O-1953-440 - Laserfiche WebLink

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~_. - -.~ :- -. .--- -" .' ~ ~--- ... 'I_ ., --- . . . WHEREAS, said election was properly called and notice thereof given as required by law and the City Commission has heretofore canvassed the results thereof and determined the specific authority of the City to issue said bonds; Therefore BE IT ORDAINED by the City Commission of the City of La Porte, Texas: Section 1: That the bonds of the City of La. Porte, Texas, be issued in the prinCipal amount of $12,000, to be known and designate as "CITY OF LA PORTE CITY HALL BONDS, SERIES 1953", for the acqui- sition of a capital project, to-wit: constructing a city hall with- in said city, under and by virtue of the Constitution and laws of the State of Texas, particularly Chapters 1 and 7 of Title 22, Revised Civil Statutes of Texas, 1925, as amended, and the City Charter of said city, particularly Article VI thereof. Section 2: Said bonds shall be dated January 15, 1953, shall be numbered from 1 to 12, both inclusive, shall be in the denomination of $1,000 each, aggregating $12,000, and shall become due and pay- able on the 15th day of January in each of the years and in the respective amounts shown in the following schedule, to-wit: Bond Nos. Maturity Amount 1 January 15, 1955 $ 1,000.00 2 fI " 1956 1,000.00 , 3 " " 1957 1,000.00 , 4 - 5 " " 1958 2,000.00 . , 6 8 II II 1959 3,000.00 . , 9 - 11 " " 1960 3,000.00 . , 12 " II 1961 1,000.00 . , Section 3: Said bonds shall bear interest at the rate of 3-1/4% per annum, interest payable on January 15, 1954, and semi-annually thereafter on the 15th day of July and the 15th day of January each year unti.l-the 'principa.l is paid. Both principal and interest on said bonds shall be payable in lawful money of the United States of America at The First National Bank, L~ Porte, Texas, and interest ;. )~ / "