Bill Text: TX SR211 | 2015-2016 | 84th Legislature | Enrolled
Bill Title: Recognizing the Federal Home Loan Bank of Dallas on the occasion of the 25th anniversary of the Affordable Housing Program.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Passed) 2015-02-23 - Reported enrolled [SR211 Detail]
Download: Texas-2015-SR211-Enrolled.html
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| WHEREAS, The Affordable Housing Program instituted by the | ||
| Federal Home Loan Bank of Dallas is marking its 25th anniversary | ||
| in 2015, and this occasion provides the ideal opportunity to | ||
| acknowledge the significant achievements of this noteworthy | ||
| program; and | ||
| WHEREAS, Congress created the Federal Home Loan Bank | ||
| System in 1932 to promote housing and to provide liquidity for | ||
| United States financial institutions; and | ||
| WHEREAS, Approximately 499 Texas financial institutions | ||
| currently partner as members of the Federal Home Loan Bank of | ||
| Dallas and thereby offer programs to Texas residents statewide; | ||
| and | ||
| WHEREAS, The Federal Home Loan Bank of Dallas dedicated the | ||
| Affordable Housing Program in 1990 by annually allocating 10 | ||
| percent of its net income to improve housing conditions for | ||
| income-qualified Texas residents; and | ||
| WHEREAS, Since 1990, Texas has been awarded Affordable | ||
| Housing Program competitive grants totaling more than $117 | ||
| million and set-aside grants amounting to more than $8.9 million; | ||
| and | ||
| WHEREAS, Funding from the Affordable Housing Program | ||
| competitive grants has contributed to the construction or | ||
| rehabilitation of more than 650 projects in Texas since 1990; and | ||
| WHEREAS, The Federal Home Loan Bank of Dallas serves a | ||
| five-state district that includes Arkansas, Louisiana, | ||
| Mississippi, New Mexico, and Texas; since the inception of the | ||
| Affordable Housing Program in 1990, competitive grants totaling | ||
| more than $286 million have contributed to the construction and | ||
| rehabilitation of rental and owner-occupied housing for more | ||
| than 41,000 families in the district, and set-aside grants of | ||
| more than $24 million have gone to help first-time homebuyers and | ||
| special-needs homeowners; now, therefore, be it | ||
| RESOLVED, That the Senate of the State of Texas, 84th | ||
| Legislature, hereby acknowledge and congratulate the Federal | ||
| Home Loan Bank of Dallas and its board of directors, officers, | ||
| employees, and advisory council on the occasion of the 25th | ||
| anniversary of the Affordable Housing Program and applaud them | ||
| for their generous contributions to the citizens of Texas and of | ||
| the district as a whole; and, be it further | ||
| RESOLVED, That a copy of this Resolution be prepared in | ||
| commemoration of the 25th anniversary of the Affordable Housing | ||
| Program. | ||
| Lucio | ||
| ________________________________ | ||
| President of the Senate | ||
| I hereby certify that the | ||
| above Resolution was adopted by | ||
| the Senate on February 23, 2015. | ||
| ________________________________ | ||
| Secretary of the Senate | ||
| ________________________________ | ||
| Member, Texas Senate | ||
