R99-068 09-13-99RESOLUTION NO. R99-68
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PEARLAND,
TEXAS, AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO
EXECUTE A COOPERATION AGREEMENT WITH BRAZORIA COUNTY
PROVIDING NOTICE REQUIREMENTS PRIOR TO THE ISSUANCE OF
ANY NOTES OR BONDS ASSOCIATED WITH CITY OF PEARLAND
TAX INCREMENT REINVESTMENT ZONE NUMBER TWO.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That certain Cooperation Agreement by and between the City of
Pearland and Brazoria County, a copy of which is attached hereto as Exhibit "A" and
made a part hereof for all purposes, is hereby authorized and approved.
Section 2. That the City Manager or his designee is hereby authorized to
execute and the City Secretary to attest the original of the attached agreement for and
on behalf of the City of Pearland.
PASSED, APPROVED and ADOPTED this the __
A.D., 1999.
TOM REID
MAYOR
ATTEST:
S E(t,P, ETARY --
APPROVED AS TO FORM:
DARRI~ M. COKER
CITY ATTORNEY
THE STATE OF TEXAS
COUNTY OF BRAZORIA
COOPERATION AGREEMENT
This Agreement, made and entered into by Brazoria County, a body corporate and politic
under the laws of the State of Texas (hereinafter sometimes referred to as "County"), and the City of
Pearland, a municipal corporation under the laws of the State of Texas (hereinafter sometimes
referred to as "City").
WHEREAS, the City and County have entered into an interlocal agreement for
Tax Increment Participation associated with Reinvestment Zone Number Two, City of Pearland,
Texas; and
WHEREAS, in consideration of the County's participation, the County has requested a
separate agreement between the City and the County, requiring notice prior to the issuance of any
notes or bonds by the City; now, therefore,
The City agrees, prior to the issuance of any TIRZ bonds or notes by the City, the payment
of principal interest, or premium of which are secured by the tax increment attributable to the County
tax increment from City of Pearland Tax Increment Reinvestment Zone Number Two, to provide
the County with a copy of the City financial advisor's report certifying that the total annual tax
increment revenues, less the TIRZ administrative fees, is equal to greater than 125% of the total
annual amount to all outstanding and proposed TIRZ bond or note payments and contractual
obligations.
II.
This agreement shall be of no force and effect unless and until it is executed by both parties
hereto and as set forth below.
IN WITNESS WHEREOF this instrument in duplicate originals, has been executed by the
parties hereto as follows:
a. I~has been executed on behalf of Brazoria County on the /4 6/3 day of
~,,~_, 1999, by the County Judge of Brazoria County and attested by
the County Clerk of Brazoria County pursuant to an order authorizing such
execution.
It has been executed on behalf of the City on the /..4~ day of
-~/~.~-..f>o~' ,1999, by its City Manager and attested by its City Secretary,
pursuant to action of the City Council of the City authorizing such execution,
ATTEST: '~'~de.. ~~ BRAZORIA ~COUNTY
By:
C ountf~Clerk
ATTEST: CITY OF PE~
~ G14n R.'E~ih
CiW Manager
Y~.~r~gLor~g '~ /
~)~ S¢cr~ry ~ ~
2
STATE OF TEXAS
COUNTY OF BRAZORIA
BEFORE ME, the undersigned Notary Public, on this day personally appeared
Judge John Willy, County Judge of Brazoria County, Texas, known to me to be the person whose
name is subscribed to the foregoing instrument and acknowledged to me that he executed the same
for the purposes and consideration therein expressed.
~"~ .GIV, EN UNDER MY HAND AND SEAL OF OFFICE THIS qP-J'} DAY OF
, A.D., 19q~ .
NOTARY PUBLIC, STATE OF TEXAS
PrintedName: heri lcjn S.
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STATE OF TEXAS
COUNTY OF BRAZORIA
BEFORE ME, the undersigned Notary Public, on this day personally appeared
Glen R. Erwin, City Manager of the City of Pearland, known to me to be the person whose name is
subscribed to the foregoing instrument and acknowledged to me that he executed the same for the
purposes and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE THIS /1~'']'h DAY OF
"' --~_?te-D'l~9~t' , A.D., 19qq .
C, STATE OF TEXAS
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