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Home My WebLink About6180-10-2025 - City Council - ResolutionA Resolution NO. 6180-10-2025 APPROVING, FOR PURPOSES OF SECTION 147(f) OF THE INTERNAL REVENUE CODE, OBLIGATIONS ISSUED BY THE ROSEBUD CULTURAL EDUCATION FACILITIES FINANCE CORPORATION FOR THE BENEFIT OF TEXAS WESLEYAN UNIVERSITY WHEREAS, the Rosebud Cultural Education Facilities Finance Corporation (the "Issuer") is empowered pursuant to Chapter 337, Texas Local Government Code (the "Act"), to issue its obligations in order to enable a nonprofit corporation to acquire, construct, enlarge, extend, repair, renovate, or otherwise improve an educational and/or cultural facility or any facility incidental, subordinate, or related to or appropriate in connection with an educational and/or cultural facility; and WHEREAS, Texas Wesleyan University (the "Borrower"), a Texas nonprofit corporation, proposes to obtain financing from the Issuer from the proceeds of one or more series of the Issuer's bonds or notes, pursuant to a plan of financing, in a maximum amount not to exceed $13,500,000 (the "Obligations"), and will use the proceeds of the Obligations to finance and/or refinance the costs of the acquisition, construction, renovation and/or equipping of school and ancillary facilities including a field house and stadium, all located at 1201 Wesleyan St, Fort Worth, TX 76105 (the "Project"); and WHEREAS, pursuant to the provisions of section 147(f) of Internal Revenue Code of 1986, as amended (the "Code"), the Issuer has caused to be published a notice of public hearing (the "TEFRA Notice") with respect to the issuance of the Obligations and the financing of the Project, and held such a hearing (the "TEFRA Hearing") on October 22, 2025, after reasonable notice, with evidence of the publication and hearing attached hereto as an exhibit; and WHEREAS, pursuant to the provisions of section 147(f) of the Code, the City Council of the City of Fort Worth, Texas, after the TEFRA Hearing was conducted, must approve issuance of the Obligations by the Issuer to enable the Obligations to qualify as tax-exempt obligations under the Code. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH, TEXAS THAT: 1. The City Council, solely for purposes of section 147(f) of the Code, as the elected legislative body having jurisdiction over the area in which the facilities proposed to be financed and/or refinanced are located, hereby approves the proposed issuance of the Obligations. pursuant to a plan of financing, by the Issuer to finance and/or refinance the Project for the benefit of the Borrower, in an amount not to exceed $13,500,000 and authorizes Mayor Mattie Parker to execute the attached Approval Certificate evidencing such approval. 2. The foregoing approval is given in accordance with the provisions of section 147(f) of the Code and for no other purposes, and is not to be construed as an undertaking by the 47230435v.1 City of Fort Worth. THE OBLIGATIONS SHALL NOT CONSTITUTE A LIABILITY, INDEBTEDNESS, OR AN OBLIGATION OF THE CITY OF FORT WORTH, NOR SHALL ANY OF THE ASSETS OF THE CITY OF FORT WORTH BE PLEDGED TO THE PAYMENT OF THE OBLIGATIONS. 3. This resolution shall take effect immediately from and after its passage in accordance with the provisions of the Charter of the City of Fort Worth, and it is accordingly so resolved. PASSED AND APPROVED, this October 28, 2025. A- Mattic Parker, Mayor APPROVED AS TO FORM AND LEGALITY: By: eann Guzman, CiJAoetty ATTEST: 1 SEX D►�•� By: Jante Goodall, City Secretary 47230435v.1 1. Project Location :G a ihood e� o Mt Vernon Ave Lancaster Laundry Q Z Retiy niture lyd 0 McLean St l St Mums & Party Century Motel � Ga ice Carrion Ridge Ave � a Camilla St d r O 4 m Koch St y c Q Event Staffing with Kelly a SO Panola Ave Panola Ave Q v, Elsie St a -1Ave 9 Haxeline Rd y fo `a m CC Fla `.