HomeMy WebLinkAboutResolution 2335~~ CITY OF DALLAS RESOLUTION NO
CITY OF FORT WORTH RESOLUTION NO ,o~ 3~
RESOLUTION APPROVING TIME ISSUANCE AND SALE OFDALLAS-FORT
WORTI-I INTERNATIONAL AIRPORT FACILITY IMPROVEMENT
CORPORATION RENTAL CAR FACILITY CHARGE REVENUE BONDS.
'1'AXAI3LE SERIES 1997 IF SPECIFIED PARAMETERS ARE MET, AND
APPROVVING DOCUMENTS RELATED. THERETO
WHEREAS, with the approval of the Cities of DaAas and Fort Worth (the 'Cities"), the Dailas-
Fort Worth International Airport Facility Improvement Corporation (the `Corporation') was duly
incorporaced and is a validly existing 'lhxas non-profit corporation pursuant to Chapter 22 'Ihxas
Transportation Code, as amended, and
WHEREAS, the Corporation, proposes to issue and sell its `Dallas-Fork Worth International
Airport Facility Improvement Corporation Rental Car Facility Charge Revenue Bonds, Taxable Series
1997" (the `Bonds"), and
WI•IEREAS, the Articles of Incorporation require the approval of the Cities prior to the
coneummakion of the sale Qnd delivery of any bonds, notes, or other form of debt instruments by the
Corporation, which approval must include all agreements, and the specific uses, and the methods of
withdrawal and expenditure, of [lie proceeds of such obligations proposed to be issued by the
i~ Corporation, all of which are to be stated and described in the proceedings approving such obligations;
_ and
WHEREAS, it is the desire of the City Councils of the respective Cities to approve the issuance
and sale of the fonds and to approve those Rental Car Facility Agrecmcnts, herein called the `Facility
Agreements," the `Trust Indenture, and the `Bond Purchase Agreement" (collectively the
Agreements"~, which Agreements set forth the specific uses, and the methods of withdrawal and
expenditure, vcnth respect to the proceeds of such Bonds;
NOW THEREFORE, BE IT RESOLVED BY TIgE 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 "Facility Agreements, the "'I~-ust Indenture," and the `Bored Purchase
Agreement," all in the farm and substance submitted herewith, are hereby approved, ui full-compliance
with the Corporation's Articles of Incorporation, and the Bonds in the aggregate principal. amount no_t_
to exceed $140,000,000 with a final maturity date not later than November 1, 2424, and having an
interest rate not exceeding 8.75% per annum, may be issued for the purpose of paying the cost of
acquiring and constructing or causing to be acquired and constructed the `Projects" as defined and
described in the Facility Ap~eements; and said Project is hereby approved. The Corporation 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
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expenditure, of the proceeds of such Bonds. A.ny such amendments or modifications must be provided
prior to the eacecutlon thereof to the office of each City Attorney
Scctivn 2. This Rcsolution shall be cffective upon final approval by both the Cities of
Dallas and Fort Worth, 'Ihxas.
APPROVED ANp ADOPTED Fi5' TkiE DALLAS CITY COUNCIL, this day of
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08Al4/97:(1 fl2pMl
APPROVED AND ADOPTED BY THE FORT WORTI-I CITY COUNCIL this day
`" of
Mayor City of Fart Werth, Tomas
ATTES'I~
City SacrBtary
City of Fort Worth,'IBxas
APPROVED AS TO FORIvI AN'D LEGALITY
City Attorncy
City of Fart Worth, Texas
[SEAL)
~.
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