Bylaws of the La Porte Redevelopment Authority

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e e (c) in the development and implementation of a redevelopment policy for the La Porte area, including the acquisition of land for redevelopment purposes. The Authority is formed pursuant to the provisions of the Act as it now or may hereafter be amended, and Chapter 394, Texas Local Government Code, which authorizes the Authority to assist and act on behalf of the City and to engage in activities in the furtherance of the purposes for its creation, provided that the Authority shall not be authorized to make or acquire home mortgages, or to make loans to lending institutioris, the proceeds of which are to be used to make home mortgages or to make loans on residential developments. The Authority shall have and exercise all of the rights, powers, privileges, authority, and functions given by the general laws of Texas to non-profit corporations incorporated under the Act including, without limitation, Article 1396, Vernon's Texas Civil Statutes. The Authority shall have all other powers of a like or different nature not prohibited by law which are available to non-profit corporations in Texas and which are necessaty or useful to enable the Authority to perform the purposes for which it is created, including the power to issue bonds, notes or other obligations, and otherwise exercise its borrowing power to accomplish the purposes for which it was created, provided that the Authority shall "not issue bonds without the consent of the City Council of the City. The Authority is created as a local government corporation pursuant to the Act and shall be a governmental unit within the meaning of Subdivision (2), Section 101.001, Texas Civil Practice and Remedies Code. The operations of the Authority are governmental and not proprietary functions for purposes of the Texas Tort Claims Act, Section 101.001 et seq., Texas Civil Practice and Remedies Code. The Authority shall have the power to acquire land in accordance with the Act as amended from time to time. ARTICLE V The Authority shall have no members and shall have no stock. ARTICLE VI All powers of the Authority shall be vested in a Board composed of the same persons as those appointed to the Board of Directors of the La Porte Reinvestment Zone. An appointment of a director to the La Porte Reinvestment Zone shall constitute an appointment to serve as Director of the Authority. The Authority in accordance with the provisions of the Bylaws may add additional persons to the Board. The Board shall initially consist of nine (9) directors, and the initial directors of the Authority ("Director" or "Directors") shall be those persons named in Article VIII. Each initial Director named in Article VIII hereof shall serve for the term prescribed in the Bylaws. Subsequent Directors shall be appointed. by position to the Board as prescribed in the Bylaws. Except as provided in the Articles of Incorporation, each Director shall serve for the term provided in the Bylaws. Any Director may be removed from office at any time, with or without cause, by the City Council. The initial Chairperson shall be Alton Porter, and the Mayor of the City shall designate each subsequent Chairperson of the Board. 2