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SENATE RESOLUTION NO. 42

	WHEREAS, The Senate of the State of Texas recognizes the 
importance of ensuring home ownership and financial well-being 
for senior Texans and designates May 11, 2004, as Reverse 
Mortgage Day in the Lone Star State; and
	WHEREAS, Residents of Texas take great pride in the 
homestead laws put into place by the Constitutional Convention
of 1875; and
	WHEREAS, Since the funding of the first reverse mortgage
in Texas in 2001, this essential service has become a key step in 
allowing senior citizens in our state to live out their golden 
years in the comfort and safety of their own homes; and
	WHEREAS, In less than four years, Texas has attained the 
third highest ranking in the United States for total number of 
reverse mortgages originated; based on this national rate, it
is estimated that the Lone Star State could become the largest 
originator of reverse mortgages in the country by the end of the 
decade; and
	WHEREAS, By educating the public on the availability of 
this important benefit and on the need for responsible financial 
planning, reverse mortgages will help ensure the long-term 
safety and welfare of our most experienced Texas citizens; now, 
therefore, be it
	RESOLVED, That the Senate of the State of Texas,
78th Legislature, 4th Called Session, hereby recognize May 11, 2004,
as Reverse Mortgage Day in Texas and commend members of the Texas 
Association of Reverse Mortgage Lenders and its president,
W. Scott Norman, for their outstanding efforts in behalf of 
residents of the Lone Star State.
                                                                          Carona




________________________________ 
    President of the Senate
 
    I hereby certify that the 
above Resolution was adopted by 
the Senate on May 6, 2004.



________________________________ 
    Secretary of the Senate



________________________________ 
     Member, Texas Senate