O-1929-229.5 - Laserfiche WebLink

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. ,e AND WHEREAS, it will be neoessary to i8sue Warrants against ',~he Oity in payment of olaims inourred for lawful city purposes, und no funds are available at this time to pay suoh warrants, nor 1;0 pay the warrants outstanding already and hereinbefore llsted, AND WHEREAS, J. R. Phillips Investment Oompany has agreed 1iO purohase end take up from the holders thereof, all Warrants 1.egally lssued and hereinbefore 11sted, and all Warrants to be I,egally issued for purposes hereinbefore stated to the amount of .:25,000:-00 (Which amount inoludes said Warrants now outstanding and those hereafter to be lss.ed); and has further agreed to aocept in lieu thereof and in full satisfaotion of said,Warrants so purchased or to be purchased by them ..OITY or LaPORTE Jtm~ING WARRANTS', bearing interest at the rate of six per oent per annum; 'l'BEREFOREf BE IT ORDAIDD BY 'I'm: OITY OOUNOIL or THE OITY Oir LaPORTE, 'l'EXAS: '!'hat the Warrants herein lis,ted, aggregating the sum of ';31, S4S~08 be and the same are hereby in all thlngs adjudicated and ht,ld and declared to be valid, subsisting, binding and unsatisfied ol)ligatlons against the Oity of LaPorte, and the aots of the Oity oj~ficer8 in incurring said indebtedness and in the issuanoe of sald Wl~rants are hereby in all things ratified and confirmed~ That additional claims to the extent of '3j'454r~9a duly allproved for or on account of indebtedness inourred for lawful oi ty p~~oses, 8hall be evidenoed by the issuanoe of oity warrants against s8.1d ci t1 ~ That Warrants of sa1d 01 ty be oalled I:OITY OF LaPORTE r~NDINO WARRAB'1'S~1 be lssued under and by vlrtue of the Oobstltut10n and laws of the State of Texas, inoluding Artiole a27, Revised 01vll Statutes of 1925; for the purpose of fund1ng the Warrants hereln 11sted, upon canoellation and surrender of said Warrants and for the further purpose of fundlng Warrants of this oity issued for lawful