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' • <br />LA PORTE AREA WATER AUTHORITY <br />APPLICATION FOR APPROVAL BY TEXAS WATER COMMISSION <br />OF AUTHORITY'S PROJECT AND BONDS <br />TO THE HONORABLE TEXAS WATER COMMISSION: <br />La Porte Area Water Authority (the "Authority") in <br />Harris County, Texas, files and presents this application <br />pursuant to Section 54.516 of the Texas Water Code, and re- <br />quests the Commission to take such action thereon as provid- <br />ed by said Section and other appropriate laws of this State. <br />The Authority seeks approval of $5,000,000 aggre- <br />gate principal amount of its revenue bonds (the "Bonds"), <br />being the first installment of bonds authorized to be issued <br />without the holding of an election pursuant to the special <br />act creating the Authority, Chapter 729, pages 2,678 et <br />seq., Acts of the 67th Legislature of the State of Texas, <br />Regular Session, 1981, (the "Act") for the purpose of <br />purchasing an undivided interest in the Southeast Water <br />Purification Plant (the "Southeast Plant") under <br />construction by the City of Houston, Texas, and expenses <br />incidental thereto, and of paying such other expenses of the <br />District as may properly be paid from the proceeds of the <br />Bonds. The Bonds will bear interest at a net effective <br />interest rate not exceeding the maximum rate permitted by <br />law and will mature serially in accordance with the schedule <br />annexed hereto as Exhibit A. In connection therewith, the <br />