HomeMy WebLinkAboutResolution No. 95-30 ORIGINAl.
CITY OF THE COLONY, TEXAS
RESOLUTION NO. ~-'~---O~)
RESOLUTION AUTHORIZING THE COLONY MUNICIPAL
ECONOMIC DEVELOPMENT CORPORATION, FINANCIAL
ADVISOR, BOND COUNSEL AND PROFESSIONAL STAFF TO
TAKE ACTION WITH RESPECT TO THE PREPARATION AND
ISSUANCE OF GOLF COURSE REVENUE BONDS
WHEREAS, by a resolution adopted on October 17, 1994, the City Council (the
"City Council") of the City of The Colony (the "City") authorized the creation of The
Colony Municipal Economic Development Corporation (the "Corporation");
WHEREAS, the City Council and the Corporation have had under consideration
the financing of the construction of a golf course project on Wynnewood Peninsula (the
"Project");
WHEREAS, the City Council has determined to authorize the Corporation to take
action relating to the preparation and issuance by the Corporation of golf course revenue
bonds (the "Bonds") to finance the costs of the Project;
WHEREAS, the furtherance of such determination, the City Council desires that
the Corporation and the financial advisor, bond counsel and appropriate staff of the City
take such action;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF THE COLONY:
Section 1. The Corporation, the City's financial advisor and bond counsel, and
appropriate professional staff of the City are hereby authorized and directed to prepare
such documentation and to take such action as is necessary to prepare and provide for
the sale and issuance of the Bonds; provided, that such Bonds shall not be a debt or
other obligation, contingent or otherwise, of the City.
Section 2. This Resolution shall be effective immediately upon its adoption.
William W. Manning, Mayor <.~
Patti A. Hicks, TRMC, City Secretary