O-1949-377 - Laserfiche WebLink

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.' ..; ~ ......... e .... . . ~ -....... e ....--..... e ~ e, . . in due time, form and manner and at the time other City taxes are assessed, levied and collected, in each year, a tax upon all taxable property on said City of La Porte, Texas, sufficient to pay the current interest thereon and to create a sinking fund to pay the principal as it matures; and a tax of (____~) cents on each $100 valuation of taxable property within said City is hereby levied for the current year 1949 to pay inter- est on said bonds and to create a sinking fund for their redem- ption at maturity and said tax shall be assessed,' collected and applied to the purpose named; and for the purpose at' providing a fund for the payment of principal and interest on said bonds as they respectively become due and payable, there is hereby levied for each of the years while said bonds or any part of the principal thereof or interest thereon remains outstanding and unpaid, a continuing direct annual ad valorem tax upon all taxable property within said City sufficient therefor, and said taxes, when collected, shall be applied to the payment of prin- cipal and interest on said bonds, and to no other purpose. Section 9: That the Mayor shall take and have charge of said bonds pending their investigation and approval by the Attorney General and, when so approved, shall deliver them to the Comp- troller of Public Accounts for registration. Section 10: The sale of said bonds to E. L. Brown, Jr., Houston, Texas, at a price of par plus accrued interest plus a cash pre- mium of $67.00 is hereby ratified, confirmed and approved and said bonds shall be delivered to the purchaser upon payment of the purchase price. PASSED and APPROVED this ~ day o~ ~' ~/~orte. 1949. Texas exas