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Home My WebLink AboutResolution 4793-06-2017 A Resolution NO. 4793-06-2017 APPROVING FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE OF 1986, THE MULTIFAMILY HOUSING REVENUE BONDS FOR THE CAMPUS APARTMENTS TO BE ISSUED BY TRINITY RIVER PUBLIC FACILITY CORPORATION WHEREAS, Trinity River Public Facility Corporation ("TRPFC") is a Texas non-profit corporation created in accordance with the Public Facility Corporation Act, Chapter 303 of the Texas Local Government Code, exclusively for the purpose of assisting the Fort Worth Housing Authority in financing or providing public facilities and in particular affordable mixed income multifamily housing units in the State of Texas; and WHEREAS, TRPFC wishes to issue tax exempt multifamily housing revenue bonds ("Bonds") to finance the development of an affordable mixed income multifamily rental housing complex to be named the Campus Apartments, which is to consist of approximately 220-unit complex to be located at 4651 Campus Drive in the City of Fort Worth, Texas (the "Project"); and WHEREAS, pursuant to the provisions of Section 147(f) of the Internal Revenue Code of 1986, as amended, the City Council of the City of Fort Worth, after the required public hearing following reasonable notice (the "TEFRA Hearing"), must approve issuance of bonds by the issuer in order for the bonds to qualify as tax-exempt obligations under the Code; and WHEREAS, the TEFRA Hearing regarding the issuance of the Bonds and development of the Project was conducted at 1201 East 13th Street, Fort Worth, Texas, 76102 on May 30, 2017 by a designated hearing officer of the Issuer, evidence of which is attached hereto as an exhibit. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. The City Council, solely for the purposes of Section 147(f) of the Internal Revenue Code, as the elected legislative body having jurisdiction over an area in which the facilities to be financed with the proceeds of the Bonds are to be located, hereby approves the proposed issuance of the Bonds in an amount not to exceed $20,000,000 to finance development of the Project and authorizes Mayor Betsy Price to execute an Approval Certificate evidencing such approval. ORT WO T Resolution No.4793-06-2017 2. The foregoing approval is given in accordance with the provisions of Section 147(f) of the Internal Revenue Code and for no other purposes and is not to be construed as an undertaking by the City of Fort Worth. The Bonds shall not constitute a liability, indebtedness, or obligation of the City of Fort Worth, nor shall any of the assets of the City of Fort Worth be pledged to the repayment of the Bonds. 3. This resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Fort Worth, and it is accordingly so resolved. PASSED AND APPROVED, this June 6, 2017. Betsy Price, APPROVED AS TO FORM AND LEGALITY: �- By: L Sarah J. faflenwider, City Attorney ATTEST: O�F OR.. By 4ary Kays ity ec etary z' oRTWORT CERTIFICATE OF MAYOR OF CITY OF FORT WORTH,TEXAS REGARDING ISSUANCE OF TRINITY RIVER PUBLIC FACILITY CORPORATION MULTIFAMILY HOUSING REVENUE BONDS (CAMPUS APARTMENTS) SERIES 2016 WHEREAS, a public hearing was held on May 30, 2017 in the City of Fort Worth, Texas on behalf of the Trinity River Public Facility Corporation (the "Issuer") with respect to the proposed issuance of one or more series of bonds (the"Bonds")to be issued by the Issuer,at one or more times, in an aggregate principal amount not to exceed $20,000,000 (the "Bonds"), with proceeds to be loaned to FW Campus Park Apartments, LP or an affiliate thereof(the"Borrower")to finance a portion of the costs of construction of a multifamily housing residential rental development to be located at 4651 Campus Drive, Fort Worth, Texas (the "Project"), and no comments regarding the Project were made by the general public at such public hearing; and WHEREAS, it is necessary for the applicable elected representative of the City of Fort Worth, Texas,to approve the Bonds to satisfy the requirements of section 147(f)of the Internal Revenue Code of 1986, as amended(the"Code"); and WHEREAS, on June 6, 2017, the City Council of the City of Fort Worth, Texas adopted a resolution approving the Bonds to satisfy the requirements of section 147(f) of the Code and authorizing the highest elected official of the City of Fort Worth, Texas to execute this certificate evidencing such approval. NOW, THEREFORE, the undersigned Mayor of the City of Fort Worth, Texas, hereby attests to the City Council's approval of the issuance of the Trinity River Public Facility Corporation Multifamily Housing Revenue Bonds (Campus Apartment) Series 2016 in one or more series, at one or more times, in an aggregate principal amount not to exceed $20,000,000, and such