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<br />AN ORDINANCE AUTHORIZING THE ISSUANCE OF $328,000
<br />WATERWORKS AND SEWER SYSTEM REVENUE REFUNDING
<br />BONDS; PRESCRIBING THE TERMS AND PROVISIONS THERE~
<br />OF; MAKING PROVISION FOR THE PAYMENT OF THE PRIN-
<br />CIPAL THEREOF AND INTEREST THEREON j PROVIDING FOR
<br />THE EXCHANGE THEREOF FOR THE UNDERLYING BONDS BEING
<br />REFUNDED THEREBY; CONTAINING OTHER PROVISIONS RE-
<br />LATING TO THE SUBJECT; AND PROVIDING THAT THIS
<br />ORDINANCE SHALL BE EFFECTIVE UPON AND AFTER ITS
<br />ADOPTION
<br />
<br />WHEREAS, the following revenue bonds of the City of
<br />
<br />La Porte, Texas, payable from the net revenue.s of the waterworks
<br />
<br />and sanitary sewer system, are outstanding and unpaid, and consti-
<br />
<br />tute valid and binding spe~ial obligations of said City (said
<br />
<br />bonds constituting all the outstanding indebtedness payable from
<br />
<br />said net revenues)~
<br />
<br />(1) WATERWORKS AND SEWER SYSTEM REVENUE BONDS"
<br />SERIES 1948, dated March 15, 1948, Bonds
<br />Nos. 89 to 157, both inclusive. 163 to
<br />168, both inclusive, and 174 to 250, both
<br />1.nc1usive, j.!1 'the denomination of $1.000
<br />each, aggregating $152,000, (Bonds Nos.
<br />158/162 and 169/173 having oeen paid prior to
<br />maturity and having been canceled), bearing
<br />interest per annum at the following rates:
<br />3-3/4% (Nos. 89/151) and 3-1/2% (Nos. 152/1.57,
<br />163/168, and 1.74/250), and maturing serially
<br />on March 15th in each of the years 1963 to
<br />1.977, said bonds having been registered by
<br />the Comptroller of Public Accounts of the
<br />State of Texas under Reg. No. 24828;
<br />
<br />(2) WATERWORKS AND SEWER SYSTEM REVENUE BONDS"
<br />SERIES 1949, dated March 15, 1.949, Bonds
<br />Nos. 28 to 100, both inclusive, in the de-
<br />nomination of $1,000 each, aggregating $73,000,
<br />bearing interest at the rate of 4% per annum,
<br />and maturing serially on March 15th in each
<br />of the years 1963 to 1978, both inclusive,
<br />said bonds having been registered by. the Comp-
<br />t~oller of Public Accounts of the State of
<br />Texas under Reg. Nos. 25979 and 2634~;
<br />
<br />(3) WA TERWORKS AND SEWER SYSTEM REVENUE BONDS,
<br />SERIES 1950, dated March 15, 1950, Bonds Nos.
<br />34 to 100, both inclusive, in 'the denomination
<br />of $1,000 each, a.ggr'egF.i.ting $67,000, bearing
<br />interest per a.nnum at the following rates:
<br />2~1/2% (Nos. 34/40) and 2-3/4% (Nos. 41/100),
<br />
<br />.-2-
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