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• <br />C~ <br />A G R E E M E N T <br />THE STATE OF TEXAS § <br />COUNTY OF HARRI S § <br />• <br />This Agreement made and entered into by and between the CITY OF <br />LA PORTE, a municipal corporation of Harris County, Texas, hereinafter <br />referred to as "CITY" and the LA PORTE AREA WATER AUTHORITY, a muni- <br />cipal corporation of Harris County, Texas, hereinafter referred to as <br />"AUTHORITY," <br />W I T N E S S E T H: <br />• WHEREAS, AUTHORITY is in need of funds to provide for the pre- <br />liminary planning and engineering, and for general operating purposes, <br />to carry out its legislative mandate. <br />WHEREAS, CITY is able and willing to provide said initial funding <br />advances to AUTHORITY, upon the terms, conditions, and convenants <br />herein contained: <br />NOW, THEREFORE, pursuant to the authority granted by the Inter- <br />local Cooperation Act (Art. 1581h, V.A.T.S.), and in consideration of <br />the mutual covenants, agreements, and benefits to both parties, it is <br />hereby agreed as follows: <br />I. <br />CITY agrees to appropriate and advance to AUTHORITY, from time <br />to time, not to exceed a total cash advance of $ loo,ooo.oo , <br />to be used and ex ended b AUTHORIT for <br />P y Y, studies, planning, pre- <br />liminary engineering, and preparatory work, to carry out its legis- <br />lative mandate. <br />II. <br />AUTHORITY agrees to reimburse CITY for said cash advances, without <br />• interest, when, as, and if, AUTHORITY hereafter sells and delivers its <br />revenue bonds in an amount sufficient to repay CITY. The obligation of <br />AUTHORITY to repay CITY is expressly made subject to the issuance and <br />delivery by AUTHORITY of said revenue bonds, and AUTHORITY shall not be <br />~~ <br />