Loading...
R-80-314 - 7/24/19802 p RESOLUTION N0. 31 R a ` RESOLUTION APPROVING AGREEMENT TO ISSUE BONDS BY AND BETWEEN ROUND ROCK INDUSTRIAL DEVELOPMENT CORPORATION AND TELLABS, (TEXAS) INC. WHEREAS, the City of Round Rock, Texas (the "Unit "), a political subdivision, has approved and authorized the creation of the Round Rock Industrial Development Corporation (the "Corporation ") as a Texas nonprofit corporation, pursuant to the provisions of the Development Corporation Act of 1979, Article 5190.6, Vernon's Annotated Texas Civil Statutes (the "Act "), to act on behalf of the Unit to promote and develop commercial, industrial and manufacturing enterprises to promote and encourage employment and the public welfare; and WHEREAS, the Corporation is authorized by the Act to issue industrial development revenue bonds on behalf of the Unit for the purpose of paying all or part of the cost of a commercial, industrial or manufacturing "project," as defined in the Act, and to sell or lease the project or to loan the proceeds of the bonds to finance all or part of the costs of the project; and WHEREAS, the Corporation now proposes to enter into an Agreement to Issue Bonds with Tellabs, (Texas) Inc. (the "User "), pursuant to which the Corporation agrees, subject to certain conditions, to issue its tax exempt industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated not to exceed $3,500,000, to provide funds to defray all or part of the cost of acquiring and constructing certain commercial, industrial or manufacturing facilities (the "Project ") to be constructed by or to be leased or sold to the User; and WHEREAS, the site on which the Project will be constructed (the "Project Site ") is located outside of the boundaries, but within the extraterritorial jurisdiction, of the Unit and within the unincorporated_'' area of Williamson County (the "County "); and c WHEREAS, the User has indicated that after it has purchased the Project Site it will submit a petition to the Unit for annexation'of the Project Site and the City Council currently expects to act favorably upon such petition for annexation; and WHEREAS, the City Council considers that the construction of the . y - , Project on the Project Site will benefit the City by p and • developing commercial, industrial and manufacturing enterprises to promote . and encourage employment and the public welfare within the City; and WHEREAS, the Commissioners' Court of the County has requested by THAT: written resolution that the Corporation exercise its powers within the unincorporated area of the County with respect to the Project; and WHEREAS, the Act requires that the Governing Body of the Unit approve by written resolution any agreement to issue bonds adopted by the Corporation, which agreement and resolution shall set out the amount and purpose of the bonds; and WHEREAS, the City Council of Round Rock (the "Governing Body ") has reviewed the form and substance of the proposed Agreement of Issue Bonds between the Corporation and the User and intends, by adoption of this written resolution, to approve said Agreement to Issue Bonds in accordance with the Act; HOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, Section 1: The Agreement to Issue Bonds, in the form attached hereto, proposed to be entered into by and between the Corporation and the User, pursuant to which the Corporation agrees, subject to the conditions stated therein, to authorize and issue its industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now extimated not to exceed $3,500,000 to provide funds to de- fray all or part of the cost of the acquisition and construction of the commercial, industrial or manufacturing facility described in Exhibit "A" to said Agreement to Issue Bonds, is hereby approved in accordance with Section 25(f) of the Act. Section 2. This resolution is adopted for the purpose of satisfying the conditions and requirements of the Act and Section 103 of the.Internal Revenue Code of 1954; as amended, and the regulations promulgated there - under and for the benefit of the Corporation, the Unit, the owners. or -2- holders from time to time of the obligations of the Corporation and all other interested persons. Section 3. The Governing Body has considered evidence of the posting of notice of this meeting and officially finds, determines, re- cites and declares that a sufficient written notice of the date, hour and place of this meeting and of the subject of this resolution was posted on a bulletin board at a place convenient to the public in the City Hall of the Unit for at least 72 hours preceding the scheduled time of such meeting; such place of posting was