78th Texas Legislature, Regular Session, House Bill 1247, Chapter 1050 Page: 4 of 7
7 p.View a full description of this legislative document.
Extracted Text
The following text was automatically extracted from the image on this page using optical character recognition software:
H.B. No. 1247
1 qualify as fire fighters or police officers under this section or
2 otherwise to administer all or part of this section.
3 (e) The board of directors of the corporation may set and
4 collect from each applicant any fees the board considers reasonable
5 and necessary to cover the expenses of administering the program.
6 (f) The board of directors of the corporation shall adopt
7 rules governing:
8 (1) the administration of the program;
9 (2) the making of loans under the program;
10 (3) the criteria for approving mortgage lenders;
11 (4) the use of insurance on the loans and the homes
12 financed under the program, as considered appropriate by the board
13 to provide additional security for the loans;
14 (5) the verification of occupancy of the home by the
15 fire fighter or police officer as the fire fighter's or police
16 officer's principal residence; and
17 (6) the terms of any contract made with any mortgage
18 lender for processing, originating, servicing, or administering
19 the loans.
20 (g) The corporation shall ensure that a loan under this
21 section is structured in a way that complies with any requirements
22 associated with the source of the funds used for the loan.
23 (h) In addition to funds set aside for the program under
24 Section 1372.0222, the corporation may solicit and accept funding
25 for the program from the following sources:
26 (1) gifts and grants for the purposes of this section;
27 (2) available money in the housing trust fund4
I
Upcoming Pages
Here’s what’s next.
Search Inside
This document can be searched. Note: Results may vary based on the legibility of text within the document.
Tools / Downloads
Get a copy of this page or view the extracted text.
Citing and Sharing
Basic information for referencing this web page. We also provide extended guidance on usage rights, references, copying or embedding.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives. 78th Texas Legislature, Regular Session, House Bill 1247, Chapter 1050, legislative document, June 20, 2003; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth158123/m1/4/: accessed May 4, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.