HomeMy WebLinkAboutResolution 3014A RESOLUTION
NO ~ ~
GRANTING APPROVAL TO TARRANT COUNTY HOUSING FINANCE
CORPORATION FOR THE USE OF THE PROCEEDS OF ITS SERIES 2002 SINGLE
FAMILY MORTGAGE REVENUE BONDS TO FINANCE HOME MORTGAGES
FOR SINGLE FAMILY HOMES LOCATED WITHIN THE CITY AND PROVIDING
AN EFFECTIVE DATE
WHEREAS pursuant to the Texas Housing Finance Corporation Act, Chapter 394 Local
Government Code, V T C.A. (the Act"), the creation of the Tarrant County Housing Finance
Corporation (the 'Corporation'), was approved by resolution of the Commissioners Court of Tarrant
County Texas (the 'County"), adopted on the 14th day of Apnl, 1980 to provide a means of financing
the cost of residential ownership and development that will provide decent, safe and sanitary housing for
residents of the County at pnces they can afford, and
WHEREAS m accordance with the Act the Corporation is not permitted to provide financing of
home mortgages for homes which are located within a municipality with more than 20 000 inhabitants
as determined by the Corporation's rules, resolutions relating to the issuance of bonds, or financing
documents relating to such issuance, unless the governing body of the municipality approves the
application of the Act to the property located wrthm the mumcipalrty and
WHEREAS the Board of Directors of the Corporation has requested the approval of the City
Council of the City of Fort Worth, Texas (the 'City") to provide financing for home mortgages for
homes within the City with the proceeds of the issuance of the Corporation's proposed Series 2002
Single Family Mortgage Revenue Bonds (the 'Bonds"),
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH, TEXAS
Section 1 That the preambles to this Resolution are hereby adopted m their entirety and
incorporated herein as though set forth m full herein.
Section 2 The City Council of the City of Fort Worth hereby approves the application of
the Act to the property within the City of Fort Worth and grants its approval to
the Corporation for the use of proceeds of the Bonds to finance home mortgages
for single family homes located wrthm the City
Section 3 This Resolution shall take effect immediately from and after its adoption.
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Adopted this
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day of
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ATTEST
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By,,. ,,
Gloria -arson;-C~t'~t ecretary
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APPROVED AS TO FORM.
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