HomeMy WebLinkAbout0124_123123
A RESOLUTION AUTHORIZED AND PROVIDING FOR THE
ISSUANCE UNDER THE DEVELOPMENT CORPORATION
ACT OF 1979 (AS AMENDED) BY THE GEORGETOWN
INDUSTRIAL CORPORATION OF ITS INDUSTRIAL
DEVELOPMENT REVENUE BOND (LAURA WEIR-CLARKE &
FRED W. CLARKEI FOR THE PURPOSE OF FINANCING
CERTAIN FACILITIES FOR LAURA WEIR-CLARKE &
FRED W. CLARKE AUTHORIZING THE EXECUTION AND
DELIVERY OF A LOAN AGREEMENT BETWEEN SAID
INDUSTRIAL DEVELOPMENTC'ORPORATION AND LAURA
WEIR-CLARKE & FRED W. CLARKE: AUTHORIZING
THE EXECUTION AND DELIVERY OF AN ASSIGNMENT
AND SECURITY AGREEMENT TO SECURE SAID BOND;
AUTHORIZING THE SALE OF SAID BOND TO THE
PURCHASER THEREOF; AUTHORIZING THE EXECUTION
AND DELIVERY OF A BOND PURCHASE AGREEMENT IN
CONNECTION THEREWITH; AUTHORIZING AND
PRESCRIBING OTHER MATTERS PERTAINING TO THE
ISSUANCE OF SAID BONDS; AND FOR OTHER
PURPOSES.
WHEREAS, the Georgetown Industrial Development Cor-
poration (the "Issuer"), on behalf of the City of Georgetown,
Texas (the "Unit"), is authorized and empowered by the provisions
of the Development Corporation Act of 19799 Article 5190.6,
Vernon's Annotated Revised Civil Statutes, as amended (the
"Act"), to issue its bonds For t'he purpose of defraying all or
parts of the cost of any land, buildings, facilities, equipment
and improvements located within the boundaries of the Unit and
found by the Board of Directors of the Issuer to be required or
suitable for industrial development, all upon such terms as the
Board of Directors of the Ieeuer shall deem advisable enO as
shall not conflict with the apouis-ions of the Act or any c*o-
vision of the laws :^r Constitution of the State of Texas; and
WHEREAS, !euta Weir -Clarke h Fred W. Clarke, (':he
"User") , has 'presonts': the issuer a proposal whereby t'is
Issuer will finance a coition of the cost of renovating the old
Masonic Lodge locatel irk 'Georgetown, Texas, ( the "Pro j i—,:t" )
located within the boundarie•a of the Unit, for ug.e by Le!xa
Weir -Clarke & Fred W. Clarke and the Project qualifise Qs e
"project" which may be finaicad ourevant tc the Arty; and
WHEREAS, pursue^t to a resolution cf the Issuer adooted
on May 16, 1983, the Issuer agreed to issue its bonds for the
purpose of financing all or a portion of the cost of the Project;
and
WHEREAS, the Board of Directors of the Issuer (the
"Board") has heretofore and does now find and determine that it
is desirable to pro.vide for the issuance of its Industrial
Development Revenue Bund (Laura Weir -Clarke 6 Fred W. Clarke