HomeMy WebLinkAbout0116_0114Section 1. Based solely upon the representations made
to the BoardDirectors (the "Board") and to the Commission by
the User, it appears and the Board hereby finds that:
A. The Project is required or suitable for the
promotion of development and expansion of commer-
cial facilities and related facilities, irrespec-
tive of whether in existence or required to be
acquired or constructed after the making of these
findings by the Board.
B. Additionally:
(i) the Project will have an impact on the
employment within the Unit in that new jobs
will be created thereby increasing employment
opportunity;
(ii) the Project sought to be financed pursuant to
the Agreement is in furtherance of the public
purpose of the Development Corporation Act of
1979 (Article 5190.6, Vernons Texas Civil
Statutes, as amended), including the .promo-
tion of development and expansion of commer-
cial enterprises to promote and encourage
-employment and the public welfare; and
(iii) the Project will contribute significantly to
the fulfillment of theredevelopmentobjec-
tives of the Unit for the blighted or econom-
ically depressed area.
C. The Project will contribute to the economic growth
or stability of the Unit by.(i) increasing employ-
ment opportunity, (ii) significantly increasing or
stabilizing the property tax base, and
(iii) promoting commerce within the Unit and the
State of Texas.
_Section 2. The Board hereby finds, determines, re-
cites,, and
e-cites,and declares that a public hearing with respect to the
Bonds and the Project was held.on December 3, 1984; and that all
comments from interested persons were taken at such public
hearing. The Board hereby directs that information with respect
to the public hearing be provided to the governing body of the
Unit prior to its consideration of adoption of a resolution
approving the Bonds
-3-