O-1962-656 - Laserfiche WebLink

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. . the refunding bonds hereafter in this ordinance authorized to be issuedj and WHER.EAS, the City Commission wishes to proceed with the authorization and issuance of said refunding bondsj Therefore BE IT ORDAINED BY THE CITY COMMISSION OF THE CITY OF LA PORTE, TEXAS: Section 1: 1.01 - EXPRESS FINDINGS: That it is hereby expressly found and declared that the notice of intention to issue the hereinafter ~ described refunding bonds of the City of La Porte, Texas, has been given for the time and in the manner provided by law, and that no petition has been filed in the office of the City Clerk of said City, or with any other officer of said City, praying or requesting that the City Commission of said City order an election for the purpose of submitting the proposition of the issuance of such refunding bonds to a vote of the qua.lified property taxpaying voters of said Ci~y, and that no protest of any kind or character has been filed with or presented to said City Commission or to any officer of the City, and that said City Commission is now author- ized to issue the hereinafter described refunding bonds of said . . City. 1.02 - AMOUNT~ NAME, PURPOSE AND AUTHORIZATION OF REFUNDING BONDS: That the coupon refunding bonds of the City of La Porte, Texas, be issued in the principal amount of $41,000, to be known and desig- na ted as "CITY OF LA PORTE, 'rEXAS" SEWER SYSTEM REFUNDING BONDS, SERIES 1962", for the purpose of refunding, cancelling, and in lieu of a like principal amount of outstanding time warrants of said City (being the outstanding time warrants described in the preamble to this ordinance), under and by virtue of the Constitution and -3-