1997-119-RES WHEREAS, CITY COUNCIL DID HERETOFORE ON THE 7TH DAY OF APRIL 1997

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. . . .. RESOLUTION NO. 97-119 WHEREAS, the City Council of the City of Paris did heretofore, on the 7th day of April, 1997, in Resolution No, 97-032 authorize an application to be made to the Texas Department of Housing and Community Affairs for the Homebuyer Assistance Fund Grant under the Texas Home Investment Partnership Program; and, WHEREAS, the Texas Department of Housing and Community Affairs has issued its Agreement in connection with a Homebuyer Assistance Program Award, entitled, "Texas Department of Housing and Community Affairs Home Program Homebuyer Assistance Contract No. 537025" for the year beginning September I, 1997, ending August 31, 1999, in the total amount of $260,000,00 providing matching contribution of$2l,250,OO; and, WHEREAS, acceptance ofthe same and the executed contract must be received by the Texas Department of Housing and Community Affairs by the close of business on October 20, 1997; and, WHEREAS, it is deemed to be in the best interest of the citizens of Paris that the City of Paris accept said Agreement in connection with a Homebuyer Assistance Program Award for funds to carry out the reduction of loan fees and down payments for first time home buyers in the City of Paris; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the Homebuyer Assistance Fund Grant in the total amount of $260,000,00 providing matching contribution of$2l,250,OO be, and the same is hereby, accepted; and, BE IT FURTHER RESOLVED, that the City Manager of the City of Paris, Michael E, Malone, be, and he is hereby, authorized and directed to execute on behalf of the City of Paris, the "Texas Department of Housing and Community Affairs Home Program Home Buyer Assistance Contract #537025" in the form of Exhibit A, attached hereto, PASSED AND ADOPTED this 9th day of October, 1997, ~~ Eric S, Clifford, Mayor ATTEST: Mattie Cunningham, City Clerk ~ APPROVED AS TO FORM //