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HomeMy WebLinkAboutResolution - 4963 - Directs METTS Inc To Amend Its Articles Of Incorporation - IRS Requirments - 09/28/1995Resolution No. 4963 September 28, 1995 Item X613 RESOLUTION WHEREAS, the City has been informed that the Internal Revenue Service requires that the METTS, Inc. Articles of Incorporation be amended in order to receive consideration for approval as a 501(c)(3) organization; and WHEREAS, pursuant to Article 9 of the Articles of Incorporation of said organization, the City Council may direct the directors of said corporation to amend its Articles of Incorporation; and WHEREAS, it is in the best interest of the City for said Articles to be amended; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the Board of Directors of METTS, Inc. is hereby directed to amend its Articles of Incorporation by changing Article 4 of said Articles of Incorporation so that it will be amended to read as set forth in Exhibit A of this Resolution which Exhibit is attached hereto and made a part hereof. Passed by the City Council this ATTEST: etty . Johnson City Secretary APPROVED AS TO CONTENT: Debra Forte', Ass start City Manager APPROVED AS TO FORM: < JOrtC. Ross, Jr., City Atto ey JCR: da/ccdocs/METTS.res September 20, 1995 EXHIBIT A "ARTICLE FOUR Purposes The Corporation is organized exclusively for charitable purposes within the meaning of Section 501(c)(3) of the Internal Revenue Code of 1986 (or the corresponding provision of any future United States Internal Revenue Law) to lessen the burdens of government of the City of Lubbock. In furtherance of its charitable purpose, the Corporation will operate to promote the tourism and the convention and hotel industry in the City of Lubbock (the "City") and its vicinity as described in Section 351.101(a) of the Texas Tax Code, including but not limited to advertising and conducting solicitations and promotional programs to attract tourists and convention delegates or registrants to the City of Lubbock or its vicinity. In furtherance of its charitable purpose, the Corporation will advise and make recommendations to the City of Lubbock pertaining to the use and operation of the Civic Center, auditorium/coliseum and all future similar facilities, including but not limited to, the review of rental rates, short and long range planning pertaining to restoration, renovations and/or capital improvements, and offering any other recommendations as deemed advisable by the Board of Directors of the Corporation or requested by the City of Lubbock concerning the facilities herein described or their related activities."