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<br />ORDINANCE NO. ~ (1) 2 . iSUiJ,
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<br />ORDINANCE AUfHORIZING THE ISSUANCE OF $5,400,000 CITY OF LA PORTE, TEXAS
<br />LIMITED TAX BONDS, SERIES 2002, AND ALL OTHER MATTERS RELATING THERETO
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<br />WHEREAS, at an election duly called and held for and within the City of La Porte, Te~s (the "City") on
<br />February 2, 2002, 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 ofSl6,300,OOO (the "2002 Authorization");
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<br />WHEREAS, the Council now deems it to be in the best interest of the City to issue $3,500,000 :from
<br />Proposition 2 of the 2002 Authorization for the construction of improvements to the City's wastewater treatment
<br />plant (leaving $-0- in bonds from Proposition 2 to be issued in the future); and to issue $1,900,000 :from Proposition
<br />4 of the 2002 Authorization for the relocation of Fire Station No.2 and the renovation of old Fire Station No, 2 for
<br />emergencr medical services (leaving $-0- in bonds from Proposition 4 to be issued 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 $5,400,000, for the purpose of
<br /><;.on.stru<:.ting im~rovement!! to the City's wastewat.er and ~atment. plant ($3,500,000) and relocating Fire Station
<br />No, 2 and renovating the old Fire Station No, 2 for emergency medical services ($ 1,900,0(0).
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<br />Section 2, DESIGNATION. 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 LIMITED TAX BOND, SERIES 2002", and initiall~ there shall be issued, sold, and delivered hereunder
<br />fully registered bonds, without interest coupons, dated July 15,2002, in the respective denominations and principal
<br />amounts hereinafter stated, payable to the respective initial registered owners thereof (as designated in Section 14
<br />hereot), or to the registered assignee or assignees of said bonds or any portion or portions thereof (in each case, the
<br />"Re~istered Owner", "Owner", or "owner"),
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<br />ThC<. tC(.I1ll "Bonds" as 1JSed in this Ord!nance shall mCWl and inc1ucle cpllectively 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 ap.d rel!lacem<'-lt bonds issued p'ursuant hereto, and the term "Bond" shaH mt;aIJ any of the Bonds, The Initial
<br />Bond shall be nwobered 1-1 and the definitive Bonds shall be mnnbered R-l upward and shall be in the
<br />4.enomin~tion of $5,000 each or any intel!!al multiple thereof, shall mature and be I!a~ble serially on March 15 in
<br />each of the years and in the principal amounts, respectively as set forth in the foHowing schedule, and shall bear
<br />interest from the date sl?ecified in the FORM OF BOND set. forth in this Or4inan.ce to their respective dates of
<br />maturity or redemption prior to maturity at the following rates per annwn:
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<br />lRemainder ofp'age intentionally left bl3,Dk)
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