R-83-575 - 12/23/1983h •
RESOLUTION NO. r 575 /E
RESOLUTION OF THE CITY COUNCIL APPROVING THE ISSUANCE OF BONDS BY
THE ROUND ROCK INDUSTRIAL DEVELOPMENT CORPORATION TO FINANCE A
PROJECT FOR TELLABS (TEXAS), INC.
WHEREAS, by resolution the City Council (the "Governing
Body ") of the City of Round Rock (the "Unit "), authorized and
approved the creation of the Round Rock Industrial Development
Corporation (the "Corporation ") as a nonprofit industrial de-
velopment corporation under the provisions of the Development
Corporation Act of 1979, Article 5190.6, Vernon's Annotated Texas
Civil Statutes (the "Act "); and
WHEREAS, by resolution adopted on December 8, 1983, the
Governing Body approved Resolution of the Corporation ('Resolu-
tion") which Resolution authorized the issuance of industrial
development revenue bonds by the Corporation to finance the cost
of facilities to accomplish the specific public purpose for which
the Corporation was created;
WHEREAS, in accordance with the terms of the Resolution, the
Corporation now desires to sell and provide for the issuance and
sale of its $3,100,000 Round Rock Industrial Development Revenue
Bonds, (Tellabs (Texas), Inc. Project) Series 1983 (the "Bonds "),
and has adopted a resolution substantially in the form attached
hereto as Exhibit "A" (the "Bond Resolution "); and
WHEREAS, the Act provides that the Governing Body must, by
written resolution adopted no more than sixty (60) days prior to
the date of the sale of the Bonds,' specifically approve the
resolution of the Corporation providing for the issuance of the
Bonds;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF ROUND ROCK, TEXAS, THAT;
Section 1. The Bond Resolution of the Corporation providing
for the sale and issuance of the bonds, substantially in the form
attached hereto as Exhibit "A ", is hereby approved.
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.
RESOLVED this 23rd day of December
AT T: /
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