O-1979-768-B - Laserfiche WebLink

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. - WATERWORKS AND SEWER SYSTEM COMBINATION UNLIMITED TAX AND I REVENUE BONDS, SERIES 1979", are hereby authorized to be issued and delivered in accordance with the Constitution and laws of the State of Texas in the principal amount of $275,000 for the purpose of purchasing and constructing a sanitary sewer system for the District, under and in strict conformity with the Constitution and laws of the State of Texas, partic- ularly Chapter 568, page 1267, Acts of the 60th Legislature of Texas~ Regular Session, 1967 (codified as Art. 8280-342, Vernon's Ann. civ. st.), and Chapter 51 of the Texas Water Code, as amended. Section 2. Said bonds shall be dated October 1, e 1979, shal1 be numbered consecutively from 1 through 55, shall be in the denomination of $5,000 each, and shall mature and become due and payable serially on January 1 in each of the years, and in the amounts, respectively, as set forth in the following schedule: YEAR AMOUNT YEAR AMOUNT 1981 1982 1983 1984 1985 1986 1987 1988 1989 5,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 1990 1991 1992 1993 1994 1995 1996 1997 $20,000 20,000 25,000 25,000 25,000 25,000 25,000 25,000 I section 3. Said bonds shall bear interest per annum from their date until maturity at the rate of five and six-tenths percent (5.6%), with said interest to be evidenced by interest coupons payable on July 1, 1980, and semi-annually thereafter on each January 1 and July 1 until the principal sum is paid in ful1. Section 4. The principal of and interest on said bonds shall be payable to bearer, in lawful money of the United States of Am~rica, without exchange or collection charges to the bearer, upon presentation and surrender of . proper bond or interest coupon, as the case may be, at -2-