R85-12 05-28-85RESOLUTION NO. R85-12
RESOLUTION APPROVING RESOLUTION OF
PEARLAND INDUSTRIAL DEVELOPMENT CORPORATION
CONCERNING ISSUANCE OF BONDS TO FINANCE A PROJECT FOR
JAMES A. BANFIELD AND RONALD HAUSMAN,
A TEXAS JOINT VENTURE
THE STATE OF TEXAS §
COUNTY OF BRAZORIA §
WHEREAS, the board of directors (the "Board") of the Pearland Industrial
Development Corporation has, by a Resolution Concerning Issuance of Bonds to
Finance a Project for James A. Banfield and Ronald Hausman, a Texas joint
venture, adopted May 20 , 1985 (the "Resolution"), agreed and declared
its intent to issue its limited obligation revenue bonds pursuant to the terms
of the Development Corporation Act of 1979, Article 5190.6, Vernon's Texas
Civil Statutes, as amended (the "Act") and such other statutes as may provide
authority therefor, to finance the costs of the project and in the amount set
forth in the Resolution for the benefit of James A. Banfield and Ronald
Hausman, a Texas joint venture; and
WHEREAS, the City Council of the City of Pearland, Texas, finds and
declares that the action of the Board approving the Resolution should be
approved and is in the best interests of the inhabitants of the City of
Pearland, Texas, for the reasons therein set forth;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PEARLAND, TEXAS, THAT:
Section 1: The Resolution, as adopted by the board, agreeing and
declaring an intent to issue limited obligation revenue bonds for the purposes
and in the amount set forth in the Resolution is hereby approved.
Section 2: This Resolution is adopted for the purpose of satisfying the
conditions and requirements of the Act and Section 103 of the Internal Revenue
Code of 1954~ as amended, and the regulations promulgated thereunder.
0585074
WP0401
CERTIFICATE FOR
RESOLUTION APPROVING RESOLUTION OF THE
PEARLAND INDUSTRIAL DEVELOPMENT CORPORATION
CONCERNING ISSUANCE OF BONDS TO FINANCE A PROJECT FOR
JAMES A. BANFIELD AND RONALD HAUSMAN,
A TEXAS JOINT VENTURE
I, the ~mdersigned City Secretary of the City of Pearland, Texas (the
"Unit"), hereby certify as follows:
1. The City Council (the "Governing Body") of the Unit convened in
regular session at Pearland, Texas on May 28 , 1985 (the "Meeting"), at
the designated meeting place, and the roll was called of the duly constituted
members of the Governing Body, to-wit:
Tom Reid
Terry Gray
A1 Lentz
James Bost
Dennis Frauenberger
Richard Tetens
Mayor
Councilman
Councilman
Councilman
Councilman
Councilman
All of such persons were present, except the following absentees:
none , thus constituting a quorum. Whereupon a written:
RESOLUTION APPROVING RESOLUTION OF
PEARLAND INDUSTRIAL DEVELOPMENT CORPORATION
CONCERNING ISSUANCE OF BONDS TO FINANCE A PROJECT FOR
JAMES A. BANFIELD AND RONALD HAUSMAN,
A TEXAS JOINT VENTURE
(the "Resolution") was duly moved and seconded and, after due discussion, said
motion, carrying with it the adoption of the Resolution, prevailed and carried
by the following votes:
AYES: S NOES: 0
2. A true, full and correct copy of the Resolution is attached to and
follows this Certificate; the Resolution has been duly recorded in the minutes
of the Meeting; the above and foregoing paragraph is a true, full, and correct
excerpt from the minutes of the Meeting pertaining to the adoption of the
Resolution; the persons named in the above and foregoing paragraph are the
duly elected, qualified, and acting members of the Governing Body; each of
such members was duly and sufficiently notified officially and personally, in
advance, of the time, place, and purpose of the Meeting, and that the Resolu-
tion would be introduced and considerad for adoption at the Meeting, and each
of such members consented, in advance, to the holding of the Meeting for such
purpose; and the Meeting was open to the public, and public notice of the
time, place, and purpose of the Meeting was given, all as required by
Article 6252-17, Vernon's Texas Civil Statutes, as amended.
SIGNED AND SEALED this~FF day of
y Secretary
Mayor
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