HomeMy WebLinkAboutResolution - 2421 - Lubbock Industrial Development Corporation Bonds - 09_11_1986RESOLUTION
A RESOLUTION OF THE BOARD OF DIRECTORS OF
LUBBOCK INDUSTRIAL DEVELOPMENT CORPORATION
AUTHORIZING THE ISSUANCE AND SALE
OF FLEXIBLE RATE DEMAND INDUSTRIAL
REVENUE BONDS (McLANE COMPANY, INC. PROJECT)
SERIES 1986, IN THE AGGREGATE PRINCIPAL
A14OUNT OF $5,000,000; AUTHORIZING THE
EXECUTION AND DELIVERY OF A LOAN AGREEMENT,
TRUST INDENTURE, AND OTHER DOCUMENTS REQUIRED
IV CONNECTION THEREWITH; AND AUTHORIZING THE
TAkING OF ALL OTHER ACTIONS NECESSARY FOR THE
CONSUMMATION OF THE TRANSACTIONS
CONTEMPLATED BY THIS RESOLUTION:
WHEREAS, Lubbock Industrial Development Corporation
(the "T-,suer") is authorized by the Development Corporation
Act of V)79, Article 5190.6, Vernon's Texas Civil Statutes,
as amended (the "Act"), to issue revenue bonds for the pur-
pose of providing funds to make secured or unsecured loans
to finance or refinance the acquisition, construction, im-
proven:ent or equipping of a "project", as defined in the
Act,=_ncluding, without limitation, any land, buildings,
equipme;;..t facilities and improvements suitable for distri-
butir_..r_ canters and small warehouse facilities capable of
serving as decentralized storage and distribution centers;
and
'K...HEREAS, any bonds issued to provide funds for the
making of such loan or loans shall be payable solely from
the rF:-:rnt.z=s received by the Issuer from the repayment of
such loans and from other revenues derived from the loan of
such moneys and from the other security pledged therefor and
such bonds shall never be construed to constitute an indebt-
edness of the Issuer, the State of Texas (the "State") or of
the Citr of Lubbock, Texas (the "Unit") or any other politi-
cal sm.I:'.-.-ision of the State within the meaning of any con-
stituLi^ial or statutory provisions whatsoever; and
WHEREAS, McLane Company, Inc., a Texas corporation
(the "Cornpariy") doing business through its wholly -owned
subsidiir--, tic Lane/Foodservice-Lubbock, Inc., a Texas cor-
oorat.i.cn, ad -:ir7ed the Issuer that it is undertaking the
construction and equipping of a regional ware-
houor. mn-? d.i.stxibut:ion center (the "Project") located within
the bot;ndaries of the Unit, and has requested that the Issuer
issue and sell its Flexible Rate Demand Industrial Revenue
C Bonds (tScLane Company, Inc. Project) Series 1986 (the
"Bonds") for the purpose of malting a loan to the Company to
assist in the financing of the cost of acquisition, construc-
tion and eq,.iipping of the Project; and
WHEREAS, the Board of Directors. of the Issuer
hereby finds and determines that the land, buildings, equip-
ment, facilities and improvements comprising the Project are
required and suitable for the promotion of development and
expansion of a distribution center and small warehouse
facilit.i��s capable of serving as decentralized storage and
distrib•.il'-ion centers, and are in furtherance of the public
purpos^,s cf the Act; and
WHEREAS, in order to promote industry, develop
trade, promote job opportunities and enhance the standard of
livina -,!.ithin the Unit and within the State, the Issuer will
issue the Bonds in the aggregate principal amount of
$5,000,C90 pursuant to this resolution (the "Resolution") and
a Trust Indenture, dated as of September 1, 1986 (the "Inden-
ture"), between the Issuer and Morgan Guaranty Trust Company
of Nce,, York, as trustee (the "Trustee"), which Bonds are to
be pay.al..,le solely from the proceeds of the Bonds, the reve-
nues ivvl receipts derived by the Issuer from the loan of the
proceed:-; of the sale of such Bonds to the Company pursuant
to a Loran Agreement, dated as of September 1, 1986 (the
"Loan P.greement"), by and between the Issuer and the Company,
the "Security", as defined in the Indenture, and a Letter of
Cred_t (:;s defined in the Loan Agreement), which revenues
and rec^i.pts will be payable on such dates and in such
amoi.in.t-.e. <is will provide for the payment of the entire prin-
cin-71 )f and interest on and purchase price of the Bonds
issued by the Issuer hereunder; and
WHEREAS, the Loan Agreement and. the Indenture
provide that the proceeds of the sale of the Bonds shall
be used to make a loan to the Company in the amount of
$5,000,000; and
WHEREAS, there have been presented to the Board of
Direct-rs of the Issuer at this meeting: (1) the proposed
form o: the Indenture; (2) the proposed form of the Loan
