HomeMy WebLinkAboutResolution AllianceAirport Authority (AAA) AAA-2021-02 RESOLUTION NO. AAA-2021-02
ALLIANCEAIRPORT AUTHORITY, INC.
RESOLUTION
OF THE BOARD OF DIRECTORS
Terminating the Existence of the AllianceAirportAuthority,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 of AllianceAirport Authority
Terminating the Existence of the AllianceAirport Authority,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.
J ngu ordan
resid t
Attest:
i
Mar/Kayser
Corporate Secretary
Resolution of AllianceAirport Authority
Terminating the Existence of the AllianceAirport Authority,Inc. 2 of 2
MINERAL.DEED
Date: February 23, 2021
Grantor: AllianceAirport Authority, Inc., a Texas industrial development
corporation
Grantor's Mailing
Address: C/O City of Fort Worth
Attn: Director of Economic Development Department
200 Texas Street
Fort Worth, Tarrant County, Texas 76102
Grantee: City of Fort Worth
Grantee's Mailing
Address: 200 Texas Street
Fort Worth, Tarrant County, Texas 76102
Consideration: Termination of Grantor's legal status in the State of Texas and distribution
of its assets to Grantee per Section 501.406 of the Texas Local
Government Code
Property: ,' All of Grantor's right, title and interest in arid to all of the oil, gas and
other minerals in and under and that may be produced from that certain
202.0947 acres of land, more or less, out of the G. Overton Survey, A-972
and the A. McDonald Survey, A-786, Tarrant County, Texas, as more
particularly described in Exhibit "A," attached hereto and incorporated
herein for all purposes, together with the right of ingress and egress at all
times for the purpose of mining, drilling, exploring, operating and
developing said Property for oil, gas and other minerals and storing,
handling, transporting and marlceting the same therefrom with the right to
remove from said land all of Grantee's property and improvements.
This Mineral Deed is made subject to any rights now existing to any lessee or assigns
under any valid and subsisting oil and gas lease of record heretofore executed; it being
understood and agreed that said Grantee shall have, receive, and enjoy the herein granted interest
in and to all bonuses,rents, royalties and other benefits which may accrue under the terms of said
lease insofar as it covers the above described land from and after the date hereof, precisely as if
Grantee herein had been, at the date of the making of said lease the owner of this interest in and
to the Property.
Grantor agrees to execute such further assurances as may be requisite for the full and
complete enjoyment of the rights herein granted.
Grantor, for the Consideration, conveys to Grantee the Property together with all and
Mineral Deed Page 1 of 5
singular the rights, privileges and appurtenances thereto in any way belonging, to have and to
hold it to Grantee and Grantee's successors, administrators, and assigns forever. Grantor does
hereby warrant said title to Grantee's successors, administrators, and assigns forever and does
hereby agree to defend all and singular the said property unto the said Grantee herein their
successors, administrators, and assigns against all and every person or persons whomsoever
lawfully claiming or to claim the same or any part thereof.
Grantor: Grantee:
AllianceAirport Authority, Inc. The City of Fort Worth
By: By: � —
Ju us ardan, 4sident Jay Chapa,Deputy City anager
Approved as to form and legality:
By:
Matthew A. Murra ,
Assistant City Attorney
After recording,return to:
City of Fort Worth
Attn: Property Management Department
900 Monroe Street Suite#400
Fort Worth Texas 76102
Mineral Deed Page 2 of 5
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on 2021, by Jungus
Jordan the President of the AllianceAirport Authority, Inc., a Texas industrial development
corporation, on behalf of such corporation.
��`111ja MARY J. KAYSER
Ot ry P tat f T S
Not Public, State of Texas
Comm. Expires 01-11 2025
Notary ID 3896065
THE STATE OF TEXAS §
COUNTY OF TARRANT §
This instrument was acknowledged before me on , 2021, by Jay Chapa,
Deputy City Manager of the City of Fort Worth, a Texas home-rule municipality, on behalf of
such municipality.
otary Publ' a o exa
MA13YJ. KAYSER
n Notary puhlic,State of
, Texas f}}zv•....�yv�� Comm. Expires 01-11-2025
Notary ID 3896065 �{
Mineral Deed Page 3 of 5
EXHIBIT A
Being 202.0947 acres of land, more or less, out of the G. Overton Survey, A-972 and the A.
