Res 083-2014 7/15/2014
RESOLUTION NO. 83-2014
Resolution authorizing and approving appointment to the Board of
Directors of the Nortex Housing Finance Corporation for a Five -Year
Term to expire August 1, 2019
WHEREAS, pursuant to the Chapter 394 of the Texas Local Government Code,
the Texas Housing Finance Corporation Act, the counties of Archer, Baylor, Clay,
Cottle, Foard, Hardeman, Jack, Montague, Wichita, Wilbarger, and Young (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;
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 previou s paragraph;
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 Inc orporation 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 WICHITA
FALLS THAT:
The following appointment for the Board of Directors of the Nortex Housing
Finance Corporation and the length of the term thereof are hereby authorized and
approved:
CURRENT NEWLY REAPPOINTED
DIRECTOR TERM EXPIRES TERM EXPIRES
Gregory Ross August 1, 2014 August 1, 2019
PASSED AND APPROVED this the 15th day of July, 2014.
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M A Y O R
ATTEST:
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City Clerk