Res 115-2022 Reappointmenting Michael Smith Board of Directors of the Nortex Housing Finance Corporation 09/20/2022 Resolution No. 115-2022
Resolution of the City of Wichita Falls authorizing and approving the
reappointments of individuals to the Board of Directors of the Nortex
Housing Finance Corporation
WHEREAS, pursuant to the Texas Housing Finance Corporation Act, Chapter 394,
Texas Local Government Code, as amended, the Texas counties of Archer, Baylor, Clay,
Cottle, Foard, Hardeman, Jack, Montague, Wichita, Wilbarger, and Young, Texas
(collectively, the "Sponsoring Entities") have formed a joint housing finance corporation
named the Nortex Housing Finance Corporation (the "Corporation") to provide a means
of financing the cost of residential ownership and development that will provide decent,
safe and sanitary housing for persons and families of low and moderate income; and
WHEREAS, the City of Wichita Falls is a member of the Corporation and has
authorized the Corporation to act on its behalf and on behalf of the other Sponsoring
Entities for the purposes set forth in the previous paragraph; and
WHEREAS, in accordance with the Articles of Incorporation and the Bylaws of the
Corporation, a majority of the Sponsoring Entities must approve the appointment and/or
reappointment of members of the Board of Directors of the Corporation; and
WHEREAS, in accordance with the Articles of Incorporation and the Bylaws of the
Corporation, the City of Wichita Falls together with the Sponsoring Entities desires to
appoint/reappoint existing members of the Board of Directors of the Corporation upon
resignation or expiration of their current terms.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
Section 1. Board of Directors. That the following reappointments for the Board of
Directors of the Corporation and the length of the term thereof are hereby authorized and
approved;
DIRECTOR TERM EXPIRES
Mr. Michael Smith Reappointment August 1, 2027
Section 2. Effective Date. That this Resolution shall be in full force and effect from
and upon its adoption.
PASSED AND APPROVED this 20th day of September 2022.
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MAYOR
ATTEST:
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ity Clerk