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<br /> l18 <br /> RESOLUTION 19 83- ~8R <br /> RESOLUTION OF THE CITY COUNCIL APPROVING <br /> THE EXECUTION AND DELIVERY OF A <br /> FIRST AMENDMENT TO LOAN AGREEMENT <br /> BY THE CITY OF SAN MARCOS INDUSTRIAL DEVELOPMENT CORPORATION <br /> WITH RESPECT TO BONDS ISSUED TO FINANCE A PROJECT FOR <br /> STEWART & STEVENSON SERVICES, INC. <br /> WHEREAS, by resolution the City Council (the "Governing Body") of <br /> the City of San Marcos, Texas (the "Unit"), authorized and approved the <br /> creation of the City of San Narcos Industrial Development Corporation <br /> (the "Corporation") as a nonprofit industrial development corporation <br /> under the provisions of the Development Corporation Act of 1979, Article <br /> 5190.6, Vernon's Annotated Texas Civil Statutes, as amended (the "Act"); <br /> and <br /> WHEREAS, the Board of Directors of the Corporation adopted a reso- <br /> lution on April 22, 1980, pursuant to which the Corporation issued and <br /> sold its Industrial Development Revenue Bonds, Series 1980 (Stewart & <br /> Stevenson Services, Inc., Project) (the "Bonds"), pursuant to the terms <br /> and provisions of a Trust Indenture, dated as of April 1, 1980, between <br /> the Corporation and Texas Commerce Bank National Association, as <br /> Trustee, which resolution was approved by resolution of the Governing <br /> Body adopted on April 21, 1980; and <br /> WHEREAS, at the request of Stewart & Stevenson Services, Inc. (the <br /> "User"), the Corporation now desires to authorize the execution and <br /> delivery of a first amendment to loan agreement, dated as of April 1, <br /> 1983 (the "First Amendment to Agreement"), between the Corporation and <br /> the User, which would amend and modify certain financial covenants made <br /> by the User in the Loan Agreement, dated as of April 1, 1980 (the <br /> "Original Agreement"), by and between the User and the Corporation, by <br /> adopting a resolution substantially in the form attached hereto as <br /> Exhibit "A" (the "Resolution"); <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br /> SAN NARCOS, TEXAS, THAT: <br /> The Resolution of the Corporation providing for the execution and <br /> delivery of the First Amendment to Agreement, substantially in the form <br /> attached hereto as Exhibit "A", is hereby approved. <br /> PASSED AND APPROVED this 23rd day of May, 1983. <br /> ----------------------------------------------------------------------- <br />