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HomeMy WebLinkAbout1968-09-19 - Minutes - Archive0 WAIVER 0 NOTICE OF AND CONSENT TO SPECIAL MEETING We,the undersigned, do hereby accept notice of this Special meeting, waiving any and all irregularities in the service of notice and do hereby consent and agree that the Commissioners of the Housing Authority of Fayetteville, Arkansas, shall meet at their regular meeting place at 3:00 o'clock p.m.,on the 19th day of September, 1968, for the following purposes: To consider and vote on all the items of the Agenda set for the regular meeting of September 18th, 1968, which • could not be voted upon because of a lack of a quorum. Such items were: Approval of August 29th meeting minutes Approval of Financial Report Adopt Resolutions 24,25,26 attached hereto To transact any other business that may come before the meeting 0 c L.% MINUTES OF LTHE MEETING OF THE HOUSING AUTHORITY OF THE CITY OF FAYETEEVILLE, ARKANSAS HELD ON THE 19th DAY OF SEPTEMBER 1968 On the 19th day of September, 1968 at 3:00 p.m., the Hdasing Authority of the City of Fayetteville, Arkansas, met in Special Session in the Director's Room, City Administration Building. The meeting was called to order and on roll call the following members were present: Present: Whillock, Shelton, Douglas, Baxter Absent: Gould Others: Hugh Kincaid, James Vizzier, Ora Belle Rollow The Chairman ordered that the following Waiver and Consent be spread upon the minutes: WAIVER TO NOTICE OF AND CONSENT TO SPECIAL MEETING We, the undersigned, waiving any and all irregularities in the service of notice and do hereby consent and agree that the Housing Authority of the City of Fayetteville Arkansas, shall meet at their regular meeting place at 3:00 p.m. on the 19th day of September, 1968 for the • following purposes: To consider and vote on all the items of the Agenda set for the regular meeting of September 18th, 1968, which could not be voted upon because of a lack of a quorum.Such items were: Approval of August 29th meeting minutes Approval of Financial Report Adopt Resolutions 24,25,26 attached hereto To transact any other business that may come before the meeting. (S) Carl Whillock (S) Ellis Shelton (S) Hal Douglas (S) L.L.Baxter (S) J.W.Gould There being a quorum the following business was transacted. The minutes of the August 29th meeting were approved by motion of Mr. Douglas, seconded by Mr. Shelton and motion was carried unanimously. The Financial Report was approved by motion of Mr. Baxter, seconded by Mr. Shelton and motion was carried unanimously. • The following Resolution, attached hereto, was presented for approval: RESOLUTION N0.24, A RESOLUTION AUTHORIZING THE SECRETARY TO CHARGE OFF COLLECTION LOSSES INCURRED IN THE MANAGEMENT OF PROPERTY OWNED BY THE AUTHORITY." The Resolution was read in full and adopted by motion of • Mr. Baxter, seconded by Mr. Douglas and the following vote recorded: Ayes: Douglas, Shelton, Whillock, Baxter Nayes: None The Chairman declared the motion carried and the Resolution adopted. The following Resolution,attached hereto, was presented for adoption: RESOLUTION NO 25 - A RESOLUTION AUTHORIZING THE EXECUTION OF A FINANCING AGREEMENT" The Resolution was read in full and after discussion Mr. Douglas moved that the Resolution be adopted as introduced. The motion was seconded by Mr. Baxter and the following vote recorded: Ayes: Whillock, Baxter, Shelton, Douglas Nayes: None The Chairman declared the motion carried and the Resolution adopted. • The following Resolution was presented for adoption: RESOLUTION NO 26 - " A RESOLUTION AMENDING RESOLUTION NO 9-66, AS AMENDED BY RESOLUTION NO 1-67,TO CHANGE THE AREA TO BE INCLUDED IN THE GENERAL NEIGHBORHOOD RENEWAL PLAN". The Resolution was read in full and after discussion Mr. Shelton moved its adoptionas introduced. The motion was seconded by Mr. Douglas and the following vote was recorded: Ayes: Whillock, Douglas, Baxter, Shelton Nayes: None The Chairman declared the motion carried and the Resolution, attached hereto, adopted. There being no further business the meeting was adjourned by motion of Mr. Douglas, seconded by Mr. Shelton and motion carried unanimously. ATTEST: AP.P�VED: • lTiz�i/. SECRETARY CHAIRMAN 16 W RESOLUTION NO. 24 A RESOLUTION AUTHORIZING THE SECRETARY FO CHARGE OFF COLLECTION LOSSES INCURRED IN THE MANAGEMENT OF PROPERTY OWNED BY THE HOUSING AUTHORITY. WHEREAS, the Housing Authority of the City of Fayetteville Arkansas has found and hereby determines that certain rent balances due the Housing Authority are uncollectable and, WHEREAS, The Housing Authority wishes to close its accounts for the management of the rental property acquired by purchase of the Cummings Property, NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE HOUSING AUTHORITY OF THE CITY OF FAYETTEVILLE, ARKANSAS: The Secretary is hereby directed to charge off the uncollectable accumulated balance of rents due from tenants who have vacated the premises in the amount of $60. PASSED AND APPROVED this 19th day of September, 1968 CHAIRMAN hI ATTEST: SECRETARY MITIVUTES OF THE I=LQG OF TH1 vt/ r • commissionerm of ther,ouni.ng "nthority of the 04.t• of :a.,attavillm, Ar':ansas , HELD ON THE 19 tdDAY OF September 1968. 