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Presentation, discussion, and possible action to adopt a resolution regarding designating signature authority and superseding previous resolutions
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RECOMMENDED ACTION
recommendation
WHEREAS, the Texas Department of Housing and Community Affairs (the Department), a public and official governmental agency of the State of Texas, was created and organized pursuant to and in accordance with the provisions of Tex. Gov't Code, Chapter 2306 (the Code), as amended;
WHEREAS, the Code authorizes the Department, among other things: (a) to make and acquire and finance, and to enter into advance commitments to make and acquire and finance, mortgage loans and finance, participating interests therein, secured by mortgages on residential housing in the State of Texas (the State); (b) to issue its bonds, for the purpose of, among other things, obtaining funds to acquire or finance such mortgage loans, to establish necessary reserve funds and to pay administrative and other costs incurred in connection with the issuance of such bonds; and (c) to pledge all or any part of the revenues receipts or resources of the Department, including the revenues and receipts to be received by the Department from such single family mortgage loans of participating interests, and to mortgage, pledge or grant security interests in such mortgages of participating interests, mortgage loans or other property of the Department, to secure the payment of the principal or redemption price of and interest on such bonds;
WHEREAS, on September 7, 2023, the Governing Board adopted a resolution designating signature authority to reflect the structure of the Department; and
WHEREAS, organizational changes have occurred that remove Homero Cabello as Deputy Executive Director, establish a new Deputy Executive Director - Housing Finance with authority for all department transactions and add Wendy Quackenbush as Director of Multifamily Compliance, such that the Governing Board has now determined that its...
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