1948-02-02 Regular Meeting - Laserfiche WebLink

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111 • . . PROPOSITION N0.' 2 Shall the City Coimnission of the City . of La Porte, Texas, be authorised to issue 1~ $ 300,000.00 Revenue Bonds of said City, maturing serially or atherRi.se over a per o years not to exceed thirty (30) years iron their date, beari~ interest at a rate mat to exceed five (5~) per sent per agnun, for the purpose of oonstruotixg exteasi®ms and improvements to the Sewer System of said City; and to provide for the payneffit of the principal and ~igterest on such bonds solely:. by pledgieg the met revenue Berived frcan the operation of said Seeror System, or in the eve~tt that the City Cpeon- ission be authorised to issue Waterworks System Revenue Bonds as submitted im Pro- pos3,tioit No. 1, to issue eoa~bined gaterworks and Seger Sys ten Rovenus Bonds im the naxiasun amount of X500,000.00, and to pledge solely the net revenues of the combined Waterworks •amd seov+er S~rstea to :the payment of the ~prinoipal of and iterest aaa said oombimed Waterworks and Semr System Revenue Bonds. o The said elootian shall be held at Cit Hall ..._Buildfng, in the City of La- Porte, Texas, with Hallie Tl~r~i~h,_t,,,_ as ~es3~C~,sg ~uc:ge, Brbela Ralstaa~ as Judge, sad ,; ldrs. Calvin Compton and s. Janes Rollins as C arks. The said elootion shall be held under the provisions of sad i.m aooordanee with the laers governing the issuanoe~ of xuni©ipal bonds by cities, as provided im the Gen- eral Lawry of the State of Texas, and ably qualified electors, ~.o orra taxable property iY the City and who have duly rendered the sane far taxation, shall be qualified to vote. The ballots for said eleetian shall have writteat or printed thersen the folloari.ng: "FOR THE I,SSIIANCF OF WATERWORKS SYSTFJ~ REVENUE BONDS AND THE PLEDGE OF NET REVENUES FOR THE PAYMEb1T FOR THE PAYNI~3JT THEREOF, AS SIIBMITTED IN PROPOSITION N0. 1." "AGAINST THE I3SIIANCE OF WATERWORffi SYSTEM REVENUE BONDS AND TF3E PLEDGE OF NET REVENUES FOR THE PAYD~NT THEREOF, AS SIIBMITTED IN PROPOS ITI ON N0. L: "FOR THE ISSIIANCE OF SEWER SYSTEM REVENUE BONDS AND THE PLEDGE OF NET REVENUES FOR THE PAYb'~TT T~iEREOF, AS SUStidITTED IN PROPOSITION N0. 2." "AGAINST THE .ISSITANCE OF SE99ER SYSTEM REVENUE BONDS AND THE PLEDGE OF NET REVENUES FOR THE PAYMII~ THEREOF, AS SUBMITTED IN PROPOSITION N0. 2." As to each of the foregoing propositions, each voter shall lark Dort with black fmk or black pemoil one of the above expressi~s, thus leaving the other as i~adieati~ug his vote on the two propos iti ems, respectively. ~' A Dopy of this resolution and order signed by the Mayor of said City and attested by the City Clerk, shall serve as proper notice of said election. The Mayor is authorised and directed to eauco said notice of the elotiex to bm posted at three public planes is said City, cote of nhich shall be at the City Hall, for' at least fifteen (15) full days prior to the date of said eleotimm. The ~dayor ie further authorized and directed to have said noose of the eleatiom published im some maRSgaper of general siroulatica~t i.m said City, sad which notice shall be published oa the aline day in each of tv:o (2) sucoessiTe xeelcs, the date of the first publication bei:tg mat less than fourteen (]1~) full days prior to the date of the elec- t ion. PASSED AND APP&OVED this the 2nd day of February , 191.8. Carried.