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<br />Area Housing Finance Corporation, San Marcos Housing Finance <br />Corporation shall not have the power to make or acqu~re home <br />mortgages to make loans to lending i.nsti tutions, the <br />proceeds of which will be used to make home mortgages or to <br />make loans. on residential developments; <br /> <br />NOW, THER.EFOR.E, BE IT R.ESOLVED BY THE GOVERNING BODY OF <br />THE CITY OF SAN VillR.COS, TEXAS: <br /> <br />Section 1. Articles of Amendment to the Articles of <br />Incorporation of San Marcos Housing Finance Corporation, in <br />the form attached hereto as Exhibit "A" (the "Articles of <br />Amendment"), and hereby approved for use and adoption by <br />San Marcos Housing Finance Corporation. <br /> <br />Section 2. That the Mayor and City Secretary of the <br />City are hereby authorized and directed to execute, attest <br />and verify the Articles of Amendment and to file the same <br />with the Secretary of State of the State of Texas. <br /> <br />Section 3. That the governing body of the City hereby <br />declares its understanding and intent that the adoption of <br />this R.esolution and the execution and filing of the Articles <br />of Amendment shall have no effect with respect to the <br />outstanding obligations of San Marcos Housing Finance <br />Corporation. <br /> <br />Section 4. That the governing body of the City has <br />considered evidence of the posting of notice of this meeting <br />and officially finds, determines, recites and declares that <br />a sufficient written notice of the date, place and hour of <br />this meeting and of the subject of this resolution \vas <br />posted for at least seventy-two hours before this meeting <br />was convened; that such notice was posted on a bulletin <br />board located at a place convenient to the public at City <br />Hall; that such place was readily accessible to the general <br />public at all times from the time of such posting until this <br />meeting was convened; and that this meeting has been open t~ <br />the public at all times during which this Resolution and the <br />sublect matter thereof has been discussed, considered and <br />for~ally acted upon; all as required by the Open Meetings <br />Law, Article 6252-17, Vernon's Annotated Texas Civil <br />Statutes, as amended. The governing body further ratifies, <br />approves and confirms such written notice and the contents <br />and posting thereof. <br /> <br />-2- <br />