Res 240-83 12/8/1983s
MINUTES AND CERTIFICATION
THE STATE OF TEXAS X
COUNTY OF WICHITA X
On this the 8th day of December, 1983, the City Council of the
City of Wichita Falls, Texas, convened in Called Meeting in 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 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 absentee:
Horace O. Boston, thus constituting 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
Corporation Industrial Development Revenue Bonds
Hotel Associates of Wichita Falls, Texas, Ltd.
Project)
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 per-
sons 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 :All
NOES : None
Upon motion duly made and seconded, the Resolution was finally
passed and adopted by the following vote:
AYES :All
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 as of this the 8th day of December, 1983 .
M Ci o Wichita Falls,
exa
ATTEST:
City Clerk, City of
Wichita Falls, Texas
SEAL]
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RESOLUTION NO. 240-83
RESOLUTION APPROVING A PROJECT TO BE FINANCED BY
WICHITA COUNTY INDUSTRIAL DEVELOPMENT CORPORATION
INDUSTRIAL DEVELOPMENT REVENUE BONDS (HOTEL
ASSOCIATES OF WICHITA FALLS, TEXAS, LTD . PROJECT)
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 December 5, 1983 , the Issuer adopted a Resolution
Relating to the Issuance of Development Revenue Bonds at the request
of Hotel Associates of Wichita Falls, Texas, Ltd. (the "User") ,
wherein the Issuer agreed to issue and sell its Industrial Develop-
ment Revenue Bonds in an amount not expected to exceed $10, 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 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 or adjacent to 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,
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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 purposes in
performing its duties under the Act and the Commission Rules that:
a) The Project is located in or adjacent to 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 immediately from
and after its adoption.
PASSED AND APPROVED this 8th day of December, 1983 .
0.00,4: 15;
Ma : .O` Ci of Wichita Falls,
xa
ATTEST:
LY-tiztoat--' it-G9;i'L
City Clerk, City of
Wichita Falls, Texas
SEAL]
APPROVED AS TO FORM:
City Attorney, City of
Wichita Falls , Texas
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