HomeMy WebLinkAboutResolution 1992-044
RESOLUTION NO. 92-44
A RESOLUTION AUTHORIZING THE CREATION OF THE NORTH
RICHLAND HILLS PARK AND RECREATION FACILITIES
DEVELOPMENT CORPORATION AS AN INSTRUMENTALITY OF
THE CITY OF NORTH RICHLAND HILLS, TEXAS; AND CONTAINING
OTHER PROVISIONS RELATING TO THIS SUBJECT
WHEREAS, the Development Corporation Act of 1979, Article 5190.6, Vernon's
Ann. Civ. St., as amended (the "Act"), authorizes cities to create industrial corporations to
act on their behalf in the promotion and financing of projects so as to eliminate
unemployment and underemployment and to promote and encourage employment and the
public welfare; and
WHEREAS, the City of North Richland Hills, Texas (the "City") has held an election
and is authorized to create a corporation under the Act that is governed by Section 4B of
the Act, and the City Council intends hereby to approve the Articles of Incorporation and
Bylaws and the creation of the North Richland Hills Park and Recreation Facilities
Development Corporation (the "Corporation"); and
WHEREAS, the City Council has determined to authorize and approve the
incorporation of the Corporation as its constituted authority and instrumentality to act on
its behalf in accomplishing the public purposes described in the Act, in the Articles of
Incorporation, and in Article III, Section 52-a, of the Texas Constitution.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF NORTH RICHLAND HILLS, TEXAS:
SECTION 1. That the incorporation of the Corporation is hereby authorized and
approved as an industrial development corporation under the provisions of the Act, with the
same to be governed by Section 4B thereof.
SECTION 2. That the Articles of Incorporation of the Corporation, in the form
attached hereto, are hereby approved; the initial directors named therein are hereby
appointed as directors of the Corporation for the terms therein stated, and the incorporators
are authorized to file the same with the Secretary of the State as provided by the Act.
SECTION 3. That the Bylaws of the Corporation shall be in a form approved by the
City Council, and the same shall be adopted by the board of directors of the Corporation
prior to the commencement of its business.
SECTION 4. That, upon dissolution of the Corporation, the City hereby agrees to
and shall accept title to any and all real, personal, or other property owned by the
Corporation at such time, subject to all rights of third parties that may then exist.
SECTION 5. That the City Council has found and determined that the meeting at
which this resolution is considered is open to the public and that notice thereof was given
in accordance with the provisions of the Texas Open Meetings Law, Article 6252-17,
Vernon's Ann. Civ. St., as amended.
PASSED AND APPROVED by the City Council of the City of North Richland Hills,
Texas, and effective, on this 14th day of September, 1992.
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Tommy Brown ayor
ATTEST:
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APPROVED AS TO FORM AND LEGALITY: