Recreational Development Corporation

The Corporation is a non-profit, non-stock, non-member Corporation, and is an industrial development Corporation under the Development Corporation Act of 1979, Texas Revised Civil Statutes Annotated, Article 5190.6 (the "Act"), and shall be governed by Section 4-B of said Act, as now existing, or as may be hereafter amended. The Corporation is organized exclusively for the purpose of benefiting and accomplishing the following public purposes, including the issuance of bonds, on behalf of the City of Port Aransas, Texas: the construction, development, expansion, maintenance, operation, and promotion of recreational and sports facilities and programs, including but not limited to, sports fields and stadiums, swimming pool, sports complexes, and related facilities and improvements.