1980-12-17 Regular Meeting - Laserfiche WebLink

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" . e e e of La Porte, Texas, in the total principal sum of $800,000 to be known as' "CITY OF LA PORTE, TEXAS, CERTIFICATES OF OBLIGATION, SERIES 1980." Section 2: That said certificates shall be dated November 1, 1980, shall be numbered consecutively from 1 through 160, shall be in the denomination of $5,000 each and shall mature and become due and payable serially without option of prior redemption on February 1 in each of the years and in the amounts specified in the following schedule: Year Amount Year Amount e 1982 $80,000 1987 $80,000 1983 80,000 1988 80,000 1984 80,000 1989 80,000 1985 80,000 1990 80,000 1986 80,000 1991 80,000 Section 3: That said certificates shall bear interest from their dates until maturity at the rate of 7 3/4% per annum, with such interest to be evidenced by interest coupons payable on August 1, 1981, and semiannually thereafter on each February 1 and August 1 until the principal sum is paid in full. Section 4: The seal of said City may be impressed on each of said certificates, or in the alternative a facsimile of such seal may be printed on said certificates. The certificates may be manually signed by the Mayor and City e Secretary, or in the alternative may be executed by the imprinted facsimile signatures of the Mayor and City Secretary of the City, and execution in the latter manner shall have the same effect as if such certificates had been signed by the Mayor and City Secretary in person by their manual signatures. Inasmuch as such certificates are required to be registered by the Comptroller of Public Accounts for the State of Texas, only his signature (or that of a deputy It designated in writing to act for the Comptroller) shall be required to be manually subscribed to said certificates in -2-