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HomeMy WebLinkAbout6319-06-2026 - City Council - ResolutionA Resolution NO. 6319-06-2026 APPROVING AMENDMENTS TO THE BYLAWS OF THE FORT WORTH HOUSING FINANCE CORPORATION AND APPOINTING CHRIS JAMIESON TO THE BOARD OF DIRECTORS OF THE FORT WORTH HOUSING FINANCE CORPORATION WHEREAS, on December 18, 1979, the City Council adopted Resolution No. 653 approving the formation of the Fort Worth Housing Finance Corporation (the "Corporation") and approving the form of the Articles of Incorporation for the Corporation; and WHEREAS, the Corporation's Articles of Incorporation were filed with the Texas Secretary of State on December 27, 1979, and were thereafter amended in 1982 and1996; and WHEREAS, the City Council approved the Corporation's Bylaws ("Bylaws") which had been adopted by the Board of Directors of the Corporation (the " Board") at the Corporation' s organizational meeting held on January 22, 1980; and WHEREAS, the Board determined it was in the best interest of the Corporation to amend the Bylaws on June 3, 2008, February 7, 2012, September 26, 2017, and September 14, 2021 (collectively referred to as the "Prior Amendments"); WHEREAS, the City Council approved the Prior Amendments with the most recent approval occurring on October 19, 2021, in Resolution No. 5489-10-2021; WHEREAS, the Board determined it was in the best interest of the Corporation to further amend the Bylaws to increase administrative efficiency, and on August 26, 2025, the Board adopted the 2025 amendments to the Bylaws, a copy of which is attached hereto as Exhibit "A"; and WHEREAS, the City Council finds it necessary and desirable to approve the attached 2025 amendments to the Bylaws; and WHEREAS, the governing body of the Corporation is appointed by the City Council and traditionally has been comprised of all members of the City Council; WHEREAS, in May and June of 2025, Mattie Parker, Carlos Flores, Michael D. Crain, Charlie Lauersdorf, Deborah Peoples, Mia Hall, Macy Hill, Chirs Nettles, Elizabeth M. Beck, and Jeanette Martinez, were appointed as members of the Corporation's Board; WHEREAS, on May 12, 2026, Chris Jamieson was duly sworn in as a member of the City Council; and WHEREAS, the City Council wishes to appoint Chris Jamieson, who is qualified to serve as a director of the Corporation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: 1. That the attached 2025 amendments to the Bylaws for the Fort Worth Housing Finance Corporation are hereby approved. 2. That it is hereby officially found and determined that this Resolution was adopted in a meeting open to the public and that notice of the time, place and purpose of such meeting was given in accordance with applicable law. 3. That the amendments to the Bylaws have an effective date of August 26, 2025. 4. That Chris Jamieson is hereby appointed to the Fort Worth Housing Finance Corporation with a term to expire in accordance with the Bylaws. Adopted this 9th day of June 2025. ATTEST: By: Jannette S. Goodall, City Secretary ,d S0 00000000000 0?� �0 o��d �vo °Z� ° ° d N4 SEX 44m EXHIBIT "A" 2025 Amendments to the Bylaws of the Fort Worth Housing Finance Corporation, as Amended and Restated on June 3, 2008 and Amended on February 7, 2012, September 26, 2017, and September 14, 2021 The following sections of the Bylaws of the Fort Worth Housing Finance Corporation shall be amended to be and read as follows: Section 1.02. Principal Office is amended such that the principal office of the Corporation shall be located at 100 Fort Worth Trail, Fort Worth, Texas 76102. Section 2.01 (a) is amended such at the first sentence now reads: "The property and affairs of the Corporation shall be managed and controlled by a board of directors (referred to herein as the "Board" or "Board of Directors") which shall be composed of eleven (11) persons, or such other number of persons as the City Council of the City from time to time shall determine, appointed by, and whose terms of office shall be fixed by, the City Council of the City." Sections 2.01 (b) and 2.02 (c) are deleted. Section 4.01 (a) is amended to now read as: "The officers of the Corporation shall be a President, a Vice President, a Secretary, a Treasurer, and such other officers as the Board of Directors from time to time may elect or appoint. Officers shall be elected or appointed in each odd numbered year prior to October 1 st." Section 4.05 (a) is amended so that the last sentence now reads: "The City Secretary, or his or her designee, shall serve as Secretary of the Corporation." Section 4.05 (b) is amended to read: "The Secretary may appoint one or more persons to serve as an Assistant Secretary, which person need not be a Director." Section 4.06 (a) is amended so that it now reads as: "To the extent not otherwise provided by the Board, by rules or regulations, in resolutions relating to the issuance of bonds, or in any financing documents relating to such issuance, the Treasurer need not, be a Director, shall have custody of the funds and securities of the Corporation that come into his or her hands. When necessary or proper, he or she may endorse, on behalf of the Corporation, for collection, checks, notes and other obligations and shall deposit the same to the credit of the Corporation in such bank or banks or depositories as shall be designated in the manner prescribed by the Board of Directors; he or she may sign all receipts and vouchers for payment made to the Corporation, either alone or jointly with such other officer as is designated by the Board of Directors; whenever required by the Board of Directors, he or she shall render a statement of all transactions performed as Treasurer of the financial condition of the Corporation; he or she shall enter or cause to be entered regularly in the books of the Corporation to be kept by him for that purpose full and accurate accounts of all monies received and paid out on account of the Corporation; he or she shall perform all acts incident to the position of Treasurer subject to the control of the Board of Directors; he or she shall, if required by the Board of Directors, give such bond for the faithful discharge of his duties in such form as the Board of Directors may require. The City's Chief Financial Officer, or his or her designee, shall serve as Treasurer of the Corporation. Section 4.06 (b) is amended so that the first sentence now reads: "The Treasurer may appoint one or more persons to serve as an Assistant Treasurer." Section 4.07 (a)(5) is amended to so that it now reads as: "To attend and participate in all meetings and deliberations of the Board of Directors, provided however that the General Manager shall not possess the power to vote." Section 4.07(a)(7) is amended so that it now reads as: "To spend budgeted funds up to One Hundred Thousand Dollars ($100,000.00) without additional Board approval when the General Manager deems the expenditure necessary to perform the powers and duties stated herein or in a resolution approved by the Board. Any expenditure over One Hundred Thousand Dollars ($100,000.00) must be approved by the Board. In addition, any contract or other legal instrument for the sale, purchase or lease of real property or real property interests shall be approved by the Board prior to execution or acceptance, except that the General Manager may (i) pay up to Fifty Thousand Dollars ($50,000.00) for an option fee or deposit of earnest money with a Title Company or Independent Escrow agent on any land purchase agreement, and (ii) purchase property for up to Twenty Five Thousand Dollars ($25,000.00) for each parcel without the approval of the Board." Section 4.08 Compensation is amended so that the last sentence now reads: "The General Manager, Assistant General Manager, Treasurer and any Assistant Secretary or Assistant Treasurer shall not receive any salary from the Corporation for their performance of their duties, but the Corporation may budget and provide to the City funds to offset the costs of any City employees performing actions on behalf of the Corporation." Section 5.01 Fiscal Year is amended so that the section now reads: "The fiscal year of the Corporation shall begin on October 1 and end on the following September 30."