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<br />~ <br /> <br />e <br /> <br />e <br /> <br />. :. 1 . : I . <br /> <br />LA PORTE AREA WATER AUTHORITY <br />APPLICATION FOR APPROVAL BY TEXAS WATER COMMISSION <br />OF AUTHORITY'S PROJECT AND BONDS <br /> <br />t' <br />..., <br /> <br />"0- <br /> <br />TO THE HONORABLE TEXAS WATER CO~~ISSION: <br /> <br />La Porte Area Water Authority (the "Authority") in <br /> <br />Harris County, Texas, files and presents this application <br /> <br />'- <br /> <br />pursuant to Section 54.516 of the Texas Water Code, and re- <br /> <br />quests the Commission to take such action thereon as provid- <br /> <br />ed by said Section and other appropriate laws of this State. <br /> <br />The Authority seeks approval of $9,800,000 aggre- <br /> <br />gate principal amount of its revenue bonds (the "Bonds"), <br /> <br />to be issued without the holding of an election pursuant to <br /> <br />the special act creating the Authority, Chapter 729, pages <br /> <br />2,678 et seq., Acts of the 67th Legislature of the State of <br /> <br />Texas, Regular Session, 1981, (the "Act") for the purpose of <br /> <br />(i) purchasing an undivided interest in the Southeast Water <br /> <br />Purification Plant (the "Southeast Plant") ~nder construc- <br /> <br />tion by the City of Houston, Texas, and paying expenses <br /> <br />incidental thereto, (ii) paying the costs of acquisition and <br /> <br />construction of a transmission system and a distribution <br /> <br />system to transport water from the Southeast Plant to the <br /> <br />customers of the Authority and (iii) paying such other <br /> <br />expenses of the Authority as may properly be paid from the <br />proceeds of the Bonds. The Bones will bear interest at a <br /> <br />net effective interest rate not exceeding the maximum rate <br />