readily accessible to the general public at all times from such time of posting until the scheduled time of such meeting; and such meeting was open to the public as required by law at all times during which the resolution and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Law, Article 6252 - 17, Vernon's Annotated Texas Civil Statutes, as amended. PASSED AND APPROVED this 24th day of July, 1980. ATTEST: ,O/ /L /L' i' ("NNE LAND, Cl - y 4 ecretary RY L. TONN, MA OR City of Round.lRock, Texas -3- 6 STATE OF TEXAS COUNTY OF WILLIAMSON CITY OF ROUND ROCK (Seal) CERTIFICATE OF RESOLUTION * * I, the undersigned officer of the City of Round Rock (the "Unit "), do hereby execute and deliver this Certificate for the benefit of all persons interested in proceedings of the City Council (the "Governing Body ") of the Unit and the validity thereof, and do certify as follows: 1. I am the duly chosen, qualified and acting officer of the Unit for the office shown below my signature; as such I am familiar with the facts herein certified; and I am duly authorized to execute and deliver this Certificate. 2. The Governing Body convened in Regular Session on the 24th day of July, 1980, at the regular meeting place thereof, and the roll was called of the duly constituted officers and members of the Governing Body and all of said persons were present, except the following: + NONE thus constituting a quorum. Whereupon, among other business, the following was transacted at said meeting: a written resolution was introduced for the consideration of the Governing Body. It was then duly moved and seconded that said Resolution be adopted; and, after due discussion, said motion, carrying with it the adoption of said Resolution, prevailed and carried by ' the vote of 7 Ayes, 0 Noes, and • 0 a Abstention., 3. A true and complete copy of the aforesaid Resolution adopted at the meeting is attached to and follows this Certificate. 4. Such Resolution has been duly and lawfully adopted by the Governing , Body and has been duly recorded in the minutes of the Governing Body for' . such meeting. y' 5. Written notice of the date, hour, place and subject of the meeting of the Governing Body was posted on a bulletin board located at a place convenient to the public in the City Hall of the Unit for at least 72 hours preceding the scheduled time of such meeting; such place of posting was readily accessible to the general public at all times from such time of posting until the scheduled time of such meeting; and such meeting was open to the public as required by law at all times during which the Resolution and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Law, Article 6252 -17, Vernon's Annotated Texas Civil Statutes, as amended. SIGNED AND SEALED this 12th day of August, 1980. JOANNE LAND, City Secretary City of Round Rock, Texas THE STATE OF TEXAS COUNTY OF WILLIAMSON CERTIFICATE OF POSTING OF NOTICE OF MEETING I, the undersigned officer of the City of Round Rock, Texas, do hereby make and execute this Certificate and I do hereby certify as follows: 1. I am the duly chosen, qualified and acting officer of the City for the office shown beneath my signature, and in such capacity I am familiar with the matters contained in this Certificate. 2. This Certificate is provided for the benefit of all persons interested in the posting of notice of a meeting of the City Council (the "Governing Body ") of the City of Round Rock, as required by the Open Meetings Law (Article 6252 -17, Vernon's Annotated Texas Civil Statutes, as amended) and the validity of all actions and proceedings taken at such meeting. 3. The attached and following is a true and correct copy of the Notice of Meeting which was posted by me on a bulletin board located at a place in the City Hall of the City convenient to the public; such place was readily accessible to the general public at all times from the time of such posting until the scheduled time of said meeting; and such Notice of Meeting was posted at 4:00 o'clock p.m. on the 21st day of July, 1980, prior to the scheduled time of said meeting of the Governing Body. WITNESS MY HAND AND THE OFFICIAL SEAL OF THE CITY, this 12th day of August, 1980. (SEAL) By JOANNE LAND, City Secretary RESOLUTION APPROVING AGREEMENT TO ISSUE BONDS BY AND BETWEEN ROUND ROCK INDUSTRIAL DEVELOPMENT CORPORATION AND TELLABS, INC. WHEREAS, the City of Round Rock, Texas (the "Unit "), a political subdivision, has approved and authorized the cre- ation of the Round Rock Industrial Development Corporation (the "Corporation ") as a Texas nonprofit corporation, pursuant to the provisions of the Development Corporation Act of 1979, Article 5190.6, Vernon's