O-1989-1652 - Laserfiche WebLink

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, . e e **(FORM OF COMPTROLLER'S CERTIFICATE ATTACHED TO THE BONDS UPON INITIAL DELIVERY THEREOF) OFFICE OF COMPTROLLER REGISTER NO. STATE OF TEXAS . . I hereby certify that this Bond has been examined, certified as to validity, and approved by the Attorney General of the State of Texas, and that this Bond has been registered by the Comptroller of Public Accounts of the State of Texas. witness my signature and seal this ( SEAL) XXXXXXX Comptroller of Public Accounts of the State of Texas NOTE TO PRINTER: *!s to be on reverse side of bond **!s not to be on bond section 7. DEFINITIONS. As used in this Ordinance, the following terms shall have the meanings set forth below, unless the text hereof specifically indicates otherwise: (a) The terms "Bond" or "Bonds" shall mean one or more, as the case may be, of the Bonds authorized to be issued by this Ordinance. (b) The terms "City" and "Issuer" shall mean the city of La Porte, Texas, or where appropriate the City Council thereof. (c) The term "City Council" shall mean the governing body of the city. (d) The term "Interest and sinking Fund" means the fund provided for in section 9 hereof. (e) The term "Year" or "fiscal year" shall mean the regular fiscal year used by the City in connection with the operation of the System, which may be any 12 consecutive months period established by the City. section 8. PLEDGE AND LEVY OF TAXES. While the Bonds are any part of the principal thereof or the interest thereon remain outstanding and unpaid, there is hereby levied and there shall be annually assessed and collected in due time, form, and manner and at the same time other city taxes are. assessed, levied, and collected, in each year beginning with the current year, a continuing direct annual ad valorem tax upon all taxable property in the city sufficient to pay the current interest thereon and to create a sinking fund of not less than two percent of the principal amount of the Bonds then outstanding or of not less 14