HomeMy WebLinkAboutRes 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
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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:
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