O-2006-2880 - Laserfiche WebLink

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Atro ORDINANCE AUTHORIZING AND ORDERING THE ISSUANCE OF CITY OF LA PORTE, TEXAS, GENERAL OBLIGATION BONDS, SERIES 2006; AND CONTAINING OTHER MATTERS INCIDENT THERETO BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS: ARTICLE I FINDINGS AND DETERMINATIONS Section 1.1: Findings and Determinations. The City Council hereby officially finds and determines that: (a) The City of La Porte, Texas (the "City"), acting through its City Council, is authorized by its Home Rule Charter and the Constitution and laws of the State of Texas, particularly Chapters 1331 of the Texas Government Code, as amended, to issue bonds for the purpose of making needed public improvements; (b) The issuance of the bonds herein authorized was approved by the voters of the City at an election held for such purpose on February 2,2002 (the "Election"); (c) The City Council canvassed the returns of the Election and by Ordinance adopted February 5, 2002, declared the results to be in favor of the issuance of such bonds; (d) The City has now determined that it is necessary and advisable to authorize, issue and deliver such bonds in the principal amount of $ (which takes into account the principal amount of the Bonds of $ plus a premium on the Bonds of $ ); (e) The City Council is of the opinion and hereby affirmatively finds that it is in the best interest of the City to issue bonds in the amounts and for the purposes herein stated. ARTICLE II DEFINITIONS AND INTERPRETATIONS Section 2.1: Definitions. As used herein, the following terms shall have the meanings specified, unless the context clearly indicates otherwise: "Act" shall mean Chapters 1331, Texas Government Code, as amended. "Attorney General" shall mean the Attorney General of the State of Texas.