HomeMy WebLinkAboutCDCRes2012.06.01V/
ANNA COMMUNITY DEVELOPMENT CORPORATION
RESOLUTION NO.�?&&Q - z b - QO C. bc-
A RESOLUTION OF THE ANNA COMMUNITY DEVELOPMENT CORPORATION
APPROVING AND AUTHORIZING THE PROPOSED PLAN FOR FINANCING OF
PUBLIC PARK IMPROVEMENTS PROJECT
WHEREAS, the Board of Directors of the Anna Community Development Corporation
(the "CDC"), created by the City of Anna, Texas (the "City"), in accordance with Article
5190.6, V.A.T.C.S., Section 413, and now operating under Texas Local Government
Code, Chapter 505 (the "Act") has found that it is in the best interests of the Corporation
to authorize their financial advisor to seek funding for the project of funds of up to
$1,600,000; and
WHEREAS, the CDC's funding of the Public Park Improvements Project is subject to
the approval of the Project by the City Council of the City of Anna ("City Council") and
also subject to a project agreement being reached between the CDC and the City; and
WHEREAS, the CDC Board of Directors has investigated and determined that providing
the funding for the Project, and associated financing, subject to the aforementioned
conditions, is in the CDC's best interest and will enhance the recreational and
community facilities of the City and will be for the benefit of the community; and
WHEREAS, it is hereby officially found and determined that the meeting at which this
Resolution was passed, was open to the public and public notice of the time, place, and
purpose of said meeting was given, all as required by Chapter 551, Texas Government
Code;
NOW THEREFORE, BE IT RESOLVED BY THE ANNA COMMUNITY
DEVELOPMENT CORPORATION, THAT:
Section 1. Recitals Incorporated
The recitals set forth above are incorporated herein for all purposes as if set forth in full.
Section 2. Authority to Execute Proposed Plan of Finance
The CDC approves and authorizes the proposed plan for financing of public park
improvements and authorizes the CDC financial advisor and Chief Administrative
Officer to pursue and obtain financing. The funding of this project by the CDC will be
subject to City Council approval and subject to the Project agreement between the CDC
and the City to be executed after City Council consideration and approval of the Project.
CDC OF ANNA TEXAS RESOLUTION NO. a a lA - Ob C 1 C.-DC.... PAGE 1 OF 2
PASSED AND APPROVED by the Anna Community Development Corporation this 11tn
day of June, 2012.
APPROVED:
'•.�'. •Focht,r� • -
ATTEST:
1
Sherilyn G frey, CDC Se&karyy
CDC OF ANNA, TEXAS RESOLUTION NOA01 9�()&"C C CZC!..* PAGE 2 OF 2
ANNA COMMUNITY DEVELOPMENT CORPORATION
NOTICE OF PUBLIC HEARING
NOTICE IS HEREBY GIVEN that the Anna Community Development
Corporation (the "Corporation"), a non-profit corporation operating under Texas Local
Government Code, Chapter 505 (the "Act"), will hold a public hearing at 5:00 P.M. on
June 11, 2012, at 111 N. Powell Parkway, Anna, Texas, on projects to provide (i) public
park and open space improvements including recreational facilities, parking facilities
and related infrastructure, and (ii) maintenance and operating costs of such projects,
and other purposes permitted by law (the "Projects"), in order to provide improvements
for public park and open space purposes and in order to promote and encourage
employment and public welfare and to promote and develop new and expanded
business enterprises as authorized by, the Act. The Projects are expected to be
financed from the proceeds of sales tax revenue obligations to be issued by the
Corporation, and paid from sales tax revenues and other resources of the Corporation.
The Projects shall include the equipment, facilities, and improvements (one or more)
found by the Corporation's Board of Directors to be required or suitable for the
promotion and development of the Projects. The costs of the Projects are estimated not
to exceed $1,600,000. All interested persons are invited to attend the public hearing
and speak for or against the proposed Projects.
NOTICE OF PROJECTS AND NOTICE OF PUBLIC HEARING
EXHIBIT A