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.