Res 075-2016 7/19/2016
Resolution No. _75-2016__
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 members of the Board of Direct ors 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 Dir ectors 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 for the Board of Directors of the Corporation and t he
length of the term thereof is hereby authorized and approved:
DIRECTOR CURRENT/NEW APPT. TERM EXPIRATION
Jimmie Lee New Appointment August 1, 2021
PASSED AND APPROVED this the 19th day of July, 2016.
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M A Y O R
ATTEST:
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City Clerk