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HomeMy WebLinkAbout15111 RES - 09/12/1979A RESOLUTION APPROVING THE FORM OF THE RESTATED ARTICLES OF INCORPORA- TION OF THE CORPUS CHRISTI HOUSING IMPROVEMENT CORPORATION; AND DECLARING AN EMERGENCY. WHEREAS, an application in writing seeking the incorporation of a housing finance corporation under the provisions of the Texas Housing Finance Corporation Act has been filed with the City Council of the City of Corpus Christi by at least three individuals, each of whom is a citizen of the State of Texas, of the age of 18 years or more and residents of the City; Now, Therefore BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI TEXAS: Section 1. That the City Council hereby finds and determines that it is wise, expedient, necessary, and advisable that a corporation shall operate in the City organized to comply with the provisions of the Texas Housing Finance Corporation Act. Section 2. That the City Council hereby approves the proposed form of the Restated Articles of Incorporation of the Corpus Christi Housing Improvement Corporation, a copy of which is attachedhereto as "Exhibit A", and hereby grants authority for the existence of the corporation under the provisions of the Texas Housing Finance Corporation Act. Section 3. That it is hereby officially found and determined that an emergency and urgent public necessity exists which requires the adoption of this Resolution at the earliest practicable date, such emergency being that the adoption of this Resolution is necessary for the existence of a housing finance corporation under the Texas Housing Finance Corporation Act; and that the proceeds from the issuance of such corporation's bonds are needed as soon as possible and without delay for necessary and urgently needed residential housing for person of low and moderate income within the City; that such emergency requires the suspension of the Charter rule that no ordinance or resolution shall be passed finally on the date of its intro- duction and that such ordinance or resolution shall be read at three several 15111 lICROFILM�9'f LAl1G27W80 meetings of the City Council, and the Mayor having declared that such emergency and necessity exist, having requested the Charter rule be suspended and that this resolution be passed finally on the date of its introduction and take effect and be in full force and effect from and after its passage; IT IS ACCORDINGLY SO RESOLVED, this the /.2- day of September, 1979. ATTEST: APPROVED: _ . AY OF SEPTEMBER, 1979: J. BRUCE AYCOCK, CITY ATTORNEY By /-•- Ass;rtant City Attorney ;�, MAYOR HE CI.OF CORPUS CHRISTI, TEXAS RESTATED ARTICLES OF INCORPORATION (with amendment) OF CORPUS CHRISTI HOUSING IMPROVEMENT CORPORATION THE STATE OF TEXAS d COUNTY OF NUECES 1. The Corpus Christi Housing Improvement Corporation, pursuant to the provisions of Article 4.06 of the Texas Non -Profit Corporation Act, hereby adopts Restated Articles of Incorporation which accurately copy the Articles of Incorporation and all amendments thereto that are in effect to date and as further amended by such Restated Articles of Incorporation as hereinafter set forth and which contain no other change in any provision thereof. - 2. The Articles of Incorporation of the corporation are amended by the Restated Articles of Incorporation as follows: Article Two of the Articles of Incorporation is hereby amended so as to read as follows: The corporation is a public non-profit corporation. Article Four of the Articles of Incorporation is hereby amended so as to read as follows: The corporation is organized exclusively for the purpose of benefiting and accomplishing public purposes of, and on behalf of, the City, by financing the cost of residential ownership and development that will provide decent, safe and sanitary housing for residents of the City at prices they can afford. It has been determined and declared by the Legislature of the State of Texas that such residential 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 employment; (c) provide for efficient and well-planned urban growth and development including the elimination and prevention of potential urban blight and the proper coordination of industrial facilities with public services, mass transportation and residential development; (d) assist per- sons of low and moderate income in acquiring and owning decent, safe and sanitary housing which they can afford; and (e) preserve and increase ad valorem tax basis of local government units; and the foregoing have been determined and declared by the Legislature of the State•of Texas to lessen the burden of government and to be public purposes and functions. Article Nine of the Articles of Incorporation is hereby amended so as to read as follows: The number of Directors constituting the Board of Directors is seven (7) and the names and addresses of the persons who are to serve as Directors until their successors are designated are as follows: NAMES ADDRESSES Luther Jones David Diaz Edward L. Sample Betty N. Turner Cliff Zarsky Dr. Jack Best Jack K. Dumphy 6126 Boca Raton, Corpus Christi, Texas 3741 Liberty, Corpus Christi, Texas 1437 Casa de Oro, Corpus Christi, Texas 4466 Ocean Drive, Corpus Christi, Texas 5202 Wooldridge, Corpus Christi, Texas 225 Bayshore, Corpus Christi, Texas 211 Ohio, Corpus Christi, Texas Each Director resides within the City. Article Ten of the Articles of Incorporation is hereby amended so as to read as follows: The names and addresses of the incorporators are: NAMES ADDRESSES Jason Luby 9847 Daisy Drive, Corpus Christi, Texas Dr. Bill Tipton 5314 Everhart, Corpus Christi, Texas Eduardo de Ases P.O. Box 13, Corpus Christi, Texas Ruth Gill 1 Hewit Drive, Corpus Christi, Texas Bob Gulley 8225 Leopard, Corpus Christi, Texas Gabe Lozano, Sr. 4842 Dodd, Corpus Christi, Texas Edward L. Sample P.O. Box 