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<br />e <br /> <br />e <br /> <br />Minutes Regular Meeting <br />La Porte city council <br />November 8, 1993, Page 6 <br /> <br />be award of this fact. <br /> <br />Ayes: <br /> <br />Councilpersons Sutherland, Cooper, <br />McLaughlin, Porter, Gay, Maxwell, Clarke <br />Malone <br />None <br /> <br />Thrower, <br />and Mayor <br /> <br />Nays: <br /> <br />7. Council considered approving an ordinance authorizing the <br />Mayor to sign all necessary documents approving the issuance <br />of up to $30,000,000.00 in bonds and the issuance of mortgage <br />credit certificates not to exceed 25% of the aggregate bond <br />allocation. <br /> <br />Planning Director Chuck Harrington gave an overview to Council <br />of the program by Southeast Texas Housing Finance Corporation <br />to assist citizens in purchasing housing. Mr. Harrington <br />stated staff recommends that Council endorse the single family <br />mortgage bond, mortgage credit certificate programs, and <br />authorize the Mayor to sign all necessary documents. <br />Approving these programs does not place any financial burden <br />on the City of La Porte, and we are not responsible for any of <br />the debt nor does it affect our bonding. As a part of the <br />consortium of Southeast Texas, the City must approve these <br />programs and authorize the Mayor to sign these documents. <br /> <br />8. Consider an ordinance authorizing the City Manager to complete <br />all documentation necessary to submit an application to Texas <br />Department of Housing and Community Affairs for funding under <br />the HOME Program. <br /> <br />Mr. Harrington also addressed item 8 regarding the Texas <br />Department of Housing and Community Affairs (TDHCA), the <br />establishment of the HOME Program, and introduced Mr. Lee <br />Hebel with Southeast Texas Housing Finance Corporation who <br />answered questions from Council regarding these two programs. <br /> <br />(Council voted on Item 7 first) <br /> <br />City Attorney read: ORDINANCE 93-1947 AN ORDINANCE <br />AUTHORIZING THE MAYOR TO SIGN A CERTIFICATE APPROVING THE <br />ISSUANCE OF MORTGAGE CREDIT CERTIFICATES ANQ/OR SINGLE FAMILY <br />MORTGAGE REVENUE BONDS BY THE SOUTHEAST TEXAS HOUSING FINANCE <br />CORPORATION; MAKING VARIOUS FINDINGS AND PROVISIONS RELATING <br />TO THE SUBJECT; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; <br />PROVIDING AN EFFECTIVE DATE HEREOF. <br /> <br />Motion was made bv Counciloerson Maxwell to aoorove Ordinance <br />