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Home My WebLink AboutR-480-12-83RESOLUTION NO. 480-12-83(R) A RESOLUTION APPROVING ISSUANCE BY ALLEN INDUSTRIAL DEVELOPMENT CORPORATION OF AN ISSUE OF ALLEN INDUSTRIAL DEVELOPMENT CORPORATION INDUSTRIAL DEVELOPMENT REVENUE BONDS (EPCOR PROJECT) SERIES 1983A; APPROVING THE RESOLUTION OF THE ISSUER AUTHORIZING THE BONDS, THE ISSUANCE OF THE BONDS AUTHORIZED THEREBY AND THE PLAN OF FINANCING APPROVED THEREBY AND THE BOND DOCUMENTS; AND AUTHORIZING THE MAYOR TO SIGN THE APPROVAL REQUIRED BY THE INTERNAL REVENUE CODE WHEREAS, the City of Allen (the "Unit") has approved and authorized the creation of Allen 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 Texas Civil Statutes (the "Act"), to act on behalf of the Unit to promote and develop industrial and manufacturing enterprises; and WHEREAS, the Issuer is authorized by the Act to issue its revenue bonds on behalf of the Unit 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 December 12, 1983, has authorized the issuance and sale of its Industrial Development Revenue Bonds (EPCOR Project) Series 1983 (the "Bonds'), in an aggregate principal amount not to exceed $1,300,000, and by the Bond Resolution has also authorized a Loan Agreement with EPCOR Associates (the "Company") wherein the Issuer agrees to issue and sell the Bonds to provide funds to finance a certain project of the Company (the "Project') located within the Unit, and certain other agreements of the Issuer in connection therewith (collectively, the Loan Agreement and such other agreements shall be referred to as the "Bond Documents'); and WHEREAS, the Act requires that the governing body of the Unit approve, by written resolution, any agreement to issue bonds approved by the Issuer; and WHEREAS, Section 103(k) of the Internal Revenue Code of 1954, as amended, requires the Unit's approval of the issuance of the Bonds and authorizes its approval of a plan of financing additional facilities related to the Project after a public hearing following reasonable public notice; and WHEREAS, the Issuer will conduct such a public hearing on December 23, 1983, following publication of notice thereof; WHEREAS, this City Council has reviewed the Bond Resolution and the minutes relative thereto and, by adoption of this Resolution, intends to approve the Bond Resolution, the issuance of the Bonds, the plan of financing approved by the Bond Resolution and the Bond Documents and to make the findings required by the Act to approve the Project; and ozioy � RESOLUTION NO. 480-12-83(R) Page 2 - WHEREAS, this City -Council desires to grant the Mayor of the City of Allen the -authority to sign the approval required by Section 103(k) -of -the Internal Revenue Code of 1954, as amended after the public hearing; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, TEXAS: Section 1. The Unit, acting by and through through this City Council, hereby approves: (a) the Bond Resolution and the plan of financing approved thereby; (b) the issuance of the Bonds in the amount and for the purposes referred to in the preambles hereof and as described in the Bond Documents; and (c) the Bond Documents, copies of which are on file among the records of this meeting. Section 2. The Mayor of the City of Allen is hereby granted the authority to sign the approval required by Section 103(k) of the Internal Revenue Code of 1954, as amended after the Issuer holds a public hearing on December 23, 1983. Section 3. This Resolution shall take effect immediately from and after its adoption. PASSED AND APPROVED this December 15, 1983. Mayor, City of Allen, Texas ATTEST: M I City Secretary, Ci of Allen, Texas [SEAL] ozioy -2- Attachment to Resolution No. 480-12-83(R) MINUTES AND CERTIFICATION THE STATE OF TEXAS COUNTY OF COLLIN On the 15th day of December, 1983, 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, hour, place and subject thereof, having been posted as prescribed by Article 6252-17, V.A.T.C.S., and the roll of the duly constituted officers and members of the City Council was called, which officers and members are as follows, to -wit: M. B. Pierson, Mayor Jim McClure ) Marty Hendrix, City Secretary Rex Womack ) Joe Farmer, Mayor Pro -Tem Don Rodenbaugh ) Councilmembers Ward Paxton ) Dennis Offutt ) and all of such persons were present, except the following absentees: 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 of Allen Industrial Development Corporation Industrial Development Revenue Bonds (EPCOR Project) Series 1983A; and approving the Resolution of the Issuer authorizing the Bonds, the issuance of the Bonds authorized thereby and the plan of financing approved thereby and the Bond Documents; and authorizing the Mayor to sign the approval required by the Internal Revenue Code The Resolution, a full, true and correct copy of which is attached hereto was read and reviewed by the City Council. Upon motion duly made and seconded, the Resolution was finally passed and adopted by the following vote: AYES: All present NOES: None The Presiding Officer 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 oaioy Attachment to Resolution No. 480-02-83(R) 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 December 15, 1983. Mayor, Ci y of Allen, Texas ATTEST: City Secretary, Cit of Allen, Texas [SEAL] o21oy -2- RAY HUTCHISON RAYFORD PRICE JOHN F BOYLE, JR BEN A BROOKS ROBERT E. JOHNSON ROBERT D. DRANSFIELD ALLEN MOON JAMES D HOLLAND RICHARD A. YAHR JAMES J. PANIPINTO MARTHA A. PEAK CHRISTINE YOUNGS ROBERT E. JOHNSON, JR. ADRIENNE C. LEONARD SANDRA L MARHOEFER JOHN W. EASTMAN LAW