Res 068-2011 8/2/2011Resolution 68 -2011
Resolution Authorizing And Approving The Appointment And
Reappointment Of Individuals To The Board Of Directors Of The
Nortex Housing Finance Corporation.
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 previous 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 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 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
Robert Chilton New Appointee August 1, 2016
PASSED AND APPROVED this the 2nd day of August, 2011.
MAYOR
ATTEST:
City Clerk