2007-03-26 Special Called Joint Meeting of La Porte Development Corporation and La Porte City Council Minutes

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c x h ; b I -J Ve r siPlv i3 NOTICE OF INTENTION TO ISSUE CERTIFICATES NOTICE IS HEREBY GIVEN that the City Council of the City of La Porte, Texas (the "City") will meet at its regular meeting place at City Council Chambers, City Hall, 604 West Fairmont Parkway, La Porte, Texas at 6:00 p.m. on May 21, 2007, which is the time and place tentatively set for the passage of an ordinance and such other action as may be deemed necessary to authorize the issuance of the City's certificates of obligation, payable from ad valorem taxation and a limited (in an amount not to exceed $1,000) subordinate pledge of certain revenues of the water and sewer system of the City, in the maximum aggregate principal amount of$8.7 million, bearing interest at any rate or rates, not to exceed the maximum interest rate now or hereafter authorized by law, as shall be determined within the discretion of the City Council at the time of issuance and maturing over a period of years not to exceed forty (40) years from the date thereof, for the purpose of evidencing the indebtedness of the City to pay all or any part of the contractual obligations to be incurred for the construction of public works, the purchase of materials, supplies, equipment, machinery, buildings, land and rights-of-way for authorized needs and purposes, to wit (i) construction of an addition to and upgrading of the City's wastewater treatment plant, (ii) improvements to the City's Bay Forest Golf Course, including replacement of cart paths, tunnel and restrooms, (iii) construction of amateur ball fields and related infrastructure to be located South of Fairmont Parkway and East of Willow Spring Gulley, and (iv) professional services rendered in connection with the above listed projects.