HomeMy WebLinkAboutORD 84-37 - Creation of Non-ProfitORDINANCE NO.
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN,
TEXAS, ORDERING THE CREATION OF A NON-PROFIT CORPORATION UNDER
SECTION 53 35(b), TEXAS EDUCATION CODE, AS AMENDED, DESIGNATING
THE INCORPORATORS THEREOF, APPROVING ARTICLES OF INCORPORATION
AND APPOINTING THE INITIAL DIRECTORS THERETO, APPROVING THE
BYLAWS OF THE CORPORATION, CONTAINING OTHER PROVISIONS AND MAKING
CERTAIN FINDINGS RELATING THERETO.
WHEREAS, Section 53.35(b) of the Texas Education Code, as amended
(the "Act"), authorizes cities to order the creation of corporations
to provide financing in aid of institutions of higher education, and
WHEREAS, one or more institutions of higher education (the
"Universities"), as defined in Section 53 02 of the Act are located
within the City of Georgetown, Texas (the "City"), and
WHEREAS, the Universities represent and are a vital part of the
City and are in substantial need of additional facilities, properties
and funds in order properly to carry on, develop and expand their
educational activities within the City, and
WHEREAS, Section 53 35(b) of the Act specifically authorizes the
governing body of the City to order the creation and organization of
a nonprofit corporation under the Act to act on behalf of the City as
its duly constituted authority and instrumentality for the purpose
of aiding institutions of higher education in providing educational
facilities and housing facilities and facilities incidental, subordi-
nate or related thereto or appropriate in connection therewith, and
WHEREAS, the Act authorizes the nonprofit corporation thus
created to issue revenue bonds for said purposes on behalf of the
City, provides that the directors of the corporation shall be
appointed and be subject to removal by this Council, and further
provides that a private person may not share in any of the
corporation's earnings, and
WHEREAS, this Council by this Ordinance intends to take all steps
necessary to order the creation of a nonprofit corporation pursuant to
and under the Act, subject to the provisions of the Act and this
Ordinance, and
WHEREAS, this meeting is open to the public as required by law,
and public notice of the time, place and purpose of this meeting was
given as required by Article 6252-17, Vernon's Texas Civil Statutes,
as amended,
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NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS
Section 1. That the findings and declarations contained in the
preambles of this Ordinance are incorporated herein as part of this
Ordinance.
Section 2 That this Council hereby finds and determines that
it is to the best interest of the City and its inhabitants that a
nonprofit corporation, to be named the "City of Georgetown Higher
Education Finance Corporation" (the "Corporation"), be ordered created
under the Act to act on behalf of the City as its duly constituted
authority and instrumentality for the public purposes defined and with
the powers conferred in the Act.
Section 3 That this Council hereby orders that the Corpora-
tion be created under the Act with articles of incorporation (the
"Articles") in substantially the form attached hereto, and the Council
hereby designates and appoints the following persons to act on its
behalf as the incorporators thereof, to -wit.
J. C. Sloan
Charles A Forbes
Thomas -R Locke ,
and this Council directs and authorizes said incorporators to file the
Articles with the Secretary of State.
Section 4. That this Council hereby appoints Patrick Caballero
as registered agent for the Corporation and appoints the following
persons as the initial members of the board of directors of the
Corporation, to -wit
J. C. Sloan
Charles A. Forbes
Thomas R, Locke
Nancy Raper
Andrew Vaughn
Jo Ella Simon
James Wilson ,
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said persons to serve for the terms specified in the Bylaws, subject
to removal by this Council for cause or at will as provided in the Act
and in the Bylaws
Section S. That, as provided in the Act, the Corporation shall
be a nonprofit corporation, and no part of its net earnings remaining
after payment of its expenses, bonds or other obligations shall ever
inure to the benefit of any individual, firm or corporation, except
that upon dissolution, in the event sufficient provision has been made
for the full payment of the expenses, bonds and other obligations of
the Corporation, then any net assets of the Corporation remaining or
thereafter accruing shall be paid to the City.
Section 6 That the City expressly reserves the right, exercis-
able at any time and in its sole discretion, to alter the structure,
organization, programs or activities of the Corporation or to terminate
and dissolve the Corporation, subject only to any limitations provided
by the respective constitutions and laws of the State of Texas or of
the United States prohibiting the impairment of contracts entered into
by the Corporation.
Section 7. That the Corporation shall have no purposes and shall
engage in no business or enterprise except in furtherance of the
purposes provided in and authorized by the Act as it may be amended
from time to time Whenever the board of directors shall determine
that the purposes for which the Corporation was formed have been
substantially accomplished and that all bonds and other obligations
theretofore issued or incurred by the Corporation have been fully paid
or payment provided for, the members of the board of directors shall,
upon receipt of the approval of this Council, thereupon dissolve the
Corporation in the manner provided by law, subject to the limitations
provided in Section 6 hereof applicable to dissolution directed by the
Council.
