O-2021-3838 auth. issuance, $13.5 million, Certificates of Obligation, new city hall

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(e) No bond proposition to authorize the issuance of bonds for the same purposes as the Certificates was submitted to the voters during the preceding three years and failed to be approved. (f) The City has determined that it is in the best interests of the City and that it is otherwise desirable to issue the Certificates to provide all or part of the funds to pay contractual obligations to be incurred for the purposes authorized by the Act. ARTICLE II Section 2.1: DefinitionsAs used herein, the following terns shall have the meanings specified, unless the context clearly indicates otherwise: "Act" means Texas Local Government Code, Chapter 271, Subchapter C, as amended. "Attorney General" means the Attorney General of the State of Texas. "Certificate" or "Certificates" means any or all of the City of La Porte, Texas, Certificates of Obligation, Series 2021, authorized by this Ordinance. "City" means the City of La Porte, Texas, and, where appropriate, its City Council. "City Council" means the governing body of the City. "Code" means the Internal Revenue Code of 1986, as amended. "Comptroller" means the Comptroller of Public Accounts of the State of Texas. "Debt Service Fund" means the fund by that name created pursuant to Section 5.2 hereof. "Interest Payment Date," when used in connection with any Certificate, means March 15, 2022, and each September 15 and March 15 thereafter until maturity or earlier redemption of such Certificate. "Issuance Date" means the date on which the Certificates are delivered to and paid for by the Underwriter. "Ordinance" means this Ordinance and all amendments hereof and supplements hereto. "Outstanding," when used with reference to the Certificates, means, as of a particular date, all Certificates theretofore and thereupon delivered pursuant to this Ordinance except: (a) any Certificates canceled by or on behalf of the City at or before such date; (b) any Certificates defeased pursuant to the defeasance provisions of this Ordinance or otherwise defeased as permitted by applicable law; and (c) any Certificates in lieu of or in substitution for which a replacement Certificate shall have been delivered pursuant to this Ordinance.