including the exhibits . thereto; (3) the proposed
(_. form Private Placement Memorandum relating to the Bonds
(the "Placement Memorandum"); (4) the proposed form of
Placem,a-.O_ Agreement, to be dated the date of initial issu-
ance of the Bondi (the "Placement Agreement"), among Morgan
7',.u:;t Company of New York ( the "Placement Agent") ,
P.-publi.•:.f ,n3: Dallas, National Association (as Co -Placement
Agent), Issuer and the Company; (5) the proposed form of
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a Remarketing and Interest Services Agreement, to be dated
the date of initial issuance of the Bonds (the "Remarketing
[` Agreement"), between the Placement Agent and the Company;
and (6) the proposed form of the Letter of Credit.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORIT OF LUBBOCK INDUSTRIAL DEVELOPMENT CORPORATION THAT:
Section 1. For the purpose of providing funds to
be loaned to the Company pursuant to the Loan Agreement,
there is hereby authorized and created pursuant to the Act
an issue of bonds to be designated, "Lubbock. Industrial
Develcpmsnt Corporation Flexible Rate Demand Industrial
Revenue Bonds (McLane Company, Inc. Project) Series 1986."
Section 2. The Issuer hereby finds and determines
that the loaning of the proceeds from the sale of the Bonds
to the Company pursuant to the terms of the Loan Agreement
is in furtherance of the purposes of the Issuer and in the
public interest and that the acquisition, construction and
equipping of the Project and the financing thereof through
the issuance and sale of the Bonds by the Issuer will promote
industry, develop trade, promote job opportunities and
enhance the standard of living within the Unit and within
the Stnto.
Section 3. The Bonds shall be issued as fully
regist -- r(---.d bonds without coupons in an aggregate principal
amount „J $5,000,000. The Bonds initially issued shall be
in th- denoninations, shall be dated, shall bear interest
from svcli. dates, payable on such dates, and shall bear inter-
est at t:he variable rates, all as provided in the form of the
Bond forth. in Exhibit A to the Indenture and shall mature
on Octol:,ea- 1, 2006.
The form, interest rates, terms and provisions of
the Bond; and the provisions for the signatures, authentica-
tion, payment, registration, transfer, exchange, redemption
and numh•>r shall be as set forth in the Indenture and are
hereby approved.
The President or Vice President and the Secretary
or As,si�'_ant Secretary of the Issuer are each hereby autho-
rizecl t:.c - :.crute and attest, as appropriate, the Bonds and
each is h�.reby a.i.tthorized to deliver them to the Registrar
for aut'r-:rntication. The signatures of the President or
Vice Fr_ i.drnt and the Secretary or Assistant Secretary
on !A- 11•: rils may be manual or by facsimile. The seal of the
I>�tr-r to ax1rcar on the Bonds may be either printed thereon
or she 11 1>y facsimile.
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Section 4. The Issuer has this date conducted a
public hearing with respect to the issuance of the Bonds.
The Bonds are hereby authorized to be sold pursuant to the
Placement Mcmorandum and the Placement Agreement, subject
to the approval of the issuance of the Bonds by the City
Counr.i1 of the Unit and by the Texas Economic Development
Commission (the "Commission"), at a purchase price of
and upon the other terms and conditions contained
in the rlacement Memorandum and the Placement Agreement.
Section S. The forms, terms and provisions of the
Bonds, the Indenture, the Loan Agreement, the Promissory Note
(the "Note") which is attached as Exhibit A to the Loan
Agrecme,_L, the Placement Memorandum, the Remarketing Agree-
ment, the Placement Agreement and the Letter of Credit, sub-
stantiaVLy in the forms of such documents (including the
exhibits thereto) presented at this meeting, are hereby
approved, with such insertions, omissions and changes to each
of such documents as shall be approved by the President or
Vice President of the Issuer, the execution of such documents
being conclusive evidence of such approval; and the President
or Vice rresident and the Secretary or Assistant Secretary
are hcr-oby authorized and directed to execute the Indenture,
the Loar T.greement, and any related exhibits attached there-
to, 1-hT. Placement Agreement and any other documents contem-
plated tlh. eby, and to endorse the Note to the Trustee, as
contemn l.ai.e-d by the Indenture.
