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<br />THER'PFORE, BE IT ORDAI ~mD EX 'rd"": CI'IT COUl'lCIL OIi' THE OITY
<br />
<br />OF LA PORTE:
<br />
<br />Section 1. That the warrants of ssid City, to be called
<br />" Ci ty of La Porte Refundi ng ~~arrant s, Seri es 1935, II be i s::lued
<br />
<br />under and by virtue of the Constitution and Laws of the State
<br />of Texas, including Ohapter 163, Acts 42nd Legislature, 1931,
<br />to the amOl1nt of Thirteen thousand Eight Hundred and Eig,hty-
<br />Seven and <9J!100 (,ji13,887.l9'l) Dollars, for the purpose of
<br />refunding, canceling and in lieu of the City of La Porte
<br />Six fer Cent Sew,er Warrants, Series 1931, dated August 15,
<br />. 1931, and City of' La Porte Six Per Cent Stree,t Paving
<br />Warrants, Series 01.'.'1927, dated October 10,1927, and City of
<br />La Porte Funding Warrants, dated July 25, 1916.
<br />
<br />'l
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<br />Section 2. That said warrants sr.Lal1 be numbered consecuti ve-
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<br />ly from 1 to 29, both inclusi ve; shall be of th'e denomination of
<br />Ftve Hundred (~500.00) Dollars each, except Warrant No. 1
<br />
<br />wh:bch mall be in tlle denomination of '1'wo Hundred and 'r~'ienty-F'i. v~
<br />and 'aa/lOO (~225.:S9) Dollars, and Warrant rJo. 2 which snaIl be.
<br />in the denomination of One Hundred and Sixty-Two (.~162 .1.20)
<br />and twenty -ct.YiC!)i,;~ents
<br />Dollars,/ aggrega tM:lg 'l'hirteen Thousand Eien t Hundred and
<br />Eighty-Seven and ;g,J/100 (.yi13,887 .~1') Bollars.
<br />Section 3. That they shall be dated the lOth day of January,
<br />1935, and shall becolJle due and payable on January 10, 1950,
<br />,
<br />vdth option of redemption on any interest payment date~
<br />
<br />Section 4. That said warrants shal~ bear interest aL the
<br />rate of Four (4%) per cent per almUlll fr~m date to July 10,
<br />1945, and shall bear interest at the rate of Five (5%) per
<br />
<br />,
<br />cent per annUm thereafter during the years 1946 to 1950, both
<br />inclusi ve, interest payable on January 10, 1936, and semi-
<br />
<br />annually thereafter on the 10th day of July and the lOth day
<br />
<br />of January of each year.
<br />Section 5. That the principal of alm interest on said
<br />
<br />warrants shall be pa1Ja~le in lawful money of the United
<br />States of America upon presentati on and surr ender of warrant or
<br />proper coupon at ~~nufacturers ,Trust Company, New York, N.Y.
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