1948-02-02 Regular Meeting - Laserfiche WebLink

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r 110 On this the 2nd '~ oP February 191.8, the ~ Cominiseima of the City of La Porte,~as, eoisve}ssd ix re ular seseioa at the regular neetisg plane thereof v~ith the followixg ~ nenber~~-' H. J. Pfeiffer ~, ~ymr Jas. S. Crate, Jr. , Co~nissioner . '. ~~ James Stewart Commissioner ' ~ J. E. Muldoon ,.City Clerk . _ . present, anci the followfng absent: None , constituting a quorum, when, siaong other proceedings had,' mere the folloering a Commissioner Stewart introduced a 'resolution anal orfler axsei nosed its adopti~. Ths motion was seconded by Commiissioxer Crato `. The notiaat, carrying with it the adoption of the resolution a~ad order, pre:Pailsd by the follonring vote : . AYE5 s , Three , ~ - _________,; NOESs ~ None , ` The resolutiona rind order is as folloves s ` ~iEREAS, the City Ca~emiesiam of the City of La i'orte, Texas, deems it adTisable and to the best interest of said City t© sub:eit to the residtnt, qualified property taxpaying voters of said City the proposition for°the issuance ~of ,$200,000.00 Revenue Bonds of said City for the purpose of eon.strtza'ting extensiams and i~aprove- aencts to the VPaterivorks ~Systen of said City, aYd the proposition for the iar~uanee of X300, 000.00 Revenue Bonds of said City for the purpose of c onstruetiag ex- ens ions axed issprove~ments to the Sewer System of said City; THEREFORE, BE' IT RES OLQED AND ORDERED BY THE CITY' COM~HISSIOId OF T BE CITY OF LA- ~ 0 PORTS, TEXAS That an ele ct-inn be held in the City of La Porte, Texas, on the . 21st' day of Februa , 191.}8, at which ele etion the following propositicsie shall be submitted to the reent qu~lif`isd property taxpa~in.g voters of said City, ~+fio omt taxable property in said pity anal aho have duly rendered the same for taxation, for their action thereupon:' ~ _ PROPOS ITION N0. 1 " ° ~, Shall tho City Ccmmi.ssioa of the City of La Porte, Texas, be authorized to issue ~ 200,000.00 Revenue Bonds oY said City, maturing serially or othersuise ovor a period of years not to. exceed thirty (30) years frc+n their date, bearixg in- terest at~ a rate ant to exceed fire (5~) per cent per annum, for the purposo ©f aomstrueti~ng extensic3ns and inpravener~ts to the ~aterr:orks' System of saiet City; and to provide far the payment of the principal of and interest on such bonds solely by pledging the net revenues dsriTed fren- the operation. of said WaterwrjrYs System, or ii the evrnt that the City Co:+anission be authorised to issue Sewer System Revenue Bonds as submitted in Proposition No. 2, to issue combined Waterrvorlas and Sewer System Revenue Bonds is the naxinua amount of X500,000.00, sad to pledge solely the net revenues of the combined Waterrrorlas and Sewer System to the paynegt of the prin- cipal of and interest caa said combined TNates~vorloe sad Sewer System. Revenue Bonds. -~