HomeMy WebLinkAbout2021/02/23-Agenda-AllianceAirport Authority (AAA) ALLIANCEAIRPORT AUTHORITY, INC.
Tue s day, Fe bruary 23, 2021
1:00 P.M
City Council Conference Room 2020, Second Floor
City Hall
200 Texas Street
Fort Worth, Texas 76102
Viewing Only
Television: Charter 190; One Source 7; Verizon 5; AT&T Uverse 99
City of Fort Worth Website Homepage: Watch Live Online
Board of Directors
Jungus Jordan, President Kelly Allen Gray, Director Carlos Flores, Director
Brian Byrd, Director Gyna M. Bivens, Director Cary Moon, Director
Ann Zadeh, Director Betsy Price,Director Dennis Shingleton, Vice President
Staff Liaison: Jay Chapa,Deputy City Manager
Tyler Wallach, Senior Assistant City Attorney
Reginald Zeno, Treasurer
Mary Kayser, Secretary
I. CALL TO ORDER
II. WRITTEN REPORTS
A. Financial Report through December 2020
III. ACTION ITEMS
A. Consideration of January 12, 2021 Meeting Minutes
B. Consideration of a Resolution (1) Terminating the Existence of AllianceAirport
Authority, Inc. and (2) Authorizing the President to Execute Any and All
Documents Necessary to Effectuate the Winding Up and Termination of
AllianceAirport Authority, Inc., Including, But Not Limited to, Transferring
Title to all Funds and Property Owned by Alliance Airport Authority, Inc. to the
City of Fort Worth
C. Consideration of the February 23, 2021 Minutes (Final Minutes of the
AllianceAirport Authority, Inc.)
IV. EXECUTIVE SESSION
The Board of Directors of AllianceAirport Authority, Inc. may conduct a closed meeting
to:
A. Seek the advice of its attorneys about any matter regarding the following in
which the duty of the attorney under the Texas Disciplinary Rules of
Professional Conduct of the State Bar of Texas clearly conflicts with the Texas
Open Meetings Act[Tex. Govt. Code §551.071]: (i) legal issues related to any
current agenda items
B. Discuss the purchase, sale, lease or value of real property, as authorized by
Section 551.072 of the Texas Government Code. Deliberation in an open
meeting would have a detrimental effect on the position of the Corporation in
negotiations with a third party; and
C. Discuss or deliberate negotiations relating to any economic development
negotiations, as authorized by Section 551.087 of the Texas Government
Code.
V. ADJOURN
Please Note: Members of the A1lianceAirportAuthority,Inc.,Board of Directors maybe participating remotely in
compliance with the Texas Open Meetings Act, or under the provisions provided by the Gowrnor of Texas in
conjunction with the Declaration of Disaster enacted March 13,2020.
NOTE: If physical attendance is deemed to be unsafe due to inclement weather conditions, the
Board may conduct a wholly virtual meeting via remote attendance in accordance with the orders
of the Governor of Texas. Check website for up-to-date information.
ASSISTANCE AT THE PUBLIC MEETING
The Fort W orthCity Hall and City Council Conference Room are wheelchair accessible. Persons with disabilities who plan to attendthis meeting
and who may need accommodations,auxiliary aids,or services such as interpreters,readers,or large print are requestedto contact the City's ADA
Coordinator at(817)392-8552 or e-mail ADA(&FortW orthTexas.gov at least 48 hours prior to the meeting so that appropriate arrangements can
be made. If the City does not receive notification at least 48 hours prior to the meeting,the City will make a reasonable attempt to provicb the
necessary accommodations at least two working days prior to the meeting so that appropriate arrangements can be made.
4:10 PM AllianceAirport Authority,Inc.
01/19/21
Accrual Basis Trial Balance
As of December 31,2020
Dec 31,20
Debit Credit
Chase-Operating 242,003.28
Chase-Reserve 250,000.00
Southwest-Savings 252,253.29
Accts Receivable
Land
Accounts Payable
Retained Earnings 737,150.95
Gas Lease Royalties 6,868.68
Investments:lnterest-Savings,Short-term CD 236.94
TOTAL 744,256.57 7443256.57
Page 1 of 1
4:05 PM AllianceAirport Authority, Inc.
01/19/21
Accrual Basis Profit & Loss
October through December 2020
Oct - Dec 20
Ordinary Income/Expense
Income
Gas Lease Royalties 6,868.68
Investments
Interest-Savings, Short-term CD 236.94
Total Investments 236.94
Total Income 7,105.62
Net Ordinary Income 7,105.62
Net Income 77105.62
Page 1 of 1
4:08 PM AllianceAirport Authority, Inc.
