HomeMy WebLinkAbout15777 RES - 09/17/1980•
A RESOLUTION
GRANTING APPROVAL TO THE NUECES COUNTY HOUSING FINANCE
CORPORATION FOR THE USE OF PROCEEDS OF SINGLE FAMILY
MORTGAGE REVENUE BONDS FOR ACQUIRING HOME MORTGAGES
RELATED TO HOMES WITHIN THE CITY OF CORPUS CHRISTI;
AND DECLARING AN EMERGENCY.
WHEREAS, the creation of the Nueces County Housing Finance Corpora-
tion, (the "Corporation"), pursuant to the Texas Housing Finance Corporations
Act, Tex. Rev. Civ. Stat. Ann. art. 1269L-7, (the "Act"), was approved by resolu-
tion of the governing body of Nueces County, Texas, (the "County"), to provide
a means of financing the costs of residential ownership and development that will
provide decent, safe, and sanitary housing for residents of the County at prices
they can afford; and
WHEREAS, the Board of Directors of the Corporation has requested
the approval of the governing body of the City of Corpus Christi, Texas, as
required by the Act, to acquire home mortgages related to homes within the
City of Corpus Christi with the proceeds of a Series 1980 Single Family
Mortgage Revenue Bond Issue (the "Bonds"):
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS CHRISTI,
TEXAS:
That the City Council of the City of Corpus Christi hereby grants
its approval to the Corporation for use of proceeds of the Bonds for acquiring
home mortgages related to homes within the City of Corpus Christi, provided,
however, that the Bonds are sold on or before December 31, 1980;
That to indicate the City's approval of this program, a copy of
this resolution will be forwarded to the County Judge of the County;
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 issu-
ance of such corporation's bonds are needed as soon as possible and without delay
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for necessary and urgently needed residential housing for persons of low
and moderate income within the City; that such emergency requires the sus-
pension of the Charter rule that no ordinance or resolution shall be passed
finally on the date of its introduction and that such ordinance or resolution
shall be read at three several 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; that such urgent public necessity requires the holding of
the meeting at which this resolution shall be adopted; that said meetings
was open to the public as required by law; and that public notice of the time,
place, and purpose of said meeting was given as required by Vernon's Ann. Civ.
Stat. Art. 6252-17, as amended;
IT IS ACCORDINGLY SO RESOLVED, this the 17th day of September , 1980.
ATTEST:
v. / /�/ Ll�,, R r /p•�
C' y Secretary MAYiR
THE CITY OF CORPUS CHRISTI, TEXAS
APPROVED: qq
17 DAY OF c5 u� , 1980:
J. BRUCE AYCOCK, CITY ATTORNEY
By —
Assi ant City Attorney
Corpus Christi,
/7 dayo
, 19 JD
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
THE CI OF CORPUS CHRISTI, TEXAS
The Charter rule was suspen� by the following vote:
Luther Jones
Edward L. Sample
Dr. Jack Best /
David Diaz 1,
Jack K. Dumphy
Betty N. Turner 1
Cliff Zarsky .:
The above ordinance was pass
Luther Jones
Edward L. Sample
Dr. Jack Best
David Diaz
Jack K. Dumphy
Betty N. Turner
Cliff Zarsky
by the following vote:
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