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P~OM RICHARD M. ANDERSON RESOLUTION NO. 97-031 WI,[ERE.&S, thc Northc~t Texas Housing Finance Corl~rafiofi f~e "Corporati0r¢) is an fxbdng joint housing fly. anco corporalion created in accordance with [he Texas Housing Finance Corporatior~ Am, ~s am*haled, Chapter 3~. Local Gov~ent C~e (th~ 'AcI'), on ~half o[ rh~ courages of Bowie, ~s. Delta, Fra~in, Hopki~. ~mar, Morris, Red River, and Tiros. Texas (the "Sponsoring Counties'), for thc pu~osfs o~ providing a means of financing ~he costs of rasid~ntlal own~i~ and d~veI~m,m tha~ will provid~ dfc*m, safe, and sanirary housing for p~rsom of Iow an~ moderate income a~ prices ~ey can affordl and, WI'IE;REAS, me Corporaiion imends to issue its bonds entitled 'Northeast Texas Housing Finance Co~oration GNMA/FH~C Colla~rallz~ Home Mortgage Revenue Bonds, Series 1997" (the "Bonds') for ~e pu~ose of providing fi~ncing for ho~ mo~gage loam to eligible boxcars for ~e purchase of quali~g single ~ily ~side~s wi~in the 5~moring Coun w'br~R.EA.~, in ac¢or&at~re with '%priori 394.005 Of the Act, ~e Co~omtion musI receive th~appmval of each municipality wi~in its jurisdiction which has mor~ than 20,~ i~abitams in ord*r for Ih~ proceeds of ~e Bonds t0 bo used to make home mortgage loans wilhin ~undari~$ of such municipality; an~, WHEREAS, it is hereby determined that il/s in [he b~s[ interests of ~e citizen~ of b~e Ci~ of~Hs [o approve ~e ~ing of home mo~gage loa~ wi~ ~e Ci~y of Paris from ~he proceeds of ~* Bonds; and, WHEREAS, this meeting is open lo the public as required by law, and public nmice of the time, place, end purpose of this m*edng was given as requi~d by the Texas Open Meetings Act: NOW, TI.-I'EREFORE, ~BE Fi' R.~SOLVI~D BYTHE CITY COUNCIL OF THE CITY OF PARIS: The findings and dectarationa conlained in the recitals of zhis Resolution are incorporated herein as pan of this R~solutiou. The City Council cf the City of Paris hereby authorizes and approves thc application of th= Act to the proper~y located within the City of Paris in accordance with T~xas L~al Gove~nt Code. Section 394.~5. and authorizes use of the pr~eeds of~e Bonds to fi~ce home mortgages for homes lo.ted within ~e City of Paris. All resolutions and orders, or parts thereof, in conflict with this Resolulion are hereby repealed to Ge extent of such conflict. 4. This Rfse'ladon shall take effect immedialely from and after irs adoption. PASSED AND ADOPT'ED rh~s 7th day ~f April, 1997, Eric S_ Clifford. Mayor Mattie Cunningham, City Cierl~ i TOTAL P.05