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<br />. <br /> <br />e <br /> <br />11. The Board hereby directs that an officer of the Issuer submit <br />to the Secretary of the Treasury, not later than the 15th day of the <br />second calendar month after the close of the calendar quarter in which <br />the Bonds are issued, a statement containing the information required by <br />Section 103(!) of the Code. <br /> <br />12. Based upon representations made by the Company to the Board, <br />the Board hereby affirmatively finds that: <br /> <br />(a) the Project will have the effect of creating and <br />stabilizing employment within the District and the City; <br /> <br />(b) the Project is required or suitable for the promo- <br />tion of development and expansion of manufacturing and indus- <br />trial facilities and is in furtherance of the public purposes <br />of the Act; and <br /> <br />(c) the Project will contribute to the economic growth <br />or stability of the District and the City by: <br /> <br />(i) increasing or stabilizing employment oppor- <br />tunity; <br /> <br />(ii) significantly increasing or stabilizing the <br />property tax base; and <br /> <br />(iii) promoting commerce within the District, the <br />City and the State of Texas. <br /> <br />13. The Board hereby finds and declares that written notice of the <br />date, hour, place and subject of the meeting at which this resolution <br />was adopted was posted and that such meeting was open to the public as <br />required by law at all times during which this resolution and the <br />subject matter thereof were discussed, considered and formally acted <br />upon, all as required by the Open Meetings Act, Article 6252-17, Texas <br />Revised Civil Statutes Annotated, as amended, and the Act. <br /> <br />14. This resolution shall take effect and be in full force and <br />effect upon and after its passage. <br /> <br />PASSED AND APPROVED this 17th day of July, 1986. <br /> <br />B-7 <br />