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<br />e <br /> <br />e <br /> <br />. laws of the state of Texas, particularly Article 2368a, Vernon's <br /> <br />Texas Civil Statutesj as amended, and the Home Rule Charter of <br /> <br />said City. <br /> <br />Section 2: <br /> <br />DATE, BOND NUMBERS, DENOMINATION, AND MATURITIES: That said re- <br /> <br />funding bonds shall be dated April 15, 1962, shall be numbered <br /> <br />consecutively from 1 to 41, both inclusive, shall be in the denomi- <br /> <br />nation of $1,000 each, aggregating $41,000, and shall become due <br /> <br />and payable serially in their numerical order, without option of <br /> <br />4It prior redemption, on April 15th in each of the years 1965 to 1972, <br /> <br />as follows: <br /> <br />Bond Numbers Year of Amount <br />(both incL) Maturity lVIaturing <br />1 - 5 1965 $5,,000 <br />6 - 10 1966 5,000 <br />11 - 15 1967 5,000 <br />16 - 20 1968 5,000 <br />21 25 1969 5,000 <br />26 - 30 1970 5,000 <br />31 - 35 1971 5,000 <br />36 - 41 1972 6,000 <br /> <br />The City Commission of the City of La Porte, Texas, affirmatively <br /> <br />- <br /> <br />adjudges that the financial condition of said City will not permit <br /> <br />said bonds to be issued in such jnstallments as will make the bur- <br /> <br />den of taxation to support the same approximately uniform through- <br /> <br />out the term of said issue unless the installments hereinabove <br /> <br />provided for shall be so construed. <br /> <br />Section 3~ <br /> <br />.3..:..Q1. - INTEREST RATE AND I.NTEREST PAYMENT DArES: Tha t said re- <br /> <br />funding bonds shall bear interest at the rate of _~...L per annum, <br /> <br />interest payable October 15" 1962, and semi-a.nnually thereafter on <br /> <br />. <br /> <br />April 15th and October 15th of each year until the principal sum <br /> <br />is paid. <br /> <br />-4- <br />