McDonald Survey, A-786, and being more particularly described in that certain Special
Warranty Deed dated March 1, 1990 from American Airlines, Inc. as Grantor, to AllianceAirport
Authority, Inc. as Grantee, recorded in Volume 2750, Page 636 of the Real Property Records of
Denton County, Texas and being more particularly described as follows:
Commencing at the northerly northwest corner of said Alliance Airport, Ltd. tract, said corner
being on the east right-of-way line of the A.T.S.F Railroad(100 feet wide);
Thence South 24 degrees 16 minutes 15 seconds West, along said east line, a distance of 228.70
feet to a point for a corner, said corner being the intersection of said east line with the south
right-of-way line of proposed Eagle Parkway(120 feet wide);
Thence South 65 degrees 43 minutes 45 seconds East, departing said east line, and along said
south line, a distance of 12.33 feet the point of curvature of a circular curve to the left having a
radius of 1210.00 feet;
Thence Easterly, continuing along said south line, and along said curve through a central angle
of 19 degrees 39 minutes 07 seconds, an arc distance of 415.02 feet to an iron rod set for the
point of beginning;
Thence Easterly, continuing along said south line, and along said curve through a central angle
of 14 degrees 30 minutes 20 seconds, and whose back tangent bears South 85 degrees 22 minutes
53 seconds East, an arc distance of 306.34 feet to an iron rod set for the point of tangency;
Thence North 80 degrees 06 minutes 47 seconds East, continuing along said south line, a
distance of 2384.54 feet to an iron rod set for a corner;
Thence South 9 degrees 53 minutes 13 seconds East, departing said south line, a distance of
1579.40 feet to an iron rod set for a corner;
Thence South 60 degrees 02 minutes 26 seconds East, a distance of 1146.43 feet to an iron rod
set for a corner, said corner being on the northerly right-of-way line of proposed Taxiway "H"
extension (300 feet wide), said corner also being on a circular curve to the right having a radius
of 1050.00 feet and whose back tangent bears South 36 degrees 47 minutes 47 seconds West;
Thence Southwesterly, along said North line, and along said curve through a central angle of 43
degrees 19 minutes 00 seconds, an are distance of 793.82 feet to an iron rod set for the point of
tangency;
Thence South 80 degrees 06 minutes 47 seconds West, continuing along said north line, a
distance of 3308.39 feet to an iron rod set for a corner, said corner being on the west line of said
Alliance Airport, Ltd. tract, said corner also being on the east right-of-way of a tract of land
conveyed to the City of Fort Worth, known as the Alliance Airport, as recorded in Volume 9279,
Page 388 of the Deed Records of Tarrant County, Texas, and Volume 2382, Page 209 of the
Deed Records of Denton County, Texas;
Mineral Deed—Exhibit A Page 4 of 5
Thence North 9 degrees 53 minutes 13 seconds West, departing said north line, along the
common line between said City of Fort Worth tract and Alliance Airport tract, a distance of
1100.00 feet to an iron rod found for a corner;
Thence North 1 degree 21 minutes 22 seconds West, continuing along said, common line, a
distance of 364.73 feet to an iron rod found for a corner;
Thence North 43 degrees 37 minutes 06 seconds West, departing said common line, a distance of
225.00 feet to an iron rod found for a corner;
Thence North 73 degrees 52 minutes 55 seconds West, a distance of 421.87 feet to an iron rod
found for a corner, said corner being on said common line between said City of Fort Worth tract
and said Alliance Airport, Ltd. tract;
Thence North 9 degrees 53 minutes 13 seconds West, along said common line, a distance of
103.14 feet to an iron rod set for a corner, said corner being on the easterly right-of-way line of a
proposed street (60 feet wide);
Thence North 24 degrees 16 minutes 15 seconds East, departing said common line, and along
said easterly line, a distance of 204.11 feet to an iron rod set for the point of curvature of a
circular curve to the right having a radius of 430.00 feet;
Thence Northeasterly, continuing along said easterly line, and along said curve through a central
angle of 53 degrees 07 minutes 34 seconds, an are distance of 396.71 feet to an iron rod set for
the point of reverse curvature of a circular curve to the left having a radius of 490..00'feet;
Thence Northeasterly, continuing along said easterly line, and along said curve through a central
angle of 68 degrees 56 minutes 11 seconds, an arc distance 529.55 feet to an iron rod set for a
corner;
Thence North 51 degrees 16 minutes 36 seconds East, continuing along said easterly line a
distance of 21.69 feet to the Point of Beginning and Containing 202.0947 acres of land, more or
less.
Mineral Deed—Exhibit A Page 5 of 5