Section 6. The President or Vice President and
the tart' or Assistant Secretary are hereby authorized
to e.xf-clite and deliver to the Registrar the written order
of tl e Tsni.i-nr for the authentication and delivery of the
Bond's L-:T t.h<s Registrar, in accordance with Section 2.11 of
the Indenture.
Section 7. The officers of the Issuer shall take
all action necessary or reasonably required to carry out,
give effect to and consummate the transactions contemplated
hereby, including, without limitation, the execution and de-
li•.rery t>f an,, closir..g and other documents reasonably required
to be c?clivered in connection with the sale and delivery of
the Ecrils.
Ser,tion S. Nothing contained in this Resolution or
in the T,,. Agreement, the Bonds, the Indenture, the Place-
?1. men.t the Remarketing Agreement, the Placement
Hemornnd+m, or any other instrument, shall be construed as
ob11 t7at.:i i-c! Uh- Issuer, except to the extent provided in such
circUtt ,n'.- or instruments, or as incurring a charge upon the
aen�-ral of. the I.~suer, nor shall the breach of any
agreement contained in this Resolution, the Bonds, the Inden-
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ture, -the Loan Agreement, the Placement Agreement, the Re-
marketing Agreement, the Placement Memorandum, or anyother
instrument or document executed in connection therewith,
impose any charge upon the general credit of the Issuer.
Section 9. The distribution by the Company and
the Placement Agent of the Placement Memorandum to the pros-
pectiv, x:.�1 chasers of the Bonds is hereby ratified, confirmed
and approved. The form, terms and provisions of the Place-
ment Memorandum be, and the same hereby are, approved with
respect to the information contained therein relating to the
Issu:
Section 10. Morgan Guaranty Trust Company of New
`fork, Ite York, New York., is appointed as Trustee, Registrar,
Tender Agent and Paying Agent under the Indenture.
Section 11. The Issuer hereby elects to have the
provisions of Section 103(b)(6)(D) of the Internal Revenue
Code of 1'Sti, as amended, apply to the Bonds. The officers
of the 'szuer are hereby authorized to execute and file with
the Int^rnal Revenue Service such documents, and to take such
other act.ons, as may be required to effect such election.
-Section 12.. After the Bonds are delivered by the
Registrar to the purchasers thereof upon receipt of payment
therefor, this Resolution shall be and remain irrepealable
until t'.ie Bonds and the interest thereon shall have been
fully Paid, cancelled and discharged.
Scction 13. If any section, paragraph, clause or
provision of this Resolution shall, for any reason, be held
to be in-,alid or unenforceable, the invalidity or unenforce-
abilit_Y o[ s.�ch section, paragraph, clause or provision shall
not affect- any of the remaining provisions of this
Resolution.
Section 14. The provisions of all bylaws, orders,
and re sc.]W.=ions of the Issuer, or parts thereof, inconsistent
herewith, are hereby waived to the extent only of such
inconsistency.
c..ction 15. The Secretary or his nominee is hereby
authori^-�c and directed to obtain the approval of the issu-
ancq :, t.lie Bonds by the City Council of the Unit. The offi-
cer-,, rrrloy-es, agents of and legal counsel to the Issuer
are hcrek•y authorizced and directed to execute and file such
aprl.ir_-.f i•...,t,- an-3 other instruments with the Commission as riay
be to obtain the approval of the Commission of the
is�;.tan c and _ale of the Bonds.
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r
Section 16. This Resolution shall be effective
immediately.
ADOPTED this 4th day of September, 1986.
LUBBOCK INDUSTRIAL DEVELOPMENT
CORPORA QN
B}, i
Preside
Attest:
ecrA*ar
08MDT0°38
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Resolution #2421
PREPARED BY FULBRIGI4T t; JAUORSKI.
