HomeMy WebLinkAbout024582 RES - 09/11/2001 RESOLUTION APPROVING THE RESOLUTION
AUTHORIZING THE ISSUANCE OF BONDS BY THE
CORPUS CHRISTI BUSINESS AND JOB DEVELOPMENT CORPORATION
AND THE EXECUTION OF A SALES TAX REMITTANCE AGREEMENT,
A PROJECT AGREEMENT, AND A BOND PURCHASE AGREEMENT
WITH RESPECT TO THE SEAWALL PROJECT
WHEREAS, Corpus Christi Business and Job Development Corporation (the "Corporation")
was created under the auspices of the City of Corpus Christi, Texas (the "City"); and
WHEREAS, 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 bonds in the principal amount of $44,880,000 (the "Bonds"), may
be issued for the purpose of providing all or a portion of the cost of the project as 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, Bonds 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.
Section 4. The "Bond Purchase Agreement" between the Corporation and the underwriters
named therein, in substantially the form and substance as attached to this Resolution and made a part
hereof for all purposes, is hereby approved.
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTIES OF NUECES AND SAN PATRICIO
CITY OF CORPUS CHRISTI
We, the undersigned officers of said City, hereby certify as follows:
1. The City Council of said City convened in REGULAR MEETING ON THE 11TH DAY
OF SEPTEMBER, 2001, at the City Hall, and the roll was called of the duly constituted officers and
members of said City Council, to-wit:
Samuel L. Neal, Jr.
Brent Chesney,
Javier D. Colmenero,
Henry Garrett,
Bill Kelly,
Rex Kinnison,
John Longoria,
Jesse Noyola,
Mark Scott
David Garcia,
James Bray,
Jorge Cruz-Aedo,
Armando Chapa,
Mawr
Councilmembers
City Manager,
City Attorney,
Director of Fiscal Services,
City Secretary
and ail of said persons were present, except the following absentee.L~ ~fg[~, ~u~constituting
a quorum. Whereupon, among other business, the following was transacted"~t said Meeting: a
written
RESOLUTION APPROVING THE RESOLUTION
AUTHORIZING THE ISSUANCE OF BONDS BY THE
CORPUS CHRISTI BUS1NESS AND JOB DEVELOPMENT CORPORATION
AND THE EXECUTION OF A SALES TAX REMITTANCE AGREEMENT,
A PROJECT AGREEMENT, AND A BOND PURCHASE AGREEMENT
WITH RESPECT TO THE SEAWALL PROJECT
was duly introduced for the consideration of said City Council and read in full. It was then duly
moved and seconded that said Resolution be passed; and, after due discussion, said motion carrying
with it the passage of said Resolution, prevailed and carried by the following vote:
AYES:
NOES:
2. That a true, full and correct copy of the aforesaid Resolution passed at the Meeting
described in the above and foregoing paragraph is attached to and follows this Certificate; that said
Resolution has been duly recorded in said City Council's minutes of said Meeting; that the above and
foregoing paragraph is a true, full and correct excerpt from said City Council's minutes of said
Meeting pertaining to the passage of said Resolution; that the persons named in the above and fore-
going paragraph are the duly chosen, qualified and acting officers and members of said City Council
as indicated therein; that each of the officers and members of said City Council was duly and
sufficiently notified officially and personally, in advance, of the time, place and purpose of the
aforesaid Meeting, and that said Resolution would be introduced and considered for passage at said
Meeting, and each of said officers and members consented, in advance, to the holding of said
Meeting for such purpose, and that said Meeting 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.
SIGNED AND SEALED the 1 lth day of September, 2001.
City Secretary
Armando Chapa
SEAL
Corpus Christi, Texas
/ l°0Xday 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