Res 103-83 5/17/1983MINUTES AND CERTIFICATION
THE STATE OF TEXAS )
COUNTY OF WICHITA
On this the 17th day of May 1983, the City
Council of the City of Wichita Falls, Texas, convened in
Regular Meeting at the regular meeting place thereof in the
City Hall, the meeting being open to the public and notice
of such meeting, giving the date, place and subject thereof,
having been posted or prescribed by Article 6252-17, V.A.T.C .S . ,
and the roll was called of the duly constituted officers and
members of the City Council which officers and members are
as follows, to-wit:
Gary D . Cook, Mayor Tom E . Swift
Wilma Thomas , City Clerk Charles F . Harper )
Charles Thomas Members of
Craig A. Wilson ) City Council
Howard M. Morris )
Horace O. Boston )
and all of such persons were present, except the following
absentees: None thus constituting a quorum.
Whereupon, among other business , the following was trans-
acted, to-wit: A written Resolution bearing the following
caption was introduced:
A Resolution Approving A Project To Be Financed By
Wichita County Industrial Development Corporation
Industrial Development Revenue Bonds (KYM Partner-
ship Project) Series 1983
The Resolution, a full, true and correct copy of which
is attached hereto was read and reviewed by the City Council .
Thereupon, the Mayor declared open the meeting for the
purpose of conducting a public hearing relative to consider-
ation of such Resolution. All persons desiring to speak for
or against the Resolution were invited to address the City
Council . After all persons present desiring to speak had
addressed the City Council, upon motion duly made and
seconded, the public hearing was declared closed by the
following vote:
AYES: Mayor Cook, Councilmen Swift, Thomas, Harper, Wilson, Morris,
and Boston
NOES: None
Upon motion duly made and seconded, the Resolution was
finally passed and adopted by the following vote:
AYES: Mayor Cook, Councilmen Swift, Thomas, Harper, Wilson, Morris,
and Boston
NOES: None
The Mayor then declared the Resolution passed and
signed and approved the same in the presence of the City
Council .
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT
and to reflect accurately the duly constituted officers and
members of the City Council of such City, and the attached
and following copy of such resolution is hereby certified to
be a true and correct copy of an official copy thereof on
file among the official records of the City, all of this the
7A/day of _ 1983 .
0.1.—..... , .04e'
r
M_ . . ! C. - • of Wichita Falls,
exa-
ATTEST:
je..-tfrYta..}eLir4/4,---)14-'4-d-/
City Clerk, City of
Wichita Falls , Texas
SEAL]
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RESOLUTION NO. M"
A RESOLUTION APPROVING A PROJECT TO BE FINANCED
BY WICHITA COUNTY INDUSTRIAL DEVELOPMENT
CORPORATION INDUSTRIAL DEVELOPMENT REVENUE
BONDS (KYM PARTNERSHIP PROJECT) SERIES 1983
WHEREAS, the County of Wichita (the "Unit") has approved
and authorized the creation of the Wichita County Industrial
Development Corporation (the "Issuer") as a Texas nonprofit
corporation, pursuant to the Development Corporation Act of
1979 , as amended, Article 5190 .6 , Vernon' s Annotated Civil
Statutes (the "Act") , to act on behalf of the Unit to promote
and develop manufacturing and commercial enterprises to promote
and encourage employment and the public welfare; and
WHEREAS , the Issuer is authorized by the Act to issue its
revenue bonds on behalf of the County of Wichita for the
purpose of paying all or part of the costs of a "project" , as
defined in the Act, and to loan the proceeds thereof to
finance all or part of the costs thereof; and
WHEREAS, on October 19 , 1981 the Issuer adopted a
Resolution Relating to the Issuance of Development Revenue
Bonds at the request of KYM Partnership (the "User") wherein
the Issuer agreed to issue and sell its Industrial Development
Revenue Bonds in an amount not expected to exceed $1, 750 , 000
the "Bonds") to provide funds to finance a certain commercial
project of the User (the "Project") located within the City;
WHEREAS, the Texas Industrial Commission' s Rules for
Issuing Industrial Revenue Bonds (the "Commission Rules")
require, with respect to commercial projects in "eligible
blighted areas, " the city that established the eligible
blighted area to approve projects located therein after
posting notice and holding a public hearing thereon; and
WHEREAS , the Project is located within an eligible
blighted area established by the City; and
WHEREAS, this City Council, after posting notice in
accordance with law and before the adoption of this Resolution,
conducted a public hearing relative to its approval of the
Project pursuant to and in accordance with the Commission
Rules; and
WHEREAS, this City Council intends, by adoption of this
Resolution, to approve the Project;
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF WICHITA FALLS, TEXAS:
Section 1 . The City, acting through this City Council,
hereby approves the Project.
Section 2 . The City, acting through this City Council,
hereby finds , determines and declares , but solely for its
own purposes in performing its duties under the Act and the
Commission Rules that:
a) The Project is located in an eligible blighted
area designated by the City and will contribute significantly
to the fulfillment of the redevelopment objectives of the
City for such eligible blighted area;
b) The Project conforms to the resolution adopted by
the City Council of the City, pursuant to the Act and the
Commission Rules , designating the eligible blighted area in
which the Project is located; and
c) The Project is in furtherance of the public purposes
of the Act.
Section 3 . This Resolution shall take effect immedi-
ately from and after its adoption .
PASSED AND APPROVED this /, &day of `, , 1983 .
i
i r I
C ' - of Wichita Falls,
exa
ATTEST:
1 - _':Adoldc_.! ' ij5,614-2,64
City Clerk, City of
Wichita Falls, Texas
SEAL]
APPROVED AS TO FORM:
By: .//C w
City Attor e of
Wichita F 1.1-x/ exas
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