HomeMy WebLinkAbout024551 RES - 08/21/2001 RESOLUTION APPROVING THE RESOLUTION
AUTHORITrNG THE ISSUANCE OF NOTES BY THE
CORPUS CHRISTI BUSIINESS AND JOB DEVELOPMENT CORPORATION
AND THE EXECUTION OF A SAI .ES TAX REMITTANCE AGREEMENT
AND A PROJECT AGREEMENT WITH RESPECT TO THE, ARENA PROJECT
WHEREAS, Corpus Christi Business and Job Development Corporation (the "Corporation")
was created under the auspices of the City of Corpus Christi (the "City"); and
WffER. EAS, it is deemed necessary and advisable that this Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CORPUS
CHRISTI THAT:
Section 1. The resolution (the "Resolution") adopted by the Corporation, in substantially the
form and substance as attached to this Resolution and made a part hereof for all purposes, is hereby
approved, and sales tax revenue notes in the principal amount of $5,000,000 (the "Notes"), may be
issued for the purpose of providing all or a portion of the cost of the acquisition, construction,
equipping and improvement of certain public improvements specified in the Resolution (the
"Project") for use by the City, which Project is in compliance with the Development Corporation Act
of 1979, as amended; and said Resolution, Notes and Project are hereby approved.
Section 2. The "Sales Tax Remittance Agreement," in substantially the form and substance
as attached hereto and made a part hereof for all purposes, is hereby approved and the City Manager
and the City Secretary are hereby authorized to execute, attest, seal and deliver the Sales Tax
Remittance Agreement between the City and the Corporation.
Section 3. The "Project Agreement" between the City and the Corporation, in substantially
the form and substance as attached to this Resolution and made a part hereof for all purposes, is
hereby approved and the City Manager and the City Secretary are hereby authorized to execute,
attest, seal and deliver the Project Agreement.
ATTEST:
apa, City S~re~t~y
APPROVED AS TO LEGAL FORM this
James R. Bray, Jr., City Attorney
CITY OF CORPUS CHRISTI
day of ~ ~ ~ ~Y-~ ,2001.
Corpus Christi, Texas
day of ,
The above resolution was passed by the following vote:
Samuel L. Neal, Jr.
Brent Chesney
Javier D. Colmenero
Henry Garrett
Bill Kelly
Rex A. Kinnison
John Longoria
Jesse Noyola
Mark Scott
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