HomeMy WebLinkAbout04-04-1983 Regular Meeting Industrial Development Corporation Board of Directors
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t9INUTES OF REGULAR MEETING
OF THE
BOARD OF DIRECTORS
OF TiiE
CITY OF LA PORTE INDUSTRIAL DEVELOPMENT CORPORATION
The Board of Directors of the City of La Porte Industrial
Development Corporation convened in regular meeting at 7:00
P.M. on the 4th day of April, 1963, at La Porte, Texas, said
meeting having been duly called. Present at the meeting were
all the members of the Board of Directors, to-wit:
VIRGINIA CLINE
W. R. SPRINGALL
LOIS COMPTON
ROBERT WHITE
DOUGLAS F. LATIMER, JR.
JOHN Ct LONGLEY
JACK LAWLER
thus constituting a majority and a quorum of the Board of
Directors.
Upon motion duly made, seconded and carried by unanimous vote,
the Minutes of the Regular Meeting of the Board of Directors
of March 3, 1983, were approved as presented.
President Cline administered the oath of office to newly
appointed Director Jack Lawler.
Carolyn Truesdell of the Houston law firm of Vinson ~ Elkins,
Bond Attorneys for La Quinta, described the recent changes in
the Federal tax laws affecting industrial development bonds.
Alan Tallis, Director of Developments .for La Quinta, presented
a description of what the La Quinta Inns Development; Project
will consist of, their marketing program, their hiring program,
and 'a projected ad valorem tax of 550,000.00 per year on the
City of La Porte operation. He noted that La Quinta: will hire
mainly from the City of La Porte for all jobs, except for the
resident manager.
Upon motion duly made, seconded and carried by unanimousE~vote,
a resolution and agreement_to issue bonds in form: attached
hereto, was unanimously approved.
Denny Barfield, Attorney, from Pasadena, legal counsel.-for
Guminey-Hamilton Interests, presented a partial description
of a proposed strip shopping center on Fairmont Parkway, located
just east of the Assembly of God Church. The T3oard called a
Special Meeting for .7:00 P.M. Thursday, April 14, 1983, to
formally consider the Guminey-Hamilton application.
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There being no further business to come before the Board, the
meeting was, upon motion duly made, duly adjourned.
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Secretary
APPROVED:
Pres dent ~