19 On the 19th da;- of Soptem!Mr, %,MSaL3:00 o'clock?.T'.m., the C=.MisnioncZo of t? -,o :immirg Authority of the City Of P'aydtteville,Arx.. met {n Special/Pagzkw Session. The meeting was called to order and on roll. call the following members of the body were present: 1111�SS a at�Sl}Ar+^., , _Sheltan Baxter._ ^, Absent were h'essrs. nou18____.__..----_--•-- Also present .sere�, a1n Fox_james ,Uzzior, Gra Dello R0110w Hue, Y,incaid The Chrair!asr ordered that the following 6laiver and Consent • be spread upon the ilinutes: I.1 9g9z S?AiVE?; OF PTOTICE OF Ail?0 COIISENT TO SPECIAL =1TING 4ie, the ,nders;.g ned, do hereb;;r accept notice of this Special meeting, waiving any and all irrngtl.larities i.n the service of notice and do Ccmmia+c�ionosa o! thn Elousini hereby consent and agree that the Atit1tor.ity of `ayuttovilloe Arkshall meet at their regular meeting place at 3:00 o'elorl:.+�'ai., ou the 19th day of Septenl*er 39 68 for the fol'_owi.g rui•noses: Tq adopt a FUSOLUTION AUTFORIZTNII TEE WrrC1JTI021 OF A VXUJAnCInG AGRUMENT AVD DOCEiMEMTS MATING To transact an',r other business that may come before the meeting. /S/ Carl Whillook /S/ J.w.Gould /S/ Ellis Shelton /S/ L.L.Baxter /S/ Hal Douglas There being a quorum present, the following business was transacted: The followirl; Resolution was introduced by Mr, S11 welilloc , read in full. a:zd considered: After discussion, Commis sionerDouglas moved that the Resolution I be adopted as introduced and read. The motion was seconded by Commissioner Shelton , and the following vote was recorded: AYES: ^ouglau, S elton, SQAllock, Paxter NAYS: p;OFF The Chairman thereupon declared the motion carried and the Resolution adopted, ****t****** There being no further business to come before the meeting, Commissioner Baxter moved that the meeting adjourn, which motion was duly seconded by Commissioner Douglas and carried by unanimous vote. The Chairman thereupon declared the meeting adjourned. Chairman Secretary C E R T I F I C A T E I, fora Bello Rollotr the duly appointed, qualified and acting Secretary of the Housing Authority of the do hereby certify that the attached extract from the Minutes of the Special Meeting of the Commissioners of said Authority held on Sentemher 19th, 1968, is a tiue and correct copy of the original minutes of said meeting on file and of record insofar as said original minutes relate to the matters set forth in said attached extract, and I do further certify that each Resolution appearing in said attached extract is a true and correct copy of the same resolution adopted at said meeting and on file and of record. IN TESTIMONY WHEREOF, I have hereunto set my hand and the seal of said Authority this 19thday ofSeptember , 1968 Secretary (SEAL) 0 0 HUD=53025 November 1966 (Formerly PHA -3025) RESOLUTION AUTHORIZING THE EXEC19TICN CF A FINANCING AGREEMENT Fayetteville, Arkansas WHEREAS, the Housing Authority of the City of / (herein called the "Local Authority") is a public body corporate and politic, duly organised and existing pursuant to the Arkansas Housing Authorities Act (herein called "Housing Authorities Law"),* and WHEREAS, the Local Authority has entered into an Annual Contributions Con- tract (which, together with any supplements thereto or amendments or waivers of amy provisions thereof, is herein called the "Contract") with the United States of America (herein called the "Government") covering the development and opera- tion of low -rent housing project or projects, as follows: Annual Contribution Contract No. and Date FW -1039 dated June 26, 1967 'WHEREAS, the Contract provides that at any time and from time to time the Local Authority may, as approved by the Government, obtain loans from others than the Government, which loans may be evidenced by Temporary Notes or Bonds of the Ldbal Authority; and WHEREAS, the Housing Authorities Law authorises any two or more Housing Authorities to cooperate with one another in the exercise of their powers and for such purpose a Housing Authority may by resolution authorise any other Housing Authority so cooperating with it to act in its behalf with respect to any or all powers; and WHEREAS, the Local Authority desires