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<br />.e <br /> <br />e <br /> <br />2. The Governing Body hereby requests the Brazos Harbor Indus- <br />trial Development Corporation to exercise its powers under the Act and <br />to issue bonds to finance the construction of the La Porte Facilities. <br /> <br />3. The Governing Body hereby specifically approves the Bonds, as <br />required by Section 103(k) of the Code and the Project, all as described <br />in the Notice attached hereto as Exhibit C, and the Governing Body finds <br />and determines that the Project is in furtherance of the public purposes <br />of the Act. <br /> <br />4. The Resolution of the Issuer providing for the sale and issu- <br />ance of the Bonds, substantially in the form attached hereto as <br />Exhibit "B," is hereby approved. <br /> <br />5. There is hereby assigned and transferred to the Issuer the <br />City's proportionate amount of the ceiling for private activity bonds in <br />the amount of $15,000,000, which is allocated to the City for the Bonds <br />pursuant to H.B. 690, it being the intention of the City that the amount <br />of the ceiling transferred by the City to the Issuer together with the <br />amount transferred by the District shall aggregate $50,000,000. <br /> <br />PASSED AND APPROVED this <br /> <br />day of November, 1985. <br /> <br />CITY OF LA PORTE <br /> <br />By <br /> <br />Norman Malone, Mayor <br /> <br />ATTEST: <br /> <br />By <br /> <br />City Secretary <br /> <br />APPROVED: <br /> <br />By <br /> <br />City Attorney <br /> <br />-3- <br />