Exhibits: SETH Packet for The Portofino Apartments <br />Appropriation <br />Source of Funds: <br />Account Number: <br />Amount Budgeted: <br />Amount Requested: <br />Budgeted Item: Yes No <br />SUMMARY & RECOMMENDATION <br />The City of La Porte is an incorporating jurisdiction with the Southeast Texas Housing <br />Finance Corporation (SETH). The mission of SETH is to promote affordable housing <br />opportunities for low to moderate -income Texans. SETH is financing a project in <br />Pasadena. In order for SETH to issue tax-exempt Bonds for these projects, the Attorney <br />General is requiring a General and No Litigation Certificate from all incorporating <br />jurisdictions. <br />The City of La Porte is currently not in litigation, nor do we anticipate litigation with <br />SETH. SETH is requesting City Council to authorize the Mayor to sign the General and <br />No Litigation Certificate with SETH. The City of La Porte will incur no financial <br />obligations associated with this proposed bond. <br />ACTION REQUIRED BY CITY COUNCIL <br />Authorize the Mayor to sign the General and No Litigation Certificate with <br />Southeast Texas Housing Finance Corporation (SETH) for the Portofino <br />Apartments. <br />Approved for the City Council meeting agenda <br />Corby D. Alexander, City Manager Date <br />