HomeMy WebLinkAboutPR 23926: TO CHANGE THE NAME OF SECTION 4A PAEDC TO PAEDC pO I 0,01114.*AR UR
INTEROFFICE MEMORANDUM
Date: September 17, 2024
To: Honorable Mayor and City Council
Through: Ron Burton, CPM I City Manager
From: Terry Stokes, PAEDC Chief Executive Officer
RE: PR 23926 I adoption of the amendment to the PAEDC certificate of formation,
which changes the name of the PAEDC from the City of Port Arthur Section 4A
Economic Development Corporation to the "Port Arthur Economic Development
Corporation."
The intent of this Agenda Item is to seek the City of Port Arthur City Council's approval for the
adoption of the amendment to the PAEDC certificate of formation,which changes the name of the
PAEDC from the City of Port Arthur Section 4A Economic Development Corporation to the"Port
Arthur Economic Development Corporation."
Background:
Since the creation of the PAEDC, the Act has been recodified as Chapters 501 through 507 of the
Texas Local Government Code, and which renders the reference to "Section 4A" in the PAEDC
name obsolete; and the City Council finds that the adoption of a new entity name which reflects
the updated language of the currently-codified governing law for type A economic development
corporations is in the best interests of the City and of the PAEDC;
Budgetary Impact:
There is no budgetary impact.
Recommendation:
It is recommended that the City of Port Arthur City Council approve the adoption of the
amendment to the PAEDC certificate of formation, which changes the name of the PAEDC from
the City of Port Arthur Section 4A Economic Development Corporation to the "Port Arthur
Economic Development Corporation."
P.R. No. 23926
9/17/2024 TS
RESOLUTION NO.
A RESOLUTION OF THE OF THE CITY OF PORT ARTHUR,
TEXAS APPROVING AND RATIFYING AN AMENDMENT TO
THE CERTIFICATE OF FORMATION FOR THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION, FOR PURPOSES OF ESTABLISHING A NEW
ENTITY NAME; AND ADDRESSING RELATED MATTERS
WHEREAS, pursuant to its authority under Chapters 501 and 504 of the Texas Local
Government Code, the City of Port Arthur (sometimes "City") has previously authorized the
creation of the City of Port Arthur Section 4A Economic Development Corporation (the
"PAEDC"), which is a public instrumentality and non-profit industrial development corporation
duly established and operating under Texas Local Government Code, Chapters 501 and 504, et
seq., as amended, known as the Development Corporation Act of 1979 (the "Act"); and
WHEREAS, the City recognizes that, since the creation of the PAEDC,the Act has been
recodified as Chapters 501 through 507 of the Texas Local Government Code, and which renders
the reference to "Section 4A" in the PAEDC name obsolete; and
WHEREAS, the City Council finds that the adoption of a new entity name which reflects
the updated language of the currently-codified governing law for Type A economic development
corporations is in the best interests of the City and of the PAEDC; and
WHEREAS, the PAEDC Board of Directors at their Regular Meeting of April 22,2024,
approved an amendment to the Articles of Incorporation for adopting a name change for the
PAEDC and approved all necessary public filings to effectuate the same; and
WHEREAS, such necessary public filings have since been undertaken to establish the
name change.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY OF PORT ARTHUR,
TEXAS,THAT:
SECTION 1. The City Council of the City of Port Arthur hereby finds that all the recitals
above are true and correct and are incorporated herein as if restated in full.
SECTION 2. The City finds it advisable to ratify, and therefore ratifies, the amendment
to the PAEDC certificate of formation, dated which changed the name of the PAEDC from the
City of Port Arthur Section 4A Economic Development Corporation to the"Port Arthur Economic
Development Corporation."
SECTION 3.The amendment as provided in Exhibit A(the"Certificate of Amendment")
is approved as to form.
SECTION 4. This Resolution is effective upon passage.
READ, ADOPTED, AND APPROVED this day of , AD, 2024, at a
Regular Meeting of the City Council of the City of Port Arthur, Texas,by the following vote:
AYES: Mayor
•
Councilmembers
•
NOES:
THURMAN BARTIE, MAYOR
CITY OF PORT ARTHUR, TEXAS
ATTEST:
SHERRI BELLARD, CITY SECRETARY
APPROVED:
TERRY STOKES, PAEDC CEO
APPROVED AS TO FORM:
CHARLES ZECH, PAEDC ATTORNEY
ROXANN PAIS COTRONEO, CITY ATTORNEY
Exhibit "A"
THE BOARD OF DIRECTORS OF THE CITY OF PORT
ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION APPROVE THE ASSIGNMENT OF A NEW
NAME FOR THE ENTITY; AND AUTHORIZE THE CHIEF
EXECUTIVE OFFICER TO FILE ALL DOCUMENTS
NECESSARY TO EFFECTUATE SUCH CHANGE WITH THE
TEXAS SECRETARY OF STATE; AND ADDRESSING
RELATED MATTERS
WHEREAS, the City of Port Arthur Section 4A Economic Development Corporation (the
"PAEDC") is a public instrumentality and non-profit industrial development
corporation duly established and operating under Texas Local Government Code,
Chapters 501 and 504,et seq.,as amended,known as the Development Corporation
Act of 1979(the"Act"); and
WHEREAS, the PAEDC wishes to update its corporate identity by adopting a new entity name
consistent with current statutes governing industrial development corporations;
and
WHEREAS, the Board of Directors finds that the adopting a new entity name is in the best
interests of the PAEDC;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY OF PORT ARTHUR SECTION 4A ECONOMIC DEVELOPMENT
CORPORATION THAT:
SECTION 1. The Board of Directors hereby finds that all the recitals above are true and correct
and are incorporated herein as if restated in full.
SECTION 2. The Board of Directors hereby resolves that the entity currently known as the City
of Port Arthur Section 4A Economic Development Corporation shall hereinafter be known as the
"Port Arthur Economic Development Corporation," and authorizes the Corporation's Chief
Executive Officer to file the Certificate of Amendment, as provided in the attached Exhibit "A,"
along with any other required documents to legally formalize and implement this name change
with the Texas Secretary of State.
SECTION 3. This Resolution is effective upon passage.
PASSED AND APPROVED on the 22nd day of April 2024.
Darrell Anderson(Aug 5,2024 09.30 CD-1
Darrell Anderson,President
ATE
•
a Secretary
