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.. .' ~ e e ORDINANCE I~O. 653 . AN ORDINANCE APPROVING CLAIMj AUTHORIZING DELIVERY OF TIME WARRANTS AND AVAILABLE FUNDS TO PAY SUCH CLAIMj AND CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT WHEREAS, the City Commission of the City of La Porte, Texas, adopted an ordinance on the 19th day of January, 1962, awarding a contract to Couch Construction Company, Houston, Texas, for the construction of certain extensions and improve- ments to the sanitary sewer system of said City, and authorizing the issuance of $50,000 CITY OF LA PORTE SEWER SYSTEM TIME WARRANTS, SERIES 1962, dated January 15, 1962, in payment of the e cost of such extensions and improvements, said warrants bearing interest at the rate of 6% per annum, and maturing serially in their numerical order as follows: $10,000 on July 15th in each of the years 1965 to 1969, both inclusivej and WHEREAS, said contract has now been satisfactorily and entirely completed according to its terms, and the contractor has submitted his claim in the contract price, to-wit: $41,624.00j and WHEREAS, the City Commission affirmatively finds and de- 4IJ clares that said contract has been duly and satisfactorily per- formed in every respect, and that the City of La Porte has re- ceived the full benefits arising therefromj and WHEREAS, said claim has been assigned, without discount, to Moroney, Beissner & Co., Inc., Houston, Texas, and said Com- pany is now the legal owner and holder of said claimj and WHEREAS, the City of La Porte, Texas, has received the full benefits of the improvements, extensions, materials, equip- ment, services, and considerations represented by said claim to - the full extent of said claim, and to the full extent of the time warrants and current funds of the City hereafter in this ordinance