HomeMy WebLinkAboutResolution 1109
A Resolution
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A RESOLUTION OF THE CITY COUNCIL OF FORT WORTH, TEXAS APPROVING THE
ACQUISITION AND/OR CONSTRUCTION OF CERTAIN REAL AND/OR PERSONAL
PROPERTY TO BE USED IN CONNECTION WITH A COMMERCIAL ENTERPRISE (THE
"PROJECT"), FOR RUSSELL, TURNER & LAIRD (THE "COMPANY"), TO BE
FINANCED THROUGH THE ISSUANCE OF BONDS BY THE TEXAS SMALL BUSINESS
INDUSTRIAL DEVELOPMENT CORPORATION FOLLOWING A PUBLIC HEARING
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WHEREAS, the Development Corporation Act of 1979, Article 5190 6,
Vernon's Annotated Texas Civil Statutes, as amended (the "Act) autho-
rizes and empowers the Texas Small Business Industrial Development
Corporation (the "Issuer") to issue revenue bonds on behalf of the Stave
(the "Unit"), to finance the cost of projects comprising land, build-
ings, equipment, facilities and improvements which are located within
a "Development Area" designated by the City of Fort Worth, Texas (the
"City") in accordance with the Act and which are found by the ?ssuer to
be required or suitable for the promotion of commercial development and
expansion and for use by commercial enterprises and in furtherance of
the public purposes of the Act, and,
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WHEREAS, the City Council adopted a Resolution on December 17, 1985,
designating part of the City as a Development Area, which Resolution has
not been amended and is in full force and effect as of the date hereof;
and,
WHEREAS, on November 14, 1985, the Issuer adopted a Resolution
authorizing the issuance of Industrial Development Revenue Bonds by the
Issuer to finance the cost of facilities (the "Project") to,,.be owned by
the Company, described in Exhibit A hereto to accomplish `the specific
public purpose for which the Issuer was created; and,
WHEREAS, the rules of the Texas Economic Development Commission
(the "TEDC Rules") require posting of notice of such public hearing
and whereas the Executive Director of the Texas Economic Development
Commission has waived the required time such notice must be posted,
and,
WHEREAS, the City Council has held such public hearing after posting
notice pursuant to the waiver of the Executive Director and has conducted
such hearing in such a manner that provided a reasonable opportunity for
persons with differing views on the location and nature of the Project
to be heard, and,
hHEREAS, the Act provides that the Cit-, b-, Resolution must specif-
ically approve the Project after postin, notice and holding a public
hearing, with respect thereto,
CITY OF FORT WORTS
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NOW, THEREFOR® BE IT RESOLVED BY THE CIOCOUNCIL OF THE
CITY OF FORT WORTH, TEXAS
Section 1 The City Council herebv finds, determines, recites
and declares that a public hearing with respect to the Project was held
on this date, and that notice of such public hearing, was posted prior
to this date
Section 2 The Citv Council hereby specifically approves she
Project as required by the TEDC Rules, and finds and determines that
a the Project is located in the Development Area
and is in furtherance of the public purposes of
the Act, and
b the Project contributes significantly to the fulfillment
of the redevelopment objectives of the City for the
Development Area
ADOPTED AND APPROVED this day of ,
I
198
MAYOR
CITY OF FORT WORTH, TEXAS
ATTEST-
CITY CLERK, CITY OF FORT WORTH, TEXAS
(SEAL)
CITY ATTORNEY'S OFFICE
BY
APPROVED BY
CITY COUNCIL
DEC 17 1985
City Semetary of the
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EXHIBIT A
PROJECT DESCRIPTION
The Project consists of the construction of a building
consisting of approximately 10,168 square feet on approximately
1.378 acres of land located at Lots 7 through 10; 17 through 10
and A, Block 24 of Sycamore Heights Addition more commmonly known
as the northwest corner of Scott Street at Taft, Fort Worth, Texas.
The Project will be owned and operated by Russell, Turner
Laird, Attorneys, and will be used by the owners as an office
building.
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