O-1954-468 - Laserfiche WebLink

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e IInow in the Interest and Sinking Fund of th.e sewer, Funding Bonds1 Series 1938. including the two thousand dollars ($21000.00) to be duived from the two (2) City Clerk as follows: Two Thousand Dollars (.2.000 00) 'shall be deposited in the Interest & Sinking Fund of the Refunding Bondss Series 19341 and Two Thou- sand Dollars ($2.000.dO) shall be deposited in the Inter~st & Sinking Fund of the Sewer Funding Bonds1 Seri~s 1938~ Section 2. Whereas! h~retoforel' the City 01 La Porte paid off In full all Bonds of the Sewer Funding Bonds] S~ries: 1938J and all Bonds of the Sewer Refunding BondsJ Series 1944J and whereas: there is n~ present or future need to maintain Interest & Sinking Funds for eit~er of such Series of BondsJ and wherea there are now excessive balances ot money in the two ~nterest & Sinking Funds heretofore provided for the two said Series of Bonds ~nd unless changed by ordi- nance depo~it~ ~ill continue to be made into surih Interest & Sinking Funds. of money collected and to be collected under.levies and ~pportionments heretofore made. and whereas the City has'n~ed for a~ditional funds in its Street Improve- ment Fund and will continue'to need money~in its General Fund, it is now1 there- fore ordered that the Mayor and City ,Clerk withdraw all of the money on deposit ....,. , - \ ,-' Series 1938. and whereas all of said Bonds have matured and should now be pre- sented for paymentJ it is now] therefore~ orderld th~t the Mayor and City Clerk present such Bonds, properly endorsed, to the ploper agency of the Unitvd States Government1 that the proceeds of sucb Bonds be ,collected and deposited by the ! (4) United States Series F Bonds. of the maturity v~lue of One Thousand Dollars ($11000.00) each1 tw~ (2) of such Bondshavinq beeDpurc~ased with funds belong-. ing to the Interest & Sinking Fund provided for the Refunding Bond Fund Series 1934, and the other two (2) of such Bonds ~aving been purchased with money belonu- ing to the Interest and 'Sinking Fund provided for ~he Sewer Funding Bonds, i /' ............ 'e \ L , , Section 1. Whereas. heretofore the City o~ La'Porte has purchased four AN ORDINANCE ORDERING THE REDEMPTION OF FOUR ONE T,OUSAND DOLLAR ($11000.00) U. S. SERIES F BONDS OWNED BY CERTAIN INTEREST ANDSINK~ G FUNDS; THE DEPOSIT OF THE PROCEEDS THEREOF INTO SUCH INTEREST AND SINKING FU, DSj 'TRANSFERRING THE BALANCES, IN CERTAIN INTEREST AND SINKING FUNDS. WHICH HAVE 8,EN MAINTAINED FOR TiflE CITY OF LA PORTE BOND ISSUES WHICH HAVE HERETOFORE BEEN FU'; YP,AID BY THE CITY. INTO THE STREET I MfROVEMENT FUND;. ORDERING ALL MONEYS COLLE ,:r E.D 'IN THE FUTUREI.WHICH OTHE..- WI SE WOULD BE DEPOSITED IN THE iNTEREST AND SINKINtFUNDS OF SAID BONDS WHICH HAVE BEEN FULLY PAIDI TO BE DEPOSITED INTO THE,GEN _ AL~UNDS OF THE CnYj APPROV ING AND RATIFYING THE TRANSFER OF THE FIVE THOUSAN ' DOLtAR ($5.000.00) TIME DE- . POSIT BELONGING TO A CERTAIN INTEREST AND SINKING r'UND INTO THE STREET IMPROVE- MENT FUND j PROVIDING THAT ALL ORDINANCES1 RESOL UTI - S AND PARTS THEREOF WUtCH ARE IN CONFLICT HEREWITH ARE HEREBY EXPRESSL Y REPE ED. . 'l BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY ~ LA ,PORTE, TEXAS. THAT: '--- e ~-, ORDINANCE NO. fI" .'"