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<br />ORDINANCE NO.
<br />
<br />AN ORDINANCE CONSENTING TO A PROPOSED BOND RESOLUTION
<br />AND CONTINUING DISCLOSURE AGREEMENT
<br />TO BE ADOPTED BY
<br />LA PORTE AREA WATER AUTHORITY
<br />
<br />WHEREAS, the Board of Directors of the La Porte Area Water Authority (the "Authority") has informed the city
<br />council (the "City Council") of the City of La Porte (the "City") that the Authority desires to issue and sell its Contract
<br />Revenue Refunding Bonds, Series 1999, in the aggregate principal amount of $8,080,000 (the "Bonds"), in order to refund
<br />its Contract Revenue Bonds, Series 1988, and Contract Revenue Bonds, Series II 1988; and
<br />
<br />WHEREAS, the City has entered into a Water Supply Contract dated November 23, 1987 (the "Contract") with
<br />the Authority for the City to purchase treated water from the Authority; and
<br />
<br />WHEREAS, the Authority has delivered to the City pursuant to Section 3.02 of the Contract, the proposed bond
<br />resolution attached hereto as Exhibit "A" (the "Bond Resolution") and a schedule containing an estimate of the amounts
<br />described in such Section 3.02; therefore
<br />
<br />BE IT ORDAINED BY THE CITY COUNCIL
<br />OF THE CITY OF LA PORTE
<br />
<br />Section I. That the City Council of the City of La Porte hereby consents, pursuant to Section 3.03 of the
<br />Contract, to the Bond Resolution and Continuing Disclosure Agreement substantially in the form attached as Exhibit "B".
<br />
<br />Section 2. That all filing. notice, or time requirements or other conditions precedent to the adoption of this
<br />Ordinance in the Contract are hereby waived and this Ordinance shall be all the action necessary for the City to consent
<br />and approve the issuance of the Bonds.
<br />
<br />Section 3. That if any section, sentence, phrase, clause, or any part of any section, sentence, phrase, or clause, of
<br />this ordinance shall, for any reason, be held invalid, such invalidity shall not affect the remaining portions of the
<br />Ordinance, and it. is hereby declared to be the intention of this City Council to have passed each section, sentence, phrase,
<br />or clause, or part thereof, irrespective of the fact that any other section, sentence, phrase, or clause, or part thereof, may be
<br />declared invalid.
<br />
<br />Section 4, That the City Council officially finds, determines, recites, and declares that a sufficient written notice
<br />of the date, hour, place, and subject of this meeting of the City Council was posted at a place convenient to the public at
<br />the City Hall of the City for the time required by law preceding this meeting, as required by the Open Meetings Law,
<br />Chapter 551, Texas Government Code; and that this meeting has been open to the public as required by law at all times
<br />during which this ordinance and the subject matter thereof has been discussed, considered and formally acted upon. The
<br />City Council further ratifies, approves, and confirms such written notice and the contents and posting thereof.
<br />
<br />Section 5. That this Ordinance shall take effect and be in full force immediately upon and after its adoption.
<br />
<br />PASSED AND APPROVED THIS
<br />
<br />DA Y OF
<br />
<br />,1999,
<br />CITY OF LA PORTE
<br />
<br />By:
<br />
<br />Mayor
<br />
<br />A TrEST:
<br />
<br />By:
<br />
<br />City Secretary
<br />
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