HomeMy WebLinkAboutRes 2022-06-1197 Approving Anna PFC Issuance of A Bondaoaa • o(o .0 l l 9 r7
A RESOLUTION BY THE CITY OF ANNA, TEXAS APPROVING AN INDENTURE
AND RESOLUTION OF ANNA PUBLIC FACILITY CORPORATION
WITH RESPECT TO THE ISSUANCE OF A BOND
WHEREAS, Anna Public Facility Corporation (the "Issuer") was created under the auspices of
the City of Anna, Texas, or (the "Unit"); and
WHEREAS, the Issuer is authorized by the Public Facility Corporation Act, as amended (the
"Act"), to issue its revenue bonds on behalf of the Unit for the purpose of financing all or part of the costs
of a project, and to loan the proceeds thereof to finance all or part of the costs thereof, and
WHEREAS, the Issuer, by resolution (the "Bond Resolution") adopted June 14, 2022, has
authorized the issuance and sale of its Multifamily Housing Revenue Bonds (Palladium East Foster
Crossing) Series 2022 (the "Bond") in the aggregate principal amount not to exceed $33,000,000 and by
the Bond Resolution has also authorized an Indenture by and between Wilmington Trust, National
Association (the "Trustee") and the Issuer dated June 1, 2022 wherein the Issuer agrees to issue and sell
the Bond to provide funds to refinance a the project located within the Unit, (the "Indenture"); and
WHEREAS, the Act requires that the governing body of the Unit approve, by written resolution,
any agreement to issue bonds approved by the Issuer; and
WHEREAS, the Board of Commissioners of the Unit has reviewed the proceedings relative to
the issuance of the Bond and, by adoption of this Resolution, intends to approve the Bond Resolution, the
issuance of the Bond, the plan of refinancing approved by the Bond Resolution and to make the findings
required by the Act to approve the Project;
WHEREAS, it is deemed necessary and advisable that this Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ANNA,
TEXAS THAT:
Section 1. The Bond Resolution adopted by the Issuer authorizing the execution of the Indenture
and authorizing the sale of the Bond, in substantially the form and substance attached to this Resolution
and made a part hereof for all purposes, is hereby specifically approved, and the Bond may be issued as
provided for therein.
Section 2. The Indenture, in substantially the form and substance as attached to the Bond
Resolution and made a part hereof and thereof for all purposes, is hereby approved, and the Bond in the
principal amount not to exceed $33,000,000, may be issued pursuant thereto for the purpose of financing
the cost of acquiring, constructing or equipping or causing to be acquired, constructed or equipped the
Project as defined and described therein, which Project was and is in compliance with the Act.
PASSED by the City Council of the City of Anna, Texas, on this 14th day of June 2022.
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Carrie L. Land, City Secretary _ 1< _ ill Mayor Pro Tem
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