Res 187-87 10/20/1987RESOLUTION NO. /P- 1/7
A RESOLUTION AUTHORIZING THE CITY MANAGER TO APPLY
TO THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
FOR PARTICIPATION IN THE SECTION 312 LOAN PROGRAM
AND TO EXECUTE THE REQUIRED CONTRACTS AND AGREEMENTS.
Whereas, The City of Wichita Falls has an approved Housing
Assistance Plan that has defined the need to retain, improve and
rehabilitate the existing housing stock within the city; and
Whereas, Under Section 312 of the Housing Act of 1964 the
federal goverment makes below market interest rate rehabilitation
loan funds available to lower income persons for units within
selected portions of the areas approved for the city's Community
Development Block Grant (CDBG) activities; and
Whereas, it is desirable and mutally beneficial for the city
to enter into agreements with the federal government to administer
this program
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
SECTION 1. The City Manager of Wichita Falls is hereby
authorized and directed to execute all agreements, certifications
and contracts required by the Department of Housing and Urban
Development for participation in the Section 312 Loan Program.
SECTION 2. The City of Wichita Falls will comply with all
relevant laws, regulations and policies in the operation of the
Section 312 Loan Program.
SECTION 3. The administrative responsibility and authority to
recommend the approval of loans to HUD rests with the City Manager
and in turn to such representives as may be delegated by him.
PASSED AND APPROVED THIS t/U DAY OF I , 987.
Jai
fade
MAYOR
ATTEST:
CITY CLERK