Res 1981-054 - Laserfiche WebLink

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APPLICATION FOR APPROVAL OF THE CREATION OF CAPITAL AREA HOUSING FINANCE CORPORATION THE STATE OF TEXAS CITY OF SAN MARCOS TO THE GOVERNING BODY OF SAN MARCOS, TEXAS: The undersigned (herein, the "Applicants"), acting pur- suant to the provisions of Section 4 of the Texas Housing Finance Corporations Act, Article 12691-7, Vernon's Anno- tated Texas Civil Statutes, as amender (the "Act"), do hereby respectfully request the governing body (the "Governing Body") of San Marcos, Texas (the "City"), to approve and authorize the creation of a public non-profit corporation under the Act to be known as Capital Area Hous- ing Finance Corporation (the "Corporation"). In support of such request, the Applicants do hereby declare and represent as follows: (1) That each of the Applicants is at least eighteen (18) years of age, a citizen of the State of Texas and a resident of the City; (2) That the Corporation will be organized and operated solely for the public purpose of providing financing for residential ownership and development that will provide decent, safe and sanitary housing for persons of low and moderate income; and (3) That the Corporation shall have and possess all powers conferred by the laws of the State of Texas on public non-profit corporations created under the kct. The Applicants hereby further request the Governing Body of the City to approve the articles of incorporation of the Corporation in substantially the form attached hereto as Exhibit "A" (the "Articles of Incorporation"). The Applicants hereby further request the Governing Body of the City to appoint Jack A. Griesenbeck, Kent L. Smith, Edward M. Yturri, B. R. Wranitzky, Mrs. Tess Norris, Leonard Scott, Fritz Lobpries, Clarence C. Tatsch, and Wesley Foust as the members of the initial Board of Directors of the Corporation. WHEREFORE, the Applicants pray that this Application be properly filed with the Governing Body of the City; that the Governing Body of the City, by appropriate resolution duly adopted, find and determine that it is wise, expedient, necessary and advisable that the Corporation be formed; that the Governing Body of the City approve the Articles of Incorporation; and that the Governing Body of the City appoint the above-named persons as the members of the initial Board of Directors of the Corporation; all under and in accordance with the provisions of the Act.