R-1984-02 - Laserfiche WebLink

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e e BYLAWS OF CITY OF LA PORTE HEALTH FACILITIES DEVELOP~IENT CORPORATION ARTICLE I NAME AND PURPOSE SECTION 1.1. Name. The name of the corporation is City of La Porte Heal th Facilities Development Corporation (the "Issuer"). SECTION 1.2. Purpose. The purpose of the Issuer is to acquire, construct, provide, improve, finance and refinance any real, personal, or mixed property, or any interest therein, the financing, refinancing, acquir- ing, providing, constructing, enlarging, remodeling, renovating, improving, furnishing or equipping of which is found by the board of directors of the Issuer to be required, necessary or convenient for health care, research and education, anyone or more, within the State of Texas, all to assist the maintenance of the public health. The Issuer shall be operated exclusively for such purpose without profit. No part of the net earnings of the Issuer shall inure to the benefit of any private shareholder or individual; no substantial part of its activities shall be carrying on propaganda, or other- wise attempting to influence legislation; and iL shall not participate in, or intervene in (including the publication or distribution of statements), any political campaign on behalf of or in opposition to any candidate for public office. ARTICLE II BOARD OF DIRECTORS SECTION 2.1. Number, Appointment and Tenure. The affair's of the Issuer shall be managed by a board of directors which shall consist of five natural persons. Each director shall be appointed by the City Council of the City of La Porte, Texas, and shall hold office for a term of no more than six years which shall be fixed by the City Council of the City of La Porte, Texas. Each" director appointed to fill a vacancy created by the resignation or removal of a director prior to the expiration of his term shall serve for the balance of the unexpired term. Each director shall be removable by the City Council of the City of La Porte, Texas, for cause or at will. Each director shall hold office for the term for which appointed and until a successor shall have been appointed and qualified unless sooner removed.