Res 225-82 12/7/1982RESOLUTION NO. 225-82
A RESOLUTION APPROVING A PROJECT TO BE FINANCED
BY WICHITA COUNTY INDUSTRIAL DEVELOPMENT
CORPORATION INDUSTRIAL DEVELOPMENT REVENUE
BONDS (T. C. WHITE & CO. PROJECT) SERIES 1982
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 the Act, and to loan the proceeds thereof to finance all of
part of the costs thereof; and
WHEREAS, the Issuer, by resolution (the "Bond Resolution") adopted on
December 6, 1982, has authorized the issuance and sale of its $2,430,000 Industrial
Development Revenue Bonds (T. C. White & Co. Project) Series 1982 (the "Bonds")
and by the Bond Resolution has also authorized a Loan Agreement with T. C. White
Co. (the "Company") wherein the Issuer agrees to issue and sell the Bonds to
provide funds to finance a certain commercial project of the Company (the
Project") located within the City and certain other agreements (collectively, the
Loan Agreement and such other agreements shall he referred to as the "Bond
Documents"); 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 an eligible blighted area established
by the City; and
WHEREAS, this Board of Aldermen, 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 Board of Aldermen intends, by adoption of this Resolution, to
approve the Project;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN OF
THE CITY OF WICHITA FALLS, TEXAS:
Section 1. The City, acting through this Board of Aldermen, hereby approves
the Project.
Section 2. The City, acting through this Board of Aldermen, 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 Board of
Aldermen 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 7th day of December, 1982.
i , Vichitac. of Falls, TexasCi •,
ATTEST:
J-_-_I , ii-z#4,--
ity Clerk, City of Wichita Falls,
Texas
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APPROVED AS TO FORM:
By:
City Attorney, City of Wichita Falls,
Texas
MINUTES AND CERTIFICATION
THE STATE OF TEXAS
COUNTY OF WICHITA
On this the 7th day of December, 1982, the Board of Aldermen 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 Board of Aldermen, which officers and members are as
follows, to-wit:
Gary D. Cook, Mayor Gene A. Shearman
Wilma Thomas, City Clerk John W. Hampton
Carol G. Russell Members of
Craig A. Wilson Board of
Howard M. Morris Aldermen
Horace 0. Boston
and all of such persons were present, except the following absentees: None
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 (T. C. White & Co. Project) Series 1982
The Resolution, a full, true and correct copy of which is attached hereto was
read and reviewed by the Board of Aldermen.
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 Board of
Aldermen. After all persons present desiring to speak had addressed the Board of
Aldermen, upon motion duly made and seconded, the public hearing was declared
closed by the following vote:
AYES: All above
NOES: None
Upon motion duly made and seconded, the Resolution was finally passed and
adopted by the following vote:
AYES: Al 1 above
NOES: None
The Mayor then declared the Resolution passed and signed and approved the
same in the presence of the Board of Aldermen.
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and to
reflect accurately the duly constituted officers and members of the Board of
Aldermen 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 7th day of December, 1982.
p*----
ayor, C. of Wichita Falls`Texas
ATTEST:
j/-4
City Clerk, C it of Wichita Falls, Texas
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