HomeMy WebLinkAboutResolution 965 i-a�4
RESOLU'iiON FILE NO. y�'
CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS
The City Council of the City of Fort Worth ( the "City" ) met
in sffetital session at the regular place of meeting at 10 : 00
o ' clock a.m. on January 24 , 1984 . Notice of such meeting was
duly posted in advance , and such meeting was open to the
public, all as required by law. The roll was called, showing
all of the following members of the City Council to be present :
Herman F . Stute Dwaine Johnson
Bert C. Williams Russell Lancaster
Jim A. Bagsby Richard C . Newkirk
T Louis J . Zapata Kathy Wetherby
Bob Bolen
thus constituting a quorum.
Among other business, the following resolution was introduced
and the passage of such resolution was moved by Councilman
fiete and seconded by Mayer--$alen:
rA SOLUTION APPROVING THE ISSUANCE OF BONDS
HE TRINITY HOUSING FINANCE CORPORATION
AS, the Trinity Housing Finance Corporation
(the Issuer" ) , a public non-profit corporation
organized pursuant to the Texas Housing Finance
Corporations Act , Vernon ' s Revised Civil Statutes
Annotated, article 12691-7 , as amended ( the "Act" ) ,
proposes to issue $9 ,500,000 aggregate principal
amount of its Multi-Family Housing Revenue Bonds
(Briscoe Enterprises , Ltd. II Project ) Series 1984A
( the "Bonds" ) and to loan the proceeds thereof to
Frontier Federal Savings and Loan Association, a
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savings and loan association organized under the laws
.Nor of the United States ( the "Lender" ) , on the condition
that the Lender make a mortgage loan to Briscoe
Enterprises , Ltd. II , a limited partnership formed
under the laws of the State of Texas , to provide
construction and permanent financing for a
multi-family residential development ( the "Project" )
to be located within the boundaries of the City of
Fort Worth , Texas (the "Local Governmental Unit" ) all
for the public purpose of providing decent, safe and
sanitary housing for residents of the Local
Governmental Unit at prices they can afford; and
WHEREAS , on March 29 , 1983 , the Issuer , pursuant
to a public notice duly published on March 10 , 1983 ,
held a public hearing regarding the issuance of the
Bonds , which was intended to comply, and did comply,
in all respects with the provisions of Section
103 ( k ) ( 2 ) ( B) and ( E ) of the Internal Revenue Code of
1954 , as amended (the "Code" ) , and Section 215 of the
Tax Equity and Fiscal Responsibility Act of 1982
(TEFRA) , which require that the issuance of
" industrial development bonds" (within the meaning of
Section 103 (b ) of the Code ) must be approved by the
"elected legislative body" of the "governmental unit"
issuing the Bonds or on whose behalf the Bonds are
issued after a public hearing following reasonable
public notice; and
WHEREAS, the Issuer is a duly constituted
authority and an instrumentality of the Local
Governmental Unit, within the meaning of those terms
as defined in the regulations of the Department of the
Treasury and the rulings of the Internal Revenue:
Service promulgated and prescribed under the Code ; and
WHEREAS, the City Council , as the elected
legislative body of the Local Governmental Unit ,
desires to approve the issuance of the Bonds for the
purposes of Section 103 ( k ) ( 2 ) (B) of the Code and
Section 215 of TEFRA.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY
..� COUNCIL, that the issuance of the Bonds hereby is
approved for the purposes of Section 103 ( k ) ( 2 ) (B) of
the Code and Section 215 of TEFRA and the Issuer
hereby is authorized to file this Certificate in the
Transcript of Proceedings for the Bonds and to file a
copy hereof with any state or federal agency, board or
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commission as may be required by any applicable state
or federal laws , rules or regulations .
After due discussion , the question was called and the
motion for passage was voted upon , the results of such vote
being as follows • �S �l i �06��G •`�
Ayes . �!J �
J
Nayes : &PW4'jCz1
Absent at vote: 2"-K J
The requisite number of directors having voted for passage, the
foregoing resolution was declared adopted .
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