1946-10-21 Special Meeting - Laserfiche WebLink

Browse Search

• l~08 3dI MUTES SPECIAL MEETING LA P%F TE CITY COt.'T' C :il. ~ OCTOBER 21, 19l~6, X3:00 P. M. Meetix~; was called to order by ~'layor Ruff with the followixg Aldermex axd City Offioials presext: Ald. T. F. Smith, J. J. Roark, J. L. Dunham, Geo. F. Norr~.s, City Atty. Kiiblr.r, City Secretary Sharp. The Mayor stated that the purpose of the meetim~~ was to pass ax Oz'dixance authorizing the issuaxcc of $22,000.00 City of ~a Porte Water B,ystem Refuxdinp' Boxds, bearixg ixterest at the rate of 3io and ~~ per axxum for the purpose of refuxdin{~ $22,000.00 of City of La Porte ~'jater System Ws rrants. Aldernax Roark ixtroduced ~N Ordixaxce extitled: `~ AN ORDINANCE OF THE CITY COtJNCIL OF THE CITY OF LA POF'TE, TEXAS, ALTIfORIZTNG THE ISSUANCE OF X22,000.00 CITY OF LA PORTS WATER SYSTEM REFUNDING. BONDS,BEARING INTEREST AT THE RATE OF 3% AND 3~ PER ANIvTtT,ti;, ^OR THE PURPOSE OF REFUIv'DING $22, 000.00 OF CITY OF LA POP.TE PdATER SYSTEBd1~GARRANT; PROVIDING THAT THE HOLDERS OF THE REFUNDING BONDS SHALL pE R?tRROGATED TO ALL Th'E RIGHTS HELD BY THE HOLDERS 0~' THE ORIGINAL V~,9„RRAIvTS REFUP3DEi `~iiF.FE£Y; PRCVII'iIDIG FOR THE LEVY, ASSESSMENT AND COLLECTION OF "_'A1;.ES ON ALL TAXABLE PROPERTY 1NITHIN THE LIMITS OF '~ THE CITY OF LA PORTS, TO PAY THE INTEREST THEREON AND CREATE A SINK- ING FUND WITH WHICH TO PAY THE PRI21;iPAI AT MATURITY;P,ESERVING THE RIGHT TO PAY ALL OR A PORTION OF THE INTEREST AND PRINCIPAL OF SUCH REFUNDING FRONDS FROM FUNDS DERIVED FROM OTHER LAV'~FiJL SOURCES; DECLAR- ING TfiE VALIDITY OF THE Y~lARRANTS THAT ARE BEII~;G REFUI~7DED; AND DECLAR- ING AN E~RERGENCY. n The Ordixaxee was read ix full by the City Secretary axd it was x:oved by Aldera~ax Roark axd seeoxded by Alderma.x Norris that the ordixaxce be passes •x ite first readix~, wh~tah motiox was uxaximously carried, Aldermax Dunham, Norris, Smith 'axd Roark votim~ AYE; axd xo oxe votiF€ N0. It was moved by Aldernax Roark axd seeoxded by Aldermax Norris that the rule requirix~ ordixaxces to be passed at more thax oxe meetix~ be suspexided axd .that the ordixaxee be placed ox its secoxd sxi' final readix~s, which motiox wa.s uxaximously carried, Aldermax Dunham, Norris, Smith axd Roark voting AYE; axd xo oxe voting NO. The ©rdixanee was read a seQOxd time axd it was moved by Ald-rma~ R©ark axd Secoxdc~d by Alderman r,Torris that fihe ordixaxce be passed ox its seeoxd readi.x~, which motiox was uxaximously parried, Aldcrmer~ Dunham, Norris, Smith axd Roark votix~ AYE; axd ' xo oxe votix~ N0. The ordixanee was read a third time, axd it was moved by Aliermax Roark axd secoxded by Aldermax Norris that the ordixaxce be parsed ox its third axd final read.ix~, which motiox was uxaximous- l~r carried, ~-ldermen Dunham, Norris, Smith axd Roark v©tia~ AYE; a.xd x oxe votix~ No.