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<br />THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
<br />LA PORTE, TEXAS, THAT;
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<br />section 1. BONDS AUTHORIZED. The preamble to this
<br />Ordinance is hereby made a part hereof and pursuant to Article
<br />701 et. seq., Vernon's Texas civil Statutes, as amended, and
<br />other applicable law, the City's bonds to be designated as the
<br />"City of La Porte, Texas, General Obligation Bonds, Series 1989"
<br />for the following purposes: $1,000,000 for constructing
<br />improvements to the streets in the ci ty , including necessary
<br />drainage in connection therewith; $2,500,000 for improving
<br />sanitary landfill, including the purchase of the necessary sites
<br />therefor; and $1,050,000 for constructing or purchasing a public
<br />building, namely a fire department training facility and related
<br />improvements, including the purchase of a site therefor.
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<br />section 2. DATES AND MATURITIES. The Bonds shall be dated
<br />July 15, 1989, shall be in the denomination of $5,000 or any
<br />integral multiple thereof, shall be numbered consecutively from
<br />R-1 upward, and shall mature on the maturity date, in each of the
<br />years, and in the amounts , respectively, as set forth in the
<br />following schedule:
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<br /> MATURITY DATE: FEBRUARY 15
<br />YEAR AMOUNTS YEAR AMOUNTS
<br />1991 $225,000 2001 $225,000
<br />1992 225,000 2002 225,000
<br />1993 225,000 2003 225,000
<br />1994 225,000 2004 225,000
<br />1995 225,000 2005 225,000
<br />1996 225,000 2006 225,000
<br />1997 2;:5,000 2007 225,000
<br />1998 225,000 2008 225,000
<br />1999 225,000 2009 250,000
<br />2000 225,000 2010 250,000
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<br />section 3. RIGHT OF PRIOR REDEMPTION. The City reserves the
<br />right to redeem the Bonds maturing on or after February 15, 2001,
<br />in whole or in part in principal amounts of $5,000 or any
<br />integral multiple thereof, on February 15, 2000, or any date
<br />thereafter, at the par value thereof plus accrued interest to the
<br />date fixed for redemption. If less than all of the Bonds are to
<br />be redeemed by the City, the City shall determine the maturity or
<br />maturities and the amounts thereof to be redeemed and shall
<br />direct the Paying Agent/Registrar to call Bonds, or portions
<br />thereof, within such maturity or maturities and in such principal
<br />amounts, for redemption.
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<br />At least 30 days prior to the date any such Bonds are to be
<br />redeemed, (i) a written notice of redemption shall be given to
<br />the registered owner of each Bond or a portion thereof being
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