O-1998-2298 - Laserfiche WebLink

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e . ORDINANCE NO. 98-2298 AN ORDINANCE ORDERING A BOND ELECl'ION~ FIXING THE TIME, PLACE, AND MANNER FOR HOLDING THE ELECl'ION~ ESTABLISHING POLLING PLACES~ AND AUTIlORIZING OTHER MAlTERS IN RELATION THERETO WHEREAS. the City Council of the City of La Porte, Texas (the .Cityn), deems it advisable to call the election hereinafter ordered~ and BE IT ORDAINED BY THE CITY COUNCn. OF THE CITY OF LA PORTE, TEXAS THAT: Section I.. An election shall be held on Janwuy 16, 1999, in the City, which date is 45 or more days from the date of this ordinance, at which election the following propositions shall be submitted in accordance with law: PROPOsmON 1 SHALL THE CITY COUNCn. OF THE CITY OF LA PORTE, TEXAS BE AUTIlORIZED TO ISSUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,500,000, MATURING ON A DATE NOT MORE THAN 30 YEARS FROM THEIR DATE OR DATES, BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED, AND BEING SOLD AT SUCH PRICES, ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCn., FOR THE PURPOSE OF CONSTRUCl'ION OF AN ADDmON TO CITY HALL, AND SHALL THE CITY COUNCn. BE AUTHORIZED TO LEVY AND CAUSE TO BE ASSESSED AND COLLECI'ED ANNUAL AD VALOREM TAXES ON ALL TAXABLE PROPERTY IN THE CITY IN AN AMOUNT SUFFICffiNT TO PAY THE ANNUAL INTEREST ON SAID BONDS AND PROVIDE A SINKING FUND TO PAY SAID BONDS AT MATURITY? PROPOsmON 2 SHALL THE CITY COUNCn. OF THE CITY OF LA PORTE, TEXAS BE AUTIlORIZED TO ISSUE BONDS OF SAID CITY. IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $750.000. MATURING ON A DATE NOT MORE THAN 30 YEARS FROM THEIR DATE OR DATES, BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUIlIORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED. AND BEING SOLD AT SUCH PRICES. ALL AS SHALL BE DETERMINED WITHIN THE DISCRETION OF THE CITY COUNCn.. FOR THE PURPOSE OF REPLACEMENT OF FIRE STATION NO.4 (SOUIll LA PORTE AREA. AND SHALL THE CITY COUNCn. BE AUTIlORIZED TO LEVY AND CAUSE TO BE ASSESSED AND COLLECTED ANNUAL AD VALOREM TAXES ON ALL TAXABLE PROPERTY IN THE CITY IN AN AMOUNT SUFFICffiNT TO PAY THE ANNUAL INTEREST ON SAID BONDS AND PROVIDE A SINKING FUND TO PAY SAID BONDS AT MATURITY? PROPOsmON 3 SHALL THE CITY COUNCn. OF THE CITY OF LA PORTE. TEXAS BE AUTIlORIZED TO ISSUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $750.000. MATURING ON A DATE NOT MORE THAN 30 YEARS FROM THEIR DATE OR DATES. BEARING INTEREST AT A RATE OR RATES NOT TO EXCEED THE MAXIMUM AUTHORIZED BY LAW AT THE TIME OR TIMES SUCH BONDS ARE ISSUED. AND BEING SOLD AT SUCH PRICES, ALL AS