Agenda - City of Dallas

COUNCIL CHAMBER
February 22, 2012
Section 4. That the Corporation is authorized to finance the projects described in the
preambles hereof through the issuance of one or more series or issues of revenue
bonds, notes or other obligations that are payable solely from revenues to be received
by or on behalf of the Corporation pursuant to agreements between the Corporation and
educational institutions or amounts to be received from persons acting on behalf of such
educational entities, with the City having no obligation to pay the Corporation or any
other person, including, specifically, the holders of such obligations, any amounts with
respect to such obligations. Such obligations shall never constitute a debt or pledge of
the faith and credit of the taxing power of the City.
Section 5. That it is intended that the Corporation be a duly constituted authority and
instrumentality of the City, with the power to act on its behalf and to accomplish the
public purposes of the State within the meaning of regulations and revenue rulings of
the Treasury Department of the Internal Revenue Service of the United States
promulgated under Sections 103 and 115 of the Internal Revenue Code of 1986, as
amended (the "Code").
Section 6. That this City Council hereby approves the initial Bylaws for the Corporation
in substantially the form and substance attached hereto as Exhibit "B".
Section 7. That this resolution shall take effect immediately from and after its adoption.
Section 8. That it is the intention of the City Council that this resolution and every
provision or portion hereof be considered severable, and that no portion or provision
hereof shall become inoperative or fail by any reason of unconstitutionality or invalidity
of any such portion or provision. If an provision, section, subsection, sentence, clause,
or phrase of this resolution, or the application of same to any person or set of
circumstances for any reason whatsoever is held to be unconstitutional, void, or invalid
or for any reason unenforceable, then the validity of the remaining portions of this
resolution or the application thereof shall remain in full force and effect.
Section 9. That all resolutions or ordinances, or parts thereof respectively, in conflict
herewith are hereby repealed only to the extent that same are inconsistent or in conflict
herewith.
Section 10. That the City Secretary of the City of Dallas is hereby authorized and
directed to publish the caption of this resolution in the manner and for the length of time
prescribed by law.
Section 11. That upon the publication of notice and the holding of a public hearing, the
mayor of the City of Dallas is authorized to execute and deliver a certificate approving
the bonds to be issued for the benefit of Uplift Education, a Texas non-profit corporation
and the facilities to be financed with proceeds of such bonds for the purpose of
satisfying the requirements of Section 147(f) of the Code.