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HomeMy WebLinkAboutR80-243R80',243 O0 152 A RESOLUTION by the City Council of the City of Plainview, Texas, approving and authorizing the creation of the' "Plainview Industrial Development Authority, Inc." to act for and on behalf of the City in the promotion and development of commercial, industrial and manufacturing enterprises and encouraging employment and the public welfare; approving the. articles of incorporation for its creation and _initial bylaws' governing its affairs; appointing the intital board of directors therefor; - and making certain findings, recitals,: and pro- visions in regard to said corporation and matters incident and related to its establishment, operar tions and affairs. WHEREAS, a written application, signed-by three natural persons each of whom is eighteen years of age or older and a qualified elector of the City of Plainview, Texas, has been . submitted to this Council requesting approval and authorization for the cre-ation of the "Plainview Industrial Development Authority, Inc.", under and pursuant to the provisions of the Development Corporation Act of 1979, Acts of the 66th Legislature, Regular Session, 1979, Chapter 700 (hereinafter referred to as the "Act"), to act for and on behalf of the City in the promotion and development of-commercial, industrial and manufacturing enterprises and encouraging employmemt and the public welfare; and WHEREAS, upon reviewing the aforesaid application, the proposed articles of incorporation and bylaws, this Council ~ereby finds and determines that' said application should be approved, the aforesaid Corporation should 'De created and established to act for and on behalf of the City for the limited purposes specified and the articles of incorporation and bylaws prepared for its creation, establis~hment, organization and governing of its internal affairs be approved; now, therefOre, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF. PLAtNVIEW, TEXAS: SECTION 1: That .the creation and. establishment of the !! "P. lai~-~iew In~ustrial Authority, Inc." (hereinafter called and referred to as the "Corporation"), under and pursuant to the provisions of the Act., to act for and on behalf of the City in the accomplishment of the specific public purposes of Promotin. g an~ developing commercial, industrial and manufacturing enterprzses to promote and encourage employment and the public welfare is hereby approved ahd authorized. SECTION 2: That the Corporation shall have and be vest.e~-w!~th, the powers prescribed in the Act to accomplish' the specific public purposes prescribed herein, and in the gonduat of its affairs, the Corporation shall be subject to and comply with the provisions and requirements Of the Act and this 'Resolution. ' SECTION 3: That. the Articles of Incorporation and initial Bylaws of the Corporation, in the forms attached hereto, are hereby, approved for use and' adoption, by the CorporatiOn; provzded, however, that-any amendments to the Articles of Incorporation or initial Bylaws shall be subject- to the further approval of this Council. The persons named in Article VII of the Articles of Incorporation shall be deemed to have been appointed, and are hereby appointed, as the initial directors of the Corporation herein approved and authorized to be created. ' 153 O0 SECTION 4: That the Corporation is hereby-designated as a d-~y con~-tituted authorit~ and instrumentality of the City (within th~ meaning bf those terms in the regulations of the TreasurY and the rulings of the Internal Revenue Service prescribed and promulgated pursuant to Section 103 of the Internal Revenue Code of 1954, as ame~nded) and shall be authorized to act on behalf of the City for the public purposes heretofore prescribed; but the Corporation is not intended to be and shall not be a political subdivision or a' ~ political corporation within the meaning of the Constitution and laws of the State of Texas, including without limitation Article III, Section 52 of the State Constitution, and the City does not. delegate to the Corporation any of its attributes of sovereignty, including the power to tax, the power of eminent domain and.police power. SECTION 5: That, upon dissolution of the Corporation, the City shall accept, and hereby agrees to accept, title to or other interests in any real or personal property owned 'by the Corporation at such time. sECTION 6: That the Council hereby officiall% finds', determines, re-cites and declares that a sufficient written notice of the date, hour and place of this meeting and the subject of this resolution was posted on a bulletin board located at a place covenient to the public in the City Hall i. of the City for at least 7.2 hours preceding the scheduled time of the ~neeting; .the place of posting the aforesaid ~ notice was readily accessible to the general public at all ~ times from the time of posting until the scheduled time of the.meeting; and such meeting was open to the public at all '- times during which this Resolution and the subject matter hereof was discussed, 'considered and formally acted upon, as ~: ze~uired by the Open Meeting Law (Article 6252-17, Vernon's. ?! TeXas Civil Statutes as amended), The Council further ratifies, approves and confirms such· written notice ~and the ~ contents and posting thereof, ~i ' SECTIDN 7: That the Corporation is hereby authorized to i!~ n...egot!-ate wit~ any person, firm, corporation or other entity ii ln~ the performance and accomplishment of ~its authori.zed p.u~r~oses i! and take official ac ion for and on behalf of the City witm respect to the develtopment. and financing of a "proje~ct", as ,~ defined -in the Act; and $10,000,000 shall be the total amount ~i of financing authorized ,t,o be ~in,c, urre~d by' the Corporation.witch ~ with ~e. soec. t to any one project , un±ess a greater amount oz ~ fin. anc~n~ ~s hereafter approved and authorized pursuant to. a resolution adopted and passed by the Council. -SECTION~ 8: That this resolution shall be effective ~- ir~medmat ly from and after its passage, and it is so resot~-ed. PASSED AND APPROVED, this the 22nd day of - April, 1980. ATTEST: Plain~iew, Texas (.City Seat).