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HomeMy WebLinkAboutResolution 2688~. .~= t ~. ,?688 ~"' RESOLUTION OF THE CITY COUNTIL OF THE CITY OF FORT WORTH, ~, TEXAS GIVING PERMISSION TO SPLENDORA CULTURAL EDUCATION FACILITIES FINANCE CORPORATION FOR THE FINANCING OF CULTURAL FACILITIES WITHIN THE CITY OF FORT WORTH, TEXAS FOR AMON CARTER MUSEUM WHEREAS, the City of Fort Worth, Texas is a Sponsoring Entity" under the Cultural Education Facilities Finance Corporation Act, Article 1528m, Vernon's Annotated Civil Statutes, as amended (the Act"), and WHEREAS Amon Carter Museum ("ACM"), a Texas nonprofit corporation as described in Section 501(c)(3) of the Internal Revenue Code of 1986 as amended (the 'Code'), intends to acquire, construct, equip, improve, expand and renovate cultural facilities as defined in the Act, including an 85 000 square foot expansion to and a renovation of, the existing 22,000 square foot museum located at 3501 Camp Bowie in the City of Fort Worth, Texas (the 'Project")• and WHEREAS ACM has requested the Splendors Cultural Education Facilities Finance Corporation, a cultural education facilities finance corporation created under the Act (the Corporation'), to enter into a series of loan transactions (the 'Loans') and to lend the proceeds of the Loans in the maximum amount of $8,500 000 to ACM for the purpose of financing the costs of the Project and the Loans, and • WHEREAS the Project shall be cultural facilities as defined in the Act; and WHEREAS, under the Act the Corporation has authority to acquire or cause a user to acquire, construct or improve one or more cultural facilities located outside the hmrts of the Corporation's Sponsoring Entity with the consent of each other Sponsoring Entity m which the health facilities are or will be located, and WHEREAS the City Council of the City of Fort Worth, Texas, as a Sponsoring Entity in which the cultural facilities described above are to be acquired, constructed or improved by ACM with proceeds from the Loans, deems rt necessary and convenient to give permission to the Corporation for the use of the proceeds of the Loans for the purposes hereinbefore described. THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT 1 Consent is given to the Corporation to lend the proceeds of the Loans to ACM and/or any affiliate thereof to be used to acquire, construct, equip, improve, expand and renovate the Project and to pay all costs associated with the Loans: 2. This City Council finds, determines and declares that the use of the proceeds of the Loans as described herein is in the public interest and to the benefit of the citizens of Fort Worth, Texas and the citizens of the State of Texas, and is essential to the continuing education, health, general welfare and comfort of the citizens of the State of Texas. 438068_1 .DOC s ^T t ~~ ~~ 3 This Resolution is given solely for the purpose of complying with the provisions of the Act and for no other purpose, and the Loans shall m no way be an obligation or habilrty of the City of Fort Worth, Texas, or any other political subdivision. 4 This approval shall take effect immediately ., APPROVED ~~Y coun~c~~ NOV 2g 700A ~., l ~)~w-M1 • City Secretary of UF.e "' City of Fort 1~'i/orth, Texas 438068_1.DOC ~~ THE STATE OF TEXAS § CITY OF FORT WORTH § We, the undersigned officers of the City Council of the City of Fort Worth, Texas (the City"), hereby certify as follows. 1 The City Council of Fort Worth, Texas convened in regular meeting on the 28th day of November 2000 at the regular meeting place, and the roll was called of the duly constituted officers and members of said City Council, to-wit: Kenneth Barr Mayor Jim Lane City Councilmember Chuck Silcox City Councilmember Becky Haskin City Councilmember Frank Moss Crty Councilmember Clyde Picht City Councilmember Jeff Wentworth City Councilmember Ralph McCloud City Councilmember Wendy Davis Crty Councilmember and rt was found and determined that a quorum was present. Whereupon, among other business, the following was transacted at said Meeting. A written RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS GIVING PERMISSION TO THE SPLENDORA CULTURAL EDUCATION FACILITIES FINANCE CORPORATION FOR THE FINANCING OF CULTURAL FACILITIES WITHIN THE CITY OF FORT WORTH, TEXAS FOR AMON CARTER MUSEUM was introduced for the consideration of said Crty Council and read m full. It was then duly moved and seconded that said Resolution be passed, and, after due discussion, said motion, carrying with rt the passage of said Resolution, prevailed and carried by the following vote AYES NOTES ABSTENTIONS 2. That a true, full and correct copy of the aforesaid Resolution passed at the meeting described in the above and foregoing paragraph is attached to and follows this Certificate, that said Resolution has been duly recorded m the minutes of said Meeting; that the above and foregoing paragraph is a true, full and correct excerpt from the minutes of said Meeting pertaining to and passage of said Resolution, that the persons named m the above and foregoing paragraph are the duly chosen, qualified and acting members of said City Council as indicated therein, that each of the members of said Crty Council was duly and sufficiently notified officially and personally in advance, of the time, place and purpose of the aforesaid Meeting, and that said Resolution would be introduced and considered for passage at said Meeting, and each of said members consented, m advance, to the holding of said Meeting for 406420-2 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 the provisions of Chapter S51 Texas Government Code., .~ SIGNED AND SEALED THIS 28th day of November 2000 '~~ .~ ~~~ - _- ~ M '\ ~,~u,.4-L„~L. City Secretary Mayor .~ (SEAL) APP OVED AS TO FORM AND LEGALITY ~~ i David Yett, Crty A ey • 406420-2