R-2015-04 approve amendment to Section 5.04 of the bylaws of LP Development Corporation

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RESOLUTION 2015 04 - A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, APPROVING AN AMENDMENT TO SECTION 5.04 OF THE BYLAWS OF THE LA PORTE DEVELOPMENT CORPORATION; FINDING COMPLIANCE WITH THE OPEN MEETINGS LAW; PROVIDING AN EFFECTIVE DATE. WHEREAS,the Development Corporation Act of 1979 Article 5190.6 Tex. Rev. Civ. Stats. Ann., as amended, now Chapters 501-505 of the Texas Local Government Code, authorizes cities to create a development corporation or corporations to act on their behalf in the promotion and financing of projects so as to promote the existence, development, and expansion of business, commerce, industry, higher education, and job training which are essential to the economic growth of this state and to the full employment, welfare, and prosperity of residents of this state; and WHEREAS, the City of La Porte has heretofore created the City of La Porte Development Corporation, which operates as a Type B development corporation; and WHEREAS, on February 9, 2015, the City of La Porte Development Corporation voted to approve an amendment to Section 5.04 of the Bylaws of the City of La Porte Development Corporation; and WHEREAS, under Section 501.064, Texas Local Government Code, the bylaws of a development corporation and each amendment of the bylaws must be approved by resolution of the governing body of the corporation's authorizing unit before going into effect; and WHEREAS, the City Council of the City of La Porte has considered and desires to approve the proposed amendments to Section 5.04 of the Bylaws of the City of La Porte Development Corporation, and ratify the adoption of the proposed amendments to Section 5.04 of said Bylaws by the City of La Porte Development Corporation. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS: Section 1. That the Bylaws of the City of La Porte Development Corporation, as amended by the City of La Porte Development Corporation by its vote on February 9, 2015, to revise Section 5.04 of said Bylaws, and as reflected in the form attached hereto as Exhibit A and incorporated by reference for all purposes, are hereby approved. Section 2. The City Council of the City of La Porte officially fmds, determines, recites and declares that a sufficient written notice of the date, hour,place and subject of this meeting of the City Council was posted at a place convenient to the public at the City Hall of the City for the time required by law preceding this meeting, as required by Chapter 551, Texas Government Code; and that this meeting have been open to the public as required by law at all times during which this Resolution and the subject matter thereof has been discussed, considered and formally acted upon. The City Council further ratifies, approves and confirms such written notice and the contents and posting thereof. Section 3. This Resolution shall be effective upon its passage and approval.