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<br />'W'arrants shal,l b~ ,lss~ed: only ,in lieu of .EJ:a~~ va.lid c.la1m, ~pon sur-
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<br />retLd,er',and ca.ic;e$.at,~q~ Qf ';:the, WarrE3.Xlt,s, ~ssu~d to ev~de'nce suoh clalms.
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<br />IT ::~S:~iURT~ROR~AINED, tliat In.: t'he. <3vent 1 t shall not be
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<br />t eDlpl at ed, th:en'" ~lnE\~ch ,e:Vr~nt, such amount .of Oi 1;y of LaP orte
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<br />, 'Fund~ng ,Warrants ~s ,s:Q:all ~ot ~e, supported ~d ba.~ed upon claims duly
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<br />, approved by .t'he: Oi1ty', :OounC1i, s~all' be canc,elled and, destroyed, the
<br />; numb:ers '~d a~O~~::~f'.~suOh'~arrants:so c'anoel~ed and dest.royed, to be
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<br />, made' a. ,m~tte:r;'of~ec():~:d Upo1;1 the. :Minutes of the Oity Oouneil'~
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<br />IT~S:~:!tJRT,HE.;R, ORO,~INED by :the Oity Oounoil of the, Oi ty 'of.
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<br />: LaP~rteJ 'Texaij.,.tpat, t;o pay:the interest :onsald Warrants ,and create
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<br />, ',a. s1nkin@; fun4.with, wh.ioh .to p'ay the ,pr1nc1pa~ .as '.it matur~~, a tax
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<br />"at'a ra.te suff.Ud~,nt;f'01' s~~dpurpoBe on e,a.oh,'.lOO:~OO valuation of
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<br />,&;11 taxa~le P,topef:ty, ~n sai:~ 01 ty, 1s here~y' 1~:y1ed and shall be
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<br />, a:rmu~ly :leV1~:di~o~"'~,~~d :.,pro~~r~y:,' ~4';aJ;lnu~ilY:"'as~essed,, an~';'oollected
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<br />,;...'~ -t'\, ,~, ~ent~:, on:~~aQh .~lOq'~OO 'V.~1ua.~:19ri of all taxable property
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<br />,,' i31 ,$a:ld ,C::a;ty, ~I~' h.:re "~Ow :ley1edfor' t.he year 1929 and f:or eaoh
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<br />'. '",:s1JJO~eed1ngye~r .w,~l~,: :~ald' !arrants.or'~Y,'9f them ar~ Qutstll-Ildingj
<br />"a;l1d the same $haii be :assessed 'and ooil~oted' for'the ourrent ,year and
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<br />, .. ::a.nnually there,aft,r, ,o:~' so . muoh thereof: ~ . may be necessary for said
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<br />'purpose, and $.pp].~ed ,t9 the ::,putpQs.e. named. ::
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<br />BE I~ Fi.mTHE~ ORDAINED that' the Kayor of the Oity Of.LaPorte
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<br />be and he' is:hel'e~y'~uthor1zed and. dlreote~to take and have oharge
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<br />of S~id ~ilr,~'t~~S ;a.n! he, s~l hs.v~:aU~bO~itY tOdeHve_r.
<br />:ffe,s.. 1- to2'l..ino'. ff 'sE;Lid, :Wal"rantsaggregatlng" 2l.G)()O.ee.;. to
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<br />J.:'~:.,Phll-1;LPQ:j' 'lll~~eB'tment':,O~tt1pa;ny:~' 'wh:en :tbe~Hotig1na.1 Warrants, herein
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<br />'lj~sted shall ~~ve :1;been:'~ s~r~~'~de;.re9 t'O'~~,~i>~~' C;g~lied;. and shall d~...
<br />11\1er the rema~nd~rof;is~ld::FUIja.~ng,;Warrant~, 1:nins,t,allments, under
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<br />. : Th.e ,fac~;.t~~l.:iflibe',~,fun~1:ng:o~'the hereln abov:e de'scribed
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<br />:1ndebtedne,ss V;111,jPut' the: 0 ~ity of 'LaPorte on ac~sb.-:,~a~isj' con-.
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