HomeMy WebLinkAboutResolution 1981-010
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RESOLUTION APPROVING AN AGREEMENT BY NORTH RICHLAND HILLS
INDUSTRIAL DEVELOPMENT CORPORATION TO ISSUE BONDS FOR SEALY
MATTRESS COMPANY OF FORT WORTH, THE BOND RESOLUTION PROVIDING
FOR THE ISSUANCE OF SUCH· BONDS, AND A GUARANTEE AGREEMENT
WITH OHIO-SEALY MATTRESS MANUFACTURING CO.
WHEREAS, North Richland Hills Industrial Development
Corporation was created under the auspices of the City of
North Richland Hills, Texas; and
WHEREAS, it is deemed necessary and advisable that this
Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF NORTH RICHLAND HILLS, TEXAS THAT:
Section 1. The "Loan Agreement between North Richland
Hills Industrial Development Corporation and Sealy Mattress
Company of Fort Worth," in substantially the form and substance
as attached to this Resolution and made a part hereof for
all purposes, is hereby approved, and Bonds in the principal
amount of $4,200,000 may be issued pursuant thereto for the
purpose of paying the cost of acquiring and constructing or
causing to be acquired and constructed the Project as defined
and described therein.
Section 2. The "Resolution Authorizing the I ssuance of
North Richland Hills Industrial Development Corporation
Revenue Bonds, Series 1981, and the Execution of a Trust
Indenture (Sealy Mattress Company of Fort Worth Project),"
in substantially the form and substance attached to this
Resolution and made a part hereof for all purposes, is
hereby specifically approved, aná the Bonds may be issued as
provided for therein.
Section 3. The "Guarantee Agreement between North
Richland Hills Industrial Development Corporation and Ohio-
Sealy Mattress Manufacturing Co.," in substantially the form
and substance as attached to this Resolution and made a part
hereof for all purposes, is hereby approved.
CERTIFICATE FOR RESOLUTION
THE STATE OF TEXAS
COUNTY OF TARRANT
CITY OF NORTH RICHLAND HILLS
We, the undersigned officers of the City Council of
said Ci ty, hereby certify as follows:
1. The City Council of said City convened in REGULAR
MEETING ON THE 11TH DAY OF MAY, 1981, at the City Hall, and
the roll was called of the duly constituted officers and
members of said Ci ty Counci 1, to-wit:
Dick Faram, Mayor
Wiley G. Thomas, Jr.
Resert. r. D1:Ady
h.9r/"\l' ~efl!"eeè.9J?
Dave Freeman
J. C. HIALI..r~
Jeanette Moore, City Secretary
Jim Kenna
Sharyl Groves
JeB.R W. P1iehae:.!", Jr.
:TINt It..". ny
.3'"/.... W.I:I~
and all of said persons were present, except the following
absentees: ¡::"'f..~WI.. 11
thus constituting a quorum. Whereupon, among other business,
the following was transacted at said Meeting: a wri tten
RESOLUTION APPROVING AN AGREEMENT BY THE NORTH
RICHLAND HILLS INDUSTRIAL DEVELOPMENT CORPORATION
TO ISSUE BONDS FOR SEALY MATTRESS COMPANY OF FORT
WORTH, THE BOND RESOLUTION PROVIDING FOR THE IS-
SUANCE OF SUCH BONDS, AND A GUARANTEE AGREEMENT
WITH OHIO-SEALY MATTRESS MANUFACTURING CO.
-
was duly introduced for the consideration of the City Council
and read in full. It was then duly moved and seconded that
said Resolution be adopted; and, after due discussion, said
motion, carrying with it the adoption of said Resolution,
prevai led and carried by the following vote:
AYES: All members of said Ci ty Council
shown present above voted "Aye."
NOES: None.
2. That a true, full and correct copy of the aforesaid
Resolution adopted at the Meeting described in the above and
foregoing paragraph is attached to and follows this Certifi-
cate; that said Resolution has been duly recorded in said
Ci ty Council's minutes of said Meeting; that the above and
foregoing paragraph is a true, full and correct excerpt from
said City Council's minutes of said Meeting pertaining to
the adoption of said Resolution; that the persons named in
the above and foregoing paragraph are the duly chosen,
qualified and acting officers and members of said City
Council as indicated therein; that each of the officers and
members of said City Council was duly and sufficiently
notified officially and personally, in advance, of the time,
place and purpose of the aforesaid Meeting, and that said
Resolution would, be introduced and considered for adoption
at said Meeting, and each of said officers and members
consented, in advance, to the holding of said Meeting for
such purpose; that said Meeting was open to the public, and
public notice of the time, place and purpose of said Meeting
was given, all as required by Vernon's Ann. Civ. St. Article
6252-17.
SIGNED AND SEALED the M day of MAY'
{
, 1981.
City Secretary
Mayor
(SEAL)