HomeMy WebLinkAboutResolution 3145~"~;:
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RESOLUTION
No. 3~_
RESOLUTION RELATING TO A PUBLIC HEARING
AND APPROVING A FINANCING BY THE
SIMONTON HIGHER EDUCATION FACILITIES
FINANCE CORPORATION FOR THE BENEFIT OF
THE TRINITY VALLEY SCHOOL
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THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
WHEREAS, the Simonton Education Facilities Finance Corporation ("Corporation") created by
the City of Simonton, Texas has adopted a resolution authorizing the proposed loans (the Loans") m the
maximum principal amount of $5 000,000 under one or more loan agreements among the Corporation,
The Frost National Bank (the Bank") and The Trinity Valley School (the Borrower") as provided
under Chapter 53 Texas Education Code, as amended, for the purpose of financing (1) an approximate
13 412 square foot, two-story building to include classrooms, a drama room and choral music rooms, (2)
the renovation of the middle school music room, located m the fine arts complex, into a visual arts
classroom, (3) the construction of an outdoor eating area ad~ommg the Dmmg Hall m the central
courtyard, (4) the construction of an outdoor amphitheater with seating and a stage, and (5) an
approximate 10,030 square foot two-story physical education facility addition to the north side of the
north gym to include locker rooms and equipment storage area, all located at 7500 Dutch Branch Road
Fort Worth, Texas 76132 and paying certain expenses m connection with the issuance of the Loans (the
Project"),
WHEREAS, the Corporation is authorized by the provisions of Chapter 53 Texas Education
Code and the Texas Non-Profit Corporation Act, Article 1396 Vernon's Texas Civil Statutes
(collectively State Law"), to enter into contractual obligations m order to finance and/or refinance the
acquisition, purchase, or lease, or the construction, renovation, or other improvement of educational
facilities,
WHEREAS, section 147(fj of the Internal Revenue Code of 1986, as amended (the Code")
requires that the issuance of any qualified 501(c)(3) obligations be approved by either the governing
body of the City or the chief elected executive officer of the City after a public hearing following
reasonable public notice,
WHEREAS attached hereto as Exhibit A is a Notice of Public Hearing (the Public Notice")
which was published in a newspaper of general circulation m the Crty as required by section 147(f) of
the Code which public hearing was conducted by the Corporation, and
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THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH, TEXAS THAT
The City hereby specifically approves the Loans and the Project (as defined in the Public Notice) solely
for the purpose of satisf}nng the requirements of section 147(f) of the Code and for no other purpose and
is not to be construed as an undertaking by the City The Loans shall not constitute a habil>.ty an
s indebtedness or obligation of the City nor shall any of the assets of the City be pledged to the payment
of the Loans.
The Mayor is authorized to execute and deliver to the Bank this Resolution.
This Resolution shall become effective immediately upon rts passage.
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ADOPTED this 16th day of November 2004
APPROVED
CITY COUNCIL
NOV 1 6 2004
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ayor City Secretary of the
City of Fort Worth, Texas
ATTEST
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EXHIBIT A
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Simonton Education Facilities Corporation (the
Corporation"), a nonprofit corporation created by the City of Simonton, Texas pursuant to Chapter
53 of the Texas Education Code, will hold a public hearing on November 16, 2004 commencing at
9.00 a.m., on the campus of The Trinity Valley School, (the Borrower"), Room AD107 (Central
Administration Conference Room), 7500 Dutch Branch Road, Fort Worth, Texas 76132, to provide
an opportunity for all interested persons to be heard with respect to the consent and approval of the
City of Fort Worth of the proposed loans under a Loan Agreement among the Corporation, The
Trinity Valley School (the Borrower") and The Frost National Bank (the Loans")
The Loans are being made for the purpose of financing the cost of acquiring, constructing,
renovating, and equipping educational facilities, and facilities incidental, subordinate, or related
thereto or appropriate in connection therewith, including: (1) an approximate 13 412 square foot,
two-story building to include classrooms, a drama room and choral music rooms, (2) the renovation
of the middle school music room, located m the fine arts complex, into a visual arts classroom, (3)
the construction of an outdoor eating area ad~ommg the Dmmg Hall m the central courtyard, (4) the
construction of an outdoor amphitheater with seating and a stage, and (5) an approximate 10 030
square foot two-story physical education facility addition to the north side of the north gym to
include locker rooms and equipment storage area, all located at 7500 Dutch Branch Road Fort
Worth, Texas 76132 and paying certain expenses m connection with the issuance of the Loans (the
Project"). The Prod ect is, or will be, owned by the Borrower The maximum amount of the costs of
the Project to be financed w2th proceeds of the Loans is anticipated to be $5 000,000 The Loans are
not payable out of taxes and are secured by and payable solely from funds provided by the Borrower
All interested persons are invited to attend the hearing to express their views, both orally and
m writing, with respect to the Loans and the Project. Any interested persons unable to attend the
hearing may submit their views in writing to the President of the Board of Directors of the
Corporation c/o Winstead Sechrest & Minick P C., Attn. Hoang Vu, 910 Travis Street, Suite 2400
Houston, Texas 77002, prior to the date scheduled for the hearing.
