HomeMy WebLinkAboutResolution 285808-22-02 P04 41 IN
CITY OF DALLAS RESOLUTION NO
CITY OF FORT WORTH RESOLUTION NO Z-~rJ
RESOLUTION APPROVING THE ISSUANCE AND SALE OF
DAI;LASIFORT WORTH INTERNATIONAL AIRPORT FACILITY
IMPROVEMENT CORPORATION UNITED PARCEL SERVICE, INC.
REVENUE REFUNDING BOND5, SERIES 2002 IF CERTAIN
PARAMETERS ARE MET APPROVING DOCUMENTS RELATED
THERETO• AND RELATED MATTERS
WHEREAS, with the approval of the Crtles of Dallas and Fort Worth (the `Clties"), the
DallaslFort Worth International Airport Facility Improvement Corporation (the `Issuer") was
duly incorporated and is a validly existing Texas nonprofit corporation pursuant to Chapter 22,
Texas Transportation Code, as amended, and
WHEREAS, the Issuer proposes to issue and sell its `Dallas/Fort Worth International
Airport Facility Improvement Corporation United Parcel Service, Inc. Revenue Refunding
Bonds, Series 2002" (the `Bonds") in an aggregate principal amount not to exceed $30 000 000
having a final maturity date not later than May 1 2032 and having an initial interest rate of not
greater than 4 0% per annum, for the purpose of providing the funds necessary to (i) refund the
;. Issuer's United Parcel Service, Inc. Revenue Bonds, Serves 1992 currently outstanding in the
aggregate principal amount of $27 425 000 (the `Refinanced Bonds"}, (ii) refinance the costs of
the Series 1992 Projects (as hereinafter described) and (iii) pay all or a portion of the costs of
issuing the Bonds, and
WHEREAS the Serves 1992 Projects consisted of various improvements and additional
facilities located on the Dallas/Fort Worth International Airport, including but not limited to
improvements, expansions, renovations and equipping of a new southwest air hub for United
Parcel Service, Inc. (the `Company"), including a main building, conveyor equipment, a remote
building, aircraft apron and other paved areas, fuel and wash facilities and other items related
thereto for use by the Company and
WHEREAS, the Articles of Incorporation of the Issuer require the approval of the Cities
prior to the consummation of the sale and delivery of any bonds, notes, or other form of debt
instruments by the Issuer which approval must include approval of all agreements necessary and
appropriate to the issuance of bonds, notes and other forms of debt instruments by the Issuer and
the specific uses, and the methods of withdrawal and expenditure, of the proceeds of such
obligations proposed to be issued by the Issuer all of which are to be stated and described in the
proceedings approving such obligations; and
WHEREAS, rt is the desire of the City Councils of the respective Cities to approve the
issuance and sale of the Bonds and to approve the `Facilities Agreement, `Trust Indenture,
`Guaranty `Bond Purchase Agreement, `Remarketing Agreement" and `Trust Deposit and
Escrow Agreement" (collectively the Agreements"), which Agreements set forth the specific
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DFW300/71005
uses, and the methods of withdrawal and expenditure, with respect to the proceeds and
remarketing of such Bonds, and
WHEREAS, Section 147(f) of the Internal Revenue Code of 1986 as amended (the
`Code"), requires that the Bonds and the refinancing of the Series 1992 Projects be approved by
the applicable elected representative" (the AER') after a public hearing following reasonable
public notice; and
WHEREAS the AER with respect to the Bonds and the Series 1992 Projects is the
Mayor of each Crty and
WHEREAS, notice of a public hearing with respect to the refinancing of the Series 1992
Projects and the Bonds held by a representative of the Issuer on August 6 2002, was published
no less than 14 days before said date in The Dallas Morning News and the Fort Worth Star
Telegram, being newspapers of general circulation available to residents of the Cities, and
WHEREAS the duly appointed hearing officer of the Issuer held such public hearing on
the date and at the time and place set out iri such published notice, and conducted such hearing m
a manner that provided a reasonable opportunity for persons with differing views on the issuance
of the Bonds and on the location and nature of the Series 1992 Projects to be heard, and
WHEREAS, the City Councils desire to (i) approve the sale and issuance of the Bonds,
,. (ii) confirm actions taken with respect to public hearing requirements for the refinancing of the
Series 1992 Projects, and (iii) authorize the Mayors of each of the Cities to approve the Bonds
and the refinancing of the Serves 1992 Projects as required by Section 147(f) of the Code;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF DALLAS THAT
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FORT WORTH THAT
Section 1 The `Facilities Agreement, `Trust Indenture, `Guaranty `Bond
Purchase Agreement, `Remarketing Agreement" and `Trust Deposit and Escrow Agreement"
all m the form and substance submitted herewith, are hereby approved, in foil compliance with
the Issuer's Articles of Incorporation, and the Bonds in the aggregate pnncipal amount not to
exceed $30 000 000 having a final maturity date not later than May 1 2032, and having an
initial interest rate of not greater than 4 0% per annum, may be issued for the following purposes
{i) to refund the Refinanced Bonds, (ii) to refinance the costs of the Series 1992 Projects (as
heretofore described) and (iii) to pay all or a portion of the costs of issuing the Bonds. The Issuer
is hereby authorized to approve any changes to such documents that do not result in any material
alteration of the terms thereof and do not in any manner change the specific uses, or methods of
withdrawal or expenditure, of the proceeds of such Bonds. Any such amendments or
modifications must be provided prior to the execution thereof to the office of each City Attorney
Section 2. The City Councils of the respective Cities hereby authorize and approve
the issuance of the aforesaid Bonds, in the aggregate pnncipal amount not to exceed $30 000 000
and the refinancing of the Serves 1992 Projects and such approval shall be solely for the purposes
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DFW300/71005
• of Section 147 of the Code, as amended. Additionally the City Council of each of the Cities
hereby authorizes its Mayor to approve the issuance of the Bonds and the use of the proceeds
thereof for the purpose of satisfying the requirements of Section 147 of the Code, as amended. It
is hereby specifically provided, however that neither of the Cities shall have any habihty for the
payment of the Bonds nor shall any of their respective assets be pledged to the payment of the
Bonds.
