1982-07-07 Regular Meeting and Public Hearing

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Resolution II2-10, Page 3. required to be acquired or constructed after the making of such findings by the Board of Directors. Section 4. That the Articles of Incorporation of the Corpor- ation and the Bylaws of the Corporation, in the forms attached hereto are hereby approved for use and adoption by the Corporation; provided, however, that any amendments to the Articles of Incor- poration shall be subject to the further approval of the Governing Body. Section ~. That the Governing Body shall approve by written resolution any agreement to issue bonds, including refunding bonds, adopted by the Corporation, which agreement and resolution shall set out the amount and purpose of the bonds. Furthermore, no issue of bonds, including refunding bonds, shall be sold and delivered by the Corporation without a written resolution of the Governing Body adopted no more than 60 days prior to the date of the sale of the bonds specifically approving the resolution of the Corporation providing for the issuance of the bonds. Section 6. That, upon dissolution of the Corporation, the Unit shall accept title to or other interests in any real or personal property owned by the Corporation at such time. Section 7. That this Resolution is adopted for the purpose of satisfying the conditions and requirements of the Act and of Section 103 of the Internal Revenue Code of 1954, as amended and the regulations prescribed thereunder from time to time and for the benefit of the Corporation, the Unit, the owners or holders from time to time of the obligations of the Corporation and all other interested persons. Section 8. That the Governing Body has considered evidence of the posting of notice of this meeting and officially finds, determines, recites and declares that a sufficient written notice of the date, hour and place of this meeting and of the subject of this Resolution was posted on a bulletin board located at a place convenient to the public in the City Hall of the Unit for at least 72 hours preceding the scheduled time of such meeting; that such place of posting was readily accessible to the general public at all times from such time of posting until the scheduled time of such meeting; and that such meeting was open to the public as required by law at all times during which the Resolution and the subject matter thereof were discussed, considered and formally acted upon, ail as required by the Open Meetings Law, Artile 6252- 17, Vernon's Annotated Texas Civil Statutes, as amended. The . Governing Body further ratifies, approves and confirms such written notice and the contents and posting thereof.