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<br />
<br />O F F I C I A L N O T I C E O F S A L E
<br />Dated September 10, 1985
<br />Place and Time of Sale
<br />The City Council of the City of La Porte will receive sealed bids until 7:30 p.m.,
<br />CDST, September 24, 1985 in the Council Chambers of the City Hall, 604 W. Fairmont __
<br />Parkway, La Porte, Texas 77571 on the following:
<br />DESCRIPTION OF GENERAL OBLIGATION BONDS
<br />S5,000,000
<br />CITJi OP LA PORTS, TEXAS
<br />(Harris County)
<br />General Obligation Bonda
<br />SERIES 1985
<br />The Bonds will be dated September 15, 1985 and interest on the Bonds will be due on
<br />March 15, 1986, and each September 15 and March 15 thereafter until the earlier of
<br />maturity or prior redemption. The Bonds will be issued in fully registered form in
<br />integral multiples of $5,000, and principal and semi-annual interest will be payable
<br />by the First City National Bank of Housotn, Houston, Texas, the paying agent/registrar
<br />(the "Registrar"l. Principal of the Bonds will be payable to the registered owner at
<br />maturity or redemption upon presentation of such Bonds to the Registrar. Interest on
<br />the Bonds will be payable by check or draft, dated as of the interest payment date,
<br />and mailed by the Registrar to registered owners as shown on the records of the
<br />Registrar as of the last business day of the month next preceding each interest
<br />payment date.
<br />Maturity Schedule
<br />The Bonds will mature serially on March 15, $250,000 each year 1986 through 2005.
<br />Optional Provisions
<br />All Bonds maturing on or after March 15, 1996 are optional for redemption in whole or
<br />in part on March 15, 1995 or any interest payment date thereafter at par and accrued
<br />interest to the date fixed for redemption. If less than all of the Bonds are redeemed
<br />at any time, the particular Bonds to be redeemed shall be selected by the City in
<br />integral multiples of $5,000 within any one maturity. The registered owner of any
<br />Bond, all or a portion of which has been called for redemption, shall be required to
<br />present same to the Registrar for payment of the redemption price on the portion of
<br />the Bond so called for redemption and a new Bond in the principal amount equal to the
<br />portion of such Bond not redeemed will be issued to such registered owner.
<br />Authorization
<br />These $5,000,000 General Obligation Bonds are the first installment sale out of
<br />$15,550,000 General Obligation Bonds approved at an election held on June 15, 1985 by
<br />a majority of the votes cast as follows:
<br />Amount Purpose For Against
<br />$ 2,500,000 Street Improvements 514 ~ 302
<br />3,000,000 Drainage Improvements 591 232
<br />4,000,000 Sanitary Land Fill 589 230
<br />2,500,000 Park Improvements 500 320
<br />1,500,000 Gymnasium 421 397
<br />550,000 Fire Station 576 246
<br />1,500,000 Fire Department Training Facilities 480 340
<br />$15,550,000
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