to cooperate with other Housing Author- ities duly organised and existing pursuant to the Housing Authorities Law for the purpose of financing their respective low -rent housing projects undertaken with the financial assistance of the Governments and WHMEAS, such cooperative financing will result in savings :.. promote economy in the performance of the necessary financing functions of the Local NOW, THEREFORE, HE IT RESOLVED by the Commissioners of the Local • Authority as follows: Sec. 1. The Local Authority hereby determines to enter into an agreement providing for cooperative financing between and among those Housing Authorities that might from time to time become parties thereto. For this purpose and pursuant to the agreement, the Local Authority shall cooperate with each other Housing Authority, that may become a party to such agreement, in the exercise of its powers for the purpose of collectively financing its respective proj- ects and for such purpose hereby prescribes and authorizes the Housing Authority of the City of Hot Springs, Arkansas (herein called "Agent Authority") to act in its behalf with respect to all powers as may be necessary or • HOD43025 November 1966 (Formerly PHA -3025) 0 convenient and as fully as it may act in its own name with respect to such powers, except as expressly limited by such an agreement. In the exercise of the powers prescribed and authorized in the agreement, the Agent Authority may delegate any of such powers to its officers and employees as fully as if such powers were exercised solely in its own behalf. The agreement shall be in the form of the "Financing Agreement" which is attached hereto and made a part of this resolution. Sec. 2. The Financing Agreement is hereby approved and accepted both as to form and substance• The Local Authority hereby accepts the terms thereof and authorizes and directs its proper officers to execute the Noticd to.Agent Authority to Become Party to Financing Agreement, which is attached hereto and made a part of this Resolution, in one or more original counterparts on behalf of the Local Authority and to impress and attest the official seal of the Local Authority on each such counterpart. l/ •Sec. 3. The Financing Agreement shall be in substantially the following form: 0 l/ This is alternate Seo. 2; delete one. It this alternate is used, attach HDD -53021A appropriately completed. Attach HOD -53021 under either alternate. - 2 - HOD -HAA, Yash•, D.C. 1 - HUD -53021 November 1966 (Formerly PHAm3021) 40 �L FINANCING AGREEMENT rALI as Agent Authority day of 19 and such other Housing Authorities which, pursuant to Sec. 14 hereof, join in and become parties hereto; WITNESSETH: WHEREAS, each of the parties hereto is a "Housing Authority", of the designated City or County of the State of and a public body corporate and politic duly organized and existing pursuant to the WHEREAS, each Housing Authority is developing and/or operating one or more low -rent housing projects with the financial assistance of the United States of America (herein called "Government") pursuant to an Annual Contributions Contract between such Housing Authority and the Government under authority of the Housing Authorities Law and the United States Housing Act of 1937; and WHEREAS, the Annual Contributions Contract provides that the Housing Authority may, as approved by the Government, obtain loans from others than the Government which may be evidenced by temporary notes and bonds; and WHEREAS, the Housing Authorities Law authorizes any two or more Housing Author- ities to cooperate with one another in the exercise of their powers and for such purpose a Housing Authority may by resolution authorize any other Housing Authority so cooperating with it to act in its behalf with respect to any or all powers; and WHEREAS, each Housing Authority that is a party to this Agreement has pursuant to the Housing Authorities Law indicated by valid resolution its determination to cooperate with one another in financing of its respective projects on the terms and conditions provided herein; NOW, THEREFORE, in consideration of the mutual covenants and agreements herein set forth, the parties hereto agree as follows: Sec. 1. Each Housing Authority is developing and operating one or more low. rent housing projects with financial assistance of the Government pursuant to an Annual Contributions Contract with the Government, as follows: Annual Contributions Housing Authority Contract No. and Date , as amended and supplemented to the date of this Agreement . (herein called "Housing Authorities Law"); and WHEREAS, each Housing Authority is developing and/or operating one or more low -rent housing projects with the financial assistance