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<br /> OFFICIAL NOTICE OF SALE
<br />. dated
<br /> December 3, 1980
<br /> Place and Time of Sale
<br /> The City Counell of the City of La Porte will receive sealed bids until 7:00 p.m., CST, December 17, 1980 in
<br /> the Counell Chambers of the City Hall, 604 West Fairmont Parkway, La Potte, Texas 77571, on the fonowing:
<br /> Description of Certificates of Obligation
<br /> $800,000
<br /> CITY OF LA PORTE, TEXAS
<br /> (Harris County)
<br /> CERTIFICATES OF OBLIGATION, SERIES 1980
<br /> These Certificates, dated November I, 1980, win be issued as coupon certificates in
<br /> $5,000 denominations payable to bearer without privilege of registration.
<br /> Principal and semiannual interest (February 1 and August 1) will
<br /> be payable at the Bayshore National Bank, La Porte, Texas,
<br /> or, at the option of the holder, the First City Bank of
<br /> La Porte, La Porte, Texas.
<br /> First Interest Coupons win be payable August I, 1981.
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<br /> Maturity Schedule
<br /> These Certificates of Obligation will mature serially on February I, $80,000 each year, 1982 through 1991.
<br /> Optional Provisions
<br /> These Certificates of Obligation, Series 1980, will not contain any option for redemption prior to maturity.
<br /> Authorization and Purpose
<br />e These $800,000 Certificates of Obligation are being issued pursuant to Article 2368 a.l, V.A.T.C.S. for the
<br /> purpose of constructing and purchasing a public works service center in the City of La Porte.
<br /> leqalltY..,
<br /> Attorney General of the State of Texas and Messrs. Baker. Botts, Attorneys. Houston, Texas.
<br /> Security
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<br /> These Certificates of Obligation will, in the opinion of counsel, constitute valid and legally binding General
<br /> Obligations of the City of La Porte, Texas, payable from and secured by a continuing levy of ad valorem taxes
<br /> against all taxable property located in the City within the limits prescribed by law.
<br /> Payment Record
<br /> The City has not defaulted in more than forty years.
<br /> Bidding Conditions
<br /> Address and Delivery of Bids
<br /> Bids should be in sealed envelopes plainly marked "Bid for Certificates and should be addressed to the Mayor,
<br /> City of La Porte, 604 West Fairmont Parkway, La Porte, Texas 77571. Bids should be maned or delivered so
<br /> that they arrive at the City Hall, La Porte. Texas. not later than 7:00 p.m.. CST. December 1'1, 1.980.
<br /> For convenience of bidders, bids may be delivered to Moroney, Beissner . Co., Ine., Suite 1865 Post Oak
<br /> Central, 2000 South Post Oak Road, Houston. Texas 77056, agent for the City; and if delivered not later than
<br /> 5:00 p.m.. CST, December 17. 1980. will be deemed to have been delivered to the City in accordance with the
<br /> terms and conditions of the "Official Notice of Sale." Bids so delivered win not be opened except by the City
<br /> Councll of the City of La Porte and will not be opened prior to 7:00 p.m., CST. December 17, 1980.
<br /> No Bid from the Financial Advisors
<br /> Under the terms of the contract with Moroney. Beissner . Co.. Ine., Financial Advisors to the City, it is
<br /> agreed and understood that Moroney, Beissner . Co., Ine. shall not be permitted to purchase any .securities
<br /> from the City nor have any interest. directly or indirectly. in the original purchase and sale of These Cer-
<br />. tificates except as Agent for the City.
<br /> As Financial Advisors to the City, Moroney. Beissner . Co.. Inc. wiD be paid a fee based upon a percentage
<br /> of the principal amoWlt of Certificates actually sold and delivered, which fee is contingent upon such sale and
<br /> delivery .
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