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<br />e <br /> <br />. <br /> <br />WHEREAS. with respect to Bonds issued by the Issuer used for a <br />project within the jurisdiction of the City such AER is the Governing <br />Body of the City; and <br /> <br />WHEREAS, notice of a public hearing with respect to the Project and <br />the Bonds to be held by the Governing Body of the City on the date of <br />this resolution was published no less than 14 days before this date; and <br /> <br />WHEREAS, the Governing Body has held such public hearing on the <br />date and at the time and place set out in such published notice, and has <br />conducted such hearing in a manner that provides a reasonable opportu- <br />nity for persons with differing views on the issuance of the Bonds and <br />on the location and nature of the Project to be heard; <br /> <br />WHEREAS, the private activity bond limit for the State of Texas has <br />been allocated for 1985, in the manner authorized by Section 103(n) of <br />the Code, as provided in House Bill 690. Acts of the 69th Legislature, <br />Regular Session, 1985 ("H.B. 690"); and <br /> <br />WHEREAS, H.B. 690 requires the Issuer to file a notification of its <br />present intent to deliver an issue of such "private activity bonds" (the <br />"Allocation Request") with the Texas Economic Development Counnission. <br />setting forth the maximum face amount of the Bonds, the purpose of the <br />Bonds and the Section of the Code applicable to the Bonds in order to <br />reserve a portion of the 1985 allocation of the state ceiling for the <br />Bonds (the "Allocation"); and <br /> <br />WHEREAS, the Allocation Request with respect to the Bonds will be <br />filed on November , 1985 (the "Reservation Date"); and <br /> <br />WHEREAS, the Allocation is made to the Brazos River Harbor Naviga- <br />tion District (the "District") and the City, but the District and the <br />City will assign the Allocation to the Issuer; and <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF <br />LA PORTE, THAT: <br /> <br />1. The Governing Body hereby finds, determines, recites and <br />declares that a public hearing with respect to the Bonds and the Project <br />was held on this date; that notice of such public hearing was published <br />no less than 14 days before this date in a newspaper of general circu- <br />lation within the City; that such notice included the date, time and <br />place of the public hearing, the location and general nature of the <br />Project and the expected aggregate principal amount of the Bonds; and <br />that all comments from interested persons were taken at such public <br />hearing. <br /> <br />-2- <br />