of the United States of America (herein called "Government") pursuant to an Annual Contributions Contract between such Housing Authority and the Government under authority of the Housing Authorities Law and the United States Housing Act of 1937; and WHEREAS, the Annual Contributions Contract provides that the Housing Authority may, as approved by the Government, obtain loans from others than the Government which may be evidenced by temporary notes and bonds; and WHEREAS, the Housing Authorities Law authorizes any two or more Housing Author- ities to cooperate with one another in the exercise of their powers and for such purpose a Housing Authority may by resolution authorize any other Housing Authority so cooperating with it to act in its behalf with respect to any or all powers; and WHEREAS, each Housing Authority that is a party to this Agreement has pursuant to the Housing Authorities Law indicated by valid resolution its determination to cooperate with one another in financing of its respective projects on the terms and conditions provided herein; NOW, THEREFORE, in consideration of the mutual covenants and agreements herein set forth, the parties hereto agree as follows: Sec. 1. Each Housing Authority is developing and operating one or more low. rent housing projects with financial assistance of the Government pursuant to an Annual Contributions Contract with the Government, as follows: Annual Contributions Housing Authority Contract No. and Date HUD -53021 November 1966 (Formerly PHA -3021) ; and such other Annual Contributions Contracts as may be added hereto pursuant to Sec. 14 hereof. Sec. 2. Each Housing Authority shall cooperate with each other Housing Authority and the Agent Authority in the exercise of its powers for the purpose of collectively financing its respective projects covered by the Annual Contri- butions Contracts referred to herein, as such Contracts may be modified or amended from time to time, and for such purpose hereby prescribes and authorizes (herein sometimes called "Agent Authority") to act in its behalf with respect to all powers as may be necessary or convenient and as fully as it may act in its own name with respect to such powers, except as expressly limited by this Agreement. In the exercise of the powers herein pre- scribed and authorized the Agent Authority may delegate any of such powers to its agents, officers and employees as fully as if such powers were exercised solely in its own behalf. Sec. 3. Each Housing Authority hereby determines to incur an indebtedness not in excess of the aggregate Estimated Total Development Cost of its respective projects as may be specified in its Annual Contributions Contract. Such indebt- edness shallbd evidenced by obligations which shall be issued from time to time, . be in such principal amounts, bear such interest rates, and be for such terms, all as prescribed in this Agreement. For such purpose and solely in order to provide funds to pay expenses incurred or to be incurred pursuant to the Annual Contributions Contracts or to refund, renew or extend outstanding obligations issued in connection therewith, the Agent Authority shall obtain funds from others than the Government and for such purpose may issue and have outstanding at any one time negotiable notes (herein called "Temporary Notes") and bonds (herein called "Bonds") for purchase by the public from time to time in amounts which shall not exceed the aggregate Estimated Total Development Cost of all the projects as specified in all such Annual Contributions Contracts. Sec. !t. The Agent Authority shall advertise from time to time the public sale of one or more series of Temporary Notes or issues of Bonds in accordance with a schedule of advertising arranged in cooperation with other public housing agencies,receive proposals for the purchase of such Notes or Bonds, and award such Notes or Bonds, as approved by the Goverment at the lowest interest rate or rates not in excess of 6 percent per annum offered in the proposals without refer- ence to premiums; Provided, That as among proposals specifying the same lowest interest rate awar s3 sTal be made on the basis of the highest premium offered. Sec. 5. Each series of Temporary Notes shall be issued in the name of the Agent Authority, shall bear a date not later than the date of delivery thereof and shall mature within a term not to exceed 18 months from their date. Each series of Temporary Notes shall bear interest at the rate or rates per annum fixed in the proposal or proposals accepted for the purchase of such Notes, shall be issued in such denominations, and both principal and interest thereof shall be payable at such incorporated bank having trust powers or incorporated