MDD Resolution No. 121 RESOLUTION NO. 121
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN
MUNICIPAL DEVELOPMENT DISTRICT AUTHORIZING THE GENERAL
MANAGER TO NEOGIATE AN EARNEST MONEY CONTRACT WITH GOOSE
CREEK INFILL DEVELOPMENT 1, LTD, FOR PROPERTY LOCATED ON TEXAS
AVENUE; MAKING OTHER PROVISIONS RELATED THERETO; AND
PROVIDING FOR THE EFFECTIVE DATE THEREOF.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN MUNICIPAL
DEVELOPMENT DISTRICT:
Section l: That the Board of Directors of the Baytown Municipal Development District
hereby finds that the expenditures authorized herein are For the planning and/or the construction of a
development project, which satisfy the purposes for which the funds can be expended pursuant to Chapter
377 of the Texas Local Government Code. 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 authorizes the General Manager to negotiate and execute an earnest money contract with Goose
Creek Infill Development 1, LTD, for property located on Texas Avenue, under terms and conditions
deemed acceptable to the District's General Counsel and the District Manager.
Section 3: That the Board of Directors of the Baytown Municipal Development District
hereby authorizes the payment in accordance with the agreement referenced in Section 2 hereof, including
the full cancellation and satisfaction of Goose Creek Infill Development 1, LTD's indebtedness to
the Baytown Municipal Development District secured by the Deed of Trust, Security Agreement
and Financing Statement recorded in the Real Property Records of Harris County, Texas, as
Harris County Clerk's File No. 20070722104.
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 vote o the Board of Directors of the
Baytown Municipal Development District, this the 2nd day of October, 20 8.
STEP EN NCARLOS, President
A Es,r:
KAY E DARN , Assistant ecretary . .. ` :
APPROVED AS TO FORM:
ACIO RAMIREZ, SR., Gene" ounsel
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