HomeMy WebLinkAbout1979-11-27 - Minutes - r�- ti
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MINUTES OF RESIDENTIAL HOUSING FACILITIES BOARD MEETING
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A meeting of the Residential Housing Facilities Board DA+TE.•c-s1--6-15/9
was held on Tuesday, November 27 , 1979, at 4: 30 p.m. in the
Director 's Room of the Chamber of Commerce Building, Fayetteville,
Arkansas .
Present: Chairman F.H. Martin, Dale Christy, George
Faucette, Jr. , John Dominick and City Attorney Jim McCord.
Absent: Ron Pennington.
The Chairman called the meeting to order at 4: 30 p .m.
and submitted for consideration by the, Board a written
request by First National Bank to transfer $18, 000 . 00 of its
commitment to Mcllroy Bank & Trust. City Attorney Jim
McCord advised the Board that such a transfer was authorized
by Sec. 4. 03 of the Sale, Servicing and Administration
Agreement with the written consent of the Board. Dale
Christy moved that the requested transfer by First National
Bank be authorized. The motion was seconded by John Dominick
and passed unanimously.
George Faucette moved that each participating lender be
requested to advise the Board of the amount of any uncommitted
funds . The motion was seconded by Dale Christy and passed
unanimously. The Board discussed the question of whether it
could legally issue a second series , or a new issue, of
housing bonds in 1980 in view of Congressional action taken
earlier in 1979 . George Faucette moved that, if legally
possible, the Board issue a second series of housing bonds ,
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or a new issue of housing bonds , in 1980. The motion was
seconded by Dale Christy and passed unanimously.
There being no further business for the Board' s consideration
the meeting adjourned at 5 : 00 p .m.