- U a s H Family Dollar( m ti Vickery Blvd E Vickery at,; I 'web Dr Avenue A Avenue A t7 C m Avenue A a In Chandelier BallQ room Lt Super ice house a B V s d ti ac 1Q •/yam y H m Z a7 c 0 � m Avenue B , N Botas Rojero e v Avenue C 9y® Avenue C Avenue C10 Avenue C Texas iic Senior Avenue 0 Wesleyan Avenue 0 Foodland Markets 4 lh school —0. University � Avenue E Avenue E Avenue E Rosedale St E Rosedale Si E Rosedale St fA } 47230435v.1 4 CERTIFICATE OF PUBLIC HE_>1RIN G I, the undersigned, hereby certify in connection with a series of loan transactions to be entered into by the Rosebud Cultural Education Facilities Finance Corporation (the "Coiporarionr"), Texas Wesleyan University ("Bon-ou W') and PNC Bank, National Association in the maximum aggregate principal amount of $13,500,000 (the "Loans") for the benefit of Borrower, as follows. 1. I served as Hearing Officer for the Corporation for the purpose of financing andlor refinancing all or a portion of the costs of the acquisition, construction, renovation and+`or equipping of school and ancillary facilities including a field house and stadium, all located at 1201 Wesleyan St, Fort Worth, TX 76105 (collectively, the "Project"). ?. Such hearing was conducted commencing on October 22, 2025 at 10:00 a.m. by toll fine telephonic means accessible to the general public. 3. At the time for the commencement of the hewing, comments, either orally or in writing, were publicly requested on the Project to be financed with proceeds of the Loan and on the making of the Loans. 4. At the hearing, [ x ] no persons presented comments orally or in writing. [ ] the comments summarized on the attached were made orally by the persons listed therein. [ ] the written comments attached hereto were presented. 5. No time limitations were imposed on any public comments. IN WITNESS y'bIIEREOF, I have hereunto set my hand this October 22, 2025. 47230696v.1 47230435v.1 /4/ /Heafing&cer The Beaufort Gazette Baharn I The Heral"un The Modesto Bee The BoseWio News -Democrat Fart Worm Star-TeMeram The Sun News - Myrtle Beach Bettlngham Herald The Fresno Bee Raleigh Newt &Observer SunkDaily Times The Rock HN I The Herald Son Heraldte Me lat��iy The Kan*" City Star Kan* City The Sacramento Bee Idaho Statesman Lexington NersM-Leader San Luis Obispo Tribune Bradenton Herald The Telegraph . Macon Twonst I The News Tdbrms The Charlotte Observer Merced Sumstar Tn-Cray Hefaid The State Miami Herald The vwCNIA Eagle Ledqer-EnQuWr El Nuevo Herald The Oynplen AFFIDAVIT OF PUBLICATION MCK" a Order Ntanber I Idendficift I order PO I Ode I Depth IPLO281106 I Legal Ad - IPLO281106 ATTENRON: Hoang Vu 1401 Md(inrley Houston, TX 77010 hvuljw.conn -------------------------------------------- NOT1Ca: OF PUBLIC H[Af N * NOTICE IS HEFI®y WEN bat e public hearing wet be hell on behetl of Roaebld Wheal Education Feci - Np Frunze Corporation tar Cor- ponsonj ■ noprofil corporation on October 22. 2025 commencing at 10fl0 am to provide an oppoHrr sty kr as Interested person to be herd ant rsepemt bar or more bans "unliieed 50110p) bonds as defined in Section 146 of to internal Revwm Code of 1986, as amondeo Iom PNC Brim. National Association On iarden 10 to corporation In to meld man sm " of $13.500= and one or more tow from M CaporaRbn to TOM wealryan UnF veraiy few 'Borrower) In the sans amount fodMcMy. to 'Leans'): an putwa be one ofrmore ban agree- mm by and ana the Corpora- ue. to LwW*r and IM Borrorer. The Inane are being made, pursan los plan d IYaaclrry for thepurpose of it - hot q and/or rarYnandnp aI or a Perth of the coals d to so%ial- lion construction. rsnovatlon and/ or equppiq of school and ancillary tactless including a lid house and sladkan a1 located at 1201 Wesley- an St, Fat Worth, TX 76105 (cdtea- NaM the 'ricjsct ). A patkm of to proceeds of to Low WE be used b pay 0~ ieveraae in canree- tbn with the