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<br />RESOLUTION AUTHORIZING SALES AND USE TAX RETENTION AGREEMENT WITH THE <br />CITY OF LA PORTE <br /> <br />WHEREAS, the Board of Directors of the City of La Porte Development Corporation (the <br />"Corporation") finds that the new La Porte Community Library is a project the Corporation should <br />support; and <br /> <br />WHEREAS, the City of La Porte is in the process of issuing its "Certificates of Obligation, <br />Series 2000" (the "Certificates") for such purpose and pledging ad valorem taxes to the payment thereof <br />to obtain the best possible credit rating on the Certificates; <br /> <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY <br />OF LA PORTE DEVELOPMENT CORPORATION that the Sales and Use Tax Retention Agreement <br />substantially in the form attached hereto as Exhibit "A" is hereby approved and the officers of the <br />Corporation are authorized to execute and deliver the Agreement. <br /> <br />PASSED, APPROVED, AND ADOPTED this J I 1J-1 D () <br />( <br /> <br />1Y1 ()J}JtPt. J{ JffJ; <br /> <br />Secretary, Board of Directors <br /> <br />