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RESOLUTION NO. 97 -032 WHEREAS, the 'Texas Department of Housing and Community Affairs provides funding under the Texas .Home Investment Partnership Program for funds to carry out the reduction of loan fees and down payments for first time home buyers; and, WHEREAS, the City Council of the City of Paris desires to develop a viable urban community, including decent housing and a suitable living environment and expanding economic opportunities, principally for persons of low to moderate income; and, WHEREAS, certain conditions exist which represent a threat to public health and safety; and, WHEREAS, it is necessary and in the best interests of the City of Paris to apply for funding under the 1997 Texas Home Investment Partnership Program; WHEREAS, the City C)uiicil of the City of Paris is desirous of fling a Texas Home Investment Partnership Program application ii)r the Homebuyers Assistance Fund with the Texas Department of Housing and Community Affairs for funds to carry out the reduction of loan fees and down payments for this first time home buyers program, in the amount of $250,000.00, with $31,250.00 to be provided by the City of Paris in the form of local matching funds; NOW, THEREFORE, BE IT RESOLVED BY THE CiTY COUNCIL OF THE CITY OF PARIS: That a Texas Home Investment Partnership Program application for the Home b! ryer Assistance Fund be, and is hereby, authorized to be filed, on behalf of the City of Paris, %vith the Texas Department of Housing and Community Affairs. 2. That the City of Paris' application be placed in competition for funding under the 1997 Texas Home Investment Partnership Program Fund. 3. That the application be for $250,000 of grant funds to carry out the reduction of loan fees and down payments for this first time home buyers program, and that the City of Paris will commit $31,250.00 in cash as it's local match. 4. That Michael E. Malone, City Manager of the City of Paris, be, and he is hereby, appointed as the Authorized Official of said project and is authorized and directed to execute, on behalf of the City of Paris, the application for the Texas Home Investment Partnership Program Fund in the form attached hereto as Exhibit A, and to act in all matters in connection with this application and the City of Paris' participation in the Texas Home Investment Partnership Program. 5. That Thomas E. Baynes, Project Coordinator, be, and lie is hereby, appointed as Project Director and is authorized to execute and deliver, on behalf of the City of Paris, all reports, communications, assurances, and documents necessary for the completion of said project. 6. That W. E. Anderson, .Director of Finance be, and he is hereby, authorized and directed to serve as the Financial Officer for said project and to receive and distribute funds for purposes of the Texas Home Investment Partnership Program, PASS ED AND ADOPTED this 7th day of April, 1997.1 Eric S. Clifford, Mayor ATTE ST: c�� Mattie Cunningham, City Cler APP 20VED� TO FORM: K. Haynes; Ci�Attorney