|Issuer:||Michael S. Dukakis|
Table of Contents
WHEREAS, the Massachusetts Housing Finance Agency (MHFA) was organized under the laws of the Commonwealth for the primary purpose of providing low and moderate income housing to the citizens of the Commonwealth; and
WHEREAS, uncertainties in the money markets have threatened to cause MHFA to be unable to continue to provide housing in accordance with its mandate; and
WHEREAS, the Commonwealth's commitment to provide suitable housing for its citizens must be kept; and
WHEREAS, legislative support has been expressed for establishment of a special commission to consider the immediate and future financial requirements of MHFA;
WHEREAS, the study commission has been in operation since November, 1975, the existence of which is appropriate to recognize by the issuance of an executive order;
NOW, THEREFORE, I, Michael S. Dukakis, Governor of the Commonwealth of Massachusetts, by virtue of all authority vested in me by law, do hereby issue this order confirming the establishment of a special MHFA study commission.
Article I. Name; Number of Commissioners
The special commission shall be known as the Massachusetts Housing Finance Agency Study Commission. It shall consist of seven members, who shall possess special skills and knowledge in the areas of legislation, housing, housing financing, and urban problems, and the Chairman shall be designated by the Governor. (The original members of the Commission are identified by the membership list attached to this order.)
Article II. Meetings
Meetings of the Commission shall be held at such times and places as the commission shall determine.
Article III. Purposes and Responsibilities
3.1 The Commission shall study the immediate and future financial requirements of the MHFA.
3.2 The Commission shall determine the actions that may be taken to restore and preserve investor confidence in MHFA securities.
3.3 The Commission shall determine whether or not legislative action is required to place the MHFA in a more flexible and secure posture as a housing finance agency.
3.4 The Commission shall be responsible for seeking such funds and other resources (including borrowing state and private sector personnel) as it shall require to carry out its purposes.
3.5 The Commission shall prepare a report, which shall be made to the governor and the legislature, and to such other agencies and persons as the Commission shall determine.
Article IV. Interagency Cooperation
The Commission shall be entitled to and shall receive cooperation from every agency, department, commission or office of the commonwealth.
Given at the Executive Chamber in Boston this the 15th day of April in the year of Our Lord, one thousand nine hundred and seventy-six and of the Independence of the United States the two hundredth.
MICHAEL S. DUKAKIS
Commonwealth of Massachusetts
Secretary of the Commonwealth