Annotated Texas Civil Statutes (the "Act "), to act on behalf of the Unit to promote and develop commercial, industrial and manufacturing enterprises to promote and encourage employment and the public welfare; and WHEREAS, the Corporation is authorized by the Act to issue industrial development revenue bonds on behalf of the Unit for the purpose of paying all or part of the cost of a commercial, industrial or manufacturing "project," as defined in the Act, and to sell or lease the project or to loan the proceeds of the bonds to finance all or part of the costs of the project; and flea hf \ l WHEREAS, the Corporation now propos to enter into an Agreement to Issue Bonds with Tellabs, Inc. (the "User "), pursuant to which the Corporation agrees, subject to certain conditions, to issue its tax exempt industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated not to exceed $3,500,000, to provide funds to defray all or part of the cost of acquiring and constructing certain commercial, industrial or manufacturing facilities (the "Project ") to be constructed by or to be leased or sold to the User; and WHEREAS, the site on which the Project will be constructed (the "Project Site ") is located outside of the boundaries, but within the extraterritorial jurisdiction, of the Unit and within the unincorporated area of Williamson County (the "County "); and WHEREAS, the User has indicated that after it has purchased the Project Site it will submit a petition to the Unit for annexation of the Project Site and the City Council currently expects to act favorably upon such petition for annexation; and WHEREAS, the City Council considers that the construction of the Project on the Project Site will benefit the City by promoting and developing commercial, industrial and manufactur- ing enterprises to promote and encourage employment and the public welfare within the City; and WHEREAS, the Commissioners' Court of the County has requested by written resolution that the Corporation exercise its powers within the unincorporated area of the County with respect to the Project; and WHEREAS, the Act requires that the Governing Body of the Unit approve by written resolution any agreement to issue bonds adopted by the Corporation, which agreement and resolution shall set out the amount and purpose of the bonds; and WHEREAS, the City Council of Round Rock (the "Governing Body ") has reviewed the form and substance of the proposed Agreement to Issue Bonds between the Corporation and the User and intends, by adoption of this written Resolution, to approve said Agreement to Issue Bonds in accordance with the Act; NOW, THEREFORE; BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK, TEXAS, THAT: Section 1: The Agreement to Issue Bonds, in the form attached hereto, proposed to be entered into by and between the Corporation and the User, pursuant to which the Corpora- tion agrees, subject to the conditions stated therein, to authorize and issue its industrial development revenue bonds in the aggregate principal amount (excluding bonds issued to refund any of the Bonds) now estimated not to exceed $3,500,000 to provide funds to defray all or part of the cost of the acquisition and construction of the commercial, industrial or manufacturing facility described in Exhibit "A" to said Agreement to Issue Bonds, is hereby approved in accordance with Section 25(f) of the Act. Section 2: This Resolution is adopted for the purpose of satisfying the conditions and requirements of the Act and Section 103 of the Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder and for the benefit of the Corporation, the Unit, the owners or holders from time to time of the obligations of the Corporation and all other interested persons. -2- Section 3: The Governing Body has considered evidence of the posting of notice of this meeting and officially finds, determines, recites and declares that a sufficient written notice of the date, hour and place of this meeting and of the subject of this Resolution was posted on a bulle- tin board at a place convenient to the public in the City Hall of the Unit for at least 72 hours preceding the scheduled time of such meeting; such place of posting was readily accessible to the general public at all times from such time of posting until the scheduled time of such meeting; and such meeting was open to the public as required by law at all times during which the Resolution and the subject matter thereof were discussed, considered and formally acted upon, all as required by the Open Meetings Law, Article 6252 -17, Vernon's Annotated Texas Civil Statutes, as amended. PASSED AND APPROVED this day of July, 1980. -3-