Travis County Commssioners Court
March 16, 2004
The Closed Caption log for this Commissioners Court agenda item is provided by Travis County Internet Services. Since this file is derived from the Closed Captions created during live cablecasts, there are occasional spelling and grammatical errors. This Closed Caption log is not an official record the Commissioners Court Meeting and cannot be relied on for official purposes. For official records please contact the County Clerk at (512) 854-4722.
Housing Finance Corporation
Let's call to order the Travis County Austin housing finance corporation. The first item is to consider and take appropriate action to approve changes to the investment policy.
>> good afternoon. I’m mary mays, the sis at the present time manager of the corporation. I’m here today without my colleague, harvey Davis, who is the manager, because he is on vacation this afternoon. This item is because of the requirement of the public funds investment act to review your policy, investment policy annually. Harvey and I have done that. And we have -- we are recommending some changes which will help us to be in better compliance with the public funds investment act. In addition to that, we have used a list which is provided by the government treasurer's organization of Texas, which is additional best practices that we would like to have in the policy. None of these changes will necessitate a change in the procedures with which we are currently investing the money as a corporation. It simply makes the investment policy a better policy in case we should need to use these one of these days.
>> questions?
>> move approval of the recommended changes?
>> second.
>> all in favor? That passes by unanimous vote, including director Sonleitner. Two is to consider and take appropriate action to approve a resolution designating the amount of cash reserve for the proposed home award from the Travis County housing finance corporation to the Texas department of housing and community affairs for a 2004 home buyer assistance program.
>> as you recall, the board has approved this application for the 2004 home buyer assistance program, including asking the county to approve it on item 29 today, which was done. This is simply part of the paperwork that we have to do, and it makes sure that we will reserve $45,000. If we get the 300,000-dollar grant that we are asking for, we would need the $45,000 to put up. It would be reimbursed, but we would need to have this in order to start the program. If we were to receive a grant that's less than $300,000, then this amount would be -- would be lowered appropriately.
>> questions? Move approval.
>> second.
>> all in favor? That passes unanimously. Three is to approve a resolution authorizing Sam t. Biscoe to execute the home agreement with the Texas department of housing and community affairs for a 2004 home buyer assistance program. That refers back to number 2, right?
>> yes, sir.
>> I move approval.
>> second.
>> all in favor? That passes unanimously.
>> move adjourn.
>> second.
>> all in favor? That passes unanimously also.
Last Modified: Wednesday, March 24, 2004 1:40 PM