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HomeMy WebLinkAboutR-421-11-82RESOLUTION NO. 421-11-82 (R) RESOLUTION APPROVING THE RESOLUTION (AUTHORIZING INDUCEMENT AGREEMENT) WHEREAS, the City of Allen (the "Unit"), a political subdivision, has approved and authorized the creation of the Allen Industrial Development Corporation (the "Corporation") as a Texas non-profit corporation, pursuant to the provisions of 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 commercial, industrial and manufacturing enterprises to promote and encourage employment and the public welfare; and WHEREAS, the Corporation is authorized by the Act to issue industrial development revenue bonds on behalf of the Unit for the purpose of paying all or part of the cost of a manufacturing "project," as defined in the Act, and to loan the proceeds of the bonds to finance all or part of the costs of the project; and WHEREAS, the Corporation on November 18, 1982, approved the Resolution (Authorizing Inducement Agreement) (the "Inducement Resolution") and authorized the execution of an Agreement to Issue Bonds with EPCOR INCORPORATED (the "User"), and pursuant to such agreement, the Corporation has agreed, subject to certain conditions, to issue its tax exempt industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated to be $7,500,000, to provide fluids to defray all or part of the cost of acquiring and constructing certain facilities to be constructed by or to be leased or sold to the User; and WHEREAS, the Local Regulations of the Corporation (the "Local Regulations") require that the Governing Body of the Unit approve by written resolution any Inducement Resolution authorizing an agreement to issue bonds, which resolution and agreement shall set out the amount and purpose of such bonds; and WHEREAS, the City Council (the "Governing Body") has reviewed the form and substance of the Inducement Resolution and Agreement to Issue Bonds between the Corporation and the User and intends, by adoption of this written Resolution, to approve said resolution and agreement in accordance with the Local Regulations; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS: Section 1. That the Inducement Resolution and Agreement to Issue Bonds, in the form attached hereto, entered into by and between the Corporation and the User, pursuant to which the Corporation agrees, subject to the conditions stated therein, to authorize and issue its industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated to be $7,500,000 to provide funds to defray all or part of the cost of the acquisition and construction of the project described in said agreement, is hereby approved. Section 2. The meeting at which this Resolution is considered is open to the public as required by law, and public notice of the time, place and purpose of said meeting was given_ as required by Article 6252-17, Vernon's Texas Civil Statutes, as amended. Section 3. This Resolution shall take effect immediately from and after its adoption. PASSED AND APPROVED this 18th day of November, 1982. Mayor, City of Allen, Texas ATTEST: City Secretary, City f Allen, Texas City Attorney, City of Alle , Texas J [SEAL] r r MINUTES AND CERTIFICATION PERTAINING TO PASSAGE OF A RESOLUTION PROVIDING FOR THE ISSUANCE OF REVENUE BONDS BY ALLEN INDUSTRIAL DEVELOPMENT CORPORATION AND RELATED MATTERS THE STATE OF TEXAS COUNTY OF COLLIN On this the 18 day of November, 1982, the City Council of the City of Allen, 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-�k t: M. B. Pierson, Mayor Jim McClure ) Marty Hendrix, City Secretary H. R. Daugherty ) Joe Fariner, Mayor Pro -tem Don Rodenbaugh ) Councilmembers Ward Paxton ) Dennis Offutt ) and all of such persons were present, except the following absentees: Councilman Ward Paxton , thus constituting a quorum. Whereupon, among other business, the following was transacted, to -wit: A written Resolution hearing the following caption was introduced: A Resolution approving issuance by Allen Industrial Development Corporation of an issue in the amount of S7,500,000 of Allen Industrial Development Corporation Industrial Development Revenue Bonds (EPCOR Incorporated Project) Series 1982; and Approving the Resolution of the Issuer Authorizing the Bonds and all Agreements Authorized thereby. The Resolution, a full, true and correct copy of which is attached hereto was read and reviewed by the City Council. Thereupon, it was moved by Couneilmember McClure and seconded by Councitmember Offutt that the Resolution be finally passed and adopted. The Mayor put the motion to—a vote of the members of the City Council, and the Resolution was finally passed and adopted by the following vote: AYES: NOES: The -Mayor then declared the Resolution passed and approved and signed it 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 Citi-, 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 on this the 18th