HomeMy WebLinkAboutResolution 1832i~ A Resolution gdopted Resolution No, ~°~
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RESOLUTION APPROVING THE ISSUANCE AND SALE OF DALLAS-FORT
WORTH INTERNATIONAL AIRPORT FACILITY IMPROVEMENT
CORPORATION UNITED PARCEL SERVICE, INC. REVENUE BONDS, SERIES
1992, AND APPROVING DOCUMENTS RELATED THERETO, DESIGNATING A
HEARING OFFICER FOR TEFRA PURPOSES AND AUTHORIZING TEFRA
APPROVAL
WHEREAS, with the approval of the Cities of Dallas and Fort Worth (the "Cities"), the Dallas-
Fort Worth Intemational Airport Facility Improvement Corporation (the
"Corporation") was duly incorporated and is a validity existing Texas non-profit
corporation pursuant to Subsection 14(f) of the Municipal Airports Act, Article
46d, Vernon's Annotated Texas Civil Statutes, as amended; and
WHEREAS, the Corporation, proposes to issue and sell its "Dallas-Fort Worth International
Airport Facility Improvement Corporation United Parcel Service, Inc. Revenue
Bonds, Series 1992" (the "Bonds") in an aggregate principal amount not to exceed
$- ~l, y~'6 vLuaving a maturity date of May 1, 2032, and having a net effective
in°~ere5t rite not greater than ~%a per annum; and
WHEREAS, notice of public hearing on the Project (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 a newspaper of general
circulation in the Cities at least 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 all agreements, 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; ahd
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;
• I NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CTTY OF
FORT WORTH THAT:
Section 1. The "Facilities Agreement," the "Trust Indenture," the "Guaranty," and the
CITY OF FORT WORTH
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"Bond Purchase Agreement," all in the form and substance submitted herewith, are hereby
approved, in full compliance with the Corporation's Articles of Incorporation, and the
Bonds in an aggregate principal amount not to exceed $25,000,000, with a maturity date
of May 1, 2032, and having a net effective interest rate not exceeding % per
annum, may be issued in accordance with and subject to the terms and conditions set
forth in the Bond Purchase Agreement for the purpose of paying the cost of acquiring and
constructing or causing to be acquired and constructed the "Project" as defined and
described in the Facilities Agreement; 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 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 Richard S.
Williams 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.
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Section 3. The City Councils of the respective Cities hereby authorize and approve the
issuance of the aforesaid Bonds in the principal amount not to exceed $25,000,000, 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 shalt any of their assets be
pledged to the payment of the Bonds. Additionally, the City Councils of the respective
Cities hereby authorize 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.
APPROVED AND ADOPTED BY THE FORT WORTH CITY COUNCIL this -~
day of June, 1992.
ATTEST:
City Secretary,
City of Fort Worth, Texas
Mayor, City of Fort Worth, Texas
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AS AMENDED
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CITY OF FORT WORTH