01/19/21
Accrual Basis Balance Sheet
As of December 31, 2020
Dec 31, 20
ASSETS
Current Assets
Checking/Savings
Chase - Operating 242,003.28
Chase - Reserve 250,000.00
Southwest - Savings 252,253.29
Total Checking/Savings 744,256.57
Total Current Assets 744,256.57
TOTAL ASSETS 744,256.57
LIABILITIES & EQUITY
Equity
Retained Earnings 737,150.95
Net Income 7,105.62
Total Equity 744,256.57
TOTAL LIABILITIES & EQUITY 744,256.57
Page 1 of 1
CITY OF FORT WORTH,TEXAS
CITY COUNCIL
ALLIANCEAIRPORT AUTHORITY,INC.
JANUARY 12,2021
Present:
President Jungus Jordan
Vice President Dennis Shingleton
Director Betsy Price
Director Carlos Flores
Director Gyna Givens (Video)
Director Brian Byrd (Arrived at 2:04pm)
Director Kelly Allen Gray (Video)
Director Ann Zadeh (Video)
Absent:
Director Cary Moon
City Staff:
Tyler Wallach, Senior Assistant City Attorney
Jay Chapa, Deputy City Manager
Reginald Zeno, Treasurer
Mary J. Kayser, City Secretary
I. Call to Order
With a quorum of the directors present, President Jordan called the meeting to order for the Board
of Directors of the AllianceAirport Authority, Inc., at 2:03 p.m. on Tuesday,
January 12,2021,in the City Council Conference Room, Room 2020 of the Fort Worth Municipal
Building, 200 Texas Street, Fort Worth, Texas.
II. Written Reports
a. Financial Report through October 2020
111. Action Items
a. Consideration of December 15, 2020,meeting minutes.
Motion was made by Director Price and seconded by Director Flores to approve the minutes of the
December 15, 2020,AllianceAirport Authority, Inc., meeting. Motion carried 8-0 (Moon Absent)
b. Consideration of Resolution Recommending that the Fort Worth City Council Approve the
Termination of the AllianceAirport Authority, Inc.
Mr. Robert Sturns, Director of Economic Development,provided a staff presentation.
CITY OF FORT WORTH,TEXAS
ALLIANCEAIRPORT AUTHORITY,INC.
JANUARY 12,2021
Page 2 of 2
Motion was made by Director Shingleton and seconded by Director Byrd, to approve Resolution
No.AAA-2021-01,Recommending that the Fort Worth City Council Approve the Termination of
the AllianceAirport Authority, Inc. The motion carried 8-0 (Moon absent)
VI. Executive Session
There was no Executive Session.
VIL Future Agenda Items
There were no requests for future agenda items.
VI. Adjourn
With no further business before the Corporation Board, President Jordan adjourned the meeting of
the AllianceAirport Authority, Inc., at 2:08 p.m. on Tuesday, January 12, 2021.
These minutes approved by the AllianceAirport Authority, Inc., on the of , 2021.
APPROVED:
Jungus Jordan, President
Minutes Prepared by and Attest:
Mary J. Kayser, TRMC/MMC
Secretary to the Corporation Board
RESOLUTION NO. AAA-2021-OX
ALLIANCEAIRPORT AUTHORITY, INC.
RESOLUTION
OF THE BOARD OF DIRECTORS
Terminating the Existence of the AllianceAirport Authority, Inc.
WHEREAS, AllianceAirport Authority, Inc. ("Corporation") is an industrial
development corporation created in 1989 to benefit the City of Fort Worth ("City") and to, among
other things, issue bonds to promote and develop new and expanded business enterprises in the
City, to promote and encourage employment, and otherwise to benefit the public welfare in
accordance with the Development Corporation Act of 1979, as amended;
WHEREAS, Section 501.402 of the Texas Local Government Code ("Code") allows the
Corporation, with approval by written resolution of the City Council, to terminate the
Corporation's existence if the Corporation by resolution determines that: (1) the purpose for which
the Corporation was formed has been substantially filled; and (2) all bonds issued by the
Corporation have been fully paid;
WHEREAS, the Corporation was organized for the main purpose of issuing Special
Facilities Revenue Refunding Bonds for the old American Airlines maintenance facility and a
FedEx facility as follows: (1) American Airlines (Series 2007) - $350,000,000 and (2) FedEx
(Series 2006) - $249,540,000;
WHEREAS, the bonds issued for the American Airlines maintenance facility were
deemed fully satisfied, released, and discharged upon American Airlines' emergence from
bankruptcy on or about December 9, 2013;
WHEREAS, the bonds issued for the FedEx facility were fully paid in 2016;
WHEREAS, on January 12, 2021, the Board of the Corporation ("Board") recommended
that the Fort Worth City Council ("City Council") adopt a resolution approving the termination of
the Corporation because the Corporation had substantially fulfilled the purpose for which it was
formed (i.e., issuing bonds for the American Airlines maintenance facility and the FedEx facility)
and all bonds had been fully paid;
WHEREAS, on February 2,2021, the City Council adopted Resolution No. 5339-02-2021
(Mayor and Council No. 21-0088), approving the termination of the Corporation on the basis that
the Corporation had substantially fulfilled the purpose for which it was formed and all bonds had
been fully paid;
WHEREAS, the Corporation currently owns mineral interests in Denton County, Texas
and leases those minerals per the terms and conditions of an Oil and Gas Lease,the same being
Resolution ofAllianceAirport Authority
Terminating the Existence of the AI IianceAirportAutho rity,Inc. 1 of 2
AAA Contract/Lease No. AAA-01-2011-01 ("Lease"); and
WHEREAS, after adoption of this of this Resolution, the President(or Vice President) and
the Secretary (or Assistant Secretary) of the Corporation will need to execute certain documents
to effectuate the winding up and termination of the Corporation, including, but not limited to,
transferring title to all funds and property owned by the Corporation to the City and executing a
certificate of termination to be filed with the Texas Secretary of State.