FOR SEPTEMBER 11, 1936 CITY COUNCIL MEETING
RESOLUTION APPROVING BONDS AND
APPROVING A RESOLUTION BY
LUBBOCK INDUSTRIAL DEVELOPMENT CORPORATION
PROVIDING FOR THE ISSUANCE OF $5,000,000
LUBBOCK INDUSTRIAL DEVELOPMENT CORPORATION
FLEXIELE RATE DEMAND INDUSTRIAL REVENUE BONDS
(McLANE COMPANY, INC. PROJECT)
SERIES 1986
ITIEREAS, Lubbock Industrial Development Corporation (the
"Issuer") was created by the City of Lubbock, 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");
N111EREAS, pursuant to section 103(k) of the Internal
Revenue Code of 1954, as amended (the "Code"), the Issuer has
conducteO a public hearing, following reasonable public notice,
with r.esp,:�ct to the captioned bonds (the "Bonds") and the proj-
ect to h,e .financed with the proceeds thereof and has submitted
to the Unit certified minute entries containing the proceedings
from sc7, hearing which proceedings are attached hereto as
Exhibit A;
SaN';ZtEAS, in order to satisfy the requirements of section
103(k) --lF the Code, it is necessary for the Unit to approve the
Bonds af': r. such public hearing has been held;
WIfr'.REAS, Section 25(f) of the Act requires that the
Goverrtin7 Body of the Unit approve the resolution of the Issuer
providi-ng for the issuance of the Bonds no more than sixty (60)
days prior to the delivery of the Bonds; and
tat1EEEAS, it is deemed necessary and advisable that this
Resolution be adopted;
1101'7, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CIT'Z t}? LUBBOCK, TEXAS, THAT:
S_.7f77TOU 1. The Resolution Authorizing $5,000,000
Lubbock-r-li.istri.al Development Corporation Flexible Rate Demand
Indust-i�il Re•renue Bonds (McLane Company, Inc. Project) Series
198E.; A Loin Agreement; An IndeneUYe of Trust; and Other
Documen!:F Re_,gii.red in Connection Therewith, adopted by the
Issuer c-i `7eptember 4, 1.986 (the "Issuer Resolution"), a copy
of lljc', at'.acho.d hereto as Exhibit B and made a part hereof
for all pIILposeS, is hereby specifically approved.
ITEM ri
SiCTION 2. The Bonds, which are to be issued:
A. In the maximum aggregate face amount of
$_-,000,000, and
B. To finance the acquisition, construction,
iirlprovement, and expansion, as the case may be, of ap-
proximately 32.4 acres of land located at 1601 Fast Loop
21"6191 (East Loop 289 and East 19th Street), a building
including 78,000 square feet of warehouse space and
12,300 square feet of office space to be used as a re-
gional distribution center to store dry grocery and
cooler/freezer items for distribution to restaurants,
schools and other institutional foodservice operations
(the "Project"), which will be initially owned, oper-
a'::ed, and managed by the User doing business through its
u.holly-owned subsidiary, McLane/Foodservice - Lubbock,
Inc.,
are hereby approved pursuant to section 103(k) of the Code.
S—ECTIO-1 3. The approvals herein given are in accor-
dance wi':h the provisions of Section 25(f) of the Act and sec-
tion 103(k) of the Code, and are not to be construed as any
underf_ak:ina by the Unit, and the Bonds shall never constitute
an indebtedness or pledge of the Unit, or the State of Texas
(the "St -ate"), within the meaning of any constitutional or
state_ or,7 provision, and the owners of the Bonds shall never be
paid in .!hole or in part out of any funds raised or to be
raised b-7 taxation or any other revenues of the Issuer, the
Unit, :�r °-lie State, except those revenues assigned and pledged
by the I sijer Resolution.
S FCTLOtT 4. The programs and expenditures authorized
and cont:srinl.ated by the Issuer Resolution are hereby in all
respects approved.
SECTION 5. The Mayor and the City Secretary of the
Unit and '_he other officers of the Unit are hereby authorized,
jointly and severally, to execute and deliver such endorse-
ments, ir-0:rtiments, certificates, documents, or papers neces-
sary anc. alvls7able to carry out the intent and purposes of this
Resolut:.ion.
AMD APPROVED this September 11, 1986
JOAN AKER, MA� PRO TtM
ATTEST:
Ranet Boyd, City Secr ary
I, the undersigned, Secretary of Lubbock Industrial
Development Corporation (the "Issuer"), do hereby certify as
follows:
1. In accordance with the Bylaws of the Issuer the
Board of Directors of the Issuer (the "Board") held a meeting
on September 4, 1986, at the Chamber of Commerce, Lubbock,
Texas (the "Meeting"), of the duly constituted officers and
members of the Board, at which a duly constituted quorum was
p.resont. Whereupon, among other business transacted at the
Meeting, ? public hearing concerning the issuance of these
industrial development- revenue bonds styled as follows:
$5.e00,000 LUBBOCK INDUSTRIAL DEVELOPMENT CORPORATION
FLEXIBLE RATE DE14AND INDUSTRIAL REVENUE BONDS
(MCLANE COMPANY, INC. PROJECT)
SERIES 1986
(the "Eleari.ng") was duly conducted.
