04-23-92-6.5 - Resolution - 04/23/1992 ' ..'~.. ....... ~--KE~-O-£~'rf~~.~'::~:~"~ ~--~,. ~ ~.~.~.:.'/.
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~';:'.,.,. ' A ~SOLU~ON OF THE CI~ CO. Cig OF THE CITY OF COLLEGEi[,.i
,~ STATION, TE~ ~~G TO THE ~PROV~ OF ~E ISSU~CE OF~:~
~,~: CERT~ S~E~ ~ ~VE~E BO~S OF ~E G~ATER E~T:.~::
.~.~i TE~ HIGHER EDUCATION A~O~TY, ~C. ~ A~O~Z~G
~YOR OF ~E C~Y OF CO~EGE STATION, TE~ TO ~ CERT~~L,
:7'"._~: CERTIHCASONS ~ ~E~ION THE~TH; ~ PROVID~G
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· ~z~ ~E~, the City of ~eg~ S~on, Te~ (~Cit~) h~ heretofore requested tha~
~. -~ ~eater E~t Te~ mgher Edition Authority, Inc. ("Authofi,") or~ze ~d
".,>~' :'=:~ pm~t to Se~ion 53.47(e) of the Te~ ~u~tion ~e, V.T.C.~ ("Education ~de )(~
,,:}':'~ for the p~ose of ~hefing edu~aon~ oppo~u~fies for student, and ~?:'
: ~E~, the Authofi~ h~ pmued s~h p~se by pro~ng ~ to ~w
....cern e~ble 1o~ w~ch ~e ~teed or ~smed under the pro,iota of the ~e~
_ Eduction A~ of 1~5, ~ mended ('A~D; and
. .z-.. ~E~, the ~d of ~o~ ('Bo~dD of the Autho~, at i~ ~m~! mee~g;~%
"..:.::_'~ ~'i... found ~d dete~ed ~at it woffid be in ~e best interest of the Au~ofity and ~e smden~5
.?..;'-~ or p~en~ of smden~ se~ced by the Au~ofi~ that ~fio~ ~n~ be prodded for ~'.
~:. o~oing p~ses of ~e.Auth°n~; ~d ~"~} ~ 2 ~.~
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'D~ rote not m emeed the mm rate pe~tted by law, ~d in s~h series ~ the Bo~d o~:.~
~, ~e~m may dete~ne; ~d ,~>.
.; . ~E~, thc ~u~don Mc rcq~ ~c govc~ng My of thc City to approv
...... ~( the ~ce of the Bon~, ~d
[';.J. -': ~E~, Scion 147(0 of~c ln~ ~vcnuc ~c of 1986. ~ ~cndcd ("~dc''~'
'~'~2 rcq~cs the approv~ of ~e ~~ of ~e Bon~ by thc CiWs ~cf clc~cd execuav~-~
'.'"~: o~r suMcqucnt to a pubic being held m ~r~cc ~th thc pro.ions of thc ~dc[~."
(??~ now, therefore '.--< >.~
/..:c~: BE IT ~SOLVED BY ~E CI~ CO~CIL OF ~E CITY OF COLLEGE STA~O .
~.. -- TE~: v_ .
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I'?~-'-, ~ ~ of th~ r~i~ ~n~ned in thg promblg hor¢of ~g found to b¢ ~¢ ~d
~ adopted ~ thc fin*n~ of ~ Ci~ ~unc~.
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, or ro, ou.t or.ro,o
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..... -~_3'hat after the Authority conducts a public hearing, following proper ~nottce thc~?i.--~;' ' .,
'\~,L:: 're~rding thc issuance of thc Bonds and the plan of financing pertaining thereto anc[am~.
~:~ Au~thority's student loan program, the _1~ yo.r, or the Mayor .Pro .T. en¥.if t..he Mayor is i'~:,~.
· ~,"~- unavailable, may approve the issuance of the Bonds heretotOre describeo lot me purposes,
~.~...t, ,~:~? in the maxi~un~ amount and at a rate, all as set forth in the preambles hereof. ;; -.~"~' .... ~."~
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:.--~-2' taxation of interest on the Bonds. .~., ·
¢.i -,' - In no event does the City assme any responsibility in connection with administration --'~. --.
"?.~-~.: of the Authority's student loan program, the issuance and delivery of the Bonds or the ,:
.:';.....~: payment of any of the Bonds issued by the Authority. ' '
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t....,.~ The Authority shall hold harmless and indemni~ the City for any negligent or l~[,_'::'
\t',"':' ':.: unintentional acts of the Authority, its agents, employees, or assigns in the fulfillment of the ~
purposes as herein expressed and/or thc bonds herein proposed·
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:~.. This resolution shall be effective from and after its adopt]on.
";?"--'"'-':;7,,,,.-:wi~ PRESENTED, PASSED AND ADOPTED on this 23r.dday of April ,1992
vote of 7 a es and na at a regular meeting ~-~ t~ City Council of the Cit~.''T.',':'
· of College Station, Texas. '-~,'.
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,,:/;;z~ ATTEST' APPROVED AS TO FORM:
/'~, _ ,~/ lytton. I, ~u~ P'~'- ~ ~ "-
~"' 2~.(~jt Secretary '- City Attorney ~i~.~, -"'
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, i~{',~.~..~ ~' ~ ~-~ ~ ,~.'. ~.',~ '~ ~ ~[ ',~ ~,~t.:~t..~'~ ,'
' j. CERTIFICATE OF APPROVAL OF MAYOR
~'; " The undersized is the d~y elo~ed~yor of tho City of ~llogo Station, To~ (tho '. .,
~- -~-~ "City") and ~ such is th~ app~able elected representative of the City pursuant to' .
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"~' '~ 147(~(2)(B) of tho Intem~ Revenue ~do of 1986, ~ mended. On Ap~ 27, 19~, ~";'""
~ , .'Z" follo~ng pub~eafion of re.enable nofi~o thoroof in a no,paper of goner~ ~ff~ation in ~ ~ ',
the City, a public hearing w~ ~ndu~ted regarding the i~u~o of Greater E~t To~ ,;~'
L~-~ ~gher Edumtion Authority, Inc. Student ~an Revenue Bon~, (eo~eefively, tho "Bon~")
in one or moro series ~d in tho a~ogato mount not to ox~od $115,~0,~, tho plan of Z'
financing ~th respect thereto and tho ut~tion of the pr~eo~ of tho Bon~ by tho :~. ,',
. Greater E~t Te~ ~ghor Ed~on Authority, In~. for tho p~oso ofpureh~ing student
' 1o~ notes w~ch ~e g~anteod ~der the ~gher Eduction Act of 1965, ~ mended, and
tho osmb~shing of ~o~n ~n~ for tho pa~ont and see~ of the bon~ eea~n o~onsos --
~ in ~nneetion thero~th, ~ pro~ded and ~ted by tho Internal Revenue ~do of 1986, ~ ~'
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' mended, and the Te~ Bdumfion ~de, ~ amended. A ~py of the repo~ of such ~-
, -- he~ng is attached hereto ~ ~bit A. ~
' ~ the appfi~ble elected representative of the City, I hereby specificay approve the ~-- v
':. 7"~ iss~nce of the Bon~ and the pl~ of financing ~th respect thereto. ,~-::,.,
~:7:~' SIGNED ~ SE~ED t~~ day of ~p~ 1992. ~'
. ~, CRy of ~~t~aon, T~ '"
,, ~ (SE~) ',..- .
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~ .. A~E~T:
Oty Secret~
Oty of ~ege Station,