O-1948-357 - Laserfiche WebLink

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.e e February, 1948, on the following l1ropos1tionl!l: lROPOSJ~~0~~P9. ~ Shall the City Commil!l!l1on ot the City of La. Porte, Texas, be authorized to issue $200,000.00 aeVenl.le Bonds ot said City. me.turing ser:!.ally or otl1erwlee ovel' S perlod ot years not to exceed thirty (30) years ~rom their d&te, bearing interest at a rate not to exceed fivo (5%) per oent per annum, for the purpose ot constructing exten.slons and improvements to the Waterworks System of said C1.ty; and to provide for the pa.yro1ent of the prin- cipal of and interest on suoh bonds solely by pledging the net revenues derived from the operat1on. 01' eald Waterworks System, ., or in the event th.at the City Comlll.1e.sl~n be author1zed to issue Sewer System Revenue Bonds as subnutted in Proposition No.2, to lBBue c,omblned '\1.~terwoX'k$ and Sewer System Revenue Bonds in the mo.ximum amount or $500,000.00, e.nd to pledge solely the net revenues ot the oonb1ned i.J'aterworks and Sewer SY3tem to th.e p:l~rment of' the pr1nelpa.l of and lnterest on 3aid combined Water- works and Sever Sy-stem Revenue Bonds. 1'RP-!~'i.IX1()'N NOJJ_ 8Mll the C1.tjl' Commission of the City ot la Porte, Texas, be a.uthorized to iSDue $300,000.00 Revenue Bonds or ~ald City, maturing serially or other'W'is8 over e.. period of years not to exceed thirty (30) years from .their date, bearing interest at a :rate not to ex~eed five (5';) per cent per annum, tor the pur- pose ot con.structing extensions and :1.mproveDtents to the Sewer System o~ said Clty; And to provldo tor tho payment ot the prin- c1pal of and interest on such bonds nolely by pledging the net revenueR der1 ved from the operation of aaid Sewer System. or in the event that the City Commission be authorized to issue Water- works System Revenue Bondn as submitted in Proposition No.1, to 1ssue oombined Waterworks and Sever Syatam Revenue Bonds in the maximum amount or $500.000.00,t and to pledge solely the net revenues of the combined WatewOl'ks and Sever System to the pay- ment or the prinoipal ot and interest on said combined Waterworks and Sever System Revenue Bonds. "\.ll