O-1949-379 - Laserfiche WebLink

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(. . ~ ~-, e for value without notice, and.to agre~ that this bond and each of the coupons hereto attached may be negotiated by delivery by any person having possession thereof, howsoever such possession may have been acquired, and that any holder who shall have taken this bond or any of the coupons from any person, for value and without n."~e, thereby has acquired absolute title thereto, free from any defenses enforceable against any prior holder and free from all equities and claims of ownerShip of any such prior holder. The City of La Porte and its officers and fiscal agent shall not be.affected by any notice to the contrary. This bond shall not be deemed to constitute a debt of the ~. ~ - City of La Porte or a pledge of its faith and credit, but shall be payable as to principal and interest solely from the net reve- nues derived from the operation of the city's waterworks and sewer system, including all additions, extensions and improvements thereto which may hereafter be made, after deduction of thema- sonable expenses of maintenance and operation of said system. The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxa- tion. e It is hereby certified, recited and represented that the issuance of this bond and the series of which it is a part is duly authorized by law; that all acts, conditions and things required to exist and to be done precedent to and in the issuance of this ~.~.~~ . , series of bonds to render the same lawful and valid, have been properly done and performed and have happened in regular and due time, form and manner, as required by law; that due provision has been made for the payment of the principal and interest of ~ this bond and the series of which; it, is a part by irrevocably pledging the net revenues of the waterworks and 'sewer system; that the issuance of thie series of bonds does not exceed any ~--...... constitutional or statutory lim~tation. e