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HomeMy WebLinkAboutResolution 3093 A Resolution NO. APPROVING THE FORMATION OF THE LONE STAR LOCAL GOVERNMENT CORPORATION WHEREAS, an application in writing seeking the incorporation of a local government corporation under the provisions of Subchapter D, Chapter 431 of the Texas Transportation Code (the "Act") has been filed with the City Council of the City of Fort Worth, Texas (the "fit ') by three (3) individuals, each of whom is a resident of the City, the State of Texas and is at least eighteen (18) or more years of age; and WHEREAS, pursuant to M&C G-20113, approved by the City Council on June 8, 2004, the City Council has authorized execution of a Master Economic Development Agreement (the "MEDA") pursuant to which, among other things, Cabela's Retail, Inc. will construct an approximately 200,000 square foot retail facility for the sale of hunting, fishing and outdoor gear, which facility will include publicly-owned museum and exhibition space and is expected to attract substantial tourism in the City and to generate significant tax revenue for the City, Tarrant County, the Fort Worth Independent School District and other public entities; and WHEREAS, the MEDA anticipates the creation of a local government corporation pursuant to the Act for the purpose of, without limitation, issuing bonds to finance the construction of public infrastructure in the vicinity of the Cabela's facility and the finish-out of the publicly-owned museum and exhibition spaces within the facility; NOW,THEREFORE,BE IT RESOLVED,BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,TEXAS: 1. That the formation of a local government corporation pursuant to the Act is hereby found and determined to be necessary and advisable for the purposes set forth in the Articles of Incorporation attached hereto as Exhibit"A",which is a part of this Resolution for all purposes; and 2. That approval for the incorporation of such local government corporation, to be known as the"Lone Star Local Government Corporation,"is hereby granted. ciTY or reAT wastru 3. That the forms of the proposed Articles of Incorporation attached hereto as Exhibit "A" and the proposed Bylaws attached hereto as Exhibit `B", which is a part of this Resolution for all purposes, are hereby approved and that the appointment of initial Board of Directors of the Lone Star Local Government Corporation, as set forth in Article IX of the Articles of Incorporation, is hereby affirmed. 4. That it is hereby officially found and determined that this Resolution was adopted in a meeting open to the public, and that notice of the time, place and purpose of such meeting was given in accordance with applicable law. 5. That all previous Resolutions are hereby expressly repealed to the extent in conflict with the provisions of this Resolution. 6. That this Resolution shall take effect immediately from and after its adoption. AND IT IS SO RESOLVED. �LVED ' 1y d of 2004. Adopted this y ATTEST: By: SylY 'ia Glover �APPP�-` D j Acting City Secretary CIT 411 CA JUG` 15 ?004 Rd1s+ Gstg�:�r©tar of MG CRY etTv or grew r woutru