1982-07-07 Regular Meeting and Public Hearing

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• • RESOLUTION N0. 82-11 A RESOLUTION OF THE CITY COUNCIL DESIGNATING ELIGIBLE BLIGHTED AREAS: MAKING THE FINDINGS REQUIRED BY THE RULES OF THE TEXAS INDUSTRIAL COMMISSIOIQ; AND CONTAINING OTHER MATTERS RELATING TO THE SUBJECT. WHEREAS, by resolution the City Council (the "City Council") of the City of La Porte, Texas (the "City"), authorized and approved the creation of the City of La Porte Industrial Develop- ment Corporation (the "Corporation") as a nonprofit industrial development corporation under the provisions of the Development Corporation Act of 1979, Article 5190.6, Vernon's Annotated Texas Civil Statutes, as amended (the "Act"); and WHEREAS, the City is a duly incorporated Home Rule City, operating and existing under the Constitution and the laws of the State of Texas (the "State") and the duly adopted Home Rule Charter of the City; and WHEREAS, the Corporation is authorized by the Act to issue bonds on behalf of the City for the purpose of paying all or a part of the costs of a "project" as defined in the Act, and to lease or sell the project or to loan the proceeds of the bonds to finance all or part of the costs of a project; and 6•]HEREAS, the definition of "project" in the Act includes the land, buildings, equipment, facilities and improvements (one or more) found by the Borad of Directors of the Corporation to be required or suitable for the promotion of commercial development and expansion and in furtherance of the public purposes of the Act, or for use by commercial enterprises, all as defined in the rules of the Texas Industrial Commission (the "Commission"), irrespec- tive of whether in existence or required to be acquired or con- structed thereafter, if such project is located in blighted or economically depressed areas; and D7HEREA5, as used in the Act, the term "blighted or econom- ically depressed areas" means those areas and areas immediately adjacent thereto within a city which by reason of the presence of a substantial number of substandard, slum, deteriorated, or deteriorating structures, or which suffer from a high relative rate of unemployment of any combination of the foregoing, the City finds and determines, after a hearing, substantially impair or arrest the sound growth of the city or constitute an economic or social liability and are a menace to the public health, safety or welfare in their present condition and use; and •