NOW, THEREFORE,BE IT RESOLVED BY THE BOARD:
Section 1. That, the Board hereby terminates the existence of the Corporation
because the Corporation has substantially fulfilled the purpose for which it was formed (i.e.,
issuing bonds for the American Airlines maintenance facility and the FedEx facility) and all such
bonds have been fully paid.
Section 2. That, the President (or Vice President) and the Secretary (or Assistant
Secretary) of the Corporation are hereby authorized to execute any and all documents necessary
to effectuate the winding up and termination of the Corporation, including, but not limited to,
transferring title to all funds and property owned by the Corporation to the City and executing a
certificate of termination to be delivered and filed with the Texas Secretary of State.
Section 3. That, pursuant to Section 501.405 of the Code, the Corporation's existence
will end on the date that the Texas Secretary of State issues a certificate evidencing the filing of
the Corporation's certificate of termination.
Section 4. That, this Resolution will be effective when adopted.
By:
Jungus Jordan
President
Attest:
Mary Kayser
Corporate Secretary
Resolution ofAllianceAirport Authority
Terminating the Existence of the AI IianceAirportAutho rity,Inc. 2 of 2
CITY OF FORT WORTH,TEXAS
CITY COUNCIL
ALLIANCEAIRPORT AUTHORITY,INC.
FEBRUARY 23,2021
Present:
President Jungus Jordan
Vice President Dennis Shingleton
Director Betsy Price
Director Carlos Flores
Director Brian Byrd
Director Cary Moon
Director Gyna Givens
Director Kelly Allen Gray
Director Ann Zadeh
City Staff:
Tyler Wallach, Senior Assistant City Attorney
Jay Chapa, Deputy City Manager
Reginald Zeno, Treasurer
Mary J. Kayser, City Secretary
I. Call to Order
With a quorum of the directors present, President Jordan called the meeting to order for the Board
of Directors of the AllianceAirport Authority, Inc., at M. on Tuesday,
February 23,2021,in the City Council Conference Room,Room 2020 of the Fort Worth Municipal
Building, 200 Texas Street, Fort Worth, Texas.
II. Written Reports
a. Financial Report through December 2020
III. Action Items
a. Consideration of January 12, 2021,meeting minutes.
Motion was made by Director and seconded by Director to approve the minutes
of the January 12, 2021, AllianceAirport Authority, Inc.,meeting. Motion carried
b. Consideration of Resolution (1) Terminating the Existence of AllianceAirport Authority,
Inc., and (2) Authorizing the President to Execute Any and All Documents Necessary to
Effectuate the Winding Up and Termination of AllianceAirport Authority, Inc., Including,
But Not Limited to,Transferring Title to all Funds and Property Owned by AllianceAirport
Authority, Inc. to the City of Fort Worth
CITY OF FORT WORTH,TEXAS
ALLIANCEAIRPORT AUTHORITY,INC.
FEBRUARY 23,2021
Page 2of2
Motion was made by Director and seconded by Director , to approve Resolution
No. AAA-2021-02, (1) Terminating the Existence of AllianceAirport Authority, Inc., and (2)
Authorizing the President to Execute Any and All Documents Necessary to Effectuate the Winding
Up and Termination of AllianceAirport Authority, Inc., Including, But Not Limited to,
Transferring Title to all Funds and Property Owned by AllianceAirport Authority,Inc. to the City
of Fort Worth. The motion carried
c. Consideration of the February 23, 2021, meeting minutes (Final minutes of the
AllianceAirport Authority, Inc.)
Ms. Mary Kayser, Secretary to the Corporation Board, reviewed the final minutes with the Board.
Motion was made by Director and seconded by Director to approve the minutes
of the February 23, 2021, AllianceAirport Authority, Inc., meeting as presented. Motion
carried
IV. Executive Session
There was no Executive Session.
V. Adjourn
With no further business before the Corporation Board, President Jordan adjourned the meeting of
the AllianceAirport Authority, Inc., at p.m. on Tuesday,February 23, 2021.
These minutes approved by the AllianceAirport Authority, Inc., on the 23rd of February, 2021.
APPROVED:
Jungus Jordan, President
Minutes Prepared by and Attest:
Mary J. Kayser, TRMC/MMC
Secretary to the Corporation Board