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<br />( <br /> <br />( <br /> <br />l <br /> <br />t' <br /> <br />~ <br /> <br />RESOLUTION NO. 82-ll <br /> <br />;... ~::.30L::TIO:.J OF THE CITY COUNCIL DESIG~-1ATING EL:Sl3LE BLIGHTED <br />.;:.::_:'_~: ~'!:\KI:~G THE FINDINGS REQUIRED BY THE RUL::.= OF THE TEXAS <br />::;:::.3T~IAL Cml:.lISSION; AND CONTAI~n;G OTHER NATT::?S RELATING TO <br />":'::::: ~tEJECT. <br /> <br />-..... <br /> <br />WHEREAS, by resolution the City Council (the ~:ity. Council") <br />o~ :~e City of La Porte, Texas (the "City"), authorized and <br />a~~~:~ed the creation of the City of La Porte Ind~::~ial Develop- <br />:::e::: C:or?oration (the "Corporation") as a nonprc::t industrial <br />=-:-::::o?::ien t corpora tion under the prov is ions of t~e Development <br />Cc~;cration Act of 1979, Article 5190.6, Vernon's Annotated <br />~exa= Civil Statutes, as amended (the "Act"); and <br /> <br />~.jHEREAS, the Ci ty <br />o:::-=r=.ti~g and existing <br />~::e .3tate of Texas (the <br />C~a~:er of the City; and <br /> <br />is a duly incorpora ted <br />under the Consti tution <br />"State") and the duly <br /> <br />Ec::-,e Rule Ci ty, <br />a:::5 the lat,vS of <br />acc;':ed Home Rule <br /> <br />~'iHERErlS, the Corporation is author i zed by t::e Ac t to issue <br />=c:::::= on behalf of the Ci ty for the purpose of ?a~'ing all or a <br />;:ar: of the costs of a "project" as defined in t::e Act, and to <br />leas; or sell the project or to loan the proceeds of the bonds <br />:0 ::~ance all or part of the costs of a project; a::j <br /> <br />~';HERE';S, the definition of "project" in the ;"c:. includes the <br />2.a;-.d, buildings, equipment, facilities and imprc-:-=:::ents (one or <br />:::o~e found by the Borad of Directors of the Cor::;)~ation to be <br />r~~~:red or suitable for the promotion of commerc:~l development <br />a~= -=xpansion and in furtherance of the public pur?c:es of the Act, <br />or ::~ use by commercial enterprises, all as defi~e= in the rules <br />0: :'~2 Texas Industrial Commission (the "Commissic::"), irr~spec~ <br />:.i~e ~f whether in existence or required to be ac~~ired or ~on- <br />st~~::.ed thereafter, if such project is located ::1 blighted or <br />ecc~:~icully depressed areas; and <br /> <br />~if'fERE';S, as used in the Act, the term "blig:::ed or econom- <br />:.caj,:::, C0pt"cssed areas" means ,those .:lreas and are=.s immediately <br />~d:5=~~t thereto within a c{ty whi~h by re~son of :~e presence o~ <br />.1 s:..:::,:;tu:ltial number or substundard, slum, d~:-=:-ior.3tcd, or <br />,,;.::::;:-:or.:1ting structures, or \-Ihi~h surf8t" fro:n a ::igh relative <br />:.-:.:~ ,)f une:nployment of any combination of the :.:regoing, the <br />:::.~' :i:.~is and determines, ufter u heuring, subs:a:::ially impair <br />Jr 3rrost th0 sound growth of the city or constit~:~ an economic <br />:::.- 2 = ..: i z: 1 1 i a b i 1 i t Y un (] are u In e Il ~l C e tot h c pub 1 i c ~. e a 1 t h, 5 u f e t~' <br />~~ fte:fur0 in their present condition .:lnd use; and <br />