O-2001-2529 - Laserfiche WebLink

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. e ORDINANCE NO. J...col . .2.~ AN ORDINANCE ORDERING A BOND ELECTION; FIXING THE TIME, PLACE, AND MANNER FOR HOLDING THE ELECTION; ESTABLISHING POLLING PLACES; AND ORDERING OTHER MA TIERS RELATING THERETO WHEREAS, the City Council of the City of La Porte, Texas (the "City"), deems it advisable to call the election hereinafter ordered; and BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS THAT: Section 1. An election shall be held on February 2, 2002, 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: PROPOSITION 1 SHALL THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS BE AUTHORIZED TO ISSUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $7,700,000, 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 LA W 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 COUNCIL, FOR THE PURPOSE OF THE CONSTRUCTION OF A POLICE DEPARTMENT HEADQUARTERS AND EMERGENCY OPERATIONS CENTER, AND SHALL THE CITY COUNCIL BE AUTHORIZED TO LEVY AND CAUSE TO BE ASSESSED AND COLLECTED ANNUAL AD VALOREM TAXES ON ALL TAXABLE PROPERTY IN THE CITY IN AN AMOUNT SUFFICIENT TO PAY THE ANNUAL INTEREST ON SAID BONDS AND PROVIDE A SINKING FUND TO PAY SAID BONDS AT MATURITY? PROPOSITION 2 SHALL THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS BE AUTHORIZED TO ISSUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,500,000, 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 LA W 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 COUNCIL, FOR THE PURPOSE OF THE CONSTRUCTION OF IMPROVEMENTS TO THE CITY'S W ASTEW A TER TREATMENT PLANT AND SHALL THE CITY COUNCIL BE AUTHORIZED TO LEVY AND CAUSE TO BE ASSESSED AND COLLECTED ANNUAL AD VALOREM TAXES ON ALL TAXABLE PROPERTY IN THE CITY IN AN AMOUNT SUFFICIENT TO PAY THE ANNUAL INTEREST ON SAID BONDS AND PROVIDE A SINKING FUND TO PAY SAID BONDS AT MATURITY? PROPOSITION 3 SHALL THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS BE AUTHORIZED TO ISSUE BONDS OF SAID CITY, IN ONE OR MORE SERIES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $3,200,000, 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 J