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<br />OFFICIAL NOTICE OF SALE
<br />Dated August _' 1999
<br />
<br />NEW ISSUE: BOOK ENTRY-ONLY
<br />
<br />Place and Time of Sale
<br />
<br />The Board of Directors of the La Porte Area Water Authority, (Harris County, Texas), will receive sealed bids until 5:00 p.m., COST,
<br />September 8, 1999, in the City Hall, 604 West Fainnont Parkway, La Porte, Texas 77571, on the following:
<br />
<br />DESCRIPTION OF BONDS
<br />
<br />58,080,000
<br />LA PORTE AREA WATER AUTHORITY
<br />(Harris County, Texas)
<br />CONTRACT REVENUE REFUNDING BONDS, SERIES 1999
<br />"QUALIFIED TAX-EXEMPT OBUGATIONS"
<br />
<br />The Bonds will be dated September 15, 1999. Interest on the Bonds will accrue from such date and will be due on March 15, 2000, and
<br />each September 15 and March 15 thereafter until maturity. The Bonds will be issued in fully registered fonn in integrai multiples of
<br />55,000, and principal and semiannual interest will be payable at Chase Bank of Texas, National Association, the paying agent/registrar
<br />(the "Registrar"), at its principal payment office in Dallas, Texas. The Bonds will be initially registered and delivered only to Cede &
<br />Co., the nominee of The Depository Trust Company ("DTC") pursuant to the Book-Entry-Only System described herein. Beneficial
<br />ownership of the Bonds may be acquired in denominations of $5,000 or integral multiples thereof No physical delivery of the Bonds
<br />will be made to the purchasers thereof. Principal of and interest on the Bonds will be payable by the Registrar to Cede & Co., which
<br />will make distribution of the amounts so paid to the beneficial owners of the Bonds. See "Book-Entry-Only System" herein If the date of
<br />the payment of the principal or interest on a Bond shall be a Saturday, Sunday,legal holiday, or a day on which banking institutions in
<br />the city where the payment office of the Paying AgentlRegistrar is located are authorized by law or executive order to close, then the date
<br />for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or a day on which banking
<br />institutions are authorized to close and payment on such date shall have the same force and effect as if made on the original date payment
<br />was due.
<br />
<br />Book-Entrv-Onlv Svstem
<br />
<br />The Authority intends to utilize the Book-Entry-Only System of The Depository Trust Company ("DTC"). See "BOOK-ENTRY-ONLY
<br />SYSTEM" in the Official Statement.
<br />
<br />March 15
<br />Maturitv Schedule
<br />
<br />Year
<br />2002
<br />2003
<br />2004
<br />2005
<br />2006
<br />2007
<br />2008
<br />2009
<br />
<br />Amount
<br />$370,000
<br />385,000
<br />405,000
<br />420,000
<br />445,000
<br />460,000
<br />485,000
<br />505,000
<br />
<br />Year
<br />2010
<br />2011
<br />2012
<br />2013
<br />2014
<br />2015
<br />2016
<br />2017
<br />
<br />Amount
<br />$525,000
<br />550,000
<br />580,000
<br />615,000
<br />640,000
<br />670,000
<br />705,000
<br />320,000
<br />
<br />Ontional Provisions
<br />
<br />All Bonds maturing on or after March 15,2011, are optional forredemption in whole or in part on March 15,2010, or any date thereafter
<br />at par and accrued interest to the date fixed for redemption. If less than all of the Bonds are redeemed at any time, the particular Bonds
<br />to be redeemed shall be selected by the Authority in integral multiples of $5,000 within anyone maturity. The registered owner of any
<br />Bond, all or a portion of which has been called for redemption, shall be required to present same to the Registrar for payment of the
<br />redemption price on the portion of the Bond so called for redemption and a new Bond in the principal amount equal to the portion of such
<br />Bond not redeemed will be issued to such registered owner.
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