O-1994-1971 - Laserfiche WebLink

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-- e BE IT ORDAINED BY THE CITY COUNCil. OF THE CITY OF LA PORTE, TEXAS, THAT: SECTION 1. AMOUNT AND PURPOSE OF THE BONDS. The bonds of City of La Pone (the "Issuer") are hereby authorized to be issued and delivered in the aggregate principal amount of S7.505.000, FOR THE PURPOSE OF PROVIDING FUNDS TO REFUND THE ISSUER'S REFUNDED OBLIGATIONS (as described in the preamble hereto). SECTION 2. DESIGNATION. DATE. DENOMINATIONS. NUMBERS. AND MATIJRITIES OF BONDS. Each bond issued pursuant to this Ordinance shall be designated: "CITY OF LA PORTE, TEXAS, GENERAL OBLIGATION REFUNDING BOND, SERIES 1994", and initially there shall be issued. sold, and delivered hereunder fully registered bonds. without interest coupons, dated April 1. 1994, in the respective denominations and principal amounts hereinafter stated, payable to the respective initial registered owners thereof (as designated in Section 11 hereof), or to the registered assignee or assignees of said bonds or any ponion or ponions thereof (in each case, the "Registered Owner", "Owner", or "owner"). The tenn "Bonds" as used in this Ordinance shall mean and include collectively the bonds initially issued and delivered pursuant to this Ordinance and all substitute bonds exchanged therefor, as well as all other substitute bonds and replacement bonds issued pursuant hereto, and the tenn "Bond" shall mean any of the Bonds. The Bonds shall be numbered R-l upward, shall be in the denomination of $5.000 each or any integral multiple thereof. and shall mature and be payable serially on Febr:uary 15 in each of the years and in the principal amounts, respectively as set forth in the following schedule: YEARS AMOUNTS YEARS AMOUNTS 1995 $ 195,000 2001 $ 1,055,000 1996 280,000 2002 965.000 1997 270,000 2003 1.100.000 1998 505.000 2004 1,075.000 1999 460,000 2005 915,000 2000 685,000 SECTION 3. INTEREST. The Bonds scheduled to mature during the years. respectively, set forth below shall bear interest from the dates specified in the FORM OF BOND set forth in this Ordinance to their respective dates of maturity or redemption prior to maturity at the following rates per annum: YEAR OF INTEREST YEAR OF INTEREST MATURITY RATE MATURITY RATE 1995 % 2001 % 1996 % 2002 % 1997 % 2003 % 1998 % 2004 % 1999 % 2005 % 2000 % Said interest shall be payable in the manner provided and on the dates stated in the FORM OF BOND set forth in this Ordinance. SECTION 4. CHARACTERISTICS OF THE BONDS. (a) Rej;!istration. Transfer. and Exchanj;!e: Authentication. The Issuer shall keep or cause to be kept at lhe principal corporate trust office of Texas Commerce Bank National Association. Houston, Texas (the "Paying Agent/Registrar") books or records for the registration of the transfer and exchange of the Bonds (lhe "Registration Books"), and the Issuer hereby appoints the Paying Agent/Registrar as its registrar and transfer agent to keep such books or records and make such registrations of transfers and exchanges under such reasonable regulations as the Issuer and Paying