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<br />WMINARY OFFICIAL STATEMENT DATED MARCH.4
<br />RATINGS:
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<br />eno
<br />CD CD
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<br />,5 >-
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<br />or: CD
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<br />CD CD
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<br />Sor:
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<br />c 1ii :fi Optional Provisions
<br />, ~ ~:e;
<br />I ~ c,~ All Bonds maturing on or after February IS, 2003 are optional for redemption in whole or in part on February IS, 2002 or any date thereafter at par and accrued
<br />y l5 ~a. interest to the date fixed for redemption, Ifless than al' of the Bonds are redeemed at any time, the particular Bonds to be redeemed shall be selected by the City in
<br />:5 .a '5 integral multiples of $5,000 within anyone maturity, The registered owner of any Bond, all or a portion of which has been called for redemption, shall be
<br />~ S ~ required to present same to the Registrar for payment of the redemption price on the portion of the Bond so called for redemption and a new Bond in the principal
<br />;; :! 'l5 amount equal to the portion of such Bond not redeemed will be issued to such registered owner,
<br />lio;
<br />1: li!!! Deliverv
<br />CDO UI
<br />~ c:@ The Bonds are offered when, as and if issued, subject to approval by the Attorney General of the State of Texas and McGinnis Lochridge & Kilgore, L,LP,. Bond
<br />s8 B Counsel, San Antonio, Texas, Definitive Bonds are expected to be available for delivery on Dr about April 14, 1994,
<br />CI.lj!CD
<br />-'0 en
<br />'~'6 ~ This Official Statement was prepared under the direction of Moroney. Beissner & Co,. Inc" Financial Advisors to the City, Moroney. Beissner & Co,
<br />~ :::: Inc, is not a member of the Underwriting Group,
<br />or: CD
<br />~_"C1
<br />l! l5 5 MASTERSON MORELAND SAUER WmSMAN, INC.
<br />'--c
<br />~'i8 RAUSCHER PIERCE REFSNES, INC.
<br />&:SrJ
<br />en li) ~ · Subject to change,
<br />~:a! .. The initial yields will be established by and are the sole responsibility of the Underwriters, and may subsequently be changed,
<br />
<br />Insured
<br />G.O, Revenue
<br />Bonds B!m!!
<br />
<br />In the opinion of Bond Counsel, interest on the Bonds is excludable from gross income for federal income tax purposes under existing law, and the Bonds
<br />are not private activity bonds, See "TAX /dATTERS" herein for a description of Bond Counsel's opinion, including alternative minimum tax
<br />consequences for corporations, The City designated the Bonds as qualified tax.exempt obligations, See "Qllalif~d Tax-Exempt Obligations",
<br />
<br />Moody's -
<br />S&P's -
<br />
<br />ISSUE
<br />
<br />NEW
<br />
<br />Series 1994
<br />
<br />April 1,
<br />
<br />The General Obligation Bonds constitute obligations of the City of La Porte, Harris County, Texas (the "Cityj, payable as to principal and interest from the
<br />proceeds ofa continuing, direct 8IUlual ad valorem tax, within the limits prescribed by law, levied upon all taxab'e poperty located within the City, The Bonds are
<br />being issued pursuant to Articles 717k and 823, Vernon's Texas Civil Statutes, as amended, and an ordaninance adopted by the City Council of the City
<br />authorizing the issuance and sale of the Bonds (the "Bond Ordinance"),
<br />
<br />as shown below
<br />
<br />15,
<br />
<br />February
<br />
<br />Due:
<br />
<br />CITY OF LA PORTE,
<br />(Harris County)
<br />57,505,000*
<br />General Obligatio~,Refunding Bonds, Series 1994
<br />and
<br />52,490,000*
<br />Water and Sewer System Revenue Refunding Bonds,
<br />
<br />TEXAS
<br />
<br />GENERAL OBLIGATION 1I0NDS
<br />
<br />1994
<br />
<br />Initial Date:
<br />
<br />Interest on the Bonds will be due on August IS, 1994, and each February IS and August 15 thereafter until maturity, The Bonds will be issued in fully
<br />registered fonn in integral multiples of$5,000, and principal and semi8IUlual interest will be payable by Texas Commerce Bank, National Association, Houston,
<br />Texas, the paying agent/registrar (the "Registrar"), Principal of the Bonds will be payable to the registered owner at maturity or redemption upon presentation
<br />of such Bonds to the Registrar, Interest on the Bonds will be payable by check, dated as of the interest payment date, and mailed by the Registrar to registered
<br />owners as shown on the records of the Registrar as of the fifteenth day of the month nell.1 preceding each interest payment date,
<br />
<br />%
<br />%
<br />%
<br />%
<br />%
<br />
<br />Yield or
<br />Price"
<br />
<br />Maturitv
<br />
<br />2001
<br />2002
<br />2003
<br />2004
<br />2005
<br />
<br />%
<br />%
<br />%
<br />%
<br />%
<br />
<br />Rate
<br />
<br />Amount.
<br />
<br />,055,000
<br />965,000
<br />1,100,000
<br />,075,000
<br />915,000
<br />
<br />February 15
<br />Maturity Schedule
<br />
<br />$
<br />
<br />%
<br />%
<br />%
<br />%
<br />%
<br />%
<br />
<br />Yield or
<br />Price"
<br />
<br />Maturitv
<br />
<br />1995
<br />1996
<br />1997
<br />1998
<br />1999
<br />2000
<br />
<br />%
<br />%
<br />%
<br />%
<br />%
<br />%
<br />
<br />Rate
<br />
<br />Amount.
<br />
<br />$195,000
<br />280,000
<br />270,000
<br />505,000
<br />460,000
<br />685,000
<br />
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