R-1985-21 - Laserfiche WebLink

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e e providing for the issuance of the Bonds and specifically approving the Bonds and the Project as required by Section 103(k) of the Code; and WHEREAS, Section 103(n) of the Code requires that certain "private activity bonds" (as defined in such Section) must come within the issuing authority's private activity bond limit for the applicable calendar year in order to be treated as a tax-exempt obligation; and WHEREAS, the private activity bond limit for the State of Texas has been allocated for 1985, in the manner authorized by Section 103(n), as provided in House Bill 690, Acts of the 69th Legislature, Regular Session, 1985 ("H.B. 690"); and WHEREAS, H.B. 690 requires the Issuer to file a notification of its present intent to deliver an issue of such "private activity bonds" (the "Allocation Request") with the Texas Economic Development Commission (the "Commission"), setting forth the maximum face amount of the Bonds, the purpose of the Bonds and the Section of the Code applicable to the Bonds in order to reserve a portion of the 1985 allocation of the state ceiling for the Bonds (the "Allocation"); and WHEREAS, the Allocation Request with respect to the Bonds was filed on November _, 1985 (the "Reservation Date"); and WHEREAS, the Allocation is made to the District and the City, but the District and the City have or will assign the Allocation to the Issuer; and WHEREAS, the Board has been presented with and has examined pro- posed forms of a trust indenture, a loan agreement and an underwriting agreement, and the Board finds that the form and substance of such documents are satisfactory and the recitals and findings contained therein are true, correct and complete and hereby adopts and incorpo- rates by reference such recitals and findings as if set forth in full in this resolution, and finds that it is in the best interest of the public and the Issuer and assists in carrying out the public purpose of the Issuer and of the Act to authorize the execution and delivery of such documents; and WHEREAS, the Board understands that Goldman, Sachs & Co., as underwriter (the "Underwriter") has previously distributed a preliminary official statement and intends to distribute an official statement in connection with the offering and sale of the Bonds; and WHEREAS, in connection with the preparation of such preliminary official statement and such official statement, the Issuer has furnished the information to the Underwriter concerning itself under the caption B-3