Section 3 This Resolution shall be effective upon final approval by both the Cities of
Dallas and Fort Worth, Texas.
APPROVED AND ADOPTED BY THE DALLAS CITY COUNCIL this day of
August, 2002.
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DFW300/71005
APPROVED AND ADOPTED BY THE FORT WORTH CITY COUNCIL this 13th day
of August, 2002.
~~~
Mayor City of Fort Worth, Texas
ATTEST
City Secretar
City of Fort orth, Texas
APPROVED AS TO FORM AND LEGALITY
City Attorney
City of Fort Worth, Te
[SEAL]
•
Signature Page for City of Fort Worth Resolution
THE STATE OF TEXAS
COUNTY OF DALLAS §
CITY OF DALLAS
I, SHIRLEY ACY City Secretary of the City of Dallas, Texas, DO HEREBY CERTIFY
that the above and foregoing is a true and correct copy of a Resolution (and minutes pertasmng to
its adoption) adopted by the City Council of the City of Dallas, Texas, on the 14th day of
August, 2002, approving the issuance and sale of Dallas/Fort Worth International Airport
Facility Improvement Corporation United Parcel Service, Inc. Revenue Refunding Bonds, Series
2002 and approving documents related thereto which resolution is correctly enrolled in File No
of the Records of the City of.Dallas, Texas.
I FURTHER CERTIFY that said Resolution was passed at a meeting held after wntten
notice thereof stating the date, hour place and subject had been posted for more than seventy
two hours preceding the day of the meeting at the City Hall on a bulletin board located at a place
convenient to the public, all in compliance with the provisions of Chapter 551 Texas
Government Code, as amended.
WITNESS MY HAND AND SEAL OF THE CITY OF DALLAS TEXAS, this the
day of August, 2002.
City Secretary City of Dallas, Texas
THE STATE OF TEXAS §
COUNTY OF TARRANT
CITY OF FORT WORTH
I, GLORIA PEARSON City Secretary of the City of Fort Worth, Texas, DO HEREBY
CERTIFY that the above and foregoing is a true and correct copy of a Resolution duly presented
and passed by the City Council of the City of Fort Worth, Texas, at a regular meeting held on the
13th day of August, 2002, approving the issuance and sale of DallaslFort Worth International
Airport Facility Improvement Corporation United Parcel Service, Inc. Revenue Refunding
Bonds, Series 2002 and approving documents related thereto, as same appears of record in the
office of the City Secretary
I FURTHER CERTIFY that said Resolution was passed at a meeting held after wntten
notice thereof stating the date, hour place and subject had been posted for more than seventy
two hours preceding the day of the meeting at the City Hall on a bulletin board located at a place
convenient to the public, all m compliance with the provisions of Chapter 551 Texas
Government Cade, as amended.
.a WITNESS MY HAND and the Official Seal of the City of Fort Worth, Texas, this the
day of August, 2002.
City Secret City of Fort ~IJorth, Texas
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APPROVED AND ADOPTED BY THE FORT WORTH CITY COUNCIL this 13th day
of August, 2002.
'~ U.,.
~,~"~~~'"' ~,~~; Mayor City of Fort Worth, Texas
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City of Fort V~i~orth, Texas
APP OVED AS TO FORM AND LEGALITY
~GtGCY
City Attorney
City of.Fort~Wort exas
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A.FPROVED
CITY' COUNCIL
,~uti 13 2002
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City Secsratnty ct tt~®
City o! Fort WorH'-, Texas
Signature Page for City of Fort Worth Resolution