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• <br />L' <br />Amount Purpose For A ag inst <br />S 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 <br />Use of Proceeds <br />The proceeds from the sale of these $5,000,000 Bonds will be used as follows: <br /> Amount Purpose <br /> $ 550,000 Constructing or purchasing a <br /> Fire Station, additions and <br /> Improvements <br />1 <br /> Constructing or purchasing a <br />450,000 <br /> Fire Department Training <br /> Facility and related improve- <br /> ments, including the purchase <br /> of a site therefor. <br /> 2,000,000 Purchasing and improving land <br /> for park purposes <br /> 1,000,000 Drainage improvements <br /> 1,000,000 Street improvements and <br /> drainage in connection therewith <br /> $5,000,000 <br />After the is suance and sale of These $5,000,000 Bonds, there will remain $10,650,000 <br />General Obli gation Bonds authorized but unissued. <br />Security <br />These Bonds will, in the opinion of Counsel, constitute valid and lega lly binding <br />obligations of the City of La Porte, Texas, payable from and secured by a continuing <br />levy of ad valorem taxes against taxable property located in the City within the <br />limits presc ribed by law. <br />Payment Record <br />The City has not defaulted on General Obligation Bonds in more than forty-five years. <br />y <br />