O-1959-575 - Laserfiche WebLink

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e e said bonds and to create and provide a sinking fund or not less than two per cent of the principal amount of said bonds then outstanding ~ or of not less than the amount required to pay the principal payable . ~ ~ out of said tax, whichever is greater, full allowance being made for delinquencies and costs of collection, and said taxes, when collected, shall be applied to the payment of the principal and interest on said bonds, and to no other purpose. Section 9: That it shall be the duty of the Mayor to submit the record of said bonds, and the bonds, to the Attorney General of Texas, for approval, and thereafter to have them registered by the Comptroller of Public Accounts of Texas. Section 10: That the sale of said bonds to jlj!ed.. tch~~v (;{) J':/I (/~~{dh~' ~~IL-<-- , at a price equal to the / ~inciPa1 amount of said bonds plus accrued interest thereon from the date of such btndS to the date of actual delivery, plus a cash pre- mium of ~~ . subject to the unqualified approving oPi~ion as to the legality of such bonds by the Attorney General of Texas and Vinson, Elkins, Weems & Searls, Houston, Texas, market attorneys, is hereby authorized, approved, ratified, and confirmed. When said bonds have been approved by the Attorney General of Texas and registered by the Comptroller of Public Accounts of Texas, the Comptroller is hereby authorized and respectfully requested to deliver the same to the American National Bank, Austin, Texas, for the account of the City, where such bonds will be delivered to the purchasers upon receipt of the purchase price. The Mayor and City Clerk are authorized and directed to do any and all things necessary and/or convenient to carry out the terms of this ordinance. PASSED AND APPROVED this 18th day of September, 1959. ~tp~ Mayor, City of ATTEST: :Y:~<</d 1< LSd'~<'"-/ City Clerk, City of La Porte, Texas (SEAL)