HomeMy WebLinkAboutResolution Research and Innovation Local Government Corporation (RILGC) FWRILGC-2024-07RESOLUTION NO. FWRILGC-2024-07
AUTHORIZING ISSUANCE OF SERIES 2024 CONTRACT REVENUE BONDS
WHEREAS, the Texas Transportation Corporation Act, Chapter 431 of the Texas
Transportation Code ("Act"), and Chapter 394 of the Texas Local Government Code ("Chapter
394") authorize the creation of a local government corporation to aid and act on behalf of local
governments to accomplish a governmental purpose of the local governments;
WHEREAS, the Texas A&M University System ("TAMUS") plans to develop four
parcels of land in downtown Fort Worth that will house the Texas A&M University School of Law
and other TAMUS functions alongside private firms in a manner that encourages innovation and
entrepreneurship within an urban research campus environment ("Project");
WHEREAS, in 2023, recognizing the benefits of the Project to downtown Fort Worth, the
City of Fort Worth (the "City") created the Research and Innovation Local Government
Corporation (the "Corporation") to facilitate financing of the Project; and
WHEREAS, the Corporation previously authorized execution of an Interlocal Agreement
with TAMUS to detail the collaboration between TAMUS and the Corporation concerning the
development of pre -construction design and cost estimates (the "Plan") for the Texas A&M Fort
Worth Research and Innovation Building that will be part of the Project
WHEREAS, the Corporation previously authorized the execution of a Design and Pre -
construction Agreement ("DPCA") with AFWP, LLC ("Developer") in an amount not to exceed
$19,700,000.00 to develop the Plan;
WHEREAS, it is necessary for the Corporation to issue Series 2024 Contract Revenue
Bonds to pay for the Plan for the Texas A&M Fort Worth Research and Innovation Building in an
amount not to exceed $18,000,000.00.
NOW, THEREFORE, BE IT RESOLVED BY THE CORPORATION:
1. The Corporation is hereby authorized to issue Contract Revenue Bonds, Series
2024, to pay for the Plan for the Texas A&M Fort Worth Research and Innovation Building in an
amount not to exceed $18,000,000.00, which includes debt issuance and other related costs.
2. This Resolution shall take effect from the date of its adoption.
Adopted this September 24, 2024.
RESOLUTION NO. FWRILGC-2024-07
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By:
Elizabeth Beck
President
Attest:
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Jannette S. Goodall
Corporate Secretary