MDD Resolution No. 089 RESOLUTION NO. 89
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN
MUNICIPAL DEVELOPMENT DISTRICT GRANTING CONDITIONAL
APPROVAL OF A REPAYABLE LOAN IN THE AMOUNT OF ONE HUNDRED
THOUSAND AND NO/100 DOLLARS (S100,000.00) FOR GOOSE CREEK INFILL
MOUSING 1. LTD.'S AFFORDABLE HOUSING PROJECT, SUBJECT TO
SATISFYING ALL OF THE APPLICABLE REQUIREMENTS OF THE REVOLVING
LOAN PROGRAM: AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
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 finds that the expenditures authorized herein are for the planning. acquiring. establishing.
developing. constructing or renovating one or more development projects, which satisfy the purposes for
which the funds can be expended pursuant to Chapter 377 of the Texas Local Government Code and
Section 4B(a). Development Corporation Act of 1979 (Article 5190.6, Vernon's Texas Civil Statutes).
All required findings pursuant thereto are hereby declared to have been made and adopted as findings of
the Board of Directors.
Section 2: That the Board of Directors of the Baytown Municipal Development District
hereby grants conditional approval of a repayable loan in the amount of ONE HUNDRED THOUSAND
AND NO/100 DOLLARS ($100,000.00) for Goose Creek Infill Housing 1. Ltd.'s affordable housing
project, subject to satisfying all of the applicable requirements of the Revolving Loan Program. Such
conditional approval shall expire on September 1. 2007. if Goose Creek Infill Housing 1. Ltd., does not
satisfy the conditions of the Revolving Loan Program and obtain the loan on or before such date.
Section 3: The Board of Directors of the Baytown Municipal Development District
represents that any funds which may be committed under the Revolving Loan Program will not first be
provided to the Baytown Municipal Development District by the Goose Creek Infill Housing 1. Ltd., or
the Developer, Consultant, Related Party or any entity or individual acting on behalf of the proposed
Goose Creek Infill Housing 1, Ltd.
Section 4: 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 vot o the Board of Directors of the
Baytown Municipal Development District. this the In day of February, 07.
S P DONCARLOS. President
TT T:
LORRI C%ODY,Assistant Secretary
APPROVED AS TO FORM:
_ ACIO RAMIREZ. SR., eral Counsel
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