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Res 96-23 Ratifying and Confirming the Appointment of the Directors of and All Actions Taken by the Lone Star Public Facilities CorporationTOWN OF WESTLAKE RESOLUTION 96-23 A RESOLUTION RATIFYING AND CONFIRMING THE APPOINTMENT OF THE DIRECTORS OF AND ALL ACTIONS TAKEN BY THE LONE STAR PUBLIC FACILITIES CORPORATION, AUTHORIZING THE ACQUISITION AND LEASING OF PUBLIC FACILITIES BY THE LONE S'T'AR PUBLIC FACILITIES CORPORATION, AND RESOLVING RELATED MATTERS. WHEREAS, the Board of Aldermen ("Board") of the Town of Westlake, Texas has created the Lone Star Public Facilities Corporation ("Corporation") pursuant to Article 717s, Vernon's Texas Civil Statutes; WHEREAS, at a meeting of the Board of Directors of the Corporation ("Board of Directors") held on December 19, 1996, the Board of Directors has taken action to adopt the articles of incorporation and bylaws, elect officers, establish a principal office, approve a seal, engage general counsel, finance counsel, and a financial adviser, and acquire certain "public facilities" from the following owners, including, Jack Paul (or any entity affiliated with or controlled by him), Dick Watson or Larry Wornat (or any entity affiliated with or controlled by either or both of them), and J. Q. Vanderburg (or any entity affiliated with or controlled by him) in each instance pursuant to an installment sale agreement (collectively, all of such actions shall be referred to as "Initial Corporate Actions"); WHEREAS, the directors of the Corporation, as authorized by the Board of Aldermen at the time of the authorization of the creation of the Corporation, included Alvin Oien, Carroll Huntress, Jerry Moore, Howard Dudley, Fred Held, Annette Bush, and Dwayne Mahan (collectively, the "Appointed Directors"); WHEREAS, the meeting at which this Resolution has been considered was open to the public as required by law, and public notice of the time, place, and subject of the meeting has been given in accordance with Chapter 551, Government Code; NOW, THEREFORE, BE IT RESOLVED by the Board of Aldermen of the Town of Westlake, Texas that: SECTION 1: The findings and declarations contained in the preamble of this Resolution are hereby incorporated as part of this Resolution. SECTION 2: This Board hereby ratifies and confirms all Initial Corporate Actions and hereby approves the acquisition of the "public facilities" by the Corporation pursuant to installment sale agreements in accordance with actions taken by the Board of Directors and the leasing of such "public facilities" to the State of Texas or any agency or Resolution 9623 Page 2 political subdivision thereof, or any instrumentality of the State of Texas or any political subdivision thereof as may be approved from time to time by the Board of Directors. SECTION 3: This Board hereby ratifies and confirms that the Appointed Directors are all duly appointed by the Board and authorized to serve as directors of the Corporation. SECTION 4: This Resolution shall take effect immediately upon its adoption. PASSED AND APPROVED by the Board of Aldermen of the Town of Westlake, Texas, this 27" day of December, 1996. Scott Bradley, Mayor ATTEST: Inger Oosswy, Town Secr APPROVED AS TO FORM: �a�ulC.Isham, Tow�Attom�ey