| 1 | 1 | | SENATE RESOLUTION NO. 211 |
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| 2 | 2 | | WHEREAS, The Affordable Housing Program instituted by the |
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| 3 | 3 | | Federal Home Loan Bank of Dallas is marking its 25th anniversary |
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| 4 | 4 | | in 2015, and this occasion provides the ideal opportunity to |
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| 5 | 5 | | acknowledge the significant achievements of this noteworthy |
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| 6 | 6 | | program; and |
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| 7 | 7 | | WHEREAS, Congress created the Federal Home Loan Bank |
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| 8 | 8 | | System in 1932 to promote housing and to provide liquidity for |
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| 9 | 9 | | United States financial institutions; and |
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| 10 | 10 | | WHEREAS, Approximately 499 Texas financial institutions |
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| 11 | 11 | | currently partner as members of the Federal Home Loan Bank of |
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| 12 | 12 | | Dallas and thereby offer programs to Texas residents statewide; |
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| 13 | 13 | | and |
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| 14 | 14 | | WHEREAS, The Federal Home Loan Bank of Dallas dedicated the |
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| 15 | 15 | | Affordable Housing Program in 1990 by annually allocating 10 |
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| 16 | 16 | | percent of its net income to improve housing conditions for |
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| 17 | 17 | | income-qualified Texas residents; and |
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| 18 | 18 | | WHEREAS, Since 1990, Texas has been awarded Affordable |
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| 19 | 19 | | Housing Program competitive grants totaling more than $117 |
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| 20 | 20 | | million and set-aside grants amounting to more than $8.9 million; |
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| 21 | 21 | | and |
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| 22 | 22 | | WHEREAS, Funding from the Affordable Housing Program |
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| 23 | 23 | | competitive grants has contributed to the construction or |
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| 24 | 24 | | rehabilitation of more than 650 projects in Texas since 1990; and |
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| 25 | 25 | | WHEREAS, The Federal Home Loan Bank of Dallas serves a |
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| 26 | 26 | | five-state district that includes Arkansas, Louisiana, |
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| 27 | 27 | | Mississippi, New Mexico, and Texas; since the inception of the |
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| 28 | 28 | | Affordable Housing Program in 1990, competitive grants totaling |
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| 29 | 29 | | more than $286 million have contributed to the construction and |
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| 30 | 30 | | rehabilitation of rental and owner-occupied housing for more |
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| 31 | 31 | | than 41,000 families in the district, and set-aside grants of |
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| 32 | 32 | | more than $24 million have gone to help first-time homebuyers and |
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| 33 | 33 | | special-needs homeowners; now, therefore, be it |
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| 34 | 34 | | RESOLVED, That the Senate of the State of Texas, 84th |
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| 35 | 35 | | Legislature, hereby acknowledge and congratulate the Federal |
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| 36 | 36 | | Home Loan Bank of Dallas and its board of directors, officers, |
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| 37 | 37 | | employees, and advisory council on the occasion of the 25th |
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| 38 | 38 | | anniversary of the Affordable Housing Program and applaud them |
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| 39 | 39 | | for their generous contributions to the citizens of Texas and of |
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| 40 | 40 | | the district as a whole; and, be it further |
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| 41 | 41 | | RESOLVED, That a copy of this Resolution be prepared in |
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| 42 | 42 | | commemoration of the 25th anniversary of the Affordable Housing |
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| 43 | 43 | | Program. |
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| 44 | 44 | | Lucio |
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| 45 | 45 | | ________________________________ |
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| 46 | 46 | | President of the Senate |
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| 47 | 47 | | I hereby certify that the |
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| 48 | 48 | | above Resolution was adopted by |
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| 49 | 49 | | the Senate on February 23, 2015. |
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| 50 | 50 | | ________________________________ |
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| 51 | 51 | | Secretary of the Senate |
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| 52 | 52 | | ________________________________ |
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| 53 | 53 | | Member, Texas Senate |
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