2. A true, full, and correct copy of excerpts from
the oflici;)l minutes of the Board pertaining to the Hearing at
the Meeting is attached to and follows this Certificate; such
excerpts have been duly recorded in the Board's minutes of the
Meeting; -3ach of the officers and members of the Board was duly
and notified officially and personally, in ad-
vance, of the time, place, and purpose of the Meeting in accor-
dance with the Bylaws, and that the Hearing would be conducted
at the Ticeting; and the meeting was held and conducted in ac-
cordance with the Articles of. Incorporation and Bylaws of the
Corporation and the requirements of Article 6252-17, Vernon's
Civil Statutes, as amended.
ST°:NED AND SEALED this
(S7AL)
Secretary,
Lubbock Industrial Development
Corporation
A-1
EXCERPT T-' O11 THE MINUTES OF THE MEETING OF $EFTEMBER 4, 1986.
Th. President of the Board of Directors then opened a
public he,ari.ng for the purpose of hearing from interested mem-
bers of Uie public concerning the proposed issuance of those
industrial revenue bonds styled ".Lubbock Industrial Development
Corporation Flexible Rate Demand Industrial Revenue Bonds
(McLane Company, Inc. Project) Series 1986," in the aggregate
principal amount of $5,000,000 (the "Bonds").
The President of the Board of Directors requested all
Persona desired to speak either for or against the issuance
of the Ponds or the project proposed to be financed with the
proccP0!7 of the Bonds to so indicate by raising their hands.
No person present at the meeting so indicated.
TI«s:re being no persons identifying themselves as desir-
ing to =reak, the President of the Board of Directors then
announr_es3 that the hearing was closed.
zz3+e
A-2
Resolution #2421
COMMUNITY DEVELOPMENT FUNDING AGREEMENT
BETWEEN
CITY OF LUBBOCK AND
LUTHERAN SOCIAL SERVICE OF TEXAS, INC.
THE STATE OF TEXAS §
COUNTY OF LUBBOCK §
This Agreement entered into this 11th day of
September
1986, between the City of Lubbock, Texas, a Home Rule Municipal
Corporation, hereinafter called "City" and Lutheran Social Service of
Texas, Inc., a Texas nonprofit corporation, hereinafter called
"LSST."
WITNESSETH:
WHEREAS, the City is obligated to do and perform certain
services in its undertaking of a Community Development Plan pursuant
to the Housing and Development Act of 1974, as amended; and
WHEREAS, LSST is a Texas nonprofit corporation which promotes
state-wide social welfare, including the social welfare of the East
Lubbock Neighborhood which consists of lower and moderate income
residents by developing a program of services to individuals,
families, groups, and the neighborhood to meet the basic needs of
residents of the areas; and
WHEREAS, the services provided by LSST benefit citizens of
Lubbock and constitute a valuable public service; and
WHEREAS, the City Council of the City of Lubbock has declared
the maintenance and operation of the Neighborhood House to be a
public purpose; and
WHEREAS, LSST and the services it provides have been found to
meet the criteria for funding under provision 570-201(e) of the
Community Development Regulations for Public Services; and
WHEREAS, the accomplishment of the public purpose is the
predominant purpose of the transaction; continuing supervision by the
City together with statutory and contractual requirements provide
sufficient assurance that the public purpose will be accomplished;
the City Council has found that LSST has the special expertise,
knowledge and experience necessary for operation of the Neighborhood
House and the provision of the services; and that the City will
receive adequate consideration in the form of substantial public
benefit; and
WHEREAS, the City desires to contract with LSST to provide a
program of services for the benefit of low and moderate income
residents of East Lubbock neighborhoods;
NOW, THEREFORE, the City and LSST do hereby mutually agree as
follows:
1. The City will deed to Texas District of the Lutheran Church
- Missouri Synod, a Texas nonprofit corporation, hereinafter
referred to as "District" within thirty (30) days after
execution of this Funding Agreement the premises including
buildings and improvements located at 2009 E. 13th Street,
Lubbock, Texas, better described as Lot 8, Block 1, W.H.
