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<br />LJ <br /> <br />RESOLUTION t~~ITH RESPECT TO A PUBLIC HEARING AND <br />AUTHORIZING CITY OF LA PORTS INDWSTRIAL DEVELOPMENT <br />CORPORATION INDUSTRIAL DEVELOPMENT REVENUE BONDS <br />(C.K.G. IN~~ESTMENTS PROJECT) SERIES 1983; <br />A LOAN AGREEMENT; AN INDENTURE OF TRUST; ACCEPTANCE OF <br />A CORPORATE GUARANTEE AGREEMENT; ACCEPTANCE OF <br />PERSONAL GUARANTEE AGREEMENT; ACCEPTANCE OF A DEED OF <br />TRUST AND SECURITY AGREEMENT; A MEMORANDUM OF INDENTURE <br />OF TRUST; ACCEPTANCE OF AN INDEMNITY LETTER; AND <br />OTHER MATTERS IN CONNECTION THEREWITH <br />WHEREAS, the City of La Porte Industrial Development <br />Corporation (the "Issuer"), on behalf of the City of La Porte, <br />Texas (the "Unit"), is empowered to finance the cost of projects <br />to promote and develop industrial and manufacturing enterprises to <br />promote and encourage employment and the public welfare by the <br />issuance of obligations of the Issuer which projects will be <br />inside the Unit's boundaries; <br />WHEREAS, C.K.G. Investments, a Texas general partnership <br />.(the "User"), has requested the Issuer to finance the cost of <br />acquiring, constructing, reconstructing, improving, or expanding, <br />as the case may be, an industrial project (the "Project"); <br />• i~iEREAS, on July 14, 1983, the Issuer adopted a <br />"Resolution Concerning Issuance of Bonds to Finance a Project for <br />C.R.G. Investments" (the "Initial Resolution"); <br />WHEREAS, in order to finance the Project, the Issuer <br />proposes to issue bonds styled, "City of La Porte Industrial <br />Development Corporation Industrial Development Revenue Bonds <br />(C.K.G. Investments Project) Series 1983" (the "Bonds"); <br />WHEREAS, section 103(k) of the Internal Revenue Code of <br />1954, as amended (the "Code"), requires that the Bonds be approved <br />by the "applicable elected representative" after a public hearing <br />following reasonable public notice; and <br />WHEREAS, notice of a public hearing with respect to the <br />Project and the Bonds to be held by the Issuer on the date of <br />adoption of this Resolution was published no less than 14 days <br />before this date; and <br />iJHEREAS, the governing body of the Unit, as the <br />"applicable elected representative," will consider the adoption of <br />a written resolution specifically approving this resolution of the <br />Corporation providing for the issuance of the Bonds and <br />specifically approving the Bonds as required by section 103(k) of <br />• the Code; and <br />EXHlBlT B <br />