HomeMy WebLinkAboutResolution 4732-01-2017A Resolution
NO. 4732-01-2017
APY120V1NG I+'OR PURPOSES OF SECTION 147(t) OF THF 1NTFRNAI,
REVENUE C011E OF 198G, THE MULTIFAMTLY HOUSING REVENUE BONllS
FOR THE CAiI�IPUS APARTMENTS TO BE ISSUED I3Y 1'RIIVITY RiVER PUBLIC
FACILITY CORPORATION
WHEI2�AS, Trinity River Pnblic Facility Coiporation ("TRPFC") is a Texas non-profit
cotporation created in accordance with the Puhlic Facility CorporaGon AcC, Chapter 303 of tlie Texas
I,ocal Uovernment Code, exclusively for the purpose of assisting the Fort Worth I�ousing Aut'hority in
financing or providing public facilities and in particular affordable mixed income inultifamily housing
units in the State of'I'exas; and
WHF.12EA5, TRPFC wishes to issue tax exempt mtilrifamily housing revenue bonds ("Bonds")
to finance the development of an affordable mixed incomc multifamily rental housing complex lo be
named the Campus ApartnienCs, which is to consist of approximately 220-tmit complex to be located at
4651 Campus llrive in the City oi Fort Worth, Texas (thc "ProjecY'); and
WHEHEAS, pursuant to the provisions of Section 147(fl ofthe Internal Kevenuc Codc of 1986,
as amended, the City Council of the City of Fort Worth, after thc requircd public hearing following
reasonable noticc (the "TEFRA Heariug"), lnust approve issuance of bonds by the issucr in ordcr far the
6onds to qualify as tax-cxcmpt obligations mider the Code; and
WIIEREAS, the TEFRA Hearing regarding the issuance of the Bonds and development of thc
Project was conducted at 1201 F.ast 13th Stxeeti, Fort Worth, Texas, 76102 on December 16, 2016 by a
designated hearing officer of the Issucr, cvidence of which is attached hereto as an exhiUit.
NOW, THEREFORE, BE IT RESOLVED BY THF. C[TY COUNCIL OF TH�
CITY OF FORT WORTH, TEXAS THAT:
1. �I'he City Council, solely for the purposes of Section 147(f) of the internal
Rcvcnue Code, as the elected legislative body having jurisdiction ovcr an araa in
which the faciliries to 6e financed with the proceeds of the Bonds are to be ]ocated,
hereby approves the proposed issuance oP the Bonds in an amount not to exceed
$30,000,000 to finance development of the Project and authorizes Mayor Betsy
Price to cxecute an Approval Certificate evidencing such approval.
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2. i„l�c fai•t,¢oiiig a�ip��ovat is givcFx;i�� aocoi�i��tFcc iw°itt; tl�c �?e�i�isians c�f Seeti<>ci
I47(fj of' Eliz Iiitet�si�ti1 Kev�i�a_se C'c�<<e anci €�r t�o aathei- �star�nszs az�ii is not to be
cc�t�sti•t�e�l as �zi unrtertnking E3�5> Tl�c Ciey c�f F�'orf bVorYh. 'T'hc tiand� ;hall n:�t
co�istit`tt[e u 1€:�bilit,v, i�adcbtcdncss, i�r t�l;ligati<ata nf Clic Gitiy c�f� I^or•t �i'c�rth, �iar
sl�alt a7�y of tl�� assets �f tlzc C'.�it�� of Port ti�rorFll L� ptec�ged Yn tiic rep�y,n�eizt of tIi�e
I3oii�s.
3. Tlai� resalutzotx shall tali,e effect iininediatel;- t'rc�an an<l affr:r �ts pa�s�t�;c zzt
a�4ord�nce witiii the pr�srisiozr� of #he �i�ai�tcr c�f'the Ci#� af �crt Wortli, anci it is
ac<•c+rciznglp s� a`e�e�l��ei�.
