HomeMy WebLinkAboutRES 1982-038 i
RESOLUTION NO. g2-3g
A RESOLUTION APPROVING ISSUAI�TCE BY GRAPEVINE
INDUSTRIAL DEVELOPMENT CORPORATION OF AN ISSUE
- IN THE AMOUNT OF $1,500,000 OF GRAPEVINE
- INDUSTRIAL DEVELOPMENT CORPORATION INDUSTRIAL
DEVELOPMENT REVENUE_BONDS (SEDALIA-MARSHALL-
_BOONVILLE STAGE LINE, INCORPORATED PROJECT)
,�,�, SERIES 1982; AND APPROVING THE RESOLUTION OF THE
' ISSUER AUTHORIZING THE BONDS AND ALL AGREEMENTS
AUTHORIZED THEREBY '
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WHEREAS, the City of Grapevine (the "Unit") has approved and authorized
the creation of the Grapevine Industrial Development Corporation (the "Issuer") as a
Texas non-profit corporation, pursuant to the provisions of the Development
Croporation Act of 1979, as amended, Article 5190.6, Vernon's Annotated Civil
Statutes (the Act"), to act on behalf of the Unit to pcomote and develop industrial
and manufaeturing enterprises; and
WHEREAS, the Issuer is authorized by the Act to issue its revenue bonds on
behalf of the Unit eor the purpose of paying all or part of the cost of a "project," as
defined in the Act, and to loan the proceeds thereof to finance all or part of the
costs thereof; and
WHEREAS, the Issuer, by resolution (the "Bond Resolution") adopted
December 21, 1982, has authorized the issuance and sale of an issue in the amount of
$1,500,000 of its Industrial Development Revenue Bonds (Sedalia-Marshall- Boonville
Stage Line, Incorporated Project) Series 1982 and by the Bond Resolution has
authorized certain Agreements and documents in connection therewith with
Sedalia-Marshall-Boonville Stage Line, Incorporated; a.cid
WHEREAS, the Aet requires that the governing body of the Unit approve by
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written resolution any agreement to issue the bonds approved by the Issuer; and
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' WHEREAS, after review, this City Council, through the adoption of this
resolution, hereby approves the Bond Resolution a.�id all agreements referred to
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therein and makes the fiiidings required by the Aet in order to approve the Project;
NQW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS:
Section 1. The iJnit, aeting through this City Council, hereby approves the
Bond Resolution a.cid agreements and Bonds therein authorized, for the purposes
therein described and referred to in the preambles hereot, a copy of whieh is on file
among the records of this meeting.
Section ?. This resolution shall take effect immediately from a.nd a,fter its
a,doption.
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PASSED AND APPROVED this 21 day of December, 1982.
Vv
Mayor, City of Gra}�eviiie, Texas
ATTEST:
City Secre y, y f rapevin , exas
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[SEAL]
APPROVED AS TO FORP,2•
City Attorney, City of apevine, �as
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