Res 1986-116 - Laserfiche WebLink

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6 RESOLUTION 1986-ll6R Å RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, APPROVING THE ARTICLES OF INCORPORATION OF S.E.M. CORPORATION, BYLAWS OF S.E.M. CORPORATION, MINUTES OF THE FIRST MEETING OF THE BOARD OF TRUSTEES OF S.E.M. CORPORATION, THE PROMISSORY NOTE OF ELIH WATER COMPANY, INC., THE DEED OF TRUST OF ELIM WATER COMPANY, THE REORGANIZATION AGREEMENT BETWEEN THE NON-PROFIT CORPORATION AND ELIM WATER COMPANY, INC.; APPROVING THE CONTRACT OF SALE BETWEEN S. E .M. CORPORATI ON AND THE CITY OF SAN MARCOS AND AUTHORIZING THE CITY MANAGER TO EXECUTE THE CONTRACT ¡APPRO\) ING THE CONTRACT FOR TRANSFER OF CERTAIN WATER SYSTEM FACILITIES BETWEEN ELIM WATER COMPANY, INC. AND THE CITY OF SAN MARCOS AND AUTHORIZING THE CITY MANAGER TO EXECUTE THAT CONTRACT; APPOINTING FOUR TRUSTEES TO THE S.E.M. CORPORATION BOARD OF TRUSTEES; APPOINTING A TRUSTEE FOR THE DEED OF TRUST OF ELIM WATER COMPANY, INC., AND DECLARING AN EFFECTIVE DATE. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: SECTION 1. That the Articles of Incorporation of S.E.M. Corporation in Exhibit "AD attached hereto and incorporated herein for all purposes are approved. SECTION 2. That the Bylaws of S.E.M. Corporation in Exhibit "B" attached hereto and incorporated herein for all purposes are approved. SECTION 3. That the Minutes of the First Meeting of the Board of Trustees of S.E.M. Corporation in Exhibit RCO attached hereto and incorporated herein for all purposes are approved. SECTION 4. That the Promissory Note of EJim Water Company, Inc. in Exhibit "D" attached hereto and incorporated herein for all purposes is approved. SECTION 5. That the Deed of Trust of Elim Water Company, Inc. in Exhibit HE" attached hereto and incorporated herein for all purposes is approved. SECTION 6. That the Reorganization Agreement between S.E.M. Corporation and Elim Water Company, Inc. in Exhibit "F" attached hereto and incorporated herein for all purposes is approved. SECTION 7. That the Contract for Sale and Purchase of Certain Water Facilities between El im Water Company, Inc. and the City of San Marcos in Exhibit °G" attached hereto and incorporated herein for all purposes is approved and the City Manager is authorized to execute it. SECTION 8. That the Contract for Transfer of Certain Water System Facilities between EJim Water Company, Inc. and the City of San Marcos in Exhibit "H" attached hereto and incorporated herein for all purposes is approved and the City Manager is authorized to execute it. SECTION 9. That the Mayor, Mayor Pro Tern and City Manager are appointed to the S.E.M. Corporation Board of Trustees. SECTION 10. That the Finance Director is appointed Trustee the Deed of Trust in Exhibit -F". for SECTION 11. That this Resolution effect from and after its passage. shall be in full force and day r\ ~ePtember "'-__~'\i';~',~,,- . ( :t . 'Younger tot yor ¥ltte t: . /)tÇ1¡/' / d/1b~(Jt. (./ #1')yJ.-{/~.-/ Ja tis K. WomacK City Secretary ADOPTED this 24 , 19 86 .