HomeMy WebLinkAboutCity Council Resolutions (R-96-1235)-08/20/1996
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RESOLUTION R-96-1235
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I A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A
I CONTINUING DISCLOSURE AGREEMENT
WHEREAS, the City of Colleyville, Texas (the "Disclosure Party") and the Trinity
River Authority of Texas (the "Issuer") have heretofore entered into,
and may in the future enter into contracts relating to the provision of
facilities and/or services by the Issuer for the benefit of the
Disclosure Party; and
WHEREAS,
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WHEREAS,
WHEREAS,
in connection with the financing of the facilities and/or services
provided by the Issuer for the benefit of the Disclosure Party, the
Issuer party has, and/or will from time to time authorize, issue, and
deliver bonds (the "Bonds") of the Issuer supported by payments to
be made by the Disclosure Party pursuant to such contracts; and
the United States Securities and Exchange Comm ission has adopted
Rule 15c2-12, as amended from time to time (the "Rule"); and
the Rule provides that a broker, dealer or municipal securities dealer
of Bonds issued after the effective dates set forth in the Rule, may
not purchase or sell Bonds in connection with an offering thereof,
"obligated persons", or entities acting on behalf of "obligated
persons" have undertaken to provide certain updated financial
information and operating data annually, and timely notice of
specified material events, to certain information vendors; and
in order to comply with the Rule and facilitate the future issuance of
Bonds, the Disclosure Party and the Issuer have agreed that it is
deemed appropriate and necessary to enter into the Continuing
Disclosure Agreement (the "Agreement") hereinafter authorized to be
That the Mayor or City Manager of the Disclosure Party is hereby
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authorized and directed to execute and deliver, and the City
Secretary of the Disclosure Party is authorized and directed to attest,
the Agreement substantially in the form and substance attached
hereto.
That the Agreem ent shall become effective and enforceable in
accordance with its terms immediately upon execution and delivery
thereof for all intents and purposes.
That each of the officers and members of the City Council was duly
and sufficiently notified officially and personally, in advance, of the
time, place, and purpose of the meeting at which this Resolution was
introduced, and that said Resolution would be introd uced 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 the Texas Government Code, Chapter 551.
AND IT IS SO RESOLVED.
Passedpy a vote of....2:..ayes and~nays and Labstentions on this the 20+J.
day ofjlt"ju.sf ,1996.
ATTEST:
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CITY OF COLLEYVI LLE
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Ed Baker
Mayor
Je Harris, CMC
City Secretary