HomeMy WebLinkAboutResolution 653 Resolut10 �SOLU'ION FILE NO. .3
APPROVING FORMATION 'OF FORT WORITI
HOUSING FINANCE CORPORATION
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 Fort North,' Texas, by 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 FORT WORTH, TEXAS :
Section 1. That, the City Council of the- City of Fort Worth
found and determined, and hereby finds and determines , that it is
wise, expedient, necessary, and advisable that the corporation be
formed.
Section 2. That, the City Council of the City of Fort Wor"th
hereby approves the form of articles of incorporation proposed to
be used in organizing the corporation, a copy of which is attached
hereto as "Exhibit A," and hereby grants authority for the incorpor-
ation of the corporation.
Section 3. That, the City Council of the City of Fort Worth
hereby designates the Corporation for purposes of subsection (d) (5)
of Section 4 of H.R. 5741 as reported by the House Ways and Means
Committee of the United States House of Representatives .
Section 4. That it i.s hereby officially found and determined
that a case of emergency -or 'urgent public necessity exists which
requires the holding of- the meeting at which this Resolution is
adopted, such -emergency being that the adoption of this Resolution,
is necessary for the incorporation of a housing finance corporation
under the "Texas Housing Finance Corporations Act" ; that the
proceeds from the issuance of such corporation' s bonds are- needed, as
soon as possible and without delay, for necessary acid urgently *N,.
needed residential housing for persons .of low and moderate income
within the City; that said meeting 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. St. art.
6252-17, as amended. •
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Section 5. All Ordinances and Resolutions and parts thereof in
conflict herewith are hereby expressly repealed insofar as they con-
flict herewith.
Section 6 . That this Resolution shall take effect immediately
from and after its adoption and publication in accordance with the
law, and it is accordingly Ifo r.e. olved.
CITY OF FORT WORTH