HomeMy WebLinkAboutResolution 914 L 3 _Z, —P 3 I
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CITY COUNCIL OF
THE CITY OF FORT WORTH, TEXAS
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The City Council of the City of Fort Worth (the "City" ) met in
regular session at the regular place of meeting at 10:00 o' clock
A.M. on March 29, 1983. 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
Louis J. Zapata Kathy Wetherby
Bob Bolen
except none, who was absent, thus constituting a quorum. Among other
business, the following resolution was introduced and the passage of
such resolution was moved by Councilman Stute and seconded by Mayor
Bolen:
A RESOLUTION APPROVING THE ISSUANCE OF BONDS
BY THE TRINITY HOUSING FINANCE CORPORATION
WHEREAS, 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 not to
exceed $20,000,000 aggregate principal amount of its
Multi-Family Housing Revenue Bonds (Frontier Federal
Savings and Loan Association Project) Series 1983B (the
"Bonds" ) and to deposit the proceeds thereof with Frontier
Federal Savings and Loan Association, a savings and loan
association organized under the laws of the United States
(the "Lender" ) , on the condition that the Lender make a
mortgage loan in a like amount 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 sani-
tary 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 Responsi-
bility Act of 1982 (TEFRA) , which require that the issu-
ance 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 meanings of those terms as defined in the regu-
lations 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 Sec-
tion 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 commission as may be required by
any applicable state or federal laws, rules or regula-
tions .
After due discussion, the question was called and the motion
for passage was voted upon, the results of such vote being as fol-
lows:
Ayes: Bolen, Newkirk, Zapata, Lancaster, Williams, Bagsby,
St ute and Wetherby
Nays: None
Absent at vote: Johnson
The requisite number of directors having voted for passage, the
foregoing resolution was declared adopted.
CERTIFICATE
I , Ruth Alexander, the City Secretary of the City of Fort
Worth, Texas (the "City" ) , DO HEREBY CERTIFY as follows:
I . A regular meeting of the City Council of the City was
duly called, convened and conducted on March 29, 1983. The meeting
was held at the usual meeting place of the City Council , and a
quorum was present and acting throughout the meeting. Notice of the
meeting was duly given, and the meeting was open to the public, all
in accordance with law.
2 . The foregoing pages of typewritten material constitute a
true, accurate and complete copy of a resolution adopted by the City
Council at the meeting and all proceedings of the City Council taken
y in connection therewith.
3 . The original of the above-referenced resolution and related
proceedings has been filed in the record of the City Council .
IN WITNESS WHEREOF, I have executed this Certificate on this
the 5th day of April, 1983.
Ruth Alexander, City Secretary
Nee