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HomeMy WebLinkAboutResolution 902 IESDLUTION FILE 1_ , Q� -2- RESOLUTION APPROVING THE ISSUANCE OF BONDS BY THE TRINITY HOUSING FINANCE CORPORATION - FORT WORTH LINCOLN OAKS APARTMENTS ASSOCIATES, LTD. PROJECT WHEREAS , on February 8 , 1983 , the Trinity Housing Finance Corporation (the "Corporation") , created by the City of Fort Worth, Texas to act on its behalf to issue bonds under the Texas Housing Finance Corporations Act (Article 12691-7 , V.A.T.C.S. ) (the "Act") , held a public hearing at which time the issuance of one or more series of bonds (the "Bonds") and the location and nature of several projects (the "Projects") (which Bonds and Projects are further described in Exhibit A attached hereto) were described and at such public hearing comments were invited from the public and anyone wishing to speak was heard; and WHEREAS, the Corporation has approved of the financing of the Projects and intends to issue its Bonds , in one or more series , the proceeds of which are to be used pursuant to the Act to defray, in whole or in part, the "development costs" (as defined in the Act) of the Projects; and WHEREAS , Section 103 (k) of the Internal Revenue Code of 1954 , as amended, requires that the governing body of the City of Fort Worth, Texas approve the aforesaid Bonds to be issued by the Trinity Housing Finance Corporation on behalf of the City of Fort Worth, Texas . BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS: Section 1 . That the City Council hereby approves of the issuance of the Bonds for the Fort Worth Lincoln Oaks Apartments Associates, Ltd. Project (more particulary described in Exhibit A attached hereto and made a part hereof) . Section 2 . That such approval is solely for the purposes of Section 103 (k) of the Internal Revenue Code of 1954, as amended, and the City of Fort Worth, Texas shall have no liabilities for the payment of the Bonds nor shall any of its assets be pledged to the payment of the Bonds. Section 3 . That all Ordinances and Resolutions and parts thereof in conflict herewith are hereby expressly repealed insofar as they conflict herewith. Section 4 . That this Resolution shall take effect immediately from and after its adoption and it is accordingly so resolved. ADOPTED AND APPROVED this 8th day of February, 1983. Mayor ATTEST: City Secretary (SEAL) ` 2 PUBLIC HEARING NOTICE �+ The Trinity Housing Finance Corporation (the "Corporation" ) will hold a public hearing at 9 : 30 A.M. on February 8 , 1983 , in the City Council Chambers at the Fort Worth City Hall located at 1000 Throckmorton , Fort Worth, Texas 76102 . Among items to be discussed will be a proposal for the issuance by the Corporation of one or more series of revenue bonds to finance or refinance the cost of land, buildings and equipment related to the acquisition and construction of the following multi-family residential developments: 1 . A development for VICK-EO?GERS , a partnership, to be located on South Riverside Drive at Glen Garden Drive in Fort Worth , Texas. The proposed revenue bonds for this development are anticipated to be issued in the approximate aggregate amount of $5 , 500 , 000 ; 2 . A development for Centreport I �.. Apartment Associates , Ltd. , a limited part- nership, to be located on Centreport Drive at Statler Court in the City of Fort Worth, Texas. The proposed revenue bonds for this development are anticipated to be issued in the approximate aggregate amount of $11 , 000 , 000 ; and 3 . A development for Fort �,7orth Iir.coln Caks Apartments Associates , Ltd. , a limited partnership, to be located on the west side of Hulen Street south of South Drive in Fort Worth, Texas. The proposed revenue honds for this development are anticipated to be issued in the approxi,-nate aggregate air.ount of $10 ,500 , 000 . All interested parties are invited to attend and express any comments they may have regarding any of these multi-family residential developments and the issuance of the above-mentioned revenue bonds . ..P EXHIBIT "A"