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HomeMy WebLinkAboutOrdinance 10473K r ~' 'ice f .'i "'_: x ORDINANCE NO . / © ~~^. AN ORDINANCE REPEALING ORDINANCE N0. 10382 WHICH APPROVED THE ARTICLES OF INCORPORATION OF THE DFW AIRPORT FACILITY IMPROVEMENT CORPORATION; PROVIDING FOR ENGROSSMENT AND ENROLLMENT; AND PROVIDING AN EFFECTIVE DATE. BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: SECTION 1. That Ordinance No 10382 adopted on September 5, 1989, and approving the Articles of Incorporation of the DFW Airport Facility Improvement Corporation, be and is hereby repealed. SECTION 2. That nothing contained herein shall be deemed to affect the provisions of Ordinance No , of even date herewith, which approves the Articles of Incorporation of the DFW Airport Facility Improvement Corporation, as revised SECTION 3. The City Secretary of the City of Fort Worth is hereby directed to engross and enroll this ordinance by copying the cap- tion and effective date in the minutes of the City Council and by filing the ordinance in the ordinance records of the City. ,~ '.. ~ •M y r ~~ ~~ SECTION 4. This ordinance shall be in full force and effect from and after its passage, and it is so ordained. APPROVED AS TO FORM AND LEGALITY: ~ /"~ Cam/ ~~...~~ City Attorney Date : ~ ~' ~ ~ _ S ` ADOPTED • Wv EFFECTIVE: l~ ~I._.:s~ 2 e `~ ICAAN9i'MiTAT10kjPUBLIC ..~~/® u ~I~W~WI~ ~~~~ll.i 1LlV ~t(y U U 1V~ LL/lV U (li~~Y..W ~ (L®~ YtAfER AO MINI, .'., ____ _. eee11/J~~~~ DATE REFERENCE suB~ECr ADOPTION OF ORDINANCE PAGE NUMBER ~,:v.~ APPROVING REVISED ARTICLES OF 12-19-89 **G-8361 ~ ar 2 iNC~RPnRATTnN (1F DFW QiRPORT I'-~ FACILITY IMPROVEMENT CORPORATION RECOMMENDATION It is recommended that the City Council take the following action 1. Adopt the attached ordinance repealing Ordinance No. 1'0382, and 2. Adopt. the attached ordinance approving the Articles of Incorporation of the DFW Airport Facility .Improvement Corporation. nT~rii~~TnN In August of 1989, the DFW International Airport Board requested that the Cities of Fort Worth and Dallas approve the proposed Articles of Incorporation of the Dallas-Fort Worth International Airport Facility Improvement Corporation in accordance with the requirements of Article 46-d, Vernon's Civil Statutes, as amended. The purpose of the requested action was to approve creation of a nonprofit airport facility improvement corporation under Section 14(b) of Article 46-d. Such a corporation would have the authority to provide financing for the cost of airport facilities such as real and personal property, build ngs and equipment related to servicing aircraft or for the accommodation of air travelers, which would benefit the operation, economic development or revenue requirements of DFW International Airport. The Board of Directors of the corporation would be composed of five persons appointed by the DFW International Airport Board. No agreements, bonds, debts or obligations of the corporation would ever be deemed to be obligations of the Ct es of Fort Worth or Dallas or a pledge of their credit. On September 5, 1989, the Fort Worth City Council granted its approval as requested by the DFW International Airport Board (M&C G-8203, Ordinance No. 10382).:;.'x:-, , ~~~ ,, . On Nover~`be~r a2~9;s `1989, the matter was presented to the Dallas City Council. The Dallas City Council granted its approval as requested by the DFW International„Airport Board (Ordinance No. 20517). Before granting such approval, however, the Dallas City Council required the following changes to be made in the :.Articles of Incorporation ~r. ~ ,,, . ,,~ 1. The cor.p.or,ati on must obtai n approval of t'he DFW International Airport Board and .,the, City Counc 1 s of Fort Worth and Dal.l as prior to t!he sal e -a~hd. del:~iv~er;Y of any bonds, notes or other form of debt instrument, or the execution of any loan, lease, trust or other agreement. t, :3 rt -4 { , a .. « d !,c ~' ti DATE REFERENCE NUMBER SUBJECT ADOPTION OF ORDINANCE `P4!'~E 12-;19-89 **G-8361 APPROVING REVISED ARTICLES OF 2• ~ ~ ~ " FACILITY IMPROVEMENT CORPORATION ~'~'~• ~~:~••: _~ ~, ~, 2. The Articles of Incorporation may be amended in only two ways ~`' ~"~ ~' (a) Amendments can be proposed by the DFW International Airport Board and approved by the Councils of the two cities, or (b) The City Councils of the two cities may institute amendments by directing the Board of Directors to amend the articles in accordance with procedures in the Non-Profit Corporation Act. These changes were requested to insure that the cities would have adequate control over the corporation. The City Attorney has reviewed the changes and finds them to be satisfactory. It is recommended that the City Council adopt the two attached ordinances which will approve the Articles of Incorporation as revised by the City of Dallas. WA i APPROVED BY CITY COUNCIL DEC 19 ~sas asnr s.a~.t~r ~ tho car ~ roe( w~,~, T.xo. SUBMITTED FOR THE CITY MANAGER'S Wi 11 i am WOOd DISPOSITION BY COUNCIL: PROCESSED BY OFFICE BY ^ APPROVED ORIGINATING Wade Adkins ^ OTHER (DESCRIBE) DEPARTMENT HEAD ~ CITY SECRETARY FOR ADDITIONAL INFORMA,.T~Q7~L 7605 fi^ IC 1(I J a ce~ ' ` CONTACT C DATE ~ ~..• a t ,. '}