HomeMy WebLinkAboutR22-552R22-552
RESOLUTION BY THE CITY COUNCIL OF THE CITY OF PLAINVIEW,
TEXAS APPROVING THE ISSUANCE OF CERTAIN TAX EXEMPT
REVENUE IMPROVEMENT AND REVENUE REFUNDING BONDS FOR
THE BENEFIT OF WAYLAND BAPTIST UNIVERSITY
WHEREAS, the City of Hale Center, Texas has caused to be created the Hale
Center Education Facilities Corporation (the "Issuer"); and
WHEREAS, the Issuer intends to issue its Hale Center Education Facilities
Corporation Revenue Improvement and Revenue Refunding Bonds (Wayland Baptist
University Project) Series 2022 in a maximum principal amount not to exceed
$36,497,605 (the "Bonds"); and
WHEREAS, the Bonds are to be issued to finance or refinance multiple projects
including the following items and purposes, all to be located on various campuses of
Wayland Baptist University (the "University") as follows:
New Facilities:
Construction and installation of wireless internet equipment, building repairs or
improvements, HVAC installation and repairs, and parking lot paving on the University's
campus located at 1900 West 7th Street, Plainview, Texas 79072 in a maximum cost of
$4,181,625.
Deferred Maintenance:
Maintenance and repairs to facilities located on the University campus located at 1900
West 7th Street, Plainview, Texas 79072, with the maximum stated principal amount of
Bonds to be issued to finance such maintenance and repairs being $5,000,000.
Refinanced Facilities:
The following facilities are to be refinanced with the proceeds of the Bonds:
Plainview, Texas:
(i) refinance acquisition of one city block of land and the construction,
acquisition, and improvement of a 350-bed, 90,000 square foot men's dormitory located
generally at 1800 West 8th Street, Plainview, Texas 79072, with the maximum stated
principal amount of the Bonds to be issued to refinance this Project being $15,937,500
(ii) refinance a 50,000 square foot student activity center, including recreational
facilities, classrooms, and administrative offices located generally at 2204 West 7th Street,
Plainview, Texas 79072, and with the maximum stated principal amount of the Bonds to
be issued to refinance this Project being $3,069,105.
(iii) refinance the cost of construction, repair, renovation, and improvement of a
60,829 square foot building housing food service facilities and administrative offices
R22-552 6Q86593-WAYLAND - Resolution of Plainview
PASSED AND APPROVED THIS 81h day of February, 2022.
Charles (Starnos, Mayor
ATTEST:
1q1L L
Belinda Hinojosa,
Resolution R22-551 Page 2 of 2
CERTIFICATE OF THE MAYOR OF THE CITY OF PLAINVIEW, TEXAS
APPROVING THE ISSUANCE OF CERTAIN TAX EXEMPT REVENUE
REFUNDING BONDS FOR THE BENEFIT OF WAYLAND BAPTIST UNIVERSITY
1. The City of Hale Center, Texas has caused to be created the Hale Center
Education Facilities Corporation (the "Issuer").
2. The Issuer intends to issue its Hale Center Education Facilities Corporation
Revenue Improvement and Revenue Refunding Bonds (Wayland Baptist University
Project) Series 2022 in a maximum principal amount not to exceed $36,497,605 (the
"Bonds").
3. The Bonds are to be issued to finance or refinance multiple projects
including the following items:
New Facilities:
Construction and installation of wireless internet equipment, building repairs or
improvements, HVAC installation and repairs, and parking lot paving on the University's
Texas campuses located at 1900 West 7th Street, Plainview, Texas 79072, with the
estimated maximum principal amount of Bonds to be issued being $4,181,625.
Deferred Maintenance:
Maintenance and repairs to facilities located on the campus of Wayland Baptist
University, 1900 West 7th Street, Plainview, Texas 79072. The maximum stated principal
amount of Bonds to be issued to finance such maintenance and repairs is $5,000,000.
Refinanced Facilities:
(i) refinance acquisition of one city block of land and the construction,
acquisition, and improvement of a 350-bed, 90,000 square foot men's dormitory located
generally at 1800 West 81h Street, Plainview, Texas 79072. The maximum stated principal
amount of the Bonds to be issued to refinance this Project is $15,937,500;
(ii) refinance a 50,000 square foot student activity center, including recreational
facilities, classrooms, and administrative offices located generally at 2204 West 7th Street,
Plainview, Texas 79072. The maximum stated principal amount of the Bonds to be issued
to refinance this Project is $3,069,105;
(iii) refinance the cost of construction, repair, renovation, and improvement of a
60,829 square foot building housing food service facilities and administrative offices
located at 700 Smythe Street, Plainview, Texas 79072. The maximum stated principal
amount of the Bonds to be issued to refinance this Project is $2,330,000;
(with such items being referred to herein as the "Project")
4. In order to issue the Bonds and finance the Project on a tax exempt basis,
the issuance of the Bonds and the Project financed by the Bonds and located within the
City of Plainview, Texas (the "City") must be approved by the applicable elected
6QH9896-WAYLAND 2022 - Certificate of Mayor of Plainview
CERTIFICATE OF MAYOR OF PLAINVIEW
representative of the City as required by Section 147(f) of the Internal Revenue Code, as
amended.
5. The "applicable elected representative" includes either the Mayor if elected
at large, or the City Council.
6. 1 am the duly elected Mayor of the City of Plainview, Texas (the "City"),
being duly elected at large. As the duly elected applicable elected representative of the
City, I hereby approve the Bonds and the Project for the benefit of Wayland Baptist
University.
This approval is given solely for the purposes of satisfying the requirements of
Section 147(f) of the Internal Revenue Code.
It is officially understood that the City shall have no liability whatsoever in
regard to the payment of the Bonds or in regard to the Project.
My approval is limited solely to the limited purposes set forth above and does not
constitute any further approval for any other purpose.
Signed this day of (vtAA , 2022.
13
r, pity of Plainview, Texas
6QH9896-WAYLAND 2022 - Certificate of Mayor of Plainview
2 CERTIFICATE OF MAYOR OF PLAINVIEW