Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Organization topic
No spam. Unsubscribe anytime.
Maverick County Housing Finance Corporation swears in directors, adopts bylaws and names officers
Summary
Directors of the newly formed Maverick County Housing Finance Corporation took oaths, approved bylaws and unanimously selected officers at an organizational meeting July 22, 2024; bond counsel said the corporation will use a standard application to vet workforce-housing projects.
The Maverick County Housing Finance Corporation held its organizational meeting on July 22, 2024, where directors were administered oaths of office, the board approved bylaws and officers were elected for the new entity.
Bond counsel Kerry Trail introduced himself for the record and told the board his firm will serve as bond counsel for the corporation: "My name is Kerry Trail. I'm with Cantu Hardin Montoya from San Antonio, Texas. I'll be serving as the bond lawyer for Maverick County Housing Finance Corporation," he said. Trail also introduced colleague Adam Harden as additional counsel who will assist on issuance and project matters.
Why it matters: The HFC is a county-sponsored corporation created to enable tax-exempt financing for multifamily workforce-housing projects. Counsel said adopting bylaws and seating officers are necessary organizational steps before the corporation can receive applications or act as issuer.
What the board did: Counsel described that the Secretary of State filed articles of formation on June 4, 2024. Directors asked procedural questions about how the corporation’s rules would compare with commissioners court procedures; counsel confirmed the same open-meeting posting requirements apply (72 hours). Commissioner Ramos moved to approve the bylaws, Commissioner Reese seconded the motion, and the board approved the bylaws by unanimous voice/hand vote.
Officers selected: The board appointed County Judge Ramsey Inglis as president of the HFC, appointed Commissioner Luis as vice president, and appointed Commissioner Olga Ramos to serve as secretary/treasurer. Each officer selection was moved and seconded and passed unanimously.
Directors also completed the administrative step of signing and notarizing oath forms so the directors could be officially seated and take on corporate duties.
Next steps: With officers in place and bylaws approved, the corporation is positioned to consider developer applications and finance structures presented by counsel and advisors.
Ending: The board then moved on to consider a standard application form and related resolutions to enable HFC financing for workforce-housing projects.
