Laserfiche WebLink
t <br />• <br />• <br />• <br />RESOLUTION WITH RESPECT TO COMMERCIAL PROJECT <br />WHEREAS, La Porte Industrial Development Corporation <br />(the "Issuer") has adopted a resolution with respect to the issu- <br />ance of bonds to finance a commercial development (the "Project") <br />for Trangalee Development, Inc. (the "User"); and <br />WHEREAS, the project proposed by the User is suitable <br />for the promotion of commercial development and expansion and in <br />furtherance of the public purposes of the Development Corporation <br />Act of 1979, adopted by the legislature of the State of Texas <br />(the "Act"); and <br />WHEREAS, the Project is located in an area which has <br />been determined by the City Council of the City of La Porte to be <br />a "blighted area" within the meaning of the Act; <br />WHEREAS, the Issuer; acting through its officers and <br />Board of Directors, has recommended that preliminary approval for <br />the Project be given so that the owners can proceed with the <br />Project: <br />NOW, BE IT RESOLVED AND ORDERED by the City Council of <br />the City of La Porte that: <br />1. Preliminary approval is hereby given in connection with <br />the issuance of bonds by the Issuer to finance the <br />Project. <br />2. The "Resolution With Respect to the Issuance~of Bonds <br />to Finance a Commercial Development" is hereby specif- <br />ically approved. <br />• <br />443D09/R <br />F3 <br />