O-1979-768-B - Laserfiche WebLink

Browse Search

, e I . NO. e e (FORM OF BOND) $5,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HARRIS SPENWICK PLACE MUNICIPAL UTILITY DISTRICT WATERWORKS AND SEWER SYSTEM COMBINATION UNLIMITED TAX AND REVE~ BOND, SERIES 1979 On January 1, , Spenwick Place Municipal utility District, a-conservation and reclamation district, a body politic and corporate and a governmental agency under the Constitution and laws of the State of Texas, situated in the County of Harris, State of Texas, for value received, hereby promises to pay to the bearer the principal amount of FIVE THOUSAND DOLLARS and to pay interest thereon, from the date hereof, at the rate of 5.6% per annum, evidenced by inter- est coupons payable July 1, 1980, and semi-annually thereafter on January 1 and July 1 of each year while this bond is outstanding. The principal of this bond and the interest coupons attached hereto shal1 be payable to bearer, in lawful money of the United States of America, without exchange or collection charges to the bearer, upon presenta- tion and surrender of this bond or proper interest coupon at Bayshore National Bank, LaPorte, Texas, the paying agent for this series of bonds. This bond is one of a series of coupon bonds dated October 1, 1979, issued in the principal amount of $275,000 for the purpose of purchasing and constructing a sanitary sewer system for said District, by authority of an election held on December 9, 1967, and pursuant to the Order authoriz- ing this series of bonds (herein the "Order"), all under and in strict conformity with the Constitution and laws of the State of Texas, particularly Chapter 568, page 1267, Acts of the 60th Legisla- ture of Texas, Regular Session, 1967, and Chapter 51 of the Texas Water Code, as amended. THI S BOND, AND THE OTHER BONDS OF THE SERIES OF WHICH IT IS A PART, are payable from the proceeds of an ad valorem tax upon all taxable property within the District and, together with the District's outstanding Waterworks System Combination Revenue and Tax Bonds, Series 1971, issued in the original aggregate principal amount of $75,000 (herein the "Outstanding Bonds"), are further payable from and secured by a lien on and pledge of the Net Revenues (as such term is defined in the Order) derived from the operation of the District's Waterworks and Sanitary Sewer System in the manner provided by Chapter 51, Texas Water Code. The Order contains a provision that terminates the pledge of Net -4-