MDD Resolution No. 476 RESOLUTION NO. 476
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN
MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING AND DIRECTING THE
GENERAL MANAGER TO HONOR THE DISBURSEMENT REQUEST FROM THE
HYATT REGENCY HOTEL FOR PAYMENT OF SIX-HUNDRED THOUSAND
DOLLARS ($600,000.00) FOR THE REMAINDER OF FISCAL YEAR 2024 FOR THE
PURPOSE OF COVERING SHORTFALLS OF THE MONTHLY OPERATING
ACCOUNT; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
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BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL
DEVELOPMENT DISTRICT:
Section 1: That the Board of Directors of the Baytown Municipal Development District
hereby authorizes and directs the General Manager to honor the disbursement request from the Hyatt
Regency Hotel for payment of Six-Hundred Thousand Dollars ($600,000.00) for the remainder of Fiscal
Year 2024 for the purpose of covering shortfalls of the monthly operating account.
Section 2: This resolution shall take effect immediately from and after its passage by the
City Council of the City of Baytown.
INTRODUCED, READ, and PASSED by the affirmative vote of the City Council of the City of
Baytown, this the 23'day of May, 2024.
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e� °o APETILL , President
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ANGPDA AEKS4 , Assistant Secretary
APPROVED A TO 'ORM:
SCOTT LEMORD, General Counsel
R:Scott Ordinances-24-05-23 Hyatt Disbursement.doc