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Wi(I:iZ3iA`s, a. ��ubiic t)�aritav ti�tts hcld Un I�occ�ticr 3fi, �fS16 iit i,Ftc Ci3�i of l�ort: 4y'<�rth, `!'exas
c�u l?ei+alf of�fhe rli�ixutu Ri��er Pubi'tt Faeili�y C<zc�xorati�a❑ �tha `t�.�uec"� ovith �respe�L ta it�e �tt����sezi
i:;,r:iance c�E «i5e F�i• 1n<i�� series 4�Y h<nttjs (tlxa "}30�3c1sz'} to be isSt7ed by tite i�st�er, at one or inrare ti�ises, 1n
a�s x�greb� �a�inoipa�� amoz�nx nc�t to ax.�ad �3Q,4�t?t�,OCit� Ith� "Sc�ads"}, wiY7x prorsecls to 7� luarzecl to�
F'G'ij Cam�t�5 P�ai•k t1�i�irt�txc�tzts, T,Y ��r ar� xt�iliatc thui•ecf (t�Ze "ii�rrowcr") ic� iin�ncc a pc�rtion u£the costs
c�f c�nslnicriun af �;inciirifa�tiii�r h�cisi��� �sis3e�ati�I ����taE d��elopr3�e�xi� ta t�c PQcaE�d st �t�iSl C:atupcas
i)iiu�e, i'ott �J�,xth, 7''e�as {the 'tf'rc�jecff� a�xi no cnmial�xits r��aa�ding i(�e �'ro�eet wcre ��ade oy �ie
gc��ct�ai j�tit�#ic at such �ut>iic hcat ing; anel
«'FTET'.ERS,. �t 'ss necassary ic�r tlic a�,plicabl� eicci�c3 represen'r.�tive of the Gity o€ F'i�si�E Woitli-
1'�as, tc� fl�>piaaz ihe 1_i«Ficls t,> satisFy she z�quirers�ents of see#'izt� I�t7{� a�f ihe lxiteroal [:eveietze L`c�<te of
1�&ti, as a�ncndcei {iize. `.Cc�de"�; and
41�11F.RF.AS, on .Iantt�tv 24, �(Jl?, t�e City l'i��u2cil oT't(1e f'itv t�#" Fei�t �'ortti, Texa:s adopte�i a
resol3xtion a��E�orin�'t�i� Bonda��To satis�j� 1:he i�quir�fr�ent� o€�s�ction 1�E7(i} nff��� G'ocl� an��t�thoriairtg
tl�e [iiglae3t slecte�i nt�i�iai oF the City o#' F�-t Wurtis, Te.�ag t� �.x�cute ihis ceaii�ioate evider�cin� s�c13
u}+(iicav�il.
NOW, 'PHSIZ�:F(�RE, 13r� �rz3dez�aig��ec€ Ivf�±n�r� of� Yk�e Gity nPI�ort Vvordl�, Te��s. €t���eliy ai.t�is �fi�
tiie City Ccuiiic:ii';: :k��3i�t>va1 of t93� icsut�ttce tff #}�s Ti��nity� Rivet• Pt3t>lac Facility Cni'��c�ratiazi 1Vlultif:��s�ily
F3nu.�in� Revetx�ie RaritPs f(1a���rt�� Apat-U�ae�li) Secies 2t� 1ti i�z �3ae ar inor� saries, at: �ons «r utore fti�aes, itt
a�i ag�reg�ie �rss�ei�a� aixiocinL aiut to e�cec� $:G,�Q�(7�Gl, azid si�cli ap�rova[ sizn7l be svlely tar i�Ze
putpoacs of sectit>n il�'T(fl uf t�i� C;oc7e, and t22c t;id�;� ef hur Lt%c���th, Tcxas s}iall havc xic� liatziiitie� Fzc tl�c
pa3�utent �ftlie �3c��ads, �1��r shail a�i_v of its as�et4 ba �la��ed tu r�ie �a}�zesii t�f the T3oa�ds,
In 1Uitn..ss W h�re�f, I Isa<<e sct m}� hai�
�S;��n�h:te � k�e ytuyol's Cerii!?�u[cJ:
MINUTES OF PUBLIC HEARING
Re Trinity River Public Facility Corporation Multifamily IIousing Revenue Bonds (Campus
Apartments) Series 2016
1'hc undcrsigned hearing officcr for '1'rinity River Public Facility Corporation called thc
public hearing to order at 5:00 p.m. on December 16, 2016, with respect to the above-referenced
bonds (the 'Bonds").
The hearing officer declared that the public hearing, required under Section 147(� of the
lnternal Revenue Code of 1986, was open for purposcs of discussing the Bonds; thc proceeds of
which will be loaned to FW Campus Apartmcnts, LP to acquirc, devclop, constnict, cquip, and
maintain a multifamily residential rental i�acility lo be known as Campus Aparlments (the
"Project").
The required notice of the public hearing for the Project was published in the I'or•t WortFa
Star-Telegram, being a newspaper of general eirculation in the specific location of the Project
and in tlie juiisdiction in which the public hearing was held, as set f'orth in tlte afifidavit of
publication attached hereto as Exhibit A.
No coimnents were made by the general public at the public hearing with respect to tliis
Project.
After sufficient time was given for all present to make their cominents with respect to the
Rouds and the Project, the hearing officer declared the public hearing closed.
Dated: December 19, 2016.
Hearing Officer
4823-63 7 03R02.v 1