approval shall be solely for the purposes of section 147(f) of the Code, and the City of Fort Worth, Texas shall have no liabilities for the payment of the Bonds,nor shall any of its assets be pledged to the payment of the Bonds. In Witness Whereof,I have set my hand this June 2017. of F Worth, Te By: M r [Signature Page—Mayor's Certificate] MINUTES OF PUBLIC HEARING Re Trinity River Public Facility Corporation Multifamily Housing Revenue Bonds (Campus Apartments) Series 2016 The undersigned hearing officer for Trinity River Public Facility Corporation called the public hearing to order at 5:00 p.m. on May 30, 2017,with respect to the above-referenced bonds (the "Bonds"). The hearing officer declared that the public hearing, required under Section 147(f) of the Internal Revenue Code of 1986, was open for purposes of discussing the Bonds, the proceeds of which will be loaned to FW Campus Apartments, LP to'acquire, develop, construct, equip, and maintain a multifamily residential rental facility to be known as Campus Apartments (the "Project'). The required notice of the public hearing for the Project was published in the Fort Worth Star-Telegram, being a newspaper of general circulation in the specific location of the Project and in the jurisdiction in which the public hearing was held, as set forth in the affidavit of publication attached hereto as Exhibit A. No comments were made by the general public at the public hearing with respect to this Project. After sufficient time was given for all present to make their comments with respect to the Bonds and the Project,the hearing officer declared the public hearing closed. Dated: May 30, 2017. Hearing Officer 4823-6310-3802A INVOICE Star-Telegram Customer ID: HOU70 808 Tnrockmorton St. Invoice Number: 339608141 FORT WORTH,TX 76102 (817)390-7761 Invoice Date: 5/12/2017 Federal Tax ID 26-2674582 Terms: Net due in 21 days Due Date: 5/28/2017 Bill To: PO Number: NO PO HOUSING AUTHORITY OF FW PO BOX 430 Order Number: 33960814 FORT WORTH, TX 76101-0430 Sales Rep: 073 Description: NOTICE OF PUBLI Attn: ACCOUNTS PAYABLE Publication Date: 5/12/2017 Description Location Col Depth Linage MU Rate Amount NOTICE OF PUBLIC HEARING TRIM I3580 1 64 64 LINE $14.19 $907.96 Misc Fee $10.00 RECEIVED RECEIVED Net Amount: $917.96 MAY 17 2017 MAY 17 2017 AP R VE® FOR PAYMENT T.P. Name: ' � cwt-lA _............�. Dat ACCOUNTS PAY.AEL d L County of?armnt Souk � ._... Before me,a Nptary Pab&in and forsaid county and State,oVs day personaQy appearedLetidaArrraga,Bids&Legal coordvrator for the Star?elegrarn,pub!rahedby the Star-Te4ram, Inc.at Fort Won&in?arrant County,Texas:andu6o after being duly sworn, diddepose andsay that the attacAed clipping of adven*=mt zeas pubfL0wd in the above named paper on de fisted dates: Blues d LEGALa$DETT star Telegram (1 SE05MBED AND SWORN90BEFORTa, IVS DalyOF May Ix)2017 Si Q ,�•,,�� CHRISTY L.�p11,(�p ,�1 ` tF a7TA� 16IV1i7 7MV7�I NOM -PUBLIC Thank You For Your Payment Remit To: Star-Telegram Customer ID: HOU70 P.O.BOX 901051 Customer Name: HOUSING AUTHORITY OF FORT WORTH,TX 76101-2051 Invoice Number: 339608141 Invoice Amount: $917.96 PO Number: NO PO Amount Enclosed: $ I NOTICE OF PllBUC HEi4PI TRINCfY R�IV�HR PIJB'{{U{{ppC��FACILITY MULTIFAA�IiLY1SIN6 80 DS E Notice l Mhheereeby APA vvooff a 0 Jic hearing to be he on behalf of Trinity River Public Facility Cor- poration(the"Issuer"),on Tuesdayy May 30 2017,at 5,00 g at 1201 77 �X�23�i5tree1;Fot�tWat h,T-- 7 sing"revuebDisds he"eonds'1 to be issued by the issuer in one or more relies of tax- ! exemppta bonds in• an aggregate ` g�0 000 4mountaoceeds to of the Bends wlil be klaned to FW Campus Apartments,LP(w a related persoh ' or . ,af !late " thereof) 4ttLe o'Borrower"), thhee co ts of that finance a porton development of I a muitifamily residential rental development known as pCampus cconntaTttlySa�(trh�e�tnwete�ly 2z4 utilts), and loca a within the Cit ofat a �w5lt 1 W� DrhME Tomas �owned The 6e All Interested persons aPe lov to attend such public hearing.to express their views y to the Developmeht and tth� mlcld ante of the,Bonds. Questia+ts br,. request's for additional lnformAtfon may be directed to Sydnee Freeman, Trinity River Public Facility Cw- porat o P.0.Box 430,Fort Warth TX ,f776101 (817) 333-3400, pe ohs W o IAfehd to appear at Elie 1 hearing and express their views am invited to'contact Ms. Freeman i either in writing of by telephone In advance-of the.hearing. Any In, terested persons unable to attend t the henries ma submit their vleWs thg date scheft todurle�fFreeman p fOdng TMS. mtice is published:nhe�a the i above-described hearing is to be held In-satisfaction of the re- in [�of�l Sof tuns Prov regarding.thepbt+lk p- , rof {n �grouabn s3" cfled�al Income tak p of b ltere� on the Bwtid other that! anri