R-3112-10-12RESOLUTION NO. 3112-10-12(R)
' A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, AUTHORIZING THE ARTS CENTER OF NORTH TEXAS, INC.
("ACNT") TO RETURN ANY RESTRICTED ASSETS TO THE APPROPRIATE
DONORS AND TO RETURN THE LAND AS DETERMINED BY THE ACNT; TO
SATISFY ANY EXISTING LIABILITIES AND TO DISSOLVE IN ACCORDANCE
WITH APPLICABLE LAW; ANY REMAINING ASSETS SHALL BE RETURNED
IN EQUAL SHARES TO PLANO, ALLEN, AND FRISCO; AND PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, in 2004, the Cities of Plano, Frisco and Allen jointly created a local government corporation
under the authority of Chapter 431 of the Texas Transportation Code known as the Arts of Collin County
Commission, Inc. ("ACC"), for the purpose of allowing the corporation to finance, construct, own and
manage an approved project related to a performing and cultural arts facilities; and,
WHEREAS, the ACC was also established as a non-profit organization whose purposes include charitable,
scientific and/or educational activities; and,
WHEREAS, the name of the ACC corporation was later changed to the Arts Center of North Texas, Inc.
("ACNT"); and,
WHEREAS, the City Council finds that it is in the best interest of the City and serves the public health and
' welfare to allow ACNT to take actions allowed by law to dissolve its corporate status after satisfying all
liabilities and to distribute the assets in accordance herewith; and,
WHEREAS, the City Council hereby desires for the ACNT to take all lawful steps to dissolve and to return
the remaining restricted assets to the donors who choose to accept the assets, any remaining assets shall be
returned to the owner cities, after satisfying all liabilities.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY, TEXAS, THAT:
SECTION 1. The City Council of the City of Allen authorizes the ACNT to return any restricted assets
(restricted donations as a result of an agreement express or implied between the donor and the ACNT), both
real and personal, to the donors who have rights thereto as determined by the ACNT, and to return the land
donated for the construction and use of a performing arts facility to the original donors as determined by
ACNT and following such action, the City Council of the City of Allen approves of the dissolution of the Arts
Center of North Texas, Inc. and the distribution of any remaining unrestricted assets to be distributed in equal
amounts to the cities of Allen, Plano and Frisco after satisfaction of all liabilities of the ACNT.
SECTION 2. This Resolution shall become effective immediately from and after its passage.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, ON THIS THE 9TH DAY OF OCTOBER, 2012.
APP OVED:
Steph errell, MAYO
_ATTEST:
Shelley B. eorge, TRMC, CITV SECRETARY
(PGS 10-5-12.57076)