Res 162-83 9/6/1983off -13
MINUTES AND CERTIFICATION
THE STATE OF TEXAS X
COUNTY OF WICHITA X
On this the 6th day of September, 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 as 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 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 pers ns werF present, except the following absentees:
yt thus
constituing a quorum. Whereupon, among other business, the following
was transacted, to-wit: A written Resolution bearing the following
caption was introduced:
A Resolution Approving A Project To Be Financed
By Wichita County Industrial Development Corpora-
tion Industrial Development Revenue Bonds (T.C .
White & Company' 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 consideration 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:
NOES: VrI-2
Upon motion duly made and seconded, the Resolution was finally
passed and adopted by the following vote:
AYES : d
NOES:
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 he official records of the City,
all as of this the t/ day of .!k - -2_,) 1983 .
Li
Ma it .f Wichita Falls, Texas
ATTEST:
124
City Clerk, City of Wichita Falls ,
Texas
SEAL]
RESOLUTION NO. 162-83
RESOLUTION APPROVING A PROJECT TO BE FINANCED BY
WICHITA COUNTY INDUSTRIAL DEVELOPMENT CORPORATION
INDUSTRIAL DEVELOPMENT REVENUE BONDS (T.C . WHITE
COMPANY 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 non-profit 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 theg
Act, and to loan the proceeds thereof to finance all or part of the
costs thereof; and,
WHEREAS, on August 15, 1983, the Issuer adopted a Resolution
Relating to the Issuance of Development Revenue Bonds at the request
of T.C . White & Company (the "User") wherein the Issuer agreed to
issue and sell its Industrial Development Revenue Bonds in an amount
not expected to exceed $2, 200 , 000 (the "Bonds") to provide funds
to finance a certain commercial project of the User (the "Project")
located within the City; and,
WHEREAS, the Texas Industrial Commission's Rules for Issuing
Industrial Revenue Bonds (the "Commission Rules") require, with
respect to commercial projects in "eligible blighted area, " the City
that established the eligible blighted area to approve projects located
thereon 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.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
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 purpose
in performing its duties under the Act and the Commission Rules that:
a) The Project is located in an eligible blighted area desig-
nated 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 immediately from and
after its adoption.
PASSED AND APPROVED this the 6th day of September, 1983 .
0g:::
11.°
11.1.
1
ay ity Wichita Falls, Texas
ATTEST:
42,64/ fr?4 2,(4-----,:1"/)
City Clerk, City of Wichita Falls,
Texas
SEAL]
APPROVED AS TO FORM:
gaBy. 4re
ity At orne4e/, Ary of
Wichita "al Texas