1954-12-17 Special Meeting - Laserfiche WebLink

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• ~ 263 MINUTES - SPECIAL MEETIl~ LA PORTE CITY COMMISSION - DECEt~ER 17TH, 1951 10:00 A. M. Special a-eeting of the City Comm3.ssion xas called to order by Mayor M. D. Bur~- gin~ Frith the follen:ing members and city offioi ala present: Commissioners L. R. Rigby ani H. P. Pfeiffer, Ernest L. Bro:rn, Jr., City Bond Consultant, John S. Kiibler, Special Counsel, and J. E. Muldoon, City Clerk. Minutes of the 1 ast meeting ~ ere read and approved. M]r. Ernest L . Brown, Jr., advised the City on inf ormat i,on from Wyatt C. Hed- rick, Engineer, of the plans for se~rerage in Sylvan Beach Addition, and to sections in the West and NorthRest part of La Porte. The approxime.te cost ~rould be X56, 000.00, and the City vo ting a X60, 000.00 issue , ~o uld leave a ten percent euon for contingencies. These bonds Rould be t ax bonds, hoR ever they cc,uld be paid off tom the irxone in netr connections, and from moneys being dropped, Which is not necessary to be deposited in the $250,000 revenwe reserve fund. After much discussion, the Mayor asked the Commission to pass an ordinance he had ~rt~~ten. Ordinance No. 1179 The Mayor introduced ~ ordinance calling a bond election. The ordinance eras read in fall. anti Ccmmi.ssioryer Rigby moved that it be adopted. The motion Ras seconded by Commissioner Pfeiffer and carried by the foll.orodng vote: AYES; Mayca• Bergin, Commissioners Rigby and Pfeiffer. NOES: None. The ordin- ance thus adopted follars: Texas : BE IT Q~DAINED by t hs City Commmission of the City of La Porte Section l: That an a le etion sha11 be held in and. throughout the City of La- o ~e, e~cas, on the 8th da6r of January, 1955, at ,:hick election the foll~ing proposition shall be submitted to the duly qualified resident electors of said city ~o onv;t taxable property xithin sa~.d City and mho have duly reidered the same for taxation, for their action thereupon: PROPOSTPION SHALL ~ CITY COM~dISSION OF T ~E CITY OF LA PORTE, TEXAS BE AUTHORIZED TO ISStE THE BONDS OF SAID CITY IN TAE AMJUNT OF X60,000, MATURING SERIALLY WITHIN THIRZY {30) YEARS FROM THEIR DATE OR DATES, AND BEARING Il~EREST AT A RATE NOT TO EXCEID FOIIR (~) PER CENT PER ANNUM, FCii TIC ACQUISITION OF A CAPITAL PROJECT, TO-1l~Il' : IMPROVIldG AND EZ'TENDIl~ TBE CITY S SANITARY SEND SYSTEM, AND ~ LEVY TAXES ON ALL TAXABLE PROP- ERTY WITHCN SAID C[TY SUFFICIE~+Tr TO PAY THE ANNUAL INTEREST ON SAID BONDS AND TO PROVIDE A SINKING FUND TO PAY TFE PRIN- CIPAL THEREOF AT MATURITY?