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ORDINANCE NO.2021-3838
<br />ORDINANCE AUTHORIZING THE ISSUANCE OF CITY OF LA PORTE, TEXAS,
<br />CERTIFICATES OF OBLIGATION, SERIES 2021; AND CONTAINING OTHER
<br />RELATED MATTERS
<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS
<br />ARTICLE I
<br />Section 1.1: Findings and DeterminationsThe City Council hereby officially finds
<br />and determines that:
<br />(a) The City of La Porte, Texas (the "City"), acting through its City Council, is
<br />authorized pursuant to and in accordance with the provisions of Texas Local Government Code,
<br />Chapter 271, Subchapter C, as amended (the "Act"), to issue certificates of obligation to provide
<br />all or part of the funds to pay contractual obligations to be incurred for the construction of public
<br />works and the purchase of materials, supplies, equipment, machinery, buildings, land and rights -
<br />of -way for authorized needs and purposes and for the payment of contractual obligations for
<br />professional services, to wit: (i) planning, acquisition, design, construction and equipment of a
<br />new City Hall, (ii) renovation, improvement and equipment of existing City buildings, (iii)
<br />construction, improvement, extension, upgrade and development of City streets, including
<br />drainage, streetscaping, signalization and other traffic controls, sidewalks, street lights and the
<br />acquisition of any right-of-way, (iv) drainage improvements, (v) construction, renovation,
<br />improvement, and equipment of the City's water and sewer system, (vi) purchase of land for and
<br />construction, renovation, improvement, and equipment of the City's Bay Forest Golf Course and
<br />related facilities, and (vii) the cost of professional services rendered in connection the above listed
<br />projects.
<br />(b) The City Council authorized the publication of a notice of intention to issue its City
<br />of La Porte, Texas, Certificates of Obligation, Series 2021 (the "Certificates") to the effect that the
<br />City Council was tentatively scheduled to meet at 6:00 p.m. on July 12, 2021, at its regular meeting
<br />place to adopt an ordinance authorizing the issuance of the Certificates to be payable from an ad
<br />valorem tax levied, within the limits prescribed by law, on the taxable property located within the
<br />City, and a limited pledge of surplus net revenues of the City's waterworks and sewer system (the
<br />"System").
<br />(c) Such notice was published and posted at the times and in the manner required by
<br />the Act.
<br />(d) No petition signed by at least five percent (5%) of the qualified voters of the City
<br />has been filed with or presented to any official of the City protesting the issuance of such
<br />Certificates on or before the date of passage of this Ordinance.
<br />099900,24203 EMF_US 8%8979IQ
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