HomeMy WebLinkAboutResolution 1399xr~oavtsox Ko~J~1 /
RESOLUTION APPROVING AN AGREEMENT OF THE
SUNBELT INDUSTRIAL DEVELOPMENT CORPORATION
WITH RESPECT TO THE ISSUANCE AF BONDS FOR
GOHMANN ASPHALT AND CONSTRUCTION OF TEXAS, INC.
WHEREAS, Sunbelt Industrial Development Corporation
(the "Corporation") was created under the auspices of the
City of Fort Worth; and
WHEREAS, notice of a public hearing on the Project (as
defined in the Agreement attached hereto), as required by
Section 147 of the Internal Revenue Code of 1986, as amended
(the "Code"), was published in a newspaper of general
circulation in the City at least 14 days prior to such
public hearing; and
WHEREAS, it is deemed necessary and advisable that this
Resolution be adopted.
• THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF FORT WORTH THAT:
Section 1. The "First Amendatory Loan Agreement by and
between Sunbelt Industrial Development Corporation and
• Gohmann Asphalt and Construction of Texas, Inc.", in
substantially the form and substance as attached to this
Resolution and made a part hereof for all purposes, is
hereby approved, and Bonds in the principal amount of
$500,000, may be issued pursuant thereto for the purpose of
paying the cost of acquiring and constructing or causing to
be acquired and constructed the Project as defined and
described therein, which Project is in compliance with the
Development Corporation Act of 1979, as amended, and the
rules promulgated thereunder by the Texas Department of
Commerce; and said Project is hereby approved.
Section 2. The resolution adopted by the Corporation
authorizing the execution of the Loan Agreement and a First
Supplemental Trust Indenture by and between the Corporation
and Citizens Fidelity Sank and Trust Company, as Trustee,
dated March 15, 1989, and authorizing the sale of the Bonds,
~` in substantially the form and substance attached to this
~~ Resolution and made a part hereof for all purposes, are
hereby specifically approved, and the Bonds may be issued as
provided for therein.
APPROVED BY
CITY COUIYCII
• MAR 21 1989
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