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<br />LAPORTE2 DRAFT 6/29/89
<br />
<br />ORDINANCE NO. /,~~
<br />
<br />ORDINANCE AUTHORIZING THE ISSUANCE OF $4,550,000 CITY OF
<br />LA PORTE, TEXAS, GENERAL OBLIGATION BONDS, SERIES 1989; EXECUTION
<br />OF A PAYING AGENT/REGISTRAR AGREEMENT; AND ALL OTHER MATTERS
<br />RELATED THERETO, INCLUDING IMMEDIATE EFFECTIVENESS
<br />
<br />WHEREAS, at an election duly called and held in the City of
<br />La Porte, Texas (the "City") on June 15, 1985 (the "Election"),
<br />more than a majority of the duly qualified resident electors of
<br />the City who participated in the election voted in favor of,
<br />among other things, the issuance of tax supported bonds for
<br />various purposes, including those described below; and
<br />
<br />WHEREAS, the City has heretofore issued "City of La Porte,
<br />Texas General Obligation Bonds, Series 1985" in the original
<br />aggregate principal amount of $5,000,000 as the first installment
<br />of bonds authorized at the Election for various purposes;
<br />including those described below; and
<br />
<br />WHEREAS, the City Council of the City deems it necessary and
<br />desirable to proceed with the issuance of another installment of
<br />bonds authorized at the Election in the aggregate principal
<br />amount of $4,550,000, leaving certain of said bonds to be issued
<br />in one or more installments at a later date or dates all as
<br />described in the following table:
<br />
<br />Purpose
<br />
<br />Authorized Previously
<br />Amount Issued
<br />
<br />This Remaining
<br />Issue Authorization
<br />
<br />Constructing improve- $2,500,000 $1,000,000 $1,000,000 $500,000
<br />ments to the streets
<br />in the City, including
<br />necessary drainage in
<br />connection therewith
<br />
<br />Acquiring and improv-
<br />ing a sanitary land-
<br />fill, including the
<br />purchase of necessary
<br />sites therefor
<br />
<br />$4,000,000
<br />
<br />-0-
<br />
<br />$2,500,000 $1,500,000
<br />
<br />Constructing or pur- $1,500,000 $450,000 $1,050,000 -0-
<br />chasing a public build-
<br />ing, namely a fire
<br />department training
<br />facility and related
<br />improvements, includ-
<br />ing the purchase of a
<br />site therefor
<br />
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