Massey Addition to the City of Lubbock, Lubbock County,
Texas, having a value of $92,560.00 as determined by an
appraisal.
2. In consideration for the deeding of the above -mentioned
property, LSST agrees to pay the City ONE AND NO/100 DOLLAR
($1.00), and for further consideration agrees to operate and
maintain on such property a Neighborhood House and to provide
through such House a program of services to low and moderate
income individuals, families, and groups, for a period of five
(5) years after delivery of the deed conveying said property to
District, such consideration being equal to the value of the
property deeded.
3. It is expressly understood by LSST that this subject
property is transferred to District as part of the City's
Community Development Block Grant Program, and as such, the
activities undertaken must comply with all of the rules and
regulations established by said program. LSST agrees that
the use of this structure shall be devoted primarily to
assist low and moderate income individuals and that LSST
will not discriminate against any individual, family or
client seeking services because of race, color, religion,
sex or national origin, and that all:applicants for services
2
will receive consideration for services without regard to
race, color, religion, sex, or national origin.
4. LSST agrees to develop and maintain a mechanism to provide
affordable services to low or moderate income persons.
5. LSST will be required to maintain client records
relating to Neighborhood House which indicate the herein
described center principally benefits persons of low and
moderate income.
6. LSST further agrees to maintain books and records of
Neighborhood House operations and make such books and
records available for inspection by any authorized
representative of the City, that City may determine at any
mutually convenient time. LSST also agrees to provide City
with such reports as the City may from time to time
reasonably require as proof of LSST's compliance with any
and all terms and conditions of this Agreement. All reports
or other communications relative to this Agreement shall be
addressed to the Community Development Administrator or to a
delegate expressly named by that person.
7. LSST agrees to occupy and maintain the structures and
grounds in good condition for a period of not less than five
(5) years from the date of the deed transferring such
properties to District.
8. In the event that LSST vacates or abandons the structures or
changes the use of the structures for any reason during the
five (5) year period herein described, District shall pay to
the City the fair market value of the structures and land or
convey such structures and land back to the City. Said
market value to be determined by appraisal done by an
accredited, M.A.I. Real Estate Appraiser.
9. LSST agrees to indemnify and hold City harmless from and
against all liability for injuries or death to persons, or
damage to property caused by LSST's use or occupancy of said
structures, or by the negligence of its agents or employees,
and LSST shall give to City prompt and timely written notice
3
of any claim instituted which in any way, directly or
indirectly, contingently or otherwise, affects or might
affect City and City shall have the right to compromise and
defend same to the extent of its own interests.
10. No officer or employee of the City; no member of its
governing body; and no other public official of the
governing body of the locality in which the project is
situated or being carried out who exercises any functions or
responsibilities in the review or approval of the
undertaking or carrying out of this project shall
participate in any decision relating to this Agreement which
affects his or her personal interest or have any personal or
pecuniary interest, direct or indirect, in this Agreement.
11. No member of or delegate to the Congress of the United
States and no Resident Commissioner shall be admitted to any
share or part of this Agreement or to any benefit to arise
herefrom.
12. For purposes of determining venue and the law governing this
Agreement, activities performed under this Agreement are
performed in the City and County of Lubbock, State of Texas.
13. This Agreement contains the entire agreement of the parties.
14. None of the services covered by this Agreement shall be
subcontracted without the prior written consent of the City.
15. It is contemplated that District may convey the property
herein described to LSST at some time in the future, to
which conveyance City hereby consents, so long as other
terms and conditions hereof are not altered.
IN WITNESS WHEREOF, the City and the LSST have executed this
Agreement as of the first day above written.
CITY OF LUBBOCK
1J • (!� -'o e4�l✓
B. C. McMINN, MAYOR
LUTHERAN SOCIAL SERVICE OF
TEXAS, INC.
By: k��
ROBERT C. GREENE, PRESIDENT
4
ATTEST:
ATTEST:
C� ILI za3j- Ij
- Ranet Boyd�,Cit�ySeret ry Karen L. Ashorn, Administrative Assistant
APPROVED AS TO CONTENT:
Sandy OgYktr , Community
Development Administrator
APPROVED AS TO FORM:
Michdle�Iiart, Assistant City
Attorney
The Texas District of the Lutheran Church - Missouri Synod,
hereby approves the herein contract and agrees to the terms and
provisions herein contained.
LUTHERAN CHURCH-MISSOURI SYNOD
TEXAS DISTRICT
By:
President--
M7