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• (~ <br />S~ :, <br />ORDINANCE NO. 1440 <br />~~ <br />AN ORDINANCE CALLING BOND ELECTION; PROVIDING <br />AND FIXING DETAILS RELATING THERETO; AND <br />DECLARING THAT SAID ORDINANCE SHALL BE <br />EFFECTIVE IMMEDIATELY UPON ADOPTION <br />WHEREAS, the outstanding bonds of the City of <br />La Porte Waterworks and Sewer System Revenue Bonds, Series <br />1965 constitute the only indebtedness chargeable against the <br />net revenues of the Waterworks and Sewer System of the City <br />of La Porte, Texas (the "City"); and <br />WHEREAS, it is provided in the ordinance authoriz- <br />ing the issuance of said outstanding bonds, and in said bonds, <br />that additional revenue bonds may be issued on a parity with <br />said outstanding bonds; and <br />WHEREAS, there is a need for the construction of <br />extensions and improvements to the waterworks and sewer sys- <br />tem of the City, and the City Council has determined, and <br />hereby determines, that propositions for the issuance of <br />additional revenue bonds for such purposes should be submit- <br />ted at an election, as hereinafter provided, said bonds to <br />be payable from the net revenues derived from the operation <br />of the City's waterworks and sewer system on a parity with <br />said outstanding bonds; and <br />WHEREAS, the City Council of the City of La Porte <br />has also determined, and hereby determines, that propositions <br />for the issuance of tax bonds of the City for the purpose of <br />making certain permanent public improvements, as hereinafter <br />provided, should also be submitted at such election; and <br />WHEREAS, the City Council wishes to proceed with <br />the ordering of such election; therefore, <br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA PORTE: <br />Section 1. That a special election shall be held <br />in and throughout the City of La Porte, Texas, on the 15th <br />day of June, 1985, which is not less than fifteen nor more <br />