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<br />ORDINANCE NO. ~OOD- ~3~q
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<br />ORDINANCE AUTHORIZING THE ISSUANCE OF $3,250,000 CITY OF LA PORTE, TEXAS
<br />GENERAL OBLIGA nON BONDS, SERIES 2000, AND ALL OTHER MA TIERS RELATED
<br />THERETO
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<br />WHEREAS, at an election duly called and held for and within the City of La Porte, Texas (the "City") on
<br />January 16, 1999, the duly qualified resident electors of the City authorized the City Council of the City (the
<br />"Council") to issue bonds of the maximum amount of $3,925,000 (the "1999 Authorization");
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<br />WHEREAS, the Council now deems it to be in the best interest of the City to issue $1,500,000 from
<br />Proposition 1 of the 1999 Authorization for additions to the City Hall (leaving $-0- in bonds from Proposition 1 to
<br />be issued in the future); $750,000 from Proposition 2 of the 1999 Authorization for replacement of Fire Station No.
<br />4 (South La Porte area) (leaving $-0- in bonds to be issued in the future); to issue $750,000 from Proposition 3 of the
<br />1999 Authorization for the replacement of Fire Station No.3 (Lomax area) (leaving $-0- in bonds to be issued in the
<br />future); and to issue $250,000 from the 1999 Authorization for the replacement of the San Jacinto Swimming Pool
<br />(leaving $-0- in bonds to be issued from Proposition 5 in the future); and
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<br />WHEREAS, the bonds hereinafter authorized are to be issued and delivered pursuant to Chapter 1251,
<br />Texas Government Code, as amended; Chapter 1331, Texas Government Code; as amended, and the Charter of the
<br />City;
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<br />NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE,
<br />TEXAS, THAT:
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<br />Section 1. AMOUNT AND PURPOSE OF THE BONDS. The bonds of City of La Porte are hereby
<br />authorized to be issued and delivered in the aggregate principal amount of $3,250,000, for the purpose of
<br />constructing additions to City Hall, replacement of Fire Station No.3 and Fire Station No.4, and replacement of the
<br />San Jacinto Swimming Pool.
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<br />Section 2. DESIGNA nON. DATE. DENOMINATIONS. NUMBERS. MATURITIES. AND INTEREST
<br />RATES OF BONDS. Each bond issued pursuant to this Ordinance shall be designated: "CITY OF LA PORTE,
<br />TEXAS GENERAL OBLIGATION BOND, SERIES 2000", and initially there shall be issued, sold, and delivered
<br />hereunder fully registered bonds, without interest coupons, dated March 15, 2000, in the respective denominations
<br />and principal amounts hereinafter stated, payable to the respective initial registered owners thereof (as designated in
<br />Section 14 hereof), or to the registered assignee or assignees of said bonds or any portion or portions thereof (in each
<br />case, the "Registered Owner", "Owner", or "owner").
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<br />The term "Bonds" as used in this Ordinance shall mean and include collectively the bonds initially issued
<br />and delivered pursuant to this Ordinance and all substitute bonds exchanged therefor, as well as all other substitute
<br />bonds and replacement bonds issued pursuant hereto, and the term "Bond" shall mean any of the Bonds. The Initial
<br />Bond shall be numbered 1-1 and the defmitive Bonds shall be numbered R-l upward and shall be in the
<br />denomination of$5,OOO each or any integral multiple thereof, shall mature and be payable serially on March 15 in
<br />each of the years and in the principal amounts, respectively as set forth in the following schedule, and shall bear
<br />interest from the date specified in the FORM OF BOND set forth in this Ordinance to their respective dates of
<br />maturity or redemption prior to maturity at the following rates per annum:
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