Opinion Number

Dear Mr. Clements:

As the Chairperson of Trustees for the East Baton Rouge Mortgage Finance Authority (hereinafter referred to as "the Authority"), you have requested the opinion of this office regarding a Trustee's non-compliance with residency requirements, which are contained in the Authority's Trust Indenture dated August 17, 1974 and amended on January 10, 1979 and April 20, 1982. Specifically, you asked the following questions:

1. What is the status of the Authority's bonds and board documents approved and executed by Henry J. Henagan, III, during the period in which he did not satisfy…