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<br />. . <br /> <br />,e <br /> <br />ORDINANCE NO. 340_ <br /> <br />AN ORDI!~NCE APPROPRIATING rfWO P~R CENT. (2%) OF THE <br />WATER AND SEHER COLLECTIons FO~ THE PU-qPOSE OF PAYING THE IN- <br />TE~ST ON, AND A SINKING FUND FOR, THE RED>>~P~IION O!<' "CITY OF <br />LA PORTB WATER SYST~~ REFUNDING BONDS SERIES 1946"; REPEALING <br />ORDIliANCE NUMBER 335 AND DECLARING AN MJlERG!f;NCY. <br /> <br />... ".... <br /> <br />WHEREAS, the City of La Porte has heretofore issued <br />City ot La Porte Water System Refunding Bonds, Series 1946, in <br />the sum of Twenty-Two Thousand. Dollars ($22,000.00), suoh bonas <br />are tax b~nds but with the reservation that the City may pay tne <br /> <br />same out of any other revenues; and <br /> <br />- <br /> <br />WHEREAS, the City wishes to provide an interest and <br />sinking fund necessary to pay said bonds and inter~st thereon <br />out of the revenue collectea from the water system; and <br />WHEREAS, the City has passea Orainances ra1s1ng tne <br />water raGes and charges and fixing monthly sewer oharges; and <br />WHEREAS, the Boara of Commissioners have determined <br />that two per cent. (2%> of all revenue.collectea for water and <br />sewer during the coming fiscal year will be sufflcient to pro- <br />vide an adequate interest and sinking fund for said bonds; <br />NOW, TIlEREPO~, BE IT ORDAINED BY THE BOARD OF COM- <br />MISSIONERS OF THE Cl'ry OF LA POitTE, T~S, 'that there is h~re- <br />by appropriated the sum of two per cent. (2%) of all water and <br />sewer revenue collected during the fiscal year ending June 3U, <br />1948, for the purpose of paying the current int~rest on, and <br />to provide the necessary sinking fund for, the said Twenty-Two <br />Thousand Dollars ($22,000.UO) City of La Porte Water System <br />Refunding Bonds, Series 1946, and the same, when collected, <br />shall be applied to the purpose named. <br />Ordinance number 335 passed by the Board of Com- <br />missioners May 29, 1947, is hereby expressly repealed. <br />An emergency exis'ts constituting an imperative pub- <br />lic necessity that the rule requiring ordinances to be read a~ <br />three several meetings be suspended. and thJ.s Ordina.nce take ef- <br />fect and be 1n force from and after its passa.ge and approval, <br />and it is so ordained. <br /> <br />./--.......... <br />\, <br /> <br />---- ...... <br />, , <br /> <br />e <br /> <br />/ <br /> <br />e <br />