1985-06-17 Special Called Meeting of La Porte City Council

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Ordinance 1446, Page 4 PROPOSITION NO. 9 SHALL THE CITY COUNCIL OF THE CITY OF LA PORTE, TEXAS, BE AUTHORIZED TO ISSUE THE TAX BONDS OF SAID CITY, IN ONE OR MORE SERIES OR ISSUES, IN THE AGGREGATE PRINCIPAL AMOUNT OF $1,500,000, MATURING SERIALLY WITHIN 25 YEARS FROM THEIR -DATE OR DATES AND BEARING INTEREST AT A RATE OR'RATES NOT TO EXCEED THE MAXIMUM NOW OR HEREAFTER AUTHORIZED BY LAW, ALL AS SHALL BE DETERMINED WITHIN THE DIS- CRETION OF THE CITY COUNCIL, FOR THE PURPOSE OF CONSTRUCTING OR PURCHASING A PUBLIC BUILDING, NAMELY A FIRE DEPARTMENT TRAINING FACILITY AND RELATED IMPROVEMENTS, INCLUDING THE PURCHASE OF A SITE THEREFOR, AND TO LEVY TAXES UPON ALL TAXABLE PROPERTY WITHIN SAID CITY ANNUALLY, SUFFICIENT TO PAY THE INTEREST ON SAID BONDS AS IT ACCRUES, AND TO CREATE AND PROVIDE A SINKING FUND TO PAY THE PRINCIPAL OF SAID BONDS AS THEY MATURE? WHEREAS, the duly qualified resident electors of said City cast the following votes, respectively, at said election on said propositions, to -wit: PROPOSITION NO. 1 FOR THE ISSUANCE OF $800,000 WATERWORKS SYSTEM IMPROVEMENT REVENUE BONDS AGAINST THE ISSUANCE OF $800,000 WATERWORKS SYSTEM IMPROVEMENT REVENUE BONDS PROPOSITION NO. 2 FOR THE ISSUANCE OF $8,550,000 SEWER SYSTEM IMPROVEMENT REVENUE BONDS AGAINST THE ISSUANCE OF $8,550,000 SEWER SYSTEM IMPROVEMENT REVENUE BONDS PROPOSITION NO. 3 FOR THE ISSUANCE OF $2,500,000 STREET IMPROVEMENT TAX BONDS 614 Votes 208 Votes 620 Votes 198 Votes 514 Votes AGAINST THE ISSUANCE OF $2,500,000 STREET IMPROVEMENT TAX BONDS 302 Votes PROPOSITION NO. 4 FOR THE ISSUANCE OF $3,000,000 DRAINAGE IMPROVEMENT TAX BONDS 591 Votes AGAINST THE ISSUANCE OF $3,000,000 DRAINAGE IMPROVEMENT TAX BONDS 232 Votes 005RGV/180B01 -4-