HomeMy WebLinkAbout020271 RES - 04/12/1988A RESOLUTION
ASSIGNING THE AUTHORITY FOR THE CORPUS CHRISTI HOUSING
FINANCE CORPORATION TO ISSUE BONDS TO PROVIDE FINANCING FOR
HOME MORTGAGES IN 1988, BASED UPON ITS POPULATION, TO THE
COUNTY OF NUECES.
WHEREAS, the City of Corpus Christi, Texas, a "local government" under
the Texas Housing Finance Corporations Act (Chapter 394 of the Local Government
Code) authorized the creation of the Corpus Christi Housing Finance Corporation
pursuant to said Act; and
WHEREAS, the County of Nueces, Texas, also a "local government" under
said Act authorized the creation of the Nueces County Finance Corporation
pursuant to said Act; and
WHEREAS, the jurisdictions of the City of Corpus Christi, Texas, and
the County of Nueces, Texas, overlap, and the population of the City of Corpus
Christi, Texas, being the smaller local governmental unit, as determined in the
most recent federal census is 232,134; and
WHEREAS, the City of Corpus Christi, Texas, desires to assign its
authority to issue bonds, based upon its population, to the County of Nueces,
Texas, for the calendar year 1988;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CORPUS CHRISTI, TEXAS:
SECTION 1. That the City of Corpus Christi Texas, acting pursuant to
Article 5190.9a, Vernon's Annotated Texas Civil Statutes, hereby assigns its
authority to issue bonds, based upon its population, to the County of Nueces,
Texas, for the calendar year 1988. This assignment shall only be used by the
County of Nueces, Texas, acting through the Nueces County Housing Finance
Corporation, to issue mortgage credit certificates to qualified persons residing
within said County, without allocation or restriction based upon whether or not
such persons reside within the city limits of the City of Corpus Christi, Texas.
SECTION 2. That a certified copy of this Resolution shall be provided
to the Texas Department of Commerce to evidence this assignment, and the City
Manager, or Assistant City Manager, is hereby authorized to execute and deliver
any other documents affecting such assignment as may reasonably be required by
the Texas Department of Commerce or the parties to the transaction contemplated
herein.
HAL GEORGE, CITY ATTORNEY
MANOR
THE CITY OF CORPUS CHRISTI, TEXAS
, 19 bol
20271 Mâ–ºCROf1I.MED
Corpus Christi, Te
/31/4111 day of
The above resolution was passed by
Betty N. Turner
David Berlanga, Sr.
Leo Guerrero
Clif Moss
Bill Pruet
Mary Rhodes
Frank Schwing, Jr.
Mary Pat Slavik
Linda Strong
99.066.01
the
as
following vote:
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03.61 nit
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20271
198 7