HomeMy WebLinkAbout024252 RES - 10/10/2000RESOLUTION
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI, TEXAS APPROVING THE 1SSUANCE OF UP TO $6,000,000 IN
AGGREGATE PRINCIPAL AMOUNT OF CITY OF SAN ANTONIO,
TEXAS, HIGHER EDUCATION AUTHORITY, INC. EDUCATION
REVENUE BONDS (DR. MARIA LUISA GARZA ACADEMY OF
TRANSITIONAL STUDIES CHARTER SCHOOL PROJECT), SERIES 2000
BY THE CITY OF SAN ANTONIO, TEXAS, HIGHER EDUCATION
AUTHORITY, INC. FOR THE DR. MARIA LUISA GARZA ACADEMY OF
TRANSITIONAL STUDIES CHARTER SCHOOL LOCATED IN THE CITY
OF CORPUS CHRISTI, TEXAS
STATE OF TEXAS
COUNTY OF NUECES
CITY OF COPPUS CF1RiSTI
WHEREAS, the Higher Education Authority Act, Chapter 53, Texas Education Code, as
amended (the "Act"), authorizes and empowers The City of San Antonio, T~as Higher Education
Authority, Inc. (the "lssuer") on behalf of the City of San Antonio, Texas (the "Issuing Unit"), to
acquire, by purchase, purchase contract, or lease, construct, or enlarge, extend, repair, renovate, or
otherwise improve educational facilities or housing facilities, or acquire land for those purposes,
furnish and equip the facilities, and provide by contract, lease, or otherwise for the operation and
maintenance of the facilities, and issue revenue bonds to provide funds for any of its purposes; and
WI-tEREAS, Section 53.48 of the Act provides that the Issuer may provide for the financing
and refinancing of one or more such educational facilities or housing facilities to be used by an
accredited primary or secondary school or by an authorized charter school; and
H,J-IEREAS, Section 53.33 of the Act further provides that the facilities need not be located
within the city limits of the issuing Unit; and
WHEREAS, the Issuer proposes to issue its City of San Antonio, Teras, Higher Education
Authority, Inc. Education Revenue Bonds (Dr. Maria Luisa Garza Academy of Transitional
Studies Charter School ProjecO, Series 2000, dated October 1, 2000, in the aggregate principal
amount of $6,000,000 (the "Bonds"), for the purpose of financing certain educational facilities for
the Dr. Mafia Luisa Garza Academy of Transitional Studies Charter School (the "Project"), the
proceeds of which will be loaned by the Issuer to the Gulf Coast Council of La Raza, Inc., a Texas
nonprofit corporation (the "Corporation"), for the purpose of financing the Project, which consists
of the construction and equipping of educational facilities located at The Dr. Mafia Luisa Garza
Academy of Transitional Studies Charter School owned and operated by the Corporation, and
includes, a new school to be built on 8.12 acres of land owned by the Corporation and located on the
comer of Greenwood Drive and Home Road in Corpus Christi, Texas, ~vhich school will include,
without limitation, construction of administration anti classroom building, library, technology center,
gymnasium, cafetorium, day-care facility, parking area, landscape and site improvements; and
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WHEREAS, the Project is located within the City of Corpus Christi, Texas (the "City") and
outside the limits of the Issuing Unit;
WHERE, I& Section 147(f) of the Internal Revenue Code requires that the issuance of the
Bonds be approved, af[er a public hearing following reasonable notice thereof, by the City Council
of the he City of Corpus Christi, Texas, as the governmental unit having jurisdiction over the area in
which the Project is located; and
WHEREAS, notice of a public hearing was first published in the (forpus Christi Caller Times
on July 2, 2000; and
WHEREAS, the first public hearing was held on July 17, 2000 5:00 p.m. in the Administrative
Offices of the Gulf Coast Council ofLa Raza, Inc., 2203 Baldwin Boulevard, Corpus Christi, Texas
78405, to provide an opportunity for all interested persons to be heard with respect to the proposed
issuance and sale by the Issuer of the Bonds in the aggregate principal amount of $5,000,000;
I, VHEREAS, on July 18, 2000, the City Council of the City did pass and approve a Resolution
approving the Issuance of the Bonds in aggregate principal amount of $5,000,000 as required by
Section 147(f) of the Internal Revenue Code; and
WHEREAS, the Corporation has requested to increase the aggregate principal amount of the
Bonds to up to $6,000,000 and requests that the City increase its approval to such amount; and
WHEREAS, notice of a public hearing was again published in the Corpus Christi Caller
Times on September 25, 2000; and
I, VttEREAS, a public hearing was held on September 9, 2000, 5:00 p.m. in the Administrative
Offices of the Gulf Coast Council ofLa Raza, Inc., 2203 Baldwin Boulevard, Corpus Christi, Texas
78405, to provide an opportunity for all interested persons to be heard with respect to the proposed
issuance and sale by the Issuer of the Bonds in the aggregate principal amount of up to $6,000,000;
and
WHEREAS, it is now necessary and proper for the City Council of the City to consider and
approve the issuance of the Bonds by the Issuer as required by Section 147(0 of the Internal Revenue
Code; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was passed was open to the public, and public notice of the time, place, and purpose of
said meeting was given, all as required by Chapter 551, Texas Government Code.
NOt'V,, THEREFORE, BE IT RESOLVED B Y THE CITY COUNCIL OF THE CITY 0 F
CORPUS CHRISTI, TEXAS THAT:
2
SECTION 1. APPROVAL OF THE ISSUANCE OF THE BONDS The City hereby
consents to and, as required by Section 147(f') of the Internal Revenue Code of 1986, approves of
the issuance by The City of San Auntohio, Texas. Higher Education Authority, Inc of its "City of San
Antonio, T~ras, Higher Education Authority, Inc. Educational Revenue Bonds (Dr. Maria Luisa
Garz. a Academy of Transitional Studies Charter School ProjecO, &ries 2000" (the "Bonds"),
dated October 1, 2000, in aggregate principal amount of $6,000,000, the proceeds of which are to
be loaned to the Gulf Coast Council of La Raza (the "Corporation") for the financing of certain
educational facilities for the Dr. Maria Luisa Garza Academy of Transitional Studies Charter SchooI
located in the City of Corpus Christi, Texas (the "Project") owned and operated by the Corporation;
provided that the City shall have no liability in connection with the financing, acquisition, ownership,
maintenance, or operation of the Project or the payment or security for the Bonds, and shall not be
required to take any further action with respect thereto.
SECTION 2. INCORPORATION OF RECITALS. The City hereby finds that the
statements set forth in the recitals of this Resolution are true and correct, and the City hereby
incorporates such recitals as a part of this Resolution.
SECTION 3. SEVERABILITY. If any provision of this Resolution or the application
thereof to any circumstance shall be held to be invalid, the remainder of this Resolution and the
application thereof to other circumstances shall nevertheless be valid, and this governing body hereby
declares that this Resolution would have been enacted without such invalid provision.
SECTION 4. EFFECTIVE DATE. This Resolution shall take effect immediately from and
after its adoption and it is accordingly so ordered.
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PASSED AND APPROVED by the City Council of the City of Corpus Christi, Texas, at
a Regular Meeting held this the 10th day of October, 2000.
Legal form approved ~!c_.~. ~
James R. Bray, Jr., City Attorney
,2000;
CITY OF CORPUS CHRISTI
By:
Corpus Christi, Texas
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Javier D. Colmenero
Melody Cooper
Henry Garrett
Dr. Arnold Gonzales
Rex A. Kinnison
Betty Jean Longoria
John. Longoria
Mark Scott
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