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HomeMy WebLinkAboutResolution 6009-09-2024 (2)A Resolution NO. 6009-09-2024 RESOLUTION APPROVING THE ISSUANCE OF THE RESEARCH AND INNOVATION LOCAL GOVERNMENT CORPORATION CONTRACT REVENUE BONDS, SERIES 2024. AND THE CORPORATION'S ADOPTION OF A RESOLUTION AUTHORIZING THE ISSUANCE OF SAID BONDS; ESTABLISHING SALE PARAMETERS THAT MUST BE MET BEFORE THE CORPORATION MAY ADOPT SAID BOND RESOLUTION; AND ENACTING OTHER PROVISIONS RELATING TO THE SUBJECT WHEREAS, the Research and Innovation Local Government Corporation (the "Corporation") was created under the auspices of the City of Fort Worth, Texas (the "City"); and WHEREAS, on September 24, 2024, the Corporation anticipates adopting a resolution (the "Bond Resolution") authorizing the issuance and sale of the Research and Innovation Local Government Corporation Contract Revenue Bonds, Series 2024 (the "Bonds"); and WHEREAS, the City Council hereby finds and determines that it is in the best interests of the City and the Corporation for the Corporation to issue and sell the Bonds for the purposes stated in the Bond Resolution, subject to the parameters set forth herein; and WHEREAS, it is deemed necessary and advisable that this Resolution be adopted; and WHEREAS, it is officially found, determined and declared that the meeting at which this Resolution has been adopted was open to the public, and public notice of the date, hour, place and subject of said meeting, including this Resolution, was given, all as required by the applicable provisions of Chapter 551, Texas Government Code. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS, THAT: 1. The Corporation is hereby authorized to adopt the Bond Resolution, and the Bonds may be -issued for the purpose of providing all or a portion of the cost of the project as specified in the Bond Resolution (the "Project"); and said Bond Resolution, Bonds and Project are hereby approved, subject to the conditions set forth in Section 2 hereof. 3 2. The Corporation or its designated representative is hereby authorized to enter into a Purchase, and Investment Letter and sell the Bonds, subject to the following parameters: (i) the aggregate original principal amount of the Bonds shall not exceed $18,000,000; (ii) no Bond shall mature after November 15, 2044; and (iii) the all -in true interest cost of the Bonds shall not exceed 8.50%. 3. This Resolution shall be effective immediately upon its adoption by the City Council. Adopted this 17th day of September 2024. ATTEST: By:,_LI::rC'r-w--- J nette S. Goodall, City Secretary GENERAL CERTIFICATE THE STATE OF TEXAS COUNTIES OF TARRANT, DENTON, PARKER, WISE AND JOHNSON CITY OF FORT WORTH We, the undersigned, hereby officially certify that we are the City Manager and the City Secretary, respectively, of the City of Fort Worth, Texas (the "City"), and we further certify as follows: General 1. That this Certificate is given for the benefit of the Attorney General of the State of Texas (the "State") and the purchasers and holders of the Research and Innovation Local Government Corporation. Contract Revenue Bond, Series 2024, in the aggregate principal amount of $17,435,000 (the "Bonds"). 2. That on September 17, 2024, the City Council of the City duly adopted a resolution (the "City Resolution") approving the issuance of the Bonds by the Research and Innovation Local Government Corporation (the "Corporation."). 3. That any certificate signed by any official of the City delivered to the purchasers of the Bonds or the Attorney General of the State shall be deemed a representation and warranty by the City as to the statements made therein. The Public Finance Division of the Office of the Attorney General of the State is hereby authorized to date this Certificate as of the date of approval of the Bonds and is entitled to rely upon the accuracy of the information contained herein unless notified by telephone or telecopy to the contrary. Matters Relating to the City 4. That the City is a duly incorporated home -rule municipality that adopted its charter under Section 5, Article XI, Texas Constitution, has more than 50,000 inhabitants, and operates and exists under the Constitution and laws of the State and the duly adopted Home Rule Charter of the City, which Charter. has not been amended since the issuance of the most recent obligations approved by the Attorney General of the State. 5. That no litigation is pending against the City or the City Council or, to the best of our knowledge, threatened against the City or the City Council: (i) to restrain or enjoin the issuance, approval or delivery of the Bonds, (ii) contesting in any way the existence of the Corporation, or the title or authority of the governing body or directors of the Corporation or (iii) in any way contesting (a) the right and power of the City in connection with any action taken by it towards the issuance of the Bonds or (b) the titles of the current officers of the City to their respective offices. b. That the seal an impression of which appears below is the corporate seal of the City; that said seal has been used continuously as such corporate seal for more than forty years and was duly adopted as the seal of the City by the City Council of the City; -and that since its adoption, no seal other than said seal has been used as the corporate seal of the City. SIGNED AND SEALED this City Mana City of FohWorth, Texas Qr�q!�A' jz�-�Q!20 CiT pecretary, CitVof Fort Worth, Texas b�-Q �"E (City Seal) 00 °�Lya� ° o a 0 AV 0 General Certificate of the City Research and Innovation Local Government Corporation Contract Revenue Bond, Series 2024 THE STATE OF TEXAS COUNTIES OF TARRANT, DENTON, WISE, PARKER AND JOHNSON CITY OF FORT WORTH I, Jannette S. Goodall, City Secretary of the City of Fort Worth, in the State of Texas, do hereby certify that I have compared the attached and foregoing excerpt from the minutes of the regular, open, public meeting of the City Council of the City of Fort Worth, Texas held on September 17, 2024, and of the resolution authorizing the adoption of a resolution by the Research and Innovation Local Government Corporation authorizing the issuance of Corporation Contract Revenue Bonds, which was duly passed at said meeting, and that said copy is a true and correct copy of said excerpt and the whole of said resolution. Said meeting was open to the public, and public notice of the time, place, and purpose of said meeting was given, all as required by Chapter 551, Texas Government Code, as amended. In testimony whereof, I have seLmy hand and have hereunto affixed the seal of said City of Fort Worth, this 4, day of , 2024. �Secretary the C of Fort Worth, Texas (SEAL)