R-1985-21 - Laserfiche WebLink

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e e EXHIBIT "B" RESOLUTION OF BRAZOS HARBOR INDUSTRIAL DEVELOPMENT CORPORATION WITH RESPECT TO A PUBLIC HEARING AND AUTHORIZING ISSUANCE OF BONDS AND APPROVING DOCUMENTS WHEREAS, the Development Corporation Act of 1979, Article 5190.6, Texas Revised Civil Statutes Annotated, as amended (the "Act"), author- izes and empowers the Brazos Harbor Industrial Development Corporation (the "Issuer") to issue revenue bonds on behalf of Brazos River Harbor Navigation District of Brazoria County, Texas (the "District"), and on behalf of other districts, cities and counties who may request the Issuer to issue revenue bonds on their behalf, to finance the cost of projects comprising land, buildings, equipment, facilities and improve- ments, found by the Board of Directors of the Issuer (the "Board") to be required or suitable for the promotion of development and expansion of manufacturing and industrial facilities and in furtherance of the public purposes of the Act; and WHEREAS, on December 13, 1984, the Board of Navigation and Canal Commissioners of the Brazos River Harbor Navigation District of Brazoria County, Texas adopted a Resolution Agreeing to Issue Bonds, whereby the District agreed to provide for the financing of the cost of facilities constituting a portion of a project (the "Freeport Facilities") for the Company, which Freeport Facilities were initially described in Exhibit "A" to said Resolution Agreeing to Issue Bonds; and WHEREAS, the La Porte Facilities (as defined herein) and the Freeport Facilities together constitute one project (the "Project"), which Project is more fully described in Exhibit A to the Loan Agreement between the Issuer and the Company referenced below, in accordance with the provisions of the Act; and WHEREAS, for purposes of financing the cost of the Project, the Issuer now desires (i) to authorize the issuance of its Pollution Control Revenue Bonds, Series 1985 (The Dow Chemical Company Project) (the "Bonds"), in the maximum aggregate principal amount of $ , pursuant to the terms and provisions of a trust indenture, (ii) to provide for the sale of the Bonds to the underwriter described herein, pursuant to the terms of an underwriting agreement, (iii) to ratify and affirm the distribution of a preliminary official statement and to approve the distribution of an official statement; (iv) to provide for the payment of the principal of and premium, if any, and interest on the Bonds with revenues derived from the loan of B-1