O-1950-400 - Laserfiche WebLink

Browse Search

e e . able as to principal and interest solely from the net revenues de- rived from the operation of the City's waterworks and sewer system, including all additions, extensions and improvements thereto which may hereaftzr be made, after deduction of the reasonable 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 taxation. It is hereby certified, recited and represented that the issu- ance of this bond and the series of which it is a part is duly au- thorized by law; that all acts, conditions and things required to exist and to be done precedent to and in the issuance of this serie - 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 fo the payment of the principal and interest of this bone and the ser- ies of which it is a part by irrevocably pledging the net revenues of the waterworks and sewer system; that the issuance of this series of bonds does not exceed any constitutional or statutory limitation. f IN TE~TIMONY WHEREOF, the City Commission of the City of La Porte, Texas, has caused the corporate seal of said City to be af- fixed hereto and this bond to be signed by the Mayor of said City, I countersigned by the 6ity Clerk, and has caused the annexed coupons I to be signed by the facsimile signatures of said Mayor and City Clerk, all as of the 15th day of March, 1950. Countersigned: City Clerk, City of La Porte, Texas Mayor, City of La Porte, Texas *(Bonds Nos. 1 to 40, both inclusive, oear interest at the rate of 2-1/2% per annum; Bo~ds Nos. 41 to 100, both inclusive, bear interest at the rate of 2-3/4% per annum). .