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HomeMy WebLinkAboutR-1981-18 "'~~'.-';"~ .'l'~:;f'Z:~~~':"~'\1.:~.~~~2"~~1'!:~!~~~~i:!i:~.il?;j[(~~~~~t'I~~~~r;>\~'~;""'~<"!'~~!'~"".-I~~.{ti~~'"':,":'~" ""',:;; - ,~:,'~....~ ~'!'~~,""':t~~:~:":"'~' .' , . . ~. . . '.. e I . ~~~r.~~~~~:~I~~~~4:~~.~~~~~~~~~~~:~.tf.l~~:~~~~~~E~~~~:;ij~~;.~:~'~~,~!~.*~~.;:~~~.:.~~.~{~~:~~~~..~~.~.4;:':a:~r~;?"+~~~:/.i.,~.~.~ .. '. ... ~ . .' . . ". " .. . ~ ..' . I". . ...... ... . .. . ..:". I.. 0". ".' .. _, .: .:..'~ ,""..~:. .':-: ":.~. . ". ...::.:..... .I~.~.~....~.:~..... ...... ..~.-...~.' ............ ".-'" 'II :.:" . ":.....\:. .'. ~'..: :....'..: 't.;' . ."1. ,. 1II~ _. -- RESOLUTION NO. 81 /R RESOLUTION DECLARING THE WISDOM, EXPEDIENCY, NECESSITY AND ADVISABILITY FOR THE FORMATION OF THE SOUTH EAST TEXAS HOUSING FINANCE CORPORATION; CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT: AND DECLARING AN EMERGENCY WHEREAS, as hereinafter recited, it has been proposed that "The South East Texas Housing Finance Corporation" be formed to _ serve those litical subdivisions 'oini.n with the City of Ia. Porte to_ form the _ Southeast Texas Housinq Finance Corporation the I Area of operatIons ") : WHEREAS, the Texas Housing Finance Corporations Act, Article 1269 1-7, Vernon I s Texas Civil Statutes, as amended authorizes cities and/or counties to jointly create and utilize public nonprofit housing finance corporations for the purpose of provid- ing a means of financing the cost of residential ownership and development that will provide decent, safe and sanitary housing for residents of the }~rea of Operations: WHEREAS, pursuant to the provisions of the Act, three or more residents of each of the sponsoring political subdivisions (the "Incorporators"), each being a citizen of the State of Texas, of the age of 18 years or more, have made application in writing to the City Council of the City (the "City Council") seeking the incorporation under the Act of a public nonprofit housing finance corporation to be called "The South East Tex'as Housing Financ~ Corporation" (the "Corporation") with authority to carry out th.e public purposes for which it is incorporated, to exercise the powers with which it is invested by the Act and its Articles of Incorporation, including the power to issue its obligations to _accomplish such public purposes and powers, as a public instru- mentality and nonprofit corporation to exist and act on behalf of, and for the benefit of, the general public, its sponsoring political subdivisions and the State of Texas, and have attached to such application the form of Articles of Incorporation to be used to organize the Corporation for approv~l by the City Council together with such application: and WHEREAS, the Act provides that the Corporation may not be formed unless such application and such Articles of Incorporation shall have been first filed with the City Council and the City Council shall have by appropriate resolution duly adopted (1) found and determined that it is wise, expedient, necessary and advisable that the Corporation be formed and (2) approved the form of the Articles of Incorporation to be used in organizing the Corporation; and .' e . 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WHEREAS, the Cit:y Council has determined, upon its own mo- tion, to acopt such resolution; and NOW THE~ORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF La Porte TEXAS: . Section ::. That the City Council officially finds, deter- mines, reC1~;S and declares that (1) it is wise, expedient, necessary anii advisable that there be provided in the City a means of f~nancing the cost of residential ownership and develop- ment that will pro';ride decent, safe and sanitary housing for residents of the Ci,ty at prices that they can afford; (2) that such residen-:.ial ownership and development will (a) provide for and promote the public health, safety, morals and welfare: (b) relieve conditions of unemployment and encourage the increase of industry and commercial activity and economic development so as to reduce the evils attendant upon unemployment; (c) provide for efficient and well-planned urban growth and development including the elimination and prevention of potential urban blight and the proper coord:.nation of industrial faci'lities with public ser- vices, mass transportation and residential development; (d) assist persons of lo'w and moderate income in acquiring and owning decent, safe and sanitary housing which they can afford: and (e) preserve and increase the ad valorem tax basis of the City; (3) that the City should cooperate with the other sponsoring political sucdivisions constituting the Area of Operations for the mutual ~enefit of the City and _ such other sponsoring poli tical sucdi visions, and (4) that in order to accomplish the foregoing pu1:lic purppses and benefits there should be formed, pursuant to the application of Incorporators and the attached Articles of Incorporation presented therewith to this City Council, a p:lblic nonprofit housing finance corporation to be called UThe South "East Texas Housing Finance Corporation" (the "Corporation") with authority to carry out the publ ic purposes for which it is incorporated, to exercise. the powers with which it is invest~j by the laws of the State of Texas, its sponsoring political subjivisions and its Articles of Incorporation, i~clud- ing the powe::- to issue its obligations to accomplish such pur- poses and powers, as a public instrumentality and nonprofit corporation to exist and act on' behalf of and for the be:1efit of the general p~blic, the City and the State of Texas. Section 2. That, having considered the application of the Incorporators attached hereto as Exhibit "A", the said applica- tion of the Incorporators to this City Council for approval of the formation of the Corporation in accordance with the provi- sions of the Act is hereby approved; that the Articles of Incor- poration presented to this City Council by the Incorporators with -2- .:.;}-....;:.t:...::. :""" . :~ :..,.: ;':.:: ~ ... ;,~,;\.:..!~.:..;..-.;,: ,_,:"~.!t.;~::-.~,;:..,.....-" .;.?,':. ~::?;'':-~''::'S''.:..'"':~f::'~'~:':''~~'_: >:~-::':- :~';~:>'~:";~:~~~;~<;'1'~'\~~~,"';"*,~'''':~~~~''~~:' ( II , e ,"~'="''''~'''JI. .:.._'.._ - , . . . .. '.. ft" -. ;;- ..-=...~~.;. ~'.. ~ ~~,;:~,.'f~:r: ;:.. ;.:..... "~.:: :";:'-o.=- ;.:~-~..~ ~;.~..'~ ~:-!t'.;:.~$.tl~~.~~."~:.j .,~~.:~,~,,\i~~:~~~~~:~1~i.~~~,~~.~~~~~~'~~,~~~,!,:~, . '. ... , t~ .- .... ." ., . ,', . I....:..... .-:......: _ .... ...:. . '. .'.- ..: ; .~::. ~ ,';.' ..., .;....~.: '... said application and attached hereto as Exhibit liB" are hereby approved; and that the Incorporators are hereby authorized and directed to file with the Secretary of State of the State of Texas duplicate originals of the Articles of Incorporation. e Section 3. That upon the issuance by the Secretary of State of a Certificate of Incorporation, the Incorporators are hereby authorized and directed, in accordance with the provisions of the Act, to call the organizational meeting of the Corporation after having given at least three days' notice thereof by mail to each director named in the Articles of Incorporation, which notice shall state the time and place'of such organizational meeting. Section 4. That, having given consideration cations of _ &nt'\n~ n:)~ ~, flJ.;f'. LOlL L~IAJl ~ -0- to the qualifi- , and to serve as directors of the Corporation and having determined that the public good will be furthered by making such appointments, they are hereby appointed by this City Council to constitute the initial Board of Directors of the Corporation to serve, subject to removal by the City Council for cause or at will, for such terms as are stipulated in the Articles of Incorporation. Section 5. That uoon the issuance of its Certificate of Incorporation' the exist'ence of the Corporation shall begin; that the Corporation shall constitute a public instrumentality and _ nonprofit corporation operating under the name of liThe South East _ Texas Housing Finance Corporation; and that the Corporation shall be authorized, in accordance with the provisions of the Act, this resolution and subsequent actions of the City Council, and its Articles of Incorporation to carry out the public pur- poses and powers set forth therein and herein; provided, however, that the governing bodies of the sponsoring political subdivi- sions may, either upon (l) the application of the Board of Direc-, tors of the Corporation, or (2) their own motion, by appropriate resolutions duly adopted cause the Articles of Incorporation to be amended to alter or change the structure, organization, pow- ers, programs or activities of the Corporation, and may cause the existence of the Corporation - to be terminated, subject to the provisions of the Act and to any limitation on the impairment of contracts entered into ~y the Corporation. Section 6. That, pursuant to the provisions of the Act, upon the issuance by the Secretary of State of the State of Texas of a Certificate of Dissolution of the Corporation, the Corporation . -3- .....-..r;*j.!3r~:"~~.;.p:~~~n'>olO':~'.....,;:.,.~....:O,,'..,..:"':~~"'..*',.~,;'"...., '. I, '.;' .~,:-...", '_~~""<If,,,:':'..~...~~I::,.:,.;~,"':,.,:"::~/;;::,,, ~:fo ',';,' ';:::..;:.~:\,\,~.',:".:~: :'::<';~~'".!o\.:~.":'.,,,, ~ .:;~~""~.: :"1~.~'...~;. ~ <"~~~~~~~?I~~~~~~~;"~,,~~~:-,:~~~~:~~,-::-:f.-~.~~~:~ ~ .~~'~:'j:~~~~;~~f~..:.-;~~.~".~.l~~'~';I;':}~:";".!'~~~~~'~'{'-4r~I'~~~..~ :".;'.~~~.' '~~.~. ~~i'~. : "', ~':;:71 .~.:.: .