SENATE RESOLUTION NO. 24

(By Senators Chafin and Tomblin, Mr. President)


Recognizing the West Virginia Housing Development Fund for its contributions to the citizens of West Virginia and for achieving a AAA credit rating from Standard & Poor's Corporation.

Whereas, The West Virginia Housing Development Fund was created in 1968 to provide safe, decent and sanitary housing for the citizens of West Virginia; and
Whereas, Despite the termination of many federal programs that were established to subsidize housing costs, the West Virginia Housing Development Fund has remained steadfast in its mission to make affordable housing a reality for our citizens. Bonds totaling two billion dollars have made sixty-five thousand units of housing available in West Virginia; and
Whereas, This outstanding contribution by the West Virginia Housing Development Fund, under the leadership of executive director Joe W. Hatfield, was recently awarded a AAA credit rating by Standard & Poor's Corporation, a credit rating service to the housing finance bond issues of the West Virginia Housing Development Fund, making it one of only four housing finance agencies in the United States to enjoy such a rating for similar bonds; and
Whereas, This AAA credit rating will allow the West Virginia Housing Development Fund, and the citizens of West Virginia to benefit from lower borrowing costs to meet the needs for housing; therefore, be it
Resolved by the Senate:
That the Senate hereby congratulates the employees, officers and directors of the West Virginia Housing Development Fund for their contributions to the citizens of West Virginia byfor providing them with lower borrowing costs to meet their needs for housing; and, be it
Further Resolved, That the Senate congratulates the West Virginia Housing Development Fund for achieving an AAA credit rating from Standard & Poor's Corporation, making itthem one of only four housing finance agencies in the United States to achieve such a rating; and, be it
Further Resolved, That the Clerk is hereby directed to forward a copy of this resolution to Joe W. Hatfield, executive director of the West Virginia Housing Development Fund.