Number
R13154
Version
Original
Reference
Sponsor
The Chair
Title
Resolution approving the adoption by the Housing Authority of the City of Milwaukee of the Becher Court Development LLC Operating Agreement
Analysis
Body
WHEREAS, Becher Court Development LLC, a Wisconsin limited liability company (the “Company”) was formed pursuant to Articles of Organization, filed September 10, 2019 with the State of Wisconsin Department of Financial Institutions, as amended September 12, 2019 (collectively the “Articles”), and attached hereto as Exhibit A; and
WHEREAS, the Company is the sole member and managing member of Becher Court LLC; and
WHEREAS, pursuant to the Articles, management of the Company is vested in its members; and
WHEREAS, the Company shall be operated in accordance with the terms of the Operating Agreement of Becher Court Development LLC (the “Operating Agreement”), which provides that management of the Company shall be vested in its members; and
WHEREAS, the Housing Authority of the City of Milwaukee, is the sole member and managing member of the Company (the “Sole Member”); and
WHEREAS, the Sole Member deems it to be in the Sole Member’s and Company’s best interest to adopt the Operating Agreement of the Company; and
WHEREAS, to effectuate the foregoing, the Sole Member deems it to be in the Sole Member’s and Company’s best interest to confirm the creation of the Company pursuant to the Articles attached hereto as Exhibit A and to approve the Operating Agreement, in substantially the form reviewed by the undersigned and attached hereto as Exhibit B.
RESOLUTIONS
BE IT RESOLVED, that the Company was formed pursuant to the Articles attached hereto as Exhibit A; and, be it
FURTHER RESOLVED, that the Operating Agreement, in substantially the form reviewed by the undersigned and attached hereto as Exhibit B, is hereby approved in all respects; and, be it
FURTHER RESOLVED, that the Sole Member, acting alone is hereby authorized and direc...
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