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<br />100 <br /> <br />RESOLUTION 1998-16R <br /> <br />Approving Articles of Amendment to the Articles of <br />Incorporation of the capital Area Housing Finance <br />corporation <br /> <br />WHEREAS The Capital Area Housing Finance Corporation <br />was incorporated on October 20, 1981, and the City of San <br />Marcos, Texas, was an initial incorporator and is a <br />sponsoring local government of the Corporation; and <br /> <br />WHEREAS The Board of Directors of the Corporation has <br />recommended to the City Council that the Corporation's <br />Articles of Incorporation be amended to admit Burnet and Lee <br />Counties as sponsoring local governments of the Corporation <br />and to change the formula for distributing the Corporation's <br />net assets upon dissolution; and <br /> <br />WHEREAS Amendment of the Corporation's Articles of <br />Incorporation is authorized by Section 394.016 of the Local <br />Government Code; and <br /> <br />WHEREAS An exact copy of the Articles of Amendment to <br />the Corporation's Articles of Incorporation, as recommended <br />by the Board of Directors, is attached to this Resolution; <br />now, therefore, be it <br /> <br />RESOLVED by the City Council of the City of San Marcos, <br />Texas, Texas: <br /> <br />1. The City Council finds that the amendments of the <br />Articles of Incorporation of the Capital Area Housing <br />Finance Corporation, as recommended by the Corporation's <br />Board of Directors and attached to this ReSOlution, are <br />wise, expedient, necessary, or advisable; and <br /> <br />2. The City Council approves the form of the <br />amendments and authorizes the Board of Directors to adopt <br />the Articles of Amendment and file them with the Secretary <br />of State. <br /> <br />Adopted this 12th <br /> <br />day of January <br /> <br />, 19~. <br /> <br />I~~ ~,~ <br /> <br />Mayor <br /> <br />Attest: <br /> <br /> <br />[Seal] <br /> <br />[ <br />