SIMONTON EDUCATION FACILITIES CORPORATION
755084v.2 5521/226
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CERTIFICATE FOR RESOLUTION
(City of Fort Worth)
THE STATE OF TEXAS '
COUNTY OF TARRANT '
CITY OF FORT WORTH '
We, the undersigned officers of the City of Fort Worth Texas (the City"), hereby
certify as follows.
The City Council of said City convened in regular meeting on November 16,
2004 (the Meeting"), at the designated meeting place, and the roll was
called of the duly constituted officers and members of said City Council, to
wit:
Mike Moncnef
Jim Lane
Chuck Silcox
Becky Haskin
Donovan Wheatfall
Clyde Picht
John Stevenson
Ralph McCloud
Wendy Davis
Mayor
Councilmember
Councilmember
Councilmember
Councilmember
Councilmember
Councilmember
Councilmember
Councilmember
and all of said persons were present, except the following: Wendy Davis, thus
constituting a quorum. Whereupon, among other business, the following was transacted
at said Meeting: a wntten
RESOLUTION RELATING TO A PUBLIC HEARING AND
APPROVING A FINANCING BY THE SIMONTON HIGHER
EDUCATION FACILITIES FINANCE CORPORATION FOR THE
BENEFIT OF THE TRINITY VALLEY SCHOOL
(the Resolution') was duly introduced for the consideration of said City Council. It was
then duly moved and seconded that said Resolution be adopted and, after due discussion,
said motion, carrying with ;t the adoption of said Resolution, prevailed and carved by the
following vote:
AYES All members of the City Council shown present
above voted Aye, except as provided below
NAYS
ABSTENTIONS
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That a true, full and correct copy of the aforesaid Resolution adopted at the Meeting
described in the above and foregoing paragraph is attached to and follows this Certificate;
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that said Resolution has been duly recorded m said City Council's minutes of said
Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from
said Crty Council's minutes of said Meeting pertaining to the adoption of said Resolution,
that the persons named m the above and foregoing paragraph are the duly chosen,
qualified and acting officers and members of said City Council as indicated therein, that
each of the officers and members of said City Council was duly and sufficiently notified
officially and personally m advance, of the time, place and purpose of the aforesaid
Meeting, and that said Resolution would be introduced and considered for adoption at
said Meeting, and each of said officers and members consented, m advance, to the
holding of said Meeting for such purpose, and that said Meeting was open to the public
and public notice of the time, place and purpose of said meeting was given, all as
required by Chapter 551 Texas Government Code.
The Mayor and the City Secretary of said City has duly signed said Resolution, and that
the City Secretary of said Crty hereby declares that the signing of this Certificate shall
constitute the signing of the attached and following copy of said Resolution for all
purposes.
SIGNED AND SEALED November 16, 2004
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,City Secretary,
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APPROVED AS TO FORM AND LEGALITY
David L. Yett, City A rney