Travis County Commissioners Court
July 6, 2004
Item 33
Item number 33 is to consider and take appropriate action on resolution approving the issuance of bonds to provide funds to finance the strategy housing finance corporation of Travis County's lease purchase program. For low and moderate income residents of Travis County.
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>> ...and so just timing-wise, I mean this is how it works, like, with Travis County housing finance corporation, the bond resolution is always adopted approximately a week to two prior to actually receiving the attorney general approval. I mean just timing-wise, that's how it is done and everything is held in escrow by the attorney general until they issue their approving opinion.
>> if the a.g. Approval does not come by the date of closing, you hold off on closing until?
>> yes, sir. Everything will continue to be held in escrow until that approval comes. We have a former assistant general.
>> former assistant general is with us.
>> judge, just to answer that, the approval process -- lad patillo, financial adviser to the corporation. I held that job four years at the attorney general's office. That is a ministerial function, I don't know what it's been codified, like when you issue county bonds, glenn opal submits a transcript and one of the requirements under state law or under the way you've created this strategic is that they have the approval here. Your approval today of them issuing bonds is very similar to the way you have to approve e.s.d.s before they do. Once you approve it, the bonds are sold and they submit the transcript to attorney general's office and they issue their opinion.
>> are we working on an informational brochure?
>> good morning, my name is wiley hopkins. Yes, judge, we are in the process of formulating our -- all our advertising and media press release forms, and a flier will be coming out that we will bring forward to each of your offices.
>> I have in mind a brochure similar to the one we used for the housing finance corporation. My guess is that we will get inquiries ourselves and it's just easier to send a copy of the brochure or say come out and get a copy of the brochure, or if you really send to it groups, organizations, they really don't have to get out the word that way.
>> yes, sir, we appreciate your effort and willingness to do that.
>> I did indicate earlier I would postpone 34, that's the addition of two directors. I do think that's a good idea and i've not given up on finding two. Hopefully real, real soon.
>> yes, sir. [inaudible].
>> what we'll do is send that -- send resumes to you all and just look at them probably before we take action on them.
>> yes, sir.
>> anything further under 33?
>> move approval.
>> second.
>> discussion? All in favor? That passes by unanimous vote. Thank you all very much. Good luck to you. We look forward to working with you.
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Last Modified:
Friday, October 28, 2005 9:41 AM