Laserfiche WebLink
<br />178 <br /> <br />RESOLUTION 1999-..l..S-l-R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING RESTATED AND <br />AMENDED ARTICLES OF INCORPORATION OF THE <br />CAPITAL AREA HOUSING FINANCE CORPORATION; AND <br />DECLARING AN EFFECTIVE DATE. <br /> <br />RECITALS: <br /> <br />1. The Capital Area Housing Finance Corporation (the "Corporation") was <br />incorporated on October 20, 1981, and the City of San Marcos, Texas, is a sponsoring <br />local government of the Corporation. <br /> <br />2. The Board of Directors of the Corporation has recommended to the City <br />Council that the Corporation's Articles of Incorporation be restated and amended to <br />lengthen the terms of the Corporation's directors to four years and to stagger the directors' <br />terms so that one half of the directors are appointed every two years. <br /> <br />3. Amendment and reinstatement of the Corporation's Articles of Incorporation <br />are authorized by Section 394.016 of the Local Government Code and article 1396-4.06 <br />of the Nonprofit Corporation Act. <br /> <br />4. An exact copy of the Corporation's Restated Articles of Incorporation (the <br />Restated Articles"), as amended and recommended by the Board of Directors, is attached <br />to this Resolution. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: <br /> <br />PART 1. The City Council finds that the Restated Articles are wise, expedient, <br />necessary, or advisable. <br /> <br />PART 2. The City Council approves the form of the Restated Articles and <br />authorizes the Board of Directors to adopt the Restated Articles, and file them with the <br />Secretary of State. <br /> <br />PART 3. This Resolution shall be in full force and effect from and after its passage. <br /> <br />ADOPTED this 9th day of <br /> <br />August ,1999. <br />. <br /> <br /> <br />z:JM~ <br /> <br />Ed Mihalkanin <br />Mayor Pro-Tern <br /> <br />A~S~: d /1\f ) <br />ifa~::J;, 1/~ . <br /> <br />Janis K. Womack <br />City Secretary <br />