MDD Resolution No. 2 RESOLUTION NO.2
A RESOLUTION OF THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT,
ESTABLISHING A FUND KNOWN AS THE DEVELOPMENT PROJECT FUND
AND ESTABLISHING SEPARATE ACCOUNTS WITHIN THE FUND;AND
PROVIDING FOR THE PUBLICATION AND THE EFFECTIVE DATE THEREOF.
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BE IT RESOLVED BY THE BAYTOWN MUNICIPAL DEVELOPMENT DISTRICT:
Section l:That the Baytown Municipal Development District hereby establishes a fund
known as the development project fund and further establishes separate accounts within the fund.The
Baytown Municipal Development District shall deposit into the fund herein established the following:
(1)the proceeds from any sales and use tax imposed by the district;
(2)all revenue from the sale of bonds or other obligations by the district;and
(3)any other money required by law to be deposited in the fund.
Monies within the development project fund may be used only to:
(1)pay the costs of planning.acquiring,establishing,developing,constructing,or renovating one
or more development projects in the district;
(2)pay the principal of,interest on,and other costs relating to bonds or other obligations issued
by the district or to refund bonds or other obligations;or
(3)pay the costs of operating or maintaining one or more development projects during the
planning.acquisition,establishment,development,construction,or renovation or while bonds
or other obligations for the planning,acquisition,establishment,development,construction,
or renovation are outstanding.
Section 2:This resolution shall take effect immediately from and after its passage by the
Board of Directors of the Baytown Municipal Development District.
INTRODUCED,READ and PASSED by the affirmative vote of the Board of Directors of the
Municipal Development District this the 26th day of June,2001.
"C.4-
PETE C.ALFARO.President
ATTEST:
BILL GILBERT.Secretary
APPROVED AS TO FORM:
ACIO RAMIREZ.,General Counsel
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