Res 2023-144R approving assignment of private activity bond authority to Texas Department of Housing and Community Affairs; and containing other provisions relating to the subject

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H. By resolution adopted on June 14, 2023, CAHFC authorized the filing of an Application for Reservation with the Bond Review Board in the maximum amount of$61,000,000 with respect to qualified mortgage bonds,and the Bond Review Board has issued or is expected to issue a reservation of "State Ceiling" in connection with such Application for Reservation (the "Reservation"). I. CAHFC has determined to(a) delegate to TDHCA CAHFC's authority to issue bonds or mortgage credit certificates ("MCCs") for the purposes specified above, pursuant to Section 394.032(e) of the Act, which provides that "a housing finance corporation may delegate to the Texas Department of Housing and Community Affairs the authority to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement, and disposal of home mortgages or residential developments,within and outside the jurisdiction of the housing finance corporation, including its authority to issue bonds for those purposes," and (b) assign the Reservation to TDHCA,pursuant to Section 1372.044 of the Texas Government Code. J. CAHFC was created by the Counties of Bastrop,Blanco, Burnet, Caldwell, Fayette, Hays, Lee, Llano and Williamson and the City of San Marcos (collectively, the "Sponsors") pursuant to the Act. K. As the governmental unit that created CAHFC, the Sponsors have approved the assignment of the Reservation to TDHCA in accordance with Section 1372.044 of the Texas Government Code. Now, THEREFORE, in consideration of the foregoing and the mutual representations, warranties,covenants and conditions contained herein,the parties hereto hereby agree as follows: Section 1. Assignment. CAHFC hereby assigns, conveys and transfers to TDHCA, to the full extent assignable under applicable law, all of CAHFC's right,title and interest in, to and under the Reservation (the "Assignment"), including without limitation, the right to file a carryforward designation request and to elect to use the Reservation to issue MCCs. The Assignment is irrevocable and applies only to the Reservation for the 2023 program year. Section 2. Consents. CAHFC agrees to obtain and deliver to TDHCA,such consents to the Assignment of the Reservation as may be required. . Section 3. Expenses. TDHCA shall be responsible for payment of all fees and expenses incurred from and after the date of this Agreement with respect to the Reservation,including any carryforward application fee and/or closing fees payable to the Bond Review Board; and TDHCA will pay all costs associated with the issuance of the bonds. Section 4. Agreement. In exchange for the Assignment,TDHCA agrees to originate in the geographic service area of CAHFC (a)mortgage loans that are eligible for pooling into mortgage certificates and purchase by the trustee for one or more series of tax-exempt bonds issued by TDHCA ("Pooled Loans"), and/or (b) My First Texas Home Combo Loans with MCCs ("Combo Loans," and referred to herein together with the Pooled Loans collectively as "CAHFC Loans"), until an aggregate amount of $61,000,000 of CAHFC Loans (accounting for -2-