HomeMy WebLinkAboutResolution 2109CITY OF DALLAS RESOLUTION NO
CITY OF FORT WORTH RESOLUTION NO ~ 10
A CONCURRENT RESOLUTION OF THE CITIES OF DALLAS AND FORT WORTH,
TEXAS APPROVING THE ISSUANCE AND SALE OF DALLAS-FORT WORTH
INTERNATIONAL AIRPORT FACILITY IMPROVEMENT CORPORATION
AMERICAN AIRLINES, INC, REVENUE BONDS, SERIES 1995 APPROVING
DOCUMENTS RELATED THERETO• AND RELATED MATTERS
WHEREAS, with the approval of the Cities of Dallas and Fort Worth (the `Cities"), the Dallas-Fort
Worth International Airport Facility Improvement Corporation (the `Corporation') was duly incorporated
and is a validly existing Texas nonprofit corporation pursuant to Subsection 14(f) of the Municipal Airports
Act, Article 46d, Vernon s Annotated Texas Civil Statutes,. as amended, and
WHEREAS, the Articles of Incorporation of the Corporation specifically authorize the issuance of
bonds, notes, and other forms of debt obligations for the purpose of refinancing or refunding, on a current
or advance basis, all or part of any bonds, notes, and other forms of debt instruments, previously issued and
sold to pay the costs, including the direct and indirect costs, capitalized interest, and reserves therefor of the
airport facilities authorized by subsection 2(a) of the Municipal Airports Act, Article 46d, Vernon s
Annotated Texas Civil Statutes, in order to benefit and enhance the operation and economic development
of the Dallas-Fort Worth International Airport; and
WHEREAS, the Corporation proposes to issue and sell its `Dallas-Fort Worth International Airport
• Facility Improvement Corporation American Airlines, Inc. Revenue Bonds, Series 1995 (the `Bonds") in
an aggregate principal amount not to exceed $128,435,000 finally maturing in not more than 30 years from
the date thereof, and having a net effective interest rate not greater than 7.50% per annum for the purpose
of providing a portion of the funds necessary to refinance certain.outstandmg prior bonds (the `Refinanced
Bonds"), as follows: $97,300,000 Grapevine Industrial Development Corporation Airport Facilities Revenue
Bonds (Series 1985 American Airlines, Inc. Project), and $31 135 000 Lone Star Airport Improvement
Authority Inc. Airport Facilities Revenue Bonds, Series 1985 (American Airlines, Inc. Project); and
WHEREAS, notice of a public hearing (as defined in the Facilities Agreement, attached hereto), as
required by Section 147 of the Internal Revenue Code of 1986, as amended (the `Code'), will be published
in newspapers of general circulation in the Cities at last 14 days prior to such public hearing; and
WHEREAS, the Articles of Incorporation 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
Corporation, which approval must include approval of any loan, lease, trust or other agreements that are
necessary and appropriate to the issuance of bonds, notes and other forms of debt instruments by the
Corporation and the specific uses, and the methods of withdrawal and expenditure, of the proceeds of such
obligations proposed to be issued by the 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 Bonds and to approve the `Facilities Agreement, the `Trust Indenture, the `Guaranty and the
`Bond Purchase Agreement" (collectively the Agreements"), which Agreements set forth the specific uses,
• and the methods of withdrawal and expenditure, with respect to the proceeds of such Bonds; and
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THAT
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF DALLAS
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT
WORTH THAT
Section 1 The 'Facilities Agreement, the 'Trust Indenture, the 'Guaranty Agreement, and
the 'Bond Purchase Agreement, all m the form and substance submitted herewith, are hereby approved, m
full compliance with the Corporation's Articles of Incorporation, and the Bonds in the aggregate principal
amount not to exceed $128,435 000 finally maturing in not more than 30 years from the date thereof, and
having an interest rate not greater than 7.50% per annum, may be issued for the purpose of providing a
portion of the funds necessary to refinance the Refinanced Bonds issued for the purpose of financing and
refinancing the acquisition and construction, equipping and improvement of certain airport facilities within
the boundaries of the Dallas-Fort Worth International Airport for use by American Airlines, Inc. 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 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 appoint Janice Davis to be the
designated Hearing Officer for a public hearing relating to the Bonds to be held by the Corporation for
purposes of satisfying the requirements of Section 147 of the Code, as amended.
Section 3 The City Councils of the respective Cities hereby authorize and approve the issuance
of the aforesaid Bonds in the pnncipal amount not to exceed $128,435,000 and such approval shall be solely
for the purposes of Section 147 of the Code, as amended, and shall have no liabilities for the payment of the
Bonds nor shall any of its assets be pledged to the payment of the Bonds. Additionally the City Council of
each of the respective Cities hereby authorizes each of their respective Mayors 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.
1995
•
APPROVED AND ADOPTED BY THE DALLAS CITY COUNCIL this 8th day of November
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APPROVED AND ADOPTED BY THE FORT WORTH CITY COUNCIL this 7th day of
November 1995
ATTEST
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City Secretary
City of Fort Worth, Texas
APPROVED AS TO FORM N LEGALITY
City Attorney
Cityt~,f Fort Worth, Texas
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Mayor ity of Fort orth, Texas
APPRt~VED
CITY Ct~l~NC1L
NOV ~ 1995
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THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF FORT WORTH
I, ALICE CHURCH, 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 Crty
Council of the City of Fort Worth, Texas, at a regular meeting held on the 7th day of November 1995
approving the issuance and sale of Dallas-Fort Worth International Airport Facility Improvement
Corporation Amencan Airlines, Inc. Revenue Bonds, Series 1995 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 written 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 con a lent to the public, all m
compliance with the provisions of Vernon s Ann. Texas Government Code, Section SS 1041 as amended.
WITNESS MY HAND and the Official Seal of the City of Fort Worth, Texas, this the ~ day of
November 1995
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City Secretary City of Fort Worth, Texas
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