Res 1979-081 - Laserfiche WebLink

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I I I FINANCING AGREEMENT December 31,1979 Honorable President and Board of Directors San Marcos Housing Finance Corporation San Marcos, Texas Gentlemen: 1. Pursuant to House Bill 1876, the "Texas Housing Finance Coporations Act" (the "Act") and your subsequent Articles of Incorporation, authority has been vested in your Board of Di rectors (the "Board") to effectuate the fi nanci ng of single family mortgages for persons of low and moderate income. 2. Under the terms of this Financing Agreement (the "Agreement"), First Southwest Company woul d serve as underwriter (the "Underwriter") to the San Marcos Housing Finance Corporation (the "Corporation") to aid in the com- pletion of a successful sale of Sin9le Family Mortgage Revenue Bonds (the "Bonds"). 3. We agree to direct and coordinate the entire program of financing being contemplated. 4. We understand you have retained firm of attorneys, as your local counsel ("General Counsel"). 5. We understand you have retained McCall, Parkhurst & Horton, Dallas, Texas, a , a firm of attorneys, as your bond counsel ("Bond Counsel"). 6. As Underwriter, we agree to perform such duties as, in our judgment, may be necessary or advisable, including, but not limited to, the following: a. We will assist the Corporation through its Board and staff in developing the parameters of a mortgage revenue bond program which would take into considera- tion the hOUSing needs of the area. b. We will assist the Administrator in developing the terms of the Mortgage Loan Purchase Agreement, the Mortgage Loan Service Agreement and such other necessary and required documents. c. We will attend any public hearing called for the purpose of planning and discussing the mortgage loan program and the Bonds, and will assist the Corpora- tion in presenting information at such meetings. d. We will work with the Administrator and any consultants to the Corpora- tion in determining required mortgage rate ceilings to be set by the Board.