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~~ ,• <br />LA PORTE AREA W:yTER AUTHORITY '~- <br />APPLICATION FOR APPROVAL B1 TEXAS WATER COMMISSION <br />OF AUTHORITY'S PROJECT AND BONDS <br />TO THE HONORABLE TEXAS WATER COQ'-MISSION: <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 $9,800,000 aggre- <br />gate principal amount of its re~•enue bonds (the "Bonds"), <br />to be issued without the holding of an election pursuant to <br />the special act creating the Authority, Chapter 729, pages <br />2,678 et seq., Acts of the 67th Legislature of the State of <br />Texas, Regular Session, 1981, (the "Act") for the purpose of <br />(i) purchasing an undivided interest in the Southeast Water <br />Purification Plant (the "Southeast Plant") under construc- <br />tion by the City of Houston, Texas, and paying expenses <br />incidental thereto, (ii) paying the costs of acquisition and <br />construction of a transmission system and a distribution <br />system to transport water from the Southeast Plant to the <br />customers of the Authority and (iii) paying such other <br />expenses of the Authority as may properly be paid from the <br />proceeds of the Bonds. The BonCS will bear interest at a <br />net effective interest rate not exceeding the maximum rate <br />