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Home My WebLink About1985-12-22-0200PM-Special. p t rs , r' i i S I M5 DEC 17 11'1 S. 24 BR.AZOS COUNTY BRYAN. TBXAB AGENDA FOR COMMISSIONERS' COURT MEETING - SUNDAY, DECEMBER 22, 1985, 2:00 P.M. 1. CONSIDERATION OF RESOLUTION OF BRA20S COUNTY COMMISSIONERS COURT RELATING TO APPROVAL OF THE BRA20S COUNTY INDUSTRIAL DEVELOPMENT CORPORATION REVENUE BONDS (CITY OF COLLEGE STATION/AQUA SUPPLY CORPORATION PROJECT) SERIES 1985 io 46 w , i VOL i I , COMMISSIONERS' COURT SPECIAL MEETING DECEMBER 22,1985 A Special Meeting of the Commissioners Court of Brazos County, Texas, was held on Sunday, December 22, 1985 at 2:00 P.M. in the Commissioners Courtroom of the Brazos County Courthouse, Bryan, Texas with the following members of the Court present: R. J. Holmgreen, County Judge, presiding: Bill J. Cooley, Commissioner of Precinct 1; Walter Wilcox, Commissioner of Precinct 2; Billy E. Beard, Commissioner of Precinct 3; Milton Turner, Commissioner of Precinct 4. Other persons present were: Chuck R. Clements William S. Thornton Carol Polumbo Virginia Kirk T. C. Taylor Ruth McLeod r~ WTAW/KTAW LTPWK Reynolds, Allen & Cook The Eagle Aqua Resources Admin. Asst. The Court considered a RESOLUTION APPROVING THE RESOLUTION OF THE BRAZOS COUNTY INDUSTRIAL DEVELOPMENT CORPORATION REVENUE BONDS (CITY OF COLLEGE STATION/AQUA SUPPLY CORPORATION PROJECT) SERIES 1985. The Resolution was explained to the Court, where- upon Commissioner Beard moved for the adoption of the Resolution. The motion was seconded by Commissioner Wilcox and carried un- animously. A full copy of the Resolution is attached to and made a part of these minutes. There being no further business the meeting was adjourned. i i 1 i i i 1 G , 4 I ~ I The foregoing minutes have been examined and approved in open Court this the a 7W day of 19_. in Bryan, Brazos County, Texas. .u II ( I r I mgreen B Cooley County Judge Co ssioner. P cinct 1 3;e / 'Palter Wilcox Billy F//Beard Commissioner. Precinct 2 Commi oner, Precinct 3 Milton urner ran Bor s ie Commissioner, Precinct 4 County Clerk 0 Y f ~ i 1 a i Y ~ I ~y w ~ t i G t S~ VOL PAGE A72- 1 ~7 t t • , 1 1 i w' r, f; I r rr , r . LI 1 , , • . t Y 1 ~ I I 1~ _j RESOLUTION APPROVING THE RESOLUTION OF THE BRAZOS COUNTY INDUSTRIAL DEVELOPMENT CORPORATION PROVIDING FOR THE ISSUANCE OF BRAZOS COUNTY INDUSTRIAL DEVELOPMENT CORPORATION INDUSTRIAL DEVELOPMENT REVENUE BONDS (CITY OF COLLEGE STATION, TEXAS/AQUA SUPPLY CORP. PROJECT) SERIES 1985 WHEREAS, the Brazos County Industrial Development Corporation (the "Issuer") was created as a duly constituted authority and instrumentality of Brazos County (the "Unit") pursuant to the Development Corporation Act of 1979, Article 5190.6, Vernon's Texas Civil Statutes, as amended (the "Act"); WHEREAS, pursuant to section 103(k) of the Internal Revenue Code of 1954, as amended (the "Code"), the Unit has conducted a public hearing following reasonable public notice (which notice and affidavit of publication thereof is attached hereto as Exhibit "A") with respect to that issue of "Brazos County Industrial Development Corporation Industrial Development Revenue Bonds (City of College Station, Texas/Aqua Supply Corp. Project) Series 1985" in the original principal amount of $1,765,000 (the "Bonds") and the project which consists of a 2,000,000 gallon elevated water storage facility to provide the City of College Station, Texas with additional water storage capacity for fire prevention and additional water supply (the "Project"); WHEREAS, in order to satisfy the requirements of section 103(k) of the