O-1946-327 - Laserfiche WebLink

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valuation of taxable prqperty in said city is hereby levied for the year 1946 t and t he Kame, or so much there of as may oe ne cessary, and as much more as may be necessary, is hereby levied fat" each succeed- ing year vthile said balds or any or t 119m are outstanding; And there shall be calculated each year while any of saici bonds are out stand ing and unp:t.id what rate of tax is necessary to prc)- vide current int erest and the required anount of principal for Sl ch year, and a tax at such rate on each one hundred dollars valuation oi' e taxable property in said city within the limits P9rmitted oy the Con-, wti tu tion and IaV1S of Texas, shall be levied, assessed and collected during each of such years, and such tax of and at the rate so found to be necessary far each of such years is hereby levied, and is ordered to be levied, assessed and collected for such purpose; IT IS FURTHER ORDAINED BY THE CITY CODNCIL OF TEE CrTY OF LA PORTE, TEXA.S: That to pay the interest on said bonds and create a sinking fUnd with wlIi.ch to pay the principal as it II8 tures, a tax at a rate sufficient for said purpose is hereby levied against all taxable property in said city for the year 1~6 and for each succeed.- ing year while said bonds or any of them are au tstanding; And to pay the interest on said bonds am to create a siriking fund with which to pay the principal at maturity, smh tax of and at the rate of thirteen oents on each one hundred dollars e x. ~ IT IS FURTHER CRDAlNED that the Mayor of the City of Ia Porte shall be and be is hereby authorized to take and: have chnrge of all neoessary records pending investigation and approval uy the Attorney General and shall have control of said bonds d\D:'ing said time. After the record shall have been approved, the l.JIayor is aut.b.c;r- ~ ized to leave the bonds in tbe office or the Comptroller, pending their eXchange for the origi 18.1 warrants J and ];ending their regist:ra- tion, which may l:e at one time or in. installments. IX. IT IS FURTHER ORDAINED that, in addit ion to all other rights, the holders ot the refunding bonds hereby authorized are subrogated to all the rights held, by the holders or the original warrants refunded by this issue of bonds. VIII. .... .. e . . e