HomeMy WebLinkAboutResolution 1695CITY OF DALLAS RESOLUTION NO.
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CITY OF FORT WORTH RESOLUTION NO. ~ ~~
RESOLUTION APPROVING THE ISSUANCE AND SALE OF
DALLAS-FORT WORTH INTERNATIONAL AIRPORT
FACILITY IMPROVEMENT CORPORATION AMERICAN
AIRLINES, INC. REVENUE BONDS, SERIES 1990, AND
APPROVING DOCUMENTS RELATED THERETO
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
non-profit corporation pursuant to Section (f) of the Municipal Airports Act, Article
46d-14, 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 American Airlines, Inc.
Revenue Bonds, Series 1990" (the "Bonds") in an aggregate principal amount not
exceeding $400,000,000, having a maximum final maturity not exceeding 35 years
.and having an interest rate not exceeding 9.00% per annum; and
WHEREAS, notice of a 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 City 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;
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 Agreement," 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;
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," the "Trust Indenture," the
"Guaranty Agreement," and the "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 the principal amount not
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~~. exceeding $400,000,000, finally maturing in not more than 35 years and having a
interest rate not exceeding 9.00% 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 therein; and said Projects are
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.
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 $400,000,000 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 shall any of its 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 DALLAS CITY COUNCIL this
day of December, 1990.
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APPROVED AND ADOPTED BY THE FORT WORTH CITY
18th day of December, 1990.
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•~ety ofyF,~~ort Worth; Te~2as
APPROVED AS T~%O'FOR~A~ND LEGALITY:
City Attorney,
City of Fort Worth, Texas
[SEAL)
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THE STATE OF TEXAS §
v §
COUNTY OF TARRANT §
CITY OF FORT WORTH §
• I, RUTH HOWARD, City Secretary of the City of Fort Worth, Texas, do
hereby certify that the above and foregoing is a true and correct copy
of ,duly presented and adopted by the City
Council of the City of Fort Worth, Texas, at a regular session held on the _ day
of , A.D. 1990, as same appears of record in
WITNESS MY HAND and the Official Seal of the City of Fort Worth, Texas,
this the _ day of A.D., 1990.
y.t,~r -E- y Secret ,
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~~ City of Fort Worth, Texas
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APPROVED BY
CITY COUNCIL
DEC 18 1990
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City Secretary of the
City of Fon Worth, Texw
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