Section 8 That whenever dissolution of the Corporation shall
occur, whether instituted by this Council or by the board of directors
of the Corporation, the dissolution proceedings shall transfer the
title to all funds and properties then owned by the Corporation to the
City after satisfaction of all claims against the Corporation has been
made
Section 9 That any and all bonds, notes or other similar
obligations issued by the Corporation shall contain a provision,
substantially to the effect that they shall never be deemed to be or
create an indebtedness or liability or a special, general or moral
obligation payable out of any funds or properties of the City and that
they shall be payable solely out of funds and properties of the
Corporation pledged thereto
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Section 10 That is is intended that the Corporation be a duly
constituted authority and instrumentality acting on behalf of the City
within the meaning of regulations of the Treasury Department and the
revenue rulings of the Internal Revenue Service of the United States
promulgated under Section 103 and 115 of the Internal Revenue Code of
1954, as amended
Section 11 That the Bylaws of the Corporation, in the form and
substance attached hereto, are approved, and the same shall not be
amended, altered or repealed without the approval of this Council
Section 12 That this Ordinance shall take effect immediately
from and after its adoption
PASSED AND APPROVED this 29TH day of June , 1984
READ, PASSED AND APPROVE on second reading this 10th day of July, 1984.
ATTEST.
City Secretary,
City of Georgetown, Texas
(SEAL)
APPROVED AS TO FORM•
JOE B. MCMASTER, CITY ATTORNEY
Mayor, City of Georgetown, Texas
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CITY SECRETARY'S CERTIFICATE
THE UNDERSIGNED, City Secretary of the City of Georgetown,
Texas, hereby certifies that pursuant to the specific provisions of
Section 53 35(b), Texas Education Code, as amended, the referenced
Corporation was ordered created by the City Council, the governing
body, of said City on the date stated in Article XI of the above and
foregoing Articles of Incorporation pursuant to the ordinance therein
described, that said Articles of Incorporation are those which were
approved by said ordinance, and that a true and correct copy of said
ordinance is on file among the permanent records of said City Council
and City
TO CERTIFY WHICH, witness my hand and the seal of said City this
day of , 1984
City Secretary, City of Georgetown, Texas
(SEAL)
went is made diter the tenth of the month (or twentieth if
billed on second cycle) 10% will be added to the next bill.
Second notices will be sent to all accounts not paid by the
tenth of the month (or the twentieth if billed on second cycle).
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H. FAILURE TO PAY CHARGES
If a third notice is required, utility service will be discontinued.
- Account balance plus a $10.00 service charge and the required
connect fee must be paid before service will be restored.
The customer will be required to pay the service charge whether
utilities have been discontinued or not.
I. REREAD CHARGES, CONNECT CHARGES
AND RETURN CHECK CHARGES
The City will reread any customer's water and/or electric
meter at the customer's request. If the reread meter was cor-
rectly read and there was no error on the part of the City,
the customer shall be charged $10.00. If the reread meter
was read incorrectly, there shall be no charge to the customer.
There shall be a $15 00 charge for connecting water or electric
services. The connect charge will apply to new customers, customers
moving from one location to another and for reconnecting services
discontinued for failure to pay charges. There shall be a $10.00
charge for all returned checks.
SECTION II. That there shall be a $100.00 Utility Deposit
required on each dwelling unit. There shall be no deposit
required on any dwelling unit occupied by its owner.
All commercial establishments shall be required to post a
Utility Deposit equal to at least twice the average monthly
bill of that establishment of a similar establishment of its
kind. Teh mimimum commercial deposit shall be $100.00.
Section III. That all ordinances, resolutions, and orders
heretorefore passed, adopted and made, or any part of the same,
affecting rates, charges and policies for sales made or services
rendered by the Electric, Water, Waste -Water, or Garbage Systems
of the City of Georgetown, which are in conflict with this
Ordinance, shall be and the same are hereby in all things
repaealed, provided that those provisions of the Garbage and Trash
Ordinance passed on the 10th day of March, 1975, as amended on the
8th day of March, 1976, which are not in conflict herewith are not
repealed.
SECTION IV. The effective date of this Ordinance shall be
July 159 1984. _
READ PASSED AND APPROVED by the City Council on first reading
this_J_Q_day of July , 1984 and on second and final reading
this_25day of July , 1984.
Carl Doering, Mayor
ATTEST.
Pat Caballero, City Secretary
APPROVED TO FORM:
4JoeMster, City Attorney
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