HomeMy WebLinkAboutR-2015-04 approve amendment to Section 5.04 of the bylaws of LP Development Corporation RESOLUTION 2015 04
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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.
PASSED,APPROVED, AND ADOPTED this the 9t" day of March,2015.
Louis 'gby
Mayo
ATTEST:
P&�,:&,
Patrice Fogarty, City cretar
Clark T. Askins,Assistant City Attorney
Exhibit A
5.04 The Board of Directors shall obtain prior City Council approval of all real estate acquisitions, real
estate leases exceeding one year and/or any other leases exceeding one year; all bond issues or other
debt extending beyond one year; and, contracts, expenditures, or debts over$15,000.00. The Board of
Directors shall have the authority to enter into all other budgeted transactions without prior or additional
City Council approval. Notwithstanding the foregoing, the Board of Directors shall have the authority to
approve all budgeted Enhancement Grant expenditures for an amount equal to or less than $25,000,
without additional approval of City Council. Amendments to the Corporation's budget must be approved
by the City Council.