9176, Corpus Christi, Texas Each Incorporator resides within the City. The Articles of Incorporation are hereby amended by adding hereto a new Article Eleven reading as follows: A resolution approving the form of these articles of incorporation has been duly adopted by the governing body of the City. The date of the adoption of such resolution is 1979. A copy of the resolution is attached hereto as Exhibit A. 3. Each such amendment made by these Restated Articles of Incorporation has been effected in conformity with the provisions of the Texas Non -Profit Cor- poration Act and such Restated Articles of Incorporation were duly adopted in the following manner: The Restated Articles of Incorporation as so amended were adopted at a meeting of the board of directors held on , 1979, and received the vote of a majority of the directors in office, there being no members having voting rights in respect thereof. - 2 - The Articles of Incorporation and all amendments and supplements thereto are hereby superseded by the following Restated Articles of Incor- poration which accurately copy the entire text thereof and as amended as above set forth: ARTICLE ONE The name of the corporation is Corpus Christi Housing Improvement Corporation. ARTICLE TWO The corporation is a public non-profit corporation. ARTICLE THREE The period of its duration is perpetual. ARTICLE FOUR The corporation is organized exclusively for the purpose of benefiting and accomplishing public purposes of, and on behalf of, the City, by financing the cost of residential ownership and development that will provide decent, safe and sanitary housing for residents of the City at prices they can afford. It has been determined and declared by the Legislature of the State of Texas that such residential 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 in- cluding the elimination and prevention of potential urban blight and the proper coordination of industrial facilities with public services, mass transportation and residential development; (d) assist persons of low and moderate income in acquiring and owning decent, safe and sanitary housing which they can afford; and (e) preserve and increase ad valorem tax bases of local governmental units; and the foregoing have been determined and declared by the Legislature of the State of Texas to lessen the burden of government and to be public purposes and functions. ARTICLE FIVE The affairs of the corporation will be managed by a Board of Directors - 3 - which will be no less than seven (7) in number, and consist of City Council members of the City of Corpus Christi or their successors. The corporation has no members. ARTICLE SIX No dividends shall ever be paid, and no part of the net earnings of the corporation shall be distributed to, or inure to the benefits of its Directors or officers, or other private person, association, or corporation, except in reasonable amounts for services rendered. ARTICLE SEVEN Upon dissolution of the corporation, all assets remaining other than those necessary to retire its debts shall be distributed to the City of Corpus Christi, Texas. ARTICLE EIGHT The street address of the corporation's initial registered office is the City Hall of Corpus Christi, 302 South Shoreline, Corpus Christi, Texas, and the name of its initial registered agent at such address is Jason Luby, Mayor, whose address is that above stated for the registered office of this corporation. ARTICLE NINE The number of Directors constituting the Board of Directors is seven (7) and the names and addresses of the persons who are to serve as Directors until their successors are designated are as follows: NAMES ADDRESSES Luther Jones David Diaz Edward L. Sample Betty N. Turner Cliff Zarsky Dr. Jack Best Jack K. Dumphy 6126 Boca Raton, Corpus Christi, Texas 3741 Liberty, Corpus Christi, Texas 1437 Casa de Oro, Corpus Christi, Texas 4466 Ocean Drive, Corpus Christi, Texas 5202 Wooldridge, Corpus Christi, Texas 225 Bayshore, Corpus Christi, Texas 211 Ohio, Corpus Christi, Texas Each Director resides within the City. - 4 - ARTICLE TEN The names and addresses of the incorporators are: NAMES ADDRESSES Jason Luby 9847 Daisy Drive, Corpus Christi, Texas Dr. Bill Tipton 5314 Everhart, Corpus Christi, Texas Eduardo de Ases P.O. Box 13, Corpus Christi, Texas Ruth Gill 1 Hewit Drive, Corpus Christi, Texas Bob Gulley 8225 Leopard, Corpus Christi, Texas Gabe Lozano, Sr. 4842 Dodd, Corpus Christi, Texas Edward L. Sample P.O. Box 9176, Corpus Christi, Texas Each Incorporator resides within the City. • ARTICLE ELEVEN A resolution approving the form of these articles of incorporation has been duly adopted by the governing body of the City. The date of the adoption of such resolution is , 1979. A copy of the resolu- tion is attached hereto as Exhibit A. Dated , 1979 Corpus Christi Housing Improvement Corporation By President By Secretary - 5 - Corpus Christi, /2 day o TO THE MEMBERS OF THE CITY COUNCIL Corpus Christi, Texas For the reasons set forth in -the emergency clause of the foregoing ordinance, a public emergency and imperative necessity exist for the suspension of the Charter rule or requirement that no ordinance or resolution shall be passed finally on the date it is introduced, and that such ordinance or resolution shall be read at three meetings of the City Council; I, therefore, request that you suspend said Charter rule or requirement and pass this ordinance finally on the date it is introduced, or at the present meeting of the City Council. Respectfully, MAYOR E CI OF CORPUS CHRISTI, TEXAS The Charter rule was suspended by the following vote: Luther Jones Edward L. Sample Dr. Jack Best David Diaz Jack K. Dumphy Betty N. Turner Cliff Zarsky The above ordinance was pass :'J by the following vote: Luther Jones Edward L. Sample Dr. Jack Best David Diaz Jack K. Dumphy Betty N. Turner Cliff Zarsky 15111