O-1979-768-B - Laserfiche WebLink

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I I I . . . ORDER AUTHORIZING THE ISSUANCE AND SALE OF $275,000 WATERWORKS AND SEWER SYSTEM COMBINATION UNLIMITED TAX AND REVENUE BONDS, SERIES 1979 THE STATE OF TEXAS ~ ~ COUNTY OF HARRIS ~ WHEREAS, $350,000 in aggregate principal amount of the bonds of Spenwick Place Municipal Utility District, including the bonds hereinafter authorized, were duly and favorably voted, as required by and in compliance with the Constitution and laws of the State of Texas, at an election held in said District on the 9th day of December, 1967; and WHEREAS, the District has heretofore authorized and issued its Waterworks System Combination Revenue and Unlimited Tax Bonds, Series 1971, dated January 1, 1971, in the original aggregat~ principal amount of $75,000, a substan- tial part of which remains outstanding; and " WHEREAS, it is provided in said outstanding bonds, and in the proceedings authorizing the same, that the District reserves the right to issue additional bonds payable from and secured by a lien on the net revenues of the District's waterworks and sanitary sewer system on a parity in all respects with the lien on such net revenues which in part secures said outstanding bonds; and WHEREAS, in order to provide for the construction and purchase of a sanitary sewer system for the District, the Board of Directors deems it necessary and desirable to . p~oceed with the issuance and sale of bonds in the aggregate princ.ipal amount of $275,000; therefore, BE IT ORDERED BY THE BOARD OF DIRECTORS OF SPENWICK PLACE MUNICIPAL UTILITY DISTRICT THAT: Section 1. The District's coupon bonds to be designated the "SPENWICK PLACE MUNICIPAL UTILITY DISTRICT