O-1953-440 - Laserfiche WebLink

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~ ;', " !;. . ,...-.....". .. p' -......... e .'--: ---. . ~ - . .. e., to the effect that this bond has been examined by him, as required by law, and that he finds that it has been issued in conformity with the Constitution and laws of the State of Texas, and that it is a valid and binding obligation upon said City ot La Porte, Texas, and that said bond has this day been registered by me. WITNESS my hand and seal ot otfice at Austin, Texas, . Comptroller ot Public Accounts ot the State ot Texas Section 8: I While said bonds, or any part of the principal thereot lor interest thereon, remain outstanding and unpaid, there is hereby Ilevied and there shall be annually assessed and collected in due I time, form and manner and at the time other city taxes are assessed, levied and collected, in each year, a tax upon all taxable property on said City ot La Porte, Texas, sufficient to pay the current linterest thereon and to create a sinking fund to pay the principal las it matures; and a tax of -fIJ !fee- on each 1$100 valuation ot taxable property within said City is hereby levied tor the current year 1953 to pay interest on said bonds and to create a sink1ng fund tor their redemption at me. turi ty and said tax shall be assessed, collected and applied to the purpose named; and for the purpose ot providing a fund for the payment of principal and interest on said bonds as they respectively become due and payable, there is '. hereby levied for each ot the years while said bonds or any part ot the principal thereof or interest thereon remains outstanding and paid, a,continuing direct annual ad valorem tax upon all taxable roperty within said City sufficient theretor, and said taxes, when ~ollected, shall be applied to the payment ot principal and interest pn said bonds, and to no other purpose. ,