day of November , 1982. ATTEST: 1 Secretary-, City of A en, Texas [SEAL] r - Mayor, City of Allen, Texas F MINUTES AND CERTIFICATION PERTAINING TO PASSAGE OF A RESOLUTION PROVIDING FOR THE ISSUANCE OF REVENUE BONDS BY ALLEN INDUSTRIAL DEVELOPMENT CORPORATION AND RELATED MATTERS THE STATE OF TEXAS COUNTY OF COLLIN On this the 18 day of November, 1982, the City Council of the City of Allen, 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: M. B. Pierson, Mayor Jim McClure ) Marty Hendrix, City Secretary H. R. Daugherty ) Joe Farmer, Mayor Pro -tem Don Rodenbaugh ) Councilmembers Ward Paxton ) Dennis Offutt ) and all of such persons were present, except the following absentees: Councilman Ward Paxton , 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 issuance by Allen Industrial Development Corporation of an issue in the amount of 57,500,000 of Allen Industrial Development Corporation Industrial Development Revenue Bonds (EPCOR Incorporated Project) Series 1982; and Approving the Resolution of the Issuer Authorizing the Bonds and all Agreements Authorized thereby. The Resolution, a full, true and correct copy of which is attached hereto was read and reviewed by the City Council. Thereupon, it was moved by Councilmember McClure and seconded by Counciimember Of futt that the Resolution be finally passed and adopted. The Mayor put the motion to a vote of the members of the City Council, and the Re§olution was finally passed and adopted by the following vote: AYES: 6 Mayor Pierson, Council Members: McClure, Offutt, Daugherty, Rodenbaugh, Farmer NOES: 0 The Mayor then declared the Resolution passed and approved and signed it 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 on this the 18thday of November , 1982. ATTEST: Secretary, City of len, Texas [SEAL] Mayor, City of Allen, Texas RESOLUTION NO. 421-11-82 (R) RESOLUTION APPROVING THE RESOLUTION (AUTHORIZING INDUCEMENT AGREEMENT) WHEREAS, the City of Allen (the "Unit"), a political subdivision, has approved and authorized the creation of the Allen Industrial Development Corporation (the "Corporation") as a Texas non-profit corporation, pursuant to the provisions of 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 commercial, industrial and manufacturing enterprises to promote and encourage employment and the public welfare; and WHEREAS, the Corporation is authorized by the Act to issue industrial development revenue bonds on behalf of the Unit for the purpose of paying all or part of the cost of a manufacturing "project," as defined in the Act, and to loan the proceeds of the bonds to finance all or part of the costs of the project; and WHEREAS, the Corporation on November 18, 1982, approved the Resolution (Authorizing Inducement Agreement) (the "Inducement Resolution") and authorized the execution of an Agreement to Issue Bonds with EPCOR INCORPORATED (the "User"), and pursuant to such agreement, the Corporation has agreed, subject to certain conditions, to issue its tax exempt industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated to be $7,500,000, to provide funds to defray all or part of the cost of acquiring and constructing certain facilities to be constructed by or to be leased or sold to the User; and WHEREAS, the Local Regulations of the Corporation (the "Local Regulations") require that the Governing Body of the Unit approve by written resolution any Inducement Resolution authorizing an agreement to issue bonds, which resolution and agreement shall set out the amount and purpose of such bonds; and WHEREAS, the City Council (the "Governing Body") has reviewed the form and substance of the Inducement Resolution and Agreement to Issue Bonds between the Corporation and the User and intends, by adoption of this written Resolution, to approve said resolution and agreement in accordance with the Local Regulations; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS: Sectjon 1. That the Inducement Resolution and Agreement to Issue Bonds, in the form attached hereto, entered into by and between the Corporation and the User, pursuant to which the Corporation agrees, subject to the conditions 'stated therein, to authorize and issue its industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated to be 57,500,000 to provide funds to defray all or part of the cost of the acquisition and construction of the project described in said agreement, is hereby approved. w Section 2. The meeting at which this Resolution is considered is open to the public as required by law, and public notice of the time, place and purpose of said meeting was given as required by Article 6252-17, Vernon's Texas Civil Statutes, as amended. Section 3. This Resolution shall take effect immediately from and after its adoption. PASSED AND APPROVED this 18th day of November, 1982. Mayor, City of Allen, Texas ATTEST: maj�- City Secretary, C ty of Allen, Texas City Attorney, City of Allen, Texas [SEAL]