SENATE RESOLUTION NO. 211
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
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President of the Senate
I hereby certify that the
above Resolution was adopted by
the Senate on February 23, 2015.
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Secretary of the Senate
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Member, Texas Senate