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<br />SPECIAL p,,'~ET INCr
<br />LA PORTS CITY CGI~T~CIL
<br />JAPNARY 31, 19I~, 8 s 00 P,b'I.
<br />Meeting we_s called to order by 1~'iayor Ruff with the following
<br />Aldermen and City Officials present: Ald: T~:7. D. 73urgin, J. N.
<br />Johnson, J. H. Kerber, J. J. Roark, T. F. Smith, City Atty.
<br />Kiibler, CitvT Secy. Christer_sen.
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<br />Sewer Refdg. The T~Ia.yor stated that the purpose of the meeting was to vote
<br />Bonds the issuance of X12,000.00 City of La Porte Sewer Refunding
<br />Bonds for the purpose of Refunding X12,000.00 Cit~r of La
<br />Porte Sewer Warrants, dated Nay 10, 19t~3.
<br />Ord.~`310 A1derT:lan Jahnson introduced an Ordinance entitled:
<br />"AN GP.DIT'ATJCE
<br />0^ THE CITY COUT7C;I_; OF THE CITY OT LA PORTS, TEKAS, AUTHORIZ4
<br />ING THE ISSUANCE O?' X12,000 CITY OF LA PORTS SEWER REFUNDING
<br />BOrID5, BEAnING TP7T^REST AT THE RATE OF 1_{,~' P~:F. Ar?T?L?T4' TOP THE
<br />PI7RPOSE OF REFITNDIDtG X12,000.00 CITY OF LA PORTS S?~"dER
<br />VdARRAT~TS, DATED It4AY 10, 1gIr3; PtiESCRIBIA7G TF?E FORl:^ OF SUCH
<br />REFUNDING BONDS: PROVIDID7G TI7AT THE HOLDERS OF TIC F.EFUND-
<br />IIvrC BOr?DS SfiALL BE SUBP,OGATED TO ALL THE RIGHTS HELD BY THE
<br />HOLDERS OF THE ORICrI2:AL V+rARRAN?'S £cEFUNDED THEREB~'; PRO~rl'DI1tTG
<br />FOR THE LF~TY, ASSESST!+T;TdT AND COLT~f'CTIUT7 OF TAh~S OAT ALIT
<br />TAXABLE PROPERTY '"TIT'HIN TI?E LII4IITS OF THE CITY O" LA PORTS
<br />TO PAY THE INTEREST THEREOIv7 AND CREATE A SINGING F?JND VTITH
<br />WHICH TO PAY THE ~INCIPAL AT MATURITY: RESER~7ING THE RIGHT
<br />TO::'PAY ALL.OR A PORTION OF THE INTEREST AND PRINCIPAL OF
<br />SUCH FEFil~1DING BOITpS FROM FUNDS DI~2IVED FRO"_.i OTHER LAV~'UL
<br />SOUFCES; DECLARING THE° aALIDTTY OF TIC ~"d~,RRAtT?' S THAT ~1RE
<br />BEING REFUPdDFD; AND DECLARING AN EI+IIERGEAICY.»
<br />The or•dinanae was read in full by the City Secretary and it
<br />was moved by Alerman Johnson and seconded by Alderman Smith
<br />that the ordinance be passed. on ii;s first reading,, which
<br />motion was unanimously cai•z•ied, Alderman Johnson, Roark,
<br />Burgin, Kerber and Smith vo':in.g Ati'; and no one voting N0.
<br />TT WAS P~IOved by Alderman Johnson And seconc?.ed by Aldern~a.n
<br />Smith that the dale requiring ordinances to be passed at more
<br />than one meeting be suspended ar_d that the ordinance be placed
<br />on its second and final readings, which moi~ion was unanimously
<br />carried, Alderman Johnson, Roark, Burgin, Kerber and. Smith
<br />voting AYE; and no one voting DIG.
<br />The ordinance was read a second tirAe and it was coved by
<br />Alerrian Johnson and seconded by Alderman Smith that the
<br />ordinance be passed on its second reading, whicki motion was
<br />unanimously carried, ~~lder!aan Johnson, Rork, ~-4urgin, Kerber
<br />and Smith voting AYE; a.nd no one voting N0.
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<br />The ordinance was read a third time, ant it was moved by
<br />Alderman Johnson and seconded by Alderman Smith that the
<br />ordinance be passed on its third. and fir_al reading, which
<br />motion wAS unanimously carried, Alderman Jor~nson, Roark,
<br />Burgin, Kerber a:.d Sr:i±h voting AYE; and no ane voting N0.
<br />213
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