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