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<br />BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LA POR1E, 1EXAS, TIIAT:
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<br />SECTION 1. AMOUNT AND PURPOSE OF THE BONDS, The bonds of City of La Porte (the "Issuer")
<br />are hereby authorized to be issued and delivered in the aggregate principal amount of $7,505,000, FOR THE
<br />PURPOSE OF PROVIDING FUNDS TO REFUND THE ISSUER'S REFUNDED OBLIGATIONS (as described
<br />in the preamble hereto),
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<br />SECTION 2. DESIGNATION, DATE, DENOMINATIONS, NUMBERS, AND MATURITIES OF
<br />BONDS. Each bond issued pursuant to this Ordinance shall be designated: "CITY OF LA PORTE, 1EXAS,
<br />GENERAL OBLIGATION REFUNDING BOND, SERIES 1994", and initially there shall be issued, sold, and
<br />delivered hereunder fully registered bonds, without interest coupons, dated April 1, 1994, in the respective
<br />denominations and principal amounts hereinafter stated, payable to the respective initial registered owners thereof
<br />(as designated in Section 11 hereof), or to the registered assignee or assignees of said bonds or any portion or
<br />portions thereof (in each case, the "Registered Owner", "Owner", or "owner").
<br />
<br />The tenn "Bonds" as used in this Ordinance shall mean and include collectively the bonds initially issued
<br />and delivered pursuant to this Ordinance and all substitute bonds exchanged therefor, as well as all other
<br />substitute bonds and replacement bonds issued pursuant hereto, and the tenn "Bond" shall mean any of the
<br />Bonds. The Bonds shall be numbered R-1 upward, shall be in the denomination of $5,000 each or any integral
<br />multiple thereof, and shall mature and be payable serially on February 15 in each of the years and in the
<br />principal amounts, respectively as set forth in the following schedule:
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<br />YEARS AMOUNTS YEARS AMOUNTS
<br />1995 $ 195,000 2001 $ 1,055,000
<br />1996 280,000 2002 965,000
<br />1997 270,000 2003 1,100,000
<br />1998 505,000 2004 1,075,000
<br />1999 460,000 2005 915,000
<br />2000 685,000
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<br />SECTION 3. INTEREST. The Bonds scheduled to mature during the years, respectively, set forth below
<br />shall bear interest from the dates specified in the FORM OF BOND set forth in this Ordinance to their respective
<br />dates of maturity or redemption prior to maturity at the following rates per annum:
<br />
<br />YEAR OF INTEREST YEAR OF INTEREST
<br />MATURITY RA1E MATURITY RATE
<br />1995 % 2001 %
<br />1996 % 2002 %
<br />1997 % 2003 %
<br />1998 % 2004 %
<br />1999 % 2005 %
<br />2000 %
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<br />Said interest shall be payable in the manner provided and on the dates stated in the FORM OF BOND set forth
<br />in this Ordinance.
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<br />SECTION 4. CHARACTERISTICS OF THE BONDS, (a) Re~istration, Transfer, and Exchan~e;
<br />Authentication. The Issuer shall keep or cause to be kept at the principal corporate trust office of Texas
<br />Commerce Bank National Association, Houston, Texas (the "Paying Agent/Registrar") books or records for the
<br />registration of the transfer and exchange of the Bonds (the "Registration Books"), and the Issuer hereby appoints
<br />the Paying Agent/Registrar as its registrar and transfer agent to keep such books or records and make such
<br />registrations of transfers and exchanges under such reasonable regulations as the Issuer and Paying
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