R-441-6-83V
RESOLUTION NO. 441-6-83(R)
A RESOLUTION APPROVING ISSUANCE BY ALLEN
INDUSTRIAL DEVELOPMENT CORPORATION OF AN ISSUE
IN THE AMOUNT OF 54,500,000 OF ALLEN INDUSTRIAL
DEVELOPMENT CORPORATION INDUSTRIAL
DEVELOPMENT REVENUE BONDS (EPCOR ASSOCIATES
PROJECT) SERIES 1983; 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
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 resolutitm (the "Bond Resolution") adopted June 2,
19831 1983, has authorized the issuance and sale of its 54,500,000 Industrial
Development Revenue Bonds (EPCOR ASSOCIATES Project) Series 1983 (the
"Bonds") 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 conducted such a public hearing on June 2, 1983,
following publication of notice thereof; and
WHEREAS, this City Council has re-,iewed 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;
RESOLUTION NO: 441-6-83(R)
PAGE 2
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. This Resolution shall take effect immediately from and after its
adoption.
PASSED AND APPROVED this June 2
ATTEST:
al
City Secretary, City Allen, Texas
[SEAL]
, 1983.
rY0VA'XTP Joe Farmer
Asa or Pro Tem, City of Allen, Texas
ATTACHMENT TO RESOLUTION NO. 441-6-83(R
MINUTES AND CERTIFICATION
THE STATE OF TEXAS §
COUNTY OF COLLIN §
On the 2ndday of June, 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,
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 G. Ward Paxton )
Dennis Offutt ) Councilmembers
Joe Farmer )
Don Rodenbaugh ) w
Rex Womack )
and all of such persons were present, except the following absentees: M. B. PIERSON,
MAYOR , 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
S4,500,000 of Allen Industrial Development Corporation
Industrial Development Revenue Bonds (EPCOR ASSOCIATES
Project) Series 1983; 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
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: Mayor Pro Tem Farmer, Councilman Jim McClure, Councilman Rex
Womack Councilman Don Rodenbaugh, Councilman Ward Paxton, and
NOES: Councilman Dennis Offutt
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
• Y ,
ATTACHMENT TO RESOLUTION NO. 441-6-83(R) PAGE 2
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 June 2 , 1983.
ATTEST:
City Secretary, City f Allen, Texas
7
[SEAL]
0
G -/
X ��X Joe Farmer
Mayor Pro Tem, City of Allen, Texas