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Section 4. That the City Manager be, and he hereby is, authorized and directed to <br />execute and deliver any and all instruments necessary to effectuate such grants and loans. <br />Section 5. That the City of Paris does hereby agree to provide a total of $18,000 in <br />funds from non-federal resources including waived fees, cash, the value of city lots donated <br />to the program to further affordable housing and other eligible match activities as match <br />for the grant being applied for. <br />Section 6. That the City of Paris does hereby agree to specify and utilize funds from <br />the City's accounts or through a bridge loan from a local bank in the amount of $80,000 to <br />provide a Cash Reserve designated for the proposed TDHCA award. These funds may be <br />used to pay program costs before receiving reimbursements from the State of Texas <br />HOME/ADDI Program. <br />Section 7. That should the amount of the grant award from TDHCA be for less than <br />$300,000, that the Cash Reserve and Match fund amounts designated for the proposed <br />TDHCA award be reduced proportionate to the amount of the TDHCA award. <br />Section B. That this resolution shall be effective immediately upon passage. <br />DULY PASSED AND APPROVED this 22nd day of March 2010. <br />ATTEST: <br />ice Ellis, City Clerk <br />APPROVED AS TO FORM: <br />W. Kent McIlya , ' Attorney <br />1 <br />/ <br />esse Ja s Freelen, Mayor <br />