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<br />ORDINANCE NO. ~:l.t
<br />AN 0 IDIKaNCE APPROPRIATING FIFTEEIJ PE~ CE:i.\TT. (151&) O?
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<br />!r/ATER COLLECTIeNS FOR THE PlJRPOSE OF PAYING THE J]~TEREST ON, AHD A
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<br />!!3INKHIG FUKD :fOR, THE RED~,lPTION OF "CITY OF LA PO.:tT:E ';:l.ATK~ SYSTEM
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<br />jiREFUNDING BOND~l SE3IES 1946", AND DECLARIl\!G AN m1:ERGENCY.
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<br />'I f:HE~3.. the City of La Porte has heretofore issued Con-
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<br />:itractor I s l~:arrant s in the sum. of T1l1enty-Two Thousand Dollars
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<br />i~22,COO.OO) fo~ water system improvements; and
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<br />:1 V!HE~S.. the City of La Porte contemplates and intends to:
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<br />ilrefund certain warrants and to issue City of La Porte Water System
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<br />,jRefunding BondH, Series 1946, in the au'll of Twenty-Two Thousand
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<br />;!Dollars (~;22.. 000.00), such bonds
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<br />to be tax bonds but with the reser~
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<br />iivat10n that tht3 City may pay the same out of any other revenues;
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<br />;:e.nd
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<br />~v.HER3AS, the City wishes to provide ~n interest and sink-!
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<br />/ing
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<br />:ithe
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<br />fund necessary to pay said bonds and interegt thereon out of
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<br />revenue collected from the water system;
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<br />NO~, THEREFORE, BE IT ORDAINE~ BY THE CITY COUNCIL OF THE
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<br />i:CITY OF LA PO~~E, TEXAS that there is hereby appropriated the sum
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<br />,!of fifteen per cent. (15%) of all water revenue collected during
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<br />'ithe fiscal year' ending April I.. A. D. 1947, for the purpose of pay-:
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<br />:~ing the current interest on, and to provide the necessary sinking
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<br />:ifund for, the t1aid Twenty-Two Thousand Dollar (~~22,000.00) City of .
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<br />;iLa iorte Water System Refunding Bonds, series 1946, and the same,
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<br />;when collected, shall be applied to the purpose named.
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<br />An emergency exists constituting an imperative public
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<br />:,necessity that the rule requiring ordinances to be read. at three
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<br />;~severa1 meetings be suspended and this ordinance take effect and be.
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<br />llin force from and after its passage and approval, and
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<br />it is so
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<br />Passed and approved this the I~~day of Octobor, A. D.
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<br />\ 946.
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<br />. ATTZST :
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<br />. Secretary
<br />If exas
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