This Board of Directors provides a means to finance the cost of residential ownership and development that will provide decent, safe, and sanitary housing at affordable prices to residents of local governments. It was organized and incorporated to carry out the purposes of Chapter 394 of the Texas Local Government Code. The Corporation has authority to sell bonds in order to accomplish the purposes of Chapter 394. The AHFC is governed by its Charter and Bylaws and Chapter 394. Five members, serve a six-year term, and are subject to term limitation policy. Meetings are held as needed.