10-10-1989 Meeting - Laserfiche WebLink

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.,, -v. • • RESOLUTION NO. A RESOLUTION OF THE LA PORTE AREA WATER AUTHORITY, APPOINTING THE CITY OF LA PORTE, A MUNICIPAL CORPORATION, AS THE AGENT AND TRUSTEE OF THE LA PORTE AREA WATER AUTHORITY, TO FACILITATE THE DEPOSIT OF THE LA PORTE AREA WATER AUTHORITY'S FUNDS, UNDER THE TERMS AND PROVISIONS OF THE DEPOSITORY AGREEMENT BETWEEN THE CITY OF LA PORTE AND BAYSHORE NATIONAL BANK OF LA PORTE, DATED OCTOBER 1, 1988. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE LA PORTE AREA WATER AUTHORITY: Section 1. The La Porte Area Water Authority hereby appoints the City of La Porte, a municipal corporation, as its agent and trustee, to facilitate the deposit of La Porte Area Water Authority funds with Bayshore National Bank of La Porte, under the terms and provisions of the Depository Agreement between the City of La Porte and Bayshore National Bank of La Porte, dated October 1, 1988. All funds deposited for the La Porte Area Water Authority, in Bayshore National Bank of La Porte, by the City of La Porte, shall be fully secured and collateralized, in accordance with the terms and provisions of said Depository Agreement between the City of La Porte and Bayshore National Bank of La Porte, dated October 1, 1988. Section 2. The Board of Directors of the La Porte Area Water Authority officially finds, determines, recites and declares that a sufficient written notice of the date, hour, place and subject of this meeting of the La Porte Area Water Authority was posted at a place convenient to the public at the City Hall of the City of La Porte, Texas for the time required by law preceding this meeting, as required by the Open Meetings Law, Article 6252-17, Texas Revised Civil Statutes Annotated; and that this meeting has been open to the public as required by law at all times during which this resolution and the subject matter thereof has been discussed considered and formally acted upon. The Board of Directors of the La Porte Area Water Authority further ratifies, approves and confirms such written notice and the contents and posting thereof. Section 3. This Resolution shall be in effect from and after its passage and approval.