N0. 14998 RESOLUTION APPROVING PROJECT WITH RESPECT TO
KERB COUNTY INDUSTRIAL DEVELOPMENT CORPORATION
INDUSTRIAL DEVELOPMENT REVENUE BONDS
(H. E. BUTT GROCERY COMPANY PROJECT) SERIES 1983
AND APPROVING AGREEMENT BY KERR COUNTY
INDUSTRIAL DEVELOPMENT CORPORATION TO ISSUE
SUCH BONDS FOR H. E. BUTT GROCERY COMPANY
WHEREAS, the Kerr County Industrial Development Corporation (the "Issuer") was
created by Kerr County, Texas (the "Unit") pursuant to the provisions of the Development
Corporation Act of 1979, Article 5190.6, Vernon's Texas Civil Statutes, as amended (the "Act");
and
W~$$EAS, pursuant to the Act, the Issuer, on behalf of the Unit, is empowered to
issue bonds for the purpose of defraying the cost of any "project" defined as such by the
Act;
WHEREAS, the Act defines "project" to include land, buildings, equipment, facilities
and improvements that are (i) located in a federally designated economically depressed county
of less than 50,000 persons according to the last federal decennial census, and (ii) found
by the board of directors of the Issuer to be required or suitable for the promotion of
commercial development and expansion and in furtherance of the public purposes of the Act,
or for use by commercial enterprises;
WHEREAS, the Unit has been designated as a economically distressed county by the
Economic Development Administration, a federal agency; and the Unit has less than 50,000
persons according to the last decennial census;
WHEREAS, H. E. Butt Grocery Company, H. E. Butt Store Property Company No. One,
H. E. Butt Store Property Company No. Two, and/or H. E. Butt Store Property No. Three (the
"user") has requested the Issuer to finance the cost of a project (the "Project") consisting
of certain land, buildings, equipment, facilities, and improvements within the boundaries
of the Unit;
WHEREAS, there has been presented to the Commissioner's Court (the "Governing Body")
of the Unit a description of the Project, a copy of which is attached hereto as Exhibit A;
WHEREAS, the board of directors (the "Board") of the Issuer has, by a Resolution
Concerning Issuance of Bonds to Finance a Project for H. E. Butt Grocery Company adopted
January 14, 1983 (the "Issuer Resolution"), agreed and declared its intent to issue its
limited obligation revenue bonds pursuant to the Act and such other statutes as may provide
authority therefor, to finance the costs of the project and in the amount set forth in the
Resolution for the benefit of the User;
WHEREAS, the Unit finds and declares that the action of the Board approving the
Issuer Resolution should be approved and is in the best interests of the inhabitants of the
Unit for the reasons therein set forth; and
WHEREAS, it is deemed necessary and advisable that this Resolution be adopted.
THEREFORE, BE IT RESOLVED BY THE COMMISSIONER'S COURT OF KERR COUNTY, TEXAS THAT:
Section 1. Based upon the representations made to the Governing Body by the User,
it appears and the Governing Body hereby finds that:
A. The Project will contribute significantly to the fulfillment of the redevelopment
objectives of the Unit; and
B. The Project is in furtherance of the public purposes of the Act.
Therefore, pursuant to Rule 103.04.01.002 (b) (10) (A) (4) (B) of the Commission, the
_ Governing Body approves the Project in substantially the form set forth in the description
_..
of the Project attached hereto as Exhibit A. ~,.
i
Section 2. The approval of the Project herein given is in accordance with the ~,
provisions of the Act and the rules of the Commission and is not to be construed as any
undertaking by the Unit, and such bonds shall never constitute an indebtedness or pledge i.
of the Unit, or the State of Texas, within the meaning of any constitutional or statutory '
provision, and the holder of such bonds shall never be paid in whole or in part out of any
funds raised or to be raised by taxation or any other revenues of the Issuer, the Unit, or
the State of Texas except those revenues assigned and pledged by the Resolution.
Section 3. The Issuer Resolution, as adopted by the Board, agreeing and declaring
an intent to issue limited obligations revenue bonds for the purposes and in the amount
set forth in the Resolution is hereby approved.
Section 4. The County Judge, County Commissioners, and the County Clerk of the
Unit and the other officers of the Unit are hereby authorized, jointly and severally to
execute and deliver such endorsements, instruments, certificates, documents, or papers
necessary and advisable to carry out the intent and purposes of this Pesolution.
PASSED, ADOPTED AND APPROVED this the 11th day of April, 1983.
/s/ Gordon S. Morriss
County Judge
ATTEST:
/s/ Patricia Dye
County Clerk
(SEAL)
EXHIBIT A
DESCRIPTION OF THE PROJECT
The Project will consist of a retail grocery store to be located at the Southeast
corner of the intersection of Main and Rodriguez Streets in Kerrville, Texas. The Project
will include one single-story 46,400 square foot supermarket building and certain depreciable
equipment to be used in the operation of the Project.
Filed the 19th day of April A.D. 1983
PATRICIA DYE
Clerk County Court, Kerr County, Texas
By /s/ Dorothy L. Pfeiffer, Deputy
o-o-o-o-o-o-o-o-o-o
-2-
-3-
A-1
J