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<br />We, the undersigned natural persons, each of whom is of the
<br />age of eighteen (18) years or more, and a qualified elector of the
<br />City of La Porte (the "Unit"), acting as the incorporators of a
<br />corporation under the Development Corporation Act of 1979, Article
<br />5190.6, section 4B, Vernon's Annotated Texas civil statutes, as
<br />amended (the "Act"), do hereby adopt the following Articles of
<br />Incorporation for such corporation:
<br />
<br />e
<br />
<br />e
<br />
<br />ARTICLES OF INCORPORATION
<br />OF THE
<br />CITY OF LA PORTE
<br />DEVELOPMENT CORPORATION
<br />
<br />ARTICLE I
<br />
<br />The name of the corporation is "CITY OF LA PORTE DEVELOPMENT
<br />CORPORATION" .
<br />
<br />ARTICLE II
<br />
<br />The corporation is a nonprofit corporation.
<br />
<br />ARTICLE III
<br />
<br />The duration of the corporation shall be perpetual.
<br />
<br />ARTICLE IV
<br />
<br />The corporation is organized under, and shall be governed by,
<br />the Development Corporation Act of 1979, Article 5190.6, Section
<br />4B, Vernons Annotated Texas civil statutes, as amended (the "Act") ,
<br />and may issue bonds on behalf of the Unit for the specific public
<br />purpose to undertake projects as described in section 4B of Article
<br />5190.6, including but not limited to projects for the promotion of
<br />amateur athletics and sports including ball parks, auditoriums,
<br />projects related to entertainment, convention, tourist, and
<br />exhibition facilities, amphitheaters, concert halls, and public
<br />parks, park facilities and events, open space improvements,
<br />learning centers, municipal buildings, museums and related stores,
<br />restaurant, concession, and automobile parking facilities, related
<br />area transportation facilities, and related roads, streets, and
<br />water and sewer facilities, recycling facilities and projects to
<br />promote new or expanded business enterprises including public
<br />safety facilities, streets and roads, drainage, and related
<br />improvements, demolition of existing structures, and general
<br />improvements that are municipally owned, development and expansion
<br />of affordable housing, as well as any other improvements or
<br />facilities that are related to any of the above projects and any
<br />other project that the board determines will promote new or
<br />expanded business enterprises, and the maintenance and operations
<br />expenses for any of the above described projects.
<br />
<br />ARTICLE V
<br />
<br />The corporation has no members and is a nonstock corporation.
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