HomeMy WebLinkAboutResolution 4268-12-2013 A Resolution
NO. 4268-12-2013
RESOLUTION APPROVING, FOR PURPOSES OF SECTION 147(f) OF THE
INTERNAL REVENUE CODE, THE EDUCATION REVENUE BONDS (TEXAS
CHRISTIAN UNIVERSITY) SERIES 2013A ISSUED BY THE RED RIVER
EDUCATION FINANCE CORPORATION AND THE FACILITIES TO BE
FINANCED WITH THE PROCEEDS OF THE BONDS
WHEREAS, the Red River Education Finance Corporation (the "Issuer") is
empowered pursuant to Chapter 53A, Texas Education Code, to enter into contractual
obligations in order to assist educational institutions in financing or refinancing the
acquisition, purchase, or lease, or the construction, renovation or other improvement of,
education facilities or housing facilities and facilities incidental, subordinate or related
thereto or appropriate in connection therewith, and the purchase of land in connection
with such purposes; and
WHEREAS, Texas Christian University (the "Borrower") is seeking to finance
improvements to the campus of the Borrower, which is located at 2800 S. University
Blvd., Fort Worth, Texas; and
WHEREAS, the Borrower has requested that the Issuer issue bonds to finance the
renovation of and improvements to Daniel-Meyer Coliseum, including, but not limited
to, new locker rooms for the women's and men's basketball programs, event level
seating, wider concourses, new concession stands and restrooms, space for a TCU Hall of
Fame, and the construction and equipping of offices for use by athletic department
officials (collectively, the "Project") in an aggregate principal amount not to exceed
$50,000,000 (the "Series 2013A Bonds"); and
WHEREAS, pursuant to the provisions of section 147(f) of Internal Revenue Code
of 1986, as amended (the "Code"), the City Council of the City of Fort Worth, after a
public hearing following reasonable notice (the "TEFRA Hearing"), must approve
issuance of bonds by the Issuer to enable the bonds 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:
SECTION 1. That the City Council, solely for the 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
are located, hereby approves the proposed issuance of the Series 2013A Bonds by the Issuer to finance
the Campus Project for the benefit of the Borrower, in an amount not to exceed $50,000,000.
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Resolution No. 4268-12-2013
SECTION 2. That 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 City of
Fort Worth. The Series 2013A Bonds 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 Series 2013A Bonds.
SECTION 3. That 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 December 10, 2013.
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APPROVED AS TO FORM AND LEGALITY:
By: 'i! "
Sar!LFull nwider, City Attorney
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Ronald P. Gonzales, ssistant City Secretary ��� °°oo o°°° a
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