HomeMy WebLinkAboutResolution 1110-0W
i
• •
A Mesolution
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 MAX L. SPILLAR (THE "COMPANY") TO BE FINANCED THROUGH
THE ISSUANCE OF BONDS BY THE TEXAS SMALL BUSINESS INDUSTRIAL DEVELOP-
MENT CORPORATION FOLLOWING A PUBLIC HEARING
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 State
(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 issuer 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,
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 cf 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,
WHEREAS, the Act provides that the Citv by Resolution must specif-
icall% approve the Project after posting notice and holding a public
hearing with respect thereto,
D
CITY OF FORT WORTH
NOW, THEREFORE, IT RESOLVED BY THE CITY JONCIL OF THE
CITY OF FORT WORTH, TEXAS
r ' '
Section 1 The City Council hereby 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
Ito this date
Section 2 The City Council hereby specifically approves the
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
198
MAYOR
CITY OF FORT WORTH, TEXAS
ATTEST
CITY CLERK, CITY OF FORT WORTH, TEXAS
(SEAL)
CITY ATTORNEY'S OFFICE
BY
APPROVED SY
CITE' COUNCIL
DEC 17
City secretGry of the
City of Fog Y,62;k xer
®n
P
CITY OP FORT WORTH
r
EXHIBIT A
PROJECT DESCRIPTION
The Project consists of the acquisition of
approximately 22,417 square feet of land and the
construction thereon of a building consisting of
approximately 14,000 square feet for use as a general office
building.
The Project will be owned and operated by Max L.
Spillar and will be located at 750 North Freeway, Fort
Worth, Texas.
'
r