O-1962-641 - Laserfiche WebLink

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----. . '-. .~;- -.-..... . ''''-- - ---- . '- - . . and maturing serially on March 15th in each of the years '1963 to 1978, both inclusive, said bonds hav1,ng been registered by the Comptroller of Public Accounts of the state of Texas under Reg. No. 26972; and (4) viA TERWORKS AND SEWER SYSTEM REVENUE BONDS, SERIES 1951, d9. ted March .15, 1951, Bonds Nos. 15 to 50, both inclusive, in the denomination of $1,000 each, aggregating $36,000, bearing interest at the r9.te of 3-1/2% per annum., and maturing serially on March 15th in each of the years 1963 to 1978, both inclusive, said bonds having been registered by the Comp- troller of Public Accounts of the state of Texas under Reg. No. 27581; and WHEREAS, the owners and holders of sa.id outstanding reve- nue bonds have consented to the refunding thereof into revenue re- funding bonds, as hereafter provided in this ordinancej and WHEREAS, the City Commission of said City has determined, and hereby affirmatively determines and declares, that it would be to the best interests of the City for such outstanding bonds to be so refundedj and WHEREAS, the City Commission wishes to proceed with the issuance of said revenue refunding bonds; Therefore BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE: Section l~ AMOUNT 3 NAME.I> PURPOSE 3 AND A UTHORIZA TION OF REVENUE BONDS: Tha t the coupon revenue bonds of the C1.t,y of I.a Porte, Texas, be issued in the principal amount of $328,000, to be Known and designated as "CITY OF LA PORTE, TEXAS, WATERWORKS AND SEWER SYSTEM REVENUE REFUNDING BONDS,? SERIES 19621~, for the purpose of refunding, can- ~--, celing, and in lieu of a like principa.l amount of waterworks and ~ sanitary sewer system revenue bonds of said City (being the -3-.