O-1944-311 - Laserfiche WebLink

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IT IS FURTHER ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS: ~hat to pay the interest on said bonds and create a sinking fund with which to pay the principal as it matures, a tax at a rate sufficient for said purpose is hereby levied against all taxable property in said city for the year 1944 and for eac'h succeeding year' while said bonds or any of them are outstanding; And to pay the interest on said bonds and to create a sinking fund with which to p~ the principal at maturity, s~ch tax of and at the rate of twelve cents on eaoh one hundred dollars IX. IT IS FURTHER ORDAINED that, in addition to all oth43r rights, the holders of the refunding bonds hereby authorized are subrogated to all the r.ights held by the holders of the original warrants refunded by th,is issue of bonds. VIII. IT IS FURTHER ORDAINE:D that the Mayor of the City o:r La Porte s,hall be and he is hereby authorized to take and havEI charge of all necessary records pending investigation and ap- proval by the Attorney General and ahall have control of said bonds during said time. After the reoord shall h~e been ap- proved, the Mayor is author'ized to leave the bonds in the off'i.ce of the Comptroller', pending. their exohange for the original warrants, and pending their registration, whioh may be at one time or in installments. VII. The Comptroller shall not regis~er said, bonds except as and when there shall be surrendered to him said City of La Porte Warrants. aggregating the respective amounts of the bonds then to be registered. VI. . . .'- ... e .. e .