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<br />39 <br /> <br />RESOLUTION NO. 1981-2R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS, TEXAS REPEALING THOSE PORTIONS <br />OF RESOLUTIONS 1978-33-R and 1979-15-R WHICH <br />APPROVED THE BY-LAWS OF THE CENTRAL TEXAS <br />HIGHER EDUCATION AUTHORITY, INC., AND DECLAR- <br />ING AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City Council of the City of San Marcos, Texas <br />on February 14, 1977, in Resolution 1977-9-R, requested that <br />eleven named persons establish, re-establish or reorganize <br />a non-profit corporation with the power to operate and finance <br />a student loan program; and, <br /> <br />WHEREAS, said Council adopted Resolution 1978-33-R on March <br />27, 1978 which in Section 3(a) approved the By-Laws of the non- <br />profit corporation, known as the Central Texas Higher Education <br />Authority, set up pursuant to Resolution 1977-9-R; and, <br /> <br />WHEREAS, said Council adopted Resolution 1979-15-R on March <br />5, 1979 which in Section 3(a) approved the By-Laws of the Corpora- <br />tion, as adopted by the Board of Directors; and, <br /> <br />WHEREAS, Resolution 1978-33-R and 1979-15-R request that the <br />Central Texas Higher Education Authority, Inc. exercise the powers <br />enumerated and provided in Section 53.47 of the Texas Education <br />Code; and, <br /> <br />WHEREAS, Section 53.47(e) of the Texas Education Code states, <br />in pertinent part: <br /> <br />. ..If the corporation agrees to exercise such powers, <br />the directors of such corporation shall thereafter <br />be appointed by and be subject to removal by the <br />governing body of the home-rule city or cities...; <br /> <br />WHEREAS, the By-Laws of the Central Texas Higher Education <br />Authority, Inc., as approved in Resolution 1978-33-R and 1979- <br />15-R, allow the governing body of San Marcos to appoint only those <br />persons nominated by the Authority; now, therefore, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. That Section 3(a) of Resolution 1978-33-R and <br />Section 3(a) of Resolution 1979-15-R are hereby repealed. <br /> <br />PART 2. That the Mayor of the City of San Marcos, be, and <br />he is hereby, directed to make written request to the President <br />of the Central Texas Higher Education Authority, Inc. that the <br />Authority submit amendeà By-Laws including a provision for <br />direct appointment of Directors by said Council, to said Council <br />for approval within sixty days of the effective date of this <br />resolution. <br /> <br />PART 3. That this resolution shall be in full force and <br />effect immediately from and after its passage. <br /> <br />ADOPTED this <br /> <br />12th day of <br /> <br />January ,19 81 . <br />1 <br />, <br />/ . <br />~A~~~1Y - <br />/Kènneth V. Kraus <br />~yor <br /> <br /> <br />ATTEST: <br /> <br /> <br />Sharyl Werner <br />Ci ty Secretary <br />