Res 089-2010 8/3/2010 RESOLUTION NO. 89-2010
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 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 inembers 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:
The following appointment and reappointment for the Board of Directors of the
Corporation and the length of the term thereof are hereby authorized and approved:
Director Current Newly Reappointed
Term Ex ires Term Ex ires
Michael Smith New A ointee Au ust 1, 2012
Paul W lie Au ust 1, 2010 Au ust 1, 2015
PASSED AND APPROVED this the 3� day of August, 2010.
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MAYOR
ATTEST:
y Clerk