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<br />RESOLUTION NO. 97 -032
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<br />WHEREAS, the Texas Department of Housing and Community Affairs provides funding under the
<br />Texas Home Investment Partnership Program for funds to carry out the reduction ofloan fees and down
<br />payments for first time home buyers; and,
<br />
<br />WHEREAS, the City Council of the City of Paris desires to develop a viable urban community,
<br />including decent housing and a suitable living environment and expanding economic opportunities, principally
<br />for persons oflow to moderate income; and,
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<br />WHEREAS. certain conditions exist which represent a threat to public health and safety; and,
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<br />WHEREAS. it is necessary and in the best interests of the City of Paris to apply for funding under the
<br />1997 Texas Home Investment Partnership Program;
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<br />WHEREAS, the City Council of the City of Paris is desirous of filing a Texas Home Investment
<br />Partnership Program application for the Homebuyers Assistance Fund with the Texas Department of Housing
<br />and Community Affairs for funds to carry out the reduction of loan fees and down payments for this first time
<br />home buyers program, in the amount of$250,00000, with $31,25000 to be provided by the City of Paris in
<br />the form oflocal matching funds; NOW, THEREFORE,
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<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS:
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<br />I, That a Texas Home Investment Partnership Program application for the Home buyer
<br />Assistance Fund be, and is hereby, authorized to be filed, on behalf of the City of Paris, with
<br />the Texas Department of Housing and Community Affairs.
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<br />2, That the City of Paris' application be placed in competition for funding under the] 997 Texas
<br />Home Investment Partnership Program Fund,
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<br />3, That the application be for $250,000 of grant funds to carry out the reduction ofloan fees and
<br />down payments for this first time home buyers program, and that the City of Paris will commit
<br />$3] ,250.00 in cash as it's local match,
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<br />4, That Michael E, Malone, City Manager of the City of Paris. be, and he is hereby, appointed as
<br />the Authorized Official of said project and is authorized and directed to execute, on behalf of
<br />the City of Paris, the application for the Texas Home Investment Partnership Program Fund
<br />in the form attached hereto as Exhibit A, and to act in all matters in connection with this
<br />application and the City of Paris' participation in the Texas Home Investment Partnership
<br />Program
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<br />5. That Thomas E, Haynes, Project Coordinator, be, and he is hereby, appointed as Project
<br />Director and is authorized to execute and deliver, on behalf of the City of Paris, all reports,
<br />communications, assurances, and documents necessary for the completion of said project
<br />
<br />6, That W E, Anderson, Director of Finance be, and he is hereby, authorized and directed to
<br />serve as the Financial Officer for said project and to receive and distribute funds for purposes
<br />of the Texas Home Investment Partnership Program
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<br />PASSED AND ADOPTED this 7th day of April, 1997,
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