OFFICES HUTCHISON PRICE BOYLE & BROOKS A PROFESSIONAL CORPORATION 211 NORTH ERVAY BUILDING, SUITE 1500 DALLAS, TEXAS 75201 (214) 742-3882 December 20, 1983 Ms. Marty Hendrix, City Secretary City of Allen City Hall 1 Butler Circle Allen Texas 75002 Re: EPCOR Project Dear Marty: AUSTIN OFFICE' 1108 LAVACA STREET, SUITE 400 AUSTIN, TEXAS 78701 (512) 477- 4121 I am enclosing a revised executed copy of the excerpt from the City Council minutes for the above referenced project. Yours truly, HUTCHISON PRICE BOYLE & BROOKS Christine Youngs CY/ck Enclosure Q sb -Iz- '143(vz-) MINUTES AND CERTIFICATION THE STATE OF TEXAS § COUNTY OF COLLIN § Willette Rosson, President, as appointee of the Board of Directors of Allen Industrial Development Corporation convened on the date and at the hour and place specified in the notice of the public hearing conducted at such meeting, such notice having been published in at least once in a newspaper of general circulation in the City of Allen, Texas, pursuant to Section 103(k) of the Internal Revenue Code of 1954, as amended. Therupon, Willette Rosson declared open the public hearing on the proposed issuance of the bonds, the facilities to be financed thereby and the plan of financing. All persons desiring to comment with respect to the issuance of the bonds, the facilities to be financed thereby and the plan of financtig were invited to address the meeting. The identity of the persons who addresed the meeting and a summary of their comments is attached to these Minutes as Exhibit A. After all persons present desiring to speak had addressed the meeting, the public hearing was declared closed. MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and to reflect accurately the proceedings contained herein all on this December 23, 1983. Authorized Officer Title: President Ak WHEREAS, the City of Allen (the "Unit") has approved and authorized the creation of the Allen 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 Texas Civil Statutes (the "Act"), to act on behalf of the Unit; and WHEREAS, the Issuer, by resolution (the"Bond Resolution") adopted December 12, 1983, has authorized the issuance and sale of $1,300,000 of its Industrial Development Revenue Bonds (EPCOR Project) Series 1983A (the "Bonds"), and by the Bond Resolution has also authorized certain agreements of the Issuer in connection therewith (collectively, the agreements shall be referred to as the "Bond Documents"); and WHEREAS, Section 103(k) of the Internal Revenue Code of 1954, as amended (the "Code"), requires the cheif elected executive officer to approve the issuance of the Bonds and authorize the approval of a plan of financing additional facilities related to the Project after a public hearing following reasonable public notice; and WHEREAS, the Issuer conducted such a public hearing on December 23, 1983, following publication of notice thereof as reflected on Exhibit B attached hereto; I am the acting Chief Executive Officer of the City of Allen; I now hereby approve, solely for purposes of satisfying Section 103(k) of the Code, issuance of the Bonds and the plan of financing approved thereby. This approval shall take effect immediately. APPROVED THIS December 23, 1983. Mayor, City of Allen ANk EXHIBIT A MINUTES OF PUBLIC HEARING December 23, 1983 For EPCOR Associates This hearng was held at the Community Room, Texas American Bank, 202 W. Main, Allen, Texas. Willette Rosson declared the Public Hearing open at 9:00 A.M. There being no one present to speak against this projcet, the meeting was declared closed at 9,• lo A.M. Aft PUBLISHERS AFFIDAVIT THE STATE OF TEXAS COUNTY OF DALLAS Before me, the undersigned, a Notary Public, this day personally came Irma Palmer , who, after being duly sworn, according to the law, says that Etie is the Asst. Billing Manager of the TIMES HERALD PRINTING COMPANY, Publishers of the DALLAS TIMES HERALD, a News aper published in Dallas, in said County and Daily P State, and that the attached ad was published in said paper St , 19 83. on December 9 Subscribed and sworn to before me, this day of December 20 1983 - NOTARY PUBLIC DALLAS COUNTY TEXAS NOTICE OF MEETING OF ALLEN INDUSTRIAL DEVELOPMENT CORPORATION Allen Industrial Development Corporatioii (the "Issuer") will hood a public weeting at 8:30 a.m. on December 12, 1983, at the Community Room, Texas American Bank, 202 West Main, in Allen, Texas. The agenda will include the consideration of a resolution providing for the financing by the Issuer of an industrial facility or facilities for EPCOR (the "Project") to be located within the City of Allen, Texas, through the issuance of one or more series of the Issuer's revenue bonds in an aggregate principal amount not to exceed $111,300,000 (the "Bonds'); authorizing and providing for the issuance and confirming the sale of the Bonds; approving any plan of financing related to the Project; and resolving related matters. POSTED this 9th day of December, 1983, at 9:00 a.m, in accordance with Article 6252-17, Vernon's Aimotated Texas Civil Statutes, as amended. 0210y s/Willette Rosson President, City of Allen Industrial Development Corporation I, the urdcrsigned ou•horlty, do hereby cerci y that thll Notice of Mce ting was po:'ed on tie bulletin bard, In the City Hall of the City of Aller, Texas, a place r: -•+s cicnl and readily accessible to the 5erera1 pu';i:c of all limes, old sold Notice was posted on the follo,ving data and Vrnoi �/'C•r AJ�L=,� � of Q � �� OW remoincd so posted continuously for at Ieest 72 I.•ur ding the scheduled 6 of said meorin�. . ) 6 $ecrelury, City of Allen, Texc: