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<br />"'AN OHDI NANCE #.,2 S' 6
<br />BY THE CITY COuNCIL OF 'EHE CI'l'Y 0]' LA POOTE, 'I'EXAS,
<br />AUT~1ORI~I NG THE I SSlJANGE 01<' 'IvARRANT.::> FOH THE PRIIJCIPAL
<br />SUI.~ OF ~13,887 .9;]), FOR THE PURPOSE OF' PAYI l~G OF}', CAH-
<br />CELLNG AND IN Ll~U OF A LIKE JUiIOUN'l' OP TdE LEG.u.LY
<br />ISSDED. :.ND OUTS'rAlmIl~G WARR.AJ.~J:'::i 01i' :;)AID CIrl'Y, ::iAID
<br />OUTSTAi~DIG(J} WJL\R4\1~TS bEIlm as FOLLO/vS: CI'J.'Y OP LA
<br />P~TE SE~ER WARRAlJT::i, SERIES 1931, DA1ED AUGUST 15, 1931;
<br />CITY OF LA POR'I'E STREET PJlVIl~(! I'vARRANrs, SERI!!:S 01i\
<br />1927, DATED OCTOEER 10, 1927,. AND CITY OF LA PCRTE FUNDI~I~G
<br />'iwARRANTS, DA'rED JULY 25, 1916, AtiD PROVIDING FOR 'l'dE
<br />LEVY, ASSESSJ\.ENT AND C OLLEGTIOH OF A TAX ~'~IT~iIN 'l':IE
<br />LDd'rS OF' SAID CITY 1ZJ PAY T.lE I N'l'EREST Ol~ AND CREATE A
<br />SINKING FllND FOR TaE REDEr.lPTION THEREOP, AND PRESCHIBlhG
<br />THE BORII. OF BOND, AIm DECLARI NG AN ElY.ERG1?NCY."
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<br />WHEREAS, by an ordinance of' the Oi ty Council of' the City of
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<br />La Porte, Texas, passed 011 the 18th day of August, 1931, the ."
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<br />s,aid City. of La Porte legally issued its "City of La Porte
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<br />Sewer Wl;i.rrants, Series 1931," in the amount of ;yi9, 225.69,
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<br />bearing si,x per. cent interest, .01' which issue there are now
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<br />outstanding and unpaid warrants in the aggrega te a niount of
<br />$9,225.69; and
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<br />vmEREAS, by an ordinance of the City Council of' the City of
<br />La Porte, Texas, passed on the lOth'day of Octo~er, 1927,
<br />the said City of La Porte legally issued its "City of La Porte
<br />Street Paving Warrants, Series of 19.a7, in the amount of
<br />$4, 162.22, bearing six per cent interest, of which issue there
<br />are now outstanding and unpaid warrants in the aggregate
<br />amount of' ~2,162.22; and
<br />WHEREAS, by an ordinance of.the City Council of the
<br />City of La Porte, Texas, passed on the 24th d~y of JUly,19l6,
<br />the, se.id City of ,La Porte issued. its "Ci ty of'. La Porte Funding
<br />Wa~ra.nts," in the amount of <jj>lO,OOO.OO, bearing six per ce~t
<br />~ interest, of Vlhi ch issue there are now outstanding and unpaid
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<br />warrants in the agg'rega te amount ,of ojii2~~OO.OO; and
<br />WHEREAS, the City Councilor the City of La Po~te
<br />affirmatively rinds that all of ~~~~above described warrants
<br />were issued prior to the effective date of Chapter 163, Acts
<br />,42nd Legislature, 1931, or were issued under eontracts made
<br />before said law became effective, and the City Council f'urther
<br />affirmatively finds that it is necessa~, tqat said liiarrants
<br />be refunded in order to relieve a default in the payment of
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<br />principal and interest; and that new ~~rants be ussued in
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<br />:Lieu thereof;
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