~.; - ~,) t..' . "... . . . . . ~ -- .'. ", . . snall tnereupon stand dissolved and title to all funds and prop- erties owned by tne Corporation at the time of such dissolution shall vest severally in the sponsoring political subdivsions in proportion to the ratio that each of their populations (as re- flected by the 1980 decennial census) bears to their total popu- lation (as reflected by the 1980 decennial census). Section 7. That, pursuant to the provisions of the Act, the Corporation shall be a public instrumentality and nonprofit corporation existing and acting on benalf of, but separate and apart from, the sponsoring political subdivisions, and the spon- soring political subdivisions shall not be liable for any of the ohligations of the Corporation or bound by any actions or pro- ceedings of the Corporation except as may be specifically assumed by the sponsoring political subdivisions. Section 8. That the Mayor and the City Secretary of the City and other appropriate officials of the City are hereby authorized and directed to execute all appropriate Certificates and to do any and all other things necessary and/or convenient to carry out the provisions of this resolution. e Section 9. That a duly certified copy of this resolution shall be admissible in evidence in any suit, action or proceeding involving the validity or enforcement of or otherwise relating to any contract of the Corporation, and shall be deemed conclusive proof that the Corporation has been authorized to be formed. and to transact business and exercise its powers pursuant to the provisions of the Act.., Section 10. That this resolution and all the terms and provisions hereof shall be liberally construed to effectuate the purposes set forth herein and to sustain the validity of the authorization ox the formation and operation of the Corporation. If any word, phrase,' clause, sentence, paragraph, section or other part of this resolution, or the application thereof to any person or circumstance, shall ever be held to be invalid or unconstitutional by any court of competent juriSdiction, the remainder of this resolution and the application of such word, phrase, clause, sentence, paragraph, section or other part of this resolution to any other persons or circumstances shall not be affected thereby. Section 11. That the City Council has considered evidence of tne posting of notice of this meeting of the City Council, and the City Council officially finds, determines, recites and de- clares that a sufficient written notice of the date, place, and hour of this meeting of the City Council and of the subject of -4- .... I I . I :;":?~..:[j..:...~~.>-::.~'" '":":~~~.:.:..'~:.l:-~~~~~..'.~~,.".;,;'i. "",~::j~~....~ "':.:7j.~~~1"~,,:.,,,'.,~,"::~~:~(~~::'A"'~~~~~:!i':t:, ~~~::r-.~.~l1~~~~"i~:':..foa.",!,~~~~~'f~~ko ," . :". . / ,~\~>:..?~,,::,,; .. "~. . ~ ..~ ~'... ..' .~ :.;..~.".t::1't'~~~~~;\~'~~~~~~~~";~':~~~",:~~:~~~~Yf=~~-':':~~.~:$~~~~f...\!):~~~~~~t~~~t~~~~~~r..~:r~'b~~~~~~~~~~T~~~"!~~;,~;:~~~s- ." '... . .... . . .' ..... .. '," .... '.: 0, . '. ": '". ...~.. ...~. ..;. . ", ,.. _". :. ~ . . 0' o. . 00... " ',~":,,,.::,.:,,......,,\,..;.,,;,;.:~,,,'....~.M.:. ....~....~..... ::"''''I~-F::':':'''' . :.':..._.l......:....:.~.....:..: ..".. ._ 0_', ....;:..~......," .j'.. ',"-..: I' 00.".... ......-........Jt:.... '':.:00 ;..,.;. ;"__~~....L.; ..~"'.~....r:; -...,. ;...~. . '...\ .:. r_~.'"_. .... .' : 00 ':,' . '. .. . . . . this resolution was posted for at least two hours before this meeting was convened;' that such notice was posted on a bulletin board in the City Hall located at a place convenient 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 thereof has been discussed, considered and formally acted upon; all as required by the Open Meetings Law, Article 6252-17, Vernon I s Annotated Texas Civil Statutes, as amended. The City Council further ratifies, approves and confirms such, written notice and the contents and posting thereof. Section 12. That the City Council officially finds, deter- mines, recites, and d.eclares that the need for the Corporation to be formed and begin transacting business and exercising its powers at the earliest possible date is necessary for the immedi- ate preservation of health and safety and creates an emergency and urgent public necessity; that this resolution is therefore declared to be an emergency measure; and that written notice of the date, place and hour of this meeting and the subject matter of this resolution shall be sufficient notwithstanding that such written notice may not have been posted for 72 hours before this meeting was convened. PASSED AND APPROVED this 19th day of August 1981. e CI~~RTE ~ ---- J. J. Meza, Mayor ATTEST. 2__ ~~ / C' Y ecretary (SEAL) APPROVED: ~ ~~.:) . nox w. Ask~ns City Attorney -5-