HomeMy WebLinkAbout1980-04-21 - Minutes - 41- • A Q§'Jj n
-33
micRommax
1980,JUL 3
MINUTES
The Residential 'Housing Facilities Board of the City of
Fayetteville met in a special meeting on April 21, 1980 in
the conference room of the Fayetteville Chamber of Commerce
Building.
Present: Dale Christy, F.H. Martin, Ron Pennington,
and George Faucette.
Absent:. John DoMinick.
The meeting was called to order by Chairman Christy.
The first item of business discussed was a request by First
National Bank for a sixty (60) day extension of the origination
period. F.H. Martin moved approval of the request. The
motion was seconded by Ron Pennington and passed unanimously.
The second item of business was a request by Commercial
National Mortgage Company for a sixty C60), day extension of
the origination period and for a reallocation of $13 , 550. 00
from First Federal Savings and Loan and $10 ,250. 00 from
-National Mortgage Company to Commercial National Mortgage
Company. F.H. Martin moved that the request be approved.
The motion was seconded by Ron Pennington and passed unanimously.
F.H. Martin moved that if the $10, 250 . 00 at National
Mortgage Company becomes unavailable to Commercial National
Mortgage Company then $9 , 000 .00 be reallocated from Worthen
First Mortgage Company to Commercial National Mortgage
Company. The motion was seconded by Ron Pennington and
passed unanimously.
George Faucette moved adoption of a resolution to
Arkansas Senators David Pryor and Dale Bumpers supporting
legislation which would permit municipalities in Arkansas to
issue additional single family mortgage revenue bonds . The
. 17
- 2 -
motion was seconded by F.H. Martin and passed unanimously.
There being no further business, the meeting was
adjourned.
These minutestaken and transcribed by James. N. McCord,
legal counsel to Fayetteville Residential Housing Facilities
Board.