trust company as the purchaser designates in his proposal as paying agent of such Notes, and shall be secured by an agreement (called "Requisition Agreement") entered into between the Agent Authority and the Government for the benefit of the holder or holders of such series of Temporary Notes. Each Requisition Agreement shall require the Government to make advances on account of the loans provided in the Annual Contri- butions Contracts in an amount sufficient to pay the principal of and interest on each series of Temporary Notes to maturity and to pay such amount on behalf of the Housing Authorities for account of the Agent Authority to the paying agent named in such series of Temporary Notes for the purpose of paying such principal and interest. The Agent Authority shall take any and all actions as may be required to complete delivery of each series of Temporary Notes. Sec. 6. For the punctual payment of the principal of and interest on each series of Temporary Notes each Housing Authority hereby expressly and irrevocably promises to pay any sums which may be received from the Government pursuant to the Requisition Agreement relating to such series of Temporary Notes and each such - 2 - HUD -53021 November 1966 (Formerly PHA -3021) Requisition Agreement when executed by the Government is hereby declared to be and is hereby assigned by each Housing Authority for the benefit of the holder or hold- ers from time to time of such series of Temporary Notes. All annual contributions and Residual Receipts (as defined in the Annual Contributions Contracts) author- ized by the Annual Contributions Contracts to be applied to the payment of Advance, Permanent, Series B, and Temporary Notes (as such terms are defined in the Annual Contributions Contracts) issued in connection with the projects are hereby pledged to secure the payment of the principal and interest to maturity on each series of Temporary Notes, and each Housing Authority hereby authorizes and directs the Gov- ernment to promptly make such annual contributions available for such payment. Sec. T. Prior to the advertisement of public sale of each series of Temporary Notes or issue of Bonds each Housing Authority shall notify the Agent Authority of the principal amount of Temporary Notes or Bonds to be issued in its behalf. Promptly upon the delivery of each series of Temporary Notes and issue of Bonds and periodi- cally, but not less often than annually, thereafter as the Agent Authority may require, the Agent Authority shall be reimbursed for the actual costs incurred in the sale, delivery and servicing of such Notes and Bonds during such period. Each Housing Authority shall reimburse the Agent Authority for such costs in the proportion which the principal amount of such Notes or Bonds issued on behalf of such Housing Author- ity bears to the total principal amount of such series of Notes or issue of Bonds. Sec. 8. The amount of the proceeds from the sale of each series of Temporary Notes equal to the portion thereof issued on behalf of each Housing Authority shall O be applied by the Agent Authority, First, to the payment of principal of and interest on notes of such Housing Authority =hen by the Government which are refunded by such series of Temporary Notes; Second, to the payment of principal of and interest on any Temporary Notes of such Housing Authority which are refunded by such series of Temporary Notes; and Third, to the payment of any balance to such Housing Authority. Accrued interest recelVie�on account of any series of Temporary Notes shall be paid to the paying agent of such series to be applied to the payment of interest on such series at the maturity thereof. Premiums received from the sale of each series of Temporary Notes shall be applied to the reduction of costs incurred by the Agent Au- thority before requiring reimbursement from the Housing Authorities. To the extent that such premiums exceed such costs the amount of such excess shall be distributed to the Housing Authorities in the same proportion as is required in respect to reim- bursement of such costs unless other distribution is approved by the Government. Sec. 9. The total interest on each series of Temporary Notes shall be charged to each Housing Authority in the proportion which the portion of the principal amount of such series issued on behalf of such Housing Authority bears to the total principal amount of such series. Each Housing Authority, on or prior to the maturity date of any series of Temporary Notes, shall pay to the paying agent or agents of such series of Notes an amount equal to the sum of its portion of the interest accruing on such series, plus the amount by which the portion of the principal amount (together with interest thereon to maturity) of such series issued in its behalf exceeds the portion of the principal amount of succeeding series of Temporary Notes (issued to refund such series) issued on its behalf. Such payments may be made through the Agent Au- thority or the Government as may be appropriate at the time such payments are made. 4 Sec. 10. Each issue of Bonds shall be authorized by resolution of the Agent SII Authority, shall be executed in the name of the Agent Authority and shall be issued in the form and manner as may be authorized from time to time by the Housing Authori- ties Law and the Annual Contributions Contracts: Provided, That the Bonds shall be payable solely and only from the Accruing Annual Contributions and Residual Receipts (as such terms are defined in the Annual Contributions Contracts) of Permanently Financed Projects (as defined in the Annual Contributions Contracts.) The Government is hereby authorized and directed to pay all Accruing Annual Contributions which may be pledged to the payment of the Bonds to the Fiscal Agent designated in the resolu- tions authorizing the Bonds. Sec. 11. Whenever funds shall have been deposited by or on behalf of any Hous- ing Authority with the Fiscal Agent for the purpose and in an amount sufficient to pay the principal amount of Bonds (together with interest thereon and any redemption premium) outstanding in respect to such Housing Authority no further deposits shall be made with the Fiscal Agent for or on behalf of such Housing Authority. Each Hous- ing Authority shall be fully credited with advance amortization of Bonds resulting from deposits directly attributable to such Housing Authority. Advance amortization attributable to Bond premiums shall be credited to each Housing Authority in the pro- portion which the principal amount of the Bonds issued on behalf of such Housing Au- thority bears to the total principal amount of such issue of Bonds and interest, when required by any Annual Contributions Contract to be included in Development Cost, shall be charged on the same basis. -3- HUD43021 j November 1966 (Formerly PHA -3021) Sec. 12. The Agent Authority acting by any of its officers, employees or agents may make such assignment and may consent, covenant, and certify on behalf of each Housing Authority as to any matters expressed in this Agreement or as may be neces- sary or convenient for the purpose of financing any or all of the projects and such assignments, consents, covenants, and certifications shall be binding upon each Hous- ing Authority to the same extent as if made by the officers, employees or agents of such Housing Authority. Sec. 13• Each Housing Authority covenants and agrees with and for the benefit of each other Housing Authority, the Agent Authority, the Government and the holders from time to time of the Temporary Notes and Bonds: (a) That it will not take any action which might affect or impair the obligation of the Government to make payment of any moneys pledged as security for the payment of the principal of and interest on Temporary Notes or Bonds; (b) That it will not obtain any loan with respect to any project from the Government, or from others than the Government which are secured by the obligation of the Government to make an advance on account of the loan pursuant to the Annual Contri- butions Contract covering such project, without full disclosure of any such proposed loan to the Agent Authority; (c) That it will not obtain any loan with respect to any project from the Govern- ment or from others than the Government which are secured by the specific portion of the annual contributions pledged to the payment of the Bonds; . (d) That it will do and perform every covenant and agreement made on its behalf by the Agent Authority in pursuance of the Housing Authorities Law, the Annual Contri- butions Contract and this Agreement, and for such purpose each Housing Authority hereby joins the Agent Authority and becomes a party to the performance of each act and deed necessary or convenient to complete the delivery of each series of Temporary Notes and issue of Bonds; and 14 (e) That it will not amend this Agreement in any way which would limit or alter the rights of such holders or otherwise impair the rights and remedies of such hold- ers until such Temporary Notes and Bonds, together with interest thereon, and all costs, expenses, and damages in connection with any action or proceedings by or on behalf of such holders, are fully met and discharged. Sec. 14. The Agent Authority may permit any Housing Authority to join in and become a party to this Agreement and to add Annual Contributions Contracts upon written notice from the Housing Authority