O-1948-357 - Laserfiche WebLink

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e . sald electlon and determining the specific authority of the City to issue said revenue bondsJ and WHEREAS, said above mentioned election did authorize the issuance of combined Waterworks and Sewer System Revenue Bonds and the pledg1ng of the net revenues ot the combined Waterworks and Sever Syst em to the payment of said bonds J and WHEREAS, the City Commission now deems it advisable and to the best ~terest of said City that of the bonds so author- ized at said election only $250,000.00 of bonds should be iS8ued at. this time, and that said bonds in the amount of $250,000.00 should be issuocl 88 combined Waterworks and Sever System Revenue Bonds; and WHEREAS. it 1s now necessary and proper that the City Commission prooeed with tlle issuance ot 8ueh revenue bo~ds; THEREFORE, BE IT ORDAINED BY THE OITY COMMISSION OF TllE CITY or IA POR'l'B, TEXAS: I. , \ That for the purpose of constructing extensions and improvements to the waterworks system and the sewer system ot the City ot Ia Porte, Texas, and pursuant to the Constitution and Statutes ot the State of Texas, including partioularly Artioles 1111 - 1118, both inclusive, of the Revised Civil Statutes of 'lexas, 1925, 8S amended, and in accordanoe with the election held tor that purpose, there shall be issued CITY OF LA PORTE WATERWORKS AND SEWER SYSTEM REVENUE BOWS, SERIES 1940, in the prinoipal aggregate sum ot Two Bund1'ed and P1f'ty 'l'houoand ($250,000.00) Dollars, to be numbered from One (1) to Two Bundred and F1.fty (250), inolusive, in the denomina- tion ot ODe Thousand ($1,000.00) Dollars each) ot which $40,000 shall be expended tor the purpose ot construct1nS extensIons and improvements to the vaterworks system, and. $210,000 shall be expended tor the purpose ot oonstruoting extensions and improve- ments to the sever system. V\ '.'