O-1949-377 - Laserfiche WebLink

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e e e BE IT ORDAINED by the City Commission of the City of La Porte, Texas: Section 1: That the bonds of the City of La Porte, Texas, be is- sued in the principal amount of $25,000, to be known and desig- na ted as "CITY OF LA PORTE GARBAGE' INCINERATOR BONDS 11, for the ,/",---... acqu~sition of a capital project, to-wit: constructing a garbage disposal incinerator, under and by virtue of the Constitution and laws of the state of Texas, particularly Chapters 1 and 7 of Title 22, Revised Civil statutes of Texas, 1925,' as amended, and the City Charter of said city, particularly Article VI thereof. - Section 2: Said bonds shall be dated May 10, 1949, shall be numbered from 1 to 25, both inclusive, shall be in the denomination of $1,000 each, aggregating $25,000, and shall becrome due and pay- able on the 10th day of May in each of the years and in the res- pective amounts shown in the following schedule, to-wit: Bond Nos. Maturity Amount 1 - 2 May 10, 1950 $ 2,000.00 3 _ 1~ " II 1951 2,000.00 5 - 6 11 " 1952 2,000.00 7 - 8 " " 1953 2,000.00 9 - 10 " " 1954 2,000.00 11 - 12 " " 1955 2,000.00 13 - ::'5 " II 1956 3,000.00 /,..--......... 16 18 " " 1957 3,000.00 , 19 - 21 II II 1958 3,000.00 - 22 ?4 " It 1959 3,000.00 25 II It 1960 1,000.00 Section 3: Said bonds shall bear interest at the rate of 3-1/4% per. annum, interest payable on May 10, 1950 and semi-annually therearter on the lOth day or November and the lOth day of May in each year until the principal is paid. Both princ5PJal and inter- - ,.- est on said bonds sha~l be payable in lawful money of the United states of America at The First National Bank, La Porte, Texas, and interest falling due on and prior to maturity shall be payable only upnn p~esentation and surrender of the interest coupons at- tached to said bonds as they severally become due. Section 4: That each of said bonds shall be signed by the Mayor