that it has accepted the terms hereof. Upon acceptance by the Agent Authority of any such notice the Housing Authority shall be deemed to have joined in and become a party hereto and its Annual Contributions Contract incorporated herein. Subject to Sec. 13(e) any Housing Authority and/or Annual Contributions Contract may be excluded herefrom upon similar notice and acceptance of such exclusion. Sec. 15. Each Housing Authority certifies that all conditions precedent to the valid execution and delivery of this Agreement on its part have been complied with, that all things necessary to constitute this Agreement its valid, binding, and legal agreement on the terms and conditions and for the purposesherein set forth have been done and have occurred, and that the execution and delivery of this Agreement on its part have been and are in all respects duly authorized in accordance with law. IN WITNESS WHEREOF, the Housing Authorities have caused this Agreement to be executed in their respective names and their respective seals to be impressed or affixed hereon and attested as of the date first above written. (SEAL) ATTEST: ! 1 �y i (SEAL) ATTEST: -4- HUD-W®h., D. C. l` RESOLUTION NO.26 • A RESOLUTION AMENDING RESOLUTION NO, 9-66, AS AMENDED BY RESOLUTION NO, 1-67, TO CHANGE THE AREA TO BE INCLUDED IN THE GENERAL NEIGHBOR- HOOD RENEWAL PLAN. WHEREAS, by Resolution 9-66, dated September 21, 1966, the Commissioners of the Housing Authority of the City of Fayetteville, Arkansas, approved the undertaking of a General Neighborhood Renewal Plan and the filing of an application for federal advance of funds, describing therein the area to'be included in the General Neighbor- hood Renewal Area, and WHEREAS, by Resolution No. 1-67, dated January 18, 1967, the Commissioners of the Housing Authority of the City of Fayetteville, Arkansas, amended Resolution No. 9-66, in part to change the descrip- tion of the General Neighborhood Renewal Area, and WHEREAS, in order to conform more precisely to current criteria for renewal areas as established by the Regional Office of the Depart- ment of Housing and Urban Development, it is now necessary to further modify the description of the General Neighborhood Renewal Area, NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS OF THE HOUSING AUTHORITY OF THE CITY OF FAYETTEVILLE, ARKANSAS: • SECTION I. That Resolution No. 9-66, of September 21, 1966, as amended by Resolution No. 1-67, of January 18, 1967, be further amended to change the General Neighborhood Renewal Area as is fully described in Section 1 of Resolution No. 1-67, by deleting the following described lands from the area described in said Section 1: Beginning at the Northeast corner of the Northeast 1/4 of the Southwest 1/4, Section 15, T -17-N, R -30-W, thence South 247.3 feet more or less to the Southeast corner of Lot 1, City Addition, thence West 150 feet more or less, thence North to the Northwest corner of Lot 1, Block 1, Skillerns Sub -division; thence West to the northeast corner of Lot 10, Block 3, Skillerns Sub- division; thence North to the Northeast corner of Lot 5, Block 1, McIlroy's Addition, thence East to the Northeast corner, lot 5 Block 4, McIlroy Addition; thence South to the point of beginning, containing 9 acres, more or less. Beginning at the Northeast corner of Lot 7, Block 3, Berl Dodd Addition; thence West to the Northeast corner of Lot 4, Block 3, Berl Dodd Addition; thence North to the southeast corner of Lot 3, Block 4 Glen Wood Park Addition; thence east 810 feet,more or less, to the west right-of-way of Wood Avenue; thence south along the west right-of-way of Wood Avenue; thence South along the west right-of-way of Wood Avenue 1150 feet more or less; thence west to the northwest corner of the Northeast 1/4 of the Southwest 1/4 of the Northwest .2- 1/4, Section 22, T -17-N, P. -20-W; thence South to the point of beginning, containing 23 acres, more or less. Beginning at the Southeast corner of lot 6. Block 7, Berl Dodd Addition, thence South 290 feet more or less', thence West 810 feet more or less; thence North 2640 feet more or less; thence West 800 feet more or less; thence North 150 feet more or less to the south right -or -way of 7th Street; thence East along south right-of-way of Seventh Street 930 feet more or less to the West right- of-way of South College Avenue; thence South along the west right-of-way of College Avenue 2530 feet more or less; thence East to the point of beginning; containing 15 acres, more or less. SECTION,2. That all other provisions of Resolution No. 9-66, as amended by Resolution No. 1-67, shall remain in full force and effect. PASSED AND APPROVED this 19th_ day of September 1968. CHAI RMAN • ATTEST: SECRETARY 40