O-1962-656 - Laserfiche WebLink

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-- . .' . . . 07<..\)1 rJr?/:JOe: ~o. 6 ~6 AN ORDINANCE AUTHORIZING THE ISSUANCE OF SEWER SYSTEM REFUNDING BONDS; PRESCRIBING THE TERMS AND PROVISIONS THEREOF; PROVIDING FOR THE EXCHANGE THEREOF FOR THE INDEBTEDNESS BEING REFUNDED THEREBY; CONTAINING OTHER PROVISIONS RELATING TO THE SUBJECT; AND PROVIDING THAT THIS ORDINANCE SHALL BE EFFECTIVE UPON AND AFTER ITS ADOPTION WHEREAS, the following time warra.nts of the City of La Porte, Texas, are now outstanding and unpaid, and constitute valid obligations of said City: CITY OF LA PORTE SEWER SYSTEM TIME WARRANTS, SERIES 1962, dated January IS, 1962, Warrants Nos. 1 to 41, both inclusive, in the denomi- nation of $1,000 each, aggregating $41,000, bearing interest at the rate of 6% per annum, and maturing serially on July 15th in each of the years as follows: $10,000 in each of the years 1965 to 1968, both inclusive, and $1,000 in 1969; and WHEREAS, on the 16th day of July, 1962, the City Commis- sion of said City adopted a resolution authorizing and directing the Mayor and City Clerk to give notice of intention to issue refunding bonds of said City for the purpose of refunding, can- ceIling, and in lieu of a like principal amount of said time war- , '""" i'h' ~/J I~/ert;; ~jYf;:~~'16 Ju.d ~n" . rants, and said notice was published in The 1& P~te Libe~l on ~~._:....:;;..:..;...::;.r:.o:.:;I__'" ."0 ~_) July 19, 1962, July 26, 1962, and August 2, 1962, the first pub- lica.tion being more than thirty (30) days prior to the date for passing the ordinance authorizing the issuance of such refunding bonds; and WHEREAS, no petition requesting that the issuance of such refunding bonds be submitted to a referendum vote has been filed, and no protest against the issuance of such refunding bonds (written or otherwise) has been made; and WHEREAS, the owner and holder of said outstanding time warrants described above has agreed to the refunding thereof into -2-