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• <br />Resolution No. 82-11, Page 3 <br />C~ <br />NOW, THEREFOR , BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF LA PORTE, TEXAS ^1 HAT; <br />Section, 1. The City Council hereby finds, determines and <br />declares that the areas outlined in a heavy black line on the <br />map attached as Exhibit "A" to this Resolution shall be declared <br />to be eligible blighted areas ("EBA") because such areas (i) <br />have a substantial number of substandard, slum, deteriorated, or <br />deteriorating structures and (ii) suffer from a high relative <br />rate of unemployment. The City Council further finds, determines <br />and declares that such conditions in such areas substantially <br />impair or arrest the sound growth of the City, constitute an <br />economic or social liability and are a menace to the public health, <br />safety or welfare. <br />Section 2. The overall objectives of the City for redevelop- <br />ment and recovery of the EBA are as follows: <br />. A. To promote the present and prospective health, safety, <br />rights to gainful employment and general welfare of the people of <br />the City and the State. <br />B. To promote the continued existence, development and <br />expansion of commerce and industry essential to the economic <br />growth of the City and the full employment, welfare and prosperity <br />of its citizens. <br />C. To encourage the economic growth and stability of the <br />City by increasing and stabilizing employment opportunities, <br />significantly increasing and stabilizing the property tax base <br />and promoting commerce within the City and the State. <br />D. To encourage employment of the inhabitants of the EBA <br />by encouraging employers to locate projects which will employ <br />such persons in or adjacent to the Ef3A. <br />Section 3. The City Council hereby finds, determines, de- <br />clares and r~~resents to the Commission that the availability <br />of financing of projects to be located within or adjacent to the <br />EBA f_or commercial uses under the Act will contribute signifi- <br />cantly to the alleviation of the blighted conditions found to <br />exist in the EBA. <br />Section 4. The City Council, in order to enhance its develop- <br />. ment efforts, desires and authorizes the issuance of the Corpora- <br />tion's bonds to finance all commercial projects that are an <br />integral part of the local economy, provided that the City Council <br />