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<br />. <br /> <br />. <br /> <br /> <br />RESOLUTION NO. 98-16 <br /> <br />RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE AUTHORIZING <br />THE.MAYOR TO SIGN DEEDS TO PROPERTY FOR FULL TAX PAYMENT <br /> <br />. . . .. <br /> <br />WHEREAS, In the course of its fUnction as a taxing entity in the State of Texas , it is necessary that the <br />City of La Porte (the "City" place real property within the City up for public auction after entry of <br />judgement offOreclosure of the tax liens on the property; and <br /> <br />WHEREAS, such property is on occasion conveyed to the City, as Trustee for the use and benefit of <br />itself and the other taxing units that tax the property; and <br /> <br />WHEREAS, the property may then be sold for at least the market value specified in the judgment of <br />foreclosure' or the total amount of the judgments against the property, whichever is less; as provided by <br />Section 34.05(h) of the Texas Property Tax Code; and <br /> <br />WHEREAS, It is necessary to accept payment for the property, to disburse payments from sale <br />proceeds to the other taxing units that established tax liens in the tax foreclosure judgment, and to execute <br />legal documents transferring the property to the purchaser. <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF TIlE CITY OF LA PORTE, <br /> <br />Section 1 That the City of La Porte, as a Trustee does hereby authorize its Tax Assessor-Collector to accept <br />payment of property acquired under tax foreclosure judgment, to pay the costs of suit and sale, and to <br />disburse payments from the sale proceeds to other taxing units that established liens in the tax foreclosure <br />judgmenL and does fUrther authorize its Mayor to execute legal documents transferring the property to the <br />purchaser, when the purchase price is at least the market value specified in the judgment offoreclosure or <br />the total amount of the judgments against the property, whichever is less. <br /> <br />Section 2 That actions previously taken by the City of La Porte consistent with the foregoing are wholly <br />approved and ratified for the purposes expressed herein. <br /> <br />Section 3 That the City Council officially finds, determines, recites and declares that a sufficient written <br />notice of the date, hour, place and subject of this meeting of the City Council was posted at a place <br />convenient to the public at the offices of City of La Porte for the time required by law preceding this <br />meeting, as required by the Open Meetings Law, Chapter 55 I, Texas Government Code; and that this <br />meeting has been open to the public as required by law at all times during which this resolution and the <br />subject matter thereof has been discussed, considered and formally acted upon. The City Council fUrther <br />ratifies, approves and confirms such written notice and the contents and posting thereof <br /> <br />