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RESOLUTION 2025-21 APPROVING ASSIGNMENT OF PRIVATE
<br />ACTIVITY BOND AUTHORITY TO TEXAS DEPARTMENT OF
<br />HOUSING AND COMMUNITY AFFAIRS; AND CONTAINING
<br />OTHER PROVISIONS RELATING TO THE SUBJECT
<br />WHEREAS, The Southeast Texas Housing Finance Corporation (the "Corporation ") was
<br />created by the Texas Counties of Austin, Brazoria, Chambers, Galveston (excluding the City of
<br />Galveston), Liberty, Matagorda, Walker, Waller and Wharton and the Cities of Baytown, Deer
<br />Park, Dickinson, La Marque, La Porte, Pasadena, Santa Fe, Shoreacres, Texas City and Tomball
<br />pursuant to the provisions of the Texas Housing Finance Corporations Act, as amended, formerly
<br />Article 12691-7, Vernon's Annotated Texas Civil Statutes, and now codified as Texas Local
<br />Government Code, Chapter 394 (the "Act"); and
<br />WHEREAS, by resolution adopted on July 17, 2025, the Board of Directors of the
<br />Corporation authorized filing with the Texas Bond Review Board an application for reservation of
<br />state ceiling for issuance of qualified mortgage revenue bonds in the maximum amount of
<br />$60,000,000 (the "Reservation"); and
<br />WHEREAS, by resolution adopted on July 17, 2025, the Board of Directors of the
<br />Corporation determined to delegate to the Texas Department of Housing and Community Affairs
<br />("TDHCA "), pursuant to Chapter 394.032(e) of the Texas Local Government Code, the authority
<br />to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement,
<br />and disposal of certain home mortgages or residential developments, within and outside the
<br />jurisdiction of the Corporation, including its authority to issue bonds for those purposes; and
<br />WHEREAS, as a governmental unit that created the Corporation, the City Council of the
<br />City of La Porte, Texas (the "Governing Body") desires to approve the assignment of a portion of
<br />the Reservation to TDHCA in accordance with Chapter 1372.044 of the Texas Government Code;
<br />and
<br />WHEREAS, the Governing Body desires to approve the Assignment Agreement in
<br />substantially the form attached as Exhibit A between the Corporation and TDHCA (the
<br />"Assignment Agreement"); and
<br />WHEREAS, it is deemed necessary and advisable that this Resolution be adopted;
<br />THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA
<br />PORTE, TEXAS THAT:
<br />Section 1. The Governing Body specifically approves and consents to the assignment
<br />of a portion of the Reservation to TDHCA in accordance with Chapter 1372.044 of the Texas
<br />Government Code and approves the Assignment Agreement.
<br />Section 2. The Mayor of the City of La Porte, Texas is hereby authorized, jointly and
<br />severally, to execute and deliver such endorsements, instruments, certificates, documents, or
<br />papers necessary and advisable to carry out the intent and purposes of this Resolution.
<br />2025 Sponsor Resolutions - TDHCA Assignment 4901-2674-9270 v4.docx
<br />2239853
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