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<br />... RESOLUTION NO. 99-1' <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, ADOPTING THE <br />OFFICIAL NOTICE OF SALE AND OFFICIAL STATEMENT FOR THE LA PORTE AREA WATER <br />AUTHORITY CONTRACT REVENUE REFUNDING BONDS, SERIES 1999. <br /> <br />WHEREAS, the La Porte Area Water Authority has previously issued debt to construct certain <br />projects, including the purchase of capacity at the Southeast Water Purification Plant and a <br />distribution system to deliver the water; and <br /> <br />WHEREAS, changes in market conditions provide the opportunity for the Authority to refund its debt <br />at a rate which will result in financial savings to the Authority and its customers; and <br /> <br />WHEREAS, the La Porte Area Water Authority is a component unit of the City of La Porte; and <br /> <br />WHEREAS, the City of La Porte is of the opinion that the issuance of refunding debt provides <br />savings to the Authority and its customers; and <br /> <br />WHEREAS, the City Council is of the opinion the Official Notice of Sale and the Official Statement <br />of the City should be adopted; <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, : <br /> <br />Section 1. THAT, the Official Notice of Sale and Official Statement of the La Porte Area Water <br />Authority Contract Revenue Refunding Bonds, Series 1999, is hereby adopted; <br /> <br />Section 2. That the City Council officially finds, determines, recites and declares that a sufficient <br />written notice of the date, hour, place and subject of this meeting of the City Council was posted at <br />a place convenient to the public at the offices of City of La Porte for the time required by law <br />preceding this meeting, as required by the Open Meetings Law, Chapter 551, Texas Government <br />Code; and that this meeting has been open to the public as required by law at all times during which <br />this resolution and the subject matter thereof has been discussed, considered and formally acted <br />upon. The City Council further ratifies, approves and confirms such written notice and the contents <br />and posting thereof. <br /> <br />PASSED AND APPROVED this the 9th day of August, 1999. <br /> <br /> <br />