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<br />~ t 79 <br /> <br /> <br />RESOLUTION NO. 1995- 64 R <br /> <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS, APPROVING THE RESOLUTION ADOPTED <br />BY CITY OF SAN MARCOS INDUSTRIAL DEVELOPMENT <br />CORPORATION PROVIDING FOR THE ISSUANCE OF "CITY OF <br />SAN MARCOS INDUSTRIAL DEVELOPMENT CORPORArION <br />ADJUSTABLE RATE DEMAND INDUSTRIAL DEVELOPMENT <br />REVENUE BONDS, SERIES 1995 (BUTLER MANUFACTURING <br />I COMPANY PROJECT)" <br />i <br />RECITALS: <br /> <br />1. The City of San Marcos Industrial Development Corporation (the "Corporation") <br />was created by the City of San Marcos, Texas (the "Unit") pursuant to the <br />provisions of the Development Corporation Act of 1979, Article 5190.6, Vernon's <br />Texas Civil Statutes, as amended (the "Act"); <br /> <br />2. Pursuant to section 147(f) of the Internal Revenue Code of 1986, as amended <br />(the "Code"), the Corporation has conducted a public hearing following <br />reasonable public notice with respect to the captioned bonds (the "Bonds") and <br />the captioned project and has submitted to the Unit certified summaries <br />containing the proceedings from such hearing which proceedings are attached <br />hereto as Exhibit A; <br /> <br />3. In order to satisfy the requirements of section 147(f) of the Code, it is necessary <br />for the Unit to approve the Bonds after the public hearing has been held; <br /> <br />4. Section 25(f) of the Act requires that the governing body of the Unit approve the <br />resolutions of the Corporation providing for the issuance of the Bonds no more <br />than 60 days prior to the delivery of the Bonds; <br /> <br />5. The Corporation submits to the Unit the resolution providing for the issuance <br />of the Bonds for its approval pursuant to 147(f) of the Code and the Act; and <br /> <br />6. The Corporation submits to the Unit the recommendation that the Annual <br />Continuing Fees relating to the issuance of the Bonds as set forth in the Local <br />Regulations for Receiving and Approving Applications for Financial Participation <br />in Development Projects be waived; <br /> <br />7. It is deemed necessary and advisable that this Resolution be adopted; <br /> <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />SAN MARCOS, TEXAS: <br /> <br /> <br />PART 1: The Resolution Authorizing City of San Marcos Industrial <br /> <br /> <br /> <br />1411581AO -1- <br />