bwance of the Wens, The Prcjed Is or vrli be am by to Bonewer The Law am not payable out at suss and am seared by and payable set* Tram ludo pmrlded by err Borravar. At tlr Itor and place set for tlr pub- ic hearing, * , , - d wraerr VAN be given a r - , A Is opporMiir te ex- press curl Were both orNy tote tele- phonic particpstbn) and In wr9lq, an to merst of the Project, the Loans or nteted nalrt. Members of M public mey, iseen to and contribute to ante rJbdasbn tkrrip er hertV by dIOV: 1-U6,246-7799. nwllp D: M $113 2931, puscoda: 040186. Persons wishing to pareefpsls ettoup sWns1 a vrtten recuad to speak to hvuO*..rwm at host 24 hours' k h is aM1p: however, er hi s l dlI- car will also provide ems for additional mnnmraa driq the haarup- Or wrodu may roe asceed 9.e miner in duratlat v1Hln oont ne, maybe snbmlaed by sera bar Prsdiar4 of ate Bond of Dleclors of er Corpo- ration We Jackson YYaker I.I.P. Atsr: Nora 1h4 hvuO*co n uta the ems and rite of err heating. PL02111106 Oct 15 2025 47230435v.1 1.0 1 69.01. THESTATEOFTEXAS COUNTY OFTARRANT i Before me, a Notary Pubic in and for said County and State, this day personally appeared the tllldersipn ed, Bid and Legal Coordinator for the Star -Telegram, published bythe Stu Telegram, hnc. at Fort Worth, in Tarrant County, Torras; and who, after being duly sworn, did depose and say that the attached dipping of an advertisement was published in the I above maned paper on the fisted dates. The Fort Worth Stu Telegram is generally circulated In Tarrant County. 1.0 irLsertion(s) Wbkhed on: 10/15/25 Print r n r : n Marketplace Link r r r e -- Julie Ambry r i r n r C5 8 e&5&ev rRID e r i Swoon to and s ibearbed before I me on Oct 15. 2025. 10:06 AM ED' r 4[rr e r r rrBeJy.woe.rvrmf.mnadq'SIGNW i i CERTIFICATE OF MAYOR OF CITY OF FORT WORTH, TEXAS REGARDING ISSUANCE OF OBLIGATIONS OF ROSEBUD CULTURAL EDUCATION FACILITIES FINANCE CORPORATION (TEXAS WESLEYAN UNIVERSITY) WHEREAS, a public hearing was held on October 22, 2025 by the Rosebud Cultural Education Facilities Finance Corporation (the "Issuer") with respect to the proposed issuance of one or more series of obligations to be issued by the Issuer, pursuant to a plan of financing, in an aggregate principal amount not to exceed $13,500,000 (the "Obligations"), to finance and/or refinance the costs of the acquisition, construction, renovation and/or equipping of school and ancillary facilities including a field house and stadium, all located at 1201 Wesleyan St, Fort Worth, TX 76105 (the "Project"), and no member of the public appeared at such public hearing; and WHEREAS, it is necessary for the undersigned, as the highest elected official of the City of Fort Worth, Texas, to approve the Obligations and the Project to satisfy the requirements of section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"); and WHEREAS, on October 28, 2025, the City Council of the City of Fort Worth, Texas adopted a resolution approving the Obligations to satisfy the requirements of section 147(f) of the Internal Revenue Code of 1986, as amended ( the "Code") and authorizing the highest elected official of the City of Fort Worth, Texas, to execute this Certificate evidencing such approval; and NOW, THEREFORE, the undersigned Mayor of the City of Fort Worth, Texas, hereby approves the issuance of the Obligations, pursuant to a plan of financing, in an aggregate principal amount not to exceed $13,500,000 to finance and/or refinance the Project, and such approval shall be solely for the purposes of section 147(f) of the Internal Revenue Code of 1986, as amended, and the City of Fort Worth, Texas shall have no liabilities for the payment of the Obligations nor shall any of its assets be pledged to the payment of the Obligations. In Witness Whereof, I have set my hand this October 28, 2025. By: l Mayor, city of Fort Worth, Texas 47230435v.1