Code, it is necessary for the Unit to approve the Bonds after the public hearing has been held: WHEREAS, Section 215(f) of the Act requires that the governing body of the Unit approve the resolutions of the Issuer providing for the issuance of the Bonds no more than 60 days prior to the delivery of the Bonds= and WHEREAS, it is deemed necessary and advisable that this Resolution be adopted= THEREFORE, BE IT RESOLVED BY THE COMMISSIONERS COURT OF BRAZOS COUNTY, TEXAS THATt Section 1. The Resolution with respect to a Public Hearing And Authorizing Brazos County Industrial Development Corporation Industrial Development Revenue Bonds (City of College Station, Texas/Aqua Supply Corp. Project) Series 19851 a Loan Agreementl an Indenture of Trust j Acceptance of a Deed of Trust and Security Agreementl a Bond Purchase Agreementl and Other Matters in Connection Therewith# adopted by the Issuer on December 22, 19851 a copy of which is attached hereto as Exhibit "B" and made a part hereof for all purposes, is hereby specifically approved. 1 J , 1 k~ir1 1 ' S 1 ' + i i 1 i r t M1 r , 71 ' J ..-rte-n. ..'.,.n.-.~ .-J....._ _ % r 1 • . . r 1 ~ I I ~ ~,jj I f i - 5 v l i' i Section 2. The issue of bonds styled "Brazos County Industrial Development Corporation Industrial Development Bonds (City of College Station, Texas/Aqua Supply Corp. Project) Series 1985" which Bonds are: (1) in the maximum principal amount of $1,765,000; (2) to be used to provide financing for the construction operation, maintenance and acquisition of a 2,000,000 gallon elevated water storage facility; (3) to be owned by the User and operated by Whalen Corporation, and (4) to be located at Greens Prairie Road at State Highway 6 in College Station, Brazos County, Texas, are hereby approved pursuant to section 103(k) of the Code. Section 3. The Unit hereby assigns to the Issuer who is empowered to issue Private Activity Bonds on its behalf, its $1,765,000 allocated to it by the Texas Economic Development Commission under the directions of an executive order MW-27B of the Governor of the State of Texas with respect to that issue of Bonds styled "Brazos County Industrial Development Corporation Industrial Development Revenue Bonds (City of College Station, Texas/Aqua Supply Corp. Project) Series 1985." Section 4. The approval herein given is in accordance with the provisions of Section 25(f) of the Act and section 103(k) of the Code and is not to be construed as any undertaking by the Unit, and the Bonds shall never constitute an indebtedness or pledge of the Unit, or the State of Texas, within the meaning of any constitutional or statutory provision, and the owners of the Bonds shall never be paid in whole or in part out of any funds raised or to be raised by taxation or any other revenues of the Issuer, the Unit, or the State of Texas except those revenues assigned and pledged by the Resolution. Section 5. The programs and expenditures authorized and contemplated by the aforesaid documents are hereby in all respects approved. Section 6. The County Judge, an authorized officer acting on behalf of the County Judge, County Clerk, and the other officers of the Unit are hereby authorized, jointly and severally, to execute and deliver such endorsements, instruments, certificates, documents, or papers necessary and advisable to carry out the intent and purposes of this Resolution. (SEAL) EXHIBITS: A - Notice of Public Hearing and Affidavit of Publication B - Resolution of the Issuer i. f 71 21 .v_. Y.~"~ ~.14+i.-~~.~~~~3L~T C'7gi .~L.r,rL WY_.r4 ~~wCF r/•I'{~1-~'•.~~ ~4~vIaf14J'.YY1T.~'~F~w.~l~1f. ~ ~_L a f a I~4 r_ Jr .