~?.~.. .. s~i~~ i Addition, Section Three. o-o-o-o-o-o-o-o-o-o NO. 13126 AId ORDER BY THE COMMISSIONER'S COURT OF I:ERR COUNTY, TEXAS, RELATING TO THE SOUTH TEXAS HIGHER EDUCATION AUTHORITY, INC., AND REQUESTING THAT SUCH CORPORATION PROCEED WITH THE ACQUISITION OF STUDENT LOAN NOTES WHEREAS, the South Texas Higher Education Authority, Inc. has been heretofore incorporated under the Texas Non-Profit Corporation Act and proposes to issue revenue bonds in order to obtain funds to purchase student loan notes which are guaranteed under the Higher Education Act of 1965, as amended; and WHEREAS, the said Authority will be operated exclusively for such purpose and the acquisi- tion of student loan notes will be limited to the student loan notes of students who are residents of or who attend an Eligible Institution located in a county that has requested the Authority to exercise its powers within such county; and WHEREAS, it is imperative that individuals have an opportunity to further their education at the college or university level if such individuals are willing to assume the undertaking and the responsibility thereof, including the obligation to pay the cost of such education in later years as permitted by the Higher Education Act of 1965; and the proposed financing by the Authority will have the effect of making such loans available to worthy students; there- fore On motion by Commissioner Lich, seconded by Commissioner Sallee, and unanimously approv- ed, it is ORDERED by the Commissioners' Court of Kerr County that: SECTION 1: That the student loan program to be undertaken by the South Texas Higher Education Authority, Inc., pursuant to Section 53.47 of the Texas Education Code, as described in the preamble hereof, is hereby approved. SECTION 2: That the South Texas Higher Education Authority, Inc., is requested to exercise its powers to acquire student loan notes incurred under the Higher Education Act of 1965, as amended, by acquiring the notes executed by persons who at the time of the making of such notes resided within this County or attended a post secondary school at the college or university level within this County. SECTION 3: Nothing in this order shall be construed as an indication by this County that it will pay or provide for the payment of any obligation of the said Authority whether heretofore or hereafter incurred, and in this connection, attention is called to Constitution of Texas wherein it is provided that a County may incur no indebtedness without having made provision for its payment, and this County hereby specifically refuses to set aside any present or future funds, assets or money for the payment of any indebtedness or obligation oL- the Authority. SECTION 4: This resolution shall be effective from and after its passage. PASSED AND APPROVED this 10th day of October, 1977. /s/ Julius R. Neunhoffer County Judge, Kerr County ATTEST: (Com. Crt. Seal) /s/ Emmie M. Muenker County Clerk and Ex-Officio Clerk of the Commissioners' Court, Kerr County, Texas o-o-o-o-o-o-o-o-o-o ,; i- Re: ORDER 13127